Simply Marinas Brokers Sale of Mariners Cove Marina

Simply Marinas represented both the buyer and seller for the confidential and quick closing of Mariner’s Cove Marina in St. Petersburg, Florida.  

This was a rare opportunity to acquire a rack storage marina in the city of Gulfport, within Pinellas County, Florida, and the fast-growing Tampa – St. Petersburg – Clearwater metropolitan statistical area. Mariner’s Cove Marina is ideally situated on Boca Ciega Bay, approximately 10 minutes from the Gulf of Mexico and the Sunshine Skyway/Tampa Bay. 

The Marina offers its customers approximately 154+/- fire-sprinkled rack slips and fuel service. The ownership takes a hands-off approach, with the majority of income derived from boat storage. There is no internally operated service and repair department and no retail income, aside from ice sales. Storage customers use the eight open-air, ground-level (service/wash) racks for DIY and outside contractor service and repairs. 

The marina is a blank slate for new ownership to increase revenue from ancillary profit centers, such as service and repair, retail, boat brokerage, and boat rentals, without the need for additional capital improvements. 

The marina sits on 3.07+/- acres (1.41+/- acres dry and 1.66+/-acres submerged), with both the submerged land and the dry land all owned in fee simple. Owning fee simple submerged land is a unique advantage in Florida, where many marinas operate on Florida State-owned sovereign submerged land leases, which often impose operational limitations on the marina owner. There is ample excess submerged land for possible slip expansion, pending any necessary entitlements.