Waterfront Restaurant Site with Full
For Sale
$3,600,000
990 Lafayette Rd, Portsmouth, NH 03801
Owner-occupied restaurant with a full bar and seating for 214, positioned on a high-visibility US Rt 1 waterfront site.
Property Size10,795 SF
Lot Size2.80 Acres
Price / SF$201.12
Days on Market94
Property Features for 990 Lafayette Rd
General Information
Standard status
Active
Size
10,795 SF
Lot size
2.80 Acres
Property subtype
Mixed Use
Zoning
performance zone
Site & Location
Traffic Count
20,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Restaurant
Seating Capacity
214
Equipment Included
Yes
Additional Details
Furnished
Yes
Amenities
waterfront
expansive nature views
Building Details
Building Size
10,795 SF
Year Built
1965
Buildings
2
Tenancy
Multi
Listing Agency:
Equity Group Realtors
Listed By:
James Ward · License #4786
(603) 526-4000
Source:
Commercialcafe
Added: Jul 28
Changed: Oct 25
Last Checked: Oct 28 at 4:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Equity Group Realtors
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Investment Insights
Based on property information with market context.
Owner-occupied restaurant with a full bar and seating for 214, on a Portsmouth gateway waterfront setting with expansive nature views. The property comprises 2 lots of record totaling 2.8 acres and includes two buildings totaling 17,900 SF, with a 7,000 SF restaurant plus 9,900 SF across two commercial tenants on month-to-month terms.
The site fronts US Rt 1 with highly visible 391 feet of frontage and includes 2 curb cuts, with potential for a third curb cut via a side road with signal. The property is described as a redevelopment opportunity within the city’s new performance zone, with zoning allowing mixed use.
A redevelopment concept is projected for a build out of 50,000 SF, with waivers needed. The zone is described as allowing 50 to 60 ft height and 60% lot coverage, with incentives up to 36 units per acre via CUP. The location is approximately 2 miles to Pease Tradeport and is also positioned near outdoor amenities and retail and restaurants in the area.
The site fronts US Rt 1 with highly visible 391 feet of frontage and includes 2 curb cuts, with potential for a third curb cut via a side road with signal. The property is described as a redevelopment opportunity within the city’s new performance zone, with zoning allowing mixed use.
A redevelopment concept is projected for a build out of 50,000 SF, with waivers needed. The zone is described as allowing 50 to 60 ft height and 60% lot coverage, with incentives up to 36 units per acre via CUP. The location is approximately 2 miles to Pease Tradeport and is also positioned near outdoor amenities and retail and restaurants in the area.
Key Highlights
- 2 lots of record totaling 2.8 acres
- 391 feet of frontage on US Rt 1 with 2 curb cuts; possible 3rd on side road with signal
- 7,000 SF owner‑occupied restaurant with full bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$253,056
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,061,120
$5.1M
Cap Rate 7%
$3,615,086
$3.6M
Cap Rate 9%
$2,811,733
$2.8M
Market Conditions
NOI Build-Up for 17,900 SF
Gross rent
$386.6K $21.60/SF
− Vacancy
−$25.1K −$1.40/SF
EGI
$361.5K $20.20/SF
− OpEx
−$108.5K −$6.06/SF
NOI
$253.1K $14.14/SF
Area
Rockingham County, NH
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,061,120
Cap Rate 7%
$3,615,086
Cap Rate 9%
$2,811,733
Alternative Uses
Best Use
Specialty Retail
$4.86M
$4.26M – $5.67M
NOI $340,498 @ 7.0% cap · market cap 9.46%
Second Best
Retail
$3.62M
$3.16M – $4.22M
NOI $253,056 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$5.96M
$5.21M – $6.95M
NOI $417,159 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
20,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
144k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 31%
Dining 30%
Groceries 25%
Home Improvements & Furnishings 8%
Market Basket
Groceries
35,728 visits/mo
0.3 miles
McDonald's
Dining
20,080 visits/mo
0.0 miles
Cumberland Farms
Shops & Services
18,600 visits/mo
0.4 miles
Dunkin' Donuts
Dining
11,065 visits/mo
0.2 miles
Harbor Freight Tools
Home Improvements & Furnishings
9,610 visits/mo
0.2 miles
Demographics for 03801, NH
22,767
Population
11,448
Households
2
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
23.8 sq mi
ZIP Area
957
Density / Sq Mi
$106,520
Median Household Income
$65,984
Median Earnings
$1,783
Median Rent
$647,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Owner-occupied restaurant with a full bar and seating for 214, positioned on a high-visibility US Rt 1 waterfront site.
Where is this conventional restaurant located?
The property is located at 990 Lafayette Rd Portsmouth, NH.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 2 lots of record totaling 2.8 acres; 391 feet of frontage on US Rt 1 with 2 curb cuts; possible 3rd on side road with signal; 7,000 SF owner‑occupied restaurant with full bar
