Thread: Marina for sale
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Old 01-26-2010, 06:08 PM   #12
LIforrelaxin
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If I had to guess I would say this is Glendale Marine. The Building size is far to small to be any of the other Marinas.....

Now somethings getting mis-represented here.... the purchase price is indeed 1.9 million
However there is 400K in stock merchandise...... now the last time I knew anyone looking into buying a business was many years ago. But as I remember the 400K stock merchandise could not be rolled into the purchase of the business, that was its own seperate short term loan.

Hence the mortgage being carried by the new owner would be more like 1.5 million.....

now they show there sales Revenue as roughly 877K ....... which I would assume includes winter storage income and profits of 275K..... so they say they are opperating on 500K....

something seems very fishy here...... or this business has been in the hands of the same people for years and therefore doesn't currently have a mortgage on it......
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