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INVEST IN THE WATERFRONT

Simply Marinas

A Service of Ash Property Group
A. Michelle Ash, MBA, Ph.D.
ash@simplymarinas.com
305-439-9581

Gilberts Resort & Marina, Key Largo, FL

 

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We are thrilled to announce another sale: Simply Marinas just brokered the successful sale of Gilberts Resort & Marina, Key Largo, FL to our Exclusive Buyer! It’s a famous destination spot with 38 slips, 38 hotel rooms, restaurant and tiki bar on 4 fee simple acres. Simply Marinas facilitated the financing of the purchase as well. Listed for $12.9mm/Sold for $11.2mm in 30 days! This is the fourth waterfront sale by Simply Marinas in 2014. We specialize in the disposition of marinas and waterfront hotels and restaurants. We represent a large number of local and international buyers exclusively. Simply Marinas had 16 marina and waterfront transactions recently.

 

Lucerne Valley Marina, Manila, Utah

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Listing in partnership with Equity Brokerage Services

LOCATION:

5570 E. Lucerne Valley Road, Manila, UT 84046

PRICE: $3,400,000

HIGHLIGHTS:

Lucerne Marina is a very successful cashflowing full service marina and is  the largest of all three marinas in the area. It is centrally located on Flaming Gorge. It has 188 slips in addition to 38 of which are overnight on the fuel dock, and a dry storage yard that holds 300 boats/RV’s. The marina has an average 80% occupancy. Slip sizes vary from 26’ in dry storage to 28-30’ on the slips

The marina has strong cashflow as the larger boats moor and service their boats at the marina. It has 30 miles to the South which leads to the dam through the beautiful canyons.  To the North of the marina is 61 miles of high desert terrain and some of the best fishing.  The trophy Lake Trout are right out of its backdoor in the Linwood Bay area and Antelope Bay.

The site sits on 80 acres and is under a 30 year permit with the USFS which will be up for renewal in 2041. The Owners  are planning to negotiating adding some of the water portion to obtain the higher peninsula above the owner’s house. Lucerne
Campground – a USFS campground is located next to the Marina.

The marina rents waterfront cabins which are like a floating condominium.  From mid-June to Labor Day weekend there is a 90-95% occupancy rate on them.  The houseboats in July and August are 100% booked out.  Upgrading the houseboats or purchasing newer boats would add value to the rentals.


Income sources

The marina has the following 3 main revenue sources: mooring (seasonal and overnight), fuel & oil sales, and boat rentals which include houseboat, cabin rentals and small boat rentals such as ski, fishing and patio boats.

The dry storage yard holds 300 boats/RV’s.  Summer storage is $1.75 per foot per month, winter storage is $22-40 per month depending on size.

 There are two gas tanks that are 8000 and 6000 gallons.  They are above ground fuel tanks that are connected and enclosed in a fenced in area.  There is an outside pump on land for corporate use only but could be upgraded to sell fuel on land.

 The marina also winterizes and shrink wraps a large number of boats not only from the marina dry slips but also from other marinas and nearby towns.

 In addition, there are two convenience stores ; one at the dock and a larger one on land.  These two stores sell beer, pop, groceries, tackle, souvenirs, boat parts, oils, accessories, ice cream, and ice, UT & WYO fishing licenses and Federal Use passes.

The marina has a small shop that during the season easily employs 3 mechanics.

There is a 28’ Wells Cargo trailer that was customized to hold the Lucerne Lakeside Grill – this is open from mid-May to Labor Day weekend and features burgers, salads, fish tacos, breakfasts and weekly specials.

The Opportunity

The Master plan includes value added suggestions.  This includes the proposed RV park and the South Side attenuator that will have transient slips as well as seasonal larger slips. Adding more houseboats and cabins on the water would also add immediate revenue.  A ski/fishing combo type boat(s) also are immediate revenue boosters which  will be implemented in the 2015 season.  Constructing a marine repair shop and employing Merc certified mechanics with Mercury line would generate an immediate boost in income.  This marina has the land for development and the direct Salt Lake City access being central on the Flaming Gorge.

