This Land Property is Off-Market.

592 day lake dr
Midland, GA 31820 ·

535 AC · Land For Sale

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woodland hills

Price N/A Property Use Type Vacant/Owner-User
Lot Size 535 AC Year Built 1998
Property Type Land Features
  • Electricity/Power
  • Irrigation
  • Water
  • Telephone
  • Cable
  • Gas/Propane
Property Sub-type
Residential (land)
More...
  • Multifamily (land)
  • Commercial/ Other (land)
Listing ID: 16758304 Date Created: 07/14/2010 Last Updated: 01/16/2011

Description

This 535 acre property in Columbus Georgia, is a championship golf course and 571 residential lots for sale. The course is a rolling terrain, very wooded with many lakes, 7000 yds par 72. The It is ideal for a reasonably priced homes very close to Fort Benning Ga. The course was built in 1998 and about a third of the course is occupied with single family dwellings. Because of the tremendous growth in the Columbus Georgia market we feel the 571 lots can be sold in the next 5 years. Fort Benning is adding 28000 new personnel in 2010 from Fort Knox Ky. There are also 25000 retired military in the region, Kia motors has added a factory employing 12000, it is also the home Aflac employing 7500 and dozens of other nationally know companies. There are NO OTHER golf courses in the Columbus area that have existing golf course lots for sale. If all the lots are sold within the next 5 years it should generate a NET operating income of around 21 million dollars. Plus you will still own the golf course which could be turned into a country club with all of the new homes in the area. A very similar community close by sold out 900 golf course community lots within 3 years. Over 700% R

The golf course and residential community is located just outside Columbus Georgia in a very beautiful wooded, rolling terrain. Owner will carry paper with 2.7 million cash down, you must have a minimum 2.7 million in liquid cash to qualify. The property is currently lien and debt free and should be appraised in the 12 to 14 million dollar area. The price of $2.7 million is for a full 50% share in the property, you can be a working partner or investment only.. If you would like to own it outright the price is $9.8 million, and the current owner will stay on if required. The owner has developed over 150 golf courses and golf course communities throughout north america. The owner would want 3 million cash down payment.AND HE WILL CARRY A NOTE FOR THE REST. ..The 571 lots are selling from 40k to 70k for 1/3 acre lots. That is over 21 million NET INCOME when completly sold out.

Utilities

  • Electricity/Power
  • Irrigation
  • Water
  • Telephone
  • Cable
  • Gas/Propane

Research

592 day lake dr, Midland, GA 31820 (Muscogee County)

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