Marina market rate comparison for Soper’s Hole in St. Thomas

Marina Market Analysis 35 Of the comparable marinas in St. Thomas, Yacht Haven Grande is the most superior in terms of location, quality and amenities. This marina is typically geared to extremely large vessels such as mega-yachts. Crown Bay Marina is slightly inferior to Yacht Haven Grande, but is still superior to the subject in quality and amenities. Sapphire Beach Resort, Compass Point and Oasis Cove are all considered to be inferior marinas to the subject based on location, quality and amenities offered. These marinas mostly cater to live-aboards and smaller vessels. The most comparable properties are located in the British Virgin Islands (BVI). Nany Cay and Virgin Gorda Yacht Harbor are slightly superior to Soper’s Hole, but they are all similar in quality and amenities as the subject property. The location of the subject in St. Thomas, and its specific location within St. Thomas, is considered superior based on convenience. The majority of the subject’s wet slips (98 out of 105) allow for vessels less than 80’. In this size range, the comparable marinas in St. Thomas range from $199.32 - $1,314 with an average of $578.38 per linear foot. The comparable marinas in the BVI range from $419.75 - $912.50 with an average of $587.65 per linear foot in this size range. The subject’s asking rates for this size vessel averages approximately $565.75, which is slightly below average but reasonable. IGY American Yacht Harbor Marina HOUSE_OVERSIGHT_018846