Lower Unit of Belknap Point Motel for sale

[SteveA]

The fine folks that own Belknap Point Hotel are selling the lower portion (lakeside). 8 units, include Three docks.

http://www.classichomesnh.com/nh-mls-listing/commercial/4328086

[brk-lnt]

Interesting. It's actually very tempting for the price.

[Jeanzb1]

I agree that the price seems more than reasonable. Again, though, it's such a Winni icon (like the Woodshed and the Weirs water slide) that I would hate to see it torn down.

[ishoot308]

Definitely a fair price for that location!! That will sell quick!

Dan

[Just Sold]

When it sells will the buyer convert it to condo's? Seems likely to me unless the seller or the town have some restriction preventing that already in place.

[SteveA]

I had this sent to me by the owners. This link has more info and a ton of photos.

http://www.baysidenh.net/propertydetail.asp?id=4328086

[dpg]

Almost seems to good to be true. Ad says "run the motel for 6 months with ABOUT $100,000 income." That's cheap money on the water for that potential income. Something just doesn't seem right just an average so-so home on the water costs almost that.

[BroadHopper]

Before taxes and expenses probably. You have to examine the books.
I can see turning one unit into owner occupied and renting the others. The problem is parking and a common area for recreation.

Otherwise turning them into condos.

[SteveA]

The owners have asked if I'd post this for them.

Looks to be the entire Hotel and the lakefront units.

http://www.nneren.com/listing_detail.html?id=4332271&return=1

[SteveA]

As I stated in the orginal message, I am friends with the current owners of the Belknap Motel and Inn.

Recently, Harry Blinn, (owner) asked if I'd bump this thread up up. They have new information and a reduced asking price.

Thanks,

From the owners:

"We originally posted the waterfront unit only which drew a lot of interest before it was decided to sell the whole Belknap Point package about a year ago. During that time there have been 3 contracts on the property and in each case failed due to buyer financing problems. In each case it comes off the market so as a result it has not been openely available that long. There are 3 local banks ready and willing to loan 80% financing toward the purchase. The price has been reduced to 1.25 million."

http://www.bpmotel.com/

For the record, I have NO business interest in this transaction in any way, just posting this for a friend. Please direct any questions to the folks at Belknap Point.

[hblinn]

Before taxes and expenses probably. You have to examine the books.
I can see turning one unit into owner occupied and renting the others. The problem is parking and a common area for recreation.

Otherwise turning them into condos.

Part of the package is very a nice residence that we have really enjoyed for 20 years.

[Leoskeys]

Is there an MLS liting? How much water frontage?

[hblinn]

The MLS will be going back up shortly- was down during contract.
Water frontage is 200'

The MLS is 4332271

[hblinn]

It can be viewed at www.baysidenh.net

[BroadHopper]

As I stated in the orginal message, I am friends with the current owners of the Belknap Motel and Inn.

Recently, Harry Blinn, (owner) asked if I'd bump this thread up up. They have new information and a reduced asking price.

Thanks,

From the owners:

"We originally posted the waterfront unit only which drew a lot of interest before it was decided to sell the whole Belknap Point package about a year ago. During that time there have been 3 contracts on the property and in each case failed due to buyer financing problems. In each case it comes off the market so as a result it has not been openely available that long. There are 3 local banks ready and willing to loan 80% financing toward the purchase. The price has been reduced to 1.25 million."

http://www.bpmotel.com/

For the record, I have NO business interest in this transaction in any way, just posting this for a friend. Please direct any questions to the folks at Belknap Point.

It is a fact that after the 2007 'bubble burst', the feds have passed a multitude of 'tangled webs', hoping to avoid the burst again. This results in difficulty in getting business loans, a big reason why lots of businesses remains unsold, and in some cases dissolved. There is a lot of talks to ease the 'slack', but to no avail. Today one must seek 'creative financing' to realize their dream. Buying and selling businesses was not a problem before 2007. Now it is a nightmare!

[hblinn]

Three local banks are very familiar with the propeerty and willing to lend to a buyer with $200 to $300K down payment.

[Ms Molly McKever]

Three local banks are very familiar with the propeerty and willing to lend to a buyer with $200 to $300K down payment.

I hope some one buys It, and keeps it the same but
1.25 Million with 300k down for a 7 day a week job. Thats Y most go condo.

[fatlazyless]

.....hurray for Belknap Point Motel .... article in yesterday's Laconia Daily Sun, Feb 23, 2016 ...... all about the motel, new owners and a little on what they intend to do with it ...... that's a beautiful location with some deep water right there ..... and a big morning sunrise from across the water ..... Belknap Point Motel ..... time to rise and shine!

[Airedale1]

.....hurray for Belknap Point Motel .... article in yesterday's Laconia Daily Sun, Feb 23, 2016 ...... all about the motel, new owners and a little on what they intend to do with it ...... that's a beautiful location with some deep water right there ..... and a big morning sunrise from across the water ..... Belknap Point Motel ..... time to rise and shine!

I agree! I am very happy to see that they sold the place. You are so right about the location. The views from there are beautiful. I wish the new owners luck.