Marina Sold: Fair Point Marina and Shady Shores RV Park – Lake Ontario – New York
Overview
Confidential Northeast Marina and RV Resorts - ID#: SM89
This is a premium, turnkey and absentee-owned facility consisting of two adjacent marina and RV resorts. It offers stable income and steady growth with mainly marina slip and RV rental income. The overall net operating income is nearly 50% of gross revenue. The offering consists of two complementary resorts, an RV resort and a marina resort, adjacent to one another and run by one team.
- Water frontage: nearly 2/3 of a mile
- Acres: 24
- Boat slips: 100 existing slips + 40 slips scheduled to be added in 2022 (with additional slip expansion potential)
- RV sites: 143
- NOI: 50% of sales
Highlights
SITE ONE: RV RESORT
- 103 premium spacious RV sites
- 40 boat slip marina (to be reopened in 2022)
- 100% occupancy. Long wait list
- On-site 2/2 residence. Currently used by the absentee owners when they visit the property
SITE TWO: MARINA & RV RESORT - Consists of the marina combined with its own RV resort (this is separate from the adjacent SITE ONE RV resort)
The Marina
- 100 boat slips, indoor and outdoor boat storage, haul out and minimal service conducted
- Established marina with continuous revenue growth under present owners
- 100% occupancy. Wait list for slips and RV sites
- Picturesque, breathtaking location in a charming town with high boater traffic
- Numerous recent infrastructure improvements
RV Sites at the Marina
- 40 RV sites
- 100% occupancy. Long waiting list for RV sites
- All sites on town water with sewer hookups
- All RV site infrastructure less than 8 years old
- RV customers are required to lease a slip at the marina
- Established and highly profitable business
- Premium sites with seasonal site fees
The Opportunity
SITE ONE: RV RESORT
Upside: 40 slip expansion potential (in-place demand), built-in lease rate increase opportunity, introduce boat rentals, in-place new master redevelopment plan for the RV resort and the marina.
SITE TWO: MARINA & RV RESORT
Upside: boat rentals, adding slips, and expanding the service component for a full service marina
Map
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