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50 SE 3 RD AVE & 245 E DANIA BEACH BLVD
DAN IA B EACH , F LOR IDA
OFFER MEMORANDUM$1,700,000
15
Uni
ts E
ast
of
US-1
Peter DackoMedia Realty & Advisors
954-923-2325
954-328-8248
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 2
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Offer Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Media Realty & Advisors, Inc. (Media Realty)and should not be made available to any other person or entity without the written consent of Media Realty. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation. Media Realty has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Media Realty has not verified, and will not verify, any of the information contained herein, nor has Media Realty conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all the information set forth herein.
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 3
TABLE OF CONTENTS
•Executive Summary
•Media Realty
•Market Report
•Subject Property
•Photo Addendum
•Financials
•Rent Survey
•Comparable Sales
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 4
EXECUTIVE SUMMARY
Offering Summary Property Highlights
Sale Price: $1,700,000 Great Location in the epicenter of the development boom
Price/SF: $193 Unique Upside in the Rent
Cap Rate: 5.00% Exposure on Dania Beach Blvd
NOI: $59,686 Fantastic zoning City Center 8.0 FAR
Building Size: 6,193 4 Parking Spaces per 1000 SF
Lot Size: 15,763 Limited Competition
Zoning: EDBB-MU Develop 50 units/Acre by right with bonus to 150 units/Acre
Demographics
1 Mile 3 Miles 5 Miles
Total Households 6,538 34,745 110,443
Total Population 14,454 78,148 250,844
Average HH Income $43,595 $46,298 $51,057
E xe c u t i ve S u m m a ry | S u b j e c t P ro pe r t y | Re n t S u r vey | Co m pa rab l e S a l e s | F i n a n c i a l s
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 5
MISSION STATEMENT
Media Realty was created in 2004 with the vision that real estate is the one common denominator that binds the neighborhoods to its residential and business communities alike.
Media Realty is a full-service real estate company with a business platform which includes brokerage services, property management, tenant placement services, and other ancillary services such as valuations, highest and best use analysis and tax abatement. Through our commitment of creating and maintaining long term relationships Media Realty is dedicated to reshaping our neighborhoods with best business practices and community involvement.
Media Realty will enable our clients to maximize their net returns by providing the best information which allows our clients to make the most educated decision in a timely manner.
Media Realty offers a unique value proposition no matter which side of the transaction you are on.
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 6
MEDIA REALTY SERVICES
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 7
INTRODUCTION TO BROWARD COUNTY
Broward County is located within the Southeast Florida mega-region, which represents over one third of Florida’s overall population and is the third most densely populated area in the US. At 1,320 square miles, the county is considered the second largest in the state of Florida in terms of area. It is also the second most populated county in the State with 1.8 million people as of the 2010 census. With an inviting business environment and an exceptional quality of life, Greater Fort Lauderdale/Broward County is attracting small businesses, regional companies and Fortune 500 multinationals. In fact, CNN Money and Fortune Small Business (FSB) Report recently named Fort Lauderdale one of the top 100 U.S. cities in which to “Live and Launch a Business”.
Broward County is well known for its brilliant sunshine in the winter, and ocean breezes in the summer, but it is also a vibrant, diverse destination for many growing businesses, corporations and others who seek the unique South Florida lifestyle. Currently, the County consists of thirty-one (31) unique municipalities, from the bustling urban center of the City of Fort Lauderdale, to the tranquil rural lifestyle found in the Town of Southwest Ranches. The diversity of lifestyles and tremendous population growth has positioned Broward County to become the second most populated county in the State of Florida. Broward County is an urbanized county located in southeast Florida. It is bounded by Palm Beach County to the north, Miami-Dade County to the south, Hendry and Collier Counties to the west, and the Atlantic Ocean on the east. The County population has increased steadily from 5,135 in 1920 to more than 1.7 million in 2011. This dramatic increase has made Broward County the 15th largest County (in terms of population) in the United States and the second largest in the State of Florida, just behind Miami-Dade
One of the challenges residents of Broward County will face with is build-out.Broward County is the first County in the State to face the issue of build-out. Build-out occurs when available vacant or undeveloped land no longer exists. New development cannot occur without the demolishing, reconstructing, or subdividing of existing properties. As build-out becomes a reality, redevelopment within Broward County will be the future focus of how the County manages and directs growth, while protecting existing residential neighborhoods.
