Sale Creek Marina

Special Purpose for Sale
Catylist Listing ID: 30241829
Property Subtypes: Marina
Building Size (RSF): 3,748 SF
Gross Building Area: See Agent
Gross Land Area: 8 Acres
Sale Price: $1,625,000
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/3/2018

Overview / Comments

Imagine... owning a pristine waterfront location with a boutique marina of 100 slips. Imagine... creating a unique waterfront destination for outdoor enthusiasts. Imagine... receiving passive income for your retirement plan. Welcome to 3900 Lee Pike in Soddy Daisy Tennessee. Step back in time to a simpler time and picture yourself sailing on calm waters. Sale Creek Marina has been owned and operated since the 1980's by a single owner who has remained committed to servicing the sailing community. Located within 2 minutes of the main Tennessee River channel and within 30 minutes of downtown Chattanooga. Currently 60% to 70% occupied, this 100-slip marina offers equipment including a Marine Travelift to haul boats out of the water, as well as a barge for dock building. The marina includes over 5 acres creating a cabin community for rentals to enhance the profits as much as $15,000 to $30,000 per month. The current owner has already obtained an assignable expansion plan of 200 slips. An ideal location exists for the addition of a restaurant to serve the boating community and the surrounding 1,500+ waterfront homes. In addition, there is ample room to initiate kayak and paddle board rentals for an another potential revenue stream of up to $50,000 per year. Current GMI with boat slips and service work is $215,000 per year. With the additional potential development expansion the GMI could be well over $600,000 per year. If you're an outdoor enthusiast looking to create a wonderful retirement nest egg, this is an ideal and thoroughly rewarding investment opportunity. Call for your private showing today.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Tax ID/APN: 022 005.02
Legal Description: Lee Pike Sale Creek Marina

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,293 10,678
Median Age: 44.4 44.3
Households: 1,277 4,132

Contact

Photograph of Listing Agent

Grace Frank

Real Estate Partners Chatt LLC Greater Chattanooga REALTORS® Member
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