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    • Rye Motor Inn & Swim Shop for sale for .5 million
    Tennessee

    Rye Motor Inn & Swim Shop for sale for $6.5 million

    Eira Gwyneth Posted on

    RYE — The retro Rye Motor Inn & Swim Shop is for sale for $6.5 million. The news comes three years after the local hotelier behind the business transformed the property into a mid-20th century-style motel with a beach and surf vibe.

    Doug Palardy, founder and owner of Seacoast Apart-Hotels, has owned the 741 Ocean Blvd property since April 2020. At that time, Palardy purchased the former Pebble Cove Motel on site from former owners Stephen and Beth McCann for $1.64 million and set about renovating the property and converting it into the Rye Motor Inn & Swim Shop.

    Palardy’s Motel was listed on July 30.

    “After 18 years of bringing boutique hotel concepts to the coast, I look forward to downsizing in 2025 to spend more time with friends and family,” Palardy said in a statement Monday.

    Occupying two buildings, Rye Motor Inn offers 12 studio and one-bedroom apartment-style units and a heated, seasonal outdoor pool, while the adjacent Swim Shop, directly across from the ocean, offers retail products, swimwear, jewelry and motel items.

    The entire restaurant operation is located on a 1.52 acre site and there is approval to build an additional two-bedroom apartment above the retail store.

    Palardy also owns The Inn Downtown in Portsmouth, a boutique aparthotel, and the Great Island Inn in neighboring New Castle. He founded the Islander Cafe in New Castle in 2022, which has since been sold to the owners of Lil’s Cafe in Kittery, Maine, in the former Henry’s Market Cafe space on Main Street.

    “Rye Motor Inn continues to grow year after year and is poised for significant growth as a buyer looks to add small events, a food and beverage program, and the approved (two-bedroom) apartment through The Swim Shop,” added Palardy. “We’ve had a lot of activity since the listing went live last week as there is a national trend toward roadside motels and motor lodges leaning into their mid-century roots with recent renovations.”

    Each unit at Rye Motor Inn includes a fully equipped kitchen with a refrigerator, a private bathroom, a work area, air conditioning and amenities for long-term guests. Additionally, the hotel offers concierge services, according to Palardy. Check-in and check-out at Rye Motor Inn is contactless.

    The year-round property on Ocean Boulevard was last valued by the city at $1,857,200, according to Rye land records.

    “The oversized heated pool with spacious deck and stunning views of the Isles of Shoals is an ideal setting for small events,” the property’s listing states. “The large, flat yard accommodates tents, a perfect setting for popular mini weddings of 30 or fewer guests. The poolside cabana with bathroom was designed to accommodate a commercial catering company’s kitchen/bar for event purposes.”

    “This unique property has been completely modernized for the modern traveler and now features new trendy retro-style furnishings, making it ready for further growth,” the listing continues.

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    Eira Gwyneth
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