Derry, NH 20 East Bdwy. (19,149 s/f bank building) and 7 McAllister Ct. (1,473 s/f bank drive-thru/teller building) have been sold. This sale marks a milestone for the downtown business community.
Andrew Levy (senior manager-retail), Jay Lee (senior advisor) and Kim Reagan (director) of Berkshire Hathaway Verani Realty’s commercial division represented the seller in this $3.25 million transaction.
The property, built in 1917 on 1.43 acres, offers visibility and accessibility.
“These properties represent the strength of Derry’s evolving commercial market,” said Reagan. “With an absolute lease in place, the buyer benefits from a true turnkey investment, while the community continues to thrive and the investor plans for the future re-adaptive use with an established business anchoring these locations.”
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.