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172 Hanover St Portsmouth, NH 03801

Sponsored
For Sale
$4,800,000

Commercial For Sale - Portsmouth, NH

Days on Market:
1
Last Refresh:
Mar 3 at 11:06 pm

Property Features for 172 Hanover St

General Information

Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Zoning
CD5
Rooms
Basement
Basement Y/N
1

Building Details

Year built
1850
Architectural style
Other

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Listing Contact
Paul Annaloro
Paul Annaloro

RE/MAX PARTNERS (978) 475-2100

Listing agent Paul Annaloro (978) 475-2100

Listing date Mar 3, 2026

MLS# 5077945 Listing URL

Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

Mixed-Use Investment in Downtown Portsmouth

172 Hanover Street offers a mixed-use investment opportunity with a substantial footprint and multiple income streams in a walkable downtown setting. The first floor is anchored by La Carreta, an established Mexican restaurant providing stable income. The ground level, previously a nightclub, offers potential for re-tenanting as a restaurant, entertainment, or retail space, creating additional revenue upside. The second floor may be approved for residential use and can potentially be permitted for two units. These unfinished spaces provide value-add potential for luxury rentals, owner occupancy, or high-end condominium conversion, allowing an investor to capitalize on strong residential demand in the area. Positioned among boutique hotels, restaurants, galleries, public parking, and major regional institutions, the property benefits from consistent foot traffic, tourism appeal, and sustained local demand. This property blends stabilized income with repositioning and growth opportunities in a vibrant downtown corridor.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

La Carreta Mexican ... Restaurant Equitable Financial Services ... Financial Advisor HHA Compliance (Bike/Boat/Book/etc) Store

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Portsmouth
County
Strafford
State
New Hampshire
Longitude
-70.7604328
Latitude
43.0770867

FAQs

What type of property is this?
Mixed-use property - Mixed-use property with income and repositioning potential in vibrant downtown.
Where is this mixed-use property located?
The property is located at 172 Hanover St Portsmouth, NH.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: - Mixed-use property in a highly walkable downtown location with multiple income streams.; - Established Mexican restaurant (La Carreta) provides stable, in-place income.; - Second floor offers value-add potential for residential units (luxury rentals, owner occupancy, or condos).
More about this property
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