# 172 Hanover Street, Portsmouth, NH 03801

> **TL;DR:** commercial, $4,390,000, built 1850.
> Basement. Est. $19,023/mo. Listed 91 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $4,390,000 |
| Year Built | 1850 |
| Property Type | Commercial (Other) |
| Status | For Sale |
| Days on Market | 91 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $19,023 |
| **Total** | **$19,023** |

## Key Amenities

- Basement

## Property Highlights

- Built in 1850

## Description

### Agent Description
172 Hanover Street presents a compelling mixed-use investment opportunity featuring a substantial footprint and multiple income streams in a highly walkable downtown setting. The first floor is anchored by La Carreta, an established Mexican restaurant providing stable in-place income. The ground level was previously occupied by a nightclub and offers strong potential for re-tenanting as 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 immediate 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. Ideally positioned among boutique hotels, acclaimed restaurants, galleries, public parking, and major regional institutions, the property benefits from consistent foot traffic, tourism appeal, and sustained local demand. 172 Hanover Street is a rare offering that blends stabilized income with meaningful repositioning and growth opportunities in a vibrant downtown corridor.

## Location

- **Address:** 172 Hanover Street, Portsmouth, NH 03801
- **County:** Rockingham

## Listing Agent

- **Name:** Paul Annaloro
- **Brokerage:** RE/MAX Partners
- **Phone:** 9784752100
- **Email:** ploro@aol.com

## Primary Photo

![172 Hanover Street - Primary Photo](http://lh.rdcpix.com/6f686c4c4f0b7d799c9e3a3cb3cbcc4el-f80195735r.jpg)

*46 total photos available on [listing page](https://www.propertysimple.com/listing/172-hanover-street-portsmouth-nh-03801-5077945)*

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**MLS#:** 5077945 | **Updated:** 2026-06-19
**Source:** listhub

*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.*

[View on PropertySimple](https://www.propertysimple.com/listing/172-hanover-street-portsmouth-nh-03801-5077945)

---

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