Marina In Cavanaugh Bay For Sale

Business description

This “For Sale by Owner” marina was established in 1990 and is nestled on the west side of Cavanaugh Bay on beautiful Priest Lake in the panhandle of North Idaho. This marina has recently been refurbished. Built in the early 1900’s as the logging truck repair center for Diamond International and subsequently turned into a marina in the sixties, the old cook shack/residence has been upgraded to The Waterfront Restaurant; the floating log cabins replaced with covered slips; and the truck repair facility transformed to dry boat storage and repair. 40% of total revenues stems from covered and uncovered boat slip rentals. 35% of revenues stems from boat rentals, 10% from lodging. The restaurant, winter storage, boat detailing, and retail store sales account for the remaining 15%. This is a “hands on” business with upside potential. Many repeat customers return for the friendly, casual atmosphere. There are no special licensing requirements to operate this business and the current owner agrees to stay through a reasonable transition period. This owner is very eager to sell! If you would like to learn more about this business opportunity, please visit their website at www.bluediamondmarina.com or contact one of our representatives today!

Property information

Real Estate:

Real Property Included

Lease terms:

Facilities are owned and included; land is leased. All buildings are free and clear and sit on leased land (Idaho Department of Lands) which has 6 years remaining on the current ten year lease. (Renewable)

Location:

The marina is comprised of 40 covered and 20 uncovered slips ranging in size from 20 to 35 feet on two acres of leased water on beautiful Priest Lake, Idaho. The land facilities include an residence/lodge building (2200 sq. ft.), Restaurant/Bathhouse facility (1700 sq. ft.) which is usually leased to a chef/server combination. Both were built in 1996 and look like new. A 4800 square foot boat storage facility also houses a small store and shop. This building has a new cedar siding, double pane windows (2007). Roll up doors, and a new roof (2007). There is a small utility building for the water system. All buildings are free and clear and sit on leased land (Idaho Department of Lands) which has 6 years remaining on the current ten year lease. (Renewable)

Other information

Expansion potential:

Growth can be attained through obtaining a lease extension to the south for additional parking and upland lodge development, as well as an area for new dock systems. Maximum growth is limited to 150 people at any one time in the sewer system. Expansion can be attained through additional profit centers, such as a fishing guide service, boat repair, summarization and winterization, boat sales, bike rentals, additional lodging units, and many more.

Competition / Market:

There is enough business for everyone to succeed at Priest Lake. The marina has been 100% full for the past three years. Lodging is 100% full during July and August. The Restaurant does well and is a necessary amenity to the business.

Support & training:

Owner agrees to a reasonable transition period.

Reasons for selling:

Retirement

Financing available:

None