150 Lafayette RD Active Save Request In-Person Tour Request Virtual Tour
Rye,NH 03870
Key Details
Property Type Commercial
Sub Type Business,Hospitality,Investment,Office,Opportunity,Other,Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5010796
Year Built 1790
Annual Tax Amount $15,778
Tax Year 2023
Lot Size 4.080 Acres
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.
Location
State NH
County Nh-rockingham
Area Nh-Rockingham
Zoning COM
Rooms
Basement Entrance Interior
Interior
Heating Electric,Gas - LP/Bottle
Cooling Central AC,Multi Zone,Mini Split
Inclusions Equipment,Inventory,Land/Building/Business
Equipment Smoke Detectr-Hard Wired,Air Conditioner
Exterior
Garage On-Site
Garage Description On-Site
Utilities Available Cable - At Site,Cable - Available,Telephone At Site,Telephone Available
Roof Type Shingle - Asphalt
Building
Foundation Concrete,Granite
Sewer 1500+ Gallon,Leach Field,Leach Field - Existing,Leach Field - On-Site,Private,Pumping Station,Septic Design Available,Septic