Any News on Fairwinds Marina?

[5th Tuition]

Originally Posted by reds

A big downside factor is sewer allocation.

OK; I'll make it senior housing and make it mandatory they all wear adult diapers

5th (Marty)

[Skip]

Water front topless donut shop

Be interesting to see how long the seller stays firm on 4.5 million.

Bet it ends up going for far less then that.

[drichitt]

I would be curious to see what kind of cash flow that place is generating. Unless a zoning change can be had, any potential buyer's valuation will be based on existing cash flow and not potential. I agree with Mike....I can think of a few better places to park $4.5 million.

[reds]

Originally Posted by drichitt

I would be curious to see what kind of cash flow that place is generating Unless a zoning change can be had, any potential buyer's valuation will be based on existing cash flow and not potential. I agree with Mike....I can think of a few better places to park $4.5 million.

7 to 10 years ago.....

It would depend on whether a person was a developer or an investor.

A developer would shoot for the property's highest possible use for return on investment. 50 to 100% return (or more). Out and gone in the shortest time possible.

An investor would look at existing cash flow and needed repairs to judge the value.

It's all speculation because of the family's situation. If no one is pushing for a sale, they probably can afford to sit on it, until they get their price.

If someone is pushing, the price will come down

[Blakesdad]

****tttt.. that asking price will fall like the Berlin Wall...

Just ask Captain Zed.... That place went for a song.....