$5,900,000

THIS PROPERTY PRESENTS A RARE OPPORTUNITY TO BE PART OF THIS ICONIC NEW ENGLAND SEACOAST AND OWN A MOTEL WITH AN ATTACHED MALL WITH FULLY OCCUPIED RETAIL SPACES. 150 Lafayette Rd (Rye Place) is a 4.07 acre property situated on Route 1 in prestigious Rye, New Hampshire. The building consists of a 27 room completely renovated motel with a 2-bedroom manager’s apartment as well as a fully occupied 16-unit mall attached. Also, there is 3,000 plus square feet of undeveloped useable space. Rye Place is located in the epicenter of the New Hampshire Seacoast on Route 1 with easy access to everything local. A short 3 mile drive to local beaches, downtown Portsmouth and I-95 to Maine or Massachusetts.  Here are a just a few of the many updates that have been done throughout the property over the last 3 years: Hotel rooms remodeled top to bottom, Keyless entry system installed, New landscaping front and back including paving and walkways, Modern Mitsubishi Mini Splits, Electrical and plumbing throughout the lower level of inn is all new, New Fire Prevention system added to the lower level, New Irrigation system for the entire property, New septic system installed in 2021, a diverse group of long-term tenants including a 60 seat restaurant with outdoor seating, and a Gourmet Café with indoor/outdoor seating coming in early summer of 2023.  If you hurry, you can take advantage of the very busy summer season!