....empty stores?

fatlazyless · 01-24-2010, 09:57 PM

Thought I'd start a thread on lakes region empty stores.

Some Meredith empties:

The very large retail space between Rite Aid and the sporting goods store whose name I cannot remember. Available since November 2008 when first constructed; never rented, never occupied.

The space formerly occupied by the very accomplished Tape Escape ...

The empty building adjacent to the Meredith roundabout, formerly occupied by The Practice Room. By the way, The Practice Room, which is a yoga studio, successfully moved to a nearby spot, the old original Meredith Harley-Davidson location. May that old HD force be with them......vvvrooommm---budda-budda....Oooom!

The undeveloped land space, formerly occupied by Pemi Glass opposite the roundabout....Pemi moved to a better location.

Burlwood Antiques: That large red barn building all loaded up with antiques & dealers & history & antiques fans is seemingly gonzo for good-zo. Will Burlwood ever return?

Abondante Ristorante & Bakery.....after 12 years....will definately miss the over-sized plate of chicken parmisiano & pasta.... & b&w half moons from the bake shoppe....

The vacant land space formerly Dave's Dockside, across from Mobil Gas... Dockside moved to a better location across town.

The large empty retail space, formerly Jackson-Star super market...continues indefinately to be a large empty space.

The empty retail space formerly NH state liquor store which has moved to a nearby larger space....have to wonder why state liquor didn't move in next to Rite Aid...

Did I miss anything?

Oh yes, and last but certainly not the least; the vacant office building high up on Sunset Hill attached to the cell phone tower that was home to the infamous Financial Resources Mortgage 'Ponzi' business, which is alleged to have robbed and defrauded $80-100-million from some very unhappy & very angry investors & borrowers as they now learn all about bankruptcy, lawyers, and clawbacks. Could be described as a group of well-to-do investors, attracted by a seemingly safe 15% annual return, that got turned into a chain gang of angry folks wondering what the heck happened and where's their money?
.......

What's the outlook for empty retail spaces in your town? How's business and how's the empty retail spaces?

trfour · 01-24-2010, 11:49 PM

Wal-Mart cutting 11,200 jobs...
http://www.msnbc.msn.com/id/35046668...ail/?GT1=43001

riverat · 01-25-2010, 08:22 AM

5 & 10 store
Video store
Other empty store same side as video store
Laundramat
tire warehouse
and a building next door i think thrift store
Dockside
probably more

fatlazyless · 01-25-2010, 12:58 PM

Directly across from the Cumberland Farm store in Ashland, there's a large four-story masonry building that has two large empty retail stores at the street level and apartments on the three upper levels. Both empty stores have been vacant for aproximately maybe three years now. Previously, one was home to Grant's 5 & 10 cent store which must have been a long time tenant as it appeared to be a 1920's style olde-fashioned retail biz that must have been in that spot for ages. And, the other vacant retail spot was a real estate office that moved to a better location.

So, how much rent does a vacant store generate for the property owner, and does the town lower its' property tax bill in response to a vacant store?

Yosemite Sam · 01-25-2010, 01:31 PM

Quote:

Originally Posted by fatlazyless

So, how much rent does a vacant store generate for the property owner, and does the town lower its' property tax bill in response to a vacant store?

Did your property tax go down because you are unemployed?

Don't you wish!

fatlazyless · 01-25-2010, 04:44 PM

As a rule of real estate value, don't you multiply the annual income times eight to determine the value of a commercial building, so less rental income = lower value.

Sunbeam lodge · 01-25-2010, 04:51 PM

[QUOTE=fatlazyless;117475]Thought I'd start a thread on lakes region empty stores.

Some Meredith empties:
The John Deere store?

fatlazyless · 01-25-2010, 06:09 PM

[QUOTE=Sunbeam lodge;117546]

Quote:

Originally Posted by fatlazyless

Thought I'd start a thread on lakes region empty stores.

Some Meredith empties:
The John Deere store?

No, the John Deere building was purchased by Pemi Glass for their glass biz, and they in turn subdivided maybe half (?) the retail area to a new biz that is a package forwarding biz for the likes of UPS/FDX.

A pretty good argument can be made that the most local of all Meredith businesses is the Etcetera Shoppe. It's a huge consignment shop where both the consignor (management) and consignee (supplier of merchandise) are probably local folks. Believe they work on a 66%-consignee, 33%-mgmt price split, which is very decent considering that some consignments stores work on a 50-50 split. Unless you are shopping for a car, then Etcetera is one of the best stores in town, and it gets a lot of traffic, 7-days/week.