Lucerne Marina has a consistent water source and upgraded sewer ponds.  The owners have continually rebuilt the dock mains and slips on a scheduled basis,  are extremely customer service oriented from the store clerks to housekeeping to dockhands to management.

The marina has private docks (4 systems) with single finger slips with a power source and access to water for each boat.  The marina has the quickest access to the Wasatch front which includes SLC and the Provo area. It is five hours from Denver, CO.  The Flaming Gorge Yacht Club is also an active boating club that promotes unity in the area and also helps on events & projects.  The staff are local and  have been there for a long. They know the individual boaters’ needs very well.  The marina has very little turnover on our docks.  There is a a waiting list for boats over 31’. The marina has the nicest rental boats that are allowed to go anywhere on the lake. It is under permit with Ashley National Forest.

All of the above makes this acquisition a competitive and viable investment.

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Sardis Lake Marina, Sardis, MS. Under Contract

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 Simply Marinas and Colliers International Colisting

LOCATION:

30117 Blackjack Road, Sardis, MS 38666

PRICE: 

$995,000

HIGHLIGHTS:

  • 148 slips with permits for an additional 400. An agreement in place with the City and the Army Corps of Engineers allows for additional slips to be added as demand warrants
  • The marina has floating docks with wood decks, fuel dock, electrical service, water service, sanitary pumps, and wenches.
  • 10,000 acres in leasehold with 25 years left and another 25 year option
  • 2 buildings — 3,200 sq ft multi-use building and 575 sq ft maintenance garage
  • The Boardwalk/marginal was built to accommodate addition of future piers with electric transformers and plumbing in place
  • Year built: 2003 Fuel Dock with 10,000 gallon above ground tank
  • Primary marina in the region Owner financing with 20% down at market rates with the right terms and conditions
  • Accomplished and qualified owner can assist with development and management 100% occupancy with a waiting list and ready for expansion

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Taylor Creek Marina

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LOCATION:

1600 N 2nd Street, Fort Pierce, FL

PRICE:

 

HIGHLIGHTS

  • Great cashflow and return!
  • Full service marina and the biggest dry storage facility on Florida’s Treasure Coast located on 6.3 acres
  • 600 dry boat spaces up to 35 ft. and 10 wet slips
  • Full service repairs and maintenance facility with two customer work areas
  • Ship store and fuel sales with an over-ground tank
  • The owner had planned to add a 4,000Sf waterfront bar and grill
  • Four buildings: three-story 51,000sf boat storage building; three-story 30,000sf storage building;
  • 3,500sf retail sales building; and a 6,400sf service building
  • Significant upside due to its location, competitive edge in the dry storage market, and the full arena of marina services it offers
  • The marina slips were condoed to sell them as dockominums at one point; however no sales took place
  • Five minutes from the inlet
  • Draws boaters from Miami to Orlando Markets
  • Used to have major boat sales business before the turn of the economy which is coming back

 

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State Dock Marina and Wolf Creek Marina

State Dock Marina 

Co-listing of Simply Marinas and Commercial Kentucky, Inc.

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LOCATION:

On Lake Cumberland in central Kentucky

PRICE:

$42MM

Owner may consider selling alone for $37,000,000

HIGHLIGHTS:

State Dock is the most dominant marina on Lake Cumberland for houseboat renters because of the excellent amenity package and superior customer service offered. Located next to the Lake Cumberland Resort State Park, the State Dock Marina offers their boating customers the best available houseboats, pontoon boats and ski boats on the lake, as well as an amenity package inside Lake Cumberland State Resort Park that includes disc golf, mini golf, horseback riding and an excellent full-service restaurant inside the beautiful Lure Lodge. Guests at the Lake Cumberland Resort Park, provide a steady flow of transient slip renters, boat rentals, and ship store sales for State Dock Marina.

