Portsmouth - 361 Hanover Street - For Sale

Office for Sale
Catylist Listing ID: 30737560
Property Subtypes: Coworking, Governmental, High-Tech, Office Building
Building Size (RSF): 26,120 SF
Gross Building Area: See Agent
Gross Land Area: 1.10 Acres
Sale Price: $5,212,730
Unit Price: $199.57 PSF
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: 10.0%
Average Occupancy Rate: 95
Last Updated: 6/9/2021

Overview / Comments

First time available for sale in over 25 years. 361 Hanover Street located in downtown Portsmouth is a two (2) story, handsome brick office building originally built in 1850, most recently occupied by Heinemann Publishing.

The land is approximately 1.1 acres, consisting of 60+ on-site parking spaces. In addition to on-site surface parking the property is adjacent to the Foundry Place Municipal Parking Garage.

The property is serviced by municipal water & sewer, natural gas, electricity is provided by Eversource Energy.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Taxing Authority: Porstmouth
Tax ID/APN: 0138/0063/0001
Zoning: CD5 (CHARACTER DISTRICT 5)
Property Located Between: Foundry Place and Islington Street
Airports: Portsmouth International Airport at Pease
Site Description: The site is level with a paved surface for on-site parking.
Area Description: The area is a mix of multifamily residential, commercial and municipal uses.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1850
Year Renovated: 2005
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Handsome red brick building with multi colored awnings, on-site surface parking lot with some mature landscaping.
Parking Ratio: 2.3 (per 1000 SF)
Parking Type: Surface
Parking Description: 60 + on-site surface parking lot with a municipal parking garage directly behind the building at Foundry Place.
Total Parking Spaces: 60
Sprinklers: Wet
Heat Type: Natural Gas
Interior Description: The interior was renovated in 2005 for a single tenant as professional office space.
Zoning Description: CD5 (Character District 5), Downtown Overlay District and North End Incentive Overlay Disctrict
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Deed to be provided by owner.

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,937 27,268 42,085
Median Age: 39.51 42.04 42.76
Households: 4,702 12,918 19,107

Contact

Photograph of Listing Agent

Mike Harrington, CRE, CCIM

Harrington & Company NECPE Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.