UA-80142373-1

Bankruptcy Forces Sale of Mine in Hendry County

Listing Number: 0101-633128

Description

Bankruptcy Forces the Sale of a South Florida Mining Operation. There are 2 contiguous properties amounting to about 1 square mile (640 acres) in Hendry County (Southeast of Fort Myers). The property has been surveyed to hold approximately 6.5 million tons of Department of Transportation "DOT" qualified limestone rock deposits known as Rip Rap aggregate, commonly used by DOT and others for protective embankments alongside roads, bridges, canals, breakwaters in addition to about 8 million tons of sand and fill dirt. In 2014, an independent appraisal assessed the value of a fully operational mine on the property at $28MM. Approximately $985,000 in heavy equipment is included in the asking price. All necessary zoning, land-use and tile restrictions are in place and permits and licenses were in place, but due to personal financial constraints business was halted in March of 2019. The seller would entertain owner financing with 75% down and or a 50/50 partnership with a qualified purchaser. Bank financing may also be an option.

Listing Details

  • Price: $14,999,999
  • Down Payment: $14,999,999
  • Sellers Discretionary Earnings: $0
  • Total Sales: $0
  • Location: Florida

  • Inventory: $0
  • FF&E: $985,000
  • Employees:
  • Year Established: 2009
  • Reason for Selling: Personal Commitments
  • Category: Building Materials
Bankruptcy Forces Sale of Mine in Hendry County

Business Listed By:

Thomas R Milana, P.A. CBI