Marina Sold: Pelican Bay Marina – Gulfport, FL

Overview

Simply Marinas represented both parties on the sale of Pelican Bay Marina. The marina is ideally located in Gulfport (South St Petersburg) Florida.

The brokerage team secured a cash buyer within a week of their listing. Buyer closed within 35 days of contract.

Pelican Marina acquisition opportunity offers a rare completely hands-off wet slip rental facility in fee simple within a major Florida MSA.

Each of the marina’s slips is outfitted with a boat lift. The ownership is completely absentee, as there are no other profit centers to oversee. All income is derived from long-term slip rentals, eliminating the need for any on-site staff. Slips are consistently at 100% occupancy, with little-to-no turnover.

The marina sits on 2.05+/- acres (0.79+/- acres dry and 1.26+/-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 and dry land for possible slip expansion and upland development, pending any necessary entitlements.

The marina is within walking distance to historic Gulfport downtown and waterfront dining.