This premier South Tampa area marina offers investors an opportunity to acquire a portfolio of 140 existing slips in feesimple totaling over 7,700 linear feet. The current offering price of $675 per linear foot represents a price which is significantly less than the average price per foot of previous sales. While the market has retreated from its height, the current offering price is still well less than half of any other slip offerings in the Tampa Bay area. The new owner will be able to complete a second phase of 97 permitted slips (3,890 additional linear feet.)
The marina is located within a gated community of approximately 275 existing residences. There is a mix of single family homes, townhomes and condominium units that range in value from the $300′s to over $3 million. Additionally, the builder is preparing to begin building homes within the community again. There are 256 residences still to be built under the current plan. With these efforts commencing, the marina is sure to benefit from the additional attention.
Marina members are also entitled to privileges at the Yacht Club. There is a fine dining restaurant as well as a casual restaurant, and bar. There is also a full-service day spa and a state-of-the-art fitness center. Since most competing area marinas do not offer similar amenities, the club serves as a selling point and tremendous upside for slip rentals and sales.
The marina is less than ten miles from Tampa International Airport, and within minutes of world class golf and tennis, restaurants, professional sports stadiums and premier shopping.
Portfolio Highlights
• 140 Condominium Boat Slips portfolio in feesimple totaling over 7,700 linear feet
• Zoned and Permitted for an Additional 97 Slips totaling 3,890 additional linear feet
Marina Highlights
• Desirable South Tampa Address within a Gated Community with 24-Hour Surveillance
• Designated “Clean Marina” Completed in Late 2006
• State-of-the-Art Solid Concrete Wave Attenuator Offering Vessels Superior Protection
• Individually Metered Electric, Water, Cable and Data Service for Each Slip
• Sewer Pump-Out Stations
• A Mix of Floating Docks and Stationary Piers
• Less Than 10 Miles to International Airport and Downtown Tampa
• Slips Ranging from 40′ to 150′
• Average Household Income of $90,000 within 5-Mile Radius of Marina
• Adjoining Bay Club Offers a Full Range of Amenities Including Fine and Casual Dining, Two Resort Pools, Tiki Bar, Fitness Center, Full Service Spa and Banquet Facilities
Price: $3,800,000
Possible Bank Financing Available
Room to Add Value
This cash flowing, successful business (11+ cap) sits on 14 acres with 400+ long and short term dry storage spaces, covered and uncovered, for yachts up to 55 ft. There is 500 ft. of existing lay along dockage with an additional 300 foot potential. The facility is situated behind large storm locks in fresh water off Charlotte Harbor. Maximum storm protection is provided by a hurricane tie down system for additional customer confidence. Yard offers customers a “do-it-yourself” option or by professional contractors on site. This family owned business offers double income expansion potential without much effort. (Ask us how). It has a high visibility advantage. The business has experienced consistent growth over 10 years with accelerated growth over the last 2 to 3 years. The marina site is maintained immaculately and resembles a park more than a working boat yard. It’s long term, experienced employees, will stay on running it efficiently, so the facility would require little hands on management. It has an estimated $900,000 worth of equipment and airplane hangars. Great visibility from main street. Affluent area near Boca Grande, Florida.