PRICE REDUCTION! DEVELOPMENT OPPORTUNITY (Plotted for 100-165 Units) with 18-Hole Golf Course Stroudsburg, PA www.nationalgolfandmarina.com Exclusively listed by: Eddy A. Dingman National Golf & Marina Properties Group 847-313-4633 847-987-6626 eddy@nationalgolfandmarina.com
TABLE OF CONTENTS I. Executive Summary... 1 Cherry Valley Golf Club Overviews - Club House - Maintenance Overview Sale Price: $2,445,000 Plotted for 100-165 units 18-hole Golf Course Taxes: Approx $35,000 Located in Poconos Mountains Just over an hour from Manhattan & Philadelphia - Equipment Roster II. Property Photographs... 4 Cherry Valley Golf Club Photographs - Course Photographs - Club House Photographs III. Poconos Mountains... 6 Poconos Mountain Overviews - About - Things to Do - Places to Stay IV. Location Summary... 8 Location Overviews - Aerial - Course Map - Plat of Survey I. Closing Valuation... 11 Property Valuation - Broker s Opinion - Financials - Contact Information
EXECUTIVE SUMMARY PRICE REDUCTION! Sale Price: $2,445,000 Plotted for 100-165 units 18-hole Golf Course Taxes: Approx $35,000 Located in Poconos Mountains Just over an hour from Manhattan & Philadelphia The National Golf and Marina Properties Group of Coldwell Banker Commercial NRT is pleased to offer the sale of this beautiful development opportunity/golf course located in Poconos Mountains, Pennsylvania for the reduced sale price of $2,445,000, with low taxes of approximately $35,000. This major tourist destination poses a tremendous opportunity for the right investor. The 50-acre course sits on approximately 194 acres of land that is zoned O-1, which is open land/ single-family residential. There is potential to create a town home, single-family residential development or senior housing development on this property. The property is located in the Pocono Mountains, which are known for their variety of activities, resorts, outdoor interests, bed and breakfasts, etc. The four county area surrounding the mountains boast quaint downtown areas and 150 lakes including Lake Wallenpaupack. Just an hour and a half from Manhattan and Philadelphia, the Poconos have long been a vacation and resort destination. Golf has historically played a vital part in the area s tourism and continues to be a draw today. 1
course overview The Course The Cherry Valley Golf Club has now become one of the places to play in the Poconos. Cherry Valley Golf Club is located in Stroudsburg, PA, just minutes off of Route 80! Golfers from everywhere are raving about the changes made over the last six seasons. With the renovations complete, golfers of all abilities can enjoy the Club from a variety of tee locations. Cherry Valley Golf Club is still one of the most scenic Clubs in the Poconos. Cart paths on all 18 holes, new tees added and rebuilt for increased yardage, irrigation system upgrades, bunkers and grass mounds added, and numerous trees planted. The course rating is 64.0 and it has a slope rating of 115. Course is a par 72, 18-hole course and feature a practice fairway, putting green, and irrigation. The paths are paved on all 18 holes. Property is 194 acres Golf course is approximately 50 acres Zoned O-1 Stround Township The Clubhouse The five-year old clubhouse is approximately 6,000 sf and houses a restaurant and bar that are comprised of 2,500 sf. Second floor deck and slate patio on the ground floor. A 1,200 sf pro shop and men s and ladies locker rooms round out the club house, with 1,000 sf of office space for owner/operators. 2
course overview Maintenance Approximately 10,000 sf Greens, collar, approach, fairway, rough mowers, etc. Tractors, aerators and fleet of other equipment 50 gas-powered golf carts Beverage cart Equipment Roster EQUIPMENT QTY EQUIPMENT QTY Jacobsen Walk Behind Greens Mower 3 Greens Mower Trailers 3 Toro Greens-master 800 Walk Behind Greens Mower Jacobsen GreensKing Triplex Tee Mowers 1 Cart Utility Trailer 1 4 Tractor Utility Trailers 2 Toro Triplex 2300-D Approach Mower 1 Forklift 1 Jacobsen LF 3400 Fairway Mower 1 Portable 200-gallon Tanker 1 Jacobsen LF 100 Fairway Mower 1 Greens Roller 1 John Deere Rough Mower 1 Pumps 2 Smithco Spray Stars 2 Chain Saw 1 Lely Rotary Spreader 1 Edgers (weed wackers) 3 Fairway Slice Seeder 1 Hedge Trimmer 1 Walk Behind Slice Seeder 1 Welders 2 Walk Behind Spiker 1 JD Front-end Loader & Backhoe 1 Sod Cutter 1 JD Tractor 1 Walking Top-dresser 1 Chevy Dump Truck 1 Agrimetal PTO Blower 1 Mazda Pick-up Truck 1 Yamaha Work Carts 3 Back Pack Leaf Blower 2 Ryan GA 30 Aerator 1 Hand Held Leaf Blower 1 Ryan Aerator 1 Push Leaf Blower 1 3
course photos 4
clubhouse photos 5
