|
back to upcoming auctions
Auction hearing the first week in
April
email
george@auctionaz.com to
receive the Non-Disclosure Agreement and receive the Property
Information Package
Scroll down for photos
Bankruptcy Sale Yavapai Downs,
Prescott Valley, AZ
Premier Horse Racetrack Facility in
Prescott Valley, AZ
Bankruptcy Sale One of a kind
opportunity to acquire a maintained horse racetrack facility in
Prescott Valley, Arizona. Located on 124.55± acres, this recently
closed facility includes a 93,328±sf Grandstand Building built in
2001, a one-mile racetrack, and 862 horse stalls with additional
stalls available. The 2010 season revenues were $8,169,492.
-
Grandstand Building built in 2001
-
862 horse stalls with additional
stalls available
-
Located only 90 miles north of
Phoenix and 50 miles from Sedona
-
On-Site and Off-Track Betting
Available
-
Full Commercial Kitchen and
Restaurant
Address: 10501 East State Route 89A,
Prescott Valley, AZ 86315
With an asking price of $12,715,000,
this is a one of a kind opportunity to acquire a well-maintained
horse racetrack facility in the highly desirable Prescott Valley,
Arizona area. Next to Prescott, one of the fastest growing cities
in the country, this one-mile thoroughbred and quarter horse track
rests at the base of the Mingus Mountains, a beautiful high desert
mountain range with Pines, Aspens, Oaks and a beautiful creek
running through it. Yavapai Downs is strategically located 50 miles
from Sedona and 90 miles from Phoenix. Pari-Mutuel Horse racing
started in the City of Prescott in 1939 with Prescott Downs.
Although a successful operation, and the home of summer horse
racing, Prescott Downs was unable to expand to meet the growing
demand so it closed its doors in September of 2000. The new track,
Yavapai Downs at Prescott Valley, took over where Prescott Downs
left off, but with a much larger facility to operate.
Given its 5,100 ft altitude, Yavapai
Downs is 20 to 30 degrees cooler in the summer than its competing
tracks in Phoenix (Turf Paradise) and Tucson (Rillito Park). While
the average high in Prescott Valley in July is only 89°, it averages
99° in Tucson and 106° in Phoenix.
According to the published 2012
schedules, Turf Paradise is scheduled to run races from October 1,
2011 to May 6, 2012 and Rillito Park is scheduled to run races from
February 11, 2012 to March 25, 2012. If a new operator acts
quickly, they may still be able to have Yavapai Downs open for
racing during its traditional Memorial Day to Labor Day season.
Even though there are other race tracks in Arizona, there is little
overlapping competition because Yavapai Downs is open when the other
locations are too hot for the horses. During the off-season, Yavapai
Downs hosts other events including horse and dog shows, barrel
races, the County Fair and exhibitions. Motorcycle, ATV and other
dirt racing activities can be held on its separate motor cross
track.
In 2001, over 35,000 people were on hand
for the grand opening of Yavapai Downs at Prescott Valley over
Memorial Day weekend. Betting for the inaugural day of racing
reached $580,755.
The Facilities
Located on 124.5+/- acres, this recently
closed facility has all of the improvements needed to run a top
notch operation, including:
Horse Race Track A one mile race track
featuring ideal sand and loam safe surface, Fontana railings
throughout, and a distance of 1,020+/- ft from last turn to finish
line.
Grandstand Building Built in 2001,
this is a 93,328+/- sf, four-story building, designed in
Southwestern style motif patterned after Del Mar race track in San
Diego California. It has bleacher-style seating, administrative
offices, a full commercial kitchen, restaurants and bars, betting
areas, 3 elevators, a photo finish area, and locker rooms. The
grandstand also includes 5,850+/- sf of open balcony area.
The seat capacities are:
2nd floor
3rd floor
-
Dining room table seating (4 seats
per table): Lower deck, 22 tables; platform deck, 22 tables;
upper deck, 21 tables
-
Bar seating: 20 seats
-
Bar-area seating: 14 tables
-
Private room seating: 12 tables for
two on the windows; seating for 60 others throughout the room
4th floor
Holding/Testing Barn This is a
3,840+/- sf, steel-framed barn with three open sides, a restroom,
one office, two test stalls, and a storage/hay area. (A 2009
appraisal quotes the building as being 9,120 sf).
Maintenance Building A 4,800± sf,
steel pole framed building with a 20 x 20 concrete slab. (A 2009
appraisal quotes the building as being 7,200 sf).
Stable Restroom Buildings Two 672± sf
concrete block stable restroom buildings. Each building has a mens
restroom (3 toilets, 3 sinks, and 1 large shower) and a womens
restroom (4 toilets, 2 sinks and 1 large shower).
Horse Stalls 862 stalls, each
measuring 12 x 12, metal construction, several buildings with tack
rooms.
In addition to the horse racing
facilities, the property has a motor cross track with bleacher
seating, gates and fencing, and an announcer box.
The Equipment
While Yavapai Downs has been closed for
over a year, it is mostly a turn-key operation. Much of the
equipment remains at the location. All inventory of equipment can
be made onsite before bidding.
Intangible Property
Transfer of Liquor License 06130043,
issued by the State of Arizona, Department of Liquor Licenses and
Control, Alcoholic Beverage License, for Bar.
Transfer of website, http://www.yavapaidownsatpv.com,
and its content.
Directions: From I-17, take Exit 262
(AZ-69) North towards Prescott, proceed for 21.5 miles and then turn
right onto Fain Road, proceed for 7.2 miles and then turn right onto
AZ-89, proceed for 2.8 miles to the entrance of the property on the
right side.
Summary of Terms: Yavapai Downs is being
offered in its entirety for $12,715,000. Any offer accepted by
the Trustee will be subject to customary US Bankruptcy Court
approval.
In cooperation with National Commercial
Auctioneers
http://www.yavapaidownsatpv.com/
http://www.co.yavapai.az.us/
http://azracing.gov/
|
