The residential real estate business is booming right now, and this includes 1-4 unit multifamily properties as well as larger 5+ unit multifamilies. Single family homes have seen their heyday recently with little inventory and plenty of competition. While there have always been plenty of individuals looking to invest in multis, this number has recently increased, especially on smaller multifamily properties. With people being out of work due to layoffs and furloughs, many are going to look to offload their large mortgages and get into something more affordable.
Lucciano‘s Italian Ristorante & Bar has leased 5,100+/- SF adjacent to Shaw’s Supermarket. Owned and operated by Tina and Lou Hatsiandrou the new space is almost triple the size of their previous restaurant where they built up a local following and reputation for offering gluten free pastas and baked goods for 20 years. The new restaurant has 164 seats and a custom-designed wooden bar top that seats an additional 18 guests.
Multi Family Market Monday update!
While the multi family market remains strong into 2020, February did see a little dip in average selling price AND the number of 4+units sold.
So you have a prime piece of land you want to do something with. You know you can get a good price if you sell it, but something in the back of your mind says “I wonder if it would be better to lease it to someone for 20 years instead?”. Who leases empty land anyway?
Change is inevitable. Over time we all age, and this is also true for real estate. In 1986, the Pheasant Lane Mall opened their doors to the public and, at the time, it was the only mall in the Southern New Hampshire area. People drove for miles from up north and Massachusetts to come to this major destination point. Over time, businesses began to pop up along the Daniel Webster (DW) Highway corridor in Nashua. With New Hampshire being a “tax free” state, this area experienced tremendous growth!
The American financial expansion continues and, with few exceptions, prosperity continues to flow across the country!