Marina & Outfitter
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MARINA & OUTFITTER SALE OFFERING - LAKE JOCASSEE 516 JOCASSEE LAKE ROAD SALEM, SOUTH CAROLINA Cushman & Wakefield │Thalimer is very pleased to offer this unique opportunity to acquire the only marina & outfitter facility serving beautiful Lake Jocassee in the foothills of the Blue Ridge Mountains! Lake Jocassee was recognized by National Geographic as one of the top places in the world, and boating demand for this lake well exceeds supply. Due to restrictions in place by Duke Energy and FERC, an on-the-water marina is not allowed on Lake Jocassee. This facility boasts ¼-mile+ road frontage just outside Devils Fork State Park, which provides the only access to beautiful Lake Jocassee, and all visitors to Lake Jocassee pass by this facility on the only public road to and from the lake. Business is strong in 2020, with revenue up +38% YTD. Strong continued growth opportunities exist across all business segments. Of particular note, there is an immediate +84% growth opportunity for dry storage through a combination of continued upgrades, pricing and an additional building. Situated within close proximity to the growing markets of Greenville, SC, Asheville, NC and Clemson, SC, the facility draws a repeat customer base from across the Southeast and beyond. With very strong competitive positioning, coupled with clear barriers to entry, this facility is experiencing very strong sustained growth and profitability and provides a very attractive acquisition opportunity for either an investor or owner-operator. Brian Young, CCIM, SIOR Glenn Hollis Richard Jackson 864 370 8087 864 704 1345 864 704 1364 [email protected] [email protected] [email protected] MARINA & OUTFITTER INVESTMENT HIGHLIGHTS National Geographic: 50 Last Great Places! Lake Jocassee and the surrounding Jocassee Gorges were recognized by National Geographic as one of the top last great places in the World! Competitive Positioning | Barriers to Entry • Only Facility Adjacent to Lake Jocassee • ¼ Mile+ Frontage on Only Public Road to Lake Jocassee • Restrictions in Place Preventing On-Water Commercial Development Boat Storage Occupancy Facility offers 183 dry storage units, with expansion plans in place. Storage has remained consistently occupied at 100% with a waiting list. Neither general vacancy loss nor downtime has been factored into cash flow projections. Physical Property • ±15.11 Acres (Fee Simple) • Significant Cost, Liability and Environmental Benefits vs. On The Water Marina Building Rentable Area • Outfitter: ±2,211 SF Storage Facility: ±57,190 SF • ±5 Acre Development Opportunity Included (Residential or Boat Storage) Operating Annual Revenue • Approximately $1.85 million+ 2020 Asset Performance in Economic Uncertainty Despite economic uncertainty related to the COVID-19 pandemic and subsequent government response, Jocassee Outdoor Center has experienced 38.6% year over year revenue growth YTD. Brian Young, CCIM, SIOR Glenn Hollis Richard Jackson 864 370 8087 864 704 1345 864 704 1364 [email protected] [email protected] [email protected].