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Established Successful Marina

Cape May, NJ (Cape May County)

Seller Financing Available
Established Successful Marina
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Asking Price: $4,475,000

Cash Flow: $180,000

Gross Revenue: $225,000

EBITDA: $180,000

FF&E: $45,000

Inventory: N/A

Established: 2010

Established Successful Marina

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Business Description

Beautiful established Marina with huge growth and expansion potential. Located in beautiful high end Cape May NJ.

This marina needs new management. Appraised for $12,200,000 in 2013- its offered today at only $4,475,000

When fully rented Slip Rental Income would be $390,000 for 245 slips
Average Summer slip rental is $1600 per season
Winter dry storage rental is $13 TO $18 per foot
Onsite work shop is 40 ft by 80 ft 3200 sq ft
Apartment in shop is 1200 sq ft

Owner has these Permits in hand:
1.Height Variance for boat dry storage -to store 300 additional boats
2.Restaurant
3.Add 900 feet of dock

Minimum depth of marina and channel:
- low tide 8 feet
- high tide 13 feet

Many sail boats are stored here with no depth issues.

There are no marinas this size for sale in NJ.

THIS CAN BE A MOSTLY CASH BUSINESS !!!

HUGE POTENTAIL FOR REAL ESTATE EQUITY ESCALATION.

Proforma
Income

Slip Rental Income $ 343,000
Dry Storage Rental $ 33,750
*Service Shop Rental w/ Apt $ 120,000
Fuel Sales- Part Sales Net $ 40,000

total $ 536,750

Expenses

RE Taxes $ 25,000
Electric $ 7,200
Misc $ 8,000

total $40,200

Net Earnings $496,550

* Rent service shop w/ Apt. to a third party

Summer weekend ramp fess can be $2,000 CASH

Detailed Information

Location:
Cape May, NJ
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Large lot size of 45 acres. 20 dry and 25 wet. On site manager cost you nothing- he runs a bait shop free for the owner. Total number of boat slips 245
Competition:
This marina needs new owner who can do marketing /social media to fill up the slips.
Growth & Expansion:
Great location with limited competition in the area.
Financing:
10%
Support & Training:
2 weeks
Reason for Selling:
Health reasons and retirement
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James McGeehan

Business Listed By:
James McGeehan

Ensure Capital

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