Riviera Dunes Palmetto FL boat slips

[madhatter1]

As posted in another thread we purchased a slip at this facility. The reason I got interested in this was started by reading a thread about a marina up north kicking all old boats out regardless of condition and only allow newer boats. So from both posts on this thread and some research online I figured out this is the beginning of something.

We are lucky enough to live on the water in FL with the dock in the back yard. Got in way back when. Business is doing well and even with todays crazy prices no reason to cash out now. Now I know some on the water will stay there until pushing up daisy's. But for me I am thinking the 10 year plan just in case I want to downsize and use the equity to well, have fun. So the slip is an insurance policy that I'll always own my own spot plus it is a fantastic protected hurricane hole.

Anyway all that said and now that we have secured our future (closing was 5/31) I would like to share some info about slips here and a few other places I learned about. Maybe some members here would be interested in purchasing as well. We paid 245K for a 70' slip. They allow the boat to be (strictly) 10% larger than the slip size. Regardless of slip size all slips pay the same quarterly HOA fee which is $930. The marina will rent your slip for you when not being used for 7%. Very reasonable. But no restrictions on you renting it yourself.

Yes they inspect boats here to be "allowed" to stay. But really just no crappie POS boats allowed. Already told my son he needs to paint the 34 before he can use the slip. It's a really nice place and any cared fore Hatteras would pass muster. And power boat only. No sail boats . So nice and quiet on a windy day.

Prices are about $3500 per foot to purchase. But just to the south of here where other slips are available in Longboat Key Moorings (nice place) they are now at $12,000 a foot plus you get to pay $65K to join the club just to be able to use the pool. I do think these prices there are more wishful thinking. Another place in Clearwater to the north has smaller slips with only a few uncovered that have prices from reasonable (but way too small for us) to $1,192,000 for a 45' slip.

Currently there is one slip available that is 60' for $210,000. Based on recent activity I would think more will be popping up. Anyone interested post here or PM. I will help out any way I can. They said the end of waterfront came years ago. Which it kind of did. But who would have thought marinas would get picky about what boats they leased to. And with expected lease rate jumps it actually makes financial sense IMO.

[Freestyle]

Thanks for the update and useful info. Riviera Dunes is a nice marina and I envy your having gained control of your slip arrangement and price.

I would love to find a similar arrangement in Charlotte Harbor, Keys, or Bahamas as a second homeport and cruising destination.

What is the rental strategy at Riviera Dunes? Do you lease it annually, seasonally, or to transients in order to get the best use/return?

Bruce

Freestyle
1986 62 CPMY (54MY with ext)
Tampa

[madhatter1]

Thanks for the update and useful info. Riviera Dunes is a nice marina and I envy your having gained control of your slip arrangement and price.

I would love to find a similar arrangement in Charlotte Harbor, Keys, or Bahamas as a second homeport and cruising destination.

What is the rental strategy at Riviera Dunes? Do you lease it annually, seasonally, or to transients in order to get the best use/return?

Bruce

Freestyle
1986 62 CPMY (54MY with ext)
Tampa

As for the rental strategy I limit myself a bit wanting the 3 worst months of hurricane season to use myself. Slip is available monthly or transient, whatever works out. Present tenant is interested in working with me for the 3 months I want. Of course it helps out I honored his present arrangement and did not kick him out even though there is a sixty days notice to vacate in these situations.

Also in my slip search I did see a number of slips available in the Key's at reasonable rates. But what not what we wanted. Search this if that is what is desired.

[Eddieclemons]

Thanks for the update, we are definitely looking in that area as well. We plan to come down that way to winter in about another 5 years.

[ian w]

Seems a strange situation where slips cost more than the average Hatteras
Are Hatteri too cheap os slips too expensive?

[cww]

Seems a strange situation where slips cost more than the average Hatteras
Are Hatteri too cheap os slips too expensive?

Over the past 10-15 years this trend of demolishing marinas in order to build condos has exploded in Florida. It's happening constantly now. I think Madhatter's observation is spot on. Basically there's been a delay in the market catching up with this trend, but the chickens are really starting to come home to roost, both in terms of the price of dockage and in terms of that many people are starting to sit on wait lists for years and are lucky to get a slip at any price. This is also starting to show in the prices of deeded slips, 5 years ago a 50 or 60 foot slip was $100k. Demand for deeded slips is picking up because slip rentals are drying up. Interesting times we're about to live/boat in.

As to marinas refusing older boats, that's a rule on the books at a lot of marinas already, but what it really means is they don't want a rundown turd making the place look bad. I don't think anybody would have a problem with any of our boats, judging by most of the HOF members' photos.