Glen Cove Marina in Vallejo, California, has been placed on the market with an asking price of $3,950,000 USD. The offering covers 185 wet slips and a controlling 80% interest in the dockominium association.
Situated on the Carquinez Strait, the marina provides direct boating access to the San Francisco Bay, the Sacramento-San Joaquin Delta and the Napa River. Its location is also 15 minutes south of Napa Valley.
The marina’s revenue is generated exclusively from slip rentals. Current operations show steady income, with an 8.6% capitalisation rate projected after the next rate adjustment.
The sale is being managed by Colliers’ Leisure Property Advisors, represented by Senior Vice Presidents Andrew Cantor, Dan Grovatt and Matt Putnam.