South Florida (Miami-Dade, Broward and Palm Beach Counties) is the 8th largest metropolitan statistical area (MSA) in the nation. The region, whose combined population is now nearly 6 million, has roughly one-third of Florida's total population. Approximately 60 percent of the population is in the prime working ages. The region has been designated a mega-region of the future and a driver of U.S. economic growth in Richard Florida's book Who's Your City?.
7
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 8
INTRODUCTION DANIA BEACH
FLORIDA
Dania Beach, so named by the Danish residents who first lived there, is located in South Florida
between Fort Lauderdale and Miami in a culturally diverse community with all the appeal of small
town living. It was incorporated into Broward County in November 1904 with only 35 residents.
Today with a population of nearly 30,000 people, Dania Beach remains one of Florida’s most
fascinating cities.
Dania Beach not only provides a luxurious ocean view, but also offers a wide range of activities to
pass the time including fishing, windsurfing, snorkeling, kiteboarding and much more.
Stroll the immaculate parks and beaches while taking in the fresh sea breeze with the wide
expanse of the gorgeous Atlantic Ocean. There are plenty of places to shop including a historic
antiquities district with unique vintage finds. Take time to browse Dania Beach’s local art galleries,
sip coffee at a local shop, or try some famous ice cream. Why not take a gamble and try your hand
at Poker? Dania Beach is known for its alluring Poker tournaments. Want something more exciting?
Stop by Dania Jai-Alai and watch one of the word’s fastest games!
When you are not lying on the sand soaking up the sun, give surfing a try as the blue-green waves
that roll onto the beach. Hitch a ride with a sea captain for a day trip at sea or explore the
Atlantic’s inner depths with some scuba diving.
If you’re looking for a nice and relaxing time, come spend the day on the beach and enjoy
gorgeous evening sunset.
Dania Beach is definitely not one of your typical beach side towns. Dania Beach provides more to
visitors than what meets the eye. From fishing and windsurfing to roller coaster rides and Jai-Alai,
Dania Beach offers a variety activities for all ages. So pack your bags and book your flight today.
Visit Dania Beach today, a place where relaxation and surf takes precedence.
DANIA BEACH
9
Dania Pointe - Mixed-Use Lifestyle Development. Dania
Pointe is a 102-acre premier mixed-use development with
almost 1 million square feet of retail and restaurants in
addition to Class A offices, hotels, luxury apartments and
public event space. With 1,600 linear feet of frontage on 1-95
and immediate proximity to the Fort Lauderdale-Hollywood
International Airport, Port Everglades Cruise Port, and the
DCOTA Design Center, Dania Pointe’s sophisticated mix of
shop, work, live, play and stay options will make it Broward
County’s preeminent lifestyle destination.
The Place
The place at Dania Beach... a mixed-use project on
approximately two acres featuring 144 residential rental
units with 8,000 square feet of retail commercial space for
restaurant and retail. Amenities also include a rooftop
recreation facility, pool and fire-pit with some units
available with a 'back-yard". The Place at Dania Beach is
located at 180 East Dania Beach Blvd, 33004 and is
owned by AHS Development Group.
Casino & Jai-Alai
The Dania Beach Casino & Jai-Alai - The newest casino in
Broward County is here in the City of Dania Beach.
Featuring 900 Las Vegas style slot machines, a 24-table
card room, nationally known recording artists and
comedians, simulcast lounge and sports bar, multiple
dining options and live Jai-Alai, the brand new Casino @
Dania Beach offers a gaming and entertainment
experience like no other in a friendly and fun environment.
MARKET REPORT
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 11
CLICK HERE TO VIEW FULL SUB-MARKET REPORT
The Hollywood/Dania Beach Submarket is beginning to
grow in popularity, and developers are helping the
landscape evolve with the times. The submarket’s lower
rents have made it desirable to renters seeking
affordable alternatives to Downtown Fort Lauderdale or
expensive premier suburban submarkets that lie to the
west, such as Pembroke Pines/West Miramar.
