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4701 Halibut Point Road - The Cove Marina, Sitka, AK

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4701 Halibut Point Road - The Cove Marina

Sitka, AK 99835-9565

Property Type:Specialty Sub Type:Marina Status:Existing Year Built:-
Stories:1 Typical Floor:1,200 SF Building Size:1,200 SF
For Sale Price:$1,450,000 Price/SF:$1,208.33
Cap Rate:5.93 %

Sale Notes:
The Cove Marina consists of 60 slips of varying sizes, 3 float sheds and 1 residence/lounge. The floats are constructed of PVC and Styrofoam material with treated lumber decking, steel connectors and an aluminum ramp. Real property consists of ~1,722 SF of upland property with an additional Army Corp permitted expansion for 25 parking spaces.
The Cove Marina generates approximately $130,000 per year in rents with $45,000 in operating expenses for a net operating income of $86,000. Replacement cost of the 10,198 SF of floating dock, piling, steel breakwater and ramps would total $1,780,820.
Marian is fully rented with a waiting list.
The Cove Marina is located in beautiful Sitka Alaska, one of the most vibrant and healthy fishers in all the word. Commercial fishing and Sport fishing are the primary industries.

Baranof Realty LLC
Travis Vaughan
(907) 747-5636

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