Grand Larsony
Member
- Joined
- Jul 29, 2005
- RO Number
- 18485
- Messages
- 155
Hey everybody - I've been lurking around here for months and something very interesting just came my way. I'd love to hear what the experts on this board think... Sorry if this post is a little long, but since I know there are lots of considerations I'm including what I know as of today.
My good friend and dockmate has been looking at a small marina for about 6 months (he's a fairly succcessful local realtor and landlord). It's been recently dropped from $1,600 / mo lease to 1,000 and we think we could get a one-year lease close to $700/mo. We'd also work out a 5 year option to extend at that rate if possible.
It's located on a short access canal between Lake Ontario and Long Pond, meaning that only smaller craft would come by. That said, we're somewhat confident that traffic could be sufficient with mostly fishing and <21' pleasure boats.
There is one building can house a cash register and ice, soda, worms, candy, 2 stroke oil, etc. There could also be room for a 3rd party to sub-lease if we wanted to offer some sort of repair or maintenance services (neither of us would do this ourselves, however).
There's also a well maintained second building with simple bathrooms for men & women. The above ground gas tank and single pump looks to be in good shape.
The place has 20 slips that are suppposedly already reserved (not paid) for the 2006 season at 500 each... base revenue = 10,000. Docks and water depth are sufficient for smaller boats.
We're not looking to get rich but I think there is a possiblity to make a few thousand per year between us if we're smart and creative.
What should I be asking before getting in any deeper???? What other ideas are there for generating additional revenue?
In any event, I hope this is a fun topic now that we're in the dead of winter (up here at least).
My good friend and dockmate has been looking at a small marina for about 6 months (he's a fairly succcessful local realtor and landlord). It's been recently dropped from $1,600 / mo lease to 1,000 and we think we could get a one-year lease close to $700/mo. We'd also work out a 5 year option to extend at that rate if possible.
It's located on a short access canal between Lake Ontario and Long Pond, meaning that only smaller craft would come by. That said, we're somewhat confident that traffic could be sufficient with mostly fishing and <21' pleasure boats.
There is one building can house a cash register and ice, soda, worms, candy, 2 stroke oil, etc. There could also be room for a 3rd party to sub-lease if we wanted to offer some sort of repair or maintenance services (neither of us would do this ourselves, however).
There's also a well maintained second building with simple bathrooms for men & women. The above ground gas tank and single pump looks to be in good shape.
The place has 20 slips that are suppposedly already reserved (not paid) for the 2006 season at 500 each... base revenue = 10,000. Docks and water depth are sufficient for smaller boats.
We're not looking to get rich but I think there is a possiblity to make a few thousand per year between us if we're smart and creative.
What should I be asking before getting in any deeper???? What other ideas are there for generating additional revenue?
In any event, I hope this is a fun topic now that we're in the dead of winter (up here at least).