[codeman671]

Originally Posted by fatlazyless

So, what will Irwin do with their new high-visibility addition, the former Lakeport Landing property, starting maybe in 24-months from now?

Will it be more boats?

Will it be pwc's/sno-mo's?

Will it be atv's?

Will it be kayaks, canoes, small sailboats?
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I have no clue, but my best so-called educated guess would be to use it for pwc's/sno-mo's, since that seems like a good all-year around fit for what they already have for a boats inventory, and I don't think Irwin's currently has any pwc's at Union Ave, Laconia.
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If Irwin's gets a thirty year commercial mortgage, the $528,000 purchase price divided by 30 years equals $17600/year for thirty years plus the interest, and the entire amount is a deductible business expense against any profits.

So, the question is .... is this new addition worth paying $17,600 plus bank interest per year for 30 years plus property taxes. After 30 years, they would own it if they choose to go this mortgage route? That's like $2000/month or something, total?

Was purchasing this property from the City of Laconia for $528,000 a good business decision for Irwin's?

Your math is a bit flawed. Commercial loans are typically 20 years, not 30. Assuming 25% down which is a standard in commercial, you are looking more like $2600 per month plus taxes. Not sure what the tax bill is there. Still, a small price to pay for convenience and expandability. Granted I am sure they could afford to stroke a check and pay it outright.