Southwind Marina Sinton Drive Pensacola, Florida Unique Opportunity to Acquire a 90 Slip Marina With Excellent Investment Potential

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Junior Lyons
5 years ago
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Urban Realty Southeast is pleased to present Southwind Marina 10121 Sinton Drive Pensacola, Florida 32507 Unique Opportunity

Adjacent to WCI Lost Key Marina & Condo Tower Estate sale opens this excellent opportunity for investment 90 wet slips from

1 Urban Realty Southeast is pleased to present Southwind Marina Sinton Drive Pensacola, Florida Unique Opportunity to Acquire a 90 Slip Marina With Excellent Investment Potential Closest marina to the pass Near world famous Perdido Key Adjacent to WCI Lost Key Marina & Condo Tower Estate sale opens this excellent opportunity for investment 90 wet slips from 35 to 70 feet Upland ideal for restaurant development, or Approvals in place for dry storage and service buildings on adjacent parcel

An Introduction to Southwind Marina $2,700,000 The Southwind Marina is located about 10 miles from downtown Pensacola, just west of the Pensacola Naval Air Station on Gulf Beach Highway, which

2 An Introduction to Southwind Marina $2,700,000 The Southwind Marina is located about 10 miles from downtown Pensacola, just west of the Pensacola Naval Air Station on Gulf Beach Highway, which connects Pensacola, the Naval Air Station and Perdido Key. It is the closest marina to Pensacola Pass and the Gulf of Mexico, and is adjacent to Lost Key, a WCI condominium and marina project. Southwind Marina is 7 minutes from world famous Perdido Key, and is about 5 miles closer to the Pass to the Gulf of Mexico than are the Perdido Island Marinas and nearly ten miles closer than the marinas on Pensacola Beach. Southwind Marina offers 90 wet slips from 35 to 70 feet, as well as an upland area that was formerly improved with a restaurant. In 2004, Hurricane Ivan, one of the most damaging storms to hit the US Gulf Coast in many years, demolished the popular Ryan s Catch Restaurant and most other improvements in the area. The marina was rebuilt but the restaurant was not, and the owner recently obtained approvals to construct dry storage buildings on an adjacent parcel. A 25,000 pound Hoist Fork Lift is included. An estate liquidation forces the sale of this unique marina, which has been under the same ownership for 27 years. The new dry storage area for the marina has been in planning and permitting for about two years and construction pricing was recently obtained, so construction could take place in the near future. During the planning process, upgrades to the marina were also planned, mostly catching up on maintenance due to a storm in This is a great opportunity to obtain a wet slip marina with room for dry slips or a restaurant. See following pages for detailed maps that include parcel labels.

3 Marina Operations Offering 90 wet slips, the Southwind Marina has been in place for many years, but was severely damaged by Hurricane Ivan in 2004, and the restaurant and many waterfront residences were washed away. The marina was later rebuilt and reopened. After deciding not to rebuild the restaurant, the owner pursued construction of two dry storage buildings and a service building on the parking lot parcels immediately north of the waterfront parcel, noted as Parcels 2, 3 and 4 on the following chart and plat map. The storage building is to be named Ryan s Catch after the former restaurant, and the name by which all locals know the marina. As the owner was waiting for the new permits in 2016 there was a storm event, possibly a small tornado, causing minor damage. So that all marina renovations could be done simultaneously, repairs were deferred, so a few repairs are necessary today. (Some pilings were reused after the hurricane and need replacing. A number of new pilings are stored on site.) Also, the owner did not want a marina full of boats when he began piling replacement, no marketing effort was made to attract new tenants. No marketing has been done in recent years, and occupancy is around 50%. Rental rates remain at $8.00 per foot, while competitive marinas have been raising rents to the $10.00 to $12.00 range or higher, and most are full. Once maintenance has been completed and after implementing professional marketing, Southwind should compete in line with the rest of the market and greatly increase revenues and profits. Southwind is the ideal fishing marina, as it is closest to the Pass and Fish Haven, a group of artificial reefs, is less than 15 miles offshore. The marina is also ideal for weekenders who use their boats as a second home. Beautiful beaches and islands are just minutes away. A newer 25,000 lbs. Hoist fork lift truck is included, and can lift boats and take them to the new buildings planned for the northerly parking parcel once the buildings are completed. Today, boats are stored on cradles or trailers.

4 Marina Parcels For Sale The marina includes several related parcels, including the main marina parcel, parking and storage lots across an interior street, and a parcel at the corner of the highway. All zoning is Commercial, which permits boat sales and service, though outside storage is not allowed. Parcel 1 is the main waterfront marina parcel. Parcels 2, 3 and 4 are across the street and are combined as site for the future boat storage and service buildings. Parcels 5 and 6 are the commercial corner parcel, presently used for boat and RV storage and ideal for a small boat dealership. However, zoning requires boats be kept indoors. No. Parcel Tax ID Address Land Area Marina 1 Marina Main 243S Sinton Drive 55, Paved Parking 243S Sinton Drive 13, Vacant Parking 243S Sinton Drive 14, Vacant Parking 243S Sinton Drive 2,395.8 Subtotal 85,294.8 Highway Commercial 5 Corner Parcel 243S Gulf Beach Hwy 24, Rear Parcel 243S Nelle Avenue 14,527.3 Subtotal 39,356.5 Total Marina Parcels Land Area -- Acres/SF ,651 The following page includes a map with the listed properties outlined. Red outlined properties are part of the marina sale.

