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172 Hanover StreetPortsmouth, NH 03801MLS Number 5045075

  • Price: $5,300,000
  • 183 Days on Market
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172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801172 Hanover Street Portsmouth NH 03801
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  • 0.12Acreage
  • 1850Year Built
  • 2024Tax Year
  • OtherType
Incredible opportunity to acquire a mixed-use asset in one of downtown Portsmouth's most desirable and walkable corridors. Anchored by a successful, long-term restaurant tenant with major capital investment and strong street visibility, this property offers both immediate income and long-term development potential. The second floor includes two approved residential units (approx. 2,600 SF total), both currently unfinished and ready for build-out-ideal for high-end rental or condo conversion. The unfinished basement, previously used as a sports lounge, offers strong potential for retail, gallery, or creative commercial use. Located in the Downtown Overlay District and eligible for vertical expansion under the 55-ft zoning limit, the site offers a rare path for phased redevelopment. Surrounded by restaurants, hotels, public parking, and regional medical and research institutions. Seller may consider partial financing or creative structuring with a qualified buyer. A strategic investment for developers or income-focused buyers looking to capitalize on Portsmouth's continued growth.
Listed by Edward Perez of Edward Perez

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Gilman Real Estate
Office: 603-772-0808
39 Front St
Exeter, NH 03833

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Basic Information

  • PermissionCertificate of Occupancy, Town Approvals

Building

  • Year Built1850
  • Vacancy50
  • ConstructionBrick Exterior
  • NumberOfUnitsInCommunity4
  • FoundationConcrete
  • BasementPartially Finished
  • Rail Available Y/NNo

Exterior

  • RoofAsphalt Shingle

Utilities

  • Heating CoolingNatural Gas

Other

  • Transport AccessPaved, Public Transportation
  • Date Listed06/06/2025
  • View Count35

Tax Information

  • Tax Year2024

Location

  • Building Number172
  • StreetHanover Street
  • TownPortsmouth
  • StateNH
  • Zip03801
  • CountyRockingham
  • Map126
  • Address172 Hanover Street

Property

  • Acreage0.12
  • Parking Spaces
  • Property TypeCommercial Sale
  • AreaNH-Rockingham
  • Lot Sqft5,227

Basic Information

  • Virtual TourView Tour
  • StatusACT
  • Modification Date11/12/2025
  • TypeOther
  • List Price$5,300,000
  • Broker NameEdward Perez
  • Listing Agent NameEdward Perez
  • Lister Office NameEdward Perez
  • MLS Number5045075
  • MLS StatusActive

Water Body

  • Docks1

Legal

  • Taxes$39,397
  • OtherStructuresLand/Building
  • ZoningCD1
  • Excluded From SaleTenant's personal property, restaurant-owned equipment, and any items not permanently affixed to the building are excluded.

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