MONTGOMERY, AL--(Marketwired - May 20, 2014) - The Montgomery Motorsports Park just outside of downtown Montgomery will sell at an absolute auction on June 10 through J. P. King Auction Company. The motorsports park is one parcel of a five-parcel development opportunity, totaling 390 acres. Prime development land with five-minute access to I-65, I-85 and downtown Montgomery, the property sits at the terminus of North Belt Drive off Montgomery's Northern Bypass.
"You hear in real estate all the time that the three selling points are 'location, location, location', and that's what we've got," said Jimmy Easterling, who has owned and operated the Montgomery Motorsports Park for the past 20 years. "It's one of the best locations in the city, and it could be anything -- a water park, campground or other development to be supported by the nearby Montgomery Biscuits or two of Alabama's three casinos."
Parcel 1 contains the Montgomery Motorsports Park. Sitting on 138 acres, it includes a quarter-mile, asphalt drag strip, permanent seating for 3,000 spectators with additional temporary seating, a three-story timing tower with 10 VIP suites, lights for night racing, on-site utilities and 15 acres of pits and parking. The facility has a 4,530-foot track, which is extendable to 5,700 feet. NHRA sanctioned, the drag strip is active with a full schedule and ready for continued racing.
Currently used for sand, gravel and soil sales, Parcel 2 is income producing and is positioned on 163 acres. Parcels 3, 4 and 5 are 18, 22 and 36 acres, respectively. Zoned M-3 for general industry, the parcels could also be used to expand the racing opportunities with an adjoining CSX track, motor cross, or mud racing.
With all the infrastructure in place for roads, gas, power, water and sewer for facilities such as distribution plants, trucking terminals and an airstrip, this development property has a variety of options, and its current owner can't wait to see what happens next.
"My favorite part of owning the track was meeting people and making friends with the same families coming back to enjoy the races every time I was there," said Easterling, who, at 73, is retiring. "I'd like to see somebody take it that's ready to go with it. There's a lot you can do, and a lot of activities that can be planned that will bring additional traction to the property and to the city."
The auction will take place on Tuesday, June 10 at 2 p.m. at the DoubleTree Montgomery Downtown, located at 120 Madison Avenue. The property is located at 2600 North Belt Drive. Property previews will be available from 1 p.m. to 3 p.m. on May 27, May 29, June 3, June 5 and June 9 or by appointment. For additional information, individuals may contact J. P. King at 800.558.5464 or visit the company's website at www.jpking.com.
About J. P. King: J. P. King Auction Company specializes in high-value properties such as luxury homes, condominiums, land and ranches. The company has marketed properties in all 50 states and six countries with upcoming events in Las Vegas, Alabama and Albuquerque.