Looking for Comps located on a NASCAR track

[The Bob]

Around here there would be a premium for such condos.

 

[Don Clark]

If one owns a beach house that is only used a few times a year when one wants to host a party, is it any less residential because of that use? I think the use of comparable sales in Georgia and Texas will make it fairly clear the type of property it is.

Good point.

I own a beach house in Kitty Hawk, NC that we bought 10 years ago as an investment. It has at least tripled in value. I do not rent it out. Someone from my family occupies it about once a month, more in the spring and summer. I consider it owner occupied. It is fully furnished, and has staples in the shelves, and some non perishable items in the refrigerator. I would view a similar situation in that same light.

 

[BRCJR]

Contact Jeff Byrd of Bristol Motor Speedway and/or marketing. The only phone number I have handy is 423-764-1161 (tickets, but they should connect you to the correct person).

Also, the Univ. of Alabama is selling condo units, have no number, but you can call 1-800-GOOG-411 and get the number.

 

[ROBERT JONES]

Thanks for the help.

I am ignorant about the whole NASCAR thing so I apologize for the incorrect rating. As per the seller they are vying for NASCAR races and is confident the facility will be up to snuff. The place is phenominal with an airport tied into the project that can accomodate small commercial airliners. My feelers were for sales of condos on similar projects - as a baramoter. There are over forty depost's taken on these units but no true "under contract" sales with an executed agreements of sale.

 

[Restrain]

Take a look at the TMS lawsuit regarding how it got its races. Also look at the Kentucky Speedway racetrack, not to mention the one built by Rusty Wallace in Iowa (?). It took years for TMS to get a second race, and had to buy a track to get the first race. It seats right at 200,000 and is sold out every year. Yet if IMS wants to put in a track and wants a race, well, IMS is tied at the hip to NASCAR, so, sure, it's going to get a race, at the expense of some other track.

If a track is not built by IMS, you can essentially forget about getting a NASCAR race. This is not "Field of Dreams", and if you build it, NASCAR is not necessarily going to come.

 

[Brian Weaver]

I believe there may be some new residences very near to the track in Joliet, Illinois. I remember watching the network news one night and the residents loved the proximity and sought it out. Sounds like a niche market.

 

[DonRico]

Robert-

I am still waiting to hear where this track will be located. In Jersey somewhere??

Enquiring Minds.........

 

[David Beasley]

Take a look at the TMS lawsuit regarding how it got its races. Also look at the Kentucky Speedway racetrack, not to mention the one built by Rusty Wallace in Iowa (?). It took years for TMS to get a second race, and had to buy a track to get the first race. It seats right at 200,000 and is sold out every year. Yet if IMS wants to put in a track and wants a race, well, IMS is tied at the hip to NASCAR, so, sure, it's going to get a race, at the expense of some other track.

If a track is not built by IMS, you can essentially forget about getting a NASCAR race. This is not "Field of Dreams", and if you build it, NASCAR is not necessarily going to come.

Close enough. But NASCAR's "track division" is actually ISC, not IMS.

And Bruton Smith (billionaire who owns Texas Motor Speedway and the track company SMI (Speedway Motorsports Inc)) actually had to buy a second track to get TMS's second date. They called it a "settlement" to the Perko Lawsuit, but Bruton was forced to buy North Carolina Speedway (aka Rockingham) from ISC for $400+ million to get its 2 dates, one of which he sent to Texas. Funny thing is, the idle Rockingham track recently got auctioned off for $4.4 million ($4 mill + 10% auction fee). What does that say about the "value" of 2 NASCAR Sprint Cup race dates? lol

True enough about non-ISC tracks and their likelihood of being "awarded" a NASCAR race date. Building it does not in any way imply that it will get a race date from NASCAR, IndyCar, ARCA or anyone.

Even the Charlotte track (Lowe's Motor Speedway - LMS) had a scare this Spring when Bruton wanted to build an NHRA-sanctioned drag strip there. The city council initially said no (after construction had started, without permission or even permits as I hear it) so Bruton then said he'd level the entire place and take "Lowe's Motor Speedway" to another region/state. Of course, the (Concord NC) city council soon caved.

 

[joebuck]

When is the last time you went out of state for comps. Come on people he is asking for help not stupid answers to comps. Use comps in area and try to find unit that has sold in same condo development inb NJ you have Atco right next to there find condos in that area. or even use some condos on route 30 thats like a race track. Good luck

 

[BRCJR]

When is the last time you went out of state for comps. Come on people he is asking for help not stupid answers to comps. Use comps in area and try to find unit that has sold in same condo development inb NJ you have Atco right next to there find condos in that area. or even use some condos on route 30 thats like a race track. Good luck

I go out of state for comps very often---live on the state line of VA and TN.