Contact us for a complimentary strategic consultation and preliminary valuation

Marina Sold: Mariner’s Cove Marina (Confidential Offering ID: SM173)

Price: Unpriced


Mariners Cove Marina, Gulfport/St. Petersburg FL

Simply Marinas represented both parties for a quick seamless closing. The sale was handled confidentially by the Simply Marinas team.

This offering provided a rare opportunity to acquire a rack storage marina in the city of Gulfport, within Pinellas County, Florida, and the fast-growing Tampa – St. Petersburg – Clearwater metropolitan statistical area. Mariner’s Cove Marina is ideally situated on Boca Ciega Bay, approximately 10 minutes from the Gulf of Mexico and the Sunshine Skyway/Tampa Bay.

The Marina offers its customers approximately 154+/- fire-sprinkled rack slips and fuel service. A vast majority of income was derived from boat storage. There was no internally operated service & repair department and no retail income, aside from ice sales.

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.


  • 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



Contact us for a complimentary strategic consultation and preliminary valuation.

Michelle Ash
(305) 439-9581
George Ash
National Director
(352) 262-5784