403 Main Street, Alton, NH, 03809 | $2,999,000

Nestled at the point of Alton Bay, NH where Main Street converges w/ Mount Major Highway along Route 11 scenic byway there lays a property elevated on a hill that overlooks the deep blue waters of Lake Winnipesaukee. The front building currently operating as Foster's Tavern, 7 rental apartments and a townhouse in the rear of the building. Back building holds 6 rental units. A lawn area between the buildings and a parking lot able to accommodate 33 cars. Both buildings freshly painted grey w/ green metal roof accents. The front building, 3 stories high w/ 9-foot ceilings, has stately white columns on the front façade and has 6 gables along each side towering over other structures nearby. The current owner has made many improvements to the property including new flooring, new tile showers, new counter tops, newer boiler along w/ many others too numerous to list here. Septic is 2 years. One of the charms of NH is driving country roadways through quaint colonial towns and Route 11 is not immune to this favorite past time. From Rochester in the East on the border of Maine to Charlestown in the West on the border of VT, Route 11 is the only highway to follow along Lake Winnipesaukee’s southern shore, running through the village of (low tax) Alton Bay. With a traffic count of 7800+, a frontage of 513 ft, a Seaplane Base w/ Ice Runway and a sharp curve that everyone must slow down for, 403 Main St simply will not be missed. Making this an investment property that will be noticed.

Features

  • Property Type: Business,Investment,Multi-Family,Other
  • Construction: Vinyl Siding
  • Parking: On-Site,Parking Spaces 21+,Paved
  • Units: 15
  • Zoning: RC-RES
  • Year Built: 1905
  • Acreage: 1
  • Est. Taxes: $9,511
  • MLS#: 4950606
  • Website: https://www.raveis.com
    /prop/4950606/403mainstreet_alton_nh?source=qrflyer
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Listing courtesy of Coldwell Banker Realty Nashua   Phone: 603-673-4000
Listing Agent: Jennifer St. Cyr

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403 Main Street, Alton, NH, 03809

$2,999,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $2,399,200 $2,399,200 $2,399,200
Term 360 months 360 months 180 months
Initial Interest Rate** 5.625% 6.500% 6.000%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.955% 6.612% 6.182%
Monthly Tax Payment $793 $793 $793
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $13,811 $15,165 $20,246
Total Monthly Payment $14,729 $16,083 $21,164

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.