Review restaurant spaces for lease, second-generation build-outs, assignments, and subleases in New Hampshire.
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Market Context
What tenants need to understand about leasing restaurant space across New Hampshire's submarkets.
New Hampshire has approximately 3,200 restaurant locations serving 1.4 million residents and generating annual industry sales of approximately $3.4 billion. The restaurant economy concentrates in the southern half of the state along the I-93 and I-95 corridors, with the Manchester-Nashua-Concord triangle anchoring commercial volume, the seacoast (Portsmouth, Dover) anchoring premium dining, and the Upper Valley (Lebanon) anchoring the western Connecticut River corridor. Tourism from the lakes region, the White Mountains, and the seacoast adds substantial seasonal demand layered on the year-round resident base.
Restaurant lease rates in New Hampshire vary by submarket but are broadly more accessible than comparable Massachusetts markets. Portsmouth Market Square commands the highest rents in the state at $48 to $65 per square foot annually. Manchester Downtown and the Millyard run $26 to $42. Nashua and Lebanon cluster in the $22 to $38 range. Concord, Dover, Keene, and Rochester offer the most accessible entry costs at $18 to $34 per square foot. The state's lack of a sales tax produces distinctive restaurant economics, particularly in southern New Hampshire cities along the Massachusetts border.
All New Hampshire restaurant acquisitions involving alcohol service must work through the New Hampshire Liquor Commission (NHLC) Division of Enforcement and Licensing. New Hampshire has one of the most distinctive alcohol regulatory environments in the United States: the state operates a retail monopoly on off-premise liquor sales through approximately 80 NH Liquor and Wine Outlet stores, generating substantial state revenue. On-premise restaurant licensing, however, is comparatively accessible and not quota-limited, unlike states such as Utah, Massachusetts, or New Jersey. Restaurant license types include the Restaurant Liquor License (full beer, wine, and spirits service) and the Restaurant Beer and Wine License. Licenses do not transfer with the property or business sale; any buyer must apply separately to NHLC. The 9 percent New Hampshire Meals and Rentals Tax applies to all prepared food and beverage sales and is paid by the customer. New Hampshire's absence of a state sales tax (one of only five US states with no statewide sales tax) makes restaurant pricing and customer draw economics distinctive in the broader New England context, particularly for southern New Hampshire restaurants on the Massachusetts border and Upper Valley restaurants on the Vermont border.
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Distinct regional markets across New Hampshire, each with different rent ranges and operating profiles.
Tenant Guide
Compare hood, grease trap, walk-in, seating, patio, parking, utilities, and build-out condition before touring.
Ask whether the rentable opportunity is a direct lease, assignment, sublease, or turnkey build-out with existing restaurant infrastructure.
Confirm landlord consent, use approvals, health permits, alcohol licensing, signage, and local inspections for the address.
Compare base rent, NNN, tenant improvements, equipment needs, deposits, and permit costs before submitting an offer.
About PepperLot
PepperLot organizes restaurant space searches around the details tenants need in New Hampshire: build-out condition, hood, grease trap, seating, rent structure, and permit context.
New Hampshire restaurant lease rates range from $18 per square foot annually in the state's most accessible markets to $65 per square foot for premium destination corridors. Beyond base rent, tenants should factor in CAM, property tax pass-through, insurance, and any landlord-required tenant improvements.
New Hampshire restaurant on-premise licenses are issued by the New Hampshire Liquor Commission (NHLC) Division of Enforcement and Licensing. Unlike states such as Utah, Massachusetts, and New Jersey, New Hampshire does not operate a quota system for on-premise restaurant licenses, making the licensing process comparatively accessible. License types include the Restaurant Liquor License (full beer, wine, and spirits service) and the Restaurant Beer and Wine License. The state operates a retail monopoly on off-premise liquor sales through the NH Liquor and Wine Outlet stores, but this is separate from on-premise restaurant licensing. Licenses do not transfer with the business or property sale; any buyer must apply separately to NHLC. The 9 percent Meals and Rentals Tax applies to all prepared food and beverage sales.
New Hampshire is one of only five US states without a general state sales tax. Instead, the state applies a 9 percent Meals and Rentals Tax to all prepared food and beverage sales at restaurants, plus a 9 percent tax on lodging. The Meals and Rentals Tax is paid by the customer and remitted by the restaurant operator monthly to the New Hampshire Department of Revenue Administration. The absence of a general sales tax produces distinctive restaurant pricing and customer draw economics, particularly for southern New Hampshire cities on the Massachusetts border and Upper Valley cities on the Vermont border.
New Hampshire restaurant leases typically run five to ten year initial terms with one or two five-year renewal options. Triple-net (NNN) structures are standard, meaning the tenant pays base rent plus their proportionate share of property tax, insurance, and CAM. Personal guarantees are common with scope varying by landlord.
On Pepperlot, second-generation restaurant lease inventory in New Hampshire concentrates in the major metro areas. The market-by-market detail is available on each city page linked below.
