Marina for Sale: Florida Rack Storage Marina (Offering ID: SM173)
Overview
This is a rare opportunity to acquire a coastal rack storage marina in a major Florida MSA.
The Marina offers its customers approximately 154+/- fire-sprinkled rack slips and fuel service. The ownership takes a hands-off approach, with the vast majority of income derived from boat storage. There is no internally operated service & repair department and no retail income, aside from ice sales. Storage customers are able to use the eight Open-air, ground level (service/wash) racks for DIY and outside contractor service and repairs.
The marina is a blank slate for new ownership to quickly increase revenue from ancillary profit centers, such as service & repair, retail, boat brokerage and boat rentals, without the need for additional capital improvements.
The marina sits on 3.07+/- acres acres (1.41+/- acres dry and 1.66+/-acres submerged), with both the submerged land and the dry land all owned in fee simple. Owning fee simple submerged land is a unique advantage in Florida, where many marinas operate on Florida State-owned sovereign submerged land leases, which often impose operational limitations on the marina owner. There is ample excess submerged land for possible slip expansion, pending any necessary entitlements.
Highlights
- 3.07+/- gross fee simple acres
- 1.41+/- acres upland
- 1.66+/- acres submerged
- Both submerged and dry land are owned fee simple (no FL State submerged land lease)
- 154+/- rack storage slips at 33’ deep
- Fire suppression system in place, with each slip individually sprinkled
- Some racks can take boats up to 36’
- 16,000+/- SF enclosed rack storage building with office and bathrooms (84+/- rack slips)
- 8,000+/- SF Three-sided, covered rack storage building (70+/- rack slips)
- Configuration is up to 4-racks high
- 8 Open-air, ground level (service/wash) racks
- Used for boat washing and DIY/outside contractor service and repair
- Office area and staff lounge
- Two above ground fuel tanks
- One - 2013 - Wiggins 24,000lb forklift
- 170’+/- Floating Dock for staging haul and launch
- Public sewer, electric and water
- Easy access to area grocery stores, restaurants, shopping and lodging
- Ease of management – primarily storage and fuel income at this time
- Well maintained improvements
The Opportunity
- Expansion
- Additional boat racks can possibly be built over the water, at the bulkhead
- Add floating wet slips
- There is ample excess submerged land for possible wet slip expansion, pending any necessary entitlements. The original dredging permit may allow for a widening of the existing channel.
- Add floating jet ski ports
- Incremental rate increases
- Rates are currently at the low-end of market
- Increase occupancy
- Area marinas are generally at full occupancy with a wait list
- Introduce ancillary profit centers
- Current ownership’s only business lines are boat storage and fuel sales
- Retail
- Packaged beer/wine and sundries
- Marine parts and accessories
- Bait and tackle
- Service and repair
- Add an internally operated service department
- Bring on a third-party service tenant
- Take a percentage of any outside contractor billing
- Add boat brokerage or lease office space to a third-party boat brokerage tenant
- Add a boat rental fleet Introduce boat rental/jet ski fleet or bring on a third-party boat rental/jet ski rental tenant
- Retail
- Current ownership’s only business lines are boat storage and fuel sales
Contact us for a complimentary strategic consultation and preliminary valuation.
