The daily-fee, 18-hole golf course in Fort Myers, Fla., was designed by Gordon Lewis and covers 129 acres. A short-game practice area and a 6,400-sq. ft. clubhouse complement the golf course, which saw over 36,000 rounds in 2013 and year-over-year revenue growth since 2010.
Eagle Ridge Golf Club in Fort Myers, Fla., is on the market for $2.1 million. The sale includes a daily-fee, 18-hole golf course designed by course architect Gordon Lewis.
The club has been under Bank REO ownership for over three years. The property covers approximately 129 acres, and the course is complemented by a short-game practice area and a 6,400-sq. ft. clubhouse with Pro Shop and casual dining.
“Fort Myers is a strong market for golf, with considerable demand from retirees, local homeowners and seasonal visitors,” Matthew Putnam, listing broker for National Golf & Resort Properties Group of Marcus & Millichap Real Estate Investment Services, said.
“While the market features a relatively high number of golf courses, the majority of these are private clubs that cater to immediate neighborhoods. A well-maintained public course, such as Eagle Ridge, is strategically positioned to capture a large portion of local golfers and out-of-area guests. Many of today’s golfers feel they receive greater value by playing at high-quality public facilities, rather than paying monthly dues,” Putnam said.
Eagle Ridge has had year-over-year growth in revenue since 2010, with positive cash flow and a 2013 CAP Rate of 11%. Eagle Ridge played over 36,000 rounds in 2013.
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