150 Lafayette Road , Rye, NH 03870
Rye, NH 03870
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 approx. 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 October 30, with a tremendous upside to increase revenue on a year round basis. Permit in place to operate year round. The investment opportunity is being offered with pricing guidance at $5,495,000 which translates into a robust cap rate of 10.5% 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.
Details
| Mls | 5010796 |
|---|---|
| Listing Type | For Sale |
| Buildingname | Rye Place |
| Subtype | Resale |
| Status | (10) Active - Active |
| Year | 1970 |
| Days On Site | 109 |
| Listing Provided By | Tate & Foss Sotheby's International Rlty | Tony Jalbert |
Features
| Basement | Y |
|---|---|
| Units | 46 |
| Zoning | COM |
| Acreage | 4.08 |
Market Activity 03870
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Learn More About This Property
| State | NH |
|---|---|
| County | Rockingham |
| City | Rye |
| Zip Code | 03870 |
| Listing VS Median (in 03870) | |
Price: $5,495,000 low | high Med: $624,999 On Site: 109 low | high Med: 935.000000 | |