Development has been mostly sparse this cycle but
picked up recently with two new apartment developments
delivering in 18Q2. This has caused a spike in vacancies
as the communities go through lease-up. Sales volume
for the submarket has been strong, with almost $200
million in trades over the past 12 months.
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 12
PENDING MAJOR
PROJECTS LIST
Click Here to view City’s Pending Projects and Development Pipeline
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 13
PIPELINE
Dania Beach
SUBJECT PROPERTY
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 15
BROWARD COUNTY
PROPERTY APPRAISER’S
PROPERTY CARD
Click Here to View Property Card
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 16
BROWARD COUNTY
PROPERTY APPRAISER’S
PROPERTY CARD
Click Here to View Property Card
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 17
SKETCH
50 SE 3rd Ave
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 18
SKETCH
254 E Dania Beach Blvd
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 19
LOCATION MAP Click here to Goog le Map
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 20
NEIGHBORHOODDANIA BEACH
Dania Beach is in the South Florida region in Broward County. The Galleria at Fort Lauderdale shopping mall is just a 20-minute ride away and about eight miles north.
The neighborhood is known for the best “blue-wave beaches” and plentiful opportunities for outdoor recreation. Locals enjoy the beach at Dania Beach Ocean Park, a great destination for swimming and fishing.
A small-town atmosphere with access to big-city amenities, many families excitedly call this area their home. With so many marinas making up the neighborhood, locals and tourists alike are afforded the chance to experience the nautical life with year-round boat excursions.
Within the community, you’ll discover a casino as well as the headquarters of two airline companies and an online pet supply retailer. In combination with outstanding weather and cool attractions, the Dania Beach/Fort Lauderdale neighborhood is a wonderful place to rent an apartment. The Fort Lauderdale-Hollywood Airport is close by.
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 21
AERIAL VIEW ZONING – EDBB-MUEast Dania Beach Blvd Mixed Use
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 22
AERIAL VIEW
Zoning - EDBB-MU
Click Here to view Development Codes as per
the city of Dania Beach
Subject
Density: 35 du/ac by right; up to 75
du/ac with density bonus.
F.A.R.: max. 8.0
Intent and Purpose of Zoning:
Redevelopment to place a greater
emphasis on pedestrian activity and
transit supportive development. This
will be accomplished by building close
to the street, relocating parking
facilities behind buildings, and mixing
residential and commercial uses at
medium to high intensities.
EDBB-MULAND
DEVELOPMENT CODE DANIA
BEACH
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 24
DEMOGRAPHICS
Radius 1 Mile 3 Mile 5 Mile
Population:
2024 Projection 25,799 123,467 290,545
2019 Estimate 24,646 117,645 277,223
2010 Census 22,733 106,624 252,475
Growth 2019-2024 4.68% 4.95% 4.81%
Growth 2010-2019 8.42% 10.34% 9.80%
2019 Population Hispanic
Origin7,113 34,610 93,275
2019 Population by Race:
White 15,726 86,486 203,171
Black 7,740 25,459 59,442
Am. Indian & Alaskan 121 478 1,623
Asian 489 2,547 6,802
Hawaiian & Pacific Island 42 155 409
Other 528 2,519 5,775
U.S. Armed Forces: 1 28 85
Households:
2024 Projection 11,088 54,252 123,123
2019 Estimate 10,663 51,959 117,992
2010 Census 10,112 48,032 109,135
Growth 2019 - 2024 3.99% 4.41% 4.35%
Growth 2010 - 2019 5.45% 8.18% 8.12%
Owner Occupied 4,534 28,833 70,818
Renter Occupied 6,129 23,126 47,174
2019 Avg Household
Income$55,926 $72,052 $73,723
2019 Med Household
Income$42,406 $50,775 $51,685
2019 Households by
Household Inc:
<$25,000 3,154 12,718 28,533
$25,000 - $50,000 3,068 12,945 28,956
$50,000 - $75,000 1,909 9,099 20,892
$75,000 - $100,000 1,154 5,845 13,903
$100,000 - $125,000 600 4,225 8,740
$125,000 - $150,000 231 2,156 4,796
$150,000 - $200,000 331 2,179 5,059
$200,000+ 217 2,794 7,114
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 25
CITY CENTER (CC) DISTRICTLAND DEVELOPMENT CODE DANIA BEACH
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 26
CITY CENTER (CC) DISTRICTLAND DEVELOPMENT CODE DANIA BEACH
Generalized permitted uses (see article 302
for specific uses and conditions of use) .
