Fisherman's Wharf Marina/ Marker 4 Restaurant Venice,FL For Sale Subject To Offer Offering Highlights 57 wet slips (30+ are new) Well known waterfront restaurant + ship store, repair facility, etc 3.485 AC of uplands can support add'l development Approx. 4'-5' water depth in basin Gail Bowden Senior Investment Advisor 941.223.1525 gail.bowden@svn.com FL #SL3044621 Larry Starr Executive Director 941.387.1200 larry.starr@svn.com FL #303911 Direct frontage on ICW
For Sale Special Purpose Fisherman's Wharf Marina/ Marker 4 Restaurant 509-611 Tamiami Trail N Venice, FL 34285 Investment Overview Sale Price: Subject To Offer Lot Size: 3.485 Upland Acres Building Size: 13,400 SF Zoning: CI, Commercial Intensive, City of Venice Future Land Use Northern Gateway Sub Market: Venice Cross Streets: S Port Dr & Tamiami Trl Property Overview Property Location Pertinent Data Tremendous future development potential in this prime marina property! 3.485 upland acres zoned CI (Commercial Intensive) by the City of Venice improved with several buildings including well-known Marker 4 waterfront restaurant, a ship store/dive shop building, and a warehouse/retail building leased to Gulf Liner Marine and used for marine service/repair. The property also includes floating and fixed docks for 57 boats situated on 3.683 acres of submerged bottoms owned in fee simple. The floating docks are nearly new and the average slip size is 52'. The upland area will accommodate future development of a dry storage facility or other compatible uses under current zoning. Rezone potential for mixed use residential condo or hotel use as well. Many possibilities! W side of Tamiami Trail at the Inter-Coastal Waterway, just before entering onto the island of Venice Current income + future upside! (income data pending) Fueling station with new double-wall tanks Restaurant currently undergoing renovation Gateway property for City of Venice Presented by GAIL BOWDEN 941.223.1525 gail.bowden@svn.com FL #SL3044621 LARRY STARR 941.387.1200 larry.starr@svn.com FL #303911 2
CONFIDENTIAL OFFERING MEMORANDUM Location Maps 3
CONFIDENTIAL OFFERING MEMORANDUM Financial Summary 509-611 Tamiami Trail N Venice, FL 34285 For Sale Subject To Offer Investment Overview Pro Forma Price $$TBD Price per SF CAP Rate Cash-on-Cash Return (yr 1) Total Return (yr 1) Debt Coverage Ratio - Operating Data Gross Scheduled Income $1,646,000 Other Income - Total Scheduled Income $1,646,000 Vacancy Cost $164,600 Gross Income $1,481,400 Operating Expenses $365,000 Net Operating Income $1,116,400 Pre-Tax Cash Flow $1,116,400 Financing Data Down Payment Loan Amount Debt Service Debt Service Monthly Principal Reduction (yr 1) N/A N/A N/A N/A N/A >>>>>>> Enter Notes or Comments 4
CONFIDENTIAL OFFERING MEMORANDUM Income & Expenses 509-611 Tamiami Trail N Venice, FL 34285 For Sale Subject To Offer Income Summary Pro Forma Slip Rentals $410,400 Ship Store/Gift Shop Rent (2,000 sf @$15/sf NNN) $100,000 Gulfwind Marine Rent ($5,000/mo gross) $60,000 Dive Shop/Charter/Jet Ski Rent ($2,300/mo gross) $27,600 Fuel Sales Income $400,000 Restaurant/Tiki Bar (net income, est) $600,000 Self Storage $48,000 GROSS INCOME $1,646,000 Expenses Summary Property Taxes $55,000 Insurance $20,000 Wages (dockmaster, maintenance, bookkeeping) $120,000 Maintenance Allow. $20,000 Owner/Manager Salary $100,000 Utilities $50,000 GROSS EXPENSES $365,000 Net Operating Income $1,116,400 >>>>>>> Enter Notes or Comments 5
CONFIDENTIAL OFFERING MEMORANDUM Additional Photos 6
