INTRODUCTION

THE WOODSHedgesville, WV

36-hole Golf Facility

For Sale

INVESTMENT HIGHLIGHTS

❑ 18-hole Championship Golf Course❑ 18-hole Mid-length Golf Course❑ 17,000 SF Sports Center with indoor pool❑ 9 cottages for overnight lodging❑ 90 Minutes from Washington, DC &

Baltimore, MD

Offered for Sale

Property Tours can be arranged through Golf Property Analysts

Golf Property Analysts is pleased to represent and offer for sale The Woods in Hedgesville, WV. The Woods offers Mountain View, an 18-hole championship course and Stony Lick, an 18-hole mid-length course . The property also boasts a clubhouse, sports center, sales center, six 4-bedroom rental cottages, three 1-bedroom rental cottages, maintenance building, cart storage buildings, tennis, swimming pools, ball field and pavilion .

Property Address 1630 The Woods RoadType of Club Semi-Private# of Holes 36Land Area 340± AcresCourse Architect Ray S. JohnstonYear Built 1989Clubhouse 5,600 SFAverage Annual Rounds 24,000# of Golf Members 552# of Sports (non-golf) Members 296Gross Revenue (2018) $3,600,000

OFFERING SUMMARY

LOCATION

DEMOGRAPHICS

The Woods

DEMOGRAPHIC SUMMARY

15 minutes 30 minutes 90 minutes County WV USA

POPULATION

2000 Total Population 2,943 37,442 886,808 75,907 1,808,358 281,399,034

2010 Total Population 3,543 46,653 1,078,522 104,169 1,852,994 308,745,538

2018 Total Population Projection 3,889 50,660 1,154,619 115,679 1,813,619 326,955,948

2023 Total Population Projection 4,116 54,627 1,202,679 124,878 1,764,785 338,366,389

2000-2010 Population: AGR 2.04% 2.46% 2.16% 3.72% 0.25% 0.97%

2010-2018 Population: AGR 1.40% 1.23% 1.01% 1.58% -0.30% 0.84%

2018-2023 Population: AGR 1.17% 1.57% 0.83% 1.59% -0.54% 0.70%

HOUSEHOLD

2000 Total Households 1,132 15,450 337,612 29,567 736,484 105,471,527

2010 Total Households 1,394 18,752 405,543 39,855 763,831 116,716,292

2018 Total Households Projected 1,575 20,723 439,891 44,889 767,323 125,541,798

2023 Total Households Projected 1,657 22,164 464,274 47,997 773,676 131,066,156

2000-2010 Household: AGR 2.31% 2.14% 2.01% 3.48% 0.37% 1.07%

2010-2018 Household: AGR 1.85% 1.50% 1.21% 1.80% 0.07% 1.08%

2018-2023 Household: AGR 1.04% 1.39% 1.11% 1.38% 0.17% 0.88%

MEDIAN HOME VALUE

2018 Median Home Value zip code 25427 $178,700 $217,500 $97,699 $207,344

MEDIAN AGE

2010 Median Age 43.3 38.6 38.5 37.5 41.3 37.1

2018 Median Age 46.1 40.5 39.7 38.8 42.2 38.2

2023 Median Age 46.8 41.7 40.2 40 42.3 38.9

INCOME

2018 Average Household Income $64,498 $64,031 $91,071 $73,074 $63,026 $87,119

2023 Average Household Income $73,037 $70,941 $104,864 $81,518 $75,489 $102,840

2018 Median Household Income $63,543 $53,304 $70,112 $61,631 $45,648 $60,523

2023 Median Household Income $72,601 $60,438 $80,684 $70,435 $52,055 $69,473

2018 Per Capita Income $26,131 $26,250 $34,959 $28,400 $26,863 $33,690

Data from Applied Geographic Solutions

2018 Golfing Households' Participation DataMarket County WV USA

2018 Total Households 439,891 44,889 767,323 125,541,798Golfing Households 47,839 4,844 74,740 17,715,770Seasonal Golfing Households 1,103 212 3,394 732,403Household Participation Rate 10.80% 10.80% 9.7% 13.70%

2018 Golfer's Participation DataMarket County WV USA

2018 Population 1,154,619 115,679 1,813,619 326,955,948Number of Golfers 77,323 7,001 96,979 23,832,340Percentage of Golfers in Population 6.70% 6.05% 5.35% 7.2%Potential Rounds per Year (residents)

1,380,240 116,392 1,862,563 455,963,000

Rounds per Resident per Year 18 17 19 19Data Supplied by Applied Geographic Solutions

SITE

SITE CHARACTERISTICS

SIZE (AC.): 340± LANDSCAPING: Average

TOPO: Hilly UTILITIES:Gas, Elec, Phone, Cable, Water/Sewer

FRONTAGE: State Roads LEASED: No

ZONING: Non-zoned LIGHTING Parking Lot

RESTRICTIVE

COVENANTS:None Observed EASEMENTS: Water, Sewer

ENVIRONM.: None WETLANDS: Minimal designated

PARKING: 559COMMENTS:

WATER: Public

UTILITIES

Service Public/Private Provider

Drinking Water Public Berkeley Co. Water District

Sewer Public Berkeley Co. Water District

Gas Private Bottled Gas

Electric Public Potomac Edison

Telephone Public Comcast or Frontier

GOLF COURSE

GOLF COURSE IMPROVEMENTSFacility SummaryFacility Type: SPR Year Opened: 1989No. Holes: 36 Architect: Ray S. Johnston

