Marina for Sale: Beaverdam Marina and Adventure Center with Dock Expansion Upside

Price: $2,500,000

Overview

This is a rare opportunity to acquire a successful, long-running, marina on Georgia’s Lake Richard B. Russell shoreline. Beaverdam Marina and Adventure Center is a hidden gem on a beautiful, undeveloped lake within close proximity to major population centers.

The 112 covered boat slips are at full occupancy, with a wait list. A new owner can continue to capitalize on diverse profit centers, including covered boat slip rentals, covered single-bay self-service boat storage, outdoor trailered boat storage, a fuel dock, a restaurant (The Anchor Restaurant), and a private boat ramp. There is plenty of value-add upside for a new owner to realize, including wet slip expansion with the addition of 60 covered slips awaiting USACE approval (with no new shoreline infrastructure required). Additional, easily-tapped, valueadd opportunities include introducing boat rentals, boat service and repair (an existing service garage is being used by an area mechanic for free), short-term vacation rentals in the two existing 3-bed/2bath trailers, and expanding the restaurant’s operating hours (historically seasonal from May- September).

All improvements are in great condition, with no deferred maintenance issues. Ownership has recently undertaken a major CapEx overhaul, including newly refurbished docks, extensive improvements to the grounds (riprap, concrete retaining walls, concrete paved public areas, and more), a massive outdoor adventure space with nearly an acre of artificial turf play-area, and extensive restaurant renovations including a new outdoor bar and seating area.

Beaverdam Marina sits on 472+/- park-like acres of US Army Corps of Engineers (USACE) land with frontage on lake Russell. The facility occupies only 12+/- acres of developed land, leaving 460+/- acres of undeveloped land for future expansion. The facility is operated under leasehold interest via a sublease from the Georgia Department of Natural Resources – GADNR (“Sublease”), which holds a master lease with the USACE (“Prime Lease”). Lake Richard B. Russell maintains a very stable pool, making dock operations relatively easy. Minimal lake pool fluctuation averages are around 5’.

Highlights

132+/- Floating Wet Slips
- Boat slips have electric, water and Wi-Fi
- Docks are newly refurbished and in great condition (all encapsulated foam flotation)
Fuel dock offering ethanol-free gas
Slips are at full occupancy, with a wait-list
Slip expansion upside (60 additional slips)
Beautiful restaurant and ships store building
Over 400 acres of undeveloped wooded waterfront area for future expansion
Singles-story, self service, dry boat storage building with repair shop
Outdoor trailered boat storage yard
Private boat ramp and bathhouse
No deferred maintenance
Located on USACE leasehold land and operated under a Georgia Department of Natural Resources (GADNR) sublease, which holds master lease with the USACE

The Opportunity

There is plenty of value-add upside for a new owner to realize, including wet slip expansion with the addition of 60 covered slips awaiting USACE approval (with no new shoreline infrastructure required). The current covered slip rental pool is at full occupancy with a wait list, giving ownership a clear path to expansion lease stabilization.

The 16 existing single-bay self-storage boat storage units are currently underutilized, as the Seller’s use most of these units for personal storage.

Other, easily tapped, value-add opportunities include introducing a boat rental fleet as well as water toy rentals.

The on-site service garage can be used to generate internally operated service and repair income or can be leased for a fee to an area service and repair operator. The Seller’s currently allow an area mechanic free use of the service garage.

There are two 3-bed/2-bath trailers at the facility, located on a private drive in a wooded area of the leasehold land. The sellers don’t utilize these trailers, which can easily be used to generate short-term vacation rental income.

The recently renovated restaurant was internally operated and only open seasonally, from May to September. A new owner can expand operating hours or generate lease income by leasing the restaurant to an area restaurant operator.

Location

Beaverdam Marina is located on the southern portion of Lake Russell on the Beaverdam Creek channel of the lake. With a few exceptions, including Beaverdam Marina and Adventure Center’s leasehold area, shoreline development is forbidden, making this one of the more pristine reservoirs in Georgia. The lake offers some of the state’s finest boating and fishing.

Within a 2-hour radius from Beaverdam Marina, you’ll find cities in both Georgia and South Carolina, from the college town of Athens to the bustling city of Columbia and even Metro Atlanta.