Surfside Marina 4 Sale...

[WestEndAngler]

Anyone want to buy a full service Marina? Maybe the new FWE HQ??

[Seaweed]

I guess that's one of those if you have to ask how much then you can't afford it lol..

[WestEndAngler]

I asked.. they said no asking price

[Robalo]

Amazing-they just built it and already selling-note must be huge.

[Redfish Rob]

that would be pretty tight !

[WestEndAngler]

Amazing-they just built it and already selling-note must be huge.

We'll see if it moves... I bet it will get foreclosed if they already have it on the market.

[Gilbert]

I'd buy it if I got a copy of everyone's keys to their boats

[Seaweed]

Either that or this was there plan the whole time, although I don't think that thing has been much if any over 40% full since it opened. Now this makes both of them and the other Gulf Coast for sale. I know they are asking 2.1m for Gulf Coast I would assume it would be a good 3mm for Surfside.

We'll see if it moves... I bet it will get foreclosed if they already have it on the market.

[caz]

i might have some spare change layin around

[Blackbeard]

700K,will get you West Bay bait in Jamaica Beach its also for sale. It was,500 2 years ago.

[WestEndAngler]

Either that or this was there plan the whole time, although I don't think that thing has been much if any over 40% full since it opened. Now this makes both of them and the other Gulf Coast for sale. I know they are asking 2.1m for Gulf Coast I would assume it would be a good 3mm for Surfside.

I have yet to run across any investor who would only 1/2 lease the facility nor do I know one that would come in with it 40% leased as you mentioned and buy it as an income producing piece of property. That's a tough one to swallow right there!


Blackbeard... for the size of that property I'd go buy a lot in Pirates at that price...

[Seaweed]

Yeah I agree, I think Freeport has seen it's "limit" to the people who want to dry stack. I don't really think this is from the economy either. I think there are just so many people/boats that are willing to do it. The other one on the other side is maybe 50% full as well. So the competition thing is not going well for either. Plus the upcharge on the gas. It's rediculous. I looked at putting hte World Cat in there but it's just not worth it. Then the Freeport Marina has a huge one built as well, unless they almost give those spots away for free there not going to rent it, especially being an extra 4 miles to the gulf. I can't see either any of the 3 being good investments, but hell what do I know I work for the man..

[WestEndAngler]

I'd have to run a few proformas and get more in depth details but I doubt they'd privledge me with that unless I had $1000 bills falling out of my pockets I wanna dry dock my 14' jon boat yall got space for me

[HarryK]

Not to hijack this thread, but Tiki Island Marina is doing something similar....good or bad?

http://www.bizjournals.com/houston/stories/2009/04/27/daily39.html

[WestEndAngler]

Tiki was foreclosed by IBC Bank, I'm assuming they'd put together some sort of marketing plan. I tried to get with IBC but had no luck back in January.