Ohio drag strip for sale
- Thread starter pittsburghracer
- Start date
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It’s a shame it will only hold 180 race cars. That would rule out any big events and big events pays the bills.
=Max Wedge=
Well-Known Member
Race there alot.
moparstud440
Well-Known Member
Looks like a pretty decent track from pics. With only 36 acres not sure how much parking could be expanded on to allow more than 180 racers. Pretty tough to make a living as a track owner nowadays unless you hoist some big $ races and the weather cooperates.
PRH
Well-Known Member
I took the “180 race cars” to mean that’s what the staging lanes would hold.
690 minus 20%= 552 Fair sale price.
552 times 20%= 110.4 There's your down payment.
Find a couple friends to take 30% ownership and 30% responsibility, retain 40%, and your share of the down payment is 44K.
(or 51/24.5/24.5)
Sounds much more doable, now doesn't it?
Of course you'd have to figure payments on the balance (relatively easy math) and operating costs (which should be available upon request from the current owners), and then figure how much you'd need to clear each month in order to break even/turn a profit.
552 times 20%= 110.4 There's your down payment.
Find a couple friends to take 30% ownership and 30% responsibility, retain 40%, and your share of the down payment is 44K.
(or 51/24.5/24.5)
Sounds much more doable, now doesn't it?
Of course you'd have to figure payments on the balance (relatively easy math) and operating costs (which should be available upon request from the current owners), and then figure how much you'd need to clear each month in order to break even/turn a profit.
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So simple a caveman can do it. I am friends with the manager at Keystone that rents and runs the track. Trust me he isn’t making money and if he didn’t love the sport he would be gone. Five years ago it cost 1000.00 for traction compound to prep the track. If it rains before one round of eliminations that money plus employee pay is a loss.
So...you "know a guy".
Inside information- priceless.
I knew nothing when I bought my mom and pop self storage/shop complex, but....
I'm running it more efficiently and more profitably than the people who owned it before me for over 30 years.
...and I've transformed it into a "car guy friendly" venue where working on your car is not strictly prohibited as it its at most places of that nature.
On a related note-
A big time chevrolet dealer bought our local 1/8 mile track and promised to revitalize it.
I believe it lasted 5 years and is now closed.
20 years ago it was a 1/4 mile with a paved oval track as well.
It also had a mud bog, and that was what was bringing in the money.
Ironically, I think the plans for the property are redevelopment into.....self storage units.
Inside information- priceless.
I knew nothing when I bought my mom and pop self storage/shop complex, but....
I'm running it more efficiently and more profitably than the people who owned it before me for over 30 years.
...and I've transformed it into a "car guy friendly" venue where working on your car is not strictly prohibited as it its at most places of that nature.
On a related note-
A big time chevrolet dealer bought our local 1/8 mile track and promised to revitalize it.
I believe it lasted 5 years and is now closed.
20 years ago it was a 1/4 mile with a paved oval track as well.
It also had a mud bog, and that was what was bringing in the money.
Ironically, I think the plans for the property are redevelopment into.....self storage units.
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Our's got sold a half dozen years back. The owners are slowly bringing it back to shape. Our mopar club helps at the track and we have done some "community service" type projects to help out. We also have our yearly event there.
Nice, but it’s still a smaller track. If you have neighbors willing to rent spectator parking that would be a plus.
The guy that does the MATS show in Vegas maybe was in the black 4 years out of 20.
Every year I tell him he is nuts. His reply "Yeah, but I don't do it for me,I do it for everyone else."
BVoelzke
Well-Known Member
Support your local drag strip !!! There are far to many of them disappearing we lost a big one when Raceway Park in Englishtown closed a few years ago due to family greed. We almost lost Atco late last year and the ordeal is still going on. My local / home track... Island Dragway has been family owned since it first opened in 1960 and is now being ran by the third generation, it closed back in 2013 temporarily while ownership was being transferred with in the family and it was devastating to us local racers. I have been going there for close to 40 years its only 33 miles and a little over a half hour from my house. Luckily the third generation has a passion for the sport , I speak to them quite frequently its not easy running the track between the weather, insurance etc. luckily they were able to have a few big events and the weather was decent this past season so they did okay. I went to a test and tune on the second to last weekend they were open for the year and the place was packed with over 200 cars which is good for them and its good to see that many people out supporting the track.
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Absolutely right. My buddy has probably 3-4 other businesses to support the track. Without him and the Tedesco Family buying it years ago it would be gone and my closest option to race would be in Ohio.
Howard1784
Well-Known Member
Unfortunately, this property will become an Amazon warehouse or apartments. These tracks usually end up as residential
for 690 grand a person could afford to build a bigger house.
That's pocket change for that amount of property.
690 around here gets you a trailer on an acre. lol We have people paying 2-300 thousand above asking price for a nice home on an 8000 sq ft lot.
It’s the right size to simply sleep there. Unless you live a Spartan life style, then that’s plenty. Heck, as long as I can get a couple of beds, couches and a coffee table in there, I’m good to go! That would suite to just sleep there after an event.
With a good promoter, at that price, I think an owner could service the debt with about $200k down.
It's a 'back gate' game for weekly and bring in a few big noise shows per season to draw a profitable spectator crowd.
Add a 300 ft mud pit, some truck and tractor pulls, a few Monster Trucks, a concert or two, a farmers market, swap meets, snowmobile drags.... etc.
Too bad it's COLD there... looks like a good deal.
It's a 'back gate' game for weekly and bring in a few big noise shows per season to draw a profitable spectator crowd.
Add a 300 ft mud pit, some truck and tractor pulls, a few Monster Trucks, a concert or two, a farmers market, swap meets, snowmobile drags.... etc.
Too bad it's COLD there... looks like a good deal.
2010 Population of LaRue was 747 people. It might be difficult to sustain with such a sparse population in the area. How far would most of you travel to a track to run your car? How far would you go to see nostalgia funny cars?
Getting a top dollar event to come to that track might be difficult. The current owners thought that they could make it profitable and now they are selling it.
Getting a top dollar event to come to that track might be difficult. The current owners thought that they could make it profitable and now they are selling it.
It’s not the population of the town but how far from town or in actual the people who race.
Good morning! Given your long association with Island Dragway, did you know a gentleman named Manny Roldan? I ask because the 72 Dart I race was originally owned by him.
BVoelzke
Well-Known Member
I know or have known most of the Mopar racers at Island in the time I have been going there , but I have never seen or heard of him , would you happen to know where he is from?
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