Local Marine Contractor Purchases Nettles Island Marina, Jensen Beach, Florida

Nettles Island Marina in Jensen Beach, Florida was recently sold to a local marine contractor. According to George Ash, national director of Simply Marinas who brokered the deal, the marina was one of the company’s most popular offerings having received strong interest and multiple offers from buyers nationwide. Ash further said that the buyer, who is a marine contractor, impressed the seller with a quick 30 days due diligence period, and a cash offer at full price. The Simply Marinas team represented both parties and advised the seller on all phases of the transaction.

Nettles Island Marina is located in one of the nation’s most desirable regions for marina acquisitions. The facility’s income is primarily derived from slip rental and long-term commercial tenant leases in the marina’s retail strip center. It has 77 wet slips and trailered storage for 22 boats.

This turnkey business that has been family-owned and operated since the 1980s, has maintained a consistently strong, profitable cash flow. The new owner is well-positioned to generate additional slip rental revenue and utilize the fee-simple upland to generate additional lease income. There is also upside in introducing owner-operated auxiliary businesses such as a boat brokerage/dealership, fuel sales, and other synergistic retail outlets

This is one of 20 transactions that the Simply Marinas team has conducted over the past year with more than $160 million in total marina transactions. Others include Beavers Bend Marina, OK; Fair Point Marina, NY; Shady Shores RV Park, NY; The Marinas at Little Harbor (Antigua Cove Marina and Village Marina), FL;   Starved Rock Marina, IL; Miami River Marine Center, FL; Flag Harbor Marine Service, MD; The Cove Marina, MD; Bahia Marina, TX; SE Waterfront Development Site; Miami River Marina, FL; West Coast JV on a 550 slip Marina; and a SE marina portfolio, among others.