401 Concord St Havre de Grace, MD 21078

Exceptional investment opportunity: Log Pond Marina, a thriving waterfront property located at 401 Concord St, Havre de Grace, MD 21078. This established marina, built in 1990 and extensively renovated in 2021, boasts 71 slips accommodating larger boats (38, 40, 42, 48, and 100 feet). The property includes a 900 sq ft condo and bathhouse, plus three additional boat slips. Modern amenities include Meeco Sullivan floating docks (installed 2021), Ipe wood decking and pressure-treated framing, and electrical pedestals (2-30A/each side, some with 50A/30A combination). The marina features an air-conditioned bathhouse with laundry facilities, a common area with an outdoor grill and fire pit, and pump-out service. Transient slips are available for daily, weekly, or monthly rentals. The marina enjoys an 88% occupancy rate and a strong 4.7-star Google rating (43 reviews). The last dredging occurred in 2020. The sailing season runs from April through November. The property's permitted zoning is RB, and there's deeded potential for expansion to accommodate up to 199 slips. The total square footage is 1,742 sq ft. The asking price is $3,000,000, representing a 7.25% cap rate and a pro-forma cap rate of 8.21%. The current NOI is $217,565, with a pro-forma NOI of $246,262 (projected for the 2025 season).