I've been searching for a camp or retreat center place for roughly 10 years. During that time I have found many that cost 3 to 10 million dollars. Most of these seem to stay on the market for a tremendously long time.
There have been three places I actively looked at and considered. One was listed for $3.5 million, and eventually lowered to $1.5 million, one was listed for $1.6 million (foreclosure price, claimed assessment at $2.7 million), and one for less than $800,000. Both the $3.5 million and $1.6 million locations stayed on the market for a long time, neither were operational, and eventually sold for around $800,000. Had either been offered to my organization originally at $800,000, or even a bit more, we probably would have purchased.
The one that was listed for under $800,000, and was operational seemed to have sold fairly quickly. I never had a chance to look at it.
So my question is, are the camps that are seek 2 to 10 million dollars and never sell just way over-priced? Hoping that some rich person or organization just buys them out? Or are they legitimately worth that cost? I'm guessing not since both the 3.5 million and 1.6 million locations I considered eventually sold for around $800,000.
That being said, got a location you'd like to sell or donate to a 501(c)(3) at a decent price? Let me know!
Last edited by Ritty; 12/05/15 12:01 AM.