Core
Streets
*
Other
Streets
Residential Multifamily U ✓
Commercial (Mixed use compatible) ✓ ✓
General Commercial ✓ ✓
Restricted Commercial ** **
Entertainment ✓ ✓
Lodging ✓ ✓
Civic and institutional ✓ ✓
Transportation ✓ ✓
City center core. Located between NE and NW 1st Avenues and
between SE/SW 1st and NE/NW 1st Streets (see cross-hatching on
map). The core is the planned retail, government and downtown of
Dania Beach. Mixed-use buildings with ground-floor retail,
entertainment, and/or office uses are required in the core.
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 27
CITY CENTER (CC) DISTRICTLAND DEVELOPMENT CODE DANIA BEACH
• Building placement standards.
Diagram
Key NP = not permitted Core Outside core
"F" Front street
setback
Shopfront 0′—5′ 0′—5′
with arcade 0′—10′ 0′—10′
Stoop NP 4′—8′
Dooryard NP 8′—12′
Balcony over porch NP 8′—12′
"C" Corner street setback 0′—5′ 0′—5′
"G" Interior side setback, 1st layer 0′ min 0′ min
"H" Interior side setback, 2nd layer 0′ min. 0′ min.
"I" Rear setback 0′ min. 0′ min.
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 28
PHOTO ADDENDUM
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 29
PHOTO ADDENDUM
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 30
PHOTO ADDENDUM
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 31
PHOTO ADDENDUM
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 32
PHOTO ADDENDUM
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 33
PHOTO ADDENDUM
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 34
PHOTO ADDENDUM
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 35
PHOTO ADDENDUM
FINANCIALS
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 37
INCOME &E X P E N S E
50 SE 3 AVE
Price:
25.00% $218,750 Terms:
7
$125,000
10.9
4.11%
9.1
5.87%
$18.14
1974
6,709.0
4,431
$197.47
$80,400
4,020
76,380$
40,418
35,962$
40,288
(4,327)$ *
11,573
7,247$ *
Market Rent Taxes: 16,696$
UNIT BDRMS/ Unit Monthly Monthly Monthly Monthly 7,500
NUM BATHS Size Rent/Unit Income Rent/Unit Income 3,500
6 1/1 $875-$1050 $5,825 $7,200 6,698
1 0/1 $750 $750 $850 Landscaping 800
200
3,224
1,800
$6,575 $8,050
Laundry 125 125 40,418$
$6,700 $9.12
Annual Scheduled Gross Income: $80,400 $96,600 Per Unit: $5,774.05
Current CAP:
Approximate Net RSF:
Cost per Net RSF:
Gross Operating Income:
Less Expenses:
Current Rents
Scheduled Gross Income:
Market GRM:
Market CAP:
SQ FTApproximate Lot Size:
Less Vacancy Rate Reserve:
Annual Rent per Square Foot:
Approximate Age:
Annualized Operating Data
50.27%
Price per Unit
Current GRM:
$656,250
30
$875,000
$3,357.35
Number of Units:
Monthly Payment:
Purchase Money Mortgage
Summary Proposed Financing
interest
yr. amortization
4.50%Down Payment:
5.00%
Market Rent
4,830
$96,600
51,352$ Net Operating Income:
*As Percent of Down Payment
-1.98%
22,637$
Licenses
10.35%
11,573
Annualized ExpensesScheduled Income
Less Loan Payments:
Pre Tax Cash Flow:
Total Return Before Taxes:
