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    2240 Shelter Island Dr San Diego, CA 92106

    Sponsored
    For Sale
    $30,000,000

    Iconic San Diego marina, high occupancy.

    Property size:
    12,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional investment opportunity: Shelter Cove Marina, located at 2240 Shelter Island Dr, San Diego, CA 92106, is offered for sale at $30,000,000. This premier marina boasts 161+ floating slips and approximately 6,100 linear feet of dock space, currently enjoying approximately 98% occupancy with a waiting list. The property includes a 12,000 square foot commercial building, with 6,000 square feet available for lease, currently occupied by multiple commercial tenants generating consistent rental income. The marina is master-leased from the San Diego Unified Port District (no fee simple land included in the sale). It benefits from an absentee ownership structure with existing management in place, and is certified as a Clean Marina, featuring an electronic key security system. The property is expected to be available for occupancy on November 17, 2024. This turnkey operation represents a rare opportunity to acquire a highly profitable, passive income-generating asset in a desirable West Coast location within America's Cup Harbor. The vast majority of income is derived from slip and commercial tenant leases.

    Property Features for 2240 Shelter Island Dr

    General Information

    Property type
    Marinas
    Square Feet
    12,000 SF

    HighLights

    • $30,000,000 asking price for Shelter Cove Marina in San Diego, CA.
    • Master leasehold interest with the San Diego Unified Port District; no land ownership included.
    • Income primarily from slip and commercial tenant leases.
    • Absentee ownership with existing management.
    • 161+ boat slips and approximately 6,100 linear feet of dock space.
    • 12,000 sq ft commercial building with 6,000 sq ft of leasable space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Trek Properties Travel Agency Baker Robert G ... Accountant San Diego Yacht ... Yacht Broker Tate & Associates Accountant Shelter Island Sailing Sailing School

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.2211972
    Latitude
    32.7193798

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    FAQs

    What type of property is this?
    Marina - Iconic San Diego marina, high occupancy.
    Where is this marina located?
    The property is located at 2240 Shelter Island Dr San Diego, CA.
    What is the asking price?
    The asking price for this property is $30,000,000.
    What are key features of this property?
    This property features: $30,000,000 asking price for Shelter Cove Marina in San Diego, CA.; Master leasehold interest with the San Diego Unified Port District; no land ownership included.; Income primarily from slip and commercial tenant leases.
    Request Owner's contact information
    2240 Shelter Island Dr San Diego, CA 92106
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2240 Shelter Island Dr San Diego, CA 92106
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