Properties

Property Description

Tate and Foss Sothebys International Realty is pleased to present to qualified investors and owner-users, the outstanding opportunity to acquire Rye Place (Property), located at 150 Lafayette Road, Rye, New Hampshire, delivered fee simple and unencumbered by any brand affiliation. The subject property is a mixed use 27 key, two story boutique hotel with a 2-bedroom caretakers quarters and a two-story,16 unit retail/office mall, anchored by a newly opened restaurant.The Property, built in 1790, sits on a 4.08-acre parcel with 52,507 square feet under roof and 104 parking places with excellent visibility and access coming from the north or south. Current ownership committed over $2,000,000 in capital improvements, completing a major renovation to the hotel and mall as part of a property improvement plan. Inn at Rye Place is operated seasonally from May 1 through November 30. Permit in place to operate on a year round basis. The investment opportunity is being offered with pricing guidance at $6,400,000, which translates into a robust cap rate of 8.6% indicating an excellent potential for income generation. Tenant leases and financial information for existing retail spaces and hotel will be provided upon execution of a Non-disclosure Agreement. Rye Place is conveniently located to downtown Portsmouth NH, Boston, MA and Portland ME.

Property Details
Active
$15, 779
2023
0
COM
177, 725 Sqft
Yes
$112
482
Yes
Rye Place
Location
150 Lafayette Road
NH-Rockingham
US
NH
Rye
03870
NH-Rockingham
No
Exterior
: On-site
Concrete, Granite
Shingle - Asphalt
0
Interior
: Finished, Slab, Concrete, Partially Finished, Stairs - Interior, Stairs - Exterior, Storage Space, Concrete Floor, Insulated, Exterior Access, Interior Access, Stairs - Basement
Room Details
Equipment, Inventory, Land/Building/Business
Utilities
1500+ Gallon, Leach Field, Leach Field - Existing, Leach Field - On-Site, Private, Pumping Station, Septic Design Available, Septic
: Heat Pump, Forced air, Multi Zone, Mini Split
: Multi Zone, Central Ac, Mini Split
200 Amp, Circuit Breaker(s), Underground
Electric, Gas - LP/Bottle
Cable - At Site, Cable - Available, Telephone At Site, Telephone Available
Access Common Use Areas, Access Laundry No Steps, Access Mailboxes No Steps, Access Parking, Access Restrooms, Accessibility Features, Paved Parking
Listing Info
15586

For Sale

150 Lafayette Road, Rye, New Hampshire 03870

4.08 Acre
$5,900,000
MLS # 5010796
Basic Info
Tate & Foss Sotheby\'s International Rlty
Tony Jalbert
Property Type :
Listing Type : For Sale
Price : $5, 900, 000
Lot Area : 4.08 Acre
Year Built : 1790
MLS # : 5010796
Days On Market : 65
Agent info
Cowan & Zellers
Contact Agent