ES - Big Fish
EXECUTIVE SUMMARY
BIG FISH GOLF CLUB Hayward, Wisconsin
$995,000 - 18 Holes of Championship Golf - Pete Dye Designed Course -
BIG FISH GOLF CLUB
Property Information ǵ 18-Hole Daily Fee Golf Club ǵ Course Architect: Pete Dye ǵ Top 10 Public Course in Wisconsin (Golf Magazine & Golfweek) ǵ 10 Ready-to-Build Residential Home Lots Also Available (NOT INCLUDED) ǵ Located within a Destination Area for Golf, Hunting, Fishing, Casinos, etc.
Investment Highlights ǵ Significant Upside through Introducing Offeason Programming ǵ Positive Cash Flow DAY ONE -Three-Year Avg. (2012-14) NOI/EBITDA of $46,216 ǵ Aggressive Seller-Financing Terms Available for Well Qualified Investors
FINANCIAL SUMMARY
EXECUTIVE SUMMARY | Big Fish Golf Club INVESTMENT METRICS Gross Revenue Multiplier - 3-Yr Avg EBITDA Multiplier - 3-Yr Avg CAP Rate - 3-Yr Avg
PRICE 1.82 21.53 4.64%
$995,000
Gross Revenue Multiplier - Pro Forma
1.20
EBITDA Multiplier - Pro Forma
6.23
CAP Rate - Pro Forma
ANNUALIZED OPERATING DATA:
16.04%
3-Yr Avg
Public/Guest Rounds Played: Member Rounds Played: TOTAL ROUNDS PLAYED
PRO FORMA
10,229 1,951
12,729 2,451
12,180
15,180 Pro Forma $/Round
Current $/Round
REVENUE Golf Revenue:
$
388,007
$31.86
$
543,870
$35.83
Merchandise Revenue:
$
33,497
$2.75
$
64,518
$4.25
Food & Beverage Revenue:
$
110,455
$7.89
$
206,468
$9.39
Other Revenue:
$
14,716
$
15,158
$
546,676
$
830,013
GROSS REVENUE
$44.88
$54.68
COST OF SALES Merchandise COS:
$
21,905
65%
$
38,712
60%
Food & Beverage COS:
$
58,394
61%
$
55,115
35%
Other COS:
$
TOTAL COST OF SALES
$
80,299
$
93,827
$
466,377
$
736,187
GROSS PROFIT
-
$
-
OPERATING EXPENSES Course Maintenance
$
69,799
$
222,565
Golf & Amenities
$
52,983
$
93,696
Food & Beverage
$
32
$
45,500
General Operations
$
297,348
$
214,805
Professional Management
$
TOTAL OPERATING EXPENSES
$
420,161
$
46,216
NOI/EBITDA
-
$
8%
-
$
576,566
$
159,621
19%
* Down payment, Loan amount, LTV, Interest rate, Amortization and Term are all estimates based on the current loan market.
The information contained herein are projections only, which are based upon the occurrence of several variables, none of which have occurred or are guaranteed to occur. This information is only an opinion based on unverified and sometimes speculative numbers, and should not be construed as a guarantee or assurance. Buyer bears all responsibility for verifying the values and numbers set forth herein.
MARKET OVERVIEW
Northern Wisconsin Big Fish Golf Club is located in Northern Wisconsin, an area known for visitors seeking hunting, fishing, casinos, golf and other recreational activities. The LCO Casino Lodge & Convention is located adjacent to the property, while there are a number of recreational lakes also located nearby. Winter activities include snowmobiling, cross-country and downhill skiing, snowshoeing, mushing and hiking, ice fishing, ice skating and sleighrid ing, to name a few. Big Fish is positioned as the premier public golf facility in the area, boasting a big-name architect and excellent course conditions. The weather of the area limits the golf season each year - while this may hinder revenue, it also decreases expenses accordingly, allowing The Club to remain profitable. Because the course and clubhouse currently close each offseason, there is a significant opportunity for new own ership to institute a limited level of offseason programming in order to grow revenue. One option is to institute a Thursday through Sunday schedule for the restaurant and install virtual golf units within the clubhouse to attract guests.
Exclusively Listed By:
VISIT US ONLINE AT: www.LeisurePropertiesGroup.com
RAYMOND DEMBY - LEAD AGENT Investment Advisor Head of Research & Analysis Leisure Investment Properties Group 4030 West Boy Scout Blvd., Ste. 850 Tampa, FL 33607 Tel. (813) 387-4725 [email protected] Lic. FL: SL 3260454
STEVEN M EKOVICH
National Managing Director First Vice President of Investments Leisure Investment Properties Group 4030 West Boy Scout Blvd., Ste. 850 Tampa, FL 33607 Tel. (813) 387-4791 [email protected] Lic. FL: BK 3006962
MATTHEW FITZGERALD Broker of Record Marcus & Millichap REIBC of Milwaukee 13845 Bishop’s Drive, Ste. 150 Brookfield, WI 53005 Lic. WI: 51982-90
BIG FISH GOLF CLUB Hayward, Wisconsin
$995,000 - 18 Holes of Championship Golf - Pete Dye Designed Course -
BIG FISH GOLF CLUB
Property Information ǵ 18-Hole Daily Fee Golf Club ǵ Course Architect: Pete Dye ǵ Top 10 Public Course in Wisconsin (Golf Magazine & Golfweek) ǵ 10 Ready-to-Build Residential Home Lots Also Available (NOT INCLUDED) ǵ Located within a Destination Area for Golf, Hunting, Fishing, Casinos, etc.
