Overview
Description
Banana Bay Marina has been in continuous operation for more than 20 years. Beginning in 2013 the marina facilities were progressively renovated and expanded and we completed the formal marina licensing process. Banana Bay is now a fully licensed marina and is one of 5 marinas in Costa Rica authorized to offer 2-year cruising permits. The marina has a licensed diesel fuel station, 5 hotel rooms, a restaurant and numerous apartments and offices, A second phase of expansion is still pending to construct an additional 40 slips in the approved concession area. (see expansion drawing)
The marina is reliably profitable. The owner recently leased the restaurant to a third-party operator to streamline their operations and reduce their overhead. Next, they will advance the next phase of dockage expansion. In the meantime, the owners have indicated they would accept $3.2Million for the marina and adjacent parcel (which is useful for future expansion) . This is well below price expectations from other marinas (either licensed or unlicensed) on the Pacific coast of Costa Rica. However, the current owner is in the process of liquidating their Costa Rican assets. The purchase price allocates approximately $2,600,000 to the real property and $600,000 to the business and its future expansion.
Banana Bay offers:
- Reliable positive cash flow
- A marina license in good standing with fuel pier and ability to offer 2-year cruising permits.
- An enormous concession area allowing dockage expansion.
- Name recognition and an excellent reputation.
The operating marina business is comprised of the following enterprises:
- Marina Slip Leasing
- Hotel Rooms
- Office, Storage, and Retail Leasing
- Restaurant
- Fuel Business
- Concierge Services
