Downtown Mixed-Use
For Sale
$1,750,000
84-88 Pleasant St, Portsmouth, NH 03801
Existing shell offers a redevelopment opportunity for commercial space with residential use above.
Property Size7,165 SF
Price / SF$244.24
Days on Market33
Property Features for 84-88 Pleasant St
General Information
Standard status
Active
Size
7,165 SF
Property Condition
Severity
Major Repairs Needed
Evidence
significant rehabilitation
Building Details
Year Built
1850
Listing Agency:
KW Coastal and Lakes & Mountains Realty
Listed By:
Nathan W Dickey
(603) 610-8500
Source:
603propertygroup
Added: Sep 5
Changed: Oct 5
Last Checked: Oct 6 at 12:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Coastal and Lakes & Mountains Realty
Investment Insights
Based on property information with market context.
This 7,165-square-foot mixed-use property dates to 1850 and is currently configured as an existing shell requiring significant rehabilitation. The structure supports a redevelopment concept combining street-level commercial space with residential units on the floors above.
Located at 84-88 Pleasant St in downtown Portsmouth, the property is near restaurants, shops, galleries, entertainment, and the waterfront. The setting also provides access to year-round downtown activity, offering a central context for a mixed-use project.
Located at 84-88 Pleasant St in downtown Portsmouth, the property is near restaurants, shops, galleries, entertainment, and the waterfront. The setting also provides access to year-round downtown activity, offering a central context for a mixed-use project.
Key Highlights
- 7,165‑square‑foot mixed‑use property
- Existing shell with significant rehabilitation required
- Potential for street‑level commercial space with residential units above
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,293
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,025,860
$2.0M
Cap Rate 7%
$1,447,043
$1.4M
Cap Rate 9%
$1,125,478
$1.1M
Market Conditions
NOI Build-Up for 7,165 SF
Gross rent
$154.8K $21.60/SF
− Vacancy
−$10.1K −$1.40/SF
EGI
$144.7K $20.20/SF
− OpEx
−$43.4K −$6.06/SF
NOI
$101.3K $14.14/SF
Area
Rockingham County, NH
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,025,860
Cap Rate 7%
$1,447,043
Cap Rate 9%
$1,125,478
Alternative Uses
Best Use
Retail
$1.45M
$1.27M – $1.69M
NOI $101,293 @ 7.0% cap · market cap 5.79%
Second Best
Mixed Use
$953.5K
$834.3K – $1.11M
NOI $66,742 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$2.39M
$2.09M – $2.78M
NOI $166,980 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,422
Businesses Nearby
61k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 64%
Shops & Services 24%
Dining 10%
Home Improvements & Furnishings 3%
Hilton Garden Inn Portsmouth Downtown
Hotels & Casinos
12,451 visits/mo
0.2 miles
Hampton Inn & Suites Portsmouth
Hotels & Casinos
9,382 visits/mo
0.3 miles
Residence Inn Portsmouth Downtown/Waterfront
Hotels & Casinos
8,761 visits/mo
0.3 miles
Sheraton Portsmouth Harborside Hotel
Hotels & Casinos
8,034 visits/mo
0.3 miles
La Carreta
Dining
5,807 visits/mo
0.2 miles
Demographics for 03801, NH
22,767
Population
11,448
Households
2
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
23.8 sq mi
ZIP Area
957
Density / Sq Mi
$106,520
Median Household Income
$65,984
Median Earnings
$1,783
Median Rent
$647,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing shell offers a redevelopment opportunity for commercial space with residential use above.
Where is this mixed-use property located?
The property is located at 84-88 Pleasant St Portsmouth, NH.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 7,165‑square‑foot mixed‑use property; Existing shell with significant rehabilitation required; Potential for street‑level commercial space with residential units above
