NET LEASED RETAIL plus DEVELOPMENT OPPORTUNITY $3,000, Bayshore Dr. NAPLES, FL

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1 NET LEASED RETAIL plus DEVELOPMENT OPPORTUNITY $3,000, Bayshore Dr. NAPLES, FL

2 Confidentiality & Disclaimer The information contained in this Offering Memorandum is proprietary. It is intended only to be viewed by the party receiving it from Re/Max Commercial Distinction, hereafter called Re/Max Commercial, and is otherwise expressly confidential. This Memorandum shall not be made available to any other person or entity without the prior written consent of Re/Max Commercial. The information herein has been prepared as a summary for the purposes of generating a preliminary interest in the subject property and is not a substitute for a thorough Due Diligence investigation. Furthermore, the information herein shall not be considered a warranty of any kind. Though the data presented has been obtained from sources we believe to be reliable, all potential buyers must take appropriate measures to verify any and all of the information set forth herein. Tiffany Luongo Dir. of Commercial RE/MAX COMMERCIAL Distinction 8800 Bernwood Pkwy Bonita Springs, FL c f Tiffany@TiffanyLuongo.com

3 Naples Facts 1. Collier County, which includes the cities of Naples, Marco Island and Everglades City, is the largest county in the state with a total area of 2,305 square miles, and a land area of 2,025 square miles. At least 80% of that is set aside as preserve lands, including Big Cypress National Preserve, Everglades National Park, two national wildlife refuges, one national research reserve, three state parks, one state forest and many county, city and private parks and nature preserves. 2. Naples has 4 exits off of I-75: Exit 111: Immokalee Rd. Exit 107: Pine Ridge Rd. (CR 896) Exit 105: Golden Gate Pkwy (CR 886) Exit 101: Collier Blvd. (CR 951) 3. Naples (not including East Naples) has an area of approximately 14.4 square miles 4. Naples has the sixth highest per capita income in America (US Census), with the second highest proportion of millionaires per capita in the U.S. 5. The Naples Pier was built in 1888, when the City was only accessible by water 6. The average temperature in Naples is 75 degrees. 7. In 2005, Naples was designated by the Travel Channel as having the Best All- Around Beach in America, and in 2006, Conde Nast Magazine named Naples on its Top 20 list of Best Beaches in America. 8. There are at least 134 art galleries in the Greater Naples Area. 9. Naples has the most golf holes per capita in the country. 10. The East-West portion of U.S. 41 was largely made possible by the investments of New York tycoon Barron G. Collier, who offered to bankroll the completion of the project after the State of Florida ran out of funding in In exchange, the State carved Collier County out of a large portion of southern

4 Location: Naples, FL Naples

5 Location: Subject Property INSET MAP SUBJECT

6 Location: Subject Property US 41 aka Tamiami Tr. E Gulf Gate Plaza Bayshore Weeks The Subject property is located off of busy US41 just adjacent to Gulf Gate Plaza, which is a community shopping center comprising of over 205,000 square feet of retail. Traffic Count on US41: Traffic Count on Bayshore: 38,318 ave Cars per day 10,760 ave Cars per day

7 The Property View from Bayshore looking West

8 The Property

9 The Property Future Development Additional Parking Two twin buildings totaling 17,472 sf on a parcel of 3.3 Acres in the heart of Naples. The site is just a few blocks from the Naples government district off Airport Pulling Rd. The property was originally designed for a mirror image of the buildings on the West side and water retention is already accounted for based on this design. However, the additional land could support multiple use options. The property is currently 50% leased and all the leases are structured such that a new owner would have the option to cancel them with 180-day notice. THE UPSIDE: Average rents in the plaza: Average rents in the area: $6 NNN $15 NNN Vacancy in the Plaza: 50% Vacancy in the Area: 8%

10 Demographic Summary

11 Property Data SITE: 2740 Bayshore Dr., Naples FL SF: 17,472 sf Free-Standing PARCEL: 3.3 +/- acres Developable Area: /- acres Currently Approved for: Approved for 17,472sf as zoned ZONING: C-4 STORIES: 1 OWNERSHIP: Fee Simple ASSESSOR s PARCEL #: YEAR BUILT: 1984 FOUNDATION: Concrete FRAMING: Block EXTERIOR: Block PARKING SURFACE: Asphalt ROOF: Flat Wood Truss New on Both Buildings in Year Warranty PARKING SPACES: 169 HVAC: FIRE PROTECTION: UTILITIES: INTERIOR WALLS: CEILING: Individual Heat & Air for each Unit Firewalls Water - City Sewer - County Wall Board Drop

12 Tenant Data SITE: 2740 Bayshore Dr., Naples FL TENANTS: 1) Vacant 2) Hair Salon 3) Church - Can only meet after 6pm and Sundays 4) Hispanic Health Food Store 5) Hispanic Trade School for LPN License 6) Vacant 7) Vacant 8) Vacant 9) Vacant 10) Cosmetics 11) Vacant 12) Employment Agency 13) Vacant 14) Vacant 15) Vacant 16) Substance Abuse Counseling for Youth 17) Vacant 18) CPA LEASE TERMS : Can terminate with 180-day notice OPTION INCREASES: N/A TYPE OF LEASE: Mod Gros, includes Sales Tax PERSONAL GUARANTEE: Yes

13 Financial Data SITE: 2740 Bayshore Dr., Naples FL CURRENT NOI: $10,944/unit/year Mod Gross Including tax = $12 psf MG = Approx. $5.95 psf NNN At 50% Occupancy (8,736 sf) x $5.95 NNN = $51, SALES PRICE: $3,00, CAP RATE: 1.7%** PRICE PER SQ FT: $ PROPERTY TAXES: $11, **If you subtract a value for the lot from the sales price of $1,000,000 then the current CAP would be 2.6% with an enormous up-side. Under this same scenario, were you to lease up the rest of the space at less than market ($12psf NNN) and bring the current rents up to that same number, then the CAP would be 10.5%.