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5200 SW Rood Bridge Rd

22,014 SF Sports & Entertainment Building Offered at £5,090,667 in Hillsboro, OR 97123

Investment Highlights

  • Turn-key operation
  • Opportunity to grow rounds and raise fees
  • Additional revenue available via weddings, banquets, etc.
  • Positive cash flow
  • Opportunity to recharge food and beverage operations
  • Excellent local demographics

Executive Summary

Meriwether National Golf Club (“Meriwether”) is operated as a public golf course located along the banks of the Tualatin River approximately 30 minutes west of downtown Portland, Oregon. Meriwether was originally developed in the early 1960’s for major tournament play and currently includes an 18-hole regulation course, 9-hole executive course, driving range, pro shop, clubhouse, restaurant, and supporting maintenance facilities. The primary structures were built in the mid-1990’s. The original developer remains the owner/operator who has been in place for more than 60 years.
Meriwether is located adjacent south of the Cities of Hillsboro and Beaverton, which represent three of the five largest cities in Oregon with combined populations exceeding 200,000. Meriwether is also located less than 10 miles from the Nike World Headquarters and Intel Ronler Acres, the primary campuses for two of the four largest employers in Oregon. Limited competing golf courses in the area and a shrinking inventory due to land development pressures creates a favorable competitive environment.
Meriwether has experienced strong revenue growth and profitability over the past several years. Gross revenue for 2023 exceeded $2.16 million and YTD September 2024 gross revenue is up 11% from the same period last year. This revenue is exclusive of banquets, weddings, and such events that have not been restarted since Covid 19. With an appealing 27-hole course layout, grand pro shop/clubhouse building, and proximity to a large and favorable population base, Meriwether is well established and well positioned to transition to the next level of golf course operations and event destination for the coming decades.

Property Facts

Price £5,090,667
Price Per SF £231
Sale Type Investment or Owner User
Property Type Sports & Entertainment
Property Subtype Golf Course/Driving Range
Building Class C
Lot Size 314.78 AC
Building Size 22,014 SF
Number of Floors 1
Year Built 1989

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • R0383445
  • R0381483
  • R0381526
  • R0381465
  • R0381474
  • R0382375
  • R0381535
  • R0382366
  • R0381447
  • R0381492
Land Assessment
£1,256,061
Improvements Assessment
£0
Total Assessment
£4,708,103

zoning

Zoning Code EFU (Exclusive Farm Use (EFU); allows a broad range of agricultural and open space uses. The golf course is a non-conforming, pre-existing use.)
EFU (Exclusive Farm Use (EFU); allows a broad range of agricultural and open space uses. The golf course is a non-conforming, pre-existing use.)
  • Listing ID: 33743475

  • Date on Market: 04/11/2024

  • Last Updated:

  • Address: 5200 SW Rood Bridge Rd, Hillsboro, OR 97123

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