Marina was redeveloped in 1998, and is currently under contract to sell.  Appraisal estimates the Market Value of the leased fee interest in the subject, and the leasehold interest in the adjacent aquatic land, which is leased from the Washington State DNR.  The subject also includes an easement interest in portions of the adjacent upland facilities.

Portion of the Skyline Marina, which is unique in that there is no DNR lease associated with the submerged land.  This is a positive factor compared to most marinas which must lease the aquatic lands under their facilities from the DNR.  Valuation relies primarily on the Sale Comparison and Income Approaches.

Property consists of 1,199 slips of the total 1,211 slips which make up the Elliott Bay Marina, situated along the south shore of Magnolia Bluff on Puget Sound in Seattle, Washington.  Marina includes open moorage, a gas dock, and several upland buildings including three restaurants and retail/office space.