Confidential Dry Stack Marina
New England
Currently Being Offered For $4,700,000
Executive Summary
*Actual Marina Not Shown for Confidentiality
Confidential MarinaRhode Island
Only Fully Enclosed Dry Stack Marina within 40 miles
Over $365k in Service Equipment and Vehicles
4.5 Leased Acres (Current Lease Can Be Extended For 40-50 Years for Qualified Buyers)
Very Strong In-Place NOI
Immediate Access to Great Boating Waters and Several Nearby Cities
Property Highlights Investment Highlights
12.26% Cap Rate On 2017 NOI
EOY 1 Cash-on-Cash of 17.68%
Opportunity to Build Out 70+ Racks for Larger Boats
Will Have the Only Fuel Available for the Entire Harbor
Opportunity to Increase Revenue by Bringing Rates to Market
*Actual Marina Not Shown
*Actual Marina Not Shown for Confidentiality
*Actual Marina Not Shown for Confidentiality
Exclusively Listed By:
Market OverviewThis confidential dry stack marina is located in a well-protected harbor off one of the largest estuaries in the region.New England is a very popular destination for not just powerboats, but sailboats as well (especially in theNarragansett Bay). The property’s location provides permanent and transient boaters access to several big cities andgreat boating waters, along with easy access to the Atlantic Ocean and Martha’s Vineyard. The waters surrounding themarina are heavily sought after for recreation, cruising, and various fishing, including: bluefish, striped bass, fluke,black sea bass, tautog, scup, and more. Other tourist attractions specific for boating destinations are variouslighthouses, islands, inlets, and coves.
In 2017, the property’s MSA had a population of 1.6 million and a median household income of $57,900. From thesurrounding cities, this property attracts seasonal and annual guests for several reasons – one being the luxury ofcalling ahead for marina staff to prepare the boat so it’s ready when the customer arrives.
VISIT US ONLINE AT:www.LeisurePropertiesGroup.com
LEAD ADVISOR - Steven M. EkovichSenior Vice PresidentNational Managing DirectorLeisure Investment Properties Group201 N. Franklin St., Suite 1100Tampa, FL 33602Tel: [email protected]. FL BK3006962 Jeffrey Spilman
Investment AdvisorLeisure Investment Properties Group201 N. Franklin St, Suite 1100Tampa, FL 33602Tel: [email protected]. FL: SL513362
Brett A. MurphyInvestment AdvisorSenior Marina AnalystLeisure Investment Properties Group201 N. Franklin St., Suite 1100Tampa, FL 33602Tel: [email protected]. FL: SL3371235
Tim Thompson100 High St., Ste. 1025Boston, MA 02110Tel: 617.896.7200 Lic.: SC86628
Market Overview
Broker of Record:
http://www.leisurepropertiesgroup.com/Top Related