how much is coolridge golf course worth

Full Answer

How much is a golf course worth today?

Golf course real estate isn’t what it once was. At least not right now. Those in the industry will tell you that a golf course that was purchased for $5 million in 2006 would be worth about $2.5 million today.

How much does it cost to build a golf course?

The median cost to build a golf course is $14 million, not including buying the land. The lowest-priced golf courses cost $7 million. Others cost as much as $25 million. Building greens is one of the most important tasks, and it can cost as much as $60 per square foot.

What are the most expensive golf courses in the world?

The St. Andrews golf course is considered one of the most expensive golf courses in the world regarding greens fees, reports Golf Span. The largest golf complex in Europe, St. Andrews has seven different courses with the Old Course being the oldest. It's considered the “Home of Golf,” where Scots began playing the game back in the 1500s.

Are private golf courses a good investment?

For buyers, there’s understandably greater interest in golf courses in areas with a 12-month playing season. More sophisticated shoppers also tend to gravitate toward private golf courses because there’s typically a more dependable source of income as opposed to the vagaries of daily- fee play.

How much did Doyle pay for the golf course?

The $3.8 million Doyle paid for the course, in Florida’s third-biggest market, is slightly more than the average purchase price ($3.1 million) for the 114 golf course sales tracked by Leisure Investment Properties Group last year. And the majority of transactions in the current environment involve first-time buyers, like Doyle.

Where is Gold Canyon Golf Resort?

The Gold Canyon Golf Resort & Spa is in the foothills of the Superstition Mountains in Arizona and features two 18-hole courses—Dinosaur Mountain and Sidewinder—that combine for 64,000 rounds-played annually. The sale includes the salon and spa, three restaurants, 97 casitas and villas, meeting and banquet rooms, and 76 acres of development land along fairways. The entire offering covers approximately 370 acres.

How much is Eagle Marsh?

Price: $4.9 million. Eagle Marsh is a Tommy Fazio-designed public course spread across 256 acres in an affluent, gated community in the heart of the Treasure Coast. The closest golf course to Hutchinson Island and its beaches, it is a premier South Florida golf destination.

Where did Dan Doyle Jr. play golf?

E very day for almost 20 years, Dan Doyle Jr. passed the same public golf course near Tampa, Fla., while driving his kids to school or heading to the office. The town-owned Belleview Biltmore Golf Club in Bellaire was the venue at which Doyle learned to play the game as a youngster and he’d frequently feel pangs of disappointment ...

When did PGA National Resort and Spa change hands?

PGA National Resort & Spa and its five golf courses previously changed hands in 2006 for $170 million and the property is now up for sale again. Beyond the golf courses, one of which hosts the PGA Tour’s Honda Classic, the luxury resort features 339 hotel rooms, a 40,000-square-foot spa, 42,000 square feet of meeting space, restaurants, and has invested $89 million in renovations since the 2006 sale.

Is the golf course market oversupplied?

D o profitable opportunities exist? Yes , but th e reality is that the golf course market is oversupplied, the byproduct of more than 4,000 courses being built from 1986–2005. It’s why course closures have outweighed new course construction for the past decade. While some closures are attributable to mismanagement, too few golfers, or too much competition, this trend has been largely driven by residential and commercial real estate, and the demand for land.