2012 Glen Cove Rd - Marinas FOR SALE


Vallejo, CA 94591
$3,950,000 USD
404-978-2347
2012 Glen Cove Rd, Vallejo, CA for Sale
$3,950,000 USD
Marinas - FOR SALE
1/6
null | 8.58% Cap Rate

2012 Glen Cove Rd
Vallejo, CA 94591


HIGHLIGHTS

  • Offering is for 185 rental slips plus controlling (80%) interest in dockominium association
  • High-quality asset that has been well-maintained by current owner with regular upgrades
  • Revenue is exclusively derived from slip rentals
  • Strong in-place cash flow that is projected to increase
  • 8.58% CAP rate based on asking price

OVERVIEW

Glen Cove Marina is a 222-slip "dockominium" marina located in the North Bay subregion of the San Francisco Bay, one of the major boating centers on the West Coast and just to the south of the world famous Napa Valley Wine Country. The Offering is for 185 slips owned by the seller and the seller's 79.96% interest in the Condominium Association for slip owners. Revenue is exclusively derived from slip rentals. Glen Cove Marina is a high-quality asset that has been well-maintained by current owner with regular upgrades. Both the uplands and the basin at the marina are owned fee simple, which is rare for California marinas. Glen Cove Marina has strong in-place cash flow that is expected to increase. 8.58% CAP rate based on asking price.

FOR SALE DETAILS

PRICE

$3,950,000 USD

PRICE/SF

$512 USD /SF

CAP RATE

8.58%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Glen Cove Marina

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Marinas

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

17 AC

LAND SF

740,520 SF

ZONING

-

APN/PARCEL ID

0079-310-720,0079-340-700,0079-340-710

ASK ABOUT THIS PROPERTY

Andrew CantorColliersMore Info
404-978-2347

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Andrew CantorColliersMore Info
404-978-2347

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.