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Hard-to-find real estate on the Southern New Hampshire Coast, in Downtown 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 & 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. The first floor has all new electrical, mechanical, and sprinklers. In the Vaughan Mall area the directly abutting property is currently undergoing massive renovation and will become one of the bright spots of Downtown Portsmouth.
Listed by David Garvey and Ethan Ash of Keller Williams Coastal Realty

Property Details of 172 Hanover Street

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