5200 SW Rood Bridge Rd
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5200 SW Rood Bridge Rd
22,014 SF Sports & Entertainment Building Offered at $6,499,000 in Hillsboro, OR 97123
Investment Highlights
- Turn-key operation
- Opportunity to grow rounds and raise fees
- Additional revenue available via weddings, banquets, etc.
- Positive cash flow
- Opportunity to recharge food and beverage operations
- Excellent local demographics
Executive Summary
Meriwether National Golf Club (“Meriwether”) is operated as a public golf course located along the banks of the Tualatin River approximately 30 minutes west of downtown Portland, Oregon. Meriwether was originally developed in the early 1960’s for major tournament play and currently includes an 18-hole regulation course, 9-hole executive course, driving range, pro shop, clubhouse, restaurant, and supporting maintenance facilities. The primary structures were built in the mid-1990’s. The original developer remains the owner/operator who has been in place for more than 60 years.
Meriwether is located adjacent south of the Cities of Hillsboro and Beaverton, which represent three of the five largest cities in Oregon with combined populations exceeding 200,000. Meriwether is also located less than 10 miles from the Nike World Headquarters and Intel Ronler Acres, the primary campuses for two of the four largest employers in Oregon. Limited competing golf courses in the area and a shrinking inventory due to land development pressures creates a favorable competitive environment.
Meriwether has experienced strong revenue growth and profitability over the past several years. Gross revenue for 2023 exceeded $2.16 million and YTD September 2024 gross revenue is up 11% from the same period last year. This revenue is exclusive of banquets, weddings, and such events that have not been restarted since Covid 19. With an appealing 27-hole course layout, grand pro shop/clubhouse building, and proximity to a large and favorable population base, Meriwether is well established and well positioned to transition to the next level of golf course operations and event destination for the coming decades.
Meriwether is located adjacent south of the Cities of Hillsboro and Beaverton, which represent three of the five largest cities in Oregon with combined populations exceeding 200,000. Meriwether is also located less than 10 miles from the Nike World Headquarters and Intel Ronler Acres, the primary campuses for two of the four largest employers in Oregon. Limited competing golf courses in the area and a shrinking inventory due to land development pressures creates a favorable competitive environment.
Meriwether has experienced strong revenue growth and profitability over the past several years. Gross revenue for 2023 exceeded $2.16 million and YTD September 2024 gross revenue is up 11% from the same period last year. This revenue is exclusive of banquets, weddings, and such events that have not been restarted since Covid 19. With an appealing 27-hole course layout, grand pro shop/clubhouse building, and proximity to a large and favorable population base, Meriwether is well established and well positioned to transition to the next level of golf course operations and event destination for the coming decades.
Property Facts
Price | $6,499,000 | Building Class | C |
Price Per SF | $295 | Lot Size | 314.78 AC |
Sale Type | Investment or Owner User | Building Size | 22,014 SF |
Property Type | Sports & Entertainment | No. Stories | 1 |
Property Subtype | Golf Course/Driving Range | Year Built | 1989 |
Price | $6,499,000 |
Price Per SF | $295 |
Sale Type | Investment or Owner User |
Property Type | Sports & Entertainment |
Property Subtype | Golf Course/Driving Range |
Building Class | C |
Lot Size | 314.78 AC |
Building Size | 22,014 SF |
No. Stories | 1 |
Year Built | 1989 |
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PROPERTY TAXES
Parcel Numbers | Improvements Assessment | $0 | |
Land Assessment | $1,603,550 | Total Assessment | $6,010,600 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,603,550
Improvements Assessment
$0
Total Assessment
$6,010,600
zoning
Zoning Code | EFU (Exclusive Farm Use (EFU); allows a broad range of agricultural and open space uses. The golf course is a non-conforming, pre-existing use.) |
EFU (Exclusive Farm Use (EFU); allows a broad range of agricultural and open space uses. The golf course is a non-conforming, pre-existing use.) |
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5200 SW Rood Bridge Rd
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