From books to records to ice skates to kitchen stuff to clothes to furniture to antiques to bicycles to skis to hockey gear to wet suits to tools to glassware to retro clothes to you-name-it........Etcetera!

breathe easy · 01-25-2010, 06:51 PM

Here in Moultonborough it looks like Townsends Grocery is closed. Gilligans has been vacant for some time ( some open and broken windows too!).
Love Bites also closed a few months ago.

Pineedles · 01-25-2010, 07:58 PM

Don't forget Glenn's Store in Center Sandwich.

Argie's Wife · 01-26-2010, 09:08 AM

Quote:

Originally Posted by riverat

5 & 10 store
Video store
Other empty store same side as video store
Laundramat
tire warehouse
and a building next door i think thrift store
Dockside
probably more

The Five-&-Dime was purchased by Fiddleheads in Dover, NH (upscale vittles store)

The building that had Alton Video in it needs repairs and has a sign that reads something like this: FOR RENT. TENENT TO MAKE REPAIRS. It was on the rental market BEFORE the economy tanked.

Ditto for the laundromat - it was on the market a while back now...

Tire Warehouse was purchased by Alton Motor Sports and is a spare storage/garage space for them.

The empty space next to Cranberry's (yes, there was a thrift store there) is for rent but considering the business Cranberry's does, I don't see that being available for long.

Several new business, such as a wine and cheese shop, will be opening. We have a new cigar store at the bay...

All in all... it could certainly be worse but not much different than what we'd seen before things went bad in the economy...

BroadHopper · 01-26-2010, 09:16 AM

have reported up to a 40% drop in business. Many businesses have cut thier staff or reduce hours. There will be businesses that didn't make it through the winter and you will see more closures this spring.

All the license, registration and fees increases and new boating laws, shoreline protection act etc. are not going to help the economy at all!

Be prepared for 2010.

mcdude · 01-26-2010, 09:28 AM

Quote:

Originally Posted by Argie's Wife

The Five-&-Dime was purchased by Fiddleheads in Dover, NH (upscale vittles store)

AW: Last I heard this was in negotiations. Do you know that it is a done deal? Thanks

jmen24 · 01-26-2010, 09:29 AM

Broadhopper, I agree completely. If you look away from what the Board of Realtors, Wall Street, the government and the CNBC's of the world are saying and take a hard look at what 2009 was really like and how this year is starting compared to last you get a very clear picture that 2010 is going to be a nightmare. Hold on to what you've got cause its going to be a wild ride.

AW, where is this cigar store at the bay, inquiring minds would like the address, thanks.

Argie's Wife · 01-26-2010, 10:00 AM

I've heard from a very good source that the Five-&-Dime was sold.

The cigar shop is in the Pavilion at the Bay. I noticed they are open evenings on the weekend at this time.

jmen24 · 01-26-2010, 12:30 PM

AW. thank you

VtSteve · 01-26-2010, 02:09 PM

I think this year will be worse than last, because it will be more local. States have been balancing budgets on the stimulus funds, and many have made only half-hearted attempts to reduce costs.

The way overboard spending habits of local and state governments will have to be broken, not funded. There is a reason tax revenues are down so much, and they need to adjust accordingly. Of course, government worker layoffs have much the same impact on unemployment and local commerce as any other layoffs.

I had an actuary show me that if California's expenses had been adjusted for the cost of living, and any population changes, they'd have a surplus now equal to what their deficit is.

It should also be noted that all of the warnings of big box stores and contracting for help with no benefits is also coming home to roost. It would be a brave soul indeed that took over a lease for retail space right now.

jeffatsquam · 01-26-2010, 06:15 PM

Quote:

Originally Posted by Pineedles

Don't forget Glenn's Store in Center Sandwich.

Well Pineedles that was great we have not called it Glen's since 1972

Then it was Bob's for a couple of years then Billy's till about 2002

Lakesrider · 01-28-2010, 05:41 PM

"The undeveloped land space, formerly occupied by Pemi Glass opposite the roundabout....Pemi moved to a better location."

Noticed last night that the garage has been torn down and an excavator was there working the dirt up. Maybe someone bought it and is going to put something in there. However the newish building across the street is still empty.

The old consignment shop just down the street is still empty as well.

In Wolfeboro, Halls Pharmacy closed, there are several building empty and up for rent, or sale.

winniplayhouse · 01-28-2010, 06:21 PM

Our plaza, Apenrose in Weirs Beach, is almost empty at the moment. Just down to us, the dentist and the dr/photography gallery. It was empty when we moved in, then it totally filled up for a while, now most of the businesses are gone. It's lonely!!

Wreckn1 · 01-31-2010, 08:56 PM

Quote:

Originally Posted by Lakesrider

"The undeveloped land space, formerly occupied by Pemi Glass opposite the roundabout....Pemi moved to a better location."