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CONFIDENTIAL OFFERING MEMORANDUM Advisor Bio & Contact 1 Gail Bowden Senior Investment Advisor SVN Commercial Advisory Group Gail Bowden Senior Investment Advisor FL #SL3044621 Phone: 941.223.1525 Fax: 941.387.2160 Cell: 941.223.1525 Email: gail.bowden@svn.com Address: 1626 Ringling Boulevard, Suite 500 Sarasota, FL 34236 Gail Bowden, Senior Investment Advisor with the SVN Commercial Advisory Group brings a unique blend of strategic creativity and expertise to the SVN team. Drawing on more than thirty years of experience, Gail is well known for her business ingenuity and ability to navigate the complexities of venture capital, project finance, construction, and development. Her project list is extensive as well as her list of accomplishments as an expert and industry leader. Ms. Bowden ranks #3 of SVN's commercial real estate advisors worldwide, and #1 in Florida for 2015. Gail achieved one of SVN s most prestigious honors Partners Circle in 2015 and 2014. She also achieved several of SVN s most esteemed honors in 2015, including her fourth Top Commercial Real Estate Advisor of the Year, Top Producer and Top Sale Transaction awards. Gail, passionate about travel, has developed and cultivated long-standing relationships with real estate and development professionals all over the world. Ms. Bowden is well-known for closing complex and varied commercial investment projects, specializing in Medical Office and Industrial properties from $500,000 to $60 million +. Gail s propensity for guiding clients to appropriate financing coupled with her skill for identifying the most suitable investors for each deal, has contributed to her career sales total of over $200 million. From contract to closing, Gail handles each client with exceptional care, ensuring that every element of a transaction is presented in a clear and logical manner. Known for thorough research, stamina, and patience, Gail s ability to communicate clearly with all sides in any negotiation has established her as a true professional in the field. Originally, from Utah where she attended the University of Utah, Gail graduated with a B.A. in Business Administration. Since moving to Sarasota over fourteen years ago, Gail has become an active member of the community and has established herself as an expert in commercial real estate sales & investment. Gail is a volunteer and auxiliary member of SPARCC (Safe Place & Rape Crisis Center) and also volunteers her time and expertise to Habitat for Humanity. Gail has a daughter, son-in-law and two grandchildren 10
CONFIDENTIAL OFFERING MEMORANDUM Advisor Bio & Contact 2 Larry Starr Executive Director SVN Commercial Advisory Group Larry Starr serves as Executive Director for SVN Commercial Advisory Group, specializing in the forward movement of commercial real estate deals for clients who include buyers and sellers of all commercial property types. Starr also specializes in land and development projects along with hospitality based assets in the West Coast Florida markets of Sarasota, Manatee and Charlotte Counties. Larry Starr Executive Director FL #303911 Phone: 941.387.1200 Fax: 941.387.2160 Email: larry.starr@svn.com Address: 1626 Ringling Boulevard, Suite 500 Sarasota, FL 34236 With 25 plus years of residential and commercial real estate experience, Starr has achieved a career sales volume in excess of $75 million. Starr also currently serves as President of Resort Vacation Accommodations, the largest vacation rental service in the region. Prior to joining SVN, Starr served as President of ResortQuest Southwest Florida, on Longboat Key, where he expanded this real estate, property management, and vacation rental business to more than 1200 properties and over 100,000 guests. Previously, Starr served as President of Florida Vacation Accommodations where he was responsible for design, site plan approval, construction and sales, and where he successfully developed a number of resort communities on Bradenton Beach, Longboat Key, Siesta Key, Anna Maria Island and Sarasota. Starr is a prior member of the Board of Directors and Grant Panel Chairman of the Sarasota County Arts Council. Starr has also held volunteer positions at the Sarasota Convention and Visitor s Bureau. As past President and board member, he served as Chairman of the bureau s Advertising Committee as well. When not involved in developing business opportunities or participating in community obligations, Starr and his daughter spend their free time enjoying island life just as much as his 11