Marina Sold: Flag Harbor Marine Service and Boatyard – Maryland

Overview

This is a unique opportunity to purchase Flag Harbor Marine Service, a long-running, profitable full service boatyard in an idyllic setting on the western shore of the Chesapeake Bay. The facility offers land-side boat storage, haul and launch, as well as rigging, service and repair. The boatyard sits on approximately 9 fee simple acres that include the lift well and an adjacent wet slip, an enclosed workshop and two smaller buildings used as office and storage space. The 9 acres offers excess land that can be used to build a marina-view residence, or expand the land-side storage. The location offers a sheltered harbor within an hour’s drive from Washington DC and Annapolis MD.

In addition to the marine service facility, this offering includes 17 boat slips owned by the boatyard in the neighboring marina dockominium, Flag Harbor Yacht Haven. The boatyard rents out these 17 slips to generate additional income. The marina shares a basin with the boatyard, providing for the perfect synergistic relationship. The marina brings a built-in customer base for Flag Harbor Marine Service, while Flag Harbor Yacht Haven slip owners and renters get to enjoy the convenience of an on-site full service boatyard.

Local Broker of Record:
Rick Leipold
Milestone Commercial Realty
216 E. Pulaski Highway, Suite 215, Elkton, MD 21921
RLeipold@milestonecr.com | 410.620.5115

Marina Marketing and Investment Adviser:
George Ash
Simply Marinas
4000 Ponce De Leon Blvd, Suite 470, Coral Gables, FL 33146
george.ash@simplymarinas.com | 352.262.5784

Highlights

Consistent income producer
In operation since the 1980’s
Current yard storage capacity is approximately 75 boats on blocks
17 slips (part of the neighboring 168 slip Flag Harbor Yacht Haven dockominium)
- Slips are consistently at full occupancy
- Pool and bath-house
- Slips fully redone in 2014 (outer pilings, docks, electric, water)
Trailered boat storage
9 +/- acres fee simple
Full service boatyard. Also offering do-it-yourself repair options.
Haul-out capacity for boats up to 45’
20-Ton travel lift/boat lift - purchased new in 2013 (US Hoist)
Pump-out
Large workshop
No deferred maintenance

The Opportunity

The approximately 9 acres of upland is owned fee simple. County assessed land value is $791,900

Build a marina-view residence on the vacant 1.74+/- acre parcel
Introduce rack storage
Add boat lifts to the 17 slips to increase slip rental rates
Introduce boat brokerage
Start marketing and advertising. The current operator doesn’t conduct any advertising or marketing.

Location

Flag Harbor, an hour drive from Washington DC and Annapolis MD, is located in a sheltered harbor on the Chesapeake Bay. The land being offered for sale is zoned Marine Commercial.

Flag Harbor is the only marina with deep water access on this side of the Bay for twenty miles to the north and 12 miles to the south. In only a few minutes, boaters at the marina can enjoy pristine open water and quick access to some of the best fishing grounds on the Chesapeake Bay. In addition to great fishing grounds, the location offers phenomenal sailing and cruising - 32 miles south of Annapolis, 15 miles north of Solomons Island, 20 miles west of Oxford. This prime boating location, close to many great boating destinations, including Annapolis, Solomons, Oxford and St. Michaels, makes it a very convenient location for haul-out, service and repair. Situated in beautiful Calvert County, MD, the area offers pristine waterways, natural parks, lighthouses, trails, museums, festivals, shops, galleries and more.