Marina Sold: Successful Midwest Marina

Overview

In addition to primary income from wet and dry storage, this full service marina has multiple income sources including boat sales, boat & engine repairs, parts sales, winterizing & shrink-wrapping, bottom cleaning, bottom painting, and retail tenants. Replacement cost to rebuild a facility of this size is around $5mm. The marina is established with a good customer base.

Highlights

Replacement cost to rebuild a facility of this size is around $5mm.
The marina is established with a good customer base.
100 dry storage spaces with in and out launch services (approximately 37,150 sq ft indoor storage space); 230 wet slips with electric and fresh water connection on approximately 41 acres (21 acres land & 20 acres harbor)
Full service marina services including boat brokerage sales, boat & engine repairs, parts sales, winterizing & shrink-wrapping, bottom cleaning, bottom painting
35 & 25 ton travel lifts, hydraulic yard trailer, 37’ work boat, 2-pickup trucks, 3-tractors, IH bucket truck
2-well facilities, 2-water filtering systems, 2-septic facilities
Holding tank pump-out system
Fuel dock, 4,000 gal gasoline tank with 4-dispensers, 2,000 gal diesel tank with 1-dispenser
Computer fuel monitoring system
Approximately 10,300 sq ft main building, three covered boat storage buildings (approximately 10,650 sq ft, 20,000 sq ft, and 6,500 sq ft), approximately 9,600 sq ft restaurant building currently leased to an outside operator. All buildings are well-maintained and in good condition.
Additional third party businesses on the property with an established long-term lease history
Fee based public access launch ramp

The Opportunity

Owners are retiring and have not invested in active marketing and improvements. Adding an active boat dealership would increase slip occupancy and service revenue. A new owner can also benefit from adding a few amenities to realize a higher value and upside such as: a swimming pool and patio near the river west of the restaurant building, a small water park feature for kids, in and out rack storage service for runabouts, an outside patio bar at the waterfront near the restaurant building, additional floating villas for purchase, and RV park, or “glamping” site. The following activities can be added as well: Arranging for a tour bus stop at the marina with Starved Rock Lodge with a layover promotion and providing a river tour boat at the marina with possible food & bar service.

Location

Located approximately 1½ hours from major cities north (Rockford), south (Peoria, Bloomington), east (Chicago & Suburbs), west (Rock Island, Moline, Davenport, Bettendorf) on the most scenic section of the Illinois River, directly across the river from Starved Rock State Park & Lodge (largest state park in Illinois). 2- additional state parks within 2 to 5 miles away, as well as many dining, lodging, historical, and recreational attractions nearby. Some of the additional area activities available are: white water rafting, kayaking, biking & hiking trails horseback riding, and a championship 18-hole golf course within 5 miles. Access to I-80 and I-39, and no industry close by.