Fort Morgan Marina

Special Purpose for Sale
Distressed
Also listed as Retail-Commercial, Multi-Family
Catylist Listing ID: 30115441
Property Subtypes: Marina, Other
Building Size (RSF): 14,573 SF
Gross Building Area: 37,387 SF
Gross Land Area: 8 Acres
Sale Price: $4,000,000
Ceiling: 40 ft.
Property Use Type: Business
Usable Size (USF): 37,387 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Short Sale/Bank-Owned: Yes
Last Updated: 7/16/2018

Overview / Comments

A well-established marina, restaurant and ship's store with significant vacant and unfinished space, perfect for expansion. The property includes eight 100 ft lots with all structures sitting on the eastern half of the property. The western half of the property is vacant with an unfinished pier and may be able to be sold separately. The marina has 72 boat slips, 2 fuel stops, tri-level dry-storage with up to 100 bays and outdoor storage for 25 plus boats on a 56x136 slab. Tacky Jack's Fort Morgan provides waterfront dining and has a downstairs bar area, an upstairs restaurant with 125 seats, and 2256 s.f. of out door decking. The marina's building has over 10,400 s.f. of useable space on two floors which includes a 2,000 s.f. ship's store, an elevator and restroom facilities and approx. 2800 s.f. of waterfront decking. The entire facility has 84 parking spaces with plenty of room for growth.

Attachments & Media

Current Tenants

Tenant Business Name Tacky Jack's Fort Morgan
Website URL http://www.tackyjacks.com/locations/fort-morgan-al
Industry Type Other Services
Is Renting? Yes
Tenant Notes Non Disclosure Agreement required to review documents and financials.

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Taxing Authority: Baldwin County
Tax ID/APN: 311748 and 054824
Zoning: B-4 (MAJOR COMMERCIAL) AND B-2 (NEIGHBORHOOD BUSINESS)
Property Located Between: Fort Morgan State Park, The Indies and The Dunes Condominiums
Property Visibility: Excellent
Largest Nearby Street: Ft. Morgan Road
Feet of Frontage: 800
Highway Access: Highway 59 - 21 miles
Airports: Jack Edwards - 23 miles, Pensacola Airport - 57 miles
Site Description: Eight acres of waterfront divided into two 4 acre parcels, each with four 100 ft lots. The west parcel is vacant with an unfinished pier. The east parcel has a well-established restaurant (Tacky Jack's), a marina with significant dry storage, an operations building with a ship's store and significant parking.
Area Description: The surrounding area is beach and bay residences, including condominiums and houses. The property is 1 mile from the end of the Fort Morgan Peninsula on Mobile Bay.
Total Number of Buildings: 3
Number of Stories: 2
Property Condition: Average
Roof Type: Other
Construction/Siding: Metal Siding, Steel Frame, Wood Siding
Exterior Description: Building 1 - Tacky Jack's restaurant and bar, two stories - ground floor 1944 s.f., 2nd floor 2225 s.f., plus exterior raised deck of 2,256 s.f. Also, the ground floor has large waterfront wood deck area for restaurant patrons. Building 2 - 2 stories, 1st floor is raised on pilings. Each floor is 5,207 s.f. The dock store occupies 2,050 s.f. The remaining 8,364 s.f. is vacant. West side of the 1st floor has two restrooms, then a deck connecting to an elevator and the Restaurant Building 1. Building 3 - Dry boat storage building, 40' ceiling, metal building 187 length by 122 width, or 22,814 s.f.
Parking Type: Surface
Parking Description: 84 surface parking spaces, plus additional room around the boat launch and storage area.
Passenger Elevators: 1
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Internet Access: DSL
Interior Description: Building 1 - Tacky Jack's Restaurant has a bar downstairs, and a restaurant upstairs, approximately 125 seats. Both interior locations can access the adjacent decking. Building 2 - The dock store occupies 2,050 s.f. on the eastern side of the 1st floor. The remaining 8,364 s.f. is vacant except for some storage. The interior of the vacant areas are not completely built out, however, plumbing and stud walls exist. Building 3 - The building has a concrete drive aisle down the center and each side has 3 levels of boat storage bays, totaling approximately 100 storage spaces. There are hanger doors at the north and south side, 23' wide opening.
Zoning Description: B-4 (major commercial) and B-2 (neighborhood business)
In Flood Plain?: Yes
Lot Frontage: 800 feet
Lot Depth: 400 feet IRR
Water Service: Municipal
Easements: Water Rights
Land Ownership: fee simple
Legal Description: "MASTERCARD" FOR GULF SHORES YACHT CLUB & MARINA COMMERCIAL PROPERTIES A LAND CONDO 400'(S) X 497'(S) IRR MARINA UNIT OF WATER'S EDGE A LAND CONDO LOTS 62, 63, 64, 65 GULF BEACH SUB "A" PB1 PG142 GR SEC 1-T9S-R1E (DECLARATION) IN#906439 IN1 018575 and "MASTERCARD" FOR WATER'S EDGE A LAND CONDO NON-MARINA UNIT 4 00'(S) X 497'(S) IRR LOTS 66, 67, 68 & 69 GULF BEACH SUB "A" PB1 PG142 GR SEC 1-T9S-R1E (DECLARATION) IN#906439 IN1018575

Demographic Statistics

Proximity: 5 miles
Total Population: 433
Median Age: 58.42
Households: 216

Contact

Photograph of Listing Agent

Frank Malone

Bellator Real Estate and Development
The information presented herein is provided as is, without warranty of any kind. Neither Gulf Coast CMLS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.