Lower Unit of Belknap Point Motel for sale
 

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...ercial/4328086

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

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.

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

Dan

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.

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

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.

$100k
 

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.

New Listing
 

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...32271&return=1

Update
 

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.

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

Is there an MLS liting? How much water frontage?

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

The MLS is 4332271

It can be viewed at www.baysidenh.net

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!

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

Bang for the buck
 

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.

.....hurray for Belknap Point Motel
 

.....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.