172 Hanover Street, Portsmouth NH 03801

Exceptional opportunity to own a prominently located mixed-use property in the heart of downtown Portsmouth’s thriving commercial district. This high-visibility asset is anchored by a well-established commercial tenant with a long-term lease and significant capital improvements already completed. The second floor is fully approved for two residential units, each approximately 2,600 square feet. One of these units remains unfinished and ready to be built out, offering a strong value-add opportunity through luxury rental or condo conversion. The lower level, previously operated as a successful hospitality space, is also unfinished and has attracted interest for creative reuse. Located within the Downtown Overlay District and eligible for vertical expansion under current zoning, this property offers a rare chance to combine current income with long-term development upside. Surrounded by public parking, high-end retail, and a recently redeveloped research facility, this location benefits from consistent foot traffic and demand. A standout investment opportunity in one of New Hampshire’s most desirable coastal markets.