• (57) houseboats for rental

• (2) Party Barges for rental

• (25) pontoon boats for rental

• (9) fishing boats for rental

• (5) new ski boats for rental

• (491) private rental slips and (84) houseboat slips. Slips are Atlantic Mecco docks which are galvanized metal frames with encapsulated foam flotation, concrete walkways and stainless steel anchored cables. The main walkways are 12’ wide.

• Fully stocked 7,500 SF general store, which is the largest ship store on the lake

• 700 SF restaurant building with an outdoor dining area

• Restaurant equipped with a grill, (2) fryers, pizza oven, walk-in freezer/refrigerator

• Shoreline lease until 2035 on percentage of sales

• Significant capital improvements over the last five years

• Expansive tool room utilized for inventory of parts and supplies, attached to mechanic’s room for storage of tools and rebuilding engines and generators

• Boat part sales counter

• (64) infra-red security camera system

• 1,368 SF commercial laundry facility

• Exercise room for slip customers

• Bathroom facility with tile flooring and six private shower rooms for slip customers

• State Dock owns and operates Elite Boat Sales, a full-service brokerage for houseboats, cruisers and other watercraft

• Water Taxi for luggage and bell hops to assist slip customers

• (2) floating garbage barges and a garbage compactor

• Large steel barge with hydraulic winch and hydraulic boom

• Welding barge (allows mobile repair of rental boats)

• Oil change barge

• Battery barge (for storage and charging of batteries)

• Propane barge (for delivery of propane and storage of cylinders)

• (13) fuel piers with new BP card reader dispensers – all fuel piers were replaced in 2006

• All (13) fuel piers are equipped with pump-out facilities with two pumps

• State Dock’s head dock is the largest on Lake Cumberland and includes 17,000 SF of buildings

• The largest hydro boat lift of any inland lake was built at State Dock in 2011 and is used for repairs to the rental fleet and is rented on a fee basis for private boats

Rental Houseboat

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WOLF CREEK MARINA

 

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LOCATED:

On Lake Cumberland in Central Kentucky

HIGHLIGHTS:

Wolf Creek Marina is well-located on Lake Cumberland in central Kentucky. Wolf Creek is located between the busy marinas of State Dock, Jamestown and Conley Bottom. Wolf Creek provides a laid-back and secure feel for its boating slip rental customers. This very scenic location has one of the most popular dining spots on the lake, FISHTALES, providing boating customers an excellent venue to which they can cruise for some of the best food available on Lake Cumberland. Offering some of the most unique scenic views and deep, beautiful water on the lake, Wolf Creek Marina’s recent renovations have made this a most desirable vacation venue.

Wolf Creek is undergoing a shift of the slip allocation and offers one of the largest growth potentials for slip rental on Lake Cumberland. Wolf Creek Marina’s currently occupancy rate is 70%, which is up from last year. The slips are in the process of being upgraded with 12’ wide main walkways and concrete or composite decking. Slip rental customers can find the quality amenities available that include exclusive bathroom and tiled showers, an exercise room equipped with cardio equipment and weight machines, (2) grades of fuel through easy access fuel docks, a waste pump-out station, shuttle service from parking areas to the dock, and dock attendants to assist all boaters. These full-service amenities create an environment and customer base that have produced long-term dock rentals, as well as rental boats, and a growing client base that has repeatedly returned to Lake Cumberland for summertime and full-year vacations for the last twenty years.

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Desoto Marina and Nav-A-Gator Grill | Cottages | Owner’s Residence | Arcadia, FL

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LOCATION:

9700 SW Riverview Cir | Arcadia, FL 34269

PRICE:

$1,850,000 for the Marina and Restaurant on 3 acres+/-.

Three rental cottages and owner’s home/rental are available (not included in this price).

Owners to lease few slips for boat rental business with a long term lease.