POCONOS MOUNTAINS About the Poconos Mountains With 2,400 square miles encompassing northeast Pennsylvania s Carbon, Monroe, Pike and Wayne counties, the Pocono Mountains region is home to rolling mountain terrain, breathtakingly beautiful waterfalls, thriving woodlands and 170 miles of winding rivers. Winters offer guests the opportunity to ski, snowboard, snow tube and even snowshoe their way through snowy wonderlands encompassing over 163 ski trails, while summers also cater to the active traveler allowing exploration of 261 miles of hiking and biking trails, over 35 golf courses, whitewater rafting, boating, fishing and open access to nine state and two national parks. Any time of year is a good time to visit the Pocono Mountains, located within driving distance of most major East Coast cities. This region steaming with history offers year-round cultural tours and art exhibitions, abundant antiquing and brand-name shopping and a full calendar of festivals showcasing the heritage, music and food of the Pocono Mountains. Even the most discerning traveler will find comfortable accommodations in the Pocono Mountains, which offers an eclectic mix of resorts, distinctive properties and quaint, country inns and bed and breakfasts. All of this makes the Poconos ideal for a family vacation or reunion, corporate meeting or convention, wedding or couples getaway or a motorcoach trip. Things to Do Visitors seeking an exciting vacation destination need look no farther than the Pocono Mountains. A myriad of nature-filled activities await within a few hours drive of most major Northeast cities, including overnight packages to bring out the hiker, botanist or waterpark lover in travelers of all ages. You can fulfill all of your vacation needs here, from the fast-paced excitement of your favorite outdoor activity, to the exceptional performances of our theaters and concerts. Tour a living history museum in the morning, unwind at a brew pub in the afternoon and dine in an elegant restaurant in the evening. Ski the slopes of a resort by day and relax in a historic bed & breakfast at night. Browse countless antique shops or search for a bargain in our outlet stores. Stretch out on a sandy beach at a lake or marvel at the sights while floating down a river. You can always take in a learning experience such as instructional outings at a recreational cooking school. The choice is yours and you could open new doors to a memorable experience in the Poconos. 6
POCONOS MOUNTAINS Places to Stay With 2,400 square miles encompassing northeast Pennsylvania s Carbon, Monroe, Pike and Wayne counties, the Pocono Mountains region is home to rolling mountain terrain, breathtakingly beautiful waterfalls, thriving woodlands and 170 miles of winding rivers. Winters offer guests the opportunity to ski, snowboard, snow tube and even snowshoe their way through snowy wonderlands encompassing over 163 ski trails, while summers also cater to the active traveler allowing exploration of 261 miles of hiking and biking trails, over 35 golf courses, whitewater rafting, boating, fishing and open access to nine state and two national parks. Any time of year is a good time to visit the Pocono Mountains, located within driving distance of most major East Coast cities. This region steaming with history offers year-round cultural tours and art exhibitions, abundant antiquing and brand-name shopping and a full calendar of festivals showcasing the heritage, music and food of the Pocono Mountains. Even the most discerning traveler will find comfortable accommodations in the Pocono Mountains, which offers an eclectic mix of resorts, distinctive properties and quaint, country inns and bed and breakfasts. All of this makes the Poconos ideal for a family vacation or reunion, corporate meeting or convention, wedding or couples getaway or a motorcoach trip. 7
aerial photographs 8
course map 9
plat of survey 10
Opinion of value Broker Opinion of Value Priced at $2,495,000, Cherry Valley Golf Course is a beautiful development opportunity/ 18-hole golf course located in the hills and valleys of the Poconos Mountains, Pennsylvania, with some of the most beautiful scenic views. The course, as many courses have, has seen the amount of rounds played per year fall below the norm. The current owner of the golf course has owned and managed the golf course for more than ten years. A former developer, the owner had planned to do a 100-unit development on 194 acres around the golf course. The planned community was to be comprised of multi-family and single-family homes. The golf course is in very good shape and has added features. The five-year old club house has a complete restaurant and liquor license. The rest of the club house boasts a pro shop, men s and women s shower facilities and second floor offices. The course has paved cart paths at all holes, an irrigation system, new practice putting green, new greens, and newly installed tees. In my opinion, the golf course needs aggressive owners/investors to advertise to draw old and new business to the club, to offer golf packages, as well as create more leagues. Also, the restaurant is a full-service establishment, but is not being operated by the golf course. The restaurant can offer catering to wedding and corporate functions as well as private parties, golf outings, etc. This would raise quality dollars to make this a profitable golf course. Cherry Valley could also build a resort setting, which would draw people from all over the world. The possibilities with this golf course/development are endless. Financial Information A non-disclosure form is required prior to the release of financial information. Contact Information Eddy A. Dingman National Golf & Marina Properties Group 847-313-4633 847-987-6626 eddy@nationalgolfandmarina.com www.nationalgolfandmarina.com 11