Lower Unit of Belknap Point Motel for sale

SteveA · 12-08-2013, 07:54 AM

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

brk-lnt · 12-08-2013, 09:50 AM

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

Jeanzb1 · 12-08-2013, 10:28 AM

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 · 12-08-2013, 01:17 PM

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

Dan

Just Sold · 12-08-2013, 02:06 PM

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 · 12-08-2013, 08:56 PM

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 · 12-10-2013, 07:28 AM

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 · 12-10-2013, 08:05 AM

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 · 01-17-2014, 11:15 PM

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

SteveA · 03-22-2015, 06:56 PM

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 · 03-22-2015, 08:44 PM

Quote:

Originally Posted by 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.

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

Leoskeys · 03-22-2015, 11:12 PM

Is there an MLS liting? How much water frontage?

hblinn · 03-23-2015, 07:38 AM

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

The MLS is 4332271

hblinn · 03-23-2015, 07:40 AM

It can be viewed at www.baysidenh.net

BroadHopper · 03-24-2015, 06:34 PM

Quote:

Originally Posted by 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.

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 · 03-29-2015, 04:30 PM

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 · 03-30-2015, 01:15 PM

Quote:

Originally Posted by hblinn

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 · 02-24-2016, 10:06 AM

.....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 · 02-24-2016, 12:06 PM

Quote:

Originally Posted by 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!

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.

12-08-2013, 07:54 AM	#1
SteveA Deceased Member Join Date: Jul 2006 Location: Gilford, NH Posts: 2,311 Thanks: 1,070 Thanked 2,054 Times in 497 Posts	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 __________________ "Before you criticize someone, walk a mile in his shoes. That way, if he gets angry he'll be a mile away and barefoot!" unknown

12-08-2013, 09:50 AM	#2
brk-lnt Senior Member Join Date: Aug 2007 Location: South Down Shores Posts: 1,944 Thanks: 544 Thanked 570 Times in 335 Posts	Interesting. It's actually very tempting for the price. __________________ [insert witty phrase here]

12-08-2013, 01:17 PM	#4
ishoot308 Senior Member Join Date: Feb 2008 Location: Gilford, NH / Welch Island Posts: 6,249 Thanks: 2,391 Thanked 5,283 Times in 2,055 Posts	Definitely a fair price for that location!! That will sell quick! Dan __________________ It's Always Sunny On Welch Island!!

12-08-2013, 02:06 PM	#5
Just Sold Senior Member Join Date: Apr 2004 Location: Suncook, NH, but at The Lake at Heart Posts: 2,615 Thanks: 1,083 Thanked 434 Times in 210 Posts	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. __________________ Just Sold At the lake the stress of daily life just melts away. Pro Re Nata

12-08-2013, 08:56 PM	#6
SteveA Deceased Member Join Date: Jul 2006 Location: Gilford, NH Posts: 2,311 Thanks: 1,070 Thanked 2,054 Times in 497 Posts	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 __________________ "Before you criticize someone, walk a mile in his shoes. That way, if he gets angry he'll be a mile away and barefoot!" unknown

12-08-2013, 10:28 AM	#3
Jeanzb1 Senior Member Join Date: May 2009 Location: Gilford Posts: 555 Thanks: 628 Thanked 176 Times in 95 Posts	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.

12-10-2013, 07:28 AM	#7
dpg Senior Member Join Date: Apr 2004 Posts: 2,597 Thanks: 153 Thanked 229 Times in 166 Posts	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.

12-10-2013, 08:05 AM	#8
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,576 Thanks: 3,214 Thanked 1,103 Times in 794 Posts	$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. __________________ Someday may never be an actual day.

01-17-2014, 11:15 PM	#9
SteveA Deceased Member Join Date: Jul 2006 Location: Gilford, NH Posts: 2,311 Thanks: 1,070 Thanked 2,054 Times in 497 Posts	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 __________________ "Before you criticize someone, walk a mile in his shoes. That way, if he gets angry he'll be a mile away and barefoot!" unknown

03-22-2015, 06:56 PM	#10
SteveA Deceased Member Join Date: Jul 2006 Location: Gilford, NH Posts: 2,311 Thanks: 1,070 Thanked 2,054 Times in 497 Posts	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. __________________ "Before you criticize someone, walk a mile in his shoes. That way, if he gets angry he'll be a mile away and barefoot!" unknown Last edited by SteveA; 03-22-2015 at 07:04 PM. Reason: more information

The Following User Says Thank You to SteveA For This Useful Post:
hblinn (03-22-2015)

03-22-2015, 11:12 PM	#12
Leoskeys Senior Member Join Date: Feb 2015 Location: Lakes Region Posts: 148 Thanks: 131 Thanked 27 Times in 21 Posts	Is there an MLS liting? How much water frontage?

03-23-2015, 07:38 AM	#13
hblinn Junior Member Join Date: Jun 2012 Posts: 4 Thanks: 1 Thanked 0 Times in 0 Posts	The MLS will be going back up shortly- was down during contract. Water frontage is 200' The MLS is 4332271 Last edited by hblinn; 03-23-2015 at 10:06 AM.

03-23-2015, 07:40 AM	#14
hblinn Junior Member Join Date: Jun 2012 Posts: 4 Thanks: 1 Thanked 0 Times in 0 Posts	It can be viewed at www.baysidenh.net

03-29-2015, 04:30 PM	#16
hblinn Junior Member Join Date: Jun 2012 Posts: 4 Thanks: 1 Thanked 0 Times in 0 Posts	Three local banks are very familiar with the propeerty and willing to lend to a buyer with $200 to $300K down payment.

02-24-2016, 10:06 AM	#18
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,752 Blog Entries: 1 Thanks: 300 Thanked 1,010 Times in 736 Posts	.....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! __________________ ... down and out, liv'n that Walmart side of the lake!