Noticed last night that the garage has been torn down and an excavator was there working the dirt up. Maybe someone bought it and is going to put something in there. However the newish building across the street is still empty.

The old consignment shop just down the street is still empty as well.

In Wolfeboro, Halls Pharmacy closed, there are several building empty and up for rent, or sale.

we demolished the garage and house back in november, we were asked to remove some soil from the property and thats it, we are done, as for whats going there wait and see

01-24-2010, 09:57 PM	#1
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,528 Blog Entries: 1 Thanks: 296 Thanked 957 Times in 698 Posts	....empty stores? Thought I'd start a thread on lakes region empty stores. Some Meredith empties: The very large retail space between Rite Aid and the sporting goods store whose name I cannot remember. Available since November 2008 when first constructed; never rented, never occupied. The space formerly occupied by the very accomplished Tape Escape ... The empty building adjacent to the Meredith roundabout, formerly occupied by The Practice Room. By the way, The Practice Room, which is a yoga studio, successfully moved to a nearby spot, the old original Meredith Harley-Davidson location. May that old HD force be with them......vvvrooommm---budda-budda....Oooom! The undeveloped land space, formerly occupied by Pemi Glass opposite the roundabout....Pemi moved to a better location. Burlwood Antiques: That large red barn building all loaded up with antiques & dealers & history & antiques fans is seemingly gonzo for good-zo. Will Burlwood ever return? Abondante Ristorante & Bakery.....after 12 years....will definately miss the over-sized plate of chicken parmisiano & pasta.... & b&w half moons from the bake shoppe.... The vacant land space formerly Dave's Dockside, across from Mobil Gas... Dockside moved to a better location across town. The large empty retail space, formerly Jackson-Star super market...continues indefinately to be a large empty space. The empty retail space formerly NH state liquor store which has moved to a nearby larger space....have to wonder why state liquor didn't move in next to Rite Aid... Did I miss anything? Oh yes, and last but certainly not the least; the vacant office building high up on Sunset Hill attached to the cell phone tower that was home to the infamous Financial Resources Mortgage 'Ponzi' business, which is alleged to have robbed and defrauded $80-100-million from some very unhappy & very angry investors & borrowers as they now learn all about bankruptcy, lawyers, and clawbacks. Could be described as a group of well-to-do investors, attracted by a seemingly safe 15% annual return, that got turned into a chain gang of angry folks wondering what the heck happened and where's their money? ....... What's the outlook for empty retail spaces in your town? How's business and how's the empty retail spaces? __________________ ... down and out, liv'n that Walmart side of the lake! Last edited by fatlazyless; 01-26-2010 at 12:44 PM.

01-24-2010, 11:49 PM	#2
trfour Senior Member Join Date: Nov 2002 Location: The Lakes, Central NH. and Dallas/Fort Worth TX. Posts: 3,694 Blog Entries: 3 Thanks: 3,069 Thanked 472 Times in 236 Posts	Wal-Mart cutting 11,200 jobs... http://www.msnbc.msn.com/id/35046668...ail/?GT1=43001 __________________ *trfour* Always Remember, The Best Safety Device In The Boat, or on a PWC Snowmobile etc., Is YOU! Safe sledding tips and much more; http://www.snowmobile.org/snowmobiling-safety.html

01-25-2010, 08:22 AM	#3
riverat Senior Member Join Date: Apr 2006 Location: Alton, NH Posts: 722 Thanks: 337 Thanked 280 Times in 123 Posts	Alton 5 & 10 store Video store Other empty store same side as video store Laundramat tire warehouse and a building next door i think thrift store Dockside probably more __________________ Waking up in the morning is the greatest, everything after that is a bonus

01-25-2010, 12:58 PM	#4
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,528 Blog Entries: 1 Thanks: 296 Thanked 957 Times in 698 Posts	Ashland Directly across from the Cumberland Farm store in Ashland, there's a large four-story masonry building that has two large empty retail stores at the street level and apartments on the three upper levels. Both empty stores have been vacant for aproximately maybe three years now. Previously, one was home to Grant's 5 & 10 cent store which must have been a long time tenant as it appeared to be a 1920's style olde-fashioned retail biz that must have been in that spot for ages. And, the other vacant retail spot was a real estate office that moved to a better location. So, how much rent does a vacant store generate for the property owner, and does the town lower its' property tax bill in response to a vacant store? __________________ ... down and out, liv'n that Walmart side of the lake!

01-25-2010, 04:44 PM	#6
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,528 Blog Entries: 1 Thanks: 296 Thanked 957 Times in 698 Posts	As a rule of real estate value, don't you multiply the annual income times eight to determine the value of a commercial building, so less rental income = lower value. __________________ ... down and out, liv'n that Walmart side of the lake!

