Marina Sold: Harbor Bay Marina – Dallas-Ft. Worth Area – Offering ID: SM301

Price: $10,000,000

Overview

The Simply Marinas team brokered the sale of Harbor Bay Marina, Rockwall, TX. Simply Marinas, in cooperation with Broker of record, Blakeley Commercial Real Estate, represented both buyer and seller.

The marina is a popular destination for boaters. It has 359 covered wet slips that are fully occupied with a wait list. It also offers dry storage on an outdoor lot. The marina can have a total of 780 wet slips as per the current concession Agreement.

The facility has a convenient and popular boat launching ramp with over 900′ of breakwater for safe and easy boat launching.

It has a boater convenience store which supplies bait and tackle, launch passes, snacks/drinks, etc. Attached to the store is a popular floating fishing dock/house where customers pay for a pass to fish. Other income sources include a fuel dock.

The facility provides tremendous upside with the wet slip expansion. The marina does some minimal boat maintenance, an income source that can be expanded.

Local Broker of Record:
Lynn Blakeley
Blakeley Commercial Real Estate
4040 Broadway, Suite 240
San Antonio, Texas 78209
210.724.5111
lynn@blakeleycre.com

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

Highlights

359 floating, covered wet slips
Slips are consistently at full occupancy with a wait list
Slips accommodate up to 30′ boats with electric and water accessible at each slip
Dry boat storage on an outdoor lot that accommodates 70+ boats
Fuel Dock
Boat launch ramp
The ship’s store building is 17,000sf+/- and includes bait and tackle, picnic supplies, snacks ice, and cold drinks
Two offices within the ship’s store building
Large swimming pool
Enclosed floating fishing barge

The Opportunity

Massive Slip Expansion Upside
- The current Concession agreement allows for 780 slips. This means an owner can more than double the current 359 slip count.
Add and grow ancillary profit centers
- Boat maintenance
  - Current owner offers minimal boat maintenance service
- Introduce a boat rental fleet