Downtown Portsmouth Restaurant - Turnkey

Retail-Commercial for Lease
Catylist Listing ID: 30863090
Property Subtypes: Restaurant
Contiguous Space: 6,743 SF
Gross Building Area: 13,679 SF
Lease Rate: $25 PSF (Annual)
Base Monthly Rent: $14,047
Lease Types: NNN
Last Updated: 2/27/2024

Overview / Comments

Welcome to 111 State Street, the former location of Sol Restaurant. The location has excellent exposure to traffic on State Street, Prescott Park, Strawberry Banke and the waterfront. The space is currently under renovation to create a more functional layout on the main level with the addition of an elevator that will allow a tenant to deliver and store items to the lower level with ease. There is approximately 1,647 SF on the lower level which consists of a large walk-in, pantry storage, manager's office, and employee locker area. On the main level, you will find a fully equipped, updated kitchen with fire suppression system, brand new walk-in cooler off of the kitchen space, three bathrooms, four dining areas, large bar, and beautiful large windows that open up to State Street encompassing 4,670 SF. Owner is willing to work with new tenant on custom finishes. Under the current plans, the floor plan allows for approximately 98 seats total. This location has been approved for outdoor dining, and has the possibility of expanding service on to Chapel Street. Tenant to complete due diligence.

Expand All Available Space

Suite: 1 6,743 SF $25 PSF (Annual) NNN
Level/Floor: 1
Space Available: 6,743 SF
Lease Rate: $25 PSF (Annual)
$14,047 (Monthly)
Lease Type: NNN
Space Description: Welcome to 111 State Street, the former location of Sol Restaurant. The location has excellent exposure to traffic on State Street, Prescott Park, Strawberry Banke and the waterfront. The space is currently under renovation to create a more functional layout on the main level with the addition of an elevator that will allow a tenant to deliver and store items to the lower level with ease. There is approximately 1,647 SF on the lower level which consists of a large walk-in, pantry storage, manager's office, and employee locker area. On the main level, you will find a fully equipped, updated kitchen with fire suppression system, brand new walk-in cooler off of the kitchen space, three bathrooms, four dining areas, large bar, and beautiful large windows that open up to State Street encompassing 4,670 SF. Owner is willing to work with new tenant on custom finishes. Under the current plans, the floor plan allows for approximately 98 seats total. This location has been approved for outdoor dining, and has the possibility of expanding service on to Chapel Street. Tenant to complete due diligence.
Date Available: 4/1/2024
Space Type: New
Tax Expenses $19,583 PSF (Annual)

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Taxing Authority: City of Portsmouth
Tax ID/APN: 0107/ 0050/ 0000
Zoning: CD4 - CHARACTER DISTRICT 4
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: On corner of State Street and Chapel Street
Property Visibility: Excellent
Largest Nearby Street: State Street
Feet of Frontage: 72
Traffic/Vehicle Count: 5,483
Highway Access: Route 1, Route 1A, and I95 within one mile.
Airports: Portsmouth, Boston, Portland, Manchester
Site Description: Historic building on charming street with views of the Memorial Bridge and Prescott Park
Area Description: Portsmouth, NH is located on the seacoast of NH, bordering Maine. A bustling tourist destination with 21,956 permanent residents, Portsmouth is known for its incredible restaurant and nightlife offerings.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 4
Property Condition: Excellent
Year Built: 1814
Year Renovated: 2024
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Historic Brick Building
Parking Type: Other
Parking Description: Street parking available on State Street, Chapel, etc. and at the nearby Memorial Bridge Lot.
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Fiber Optic
Interior Description: Currently under renovation.
Zoning Description: Character District 4, Historic District Overlay
Lot Frontage: 72.36
Lot Depth: 53.83
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,213 28,228 41,611
Median Age: 40.65 42.05 42.85
Households: 4,910 13,306 18,957

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