Apr
08

Appraising the Tough Ones: Masters Golf Hospitality Facility

By

With it being Masters week, I thought about an assignment that I did last year. A lender asked me to appraise an entertainment facility that is two blocks from the Augusta National Golf Course. It is a residence that has been converted into a hospitaility facility for use during Masters week. Multiple kitchens, 7,500 s.f. deck, three “country club style” bars, five restrooms, putting greens, massage therapist area, reservation desk, free Wi-fi, TV’s everywhere……kind of like a sports bar. The kicker? It is zoned to where it can only be used for this purpose during Masters week. It can be used a residence the rest of the year.

Obviously a lot of research was required. We ended up being very comfortable with our appraised value, and so was the client. If you have a tough property to be appraised in the Carolinas, the national database of Integra Realty Resources is a valuable resource.

Call Michael Dodds, MAI, CCIM at 803-960-8783, or email at mdodds@irr.com, for your appraisal needs in the Carolinas.

DSC_0774DSC_0780 DSC_0799

 

Categories : Augusta

Comments are closed.