Outdoor uncovered horse riding arena

[VolcanoLvr]

I looked in the M&S Res Cost Handbook, and also the Commercial version, but don't find cost info.

60' x 120' outdoor riding arena with the special 'footing' material about 12" deep used in these that provides firm traction, but also allows for drainage from rain.

Arena is surrounded by typical horse fencing and an access gate.

Owner built this in 2013, for a stated cost of $19,000. Not sure about accuracy of that figure.

Suggestions on a value I can insert into the report as a line item adjustment?

 

[J Grant]

Why would you insert a cost adjustment dollar for dollar how do you know the market would pay exactly what the owner paid for the arena improvement? Imo, the improved arena has high appeal to horse people but might be an over improvement for property if the rest of it does not measure up in quality. An adjustment should be what your judgement is market would pay with knowledge of what it costs, not straight cost unless you are convinced the property would command exactly that on resale.

That price estimate sound like it could be realistic, (I ride), good artificial mix footing is expensive a mix of shredded rubber and other materials to provide drainage is expensive . You can look up "riding arena footing" on the internet and some firms will pop up that do that or prices of such able to be found.

 

[hastalavista]

Here's an estimator for the special footing: http://www.whoadust.com/calculator.html (somewhere around $600; but this is an ongoing maintenance item).
Here's our BOE rural costing book: Look up corrals (although you are in Washington, my bet is the prices probably don't vary that much). http://www.boe.ca.gov/proptaxes/pdf/ah53415.pdf

 

[Mr Rex]

There are sand and gravel base per sf in the Yard Improvements section of M&S.

 

[J Grant]

http://premierequestrian.com/category/Horse-Arena-Footing.html?gclid=CKr3oYbX_cQCFXQV7AodHygALw

Website for the kind of footing likely in the arena for the price she referenced....the price at 19k likely sounds like included not just the materials but labor of removing old bad footing such as sand, putting in a good sub footing, leveling, creating drainage etc.

A competitive rider will appreciate it and pay for it, a casual recreational rider probably would not care or know the difference so depends who the likely equestrian buyer might be for the property.

 

[hastalavista]

I don't know Volcano's (or your) equestrian market.
In my market, what Volcano describes would definitely be part of the "horse set-up" package.

 

[J Grant]

for an upscale horse stable, expensive and good graded footing is expected and as D said part of the package. In a casual barn, people ride on grass field or simple sand arena, ( nothing wrong with riding on grass but sand is another matter); the casual rider is not going to pay 19k extra for footing they could care less about. So it depends on area, the quality of the rest of farm amenities, price point etc

 

[Rlong]

I do allot of horse properties I adjust for the level & quality of the ovrrall horse setup, compared to the subject (barn, barn w nice stalls, loafing sheds, auto waterers, multiple pastures, wire fence, pipe fence, round pen, outdoor arena, indoor arena, in various combination) that is how I think the market reacts. I would give somewhat moderate value for an outdoor areana (but market will pay), in part because it's hard to quantify / observe how well the subsurface has been prdpaired.

Most horse facilities "payback" pennies on the dollar. Only a portion of market wants it "that way", and everyone has there opinions how to do it. I do give more value for the steel pipe (areana and elswhere) as opposed to wood fence, etc. The dirt work only lasts a few years and has to be at least turned and more material added, but I too am always told they spent allot prepairing the soil.

I try to get mostly comps with horsey setups, and then adjustments are in the say 0 - 10,000 range, maybe reaching 20,000 (all for improvementz they spent a "fortune on") its best if you can bracket.

Hope that helps
Bob in CO (typed on a tiny tablet)

 

[Terrel L. Shields]

Bob
I know in Denver it is a "big deal" to have a small acreage tract that allows for a horse(s) compared to the same size tract that doesn't allow it...not an issue in this case I presume, but most horse "stuff" in this area will be discounted severely even when new - functional obsolescence needs addressed and in the case above, I would probably opt for an adjustment within the "site improvements" and not do a line item adjustment.

 

[VolcanoLvr]

Very helpful info folks...especially JG's.

This particular property owner has actually imported a certain breed of horse from Holland - the Dutch Warmblood. (Owner is from Holland.) Told me KLM airlines flies the horsies into Los Angeles (only west coast POE), where the critters are put in quarantine for a certain number of days. I'm in the Seattle area...owner drives his truck and horse trailer down to LA and brings these very large beasts home.

From a distance, these horses look similar to any other breed. But up close they are taller and bulkier. That's when I asked the borrower about them, and he told me the info related above.

Rlong's comment about 'payback' is important. This particular assignment is for a 'hobby' equestrian property for borrower and wife. But they've thrown a huge chunk of change at their hobby to make their property be what they want. This place is no Kentucky blue grass estate, but for local's involved with horse activity, it would be appealing to someone looking for such a facility. I don't consider this to be an over-improvement because our region has quite a number of similar properties in various locations, and horsie people tend to travel long distances to participate in their hobby activities.

The outdoor arena is very high class and one of the best I've seen - in terms of the footing material. Which is why I believe it deserves to be an item on the grid.