Lakeport Landing business

fatlazyless · 06-10-2015, 12:55 PM

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?
................

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.
................

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?

06-10-2015, 12:55 PM	#11
fatlazyless Senior Member Join Date: Apr 2004 Posts: 9,169 Blog Entries: 1 Thanks: 310 Thanked 1,103 Times in 812 Posts	.... only time will tell? 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? ................ 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. ................ 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? __________________ .... Banned for life from local thrift store!