Portsmouth NH 12,500+/- SF Mixed Use Building

Retail-Commercial for Sale
Catylist Listing ID: 30471244
Property Subtypes: Free-Standing Building, Mixed Use
Building Size (RSF): 12,500 SF
Gross Land Area: 0.13 Acres
Sale Price: $3,900,000
Unit Price: $312 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Building Name: 172 Hanover Street
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/23/2019

Overview / Comments

Downtown Portsmouth, NH. Free Standing Mixed Use Building with12,500 square feet contains a leased Restaurant, Bar & Lounge on the Main Floor and part of the lower lever for cooling and storage. The top floor has been gutted with a new sprinkler system for either apartments or office build out. Additional 2,000 sf space in the lower level has potential for retail or office use. Parking available within the City Parking Garage, nearby parking lot plus on street parking. Adjacent to the Vaughan Mall Shopping area, several major hotels and directly across the street from PortWalk. Potential for expansion and condo conversion. Shown by Appointment Only.

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Additional Details

Nearest MSA: Boston-Cambridge-Quincy
County: Rockingham
Tax ID/APN: 0126-001A-0000
Zoning: CBB
Market Type: Medium
Retail Clientele: Business, Other
Property Located Between: Hanover & Maplewood
Side of Street: South
Road Type: Paved, 2-Track
Property Visibility: Excellent
Largest Nearby Street: Maplewood Ave
Feet of Frontage: 130
Transportation: Bus
Highway Access: Rte I-95 - to Portsmouth Traffic Circle to Downtown Portsmouth.
Airports: Manchester Regional and Pease.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Renovated: 1990
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Two story brick building with lower level renovated within the last 5 years.
Parking Description: On Street Parking and less than 1 block to the City Parking Garage and City Parking Lot.
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, Satellite
Interior Description: Main floor - Restaurant / Dining Room, Bar & Lounge Area; lower level - retail space and additional space for restaurant coolers and storage and 3rd level - gutted space for future apartments / offices.
Zoning Description: CBB - Commercial Business
Lot Frontage: 130 feet
Water Service: Municipal
Sewer Type: Municipal
Easements: Pipelines, Electric Lines, Utilities
Easements Description: City of Portsmouth

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,713 27,268 43,375
Median Age: 40.73 42.04 42.94
Households: 5,116 12,918 19,637

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