48 Market StPortsmouth, NH 03801

Property Details for 48 Market St

Year built

1830

Construction

FRAME

Lot size

0.03 AC

Property size (Sq ft)

3,655 SF

Zone code

CD5

Property type

Investment properties

Property subtype

Live-work space

APN

PRSM M:0117 B:0032 L:

APU

PRSMM0117B0032L

Description

This exceptional property at 48 Market Street in Portsmouth, New Hampshire, presents a unique investment opportunity. Built in the 1830s, this historic building offers a captivating blend of commercial and residential spaces. The first floor encompasses over 1,200 square feet of commercial retail space, ideal for a variety of businesses. High ceilings, exposed brick walls, and original features create a unique and attractive atmosphere. A charming small courtyard adds to the property's character. The residential component includes three apartments: two spacious two-bedroom units and a large studio apartment, providing excellent rental income potential. A full basement offers an additional 660 square feet of storage space. The total building size is 5,575 square feet. This property's location is unparalleled, situated in the heart of Portsmouth's vibrant downtown area. Its proximity to the Hanover Street parking garage and ample street parking ensures convenient access for both residents and patrons. The surrounding area is bustling with thriving businesses and cultural attractions, offering excellent visibility and foot traffic. This is a rare chance to acquire a piece of Portsmouth's rich history and capitalize on its continued growth. Note that this property can be purchased in conjunction with 56 Market Street (MLS# 5025554) for a combined price of $6,900,000.

• CAP approach

  CAP return

  Valuation

  6%

  $604,281

  6.5%

  $557,798

  7%

  $517,955

• Comparable approach

  Method

  Valuation

  Relative Method

  $477,562

  Geo Method

  $477,562

• Alternative Use

  Use

  Valuation

  Residential

  $691,669

  Hospitality

  $633,565

  Educational

  $527,119

  Medical

  $545,247

  Retail

  $819,962

Location Insight

City

Portsmouth

County

Rockingham

State

New Hampshire

Latitude

43.0778

Longitude

-70.7577

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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