Any News on Fairwinds Marina?
 

Fairwinds is up for sale...not sure of the current asking price.


Anybody keep their boat there or launch there?

I've noticed they are selling off a lot of abandoned boats that they put liens on in order to get the yard cleaned up. And they've been having a lot more of their "50% off" sales this year.

"Fairwinds is up for sale...not sure of the current asking price."

Rumor has it, it's 4+ million

Good Place for Condo's:D
5th (Marty)

I know someone who inquired a little. Can't be condos due to zoning. The person also said it will probably require upwards of a million dollars in environmental clean up.

LJ Marina is for sale too.

Wow
 

1 million for the cleanup alone...That means a new owner would take on a lot of liability as well...From someone potentially seeking part of the new deal...Sounds like a mess...

I can think of an almost unlimited number of things that would be better to invest 4.5 million in...Heck a 6% investment rate would pay more than $250,000 a year in profit...

Wouldn't be the first time zoning got changed...

Condo's
30 units at $500,000 would give you $15,000,000:eek:

Buy the place for 4 mil.
Clean up 1 mil.
Build units 5 mil
----------------------
cost 10 mil


Profit 5 mil
and, you can still rent over 100 slips for an annual profit

Maybe even put in a small resturant.

Hey; I've got to talk to Capt. John:D

5th (Marty)

The neighbors are one factor in a zoning change. Make it appealing to them and they won't oppose a change.

Another factor is traffic. Reduce the volume and it also makes a zoning change appealing.

A big downside factor is sewer allocation. I doubt that property has the allocation for 30 units or a restaurant. Acquiring allocation is a deep pocket venture in itself.