Marina was purchased in 06. Seller spent over $3M to upgrade the RE, facilities and equipment. Seller sold 33 racks at an avg of $100K per rack. 104 racks remain for sale. Potential income to owner after all rack sales is apx. $10M. Marina is absentee operated. Income, incl. manager's salary is $300K. Without investing add't income, annual profits could be increased by $100K with more emphasis on boat washing, detailing, promoting sales of beverages, etc. Addition of jet boat/ski rentals is also a must for the area. For a cash buyer/investor, the cash-on-cash return would be 8%, plus the additional $10M for the sales of the exisitng 104 racks.
Large, full service marina with a 4,900 SF retail building. Great frontage on both the water and US 1. Ample parking. Contact listing agent for further details.
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