Seacoast, NH & Southern Maine and Surrounding Areas

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172 Hanover Street
Portsmouth, NH 03801
MLS# 4854884 ID: 69824149
$3,500,000
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Property Description
Commercial Sale - Portsmouth, NH Hard-to-find real estate on the Southern New Hampshire Coast, in Downtown Portsmouth. The tenant on the first floor is a restaurant, which has a great reputation and a strong following amongst locals and tourists alike. It also has a strong lease with good increases in the terms. The property underwent extensive renovations in 2014-2016, with over $1,500,000 invested. The first & second floors are leased to the La Carreta restaurant, a spacious community gathering hot spot in downtown Portsmouth with substantial outside seating. They have stayed very busy even during the pandemic. The third floor is wide open with exposed brick walls and is ready for you to work with the architect of your choice to create apartments, condo units or office space, the possibilities are prime. The first floor has all new electrical, mechanical, and sprinklers. In the Vaughan Mall area the directly abutting property is currently undergoing massive renovation and will become one of the bright spots of Downtown Portsmouth.
Property Features
Status
Days On Market 68 days
Last Updated June 16, 2021
Market Status Available
Description
Property Type Commercial
Year Built 1850
Approx. Lot Size .13 Acres
Building Features
Basement
Heating System Forced Air
Central Air
Heating Fuel Natural Gas
Exterior Features
Exterior Construction Brick
Parking On Street
Legal/Financial
Taxes 44489 (2020)
Listing Features
Property Type Commercial; Commercial Sale
Lot Features
View City
Offered By:
David Garvey
Keller Williams Coastal Realty

Data Provided by Northern New England Real Estate Network

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