$5,900,000
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150 Lafayette Road Rye, NH 03870
Other
Residence
Beds
Baths
...
Bed/Bath
52,507
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
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 proper...ty 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.
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MLS#
5010796
Property Type
Other
Year Built
1790
Square Feet
52,507
sq. ft
Price per Sq. Ft.
$112.37
Lot Size
4.08
Sewer
Private Sewer System, Effluent Pump, Septic
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