990 Lafayette Rd

2.8 AC W/BLDGS WATERFRONT

Portsmouth gateway location. The only commercial site on Rt. 1with waterfront and expansive nature views front and back, for a one-of-a-kind setting. 2 lots of record totaling 2.8 acres. Highly visible 391 feet of frontage on US Rt 1 (20,000 VPD, 2 curb cuts, possible 3rd on side road with signal). A unique redevelopment opportunity in the city’s new performance zone. This is an ideal flagship hotel site in a high occupancy market. Existing buildings at this prime location make this a smart investment income property. 2 buildings with a total footprint of 17,900 SF. 9900 SF with 2 commercial tenants (under market rates, mo. To mo.). And a 7000 SF owner occupied thriving restaurant with a full bar. A favorite since 1968. Seating for 214 people. Available turnkey with FFE, etc. Redevelopment concept projected build out at 50,000 sf. (waivers needed) Zone allows mixed use. 50 -60 Ft. height, 60% lot coverage. Incentives up to 36 units per acre(CUP) Only comm site on rt. 1with expansive broad views in both directions. Of tidal flats and sagamore river and protected natural areas. Nearby amenities: city nature park w/trails. Retail center, restaurants, Over 1000 new units w/in 1 mile last 2 yrs. 20,000 VPD per NHDOT. 2 miles to Pease Tradeport (300 companies, 9000 workers) or downtown.