1000 Hl DrHeritage Hills, NY 10589

Property Details for 1000 Hl Dr

Lot size

23.14 AC

Property type

Golf courses & driving ranges

APN

555200 6.18-20-1.22

APU

55520061820122

Description

This exceptional investment opportunity encompasses a thriving 18-hole golf course designed by Geoffrey Cornish, spanning 6,349 yards with a par of 72. The property includes a full-service restaurant and banquet hall, perfectly situated atop West Hill in Somers, NY, and surrounded by over 2,600 condo units within the Heritage Hills community. Its convenient location offers easy access to I-684. The 15,000 square foot clubhouse and course have benefited from over $600,000 in capital improvements within the last four years. These upgrades include a new solar system and clubhouse roof, patio renovation and expansion, parking lot and cart path repairs, and significant greens improvements. The property is meticulously maintained. Included in the sale are two additional parcels, totaling 142 acres, and the property boasts town approvals for a cart barn addition suitable for a cafГ©, spa, golf simulators, or other retail ventures. Previously approved plans, now expired, exist for a swimming pool, cabanas, and tennis/pickleball courts. The total property tax for all three parcels is $52,902. The property utilizes oil heating. This is a rare chance to acquire a well-established and profitable golf course with significant expansion potential in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $98,819,200

  6.5%

  $91,217,700

  7%

  $84,702,100

• Comparable approach

  Method

  Valuation

  Relative Method

  $100,094,000

  Geo Method

  $100,094,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $343,236,000

  Retail / Commercial

  $176,010,000

  Mixed-Use / Specialty

  $175,382,000

  Hospitality / Lodging

  $128,672,000

  Office

  $174,340,000

  Institutional / Educational

  $182,327,000

  Residential Income

  $213,322,000

  Multifamily

  $255,847,000

  Automotive / Energy

  $156,280,000

  Parking / Income-Based Land

  $53,930,400

  Restaurant / Food Service

  $91,217,700

  Healthcare / Senior Housing

  $179,851,000

Location Insight

City

Somers

County

Westchester

State

New York

Latitude

41.3398

Longitude

-73.7007

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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