Lake Shore Farm Inn in Northwood NH
Hospitality
for Sale
Also listed as Special Purpose
| Catylist Listing ID: |
30869756 |
| Property Subtypes: |
Extended Stay, Inn, Resort, Vacation Rental(s)
|
| Number of Units: |
32 Units |
| Building Size (RSF): |
18,390 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
5 Acres
|
| Sale Price: |
$2,750,000 |
| Unit Price: |
$85,937.50 Per Unit |
| Property Use Type: |
Investment, Business |
| Name of Establishment: |
Lake Shore Farm Inn |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
10.61% |
| Last Updated: |
4/22/2024 |
Overview / Comments
Welcome to Lake Shore Farm Inn, an extraordinary real estate opportunity nestled in the charming town of Northwood, New Hampshire. This idyllic waterfront property, with 1250 feet of shoreline, presents a rare chance to own a magnificent retreat that seamlessly combines natural beauty, tranquility, and exceptional investment potential.
The Inn exudes charm with a mix of timeless character and modern upgrades. The Original Inn, built in 1891, has 12 guest rooms, 4 doubles, multiple dining rooms, a commercial kitchen and inn-keepers’ quarters. The Dembling building, with its 8 guest rooms and Tavern was added in the 1960’s along with the Annex with its 8 rooms overlooking the lake. In 1972, after the tavern fireplace was added, the two buildings were joined to the Inn.
With its expansive lawn and waterfront location the property was meant to entertain. The current owner has painstakingly renovated over the last four years. In 2022 the event center was turned into a 3750 SF Ranch with 3 bedrooms, 3.5 baths a custom kitchen and private deck overlooking the lake. The possibilities are endless: Owners Quarters, Health and Wellness Retreat, Rehabilitation, Wedding Party Housing or Airbnb. Ongoing renovations include window and door replacement, guest room refurbishment, flooring and painting. During Covid, the owner offered extended stay through a state program. In June 2023 she committed to renovating the rooms and has moved back to gradually accepting nightly reservations with some extended stay guests as well. This truly could be a waterfront destination that guests will enjoy coming back to for years.
|
Financials
| Finance Data Year |
2023 |
| Real Estate Taxes - Annual($) |
$11,117 (Annual) |
| Gross Operating Income |
$521,051 (Annual) |
| Net Operating Income |
$291,763 (Annual) |
| Actual or Proforma Year |
Actual |
Additional Details
| Nearest MSA: |
Boston-Cambridge-Newton |
| County: |
Rockingham |
| Tax ID/APN: |
08164-000203000002000000 |
| Zoning: |
JERRJENNESS RR |
| Retail Clientele: |
General, Family, Traveler, Tourist, Recreation |
| Property Visibility: |
Good |
| Largest Nearby Street: |
Route 4/202 |
| Feet of Frontage: |
530 |
| Highway Access: |
Route 4/102 |
| Airports: |
Manchester Regional Airport |
| Nearby Attractions: |
Seacoast, Concord, Mountains and Lakes Region all within an easy drive. |
| Property Condition: |
Good |
| Year Built: |
1891 |
| Year Renovated: |
2019 |
| Roof Type: |
Gable |
| Construction/Siding: |
Wood Siding |
| Water Recreation: |
Other |
| Exterior Description: |
1250 Feet of Waterfront on Jenness Pond. |
| Parking Type: |
Surface |
| Parking Description: |
On-site parking plus. |
| Sprinklers: |
Dry |
| Heat Type: |
Electricity, Propane, Oil |
| Heat Source: |
Baseboard, Heat Pump |
| Air Conditioning: |
Window Unit, Other |
| Internet Access: |
Cable, DSL, Fiber Optic |
| Water Service: |
Well |
| Sewer Type: |
Septic |
| Easements: |
Other |
| Easements Description: |
Easement for additional parking for 40 cars for overflow and special events.
Easement to repair and replace Inn Sign |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
1,350 |
5,184 |
10,186 |
| Median Age: |
42.57 |
41.25 |
42.05 |
| Households: |
511 |
1,973 |
3,811 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
Moody's assume any liability for errors or omissions.
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