Diveland Quarry for sale (interesting...)

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mike_s

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I just saw on DecoStop that Diveland Quarry near Glencoe/Gasden AL was for sale.

do you think they'll get $910k for it?






Here is what they posted...

June 30, 2006

FOR SALE – ALABAMA DIVE QUARRY ON +/- 85ACRES

Diveland Park located approximately 7 miles South of Gadsden, AL and I-59 and 25 miles north of Anniston, AL and I-20 on US Highway 431. Site is located in the rapidly growing N.E. Alabama area, within easy driving distance of metropolitan Atlanta GA, Chattanooga TN, Birmingham, AL and Huntsville, AL.

It offers an 85 +/- acre site with 8 +/- water filled acres ranging in depths from shallow (10 feet or less) to deep (approx 140-150 feet deep). Water visibility is usually quite clear and runoff is minimal into the quarry to make for optimal dive conditions. There have been several site improvements made over the past years, including a dive shop/classroom/office building, changing rooms and steps/docks for entry/exit ease. The site is ideal for additional improvements and offers a truly unique setting and environment.

This is an excellent opportunity for continued/expanded use as a dive site/training center, or for mixed or other use redevelopment, including recreational or residential with plenty of acreage to expand. For qualified principals or brokers having serious interest, please contact us for additional site information, aerial photographs, promotional material, etc.

This opportunity is being offered as real estate and present site improvements only - no dive-related or other business interest is included.

The site remains open and operational for diving. Hours of operation may be found at http://www.headsouth.com/diveland

Offered at $910,000 exclusively by The Resolute Group, Inc.- an Alabama licensed real estate broker.
http://www.resolutegroup.com
 
I like that idea!
thats close to the columbus ga area.
just 90998 divers to go!!!!!
c'mon people!!!!!!!!!
 
so lets talk about this asking price? seems a little "ambitious" to me.

I guess for commercial property that isn't that bad, but I don't know how the property is zoned. When I say it isn't that bad, that puts it ab0ut $10k/ acre. Now out in the middle of "no-where" in Alabama, that's a little high for 85 acres of land. Of course it does have a dive shop on it but I doubt that adds another 800k to it.

Of course the dive business does not come with the shop either.

I went to check to see what the property appraised for with the county tax assesor but they don't have it listed by it's address, so I'd have to know it's parcel number to look it up, so no easily available information.

In comparison, the Madison Quarry was appraised by the city recently as part of the land swap deal. I heard a couple different figures that it was appraised for but that figure also differed on what was included. $79,000 was the lowest I heard, just for the quarry property and not the surrounding acerage that was included as parcels that could be seperated. The higher amount for all the other land wasn't porportionately that much more.

In another comparison, the quarry in Texas called Athens Scuba Park was for sale earlier this year for $1 million. I don't know if they ever sold it or not.

Here is a copy of the advertisement for it
FOR SALE
QUARRY IN TEXAS. Sunken wrecks, dive
shop, campground, shower & restrooms, RV
electrical hookups. 19.6 acres with 8 acre
spring-fed lake. Financing available.
903-675-5762. www.athensscubapark.com



so what makes these quarries worth "millions" ?
 
The possibility of revenue and profit is what makes it worth so much. The land is not only going to appreciate in value over time, but also turn a profit in admission fees and all sorts of other goods stuff. I don't know if it makes it worth that much.
 
DawgDiver:
The possibility of revenue and profit is what makes it worth so much. The land is not only going to appreciate in value over time, but also turn a profit in admission fees and all sorts of other goods stuff. I don't know if it makes it worth that much.


Well, for recreational divers, I'm guessing the only busy day is Saturday with the next businest day on Sunday, and only in the "warm" months.

At $900k, they would have to have 45,000 divers come in to cover the capital investment, not including interest, overhead such as employees, insurance, utilities, etc. Seeing how this is a business that is only profitable on some saturdays and sundays of the year,

It's just an interesting point for discussion is all. All for fun and debate :D
 

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