Plus Principal Reduction:
11,063$
40,288
91,770$
40,418
5.00%
3.31%
5.06%
44.04%
Water & Trash
Total Expenses:
Per Net Sq.Ft.:
Trash
Maintenance:
Monthly Scheduled Gross Income:
Current Rents
Total Scheduled Rent:
$8,050
Electric
$1,200
Insurance:
$850
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 38
INCOME &E X P E N S E254 E DANIA BEACH
BLVD
Price:
25.00% $206,250 Terms:
8
$103,125
10.5
5.17%
9.3
6.37%
$25.19
1952
5,986.0
3,108
$265.44
$78,300
3,915
74,385$
31,770
42,615$
37,986
4,629$ *
11,573
16,202$ *
Market Rent Taxes: 9,000$
UNIT BDRMS/ Monthly Monthly Monthly Monthly 7,000
NUM BATHS Rent/Unit Income Rent/Unit Income 2,250
5 Studio $775-$900 $4,250 $5,000 1,800
3 Efficency $750-$775 $2,275 $2,400 Landscaping 720
200
6,600
2,520
Trash 1,680
$6,525 $7,400
31,770$
$6,525 $10.22
Annual Scheduled Gross Income: $78,300 $88,800 Per Unit: $3,971.25
Current CAP:
Approximate Net RSF:
Cost per Net RSF:
Gross Operating Income:
Less Expenses:
Current Rents
Scheduled Gross Income:
Market GRM:
Market CAP:
SQ FTApproximate Lot Size:
Less Vacancy Rate Reserve:
Annual Rent per Square Foot:
Approximate Age:
Annualized Operating Data
40.57%
Down Payment:
Cost per Unit:
Current GRM:
$618,750Obtain 1st Mortgage
30
$825,000
$3,165.50
Number of Units:
Monthly Payment:
Summary Proposed Financing
interest
yr. amortization
4.50%
5.00%
Market Rent
4,440
$88,800
52,590$ Net Operating Income:
*As Percent of Down Payment
2.24%
26,177$
Licenses
12.69%
11,573
Annualized ExpensesScheduled Income
Less Loan Payments:
Pre Tax Cash Flow:
Total Return Before Taxes:
Plus Principal Reduction:
14,604$
37,986
84,360$
31,770
5.00%
7.86%
7.08%
37.66%
Water Sewer
Total Expenses:
Per Net Sq.Ft.:
Cable
Maintenance:
Rate:
Monthly Scheduled Gross Income:
Current Rents
Total Scheduled Rent:
$7,400
Electric
$1,000
Insurance:
$800
RENT SURVEY
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 40
RENT SURVEY STUDIO APARTMENTS
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Address City NameCurrent
PriceSale Price
Closing
Date
Days on
Market#Beds Bath Year Built Pool YN
1603 N 17 Hollywood $1,100 9 0 1 No
206 S 15th Ave Unit#1-6 Hollywood $1,100 40 0 1 1930 No
1601 N 17th Ave Unit#1601 Hollywood $1,300 100 0 1 1933 No
31 SE 13th St Unit#1-2 Dania Beach $1,200 $1,200 4/17/2019 31 0 1 2005 No
1644 Jackson St Unit#Rear Hollywood $1,000 $1,000 9/1/2019 59 0 1 1994 No
1621 Van Buren St Unit#11 Hollywood $1,000 $1,000 2/26/2019 113 0 1 1936 No
258 SW 1st Ct Unit#E Dania Beach $1,100 $1,100 10/29/2019 48 0 1 1960 No
505 N 20th Ave Unit##3 Hollywood $1,000 $1,000 4/19/2019 17 0 1 1965 No
917 NE 7th St Unit#3 Hallandale $1,000 $1,000 3/12/2019 11 0 1 1955 No
1750 Fletcher Unit#6 Hollywood $1,095 $1,095 11/14/2019 2 0 1 No
223 S 17th Ave Unit#1 Hollywood $1,250 $1,250 11/13/2019 49 0 0 1932 No
1634 Fletcher St Hollywood $1,200 $1,200 6/1/2019 5 0 1 1975 Yes
1656 Polk St Unit#11 Hollywood $1,250 $1,250 7/3/2019 2 0 1 1937 No
$1,123 $1,110
