Calling all entrepreneurs and investors...this is an amazing opportunity to own a thoughtfully updated, extremely charming and well-maintained commercial building right in the heart of downtown Hillsborough! Layout allows for multiple configurations to provide opportunity for business expansion as needed, and many upgrades (3-phase power, central air, central vac, & 24/7 fire/smoke monitoring to name a few) will provide peace of mind! 3-4 units on the main level, including a vacant but well-equipped café/restaurant space that was home to a successful ice cream shop for many years. Also on the first floor are two occupied units (one retail, one office) and one additional vacant unit that housed a beloved bakery years ago. The second floor is truly a hidden gem! A grand ballroom w/ stage that's been used as a function room for special events, complete with a beautiful chandeliered entry & side room for coats/storage, its own bathroom, partial kitchen space, and a back deck that could be transformed into an outside oasis! With its separate, street level entrance, this 2nd floor space may also have potential to be owner's living quarters (w/ town approvals, of course). Even more...two additional finished rooms in the lower level for extra income potential, and multiple other rooms that could provide space for owner or tenant storage. Many on-street parking spots in close proximity & several nearby municipal lots. So much potential here at such a reasonable price...don't miss it!