Commercial Auction - Deltaville VA - Marina - 5.29 AC - Deepwater Access - Income Producing
Timed auction by Dudley Resources
Starts Feb 29, 2024 2:00 PM EST. Ends Apr 25, 2024 2:00 PM EDT
Outstanding Marina Investment Opportunity in Deltaville, Boating Capital of the Chesapeake Bay! ***The Marina is still in operation. No unaccompanied visitors are allowed on site. The sale only includes the Real Property, business assets for J&M Coastal Marina do not convey*** Located in the heart of the Chesapeake Bay's boating capital, this 5.29 +/- acre waterfront property includes 35 +/- covered boat slips, 21 +/- uncovered slips, plus additional dry storage and mooring capacity. This Marina enjoys a prime deep-water setting on Broad Creek just inside Stingray Point, providing easy access to the Rappahannock and Piankatank Rivers as well as the greater Bay. This established full-service marina has served the area's avid sailing and boating community for decades. The business offers multiple income stream potentials through seasonal slip rentals, storage fees, boat launch charges, and repair services. Additional slips expanded dry storage and service bays provide excellent potential for continued growth and maximum income. Property assets include ample parking, boat trailer storage space, a large boat ramp with deep water access at all tides, a marine railway, 3,645 SF repair shop with office, 2,634 SF 3bed/2bath brick residence, 1,062 SF ranch home, workshop and planned infrastructure to add 12 camp sites or additional amenities. The property is zoned Waterfront Commercial and affords all rights and privileges within the Middlesex Co (WC) zoning ordinance. The Middlesex Water Authority has confirmed 2 available municipal water hook up connections can be added to service the property. Located just 25 minutes from metro areas, this boater's paradise provides quick transit to coastal islands, beaches, fishing spots and offshore passage. An easy commute coupled with strong market demand from both local and transient boaters brings year-round business. Conveniently located just 46 miles from Newport News, 70 miles from Richmond, 84 miles from Virginia Beach. This thriving marina in a prominent Mid-Atlantic boating destination represents a unique offering for an owner-operator or absentee investor. Make it yours - register to Bid today! Marina Income Projection The Marina offers 56 total boat slips per Middlesex county tax records and a prime waterfront location with significant income potential. Based on the existing infrastructure and market rates taken from multiple marinas on Broad creek in close proximity to this marina, here is a conservative annual income projection: **Camp site rates, along with the slip and boat storage rates have been derived from averages using information provided from various neighborhood campgrounds, marinas located on Broad Creek in Deltaville VA. and Air B&B rates for residential cottages in the area. Rates were sourced from the Marina’s websites and local marina sales associates. All information is deemed to be reliable but not guaranteed. Interested parties are required to perform their own due diligence with regard to potential income projections and any costs associated with the subject marina. Covered Slips: - 35 covered boat slips - Potential monthly income per slip = $229.75 - $324.00 - Annual gross income potential = $96,495 - $136,080 Open Slips: - 21 open slips - Potential monthly income per slip = $218.00 - $241.66 per month - Annual gross income potential = $54,936 - $60,898.32 This baseline income projection can be achieved through leasing the existing slips at reasonable marina rates for this region. With the current waterfront property, zoning allowances, and infrastructure, there is extensive room for further development and revenue growth through expanded slips, boat storage, fuel dock installations, waterside dining, forming boat retailer partnerships, and more. Additional Income Potential: -12 Campsites at $2,800 per month -Annual gross income potential = $33,600 -Boat launch fees = $10 per launch, estimated 1,000 launched per year = $10,000 -Boat storage facility – Capacity for 40 boats at with an average of $112 per month storage rate = $53,760 -2 Residential Rental Homes - $132.50 per night in season rates May-September = $39,750 Total Estimated Gross Annual Income Potential: $288,541 - $334,088.32 Creative business planning and targeted investments could unlock significantly higher earning potential on top of these base figures. Please contact us directly to discuss details and growth opportunities related to this exciting marina auction package. FOR REAL ESTATE AGENTS REPRESENTING BUYERS: If you have been working with a Realtor, please have them click here and complete the Realtor Representation form. In order for the real estate agent to be compensated, forms must be completed and submitted no later than 24 HOURS BEFORE THE END OF THIS AUCTION SALE.