As you can tell by the prior post in this series, the value of the dry lake marina is not the main issue. The real question to be answered is whether it is financially feasible to restart the marina and if not, at what market value it would be. Ironically, this is tied into.
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Appraising the Dry Lake Marina – Part 1 of 2
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Posted by John Simpson
There are a small number of marina assignments that have the word "tough" all over. Whether it is man-made or through an Act of God, a marina that has gone dry certainly deserves to be put in this category. Although few marinas have this problem, those owners and lenders that have them have a very.
Read moreSecrets of Reviewing Marina Appraisals – Part 7 of 8
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Posted by John Simpson
I'm not a big fan of the sales comparison approach for marina appraisals. Don't get me wrong - extracting a cap rate from sales is the best way to get true market derived cap rates. But when it comes to reviewing sales comparisons, it is not an easy job because you don't have the same.
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