Prestigious downtown Portsmouth Building- State Street-Fully Leased

Retail-Commercial for Sale
Catylist Listing ID: 30766078
Property Subtypes: Mixed Use, Restaurant, Street Retail, Other
Building Size (RSF): 8,730 SF
Gross Building Area: See Agent
Sale Price: $2,950,000
Unit Price: $337.92 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 4/17/2024

Overview / Comments

Here is an amazing opportunity to own one of Portsmouth's landmark buildings. This 8,000+ sq ft building has seen major renovation within the last 2 decades and stands prominently on one of downtowns busiest corners. This building consists of 2 units spanning 4 floors. The basement and first two levels are a very successful restaurant with long term NNN lease in place. The top floor is a very large 3 bedroom apartment with superb views of the Piscataqua river and the bustling city below. This building has had all of its charm and historical character retained and preserved beyond imagination and it is overwhelmingly apparent throughout its entirety. Endless exposed brick, extra wide-plank wood flooring and rustic hand hewn wooden beams serve this property with both the robust structure to endure centuries but the visual aesthetic that appeals to all. Showings begin October 11th by appointment only. Signed NDA required before documents will be shared or showings scheduled. CDC guidelines are still being adhered to. Masks required by all. Commission will be based on net sales price less any seller paid concessions.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Tax ID/APN: 0107-0052-0000
Zoning: CD-4
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Visibility: Excellent
Largest Nearby Street: State St & Islington
Feet of Frontage: 100
Highway Access: Nearby
Airports: Nearby
Site Description: Public, city street, corner lot, high traffic, high foot traffic, high visibility
Area Description: Public, city street, corner lot, high traffic, high foot traffic, high visibility
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 4
Property Condition: Excellent
Year Built: 1814
Roof Type: Hip
Construction/Siding: Brick/Vinyl Siding
Total Parking Spaces: 2
Parking Type: Surface
Parking Description: Tandem behind building
Passenger Elevators: 1
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: CD-4 Rest/clubs
Lot Frontage: 100 approx
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


Photograph of Listing Agent

Arthur J Pappas

Keller Williams Coastal Realty
NECPE Member
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