Consolidated-Tomoka Land Co. is a real estate operating company. The Company owned and managed 50 commercial real estate properties in 16 states in the United States. Its segments include Income Properties, Commercial Loan Investments, Real Estate Operations, Golf Operations, and Agriculture and Other. It also leases land for billboards; has agricultural operations that are managed by a third party, which consists of leasing land for hay and sod production, timber harvesting and hunting leases, and owns and manages subsurface interests. The Company owned 46 single-tenant and five multi-tenant income-producing properties. It also owned and managed a land portfolio of approximately 5,300 acres. Its income property operations consist of income-producing properties and its business is focused on investing in additional income-producing properties. The Company also operates Alpine Valley Music Theatre.