Description
18 Hole Golf Course with Restaurant, Golf Shop & Maintenance Facility with Equipment all on 139+-Acres priced at Only $12,949 per acre for Fast Sale /Offering TremendousUpside Potential to develop 1/2 of the course into 201+-Homesites Plus 48 Unit Townhomes on 4 acre (on restaurant site) while retaining the balance of the course as 9 Hole Golf Course, add pickle ballcourts & add a spa on the extra commercial lot for even more potential profit!60 Golf Carts & equipment are included in sale & the restaurant with liquor license is leased. Past income of this businessproduced 8% Cap Rate 2021 & 9% Cap Rate 2022. This course is the Only Golf Course in Lake Placid.Allocation of values / Proforma Metrics: Restaurant, $400,000; 9-hole golf course @ $4,105 +/- per acre, $275,000; 67 acres with 201 homesites+48 Townhomes at $4,117 per homesite/unit, $1,025,000; golf cart and equipment, $150.000.Do Not Disturb restaurant tenant! Sale is confidential and buyer Must sign confidentiality agreement before showings & getting detail package of information!
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0BEDS
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134.09ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
18 Hole Golf Course with Restaurant, Golf Shop & Maintenance Facility with Equipment all on 139+-Acres priced at Only $12,949 per acre for Fast Sale /Offering TremendousUpside Potential to develop 1/2 of the course into 201+-Homesites Plus 48 Unit Townhomes on 4 acre (on restaurant site) while retaining the balance of the course as 9 Hole Golf Course, add pickle ballcourts & add a spa on the extra commercial lot for even more potential profit!60 Golf Carts & equipment are included in sale & the restaurant with liquor license is leased. Past income of this businessproduced 8% Cap Rate 2021 & 9% Cap Rate 2022. This course is the Only Golf Course in Lake Placid.Allocation of values / Proforma Metrics: Restaurant, $400,000; 9-hole golf course @ $4,105 +/- per acre, $275,000; 67 acres with 201 homesites+48 Townhomes at $4,117 per homesite/unit, $1,025,000; golf cart and equipment, $150.000.Do Not Disturb restaurant tenant! Sale is confidential and buyer Must sign confidentiality agreement before showings & getting detail package of information!
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