List Price: $5,495,000 | $105 per sq.ft. Commercial
Space type Business w/ Real Estate,Free Standing Building,Lodging,Office Building,Retail Strip,Shopping Mall,Storefront
Price Change! Reduced by $905,000 down 16% on November 29th 2024
Rye place subdivision,
Date Listed Thursday Aug 22, 2024 | MLS# 5010796
Space type Business w/ Real Estate,Free Standing Building,Lodging,Office Building,Retail Strip,Shopping Mall,Storefront
Price Change! Reduced by $905,000 down 16% on November 29th 2024
Rye place subdivision,
Date Listed Thursday Aug 22, 2024 | MLS# 5010796
To see this Listing
Address: 150 Lafayette Road Rye NH
Listed by Tony Jalbert Tate & Foss Sotheby's International Rlty
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.
Building Type : Business | Hospitality | Investment | Office | Opportunity | Other | Retail
Disability Features : Access Common Use Areas | Access Laundry No Steps | Access Mailboxes No Steps | Access Parking | Access Restrooms | Accessibility Features | Paved Parking
Equipment : Smoke Detectr-Hard Wired | Air Conditioner
Misc : Drip Irrigation | Fire System | Furniture Included | Inventory Included | Living Space Available | Phone System | Public Restrooms | Security System | Smoke/Heat Detectors | Programmable Thermostat
Sale Includes : Equipment | Inventory | Land/Building/Business
Listed by Tony Jalbert Tate & Foss Sotheby's International Rlty
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.
Building Type : Business | Hospitality | Investment | Office | Opportunity | Other | Retail
Disability Features : Access Common Use Areas | Access Laundry No Steps | Access Mailboxes No Steps | Access Parking | Access Restrooms | Accessibility Features | Paved Parking
Equipment : Smoke Detectr-Hard Wired | Air Conditioner
Misc : Drip Irrigation | Fire System | Furniture Included | Inventory Included | Living Space Available | Phone System | Public Restrooms | Security System | Smoke/Heat Detectors | Programmable Thermostat
Sale Includes : Equipment | Inventory | Land/Building/Business
Features
Signage: Some
Rail Service: N
Transport Info: City Street | Major Road Access | State Highway | Paved
Signage: Some
Rail Service: N
Transport Info: City Street | Major Road Access | State Highway | Paved
Income
Net Income| 0
Management Expense: $0
Insurance Expense : $0
Net Income| 0
Management Expense: $0
Insurance Expense : $0
Construction Information:
Year Built: 1970
Wood Frame | Wood Exterior
Price Per SQ.FT. 104.65 No. of Units: 46
Building Size : 52507
Divisable SQFT : Yes
Building Type: Business | Hospitality | Investment | Office | Opportunity | Other | Retail
Year Built: 1970
Wood Frame | Wood Exterior
Price Per SQ.FT. 104.65 No. of Units: 46
Building Size : 52507
Divisable SQFT : Yes
Building Type: Business | Hospitality | Investment | Office | Opportunity | Other | Retail
ExteriorRoof: Shingle - Asphalt
InteriorBasement: Concrete | Concrete Floor | Finished | Insulated | Partially Finished | Slab | Stairs - Exterior | Stairs - Interior | Storage Space | Interior Access | Exterior Access | Stairs - Basement
Sprinkler: Dry.
Land Information
Lot size: 4.08 acres
Zoned: COM
SurveyedBy: Ambit Engineeri
Flood Zone: No
Road Frontage: 482
Garage And Parking: On-Site
Road Frontage: 482
No. of Docks | 0.
UtilitiesHeating: Electric | Forced Air | Heat Pump | Multi Zone | Propane | Mini Split
Cooling: Central AC | Multi Zone | Mini Split
Electric: 200 Amp | Circuit Breaker(s) | Underground
Utilities: Cable - At Site | Cable - Available | Telephone At Site | Telephone Available
AC % | 100.
Additional Information
Docs Available : Aerials | Certificate of Occupancy | Deed | Lease Agreements | Plot Plan | Property Disclosure | Septic Design | Survey | Tax Map | Town Approvals
Taxes $15,779
Assesed Value Not Reported
Docs Available : Aerials | Certificate of Occupancy | Deed | Lease Agreements | Plot Plan | Property Disclosure | Septic Design | Survey | Tax Map | Town Approvals
Taxes $15,779
Assesed Value Not Reported
Schools
