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Golf Course for Sale SE of Cleveland OH - 10.8 Yield

Golf Course for Sale SE of Cleveland OH - 10.8 Yield Golf Course for Sale SE of Cleveland OH - 10.8 Yield Golf Course for Sale SE of Cleveland OH - 10.8 Yield

Property Overview

Price/Rent PSF $ 2,250,000.00
Asset Type Business for Sale
Secondary Asset Type Land
Trade Type Sale
SQ. FT. Available 135.00
Date Available 03/03/2021
Search Demographic Data LandCheck Explore financing options
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Description

Location is southeast of Cleveland Ohio.Highlights for Income Producing 18-Hole Golf Course with over 135 Acres of Land and improvements. It is operating year-round and has gone through several improvements.

This 18-Hole year-round Golf Course has attractive landscaping and offers numerous amenities:

It offers a combination of Water, Hills, Wooded Areas and “Happy Grass”.

Has a Bar & Grill open all year;

Has On-Site Pro-Shop; Retailer shop with exclusive brands.

It is Hosting Golf Tournaments; Growing league memberships.

It has optimal facilities maintenance with new equipment.

Has newly resurfaced/maintained Large Parking area.

Utilities: Water, Gas , Electric.

Owner has recently upgrading entire facility including Greens.

Financial Performance: In 2020 the Gross Revenue was about a record $919,000 aided by Covid-19 “stay-home” requirements, closed gyms, a milder winter than 2019, etc. The Seller is working on bringing more golf leagues to sign up (helped partially by the closing of another golf course.)

Operating Staff: Seller is very happy with the employees and requires Buyers’ discretion.

Asking Price: $2.25 million with an estimated CAP Rate of about 11%.

For more information please contact: Elias E. Ladon,

Real Estate Agent, Pro-Classic Real Estate Inc.

Agent’s Address: 3659 Green Road, Suite 100, Cleveland, OH 44122;

Broker’s Address: 14381 Alexander Road, Walton Hills, OH 44146

Email: [email protected] ;

CALL Aget: 216-295-1136 (m/t); 216-803-0107 (f); Broker: 440-221-4109

PLEASE NOTE: Seller will be pleased to entertain visits by interested parties after they sign a Non-Disclosure Agreement and Buyer Profile demonstrating their ability to finance the transaction. Detailed financial information will be prested to interested parties after a mutually accepted Letter of Intent is in place.

CO-BROKERING FEE ALLOWANCE: Selling Broker is Offering 1% (one percent) of the Transaction Consideration to the Buy-Side Broker.

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