Old Salem Liquor Store Site Up for Bid

A prime parcel of real estate that was home to one of New Hampshire’s busiest NH Liquor & Wine Outlet locations for 50 years is being offered for sale and could deliver millions of dollars for the state, according to a press statement.

The site of the former Salem NH Liquor & Wine Outlet at 417 South Broadway has an estimated value of $3.5 million and will be sold in a sealed bid sale coordinated by Nautilus Realty Group, selected by the state in May to be its broker for the sale.

On June 18, the New Hampshire Liquor Commission relocated the Salem store and opened the largest NH Liquor & Wine Outlet to date at 92 Cluff Crossing Road in Salem. The new 24,000-plus-square-foot location is anticipated to generate more than $25.7 million in annual sales – a $2 million increase over Fiscal Year 2014 figures.

“Since 1965 our Salem NH Liquor & Wine Outlet (Store #34) has enjoyed a long and prosperous presence at the South Broadway location,” said NHLC Chairman Joseph Mollica. “However, in recent years demand increased exponentially, and we were able to identify a more convenient and spacious location for consumers on Cluff Crossing Road. Thanks to a successful collaboration with the New Hampshire Department of Administrative Services, the South Broadway property will be offered for sale, with the proceeds returning to the taxpayers of New Hampshire. These proceeds, combined with increased revenue that will be generated from our new location, illustrates NHLC’s commitment to identifying strategies to deliver record returns year-after-year.”

During 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.

Originally built in 1965, the 10,748 square foot retail store sits on 4.898 +/- acres of land acquired by the state in 1964. Major advantages of the location include clear sight lines and high visibility, a South Broadway traffic volume of around 40,000 vehicles per day, and a dedicated traffic signal at the property’s south driveway which provides ease of ingress/egress in both directions.

“South Broadway in Salem is one of the strongest retail corridors in the state with a very high demand for real estate but a shortage of available land,” said Christopher McInnis, president of Nautilus Realty Group. “The sealed bid process allows the market to compete and will yield the maximum fair market value for this property and thus generate the highest possible financial return to the State of New Hampshire.”

According to McInnis, the suggested indicative offer for the property is $3.5 million. All offers to purchase the property are due to the Department of Administrative Services by 2 p.m. on Aug. 6, 2015.

Interested parties should contact Christopher McInnis at 603-964-0472 or by email at cdm@nautilusrg.com.

Caption: The New Hampshire Liquor Commission announced today that it will be selling the real estate parcel of the former home of the Salem NH Liquor & Wine Outlet, which could deliver millions of dollars for the state’s General Fund. The former store site, valued at $3.5 million, will be sold in a sealed bid sale coordinated by Nautilus Realty Group. The parcel is located on South Broadway in Salem.