For less than $3.5 million, you can buy two 18-hole golf courses in Middletown and near Elkton, Md.
Both courses are listed by Leisure and Investment Properties Group, based out of Tampa, FL.
Patriot’s Glen, northwest of Elkton, has an asking price of nearly $1.8 million, with Frog Hollow in Middletown carrying a price tag of $1.55 million. The Patriot’s Glen site has 215 acres, with Frog Hollow roughly the same size.
Both have club houses and restaurants, with the clubhouse at Patriot’s Glen leased to a homeowner association.
The listing indicates that Frog Hollow is in the fastest growing area of Delaware, with the course generating $1.35 million in annual revenue. The Patriot’s Glen area has seen less growth, with property taxes higher in Cecil County than in nearby New Castle County.
The listing showed Frog Hollow paying less than $14,000 a year in property taxes. No comparable figure was in the public listing for Patriot’s Glen.
Many golf courses, built as amenities for adjacent home developments, have struggled over the years with no growth in the number of golfers, a tough economy and some cases less golfing as a networking and marketing tool.
Patriots Glen was closed for a time but reopened in 2014 under new ownership.