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Post by YodaFisherman on Jul 5, 2018 6:12:21 GMT -5
Not sure if this information is accurate or current, but it looks like the Redington Pier is on it's final death spiral under the current owner. A coworker that lives in the area told me it was closed, but did not say a for sale sign was posted. www.loopnet.com/Listing/17490-Gulf-Blvd-Redington-Shores-FL/11706885/I wish I had the investor backing to purchase this thing. Having worked on the Avalon Pier on the Outer Banks through high school and college I know what it takes to make a fishing pier successful. I could make the Redington Pier a successful profit maker in no time. Not sure if the property value is worth $8M, the pier needs to be completely replaced. That would cost about $2M to do it property. I ran a quick business model and would need to average 155 visitors a day with an average of $15 spent on fees, bait, tackle and food sales to make it break even at $10M. |
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Post by tears143 on Jul 5, 2018 6:16:09 GMT -5
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Post by YodaFisherman on Jul 5, 2018 6:18:45 GMT -5
Haven't been online or posted in a while, I figured this may have been covered but didn't find it in my search.
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Post by shadowxmas on Jul 5, 2018 11:15:51 GMT -5
There was an article in the Beach Beacon today that mentions the pier. Go to www.tbnweekly.com and look for the article titled "Redington Shores sewer relining could bring big savings" |
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Post by YodaFisherman on Jul 5, 2018 14:21:54 GMT -5
There was an article in the Beach Beacon today that mentions the pier. Go to www.tbnweekly.com and look for the article titled "Redington Shores sewer relining could bring big savings" Interesting article. I too have been fishing that pier for a over decade. My PB Black Drum was caught off it in 2011. I would hate to see it gone, but the owner has done everything in his power to take it to the brink of nonexistence. I don't know the property values in that area. If the land is not zoned for construction of any other revenue making opportunities, then the asking price of $8M is probable a farce. It is likely an attempt, by the owner, to extort money from the town by trying to get them to purchase it themselves. Again, managed properly it could make good money. I studied and understood the business model of the Avalon Pier in Kitty Hawk, NC. The pricing needs to be such that it looks better than peoples money. Just low enough that they won't go elsewhere. Bait can't cost more than the guy two blocks down the street. Tackle likewise, however the cost of rentals and the simple gear regulars wouldn't purchase should be a little elevated because tourists will spend a bit more for the experience. You need to server food, even if it's just beverages, snacks and microwavable vending machine stuff, but prices need to be in line with the convenience store across the street. If you have a good business selling bait, tackle and food, annual passes become a money maker. The Avalon pier made big bucks just selling coffee to the regulars. The restrooms need to be clean, functional and well stocked. Walk-on visitor passes need to be cheap, very cheap. The point is to get many to walk out and see people catching fish and want to stay. However, I could see it becoming crowded at sunset, so create a sunset time walk-on fee and make a little more for that. Return patrons are where the money is. Not trying to take every visitor for everything they have. I wish I had the means, I would retire from my regular job and move down there to manage that pier with little thought. |
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Post by seabird on Jul 5, 2018 15:47:07 GMT -5
Yodafisherman: great ideas, wish you were a wealthy guy! I told shadowxmas even before I read your post, that a 15 dollar fee for 24 hours would be acceptable. I would go there more often vs skyway....much closer and would save on gas and time. I know that pier features very good fishing, often better than the skyway and ft Desoto.
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Post by YodaFisherman on Jul 5, 2018 18:22:13 GMT -5
Seabird: I too always did better on the Redington pier, albeit no Gags or keeper sized snappers. I would max on Sea Trout, under the lights, almost every night I was there. Live Shrimp and small greenbacks would work like a charm. I always carried my own battery powered drop lights, and some replacement spot bulbs as well. Along the Atlantic Coast, $12 to $15 is the norm from Ocean City MD all the way to Miami. But charging extra for parking or an extra pole is nonsense. Extra to trolley rig off the end is normal though. Another big Money Maker is a gift Shop. When patrons like the pier, they will buy hats and tees. That's advertising they pay you to for, that's a double whammy. Go tp this site and look what Jannette's Pier in Nags Head has become. It's owned by The North Carolina Aquarium, so it has big backing, but the income potential is enormous. It includes a hall for special events and power generators on the pier. It's a great model for a modern fishing pier. www.ncaquariums.com/jennettes-pier |
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Post by ChathamAngler on Nov 12, 2018 9:48:25 GMT -5
I know this is an older post, but did anything ever happen with the Redington Pier?
