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    OFF-MARKET
    Commercial real estate

    215 Water St, Grafton, IL 62037-1146

    Individually Owned Free & Clear
    Property ID
    US28-4620036
    Property summary
    AI-generated overview

    This exceptional, turnkey marina in Grafton, Illinois, is offered at $6,450,000. Known as "The Key West of the Midwest," this established business boasts approximately 304 slips, including covered and open wet slips, catering to boaters of all sizes. Amenities include a full-service restaurant (leased and operated by tenants), a winery (owner-operated), a 53' all-weather tour boat, a floating "ARRR Bar," laundry facilities, two offices, a floating pool and hot tub, high-speed diesel and gas pumps, a ships' store, general store, and gift shop. The marina also features personal watercraft dockage and a protective breakwater. The property includes long-term renewable submerged land leases. Minimal deferred maintenance is reported. A significant value-add opportunity exists with approved plans for a dry storage building (racks). This is a rare opportunity to acquire a well-established, profitable marina in a desirable location. The property is located at 215 W Water St, Grafton, IL 62037.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    APN 08-115-007-00
    UPID US28-4620036
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    CAP Approach CAP
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    Blend (final) Blend
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    Owner & transaction history
    DESHERLIA MANAGEMENT
    DESHERLIA MANAGEMENT
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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