11510 36th Ave W
$1,990,000, .23 Acres
About This Property
Fantastic investment opportunity- Cash Business! Offering 9+% cap rate, this liveaboard approved marina offers a superior return with less hassle than any apartment complex or mobile home. This fantastic, well-protected location on Palma Sola Bay is adjacent to the Intracostal Waterway and near the historic fishing village of Cortez, Fl. Parrot Cove Marina is just minutes away from the Gulf of Mexico, Sarasota Bay and Tampa Bay. There is an approved development of 1800 homes on the surrounding 350 acres of land. Vacancies are virtually non-existent with a waiting list for dockage. The marina currently has 22 boat slips existing, however the parking and submerged land lease allows for expansion up to 40 boat slips up to 65' long and at an average of 40' long. The proposed expansion plan yields 1700 linear feet of dockage. Dock space will rent for $12+ per foot with significant upside for rate increases, some local marinas charge up to $19 per foot of dockage. Tenants pay electricity and liveaboard fee. It is nearly impossible to get approval for a new marina in Southwest Florida today. This will be a very desirable high demand marina location for as long as people float in boats! Own a marina and never go through a formal eviction again!
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Listing data comes from My Florida Regional MLS.
Listing information last updated on December 16th, 2017 at 7:18pm EST.