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28198665
28198595

1216 Lupton Dr., Oriental, NC 28571

DG
NC 241055
Marcus & Millichap - Raleigh
MM
FL BK3090012
Mlm Properties LTD
Listed by Marcus & Millichap - Raleigh, Mlm Properties LTD
$3,125,000
206 days on market
Updated 85 days ago

Sailcraft Services & Boatyard

Details
Property Type Special Purpose
Sub Type Marina
Square Footage 5,286
Net Rentable (SqFt) 5,286
Units 1
Cap Rate 10.74%
NOI $335,693
Occupancy 100%
Price per SqFt $591
Broker Co-Op Yes
Year Built 1987
Year Renovated 2012, 2017
Buildings 4
Stories 2
Lot Size (SqFt) 43,124
Zoning Comm
Ownership fee simple

Special Purpose | 10.74% CAP | 5,286 SqFt

Marketing description

Sailcraft Services & Boatyard is located on Whittaker Creek, Oriental, North Carolina. Whittaker Creek is located on the Neuse River which is part of the intracoastal waterway. The Atlantic Ocean is 25 miles to the west. Oriental hosts over 2700 sailboats and is known as the "Sailing Capital of North Carolina". Oriental is a favorite location to stop for boats traveling north and south along the east coast or intracoastal water way. Many boats seek fuel and repairs and Oriental offers all the services and amenities for boaters.

Sailcraft property consists of .99 acre with four buildings totaling nearly 5,300 square feet: two service buildings, carpentry and mechanic shops. Sailcraft marina has operated continuously for almost four decades. The boatyard is full service offering range of boat repair including engines, rigging, welding, surveys, cleaning, hull painting, repair of fuel and water tanks, mast repairs, composite work, HVAC and others. The staff include Yamaha and Mercury certified mechanics. Wet storage includes 270 feet of seawall that accommodates up to seven boats. Dry land storage offers approximately 30 spaces.

Investment highlights

  • Operating for nearly four decades

  • Under current ownership since 2018

  • Full service boatyard - engines, fiberglass, electronics, metal work,

    • woodwork, hull & bottom, rigging

  • Quality and experienced marine technicians

  • 35 ton lift - Largest in Oriental

  • Services sail and power boats

  • Outstanding reputation

  • Intracoastal Location


Listing Contacts

DG
NC 241055
Marcus & Millichap - Raleigh
MM
FL BK3090012
Mlm Properties LTD
Listed by Marcus & Millichap - Raleigh, Mlm Properties LTD

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$335,693.00
$27,974.42/mo

Valuation Metrics

0
DSCR
10.74%
Cap Rate
10.74%
ROI

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Additional Information

Name
Charles Gallagher
License
NC 351471
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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