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-   -   Maple Grove for sale (https://classracer.com/classforum/showthread.php?t=73245)

skills 06-05-2019 11:22 PM

Re: Maple Grove for sale
 
Is that a profitable business model, to own a drag strip?

1320racer 06-06-2019 05:43 AM

Re: Maple Grove for sale
 
It's sale price is based on the value of the land, not the facility. Therefore IF it is sold, it most likely will be sold to a developer.

Bruce Noland 06-06-2019 06:18 AM

Re: Maple Grove for sale
 
Quote:

Originally Posted by 1320racer (Post 590120)
It's sale price is based on the value of the land, not the facility. Therefore IF it is sold, it most likely will be sold to a developer.

No developer will pay $17,777.00 per acre for that land or anything close to that amount.

1320racer 06-06-2019 06:23 AM

Re: Maple Grove for sale
 
that's the "asking": price and IF it sells, then we'll see who bought it and what their plans are.

Bruce Noland 06-06-2019 06:40 AM

Re: Maple Grove for sale
 
Quote:

Originally Posted by 1320racer (Post 590122)
that's the "asking": price and IF it sells, then we'll see who bought it and what their plans are.

As I said, or anything close to that price. The facility carries the bulk of the value in this offering. The road system simply does not lend itself to the kind of development necessary to make sense. Sure a few random events each year is ok. But that road system is not set up for large development traffic.

Nmbr1GMfan 06-06-2019 08:25 AM

Re: Maple Grove for sale
 
https://dragracingedge.com/featured-...TuEVR4wbyRPk6o

Signman 06-06-2019 09:49 AM

Re: Maple Grove for sale
 
Quote:

Originally Posted by Bruce Noland (Post 590121)
No developer will pay $17,777.00 per acre for that land or anything close to that amount.


Bruce
That may very well be true in a lot of cases but it's not uncommon to pay 50K for an acre parcel or more in that area.

https://www.realtor.com/realestatean...n_PA/type-land

Being subdivided and developed by a large home builder even with all the headaches am sure the campground acreage would be very attractive.

Homes pricing runs from middle income on up:
https://www.realtor.com/realestatean...le-family-home

May not be a "no brainer" for large home builder but still feasible when considering high end developments with all the amenities being popular these days for those with cash retiring.

jwsamuel 06-06-2019 12:26 PM

Re: Maple Grove for sale
 
Quote:

Originally Posted by 1320racer (Post 590120)
It's sale price is based on the value of the land, not the facility. Therefore IF it is sold, it most likely will be sold to a developer.

Not in that area. Developers can buy land all over the county for less than that.

Dan Bernay 06-06-2019 10:36 PM

Re: Maple Grove for sale
 
Does no good to speculate what could happen, I for one will wait until there is an actual sale

jwsamuel 06-07-2019 09:06 AM

Re: Maple Grove for sale
 
Quote:

Originally Posted by Dan Bernay (Post 590156)
Does no good to speculate what could happen, I for one will wait until there is an actual sale

Stop making sense.


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