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1960 Bayberry Ave

Merrick, NY 11566

$4,999,000

Marina For Sale  •  1,700 Sq Ft

Property Details

  • Property Type Marina
  • Total Building Size 1,700 Sq Ft
  • Lot Size 0.71 ac
  • Building Class B
  • Year Built 1940
  • Cap Rate 9.45 %
  • Zoning Marine/Commercial
0 Transit Score
16 Walk Score

Description

Open Bay Marina is very well established. The marina has been in operation for over 17 years and it's a turn key business.   The property is located on the open bay with views of Jones Beach theater / Jones Beach Tower and 15 minutes to Jones Inlet. The marina is centrally located between Wantagh Parkway and Meadowbrook Parkway. This facility has 50 boat slips in water along with 24 jet ski slips on brand new wave armor ports. All our slips have high tide brackets with fingers and some with double fingers for easy on and off. For the winter storage you can accommodate 80 boats and 24 jet skis. This property also has a house and Resturant on the premises. The Resturant has a current lease that expires in 2021 and tenant would love to renew the lease if possible. Tenant has been renting for 5 years now and is definitely the best tenant the land lord has ever had. All the slips at Open Bay Marina are 100% occupied. The views from this marina are breathtaking over looking Merrick Bay, not many properties  available like this anymore. There are endless upgrades that the owner has done to this property. Starting with a brand new bulkhead at new  elevation, new travel lift slip with 50' galvanize rails, all new jet ski ports and the list goes on... Speaking with the owner he is willing to stay on for awhile to help through the transition period. If you are interested in this beautiful Marina with a 9.4% to 12.6% cap rate, and any other additional information please contact me at anytime Annette Alicanti.(cell) 347-386-6932

Highlights

Beautiful views, Close to all parkways, 40 min to NewYork City by boat

Property Flyers

Financial Summary (Actual)

Net Operating Income: $472,173 (2018)
Cap Rate: 9.45 %
Total Expenses: $126,260

Major Tenants

Tenant SF Occupied Lease End Date
Anchor Down 1,700 SF 3/31/2021

Amenities

  • Waterfront

Public Transportation

Commuter RailDriveWalkDistance
Merrick Station Commuter Rail (Babylon Branch) 7 min - 1.7 mi
Bellmore Station Commuter Rail (Babylon Branch) 8 min - 2.7 mi
AirportDriveWalkDistance
John F. Kennedy International Airport 26 min - 17.0 mi
La Guardia Airport 35 min - 24.0 mi
Long Island MacArthur Airport 42 min - 29.5 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Annette Alicanti 631-673-3900 Open Bay Marina
Annette Alicanti 631-673-3900 Open Bay Marina