Gray Property Group

UNDER CONTRACT | 270 Amory Street, Manchester, NH 🏢

Gray Property Group is excited to announce that we are under contract to acquire 270 Amory Street (Gosselin Plaza) on Manchester’s West Side.

This 34,500 SF mixed use property sits on 2.71 acres and consists of 17 commercial spaces, roughly half retail and half industrial contractor bays.

This deal is a short-term value-add project and medium-term covered land redevelopment play.

Our value-add plan includes:
🔨 Installation of a new roof
🚗 Parking lot improvements
🪧 Updated property signage
🏢 Strategic renovations of select units

These improvements will stabilize and strengthen the property's performance, improve the tenant experience, and unlock additional value while maintaining occupancy and cash flow.

Looking further ahead, our long-term vision for the property includes the potential redevelopment of the site into affordable workforce housing, helping address a critical housing shortage in the Manchester market while creating significant value for investors and the community.

We believe this acquisition represents an exceptional buy-and-hold investment with opportunities for both immediate returns through operational improvements and long-term upside through future redevelopment.

We look forward to closing on the property and sharing updates as we execute our business plan.

NEW LISTING | 261 Union Avenue, Laconia, NH 📍
Offered at $1,130,000

Investment opportunity in the heart of Laconia! This 9-unit mixed-use property consists of eight occupied apartments and one vacant commercial space.

🏠 8 1-bedroom units
🏢 928 SF commercial space
📈 ~$155,000 Pro Forma Gross Revenue
💰 ~$105,000 NOI
📊 9.3% Cap Rate at Asking Price

The property has benefited from updates to several apartments and common areas, and a new roof was installed in 2021. All residential units are occupied with strong in-place rents averaging $1,432 per month, while additional value can be created by leasing the vacant commercial space.

Additional features include 6 off-street parking spaces, ample nearby street parking, and a highly visible central Laconia location.

📩 Contact Nick Gray at Gray Property Group at (603) 637-4812 or [email protected] for financials or to schedule a showing.

✨ 2025 Operating Highlights | Mill City Apartments ✨

Mill City Apartments closed out 2025 with another strong year of performance across our 15-unit scattered-site multifamily portfolio in Manchester, NH:

🔑 95.5% portfolio-wide occupancy
💸 $48K cash flow / 8.0% cash return
📈 2.11x 3-year equity multiple
📊 14.2% return on capital

The portfolio consists of:
📍68 Kenney Street (6 units)
📍84 Blodget Street (5 units)
📍185 Calef Road (4 units)

Total portfolio revenue reached $310K in 2025, with $154K of net operating income despite elevated maintenance activity at select properties. Even with increased supply entering the Manchester market, the portfolio maintained strong occupancy and stable rent performance throughout the year.

Based on current comparable sales, we estimate the portfolio value at ~$2.85M (~$190K/unit), compared to original invested capital of $600K. Total investor equity is now estimated at ~$1.12M, with cumulative distributions since acquisition totaling $144K.

Operationally, 2025 was focused on maintaining occupancy, navigating turnover, and continuing to strengthen long-term property condition across the portfolio. While 84 Blodget Street experienced elevated maintenance costs related to plumbing repairs and steam heat servicing, there is currently no deferred maintenance across any of the three properties.

Looking ahead, our focus remains on disciplined operations, tenant retention, reserve rebuilding, and positioning the portfolio for a potential refinancing in 2027 as we continue compounding long-term value.

Interested in future investment opportunities or learning more about our strategy? Let’s connect.

Here’s to a strong finish to 2025 and an even stronger 2026. 🚀

We’re hiring a Part-Time Leasing Agent for a 28-unit multifamily property in Sarasota, FL 📍

This is a flexible, commission-based opportunity for a licensed Florida real estate agent looking for a very part-time role, whether you’re newly licensed and want hands-on leasing experience or simply looking for a side income opportunity.

This role is ideal for someone confident in lead generation, prospect follow-up, scheduling tours, and converting qualified prospects into signed leases.

• $500 per signed lease
• 5–6 hours per week max
• Flexible schedule
• Higher commission potential based on performance

Must hold an active Florida real estate license and be available for local showings in Sarasota.

To apply, please send your resume and contact information to [email protected].