Whidden’s Marina listed for $17.5 million

Legacy property on island

Boca Grande Real Estate has listed the historic Whidden’s Marina, one of Boca Grande’s oldest marinas, for $17.5 million. 

This waterfront property is situated on 0.94 acres of land with all docks and slips (both wet and dry), multiple structures and buildings. It is zoned as marina commercial.

“The Whiddens have five generations of legacy on that property,” said Mark Spurgeon, of Boca Grande Real Estate. “We feel honored to help the family in transitioning this long-time legacy to a new life, and new ventures.”

Whidden’s Marina on First Street East was founded by Sam Whidden in 1926 and has been run by the Whidden family ever since. In those days, Whidden’s was also a well-known Boca Grande night spot, dance hall and restaurant. It is home to the Gasparilla Island Maritime Museum, a separately incorporated non-profit. They operate on a lease from Whidden’s.

The marina is listed individually on the National Register of Historic Places and is part of the county-administered Boca Grande Historic District. 

Update on Eldred’s

It is not the only marina serving Boca Grande that is on the market. 

The 12-acre Eldred’s Marina in Placida is still on the market, and is now one of two legacy marinas for sale here. Michael Fay, Chairman of the U.S. Capital Markets Group of Avison Young in Miami, said that the contract on the property had fallen through. 

At the time, there was a reported $40 million asking price for the property. The contract was reported in the summer of 2024, just before the hurricanes, when it appeared as “under contract” on Loopnet and other property databases. 

Since the fall hurricanes, offers have continued to arrive for Eldred’s, but they have not been deemed sufficient.

“We have had a lot of lowball offers, in the $20 million range,” Fay said. “The sellers are not selling for that.”

In general, the first part of the year is good for commercial property sales, as there is a lot of new capital allocation after the first of the year. A previous drop in interest rates and the certainty of a political election finished makes for an easier market.

Fay said that he had heard about the potential sale of Whidden’s Marina, and he feels confident about finding a buyer for Eldred’s, and the overall market.

“We have had a great response,” Fay said. “Right now, we are widening the cast net and going out to market.”