America's Paradise Resort & Marina
Map location
1024 Paradise Dr. , Murray, KY 42071
Details
Description
FOR SALE - OFFERS BEING ACCEPTED NOW
AMERICA’S PARADISE RESORT - ON KENTUCKY LAKE
1024 Paradise Dr. Murray KY 42071
OPEN AND OPERATING
Picturesque secluded resort with pool and development opportunity. If you’re an investor then take a look at the gross and net income, ROI and tremendous upside growth potential and property enhancements. If you are an owner/operator you now have a tremendous opportunity to enhance upon what we’ve been doing right and continue to improve upon our customer satisfaction ratings. Create upside potential by adding condos and cottages to increase your revenue base.
Currently there are 15 rental units that will accommodate up to 116 guests.
7.3 acres with RARE five acre permanent easement to Kentucky Lake.
Marina - offers gas, slip rentals and 3 pontoon boat rentals included in sale
Docks - 30 slips, 28 covered and 4 are uncovered. Plans call for 32 additional slips and doubling size of marina.
https://paradiseresortkylake.com/
This is a great pandemic proof investment as income has grown by almost $40,000 over 2019.
Inspection period: Call to View.
REGISTER on the website www.theexchangeusa.com to view and download all due diligence materials including the property financials. Make your offer, on the webpage to the right at EXOffers or email joe@theexchangeusa.com for a private offer.
Additional sources of Income potential:
- The option to add 10 more condominiums to the property producing 100 more guests.
- The option to double the size of the marina dock. Doubling marina income.
- The option to add an RV park to the property with 41 RV spaces at $1,000 per month/space.
- New dock planned with additional 28 slips @ $20/day/slip
- Jet ski – ski boat – house boat rentals $50-$100 per 4 hour rental.
- Lease vacant slips
We found a number of restrictions on title from a previous owner (Valerie and Mark Fredrick) whose residence is to the west of the subject property. Please review the supporting title documents in detail (SP-Exceptions 12_413_606) included in the link below. Here is a summary:
- Perpetual, assignable, transferable easement to the boat ramp.
- Right to use a covered boat slip 22'x21' (deed says 1 singular slip but lists "4-5" and we are told they are using slips 9-10)
- Perpetual, assignable, transferable right to view KY Lake easement.
- Camping, such as tents, movable trailers and temporary dwellings are prohibited.
- Furnish potable water from its water well
Title search Supporting documents
Thomas J Karras, KY Broker (tomkarras@gmail.com)
www.theexchangeusa.com
