172 Hanover Street Listing Details & Market Data

The property is located in the dynamic and very popular downtown of Portsmouth, NH with access on the Vaughn Mall, and Hanover Street. It is immediately adjacent to the Portwalk Project and there are three hotels within a stones throw, plus multiple restaurants adjacent to the property. The old Cabot House building next to this property, is currently undergoing not just a renovation, but a transformation.Hard-to-find Downtown real estate on the Southern New Hampshire Coast, in 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 floor has all new electrical, mechanical, and sprinklers. 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.Newly for lease, this 1,500 SF in the heart of Portsmouth, is surrounded by many restaurants, hotels and both office and retail. It is the lower level of a three level building. It is street level, but slightly below grade and about 60% of the lower level. The landlord is open to any number of uses such as retail, food service, office or something to compliment the existing units. A restaurant tenant is on the upper level.