Course Design:Mountain Course Layout: Single Fairway non-

returning Nines

Practice Range:Yes Green

Construction:USGA

Putting Green: Yes Chipping Green Yes

TURFGRASS Greens Tees Fairways Roughs Bunkers

# of: 38 36 36 56

Total Acreage 5.8 acres 3.3 acres 30 acres acres acres

Type of grassing Bent/Poa Annua Ryegrass Ryegrass Ryegrass

Construction USGA Sand MixNative topsoil

Native topsoil

Condition Excellent Good Good Average Average

Practice FacilitiesLength (yards) 250-300 yards Width (yards) 75-100 yardsTee Surface Grass & Mats Chipping Green? YesTee Area 0.9 Acres Annual # of Balls Hit Unknown# of Stations? 11-20 Practice Green? Yes# of Targets 3 - 7 Irrigation YesPractice Bunker? Yes Is there lighting? No

IRRIGATION, WATER, MAINTENANCE

Irrigation

Water Source Pond(s) Water Permits No

Restrictions N/A # of Ponds 10 (9 on course)

Water Storage 11,700,000 gallons Pump Cap./GPM: 600 gpm

Cost of Water (if any) N/AAnnual Water Usage:

4 to 10 million

gallons

Irrigation System

Make Toro Auto/Manual Automatic

Design/Config. Single RowAge/Cond. of System:

1989 Fair

Electric/Hydraulic Electric Age/Cond. Pipes: 1989 Average

Pipe Material PVCAge/Cond. Mechanicals:

1989 Average

# of Pumps: 2Age/Cond. Electronics:

2005 Average

Size (HP) of Pumps: 75 & 25Age/Cond. Of Pumps:

1989 Fair

# Controllers/Heads: 22/500+ Notes:Expanded in ’94 and ’05.

SCORECARD – MOUNTAIN VIEW

SCORECARD – STONY LICK

CLUBHOUSE

Clubhouse

Year Built:

1989 Do you have an alarm

system?

Yes

Sprinkler System: NoOverall condition of

building?

Good Exterior Lighting: Yes

Size of Clubhouse (SF) 5,600 Dining Room Capacity:# of stories 2 Seating capacity in grille: 100

Foundation:Concrete Block Seating cap. in banquet

area:Façade : Wood Siding # of Men’s lockersRoof type: Shingle # of Women’s lockersLayout – Main Level Restaurant & bar areasLayout - Lower Level Pro Shop, Men’s and Women’s locker rooms

Pro ShopIs the pro shop located

within the clubhouse?Yes

Bag storage? If so,

what is the capacity?No

SF size of the pro

shop?900 Club Repair No

Is the pro shop visible

from the golf course?Yes Year Built 1989

MAINTENANCE FACILITY

Maintenance Building & Yard

SF size of building? 5,240Separate/Secure

Chemical StorageNo

Year Built: 1989 Containment Adequacy? InadequateFaçade of building? Wood Siding Supply storage YesType of floor? Concrete # of overhead doors? 4

Type of interior lighting? FluorescentSize of maintenance

yard?Superintendent Office: Yes Yard Fencing: NoShower Facilities Yes Is the yard paved? NoHeated Space (SF): # of fuel tanks 3Capacity of Tanks 500 each Above /Underground? AboveIs there an equipment

wash area/discharge?Yes

Is the maintenance yard

visible from the course?No

Cold Storage Area (SF) None Clipping Dump Site(s) NoDoes it have a mechanics

bay (how many)?Yes Do you have a nursery? No

OTHER BUILDINGS & FACILITIES

Building Schedule

Building#

Size (SF) Age Stories Facade

Clubhouse 1 5,600 1989 2 Wood Siding

Maintenance 2 5,240 1989 1 Wood Siding

Cart Storage 2 3,500 1989/2005 1 Wood Siding

Tennis 5 1970's 1 Aluminum Siding

Pump House 1 320 1989 1 Wood Siding

On-Course Rest 5Approx. 748 SF

each1989, 1994, 2005,

2007, 20141 Wood Siding

Sales building 1 5,300 1970's 2 Wood Siding

Lodging 96 @ 1,600 SF and 3

@ 560 SF

(3) 1980 -Renov. 2004

(2) 1988 – Renov. 2016 & 2017

(2) 2000(2) 2002

1Wood & vinyl siding

Starter 1 100 2005 1 Wood Siding

Athletic/Tennis 1 17,0001983, renovated

20041 Aluminum Siding

Outdoor Pool 2 25 meters each 1970’s / 1994 1

Indoor Pool 1 1,200 Aluminum Siding

Notes:Please note that the golf course was built in 3 phases. The original 18 holes opened in 1989. The course was expanded to 27 holes in 1994 and to 36 holes in 2005.

RECENT PERFORMANCE

Course Activity2018 2017 2016

Total # of Rounds 20,159 24,557 23,702Total # of Cart Rounds 14,672 18,637 17,841% of Member Rounds 7,445 9,679 9,302% of Guest Rounds 12,714 14,878 14,440% of Outing Rounds

Club Activity2018 2017 2016

Total # of Weddings N/A N/A N/AAverage Size Weddings# of Other BanquetsAvg. Size Banquets# of Golf Outings 26 19 18# of Outings Booked for

upcoming

year/comments:

24 golf outings in 2019

FOR ADDITIONAL INFORMATION

Larry Hirsh, CRE, MAI, SGAPresidentGolf Property Analysts925 Fayette StreetConshohocken, PA 19428610-397-1818Larry@golfprop.comwww.golfprop.com