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Be Cool to have our own Dragstrip !!!
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From Kevin Jewer owner:
Asking price is 690k, and that comes with all the equipment you need to get started and 2 new buildings we put up. 37 acres, no zoning or curfews or noise ordinances or anything. It does need some work, mainly in paving and new score boards. Happy to answer any questions.
:bigthumb :bigthumb :bigthumb
Quote:
Originally Posted by k062693w
There are some other issues from what I understand with the buildings. They have to use porta-johns cause the main building where the restrooms are and food area is basically condemned. The tower needs work as well to its structural integrity.
But it is a functioning track and it is in the middle of nowhere for sure so you can do what you want. When it rains the pits where the grass is gets wet and unusable but they have a decent gravel area.
$15 TnT draws about 40 to 60 street cars and another 20 to 30 slick / radial cars every Friday.
It could be made into a Great Place with some work and money ...
Hate to see it close and sit ...
If I wasn't in the middle of my garage build, I would be all over this. I still wouldn't mind being a minority partner or shareholder. I have a decent head for business. And I know what racers expect. The shut down area is dangerous after the 1/4 mile stripe too. Could be a money maker or pit, depending on how you manage it.
It would require 25% down since it is a business property. That equates to roughly 170k. And interest rate would be in the 7% range, again, because it's commercial. So with that down it would be about a 2500/mo nut, excluding electric and payroll. Any improvements would of course be over and above this figure. But it would really make my day to see someone get this and turn it into the track it has the potential to be.
Yep ... I've been doing my homework and I figured offer 600k and then get an extra 100k for immediate renovations ...Quote:
Originally Posted by NXcoupe
I think where it's located is Great and the No restrictions means that races could go longer and attract larger crowds ...
Be a few years before it's a moneymaker, But as long as it pays the bills, I'm good with it ...
You've got the right outlook. Make sure there are no outstanding leans on the property before you go too far.
I know a lot of the local crowd that races there. My friend used to organize and hold all the Battle of the 28's and No Prep small tire races there.
:bigthumb :bigthumb :bigthumbQuote:
Originally Posted by NXcoupe
Finding the 1/4 mile stripe takes a few times to figure out too in my experience lol, it's a rough ride after the stripe to be sure, only thing comparable I've been on is Coastal Plains Raceway in NC, both of them offer plenty of opportunity for your ass to leave teeth marks in your seat. lol Would love to see someone or a group make this into what it could be and save another track from being closed permanently, plenty of money to be made there if ran correctly.Quote:
Originally Posted by NXcoupe
cant access the link. so speaking blind i think the price is way too high. given its so far out i would assume selling for development would not be an option if it fails. the avg price for farmland that produces is 5 to 10k per acre so to sell in worst case for that would be a an 8k per acre loss at min. is there anything under it mineral or aggregate wise? have u factored in propertytax andinsurance cost?
good luck
Quote:
Originally Posted by redfirepearlgt
Way Off ... If buying hundreds of acres of farmland you're about right, It's going for $20k an acre around here ...
And it's not Way Out, Maybe to you, But there's guys from all over the state at every race ...
Yes I've looked into the taxes and insurance, Property would need to generate aroun $10k a month to break even, Utilities included ...
It has Great Potential to be a Great Place with some cash and elbow grease ...
The 22 acres next to me just sold for $290k ...
I'm going on what you said with regard to the location. I am assuming its out on the boonies based on the following quote: "...37 acres, no zoning or curfews or noise ordinances or anything...". That indicates it is more rural than Edgewater in my book, and Edgewater if HARDLY out in the boonies by my standards. If you'd like to see boonies let me take you to our family farm in SW Indiana. It's only 200 acres. And as far as remote? The town 4 miles away has a part time gas station and two churches.
So buy it and make it happen. Sounds like you have it all under control.
They have pulled in a lot of cars from way out in the past. It has potential for sure.
Id think even one big race a month would be enough to cover for the year barring you get 6 off. Then the average test and tune or no prep testing would be additional.
Not sure what the insurance and utilities would be but Im sure its not cheap.
Exactly !!!Quote:
Originally Posted by draggin50
Below not directed at you Brian ...
And what I meant by out in the boonies (Remember I grew up in Southern West Virginia so I know boonies) is there are no houses to complain or have restrictions ...
It's actually shown to be worth what they're asking ...
The only real problem I have is I wouldn't be able to run it day to day, And would prefer another person or multiple investors to help with that ... Having skin in the game IMO would be better ...
Saw that MCIR sold today... Aaron, you pick it up?
Quote:
Originally Posted by draggin50
Nope ... Wasn't me, But saw it sold ...
Was simply asking questions from a perspective point of view of investing. If you don't want the public asking questions and pipe dreaming with you post it only to your friends on FB. So we both come from the boonies...just different locations of the same.Quote:
Originally Posted by k062693w
Quote:
Originally Posted by redfirepearlgt
Your opinion is noted and put promptly in the Trash ...
And nowhere did I ask for questions or pipe dreaming ...
I was looking for people interested in keeping a local tack open, Not opinions from people who have no interest other than giving their .02 ...