301 Country Club Drive, Ruidoso, NM 88345

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Tom W.

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Building Details:

• Year Built: 1947

301 Country Club Drive is aspecial purpose property for lease in Ruidoso, NM.

Cree Meadows Golf Course was established in 1947. It is a semi-private Country Club with the 18 hole golf course open to the public. The golf course is 5974 yards. It is centrally located in Ruidoso, New Mexico. The views of Sierra Blanca from the gold course are spectacular. The course is both scenic and challenging with narrow tree lined fairways and fast, gently sloped greens. The course is walkable and is a favorite with the seniors.

The property consists of approximately 86 + acres surrounded by homes and townhomes. Each lot is required to belong to the club with the minimum membership dues. The course has a maintenance building located on hole number 9. The main building is large and has the following:
1. Restaurant (seating for 111)
2. Full Kitchen
3. Banquet Room (seating for 189)
4. Bar/Lounge (seating for 100)
5. Office
6. Indoor Swimming Pool
7. Pro Shop
8. Snack bar
9. Men’s Locker Room
10. Women’s Locker Room
11. Golf Cart Storage
12. Mezzanine office space

The other assets that are included are as follows:
• 177.84 acre feet of water rights
• 8 Extra lots (as platted)

The breakdown of the assets that would convey is as follows:
1. 177.84 acre feet of water rights at the market price of $22,000 per acre feet: $3,912.480
2. Package Liquor License $600,000
3. Recent appraisal of the land only $2,184,000
4. Lots as platted (8) $216,000
5. Main Building and Maintenance Building and all FF & E $500,000
Total Assets: $7,412,480

Offering Price
$4,800,000
All potential buyers will be responsible for their own due diligence.

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