Rio Bravo Golf & Country Club with Real Estate Included

Bakersfield, CA (Kern County)

Seller Financing Available
Rio Bravo Country Club
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Asking Price: $4,900,000

Cash Flow: N/A

Gross Revenue: $2,070,846

EBITDA: N/A

FF&E: $0

Inventory: N/A

Established: 1983

Rio Bravo Golf & Country Club with Real Estate Included

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Business Description

The 18-hole Rio Bravo course at the Rio Bravo Country Club facility in Bakersfield, features 7,000 yards of golf from the longest tees for a par of 72. The course rating is 73.1 and it has a slope rating of 131 on Bermuda grass. Designed by Robert Muir Graves, ASGCA, the Rio Bravo golf course opened in 1975. For a view of the Course go to: https://www.golflink.com/golf-courses/ca/bakersfield/rio-bravo-country-club. 

The Club is a very popular venue for events such as weddings, graduations, or any other event. COVID has slowed that down, but it will start again as soon as it is over. Estimates are things could start up again in Spring 2021. 

The previous owner mismanaged the Club and several of the members ended up owning the Club. They have invested a lot into the grounds and remodeled the Club house, but more needs to be invested. The price includes 328 acres. Approximately 198 acres is either the golf course or course related property. 130 acres is a hillside to the East of the Course it has a beautiful view of the Sierra Nevada Mountains and is excellent development land. There is a Tentative Map for 22 lots along Casa Club that is ready to develop now. This property needs someone that can invest the money to bring this property up to par. 

The price includes businesses being operated there by the owners as follows: 1) Golf Business including the Pro Shop, green fees, cart rentals, lessons and etc. 2)  Restaurant and Bar with an ABC 47 License. 3) Events and Catering

The Clubhouse building according to the County Assessor's Office is 18,010 sq. ft. and there is another maintenance building of 3631 sq. ft. 

The owners are motivated to sell and will consider any reasonable offer. Act now!

Detailed Information

Location:
Bakersfield, CA
Inventory:
Included in asking price
Employees:
30 FTE
Facilities:
World Class 18 hole golf course with clubhouse and shop totaling 21,641 sq. ft., 22 fully entitled lots on approx. 10 acres, 176 acre golf course, 130 acres of undeveloped land. Other development land is available in the area. The Clubhouse has two full kitchens, two bars, banquet room/event center, men's and women's locker room with sauna, fitness center.
Growth & Expansion:
The Industry is expected to grow at 1.6% annually from 2021-2026. Currently industry revenue Nationally is 25.8 billion
Financing:
Seller will consider some financing for a qualified buyer
Support & Training:
Seller will negotiate a transition period
Reason for Selling:
Owner purchased business with the intent to sell
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John Willingham, CBI, CCIM

Business Listed By:
John Willingham, CBI, CCIM, DRE #556588

Sunbelt Business Advisors

Memberships & Certifications:
Indicates membership in The California Association of Business Brokers (CABB). The CABB Certified Business Broker (CBB) certification distinguishes its holder as a seasoned professional who has a solid educational background, proven accomplishments in completing deals, and an active membership in the CABB.

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