01-25-2010, 04:51 PM	#7
Sunbeam lodge Senior Member Join Date: Apr 2004 Location: Meredith/Naples Florida Posts: 367 Thanks: 135 Thanked 50 Times in 26 Posts	[QUOTE=fatlazyless;117475]Thought I'd start a thread on lakes region empty stores. Some Meredith empties: The John Deere store?

01-25-2010, 06:51 PM	#9
breathe easy Senior Member Join Date: Jul 2009 Posts: 98 Thanks: 7 Thanked 23 Times in 9 Posts	Moultonborough Here in Moultonborough it looks like Townsends Grocery is closed. Gilligans has been vacant for some time ( some open and broken windows too!). Love Bites also closed a few months ago.

01-25-2010, 07:58 PM	#10
Pineedles Senior Member Join Date: Aug 2004 Location: Moultonborough & CT Posts: 2,535 Thanks: 1,059 Thanked 652 Times in 363 Posts	another one Don't forget Glenn's Store in Center Sandwich.

01-26-2010, 09:16 AM	#12
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,512 Thanks: 3,118 Thanked 1,090 Times in 784 Posts	Hospitality Industry have reported up to a 40% drop in business. Many businesses have cut thier staff or reduce hours. There will be businesses that didn't make it through the winter and you will see more closures this spring. All the license, registration and fees increases and new boating laws, shoreline protection act etc. are not going to help the economy at all! Be prepared for 2010. __________________ Someday may never be an actual day.

01-26-2010, 09:29 AM	#14
jmen24 Senior Member Join Date: Feb 2009 Posts: 1,139 Thanks: 223 Thanked 319 Times in 181 Posts	Broadhopper, I agree completely. If you look away from what the Board of Realtors, Wall Street, the government and the CNBC's of the world are saying and take a hard look at what 2009 was really like and how this year is starting compared to last you get a very clear picture that 2010 is going to be a nightmare. Hold on to what you've got cause its going to be a wild ride. AW, where is this cigar store at the bay, inquiring minds would like the address, thanks.

01-26-2010, 10:00 AM	#15
Argie's Wife Senior Member Join Date: Oct 2004 Location: Alton Posts: 1,908 Blog Entries: 1 Thanks: 533 Thanked 579 Times in 260 Posts	I've heard from a very good source that the Five-&-Dime was sold. The cigar shop is in the Pavilion at the Bay. I noticed they are open evenings on the weekend at this time.

01-26-2010, 12:30 PM	#16
jmen24 Senior Member Join Date: Feb 2009 Posts: 1,139 Thanks: 223 Thanked 319 Times in 181 Posts	AW. thank you

01-26-2010, 02:09 PM	#17
VtSteve Senior Member Join Date: Apr 2008 Posts: 1,320 Blog Entries: 1 Thanks: 230 Thanked 361 Times in 169 Posts	I think this year will be worse than last, because it will be more local. States have been balancing budgets on the stimulus funds, and many have made only half-hearted attempts to reduce costs. The way overboard spending habits of local and state governments will have to be broken, not funded. There is a reason tax revenues are down so much, and they need to adjust accordingly. Of course, government worker layoffs have much the same impact on unemployment and local commerce as any other layoffs. I had an actuary show me that if California's expenses had been adjusted for the cost of living, and any population changes, they'd have a surplus now equal to what their deficit is. It should also be noted that all of the warnings of big box stores and contracting for help with no benefits is also coming home to roost. It would be a brave soul indeed that took over a lease for retail space right now.

01-28-2010, 05:41 PM	#19
Lakesrider Senior Member Join Date: Jun 2007 Posts: 2,129 Thanks: 380 Thanked 1,016 Times in 345 Posts	"The undeveloped land space, formerly occupied by Pemi Glass opposite the roundabout....Pemi moved to a better location." Noticed last night that the garage has been torn down and an excavator was there working the dirt up. Maybe someone bought it and is going to put something in there. However the newish building across the street is still empty. The old consignment shop just down the street is still empty as well. In Wolfeboro, Halls Pharmacy closed, there are several building empty and up for rent, or sale.

01-28-2010, 06:21 PM	#20
winniplayhouse Senior Member Join Date: Sep 2004 Posts: 205 Thanks: 32 Thanked 58 Times in 41 Posts	Our plaza, Apenrose in Weirs Beach, is almost empty at the moment. Just down to us, the dentist and the dr/photography gallery. It was empty when we moved in, then it totally filled up for a while, now most of the businesses are gone. It's lonely!!