Urban Infill Development Site Poinsettia Ridge Fort Lauderdale, FL
table of contents Limitations and Disclaimer... 3 Terms & Conditions... 3 Highlights... 4 Property Information... 5 Property Location... 5 Property Description... 5 Proposed Project.... 5 The Neighborhood... 5 Future Land Use... 5 Zoning... 5 Asset Summary... 5 Zoning Map... 6 Price... 6 Nearby Residential Development.... 7 Site Plan.... 8 Topographic Survey... 9 Maps & Aerials... 10-11 Demographics...12 Contact Information... 14 2
Limitations and Disclaimers This report is considered to be Confidential Information concerning Poinsettia Ridge Estate LLC s (the Seller ) asset in Fort Lauderdale, Florida. This document has been directly delivered by Realty Masters Advisors, LLC ( Realty Masters or Broker ) to interested parties for their sole use in evaluating a transaction with the Seller. Use of this information for other purposes or distribution (all or in part) of this information to other parties is prohibited without prior written consent of Realty Masters and the Seller. This Confidential Information is not to be disclosed, directly or indirectly, to any third party, except the following persons as necessary to assist you in evaluating any proposed transaction: (a) your employees, officers and directors; (b) your agents and representatives, including attorneys, accountants, financial advisors and other professional advisors and consultants who need to know such information for the purpose of evaluating such possible transaction and (c) applicable regulatory agencies having the jurisdiction over you ((a), (b), and (c) individually, a Permitted Party and collectively, the Permitted Parties ). Provided, however, that before providing the Confidential Information to any Permitted Party, you shall inform such Permitted Party of the confidential nature of this information. No representation or warranty, express or implied, is made as to the accuracy of the information set forth herein. Any party seeking to enter into a transaction with the Seller is responsible for completing appropriate due diligence as they shall determine. Terms & Conditions The Seller has engaged Realty Masters Advisors, LLC ( Realty Masters ) to serve as the exclusive real estate broker to market and receive offers on the property. All offers should be made subject to the Limitations and Disclaimers, as well as, but not limited to, consideration of the following assumptions: All sales are As-Is. Buyers are strongly encouraged to complete their own due diligence related to but not limited to, the value, condition and status of the asset. The Seller will deliver free and clear title to the property. Realty Masters and the Seller make no representation as to the description, condition, or suitability of the property. The property described in this document may not be available for sale due to the Seller s negotiations with buyers. Neither the Seller nor Realty Masters are required to update this document to reflect such changes. 3
Highlights Superb East Fort Lauderdale location with excellent proximity to shopping, dining and entertainment Two parcels: The southern site was previously approved for 10 townhomes and the northern site was conceptually designed for 16 townhomes Eastern Broward County has seen significant increase in residential demand and urban development opportunities are becoming scarce The sites are located on the border of two very desirable East Lauderdale neighborhoods: Poinsettia Heights and Lake Ridge with great access to Federal Highway, Downtown Fort Lauderdale and the Beaches Spillover from Downtown Fort Lauderdale and Victoria Park make this area very appealing to Urban residents Price: $2,300,000 4
