News: Front Section
Posted: October 9, 2015
Nautilus Realty handles $3.9 million sale of former NH Liquor & Wine Outlet
Salem, NH A prime parcel of real estate that was home to one of New Hampshire’s busiest NH Liquor & Wine Outlet locations for 50 years was recently sold for $3.9 million - $700,000 more than the appraised value of the property. The site of the former Salem NH Liquor & Wine Outlet at 417 South Broadway had an appraised value of $3.2 million and was sold in a sealed bid sale coordinated by Nautilus Realty Group, selected by the state in May to be its broker for the sale. The winning bidder was Emmett Horgan, owner of Rockingham Toyota of Salem.
417 South Broadway - Salem, NH“Thanks to a successful collaboration with the New Hampshire Department of Administrative Services and Nautilus Realty Group, the New Hampshire Liquor Commission will be delivering millions of dollars back to New Hampshire taxpayers from the sale of the South Broadway property,” said NHLC Chairman Joseph Mollica.
Originally built in 1965, the 10,748 s/f retail store sits on 4.898 acres acquired by the state in 1964.
Over the last five full fiscal years the South Broadway location has perennially ranked fourth in NHLC’s 78 store network of retail operations with a total in excess of $112,478,766 in sales or an annual average of $22,495,753.
On June 18 the NHLC relocated the Salem store and opened the largest NH Liquor & Wine Outlet to date at 92 Cluff Crossing Rd. in Salem. The new 24,000 s/f location is anticipated to generate more than $25.7 million in annual sales – a $2 million increase over Fiscal Year 2014 figures.
92 Cluff Crossing Road- Salem, NHNHLC operates 78 retail locations throughout the Granite State and serves more than 11 million customers each year. More than $3 billion in net profits has been raised since the first store opened in 1934. NHLC had its best sales year ever in Fiscal Year 2015, generating $642 million in gross sales, an increase of $21 million – or 3.4% -- over the previous fiscal year. Total liquor net profits transferred to the New Hampshire’s General Fund reached $151.7 million, which are used to fund programs including education, health and social services, transportation and natural resource protection. NHLC is expecting to net an additional $1 billion for New Hampshire’s General Fund in the next seven years.
Nautilus Realty Group is an innovative real estate brokerage firm based in North Hampton, NH serving New Hampshire, Massachusetts and Maine.
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