Property Description

18 Hole Golf Course with Restaurant, Golf Shop & Maintenance Facility all on 139+-Acres priced at Only $12,589 per acre for Fast Sale /Offering Tremendous Upside Potential to develop 1/2 of the course into 201+-Homesites Plus 48 Unit Townhomes on 4 acres (on restaurant site). The restaurant with liquor license is leased. Past income of this business produced 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 @ $4,779 +/- per acre, $325,000; 67 acres with 201 homesites+48 Townhomes at $4,117 per homesite/unit, $1,025,000. Do Not Disturb restaurant tenant! Sale is confidential and buyer Must sign confidentiality agreement before showings & getting detail package.