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2012 Glen Cove Rd - Glen Cove Marina 7,722 SF Specialty Building Offered at $5,468,775 CAD at a 8.58% Cap Rate in Vallejo, CA 94591
INVESTMENT HIGHLIGHTS
- Offering is for 185 rental slips plus controlling (80%) interest in dockominium association
- Revenue is exclusively derived from slip rentals
- 8.58% CAP rate based on asking price
- High-quality asset that has been well-maintained by current owner with regular upgrades
- Strong in-place cash flow that is projected to increase
EXECUTIVE SUMMARY
Glen Cove Marina is a 222-slip "dockominium" marina located in the North Bay subregion of the San Francisco Bay, one of the major boating centers on the West Coast and just to the south of the world famous Napa Valley Wine Country.
The Offering is for 185 slips owned by the seller and the seller's 79.96% interest in the Condominium Association for slip owners. Revenue is exclusively derived from slip rentals. Glen Cove Marina is a high-quality asset that has been well-maintained by current owner with regular upgrades. Both the uplands and the basin at the marina are owned fee simple, which is rare for California marinas. Glen Cove Marina has strong in-place cash flow that is expected to increase.
8.58% CAP rate based on asking price.
The Offering is for 185 slips owned by the seller and the seller's 79.96% interest in the Condominium Association for slip owners. Revenue is exclusively derived from slip rentals. Glen Cove Marina is a high-quality asset that has been well-maintained by current owner with regular upgrades. Both the uplands and the basin at the marina are owned fee simple, which is rare for California marinas. Glen Cove Marina has strong in-place cash flow that is expected to increase.
8.58% CAP rate based on asking price.
PROPERTY FACTS Under Contract
| Price | $5,468,775 CAD | Property Subtype | Marina |
| Price Per SF | $10,937.55 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 17.00 AC |
| Cap Rate | 8.58% | Building Size | 500 SF |
| Sale Condition | Business Value Included | No. Stories | 1 |
| Property Type | Specialty | Year Built/Renovated | 2000/2025 |
| Price | $5,468,775 CAD |
| Price Per SF | $10,937.55 CAD |
| Sale Type | Investment |
| Cap Rate | 8.58% |
| Sale Condition | Business Value Included |
| Property Type | Specialty |
| Property Subtype | Marina |
| Building Class | B |
| Lot Size | 17.00 AC |
| Building Size | 500 SF |
| No. Stories | 1 |
| Year Built/Renovated | 2000/2025 |
AMENITIES
- Waterfront
ABOUT 2012 GLEN COVE RD , VALLEJO, CA 94591
185 slips owned by the seller and the seller's 79.96% interest in the Condominium Association for slip owners Marina Office - 525 SF Marina Bathhouse & Laundry - 500 SF Yacht Club building - 480 SF
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2012 Glen Cove Rd - Glen Cove Marina
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