RockSpringCluB-Hendricks Appraisal.pdf

Hendricks Appraisal Company, uc [ i srenagats SEVEN HUTTON AVENUE, WEST ORANGE, NEW JERSEY 07052 « 973-736-5656-7 * FAX 973-736-2364 JEFFREY R. HENDRICKS, CTA, SCGREA MARK &. HENDAICKS, CRF, FRICS, CTA, SCGREA NEW JERSEY STATE CERTIFIED ANITA M. HENDRICKS, SCGREA GENERAL REAL ESTATE APPRAISEAS ROBERT W HENDRICKS, MAI, CRE, SCGREA (1923-2000) February 16, 2019 Karen Carnevale, R.M.C. Municipal Clerk Township of West Orange Municipal Building 66 Main Street West Orange, New Jersey 07052 Re: Rock Spring Club 90 Rock Spring Road Block 160, Lots 2 & 10 Block 160.01, Lots 30 & 34 Block 46.01, Lot 22 West Orange, New Jersey Dear Ms. Carnevale: In accordance with your authorization, | am pleased to submit the accompanying narrative appraisal report in connection with the above captioned property. The subject of this appraisal involves a private golf and country club known as Rock Spring which was originally founded in 1925. The facility was merged with Montclair Golf Club in 2016 and in December 2018, Rock Spring Club ceased operations. This appraisal assignment is specifically limited to only the Rock Spring Club portion of the Montclair Golf Club. The Rock Spring Club features an eighteen (18) hole championship caliber golf course having a slope rating of 72.5 and total yardage of 6,611. The property also includes an expansive one and two story frame clubhouse containing approximately 22,291 square feet; a one story masonry and frame pool house and snack bar containing approximately 2,916 square feet; a one story frame cart storage building with three (3) overhead doors containing approximately 3,072 square feet; two (2) in-ground pools; four (4) har-tru tennis courts and a tennis house containing approximately 512 square feet, three (3) elevated paddle tennis courts; a one story masonry and frame grounds maintenance facility containing approximately 3,384 square feet; a half-way house containing approximately 256 square feet along with several smaller non-descript support structures. The golf course features its signature first hole which extends over and along the south side of Cable Lake, a large natural water hazard. The golf course is partially bisected by Walker Road which separates two (2) holes (four and five - Block 160.01, Lots 30 & 34) from the balance of the property. The combined area for the entire Rock Spring Club encompasses

ially bisected by Walker Road which separates two (2) holes (four and five - Block 160.01, Lots 30 & 34) from the balance of the property. The combined area for the entire Rock Spring Club encompasses approximately 139.9755 acres. = www handricksappraisalcompany.com »