Profile

Property Description

Leisure Investment Properties Group, LLC is pleased to exclusively offer for purchase Dowry Creek Marina (also referred to as “The Marina”) in Belhaven, NC. The Marina is a family-owned and operated marina that is a popular stop for yachts traveling the East Coast ICW at Mile Marker 132. This is the busiest transient marina in the Carolinas and was designated the third-best small marina in 2023 by Marina Life Magazine. This is a secluded and very comfortable marina atmosphere away from the hustle of city marinas, yet close to services and shopping.

The docks are owned by the Boataminium Owner’s Association who pays for the maintenance of the docks. The marina management owns 40 slips or 55%, which gives the marina management majority of votes in the Association. The marina management owns the real estate and building facilities. In 2023 this marina was voted the third best small marina in America by Marina Life Magazine.

Amenities

Clubhouse

Fuel Dock

Indoor Seating : 235

Laundry

Meeting Rooms

Security Cameras

Ship Store

Swimming Pool

On-Site Manager

Outdoor Seating : 80

Restaurant/Grill/Bar : In-House

Pump-Out

WiFi

Investment Highlights

Highlight - 1 :

Offered at $4,000,000 11.43% CAP RATE.

Highlight - 2 :

The restaurant business will be retained by the seller and lease the building from the new owner. Buying the restaurant is an option.

Highlight - 3 :

A growing customer base from excellent word of mouth from the boating community and mentioned in numerous boater guides.

Highlight - 4 :

Water and sewer on site. Also, in front of additional development land included.

Highlight - 5 :

THE BOA STRUCTURE BENEFITS TO THE MARINA: The largest operating expense for most marinas is the maintenance, repair, and insurance for the pier and power pedestals. Because of the BOA structure, with the Marina currently owns 40 of 73 slips, and 29 of those 40 slips being free in exchange for managing the pier, leaving The Marina paying for 11 slips and private owners paying for 33; so, The Marina only funds 25% of the pier expenses, with the other owners funding 75% of the pier costs.