FS Interstate Drag Ways
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They have a pretty interesting writeup in the for sale ad:
http://www.wyumrealestate.com/interstate_dragways.html
A potential buyer would definitely need to find out about the future of the land, if a road or other conflict might interfere with things. But if it was run well I can't imagine that it wouldn't be a money making proposition.
DaveH
'94 Supra- 7.77 @ 176mph -
the price is very decent as long as the road construction does not interfere with it.
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Gonna have a hard time getting a bank to finance it though based off the past yearly revenue which im guessing is why there selling it. Basically its gotta be someone buying it who has lots of $$ where the bank isn't going to ask any questions about it being a concern of an investment to them.
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Have a multiple shop buyout of it. SLS and Tintmasters and other private donations/shops chip in and buy it
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StangerBanger96 wrote:
Have a multiple shop buyout of it. SLS and Tintmasters and other private donations/shops chip in and buy itHonestly i dont think i'd even consider buying @ the price to tell you the truth. They have pretty much ruined their reputation and it'd take a whole lot to get it back and try bring in some outside business again.
Plus building a shop is a little bit more of a priority to me then buying a failing dragstrip. I'd be interested if i didn't have a shop to fund and had the time to try turn that place around but right now i just dont have time or the funding to even think about it.
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If it got into the hands of the right people and they wanted to run it to actually make $$ i think it could be a pretty sweet deal. Otherwise if it continued on as it is i see someone losing a whole lot of $$$, which i think is whats going on right now as if i recall they put probably double into it as what their asking for it now.
I wonder how long they'd let you finance something like that for.
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I called the bank just for shits and giggles and i got the answer exactly like i figured it would. Financing for someone w/o a bundle of cash is gonna be an issue. Being there is a business for sale they want the revenue of the past 3 years of the business, which based of what we've seen their probably losing $$ and you'd be able to finance for roughly 15-20 years @ a 7-8% interest rate right now.
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i could potentially make money, but if the city desides to run highway 75 threw it well then all you got is the name and some land, unless the highway would run threw another area on the property it might not be so bad.
anybody have any ideas on how much it would cost to build a strip and get it equipped ect. ?
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97jeep wrote:
i could potentially make money, but if the city desides to run highway 75 threw it well then all you got is the name and some land, unless the highway would run threw another area on the property it might not be so bad.anybody have any ideas on how much it would cost to build a strip and get it equipped ect. ?
Oh i know for a fact it can make $$$. Its just gonna take a lot of time and work to turn the reputation around and run a new schedule. W/ the limited schedule they run now i dont see how it could make $$. But there is no reason why events can be run every weekend fri-sun.
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I actually don't think it would take that much to turn things around at the track. With the internet and multiple car forums around I think a person could hype the track pretty well and get people to come in. It would be a lot of work tho, whoever buys the track would be wise to hire Derek to run the thing, at least for a while while you learn all the ropes to running the place. Oh well, all speculation at this point.
PSI2HI wrote:
Oh i know for a fact it can make $$$. Its just gonna take a lot of time and work to turn the reputation around and run a new schedule. W/ the limited schedule they run now i dont see how it could make $$. But there is no reason why events can be run every weekend fri-sun.DaveH
'94 Supra- 7.77 @ 176mph -
The only problem that I see with that track ever making real $ is the insurance costs. If what we've been told in the past is legit, the per day price of insurance is fairly high. You'd need large car counts each day/night to even break even. Sure, some of the race days pulled in 150+ cars, but there were some around 80, I believe.
If the track weren't in MN, maybe it would be a different story insurance-wise.
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If there was a buyout by a fairly well known group (SLS, Tintmasters, anyone else i dont know) that in itself could put some good publicity on the track as well. When you see someone that has a good reputation buy out a track and then advertise the hell out of it with shameless internet/word of mouth/other way plugs I bet you could draw a damn good crowd too. If it was decent enough too I bet you could pull people from extremely long distances. I dont know where any other tracks are located but the lengths ive heard of some people driving to go to a decent track....if it was successful (which is the big question i know) it could def. bring in money.
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i had done a research paper on street racing last year for english. i found a article on prevention and it mention interstate dragways in moorhead mn. the article was from a paper in san fransisco. so the name is out there allready but i have no clue how in california.
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Doing some rough figures i'd say its a safe bet to say it'd cost probably $250k+ a year to keep the place running between finance payments, insurance payments, utility bills, employees, upkeep, etc. All of that $$ in which is going to have to be made between April-Oct.
Biggest problem here now is its also a safe bet to say the bank is gonna want 10% down on the finacncing. Idk about you guys but i dont know to many people w/ $130k cash in their savings account. So either gotta be somebody w/ a good chunk of cash or a home owner w/ a well appraised home to take out some equity against their home for a second mortage to make a downpayment. All of of this in which is a risk. Based off hearing that Interstate Dragways pro-rated payouts last year because of the lack of attendance says to me last year they didn't make much $$ if any @ all.
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