Olde Fish House Marina sells for $1.9M

BUYER: JRM LLC, Matlacha

SELLER: Olde Fish House Marina LLC

PROPERTY: 4520 and 4530 Pine Island Road N.W., Matlacha

PRICE: $1.9 million

PREVIOUS PRICE: $1.5 million, May 2004

TITLE FIRM ON DEED: Fidelity National Title of Florida Inc., Fort Myers

PLANS, DESCRIPTION: Local investment group JRM LLC purchased the Olde Fish House Marina for $1.9 million.

The property includes 5,166 square feet of marina buildings with a convenience store, bait shop, office, take-out restaurant and fish store. The acquisition also included 31 boat slips and a nearby 1,539-square-foot single-family home. One parcel of the property is zoned commercial tourist and the second is zoned for industrial light marine.

Michael D. Hamilton of The Commercial Division of Michael Saunders & Co.'s Punta Gorda office represented the seller.

“It was built in the '50s and maintained that type of appearance,” Hamilton says. “For its age it was in good shape. The new owners bought it with plans to increase the entertainment at the location. They also want to expand the restaurant's capabilities. The store did a phenomenal amount of volume.”