RECENT GOLF COURSE LISTINGS & SALES

The NationalGolf and Resort Properties Group of Marcus & Millichap is pleased to announce the sale of Hammock Bay Country Club in Naples, FL and Palm Aire Country Club in Pompano Beach FL. SteveEkovich, the Director of the National Golf and Resort Properties Group and Chris Karamitsos, the groups' co-founder, represented both the buyers and sellers in the purchase and sale. The two transactions consisted of a total of 72 holes of golf bringing the number of courses sold by the group to 21 in the past 14 month.

As golfcourse brokers specializing in an array of golf courses for sale, The National Golf and Resort Properties Group will soon bring to market multi-course portfolios in Columbus, Oh and Williamsburg, Va. Please visit www.nationalgolfgroup.com for more information pertaining to these quality golf assets.

FEATURED PROPERTY

GOLF COURSE FOR SALE

EAGLE RIDGE AT SPRUCE CREEK COUNTRY CLUB

SUMMERFIELD, FL

Priced at $4,200,000, Eagle Ridge buys investors proven cash-flow at a three-year average NOI before management expense of $438,925. The Ocala market is supported by a bustling retirement population with little other than golf to occupy their time. And with approximately 3,250 houses within this gated, 55+ retirement community serving to fortify customer demand, play has averaged at 117,409 over the last three years, or nearly 60,000 rounds per 18-hole course. That is significantly higher than the national standard of approximately 32,500 rounds per 18-hole daily fee facility, and suggests there is ample room to move green fees north of current rates. 

Located in Central Florida along the I-75 corridor between Orlando and Gainesville, Ocala is known for its horse farms, small-town feel and retirement friendly communities. The city is continually rated as one of America's "Top Five Places to Live" by Money Magazine because of its mild three-season climate, beauty, shopping, restaurants, medical facilities, and low crime. 

From an investment standpoint, Eagle Ridge offers stabilized return from a proven, cash-flowing golf asset that is turnkey day one of ownership. Previously owned by the developer, a golf-centric ownership group can immediately capitalize on significant upside to move green fees north of current rates. Course play is protected by strong local demographics, proximity to the densely populated Villages community, and approximately 3,250 households of 55 and older Spruce Creek residents that play predominantly at their home course, Eagle Ridge. This surrounding strength in housing density from the immediate market area accounted for an outstanding 105,000+ rounds in 2010 from 288 "passholding" members, and $3.4 million in gross revenue. With modest improvements to club operations, this facility has great potential, both immediate and over the long-term, to become one of Ocala's most profitable golf operations.

Contact our golf brokers to learn more about this opportunity as well as other properties available.