5003-12499 Race Track and RV Park

Undisclosed Address, Iowa
Business Opportunity for Sale
Catylist Listing ID: 30010010
Property Subtypes: Auto Related
Building Size (RSF): See Agent
Sale Price: $875,000
Year Business Established: 1995
Gross Revenue: $387,137 (Annual)
Cash Flow: $0 (Annual)
Cash Flow Type: Sellers Discretionary Earnings
Last Updated: 8/8/2017

Overview / Comments

This is a premier race track located in the mid-west providing racing for professional drivers as well as the amateur racer. Track draws racers from six states on a weekly basis.

Additional Details

Industry Segment: Other Auto Related
Reason for Selling: Owner is Retiring.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $544,932
Real Estate Status: Leased
Value of Real Estate Included ($): $0
Real Estate Lease Description: Business is located on approximately 100 acres and has an RV park as part of the grounds. All buildings and grounds are meticulously maintained. Track surface has been recently ground and polished to provide racers with the best possible racing conditions. Equipment is current and should not need to be updated for at least 5 years.
Employee/Labor Description: 2 FT / 10 PT
Mgmt/Training Support Description: Will train for 2 weeks @ no cost. The buyer will need to be a good manager with operational skills that will transfer to running the race track. Understanding of racing and the race culture will be a plus for the buyer.
Competition/Market Description: This track is considered to be one of the premier tracks in the area. As smaller tracks close the business is seeing double digit increases year over year and has become "the" track of choice for serious racers. Track is seeing a 25% increase in revenues in 2016
Growth/Expansion Opportunities: The track is located in a prime area in the mid-west and continues to have new drivers weekly. The track has an infield parking and setup area that can be leased to the racers on a seasonal basis. Additional services and corporate sponsorship will provide more growth, opportunities and profits.
Seller Financing Description: $800k down/$75k for 3 mos. @ 8%

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 957 2,033
Median Age: 43.44 39.76
Households: 385 809
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