Rye Airfield Buildings and Land

Industrial for Sale
Catylist Listing ID: 30648509
Property Subtypes: Flex Space, Free-Standing, Light Industrial, Warehouse/Distribution
Building Size (RSF): 55,791 SF
Gross Land Area: 23.90 Acres
Sale Price: $5,450,000
Unit Price: $97.69 PSF
Ceiling: 34 ft. / 29.5 ft. Clear
Docks/Doors: 8 Doors
Office SF: 6,302 SF
Drive In Bays: 1 Bay
Property Use Type: Vacant/Owner-User
Building Name: Rye Airfield
Usable Size (USF): 55,791 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/7/2020

Overview / Comments

Rye Airfield at 6 Airfield Drive is a 55,791+/- SF industrial building fit-up as an indoor skatepark, recreation center, and pro shop. It will be vacant when sold. The building is situated on a 23.90+/- acre lot that includes a 1,575+/- SF single family house, and a small outbuilding. House and outbuilding area are not included in the industrial building area. Airfield Drive is a private road built to Town of Rye road specifications.

6 Airfield Drive has an estimated 11+/- acres of buildable upland area. See the wetlands map in attached Offering Memorandum for additional information. The building is serviced by municipal water and private septic. Extensive engineering has been done to prepare for an extension of sewer to this site.

A 3.59 acre lot on the corner of Route 1 and Airfield Drive is also listed for sale. See Agent.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $29,325 (Annual)

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Rockingham
Submarket/Township: Portsmouth
Submarket Type: Suburban
Tax ID/APN: Map 10, Lot 15
Zoning: COMMERCIAL
Property Located Between: Washington Road and The Inn At Rye Place
Site Description: Relatively flat to rolling site. Estimated 11 acres of developable upland area (excluding building, parking lot, wetlands and setbacks).
Total Number of Buildings: 3
Number of Stories: 2
Property Condition: Good
Year Built: 2001
Roof Type: Gable
Construction/Siding: Metal Siding
Exterior Description: Sloped metal roof with metal siding. Eight 16' x 16' drive-in doors.
Parking Ratio: 0.6 (per 1000 SF)
Parking Type: Surface
Parking Description: 94 surface parking spaces in 4 rows
Total Parking Spaces: 94
Eave Height: 26.3
Column Spacing: 25
Sprinklers: Wet
Amps: 1,200
Volts: 480
X-Phase: 3
Heat Type: Propane, Oil
Heat Source: Central
Air Conditioning: Window Unit
Lighting: Fluorescent
Internet Access: Cable
Interior Description: One column line with 25' O.C. spacing. Sloped roof with 26'-3" to 34' ceiling height and 23'-6" to 29'-6" clear height. There is office/function room fit up on both floors totaling 6,302+/- SF as well as 2,597+/- SF mezzanine space. The warehouse area is 46,892+/- SF. There are seven bathrooms and two showers.
Zoning Description: Commercial Zone has several permitted uses and the majority of the Business Zone permitted uses are allowed as well. This lot has the Multifamily Dwelling Overlay which provides for multifamily housing development.
Lot Frontage: 663
Water Service: Municipal
Sewer Type: Septic
Easements Description: See Deed
Land Ownership: Owned
Legal Description: See Deed

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 14,156 44,856
Median Age: 43.97 44.68
Households: 6,008 19,715
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