1602 Mount Major HwyAlton, NH 03810

Property Details for 1602 Mount Major Hwy

Year built

1920

Construction

FRAME

Lot size

2.22 AC

Property size (Sq ft)

6,918 SF

Zone code

LR-LAK

Property type

Other commercial real estate

Property subtype

Showrooms

APN

ALTN M:63 B:13

APU

ALTNM63B13

Description

This exceptional turnkey restaurant opportunity is located on high-traffic Route 11 in Alton, New Hampshire. The main floor boasts ample seating for 95 guests, including a fully equipped bar area. A second-floor function room provides additional capacity for 46 guests, perfect for private events or larger gatherings. The property also includes a convenient three-bedroom owner's apartment on the third floor, offering comfortable living quarters above the business. Recent extensive renovations have significantly upgraded the building, including a brand new, fully equipped commercial kitchen, substantial power upgrades to meet operational demands, a modernized HVAC system, and improved septic infrastructure. Internal flow has also been remodeled for optimal efficiency and guest experience. The second and third floors have undergone complete remodeling to enhance seating capacity and create the comfortable owner's apartment. Situated in the Lakes Region, encompassing approximately 30 communities and a population of roughly 112,000, this location benefits from a significant seasonal influx of visitors. With nearly 30% of homes being seasonal residences, the summer months see a substantial population increase, with an average visitor spending at least $85 per day. This presents a unique opportunity for a chef or restauranteur to establish or expand their business in a vibrant and thriving market. The 2.2-acre lot provides ample space and potential for future development. This is a rare chance to acquire a well-established and updated restaurant in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,681,316

  6.5%

  $1,551,984

  7%

  $1,441,128

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,277,843

  Geo Method

  $2,277,843

• Alternative Use

  Use

  Valuation

  Residential

  $1,309,156

  Hospitality

  $1,199,180

  Educational

  $997,704

  Medical

  $1,032,016

  Retail

  $1,551,984

Location Insight

City

Alton Bay

County

Belknap

State

New Hampshire

Latitude

43.5526

Longitude

-71.3114

CBSA code

29060

CBSA name

LACONIA, NH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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