The now shuttered Germantown Country Club has been appraised at $7.25 million.
Germantown officials received the appraisal this week and announced the results Friday.
The club closed at the end of February and is for sale. The city of Germantown, former club members, and private developers have expressed interest in buying the 180-acre property in the heart of the Memphis suburb.
The Board of Mayor and Aldermen ultimately will vote weather or not to bid on the property which is being sold by a Trust which owns the land.
