WATERFRONT INCOME PRODUCING DEVELOPMENT OPPORTUNITY

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1 WATERFRONT INCOME PRODUCING DEVELOPMENT OPPORTUNITY N. CAUSEWAY DRIVE FORT PIERCE, FL Robert Hamman Senior Advisor David Kendall Senior Advisor Ashley Bloom National Land & Development Services Product Council Chairman SVN FLORIDA COMMERCIAL REAL ESTATE ADVISORS 810 SATURN STREET, #24, JUPITER, FL

2 Property Summary OFFERING SUMMARY Sale Price: $6,900,000 NOI: $325,000 CAP Rate: 4.71% Lot Size: 8.41± Acres PROPERTY OVERVIEW Newly Priced! Reduced from $7,950,000. SVN has listed this Single Tenant, Income Producing, Spectacular Marina site located at the base of the N. Causeway Drive bridge, which connects the barrier island of North Hutchinson Island, to the City of Fort Pierce. This property is approved for a project known as Blue Harbour, which includes 145 condos and 42 deep water slips. The seawall was recently replaced, and the marina was dredged in This is a great opportunity for an investor or developer looking for a waterfront opportunity. *Additional income-producing property is located on the southwest corner of the quadrant. 4 bay Commercial Building encompassing 2,408 sq feet. Zoned General Commercial for Office or Retail Use. The entire building is currently rented to one tenant for $1,565 per month, plus $533 CAM. Tenant renews on six month increments. This 0.35± acre property is offered for $480,000 by Coldwell Banker Commercial. Building One Size: Building Two Size: Zoning: 5,710± SF 4,095± SF C6 -FP Marine Commercial PROPERTY HIGHLIGHTS Leased by single-tenant that generates substantial income with a built-in kick out clause Development Opportunity - Approved 145 unit condominium project, or expand the boatyard Robust boating market...ideal location to expand marina for boat storage and/or service The corner piece is now available for sale to complete this site WATERFRONT INCOME PRODUCING DEVELOPMENT OPPORTUNITY N. CAUSEWAY DRIVE FORT PIERCE, FL SVN Florida Commercial Real Estate Advisors Page 2

3 Financial Summary INVESTMENT OVERVIEW Price $6,900,000 Price per SF $ CAP Rate 4.71% OPERATING DATA Net Operating Income $325,000 WATERFRONT INCOME PRODUCING DEVELOPMENT OPPORTUNITY N. CAUSEWAY DRIVE FORT PIERCE, FL SVN Florida Commercial Real Estate Advisors Page 3

4 Approved Blue Harbour Development *ADDITIONAL 0.35± ACRE INCOME-PRODUCING PROPERTY BEING OFFERED BY COLDWELL BANKER COMMERCIAL FOR $480,000 WATERFRONT INCOME PRODUCING DEVELOPMENT OPPORTUNITY N. CAUSEWAY DRIVE FORT PIERCE, FL SVN Florida Commercial Real Estate Advisors Page 4

5 Approved Blue Harbour Development Blue Harbour Rendering Blue Harbour Rendering WATERFRONT INCOME PRODUCING DEVELOPMENT OPPORTUNITY N. CAUSEWAY DRIVE FORT PIERCE, FL SVN Florida Commercial Real Estate Advisors Page 5

6 Blue Harbour Site Plan WATERFRONT INCOME PRODUCING DEVELOPMENT OPPORTUNITY N. CAUSEWAY DRIVE FORT PIERCE, FL SVN Florida Commercial Real Estate Advisors Page 6

7 Regional Map WATERFRONT INCOME PRODUCING DEVELOPMENT OPPORTUNITY N. CAUSEWAY DRIVE FORT PIERCE, FL SVN Florida Commercial Real Estate Advisors Page 7

8 Demographics Report 1 MILE 3 MILES 5 MILES Total population 4,052 31,877 61,151 Median age Median age (male) Median age (female) Total households 1,591 11,100 21,629 Total persons per HH Average HH income $36,734 $41,474 $46,442 Average house value $197,987 $226,077 $215,122 Total Population - White 1,436 11,359 30,362 % White 35.4% 35.6% 49.7% Total Population - Black 2,554 19,203 26,662 % Black 63.0% 60.2% 43.6% Total Population - Asian % Asian 0.0% 0.2% 0.5% Total Population - Hawaiian % Hawaiian 0.0% 0.0% 0.0% Total Population - American Indian % American Indian 0.0% 0.1% 0.8% Total Population - Other ,336 % Other 0.3% 2.3% 3.8% Total Population - Hispanic 403 4,824 11,423 % Hispanic 9.9% 15.1% 18.7% * Demographic data derived from 2010 US Census WATERFRONT INCOME PRODUCING DEVELOPMENT OPPORTUNITY N. CAUSEWAY DRIVE FORT PIERCE, FL SVN Florida Commercial Real Estate Advisors Page 8

9 Demographics Map POPULATION 1 MILE 3 MILES 5 MILES Total population 4,052 31,877 61,151 Median age Median age (male) Median age (Female) HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES Total households 1,591 11,100 21,629 # of persons per HH Average HH income $36,734 $41,474 $46,442 Average house value $197,987 $226,077 $215,122 * Demographic data derived from 2010 US Census WATERFRONT INCOME PRODUCING DEVELOPMENT OPPORTUNITY N. CAUSEWAY DRIVE FORT PIERCE, FL SVN Florida Commercial Real Estate Advisors Page 9