Investment Highlights ǵ Significant Upside through Introducing Offeason Programming ǵ Positive Cash Flow DAY ONE -Three-Year Avg. (2012-14) NOI/EBITDA of $46,216 ǵ Aggressive Seller-Financing Terms Available for Well Qualified Investors
FINANCIAL SUMMARY
EXECUTIVE SUMMARY | Big Fish Golf Club INVESTMENT METRICS Gross Revenue Multiplier - 3-Yr Avg EBITDA Multiplier - 3-Yr Avg CAP Rate - 3-Yr Avg
PRICE 1.82 21.53 4.64%
$995,000
Gross Revenue Multiplier - Pro Forma
1.20
EBITDA Multiplier - Pro Forma
6.23
CAP Rate - Pro Forma
ANNUALIZED OPERATING DATA:
16.04%
3-Yr Avg
Public/Guest Rounds Played: Member Rounds Played: TOTAL ROUNDS PLAYED
PRO FORMA
10,229 1,951
12,729 2,451
12,180
15,180 Pro Forma $/Round
Current $/Round
REVENUE Golf Revenue:
$
388,007
$31.86
$
543,870
$35.83
Merchandise Revenue:
$
33,497
$2.75
$
64,518
$4.25
Food & Beverage Revenue:
$
110,455
$7.89
$
206,468
$9.39
Other Revenue:
$
14,716
$
15,158
$
546,676
$
830,013
GROSS REVENUE
$44.88
$54.68
COST OF SALES Merchandise COS:
$
21,905
65%
$
38,712
60%
Food & Beverage COS:
$
58,394
61%
$
55,115
35%
Other COS:
$
TOTAL COST OF SALES
$
80,299
$
93,827
$
466,377
$
736,187
GROSS PROFIT
-
$
-
OPERATING EXPENSES Course Maintenance
$
69,799
$
222,565
Golf & Amenities
$
52,983
$
93,696
Food & Beverage
$
32
$
45,500
General Operations
$
297,348
$
214,805
Professional Management
$
TOTAL OPERATING EXPENSES
$
420,161
$
46,216
NOI/EBITDA
-
$
8%
-
$
576,566
$
159,621
19%
* Down payment, Loan amount, LTV, Interest rate, Amortization and Term are all estimates based on the current loan market.
The information contained herein are projections only, which are based upon the occurrence of several variables, none of which have occurred or are guaranteed to occur. This information is only an opinion based on unverified and sometimes speculative numbers, and should not be construed as a guarantee or assurance. Buyer bears all responsibility for verifying the values and numbers set forth herein.
MARKET OVERVIEW
Northern Wisconsin Big Fish Golf Club is located in Northern Wisconsin, an area known for visitors seeking hunting, fishing, casinos, golf and other recreational activities. The LCO Casino Lodge & Convention is located adjacent to the property, while there are a number of recreational lakes also located nearby. Winter activities include snowmobiling, cross-country and downhill skiing, snowshoeing, mushing and hiking, ice fishing, ice skating and sleighrid ing, to name a few. Big Fish is positioned as the premier public golf facility in the area, boasting a big-name architect and excellent course conditions. The weather of the area limits the golf season each year - while this may hinder revenue, it also decreases expenses accordingly, allowing The Club to remain profitable. Because the course and clubhouse currently close each offseason, there is a significant opportunity for new own ership to institute a limited level of offseason programming in order to grow revenue. One option is to institute a Thursday through Sunday schedule for the restaurant and install virtual golf units within the clubhouse to attract guests.
Exclusively Listed By:
VISIT US ONLINE AT: www.LeisurePropertiesGroup.com
RAYMOND DEMBY - LEAD AGENT Investment Advisor Head of Research & Analysis Leisure Investment Properties Group 4030 West Boy Scout Blvd., Ste. 850 Tampa, FL 33607 Tel. (813) 387-4725 [email protected] Lic. FL: SL 3260454
STEVEN M EKOVICH
National Managing Director First Vice President of Investments Leisure Investment Properties Group 4030 West Boy Scout Blvd., Ste. 850 Tampa, FL 33607 Tel. (813) 387-4791 [email protected] Lic. FL: BK 3006962
MATTHEW FITZGERALD Broker of Record Marcus & Millichap REIBC of Milwaukee 13845 Bishop’s Drive, Ste. 150 Brookfield, WI 53005 Lic. WI: 51982-90
