Inflatable tennis club in a flood plain?

Discussion in 'Commercial/Industrial Appraisals' started by mvpllc, Dec 1, 2011.

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  1. mvpllc

    mvpllc New Member

    0
    Apr 15, 2008
    Professional Status:
    Certified General Appraiser
    State:
    Missouri
    Hi all!
    I have an assignment to appraise a 40-year old inflatable tennis club. The building look like a Quonset hut, but where all the metal ribs would be are inflatable tubes. The property is also located in a flood plain.
    I was thinking the Cost Approach would be the best method...I know I can't compare it to metal warehouses of similar size (20,000 SF). It has full clay courts, locker rooms, etc. It's only open during the winter.
    Any ideas?
     

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  2. Mike Kennedy

    Mike Kennedy Elite Member

    27
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    How are the Inflatables (or other interior, enclosed structures/improvements ) permanently attached to the site?
     
  3. mvpllc

    mvpllc New Member

    0
    Apr 15, 2008
    Professional Status:
    Certified General Appraiser
    State:
    Missouri
    Not sure

    I'm doing the inspection on Monday. I just wanted to get a jump start on thinking this through. I see where you might be going with this, that the actual blow up area is personal property?
    I'm including a better aerial here.
     

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  4. Mike Kennedy

    Mike Kennedy Elite Member

    27
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Yup, may very well be M.A.S.H. 4077 revisited. Suggest you won't know till u get inside - the T-courts too may be portable.
     
  5. Mr Rex

    Mr Rex Elite Member

    29
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    If it wasn't bolted down, it would blow away.:new_smile-l:
     
  6. Mike Kennedy

    Mike Kennedy Elite Member

    27
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Not necessarily permanently affixed. :leeann2:
     
  7. Stone

    Stone Elite Member

    6
    Feb 1, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Wisconsin
    Mike may have a point about the personal property angle. I've seen those inflatable driving ranges sell as personal property - one did here just a few years ago. If you could, let us know what you find out. And, good luck.
     
  8. mvpllc

    mvpllc New Member

    0
    Apr 15, 2008
    Professional Status:
    Certified General Appraiser
    State:
    Missouri
    I will. Thanks for the forethoughts. I'll post some pics Monday.
     
  9. sail143

    sail143 Junior Member

    1
    Oct 6, 2011
    Professional Status:
    Certified General Appraiser
    State:
    Rhode Island
    A 40 year old inflatable building likely has a limited remaining life. Despite the flood plain location does the land have a higher and better use?
     
  10. JSmith43

    JSmith43 Elite Member

    9
    May 5, 2003
    Professional Status:
    Certified General Appraiser
    State:
    California
    It may serve you well to research clay courts as there are many flavors. Some have extensive underground irrigation systems.

    A Google search will get you enough information. Otherwise, interview old tennis players with sore feet.
     
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