Downtown Portsmouth NH - Building For Sale FEATURED

MLS #:
Listing Type: For Sale
Property Type: Multi-use
Price: $1,100,000
Location: 409 The Hill
New Hampshire 03801
Style: Colonial
Year Built: 1870
Half Bathrooms:
Lot Size (acres): 1.23 acres in common
Size (square feet): 0
Condition: Project - needs work
Additional Out Buildings:
Submission Date: 01-31-2017
Last Update: 02-02-2017
Agent Details: Robert Marchewka
Company Name: One Commercial Real Estate
Phone Number: 6033738725
Cell Number:
The property known as 409 The Hill, Portsmouth NH is for sale. The purchase price includes the real estate and the equipment and infrastructure for The Blue Mermaid Restaurant, which is still operating as a profitable going concern. Known as The Nutter-Rymes House c.1870, this building has been home to a restaurant since the late 1970’s. The building is part of a 12-unit condominium association that owns the 1.23+/- acre site in common; each building has its own limited common land area surrounding the building for the exclusive use of that property owner. The buildings that comprise The Hill Condominium Association are historic in nature, the subject property is listed on the National Historic Register. The property is located in the Central Business B Zoning District CD4-L1which allows for commercial and residential uses but requires first floor use to be commercial. The property can continue to be used as a restaurant or it can be redeveloped into mixed-use commercial and residential. There is a gated parking lot on site currently used by all members of the condominium association on a first come-first served basis. There is a loading zone adjacent to the building for deliveries. A 900 vehicle municipal parking garage is located one block away. This property and The Hill Condominiums have been in the center of several recent major downtown development projects, surviving through years of surrounding new building and emerging as an historic oasis among new construction. This location and the Blue Mermaid Restaurant in particular benefits by now being next door to the customer base of three major hotels, and over 150 residences. An approved neighboring development will include a Whole Foods Market, Convention Center, a Boutique Hotel, condominiums, office space and a 500 vehicle parking garage.

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Downtown Portsmouth NH - Building For Sale
Front of Building

Downtown Portsmouth NH - Building For Sale
Northeast Corner

Downtown Portsmouth NH - Building For Sale
Rear of Building

Downtown Portsmouth NH - Building For Sale
Southwest Corner

Downtown Portsmouth NH - Building For Sale
Shared Gated Parking Lot

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