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 41
RENT SURVEY ONE BEDROOM APARTMENTS
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Address City Name Current Price Sale Price Closing DateDays on
Market#Beds Bath
Year
Built
Cooling
Description
1612 HARRISON ST Unit#5 Hollywood $1,000 1 1 1 1933 Wall/Window Unit
1736 Madison Unit#A Hollywood $1,000 137 1 1 Wall/Window Unit
1710 Thomas St Unit#6 Hollywood $1,100 28 1 1 1969
1800 Fillmore St Unit#E Hollywood $1,100 103 1 1 1930
1740 Funston St Unit#7 Hollywood $1,025 62 1 1 1977 Central Cooling
1100 NE 1st Ct Hallandale $1,300 96 1 1 1970
1018 N 17th Ct Hollywood $1,000 $1,000 10/2/2019 47 1 1 1950
1815 Buchanan St Unit#1 Hollywood $1,000 $1,000 12/21/2019 48 1 1 1948 Wall/Window Unit
310 S 17th Ave Unit#2 Hollywood $1,075 $1,075 10/11/2019 14 1 1 1931
1735 Dewey St Unit#402 Hollywood $1,100 $1,100 9/1/2019 13 1 1 1973 Central Cooling
1714 Plunkett St Unit#1 Hollywood $1,100 $1,100 9/1/2019 13 1 1 1950 Wall/Window Unit
1639 Dewey St Hollywood $1,050 $1,050 7/25/2019 19 1 1 1974
1555 Tyler St Unit#10 Hollywood $1,100 $1,100 7/31/2019 84 1 1 1963 Central Cooling
724 NE 4th St Unit#12 Hallandale $1,100 $1,100 10/28/2019 8 1 1 1977
500 NE 2nd St Unit#325 Dania Beach $1,145 $1,145 8/22/2019 82 1 1 1975
1628 Plunkett St Hollywood $1,150 $1,150 10/4/2019 28 1 1 1952
1625 DEWEY Unit#FRONT Hollywood $1,200 $1,200 11/14/2019 5 1 1
1708 N 16th ave Unit#1 Hollywood $1,150 $1,150 11/8/2019 23 1 1 1970
1621 Van Buren St Unit#4 Hollywood $1,150 $1,150 8/27/2019 8 1 1
1727 THOMAS ST Hollywood $1,200 $1,200 9/1/2019 27 1 1 1955 Central Cooling
1314 S 17th Ave Unit#North Hollywood $1,200 $1,200 11/2/2019 38 1 1 1953 Wall/Window Unit
1735 Dewey St Unit#403 Hollywood $1,200 $1,200 10/15/2019 20 1 1 1973 Central Cooling
23 SE 12 Unit#101 Dania Beach $1,100 $1,100 11/12/2019 78 1 1 1985 Central Cooling
400 NE 1st St Unit#103 Hallandale $1,200 $1,200 8/22/2019 28 1 1 1972 Central Cooling
615 NE 10th St Unit#202 Hallandale $1,250 $1,250 11/1/2019 37 1 1 1974 Central Cooling
1750 Madison St Unit#A Hollywood $1,250 $1,250 10/29/2019 7 1 1 1955
1736 Rodman St Unit#1 Hollywood $1,250 $1,250 11/1/2019 63 1 1 1960 Electric Cooling
1811 Jefferson St Unit#603 Hollywood $1,290 $1,290 7/2/2019 198 1 1 1970 Central Cooling
925 NE 15 th Avenue Unit#2 Hollywood $1,300 $1,300 10/1/2019 18 1 1 Central Cooling
$1,141 $1,155
COMPARABLE SALES
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 43
COMMENTS DIRECT SALES COMPARISON
A COMPARABLE SALE IS PROPERTY THAT IS SIMILARTO THE SUBJECT PROPERTY IN MOST RESPECTS. IT ISLOCATED IN A NEARBY LOCATION. IT HAS RECENTLYSOLD FOR A FAIR MARKET VALUE. THE SELECTION OFCOMPARABLE SALES IS IN MOST APPRAISALS IS THESINGLE MOST DETERMINING FACTOR INESTABLISHING THE VALUE. THE RESPONSIBILITY IS TOFULLY RESEARCH THE LOCAL REAL ESTATE MARKETAND DETERMINE WHICH COMPARABLE SALESREPRESENT THE BEST VALUE CHARACTERISTICS OF THESUBJECT PROPERTY.