HIGHLIGHTS:

A tremendous opportunity to own this Turn key very successful business established over 20 years ago by retiring owners. It is situated on 3 acres of the beautiful Peace River near Port Charlotte Florida. This going concern Trademarked business includes: 40 slip marina in feesimple with 500 gallon fuel dock with newly renovated docks with electric and water; 90 seat restaurant fully equipped with all facilities/cooking appliances and a full Bar with 7 COP liquor license; 3 Rental Cottages–one about 1100sf, the other two are part of a duplex with about 400sf each, fully furnished and rented by the weekend, weekly, monthly, or seasonal; the resident/owner house is 1500sf +/- with a garage and a boat house as well as storage buildings which could also be used as a waterfront rental unit; gift shop; river boat tour business and canoe/kayak rental; and museum with all memorabilia included. The asset also includes a Tiki hut, outdoor stage for concerts Voted best “Trop Rock” venue in the US, seaplane dock where they land to eat a bite, and a public boat ramp. The site offers private parties, excellent boating and tournament fishing for bass, snook, redfish and tarpon. This is a very strong cash flowing going concern hospitality business. The ship store has marina parts, bait, tackle, ice etc. Take out food is available from the Nav-A-Gator as well. There is much memorabilia in the restaurant as well as the museum and all is included. The popularity of the restaurant over the last 19 years has made it an entertainment landmark.

The property consists of three sections. The first section is a group of 6 residential lots, current use is a parking lot, vacant land, two rental structures (3units) and garage storage structure. The second section is 7 lots where the marina docks exist with 40 slips. The restaurant and other associated structures are on this section. The third is 4 lots on the tip of the island.

There is great upside. Hours of the restaurant at present are 11am to about 8pm. A new owner may opt to increase the hours to include breakfast and/or a later night crowd to boost the already strong income. The owners have been there for 20 years and they are retiring. The Nav-A-Gator is known for Trop-Rock music and has been voted the #1 live music venue in the United States. It has a recognized name brand which is trade-marked on our specialty items such as shirts, coozies and gift items.

The site has direct access to the Peace River, Charlotte Harbor and the Gulf of Mexico. Situated within near a 2,000 acre nature preserve which provide hiking, camping, and equestrian activities.

 

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Buzzard Rock Resort and Marina, KY $6,500,000

In partnership with Commercial Kentucky, Inc.

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 PRICE:

$6.5 MM

HIGHLIGHT:

• The site is located on approximately 160 acres, 1/4 of which is submerged

• 285 wet slips marina at 100% occupancy, with potential to add 400 more slips

• The only “Clean Marina”  designation out of the Nashville USACE jurisdiction

• Transient slips are available with T-30A 125V and T-50A 125/250V service

• Fuel Dock with 4000 gallon gas and 2000 gallon diesel above-ground tanks

• A MerCruiser/Mercury certified service center offering a full service maintenance, repair facility and marine supplies

• Ships Store offering fishing and boating supplies, bait, gifts, clothing, snacks

• A popular 130 seat restaurant  with 1000 feet of courtesy dockage

• 2 full service bars with the best location on the lake with live music during the summer season

• Pontoon and fishing boat rentals

• 4000 sf private  residence on site

• 9 rental lodging units and resort units with a full array of amenities and access to all the marina facilities which include:  complimentary boat slips, laundry facility, swimming pool and hot tub, playground & basketball court, the Cafe and Bar, gift and apparel shop, and boat rentals

 

 

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Holgate Marina

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Colisted with Diane Turton, Realtors

LOCATION:

83 West Tebco Ter, Long Beach Township, NJ 08008

PRICE:

$3,400,000

HIGHLIGHTS:

Long Beach Island Full Service Marina with incredible sunset views. One of a kind property, situated on approximately five acres on the Barnegat Bay. Just 1.5 blocks to the beach (the closest full service marina to the Little Egg Inlet) and a short drive to downtown Beach Haven with all the shops, amusements and restaurants.

