| Name: |
Samdog
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| Subject: |
Anchor Bay for sale?
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Date:
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10/3/2013 5:28:29 PM
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Saw a flyer today.
Asking $3,200,000
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| Name: |
wix
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| Subject: |
Anchor Bay for sale?
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Date:
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10/3/2013 5:47:17 PM
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That's about 3 or 4 good point lots in The Ridge, and you've got your own harbor, marina store, restaurant, and tons of tenants. Ain't too bad.
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| Name: |
wix
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| Subject: |
Oh, wait...
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Date:
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10/3/2013 5:48:41 PM
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do you get to own the land or is that APC property?
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| Name: |
roswellric
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| Subject: |
Anchor Bay for sale?
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Date:
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10/3/2013 9:37:58 PM (updated 10/3/2013 9:38:15 PM)
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Interesting. Owned by an Atlanta syndication. Same folks that were involved in the Blue Creek deal I believe.
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| Name: |
4thelake
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| Subject: |
Anchor Bay for sale?
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Date:
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10/4/2013 9:08:00 AM
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That group is called the Vinings group I believe. Sounds like, as a business, that is a ton of money. Interest at 5% on 2million is 100k a year. So put 1.2 mill down and still look for a return on investment?? Doesn't add up in my simple mind. I love the place but the days of paying exuberant prices for lake property that can't sustain a good business model have been over for about 5 years. I know there is a good dry stack storage generating money, and a ship store as another income center, but, still a hard nut to crack. My 2 cents
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| Name: |
roswellric
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| Subject: |
Anchor Bay for sale?
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Date:
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10/4/2013 10:10:04 AM
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Well you can ask anything. I would think today the dry stack is the most important component for an investment group or partnership - not boat sales... You get cash flow, depreciation and unless you get into repair -which would/should go with a separate sales operation it would make sense if the numbers work. I can't give an opinion on that one since I don't know the rates and number of racks.
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| Name: |
EvilGhost
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| Subject: |
Anchor Bay for sale?
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Date:
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10/4/2013 5:09:34 PM
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I have been working around that area for years and talking with the people who work there I can tell you that storage ranges are about 23k per month and the service part is slightly higher year round with only one tech who i see driving the forklift also. The store is only like a 90 to 120 day help then it is over. If this helps
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| Name: |
wehapa
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| Subject: |
Anchor Bay for sale?
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Date:
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10/4/2013 7:02:36 PM
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Maybe with needed repairs and lack of organic growth and development around AB, its worth 1.8mm
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| Name: |
roswellric
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| Subject: |
Anchor Bay for sale?
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Date:
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10/4/2013 8:23:20 PM
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Like to see a proforma.
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| Name: |
4thelake
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| Subject: |
Anchor Bay for sale?
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Date:
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10/6/2013 3:01:46 PM
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If it's such a cash cow, why is it for sale???? I know for a fact that they paid a ton less for it than 3.2 mil. Are you telling me there are 230 boats in the dry stack? Just asking on that cause I don't know. It is a nice facility but something smells fishy.
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| Name: |
roswellric
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| Subject: |
Anchor Bay for sale?
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Date:
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10/7/2013 9:18:15 AM
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I didn't say it was for sale. Just responding to the posts earlier.
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| Name: |
roswellric
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| Subject: |
OK Here's the listing
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Date:
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10/7/2013 9:25:43 AM
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Claiming about a 12% return
URL: Anchor Bay
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| Name: |
MartiniMan
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| Subject: |
Want to make a $1M in the marina biz?
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Date:
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10/7/2013 12:16:53 PM
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Apparently the way to do it is to start with $3.2M.... :-)
I too would like to see a proforma because on a discounted cash flow basis this business would need to spin off $55K per month in cash to make sense. With 20% down and financing with a 20-year amortization you would have a debt service of almost $20K per month.
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