5 Map of Parcels for Sale The parcels outlined in red are the marina property, and the numbering coincides with the previous list.

6 Navionics Coastal Chart

7 Aerial Photograph of Southwind Marina

Marina and Parking This photo shows the marina, the paved waterfront parking lot and the parking lot on the north side of Sinton Drive, which consists of the three northerly parcels 2, 3 and 4, which

The land area on the waterfront parcel is approximately 1.27 acres, and the non-waterfront parking site for the dry storage buildings totals 30,061 square feet or 0.7 acres. The commercial highway parcel lies in the southeast corner of Gulf Beach Highway and Casa Marina Lane.

8 Marina and Parking This photo shows the marina, the paved waterfront parking lot and the parking lot on the north side of Sinton Drive, which consists of the three northerly parcels 2, 3 and 4, which are combined as the site for the proposed dry storage and service buildings. This site includes the center paved parking lot and the unpaved areas to the east and west of the parking lot. The land area on the waterfront parcel is approximately 1.27 acres, and the non-waterfront parking site for the dry storage buildings totals 30,061 square feet or 0.7 acres. The commercial highway parcel lies in the southeast corner of Gulf Beach Highway and Casa Marina Lane. It includes the fenced corner lot and the vacant lot immediately to the south. The two combined lots total approximately 39,357 square feet or 0.9 acres.

9 Proposed Boat Storage Buildings The owner planned to fence the three center parcels 2, 3 and 4 and construct boat storage and service buildings. According to the engineering firm, no plans have been submitted for permitting, and the Development Order (DO) only specifies the area of the building footprints. The DO follows the site plans, which follow. The original plan was for simple, inexpensive buildings to provide protection from the sun and weather. The buildings shown are approximately 30+ feet in height, so that two or three typical boats may be stacked. It is not known if the buildings may be heightened to stack boats another boat high. The zoning regulations permit up to 150 feet in height, but the actual height that will be approved will depend on the Development Review Commission, taking into account the surrounding properties. The Lost Key High and Dry building with about 45 foot eave height is about two blocks northeast, but neighboring properties are townhouses and single family residential. Once complete, boats would be launched and retrieved at the waterfront and brought by the included Hoist forklift to the storage buildings. Site Plans follow the building plans.

10 Proposed Overall Site Plan for Dry Storage

11 Revised Site Plan for Boat Storage Buildings

Submerged Land Lease The Southwind Marina leases 115,795 square feet from the Board of Trustees of the State of Florida on a rolling ten year lease basis.

15 Submerged Land Lease The Southwind Marina leases 115,795 square feet from the Board of Trustees of the State of Florida on a rolling ten year lease basis. Leases have always been renewed by the state unless there have been willful acts that harm the environment or the public. Liveaboards are permitted, a rarity for leases. Liveaboard boaters pay additional rent and help provide night time security. In other locations, many boaters will acquire a boat and leave it at a marina near their favorite recreational spot and use it as a weekend or summer home. In this location, near Perdido Key, on the waters of Big Lagoon, only a few minute boat ride to miles of beaches and to the inlet to the Gulf of Mexico and with liveaboards permitted, the marina should be near full capacity, similar to every other marina in the area. Lease Language: Rental to the state is the greater of a fixed rent per square foot or 6.0% of revenues, less 30% if open to the public on a first come first served basis. The base rent totals approximately $14,000 per year, which exceeds the percentage rent at the current low occupancy.

16 Photographs of Southwind Marina

moved to the proposed storage area north across Sinton

17 The marina includes outdoor racks for about 20 boats along the shoreline, although these boats must eventually be moved to the proposed storage area north across Sinton Drive. A late model 25,000 lbs. Hoist fork lift truck is included.

18 Dockmaster s Office Fuel tank is beneath berm to left with inspection ports. Vinyl Sea Wall

19 Boat Lifts

The waterfront deck was always full on weekends and holidays, and remains popular.

20 View looking east along the waterfront deck. Ryan s Catch Restaurant was formerly just to the left. The waterfront deck was always full on weekends and holidays, and remains popular. A restaurant could likely be rebuilt. Some marinas have simply brought in a food truck to get started. Diesel, premium and regular gas with newer 12,000 gallon semi-above ground fuel storage tank.

21 View looking south toward marina from parking lot. View of parking lot.

View east across parking lot from the corner of Sinton and

View north along Casa Marina Lane from Sinton.

22 View east across parking lot from the corner of Sinton and Casa Marina, site of the proposed dry storage buildings. Marina entry to far right. WCI Lost Key condominium tower and high and dry in background. View north along Casa Marina Lane from Sinton. Marina parking lot, site for the proposed dry storage buildings, are to the right and Gulf Beach Highway is in distance.

23 View looking south across Gulf Beach Highway along Casa Marina Lane. Commercial lot to left. View looking southeast across commercial frontage lot on Gulf Beach Highway.

OMNI REAL ESTATE OFFERED FOR SALE PRIME LAND 5+/- ACRES ON PINE ISLAND ROAD IN CAPE CORAL, FL 33991

OMNI REAL ESTATE OFFERED FOR SALE PRIME LAND 5+/- ACRES ON PINE ISLAND ROAD IN CAPE CORAL, FL 33991 Price: $1,190,000.00 Location: 3130 SW Pine Island Road, Cape Coral, FL 33991 Lee County Zoning: Corridor