THE MARKET OR DIRECT SALES COMPARISONAPPROACH TO AN ESTIMATE OF VALUE IS APROCESS OF COMPARING MARKET DATA,THAT IS, PRICES PAID FOR SIMILARPROPERTIES, PRICES ASKED BY OWNERS, ANDOFFERS MADE BY PROSPECTIVE BUYERS ORTHE TENANTS WILLING TO BUY OR LEASE.TYPICALLY A COMPARISON GRID IS USEDAND ADJUSTMENTS ARE MADE TO EACHCOMPARABLE SALES USED FOR MAJORDIFFERENCES BETWEEN THE COMPARABLEAND THE SUBJECT PROPERTY FOR SUCHITEMS AS LOCATION, CONSTRUCTIONQUALITY AND SIGNIFICANT AMENTIAS, ETC.IN THE MARKET APPROACH, THE ATTEMPTSARE MADE TO BOTH GAUGE AND REFLECTTHE ANTICIPATED REACTION BY A TYPICALPURCHASER TO THE SUBJECT PROPERTY.
COMPARABLE SALES
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 44
COMPARABLE GRIDHOLLYWOOD
PRIMARY EMPHASIS
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Property Address Asking Price Sale Price Sale DateMarket
Time
Bldg
SF
#
Units
Price Per
Unit
Price
Per SF
Cap
Rate
Land
Area SF
Year
Built
820 S 19th Ave $1,420,000 17 7,530 10 $142,000 $189 6.55 10,454 1964
2216 Fillmore St $1,300,000 223 5,559 10 $130,000 $234 6.23 20,037 1955
2325 Taylor St $1,280,000 266 6,315 9 $142,222 $203 7.27 20,037 1952
2125 Polk St (2 Properties) $1,100,000 105 4,316 8 $137,500 $255 7.13 11,491
2029-2033 Funston St $1,100,000 55 6,072 9 $122,222 $181 5.4 16,117 1960
1943-1947 Buchanan St $897,000 192 4,078 8 $112,125 $220 12,196 1953
2020 Washington St $875,000 43 4,712 8 $109,375 $186 4.8 11,325 1926
345 Monroe St $798,000 91 1,649 4 $199,500 $484 - 1965
1848 Madison St $765,000 8 3,779 6 $127,500 $202 5.03 10,890 1952
2110-2124 Anton Ter $750,000 160 4,695 6 $125,000 $160 8.06 22,651 1984
2634 Pierce St $475,000 371 3,452 6 $79,167 $138 20,473 1954
1840-1844 Taft St $1,190,000 2/1/2019 9,954 10 $119,000 $120 6,185 1951
1837-1843 Fillmore St $1,100,000 1/7/2019 5,467 9 $122,222 $201 15,677 1946
1104 N 17th Ct $1,125,000 $980,000 4/12/2019 163 8,052 8 $122,500 $122 13,503 1963
1350 Tyler St $840,000 1/28/2019 3,500 8 $105,000 $240 12,100 1940
1925 Washington St $750,000 $685,000 11/23/2018 56 4,400 6 $114,167 $156 5.33 15,590 1955
1858 Dewey St $650,000 12/20/2018 3,632 9 $72,222 $179 10,824 1964
1708 N 16th Ave $575,000 $555,000 3/11/2019 3,311 4 $138,750 $168 5.82 7,840 1969
2101 N 16th Ave $800,000 10/22/2018 80 4,401 6 $133,333 $182 20,037 1969
1728 Pierce St $415,000 4/10/2019 2,012 4 $103,750 $206 5,601 1943
$129,692 $223 6.31%
$114,549 $175 5.58%
On M
arket
Clo
sed
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 45
COMPARABLE GRIDHOLLYWOOD
PRIMARY EMPHASIS
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Property Address Property City Asking Price Sale Price Sale DateBuilding
SF
Land
Area SF# Units
Price Per
SF
Price Per
Unit
Cap
Rate
1812-1824 Taft St Hollywood 2,500,000 9,368 30056 20 $266.87 $125,000 6.21
201 NE 4th Ct Hallandale Beach 1,990,000 9,380 19166 7 $212.15 $284,285 4.97