Property Information Property Location Located at the corner of NE 18th Avenue and NE 13th St, Ft Lauderdale There is a (+/-51,000 SF) site on the north side of 13th Street that is comprised of 2 parcels The site across the street is (+/-31,000) SF on the SW corner of NE 13th St and NE 18th Ave Property Description Both subject sites are mostly rectangular and located across the street (NE 13th Street) from each other in East Fort Lauderdale, approximately one block west of Federal Highway. The sites are currently vacant and appear to be at grade with utilities to the site. The only structure on the premises is a vacant (+/- 1,200SF) building at the NW corner of the property Proposed Project The southern parcel was previously approved for 10 townhome residences. The larger northern site was not approved, but was conceptually layed out with 16 townhomes and the amenity pool. The Neighborhood The property straddles the desirable neighborhoods of both Poinsettia Heights and Lake Ridge They are bordered by Victoria Park to the South, Bayview to the East, and Wilton Manors to the North The area is predominantly residential with all commercial and retail in close proximity Future Land Use 37 (Medium Residential-16) - Allows for 16 units per acre 40 (Community Facility) - The parcel abutting the school is under this code Zoning The property is currently zoned RC-15 - Allows for 15 residential units per acre Asset Summary Address NE 13th Street and NE 18th Avenue Site Size 1.88 Acres Density 26 units Future Land Use 37 (Medium Residential 16) Zoning RC-15 (Medium Residential 15 Units Per Acre) Lot Size 464 x 110 and 135 x 230 Status Approvals have expired Parcel ID See above Price $2,300,000 5
zoning map Parcel ID # Parcel 1: 13,183 SF 4942.35.60.0010 Parcel 2: 37,785 SF 4942.35.23.0280 Parcel 3: 31,027 SF 4942.35.22.0470 TOTAL: 81,995 SF Asking Price: $2,300,000 2013 Taxes Parcel 1: $2,863 Parcel 2: $5,071 Parcel 3: $3,137 6
Booming Residential Development Nearby 1 RIVA 100 waterfront condominiums 2 Galleria Pointe 44 townhomes and flats 3 Victoria Commons 11 flats 4 The Village at Victoria Park 30 cluster homes 5 Elan 1640 261 apartments 6 Paramount Residences 90 luxury beachfront condominiums 7 Privage 22 luxury Intracoastal condominiums 8 Adagio 20 luxury Intracoastal condominiums 9 The Morgan at Flagler Village 390 apartments 10 The Edge at Flagler Village 331 apartments 11 Galleria Mall proposed condos 1600 condominiums 7
previously proposed/conceptual Site Plan 8
Survey 9
MAPS & AERIALS 10
MAPS & AERIALS 11
Demographics Radius 1 Mile 3 Mile 5 Mile Population 2019 Projection 17,577 137,103 283,088 2014 Estimate 16,454 125,777 261,631 2010 Census 16,305 116,166 248,117 Growth 2014-2019 6.83% 9.00% 8.20% Growth 2010-2014 0.91% 8.27% 5.45% 2014 Population by Hispanic Origin 2,216 15,587 37,174 2014 Population by Race 16,454 125,777 261,631 White 13,472 81.88% 86,687 68.92% 160,358 61.29% Black 2,227 13.53% 34,651 27.55% 91,838 35.10% Am. Indian & Alaskan 63 0.04% 407 0.32% 813 0.31% Asian 421 2.56% 2,098 1.67% 4,372 1.67% Hawaiian & Pacific Island 13 0.08% 117 0.09% 224 0.09% Other 259 1.57% 1,817 1.44% 4,026 1.54% Households 2019 Projection 9,213 65,753 124,595 2014 Estimate 8,706 60,414 115,344 2010 Census 8,898 56,123 110,050 Growth 2014-2019 5.82% 8.84% 8.02% Growth 2010-2014 -5.85% -1.54% -1.71% Owner Occupied 3,900 44.80% 31,570 52.26% 64,244 55.70% Renter Occupied 4,805 55.19% 28,844 47.74% 51,100 44.30% 2014 Households by HH Income 8,705 60,415 115,344 Income: <$25,000 2,155 24.76% 16,021 26.52% 30,440 26.39% Income: $25,000 - $50,000 2,125 24.41% 14,923 24.70% 30,400 26.36% Income: $50,000 - $75,000 1,244 14.29% 9,377 15.52% 19,145 16.60% Income: $75,000 - $100,000 838 9.63% 5,763 9.54% 11,120 9.64% Income: $100,000 - $125,000 655 7.52% 4,828 7.99% 8,669 7.52% Income: $125,000 - $150,000 352 4.04% 2,370 3.92% 4,597 3.99% Income: $150,000 - $200,000 558 6.41% 3,016 4.99% 4,980 4.32% Income: $200,000+ 778 8.94% 4,117 6.81% 5,993 5.20% 2014 Avg Household Income $82,712 $75.03 $69,798 2014 Med Household Income $51,358 $48,493 $46,907 *CoStar 2014 12
VISION FOCUS Considering Selling Real Estate In Florida? (or know someone who is) RESULTS Be Sure To Talk To Us First! RM-Florida.com 954.523.2224
All inquires and offers should be submitted to the listing broker Primary Contact: Bradley Arendt P: 954.862.7530 E: ba@rm-florida.com John Csapo P: 954.862.7537 E: jc@rm-florida.com Main Office: 208 SE 9th Street Ft Lauderdale, FL 33316 Additional Offices in Miami Orlando Naples Licensed Real Estate Brokers RM-Florida.com