  • Income producing Opportunities; Boat slip rentals(148 slips), storage, jet ski and pontoon rentals, bait shop, mechanical facility and apartment rental income. Just approved for 9 new condominiums on a section of the property. The property was recently fully dredged by the U.S. Army Corps of Engineers, with full new channel access and an average MLW of 6 feet inside the Marina and 9 plus feet in the channel. A riparian deed has been granted. This is a full service marina.
  • The mechanics who lease space from the current owners have over twenty years of experience.
  • The jet ski operation leases space, as well.
  • This property is located in the Marine commercial zone, which allows single and multi family dwellings, condos, townhouses and restaurants. Owner financing to qualified buyers.
  • One of a kind property, situated on approximately five acres on the Barnegat Bay.
  • Just 1.5 blocks to the beach (the closest full service marina to the Little Egg Inlet) and a short drive to downtown Beach Haven with all the shops, amusements and restaurants.

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Marina Point Harbor: Marina Sold. Uplands are available

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LOCATION:

The property is located in the eastern portion of the City of Daytona Beach, just west of the Atlantic Ocean. The neighborhood consists of those areas lying south of Ormond Beach, east of Interstate 95, north of New Smyrna Beach, and west of the Atlantic Ocean. The neighborhood has very good access to all areas of Daytona Beach and the nearby communities of Ormond Beach, Holly Hill, Daytona Beach Shores, South Daytona, and Port Orange.

PRICE:

$3,200,000

HIGHLIGHTS:

Simply Marinas is pleased to offer the opportunity to acquire the iconic Marina Point Harbor and Downtown Riverfront Development Site. Located on the western bank of the Intracoastal, overlooking one of the east coast’s safest storm harbors and within downtown Daytona Beach’s Historic “Riverfront Park” redevelopment area, Marina Point Harbor allows a developer to capitalize on the rare opportunity to develop a waterfront location steps away from an area that has been committed approximately $75 million in public capital to re-invigorate the city’s historic riverfront promenade.

Overview

The site which included additional parcels (marina and restaurant ground lease) was purchased in 2006 for residential development. It went through foreclosure procedures for over two years. It is now bank owned. The whole site was purchased for $25,000,0000 in 2006. The current pricing offer a major discounted wholesale price opportunity. The marina and restaurant ground lease were
recently sold. The marina owner may consider a JV on the uplands or all the parcels.

Residential Parcels For Sale

The total size of the residential development parcels is approximately 4.5 acres and is comprised of a waterfront .45 acre for multifamily; and a waterfront 3.11 acres for single family which comes up to a total of 3.56 acres. The residential portions of the subject property can be improved with 32 single family dwellings and an 18-unit multifamily dwelling. It also includes 17,635SF of three
noncontiguous lots. These three non-waterfront lots are across the street from the marina and total 160 x 110. The first lot is 62 x110, the second lot is 48 x 110, and the last lot is 50 x 110. Their tax records are the following: 39-15-33-01-01-0019; 39-15-33-01-01-0020; 39-15-33-01-01-0018.

 

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Anchor Bay Marina, Alabama, 12% Caprate

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Co-listed with Marcus Millichap – The Landmark Center 2100 1st Ave N STE   600  Birmingham, AL 35203
LOCATION:
2001 Castaway Island Road, Eclectic, Alabama
PRICE:
$3,200,000
HIGHLIGHTS:
  • A full service marina with a great competitive edge situated on approximately 6.64 Gross Acres; 3 +/- submerged with a lease from The Alabama Power Company
  • 296 slips: Existing 70 wet slips with 2618 LF +/-, and 248 racks. 20 additional double loaded wet slips are permitted and can be configured into 40 slips.
  • Improvements include 7 buildings totaling 40,290F+/-
  • 12% cap rate before management fee
  • The marina operates close to 93% occupancy
  • The marina offers boat rental with both ski & pontoon boats
  • Dockside restaurant with recent tenant improvements; tenant has been there for approximately 4 years
  • 1,900 SF ship store on the water
  • Full service center with certified technicians
  • Fuel dock with 10,000 gallon gas, and 10,000 gallon diesel. Both tanks were installed in 1999
  • Depth: 40′ near the wet slip; 30′ near the gas stop; 90′ by the end of the point
  • Largest boat at the marina is 47′ (wet) and 27′ (dry)
  • Active Months: March thru October; Slow Months: November thru February
  • Great upside for a new ownership
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