530 N 20th Ave Hollywood 1,300,000 7,597 14374 12 $171.12 $108,333 5.21
1942 Rodman St Hollywood $680,500 12/2/2019 4,416 5 $154.10 $136,100
915 NE 8th St Hallandale Beach 2,400,000 $2,225,000 11/25/2019 10,918 15245 14 $203.79 $158,928 5.72
1536-1538 Polk St Hollywood $1,430,000 11/6/2019 4,056 7840 8 $352.56 $178,750 6.61
820 S 19th Ave Hollywood 1,420,000 $1,380,000 9/19/2019 7,530 10454 10 $183.27 $138,000 6.73
1701 Taft St Hollywood 650,000 3,883 8276 4 $167.40 $162,500 6.73
1730 Washington St Hollywood $385,000 8/26/2019 1,860 3 $206.99 $128,333
227-235 SE 1st St Dania Beach 1,075,000 $1,010,000 8/15/2019 4,973 17859 8 $203.10 $126,250 4.89
322-324 NE 3rd St Hallandale Beach 2,800,000 $2,650,000 8/14/2019 14,301 29185 11 $185.30 $240,909 5.10
237 SE 1st St Dania Beach $400,000 8/14/2019 2,966 5902 4 $134.86 $100,000
22 SE 10th Ter Dania Beach $592,000 8/13/2019 6,050 14810 4 $97.85 $148,000
1958 Liberty St Hollywood 1,500,000 $1,300,000 8/8/2019 7,184 16117 12 $180.96 $108,333 5.96
250 SE Park St Dania $551,000 7/23/2019 3,444 8921 5 $159.99 $110,200
$192.02 $150,261 5.81
This analysis has been prepared solely for informational purposes to assist the investor(s) in determining whether to proceed with the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be liable for
misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of action. 46
SALE GRID APT BLDGS. 5+ UNITS
Folio Number Property Address City Zip Code Amount Date No Units Adj SF Price per Unit Price per SF
514216-01-4230 2300 PIERCE STREET HOLLYWOOD 33020 $2,500,000 3/16/2019 20 15444 $125,000.00 $161.88
514215-04-0040 1639 MADISON STREET HOLLYWOOD 33020 $1,650,000 3/4/2019 13 6776 $126,923.08 $243.51
514210-10-0070 1128 N 16 COURT HOLLYWOOD 33020 $1,200,000 2/27/2019 11 6366 $109,090.91 $188.50
494224-04-0120 2817 NE 32 STREET FORT LAUDERDALE 33306 $4,450,000 2/26/2019 33 19948 $134,848.48 $223.08
514123-00-0040 1860 SW 68 AVENUE MIRAMAR 33023 $9,000,000 2/19/2019 76 54657 $118,421.05 $164.66
494135-19-0070 1701 NW 58 TERRACE SUNRISE 33313 $925,000 2/15/2019 10 7006 $92,500.00 $132.03
504204-20-0590 1412 NW 4 STREET FORT LAUDERDALE 33314 $1,100,000 2/12/2019 12 8145 $91,666.67 $135.05
494234-04-4760 1120 N VICTORIA PARK ROAD FORT LAUDERDALE 33304 $1,000,000 2/4/2019 11 6237 $90,909.09 $160.33
494214-08-0150 600 NE 46 COURT OAKLAND PARK 33334 $1,150,000 2/1/2019 10 6567 $115,000.00 $175.12
494234-04-5501 1015 NE 17 AVENUE FORT LAUDERDALE 33304 $1,535,000 1/31/2019 10 7285 $153,500.00 $210.71
494135-23-0020 5960 NW 16 PLACE SUNRISE 33313 $4,000,000 1/18/2019 36 24633 $111,111.11 $162.38
514215-02-0150 1826 JOHNSON STREET HOLLYWOOD 33020 $1,000,000 1/18/2019 12 6758 $83,333.33 $147.97
484235-00-1000 101 NW 7 AVENUE POMPANO BEACH 33060 $800,000 1/17/2019 10 6271 $80,000.00 $127.57
514216-01-5250 2519 PIERCE STREET HOLLYWOOD 33021 $1,631,000 1/13/2019 13 9207 $125,461.54 $177.15
$111,269 $172.14
BCPA