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News & Press: Lodging News

Brownie's Motel at Hampton Beach up for auction

Tuesday, May 3, 2016  
Posted by: Emily Owens
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Brownie's Motel at Hampton Beach up for auction
By Max Sullivan - Seacoast Online

A motel that has been a longtime Hampton Beach fixture will go on the auction block next week with a starting bid of $700,000.

Brownie’s Hotel at 180-182 Ashworth Ave. will be auctioned May 13 at 11 a.m. on the property by Sullivan & Sullivan Auctioneers. The hotel has been at its location near P Street for the last six decades. The motel was built in 1940, and the property’s value is assessed at $844,100, according to Hampton town records.

Auctioneer Marianne Sullivan said the motel’s 18 rooms, parking and year-round capability makes the property a good opportunity for a prospective buyer. She said the hotel was bought by a Boston-based lending company about 10 years ago by Wallace Capital, a hard money lender based in Boston.
Sullivan said Wallace is not making a “distress sale,” but rather seeking to sell the property to someone who is better suited to compete in the hospitality industry. She said the hotel has been run by a manager who lives on the property.
“It’s a really good opportunity for an owner or an operator to come in, or an investor,” Sullivan said. “Somebody new will really be able to maximize revenues where it hasn’t been done.”

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