New to the area (and not wealthy enough to front YodaFisherman the capital), but interested to hear if there have been any new developments.
And Jennettes Pier in NC looks pretty solid
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Post by alaskaguy on Nov 12, 2018 17:11:44 GMT -5
drove past it today and looks to be falling down, it will make space for one more condo  |
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Post by YodaFisherman on Nov 14, 2018 6:20:29 GMT -5
I have spoken to the city officials. They have indicated that the city and state are not willing to change the zoning to have condos built. I do believe that there are some negotiations going on with a developer who wants to build condos, but also rebuild the pier for public use. Not sure how that would look or work.
I've tried to find investors, but have been unsuccessful. I just don't have the contacts in the areas needed and the out of state people I do know aren't williing to get into something they see as too risky due to tropical weather and sea level rise.
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Post by shadowxmas on Nov 15, 2018 12:10:42 GMT -5
I have spoken to the city officials. They have indicated that the city and state are not willing to change the zoning to have condos built. I do believe that there are some negotiations going on with a developer who wants to build condos, but also rebuild the pier for public use. Not sure how that would look or work. I've tried to find investors, but have been unsuccessful. I just don't have the contacts in the areas needed and the out of state people I do know aren't williing to get into something they see as too risky due to tropical weather and sea level rise. YodaFisherman, That would be nice if there are negociations with a developer who would want rebuild the pier for the public. |
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Post by montylfl on Nov 17, 2018 13:47:53 GMT -5
I know this is an older post, but did anything ever happen with the Redington Pier? New to the area (and not wealthy enough to front YodaFisherman the capital), but interested to hear if there have been any new developments. And Jennettes Pier in NC looks pretty solid Try pier 60. Park before the circle and it is much cheaper |
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Post by aussieguy on Dec 14, 2018 8:21:11 GMT -5
saw a recent news story that the county is pushing the owner to demolish the pier
apparently the owner can't afford to repair the damage
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Post by YodaFisherman on Dec 14, 2018 10:06:14 GMT -5
saw a recent news story that the county is pushing the owner to demolish the pier apparently the owner can't afford to repair the damage Anyone who takes position of the property will need to demolish and rebuild the pier, and if they are smart the pier house as well. I'm still trying to find financial support to build a pier similar to Jannette's Pier in Nags Head NC. I have a good business plan and the mayor and council like the idea. The big issue is the cost of the property itself. Due to the zoning it is difficult to determine a fare market value of the property. The once posted asking price by the owner was $8M. That is on par with the value of condo property along the coast. The pier zoning does not currently allow condos, so that valuation is unreasonable. I have tried to follow the same model as Jannette's pier by getting an aquarium or zoo involved. I have been in contact with the Mote Aquarium, Tampa Bay Aquarium and the Clearwater Aquarium. Unfortunately, I can't build much enthusiasm by them to participate in a project like I'm proposing. |
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Post by seabird on Dec 14, 2018 14:51:26 GMT -5
Yodafisherman: Copied one of your paragraphs. I really like your initiative and effort! Too bad that we are not wealthy enough to do something like this. One group you could contact would be the Old Salt fishing group, they have hundreds if not thousands of members and they sponsor Kingfish tourneys here. Good luck on your search!
'Anyone who takes position of the property will need to demolish and rebuild the pier, and if they are smart the pier house as well. I'm still trying to find financial support to build a pier similar to Jannette's Pier in Nags Head NC. I have a good business plan and the mayor and council like the idea.'
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Post by shadowxmas on Dec 14, 2018 15:07:59 GMT -5
Yodafisherman: Copied one of your paragraphs. I really like your initiative and effort! Too bad that we are not wealthy enough to do something like this. One group you could contact would be the Old Salt fishing group, they have hundreds if not thousands of members and they sponsor Kingfish tourneys here. Good luck on your search! 'Anyone who takes position of the property will need to demolish and rebuild the pier, and if they are smart the pier house as well. I'm still trying to find financial support to build a pier similar to Jannette's Pier in Nags Head NC. I have a good business plan and the mayor and council like the idea.' yodafisherman: The website for the Old Salts Fishing Organization is oldsaltfishing.org/ |
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Post by montylfl on Dec 25, 2018 7:37:46 GMT -5
Well looks like you would need a lot more money now. What a shame but that is what happens when your place has a bad reputation and will only cater to s small group of people.
