For Some, Buying Real Estate Is All About the Business
Buying and selling real estate is not always solely about the property. Some people are interested in the business that sits on the land, or transactions involving "owner-occupied" deals.
If the corporate grind no longer appeals to you, there's plenty of options out there. It’s simply a matter of deciding what strikes your fancy.
Here's a sample of offerings available now:
2250 Big Thompson Ave., Estes Park, Colorado – $2.7 million
This amusement park, named Estes Park Ride-a-Kart, is about 65 miles northwest of Denver. The park has been a family-owned and operated since 1959.
It happens to sit near the entrance to the Rocky Mountain National Park. According to the National Park Service, that park posted the highest attendance it has ever had with nearly 4.6 million visitors last year.
The ride-a-kart business is seasonal, operating from mid-May to mid-October each year. But there’s enough open space with the 5.63 acres to add indoor activities to bring in people during the winter months.
What you get: Two 18-hole mini golf courses, a go-kart track, bumper cars, bumper boats, a water wars arcade, batting cages, a miniature railroad and extreme trampoline.
U.S. 290 Highway, Paige, Texas – $2.4 million
If dirt track racing is your thing, the Cotton Bowl Speedway about 44 miles east of Austin may be for you. The 3/8-mile track features races sanctioned by the International Motor Contest Association, which is based in Vinton, Iowa, and has been around since 1915.
It seats 5,500 and has skyboxes as well as a concession area. The business also comes with sponsorship income and sits on 30 acres.
1 Healdsburg Ave., Healdsburg, California – $850,000
For the outdoorsy type fond of wine, River’s Edge Kayak & Canoe is about 70 miles northwest of San Francisco along the Russian River in California wine country. The canoe business has been operating there for 65 years. Sitting on 2.26 acres, it is literally at the river's edge.
Healdsburg, incorporated in 1867, is a big tourist destination and home to numerous wineries. Last year, National Geographic listed the city as one of the best small cities in the U.S.
827 Whalley Ave., New Haven, Connecticut – $499,999
Theater buffs may like the idea of buying a small, revived playhouse that's also a piece of history in an Ivy League city. Lyric Hall was built in 1913 as West Rock Theater. The theater featured vaudeville acts of the day and silent films.
The theater, about 2.5 miles west of Yale University in New Haven's Westville Village area, succumbed to the bigger movie theaters that arrived in downtown New Haven in the 1920s. Over the decades, previous owners had scraped away nearly all of the building’s theatrical history.
But the current owner, John Cavaliere, resurrected the theater over the past dozen years by incorporating salvaged pieces from old theaters and homes into the building. Cavaliere's antique shop is in the space as well.
In addition to featuring plays and film screenings, the theater has hosted for weddings, music acts, meetings, birthday parties and dance recitals. The theater has a tavern license to sell wine and beer.
"I want to find a good soul who will take this wonderful place to the next level, and keep the magic going," Cavaliere told the New Haven Independent last November when he put it up for sale.
But it may take a hearty soul and money to invest. Cavaliere's decision to sell came after Connecticut adopted the national Food and Drug Administration's Food Code, which meant he would have to replace the antique kitchen equipment with a modern commercial kitchen, according to the news site. The building also requires extra maintenance.
