Ever wanted to own your a horse farm subdivision in North Carolina with 139 acres and multiple riding stables? NASCAR driver Joe Nemechek wants you to take his Mooresville property off his hands. This guy has been bleeding cash since purchasing this insane development just before the stock market crashed. The original idea was to sell off plots of land to horse enthusiasts. Only one house was ever built. You get it, too.
Nemechek put the property on the market for $11M in 2009. That number has dropped over the years to $8.4M. With nobody stepping up with the cash, auction was a last ditch effort.
“It’s definitely time to move on to the next chapter of my life – the next project,” he said, adding that this was his largest – and last – real estate project, according to the Charlotte Observer.
Translation: the auction will be a bloodbath. The guy is 48 and has four career NASCAR wins. Not exactly a guy swimming in cash.
Highlights of Joe Nemechek’s Horse Pad:
• 5 bed, 6.2 baths
• 8,900 sq. ft.
• Lots of limestone, open concept, blah, blah, blah
• Horse arena!
Asking: Auction with NO RESERVE!
Mortgage: If you need to know, you shouldn’t be bidding. Figure on spending at least $25,000 a month on maintaining the horse facility.