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Post by shadowxmas on Dec 25, 2018 12:53:34 GMT -5
Yodafisherman,
I checked out the website for Jeanette's Pier. It looks like a really nice place.
Have you been to Pier 60 in Clearwater? It it is a nice pier.
There is a new thread " During today's storm." You may have seen it.
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Post by YodaFisherman on Dec 27, 2018 20:02:56 GMT -5
Yodafisherman, I checked out the website for Jeanette's Pier. It looks like a really nice place. Have you been to Pier 60 in Clearwater? It it is a nice pier. There is a new thread " During today's storm." You may have seen it. I have fished Pier 60 and all of the other piers in Florida from the Georgia border all the way around to the Alabama border, including the bridges in the keys. Many of the Atlantic piers are still all wood, and are well maintained. The things Jannette's pier has that no other does are: power generation, banquet hall in the second floor of the pier house, self sufficient waste water treatment and viewing aquariums. Jannetta's pier also has these things that many others have but the Long Pier didn't: hot food service, hot and cold beverages, clean and functional restrooms, reasonably priced bait & tackle, gift shop, free parking and last but not least, courteous employees. |
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Post by sigeptrooper02 on Jan 4, 2019 11:14:35 GMT -5
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Post by Mackerelman on Jan 4, 2019 12:58:06 GMT -5
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Post by ChathamAngler on Jan 4, 2019 14:40:59 GMT -5
Tear it down and stick him with the bill!
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Post by shadowxmas on Jan 4, 2019 15:56:39 GMT -5
Tear it down and stick him with the bill! There is an article in the newest Beach Beacon. Go to www.tbnweekly.com and click on beaches. There also some pictures. |
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Post by seabird on Jan 4, 2019 16:32:38 GMT -5
Tear it down and stick him with the bill! I second that motion and MM's comments! That owner had years and years to fix that pier. Now. he's gonna have a big pain in his wallet |
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Post by Mackerelman on Jan 4, 2019 23:24:38 GMT -5
If the Owner does not Pay to tear it down, the City, County or State can Automatically Seize the Property and just maybe they will Build a New Pier since they don't want to change the Zoning.
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Post by shadowxmas on Jan 5, 2019 1:17:30 GMT -5
MM that will be a ton of money for a new pier and it should be concrete and not wooden due to the beating from storms and cold fronts. That would be nice to have a new pier there in a few years or more. I would think maybe the Coast Guard can be involved as the pier and floating debris cause hazards to navigation.
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Post by Mackerelman on Jan 10, 2019 12:03:50 GMT -5
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Post by YodaFisherman on Jan 16, 2019 13:42:04 GMT -5
Thanks, Mackerelman. I saw that article. I think I'm at the very end of my quest to buy the pier. I had $5.5M in financial backing through three investors (none in Florida, that was an issue). I just couldn't get even one large local investor interested. Also, the owner's bank insists the property is worth $8M, even though that valuation is based on the development of condos, even though they are not allowed on the current zoning. With my assessment of $2.50M to completely remove the current pier and pier house, clean up all the fishing gear from the surrounding area and then completely rebuild a new concrete and wood pier house, pier and resurface the parking lot, the total would cost about $10.5M. The business plan I developed just can't support a $10.5M investment. Especially with a loan for $5M holding it back. I think the issue is that the bank overextended loans on the property and will loose their butts if they sell for the property's value based on a single business and not condos. |
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Post by Mackerelman on Jan 20, 2019 20:10:44 GMT -5
Thanks, Mackerelman. I saw that article. I think I'm at the very end of my quest to buy the pier. I had $5.5M in financial backing through three investors (none in Florida, that was an issue). I just couldn't get even one large local investor interested. Also, the owner's bank insists the property is worth $8M, even though that valuation is based on the development of condos, even though they are not allowed on the current zoning. With my assessment of $2.50M to completely remove the current pier and pier house, clean up all the fishing gear from the surrounding area and then completely rebuild a new concrete and wood pier house, pier and resurface the parking lot, the total would cost about $10.5M. The business plan I developed just can't support a $10.5M investment. Especially with a loan for $5M holding it back. I think the issue is that the bank overextended loans on the property and will loose their butts if they sell for the property's value based on a single business and not condos. I Totally Agree ! They may also be afraid of a New Pier going out to Sea. |
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