Phoenix, AZ · Member since 2017 · 2 posts · 0 votes
Just looking for a little advice on how to find a buy for a 600 acer piece of land with 8 shooting ranges. Any thoughts on where to find someone with that kind of money?
It's go a mile long range, a 3d range, and various ranges for the types of guns someone may shoot. Plus 4 containers for storage with 2 atvs to get around the land on, and a little house to kick it in.
Rental Property Investor · Denver, CO · Member since 2013 · 4k+ posts · 2k+ votes
9y
@JP Taxman so if you are looking for a straight up buyer at "market" prices then you would probably best to contact other gun range owners in the West and see if they or someone they know would be interested. After that, it's a commercial property and the value is based on the revenue it generates. There are business brokers that sell those kind of situations.
You might also find a neighbor that wants it to eliminate the use. If they have money, they might buy to have control of the area. I would contact each person that owns an adjoining parcel and gauge their interest.
It would be relatively "easier" to find a buyer if there was a steep discount. Someone buying at a discount would want multiple exit strategies. Perhaps development into home sites might bring a higher price. Certainly the bottom price would be the value to return the land to agriculture use.
When I look at buying land at a discount, I think in terms of 10-20% of market value. Land is hard to move and hard to collect much rent from if and when you end up holding it.
I do know that one consideration with gun ranges is lead contamination so that might also drive down the price for any buyer if it has not been properly maintained.