At Atlanta Motor Speedway, they hold street drags on the oval track's pit road. Not only is it not a "Prime drag racing property" as you described, it is, in fact, not a drag racing property or facility at all.

Looks to me like it would be hard to lose at the price of $300,000 for 27 acres + whatever else is there. My house cost more than that with no where near that much property.

quote:

Originally posted by ferndaleflyer:
Looks to me like it would be hard to lose at the price of $300,000 for 27 acres + whatever else is there. My house cost more than that with no where near that much property.

Only if you can argue that the improvements to that land....buildings, asphalt etc....are part of a viable business. If not, there is no value to any of the improvements, and we are looking at $11k/acre farm land.....once the improvements are removed. On one hand, you WANT sellers to ask prices that make it impossible for a farmer to come along, buy it, remove everything, and have money wise farm land.
On the other hand you don't a new track owner to be saddled with debt when they are getting started.

I am a long way from any kind of city and forget farm land. If any land comes up for sale the big city developers are on it like a hen on a June bug. Neighbor was offered 1/2 a million for 60 ac of sorry land and turned it down then the $ general came by and gave him 1/2 of that for 2ac....Farmers don't have a chance in many areas unless they want to sell to the man with the money for another row of condos.