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Listed by Tony Jalbert of Tate & Foss Sotheby's International Rlty
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.

More Info

Basic Information

  • Permission
    • Aerials
    • Certificate of Occupancy
    • Deed
    • Lease Agreements
    • Plot Plan
    • Property Disclosure
    • Septic Design
    • Survey
    • Tax Map
    • Town Approvals

Building

  • Year Built1970
  • NumberOfUnitsInCommunity46
  • FoundationConcrete, Granite
  • Square Feet52,507
  • BasementConcrete, Concrete Floor, Exterior Access, Finished, Insulated, Interior Access, Partially Finished, Slab, Stairs - Basement, Stairs - Exterior, Stairs - Interior, Storage Space
  • Rail Available Y/NNo

Amenities

  • Accessibility AmenitiesAccess Common Use Areas, Access Laundry No Steps, Access Mailboxes No Steps, Access Parking, Access Restrooms, Accessibility Features, Paved Parking
  • PricePerSqFt104.65

Tax Information

  • Tax Year2023

Location

  • Building Number150
  • StreetLafayette Road
  • TownRye
  • StateNH
  • Zip03870
  • CountyRockingham
  • Map10
  • Address150 Lafayette Road

Property

  • Acreage4.08
  • Parking Spaces
  • Property TypeCommercial Sale
  • AreaNH-Rockingham
  • Lot Sqft177,725
  • Road Frontage482

Basic Information

  • StatusACT
  • Modification Date12/01/2024
  • TypeBusiness, Hospitality, Investment, Office, Opportunity, Other, Retail
  • List Price$5,495,000
  • Broker NameTate & Foss Sotheby's International Rlty
  • Listing Agent NameTony Jalbert
  • Lister Office NameTate & Foss Sotheby's International Rlty
  • MLS Number5010796
  • MLS StatusActive

Exterior

  • RoofShingle - Asphalt

Utilities

  • Heating CoolingElectric, Forced Air, Heat Pump, Multi Zone, Propane, Mini Split
  • Phone CompanyVerizon

Other

  • AC percent100
  • Transport AccessCity Street, Major Road Access, Paved, State Highway
  • Date Listed08/22/2024
  • View Count13

Map Location

Driving Directions

Broker Reciprocity 

Copyright 2025 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated February 7, 2025 2:22 AM EST

 

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