Marina Market Analysis 30 - marina sales have indicated that now is a good time to invest in a marina, despite the previous recession and limited financing. : Competitive Marinas | The most significant supply and demand indicators for the subject are rental and occupancy rates experienced by directly competing properties. The operation of a pleasure craft marina provides : revenue sources which include a mix of various rental, sales and services for the pleasure craft : operators. Principle revenue stream for pleasure craft marinas includes in-water slips, fue! sales, and : building rent. : The subject’s asking and average contract rates are shown in the table that follows. The current operator is leasing the marina slips by linear feet of vessel length. We have then converted this rental . income into a rental rate per linear foot of dock space. The subject offers slip rental on a daily, weekly, monthly, seasonal and annual basis. The contracted rental rates represent a blend of these rates, from : daily tenants to long term tenants on annual leases. According to management, approximately 60% of ; the occupants at any given time are seasonal or annual tenants. ; Marina Rent Roll : Total Annual Average : #of Average LF Annual LF Total LF Occupancy Total Rental Monthly Rental s Year Slips per Slip Available Occupied Rate Revenue Rate/LF 2010 105 53.29 2,042,170 1,379,235 67.5% $1,551,721 $34.22 j 2011 105 53.18 2,038,110 1,298,157 63.7% $1,490,744 $34.93 : 2012 105 54.24 2,078,880 1,155,377 55.6% $1,290,526 $33.97 2013 105 54.10 2,073,200 1,206,388 58.2% $1,362,951 $34.36 . 2014 105 54.10 2,073,200 1,233,672 59.5% $1,513,100 $37.31 : 2015 (Annualized) 105 54.10 2,073,200 1,172,976 56.6% $1,438,110 $37.29 ‘ Average 105 54 2,063,127 1,240,968 60.1% $1,441,192 $35.35 : We weren’t provided with a current rent roll for the marina slips but we were provided with monthly : historical occupancy and rental rate data. With the transient nature of marin