for sale > multifamily land puckett’s creek sanctuary · 2017. 2. 23. · accommodate aircraft...

Old

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Promenade at Mayport Apartments

Mayport Coastal Sciences Middle School

Heron Pointe

Seaside Community Charter School

COLLIERS INTERNATIONAL Land Advisory Group

COLLIERS INTERNATIONAL Multifamily Advisory Group

Source: http://www.parkcrestlandings.com/

AmericasDrive•In SM

COLLIERS INTERNATIONALNORTHEAST FLORIDA

50 N. Laura Street, Suite 1725Jacksonville, FL 32202

www.colliers.com/jacksonville

FOR SALE > MULTIFAMILY LAND

Puckett’s Creek Sanctuary 2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

24.5± AC AVAILABLE

Property Features > 24.5-acre multifamily development site > Upland area totals 20± acres > Zoned PUD Residential Medium Density (up to 20 UPA) > Submittal of PUD application + site plan approval required > Property located within the highly desirable Beaches submarket

> Beaches Product (1 to 5 years) ~ $1.77 Avg. p/SF Rental Rate > Beaches Class “A” Product Overall ~ $1.28 Avg. p/SF Rental Rate

> Beaches submarket currently 96% occupied > Beaches submarket annual rental rate growth ~ 4.8% > Pricing Guidance ~ $14,500 per unit > Pricing includes pre-paid concurrency/mobility fees.

BRADLEY COE, MBA, MRE 904 358 1206 | EXT 1158JACKSONVILLE, FL [email protected]

DOUGLAS BLAIR, MSW904 358 1206 | EXT 1101JACKSONVILLE, FL [email protected]

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Atlantc Beach Town Center

Mayport NavalStation

Kathryn AbbeyHanna Park

St Johns River

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Atlantic Ocean

Atlantic Beach Country Club

Queen’s HarbourYacht & Country

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Wonderwood Expressway

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COLLIERS INTERNATIONALNORTHEAST FLORIDA50 N. Laura Street, Suite 1725Jacksonville, FL 32202 www.colliers.com/jacksonville


Area Map2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233



Wetland Map2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

1 inch = 200 feet

0 200 400Feet

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SubjectProperty

Preliminary Wetland Assessment2016 True Color Orthophoto

State Road A1A PropertyJacksonville, Duval County, Florida2016-100 September 28, 2016

2016 True Color OrthophotosFrom Florida DOT

14785 Old St. Augustine Road, Suite 4Jacksonville, Florida 32258(904) 288-8631

Ditch / Open Water AreaApproximately 1/2 AcreUpland AreaApproximately 19-1/2 AcresWetlandsApproximately 4-1/2 Acres

This exhibit is the result of preliminary wetland assessment based on aerial photographyinterpretation only with no ground-truthing. It is intended for informational purposesonly. This exhibit should not be used for detailed site planning. Wetland boundaries canmore accurately be determined by field delineation, location by survey and reviewapproval by the regulating agencies.

Demographics Snapshot 5 Mile 10 Mile 15 Mile

Population 2016 Estimate 7,400 33,040 93,801

Population 2021 Projection 7,394 34,011 98,401

Average Age 39.3 38.3 38.6

Employees 2016 Estimate. 2,907 13,696 44,939

Unemployed 2015 Estimate. 541 1,450 4,024

Demographics Snapshot 5 Mile 10 Mile 15 Mile

Households 2016 Estimate 2,891 12,098 35,953

Households 2021 Projection 2,911 12,504 37,816

Owner Occupied 1,378 7,364 24,320

Renter Occupied 1,513 4,735 11,633

Estimate Average HH Income $60,747 $88,248 $86,431

Source: The Nielsen Company



Area Map2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

Hanna Park’s pristine beaches have played a proud role in Florida’s rich history as an inviting destination for relaxation and recreation. The 450-acre oceanfront park provides a 1.5 mile white sandy beach, a 60-acre fresh water lake, 20 miles of scenic trails for hiking and biking, an extensive dune system and an abundance of maritime hammocks with majestic live oaks draped in spanish moss.



Hanna Park2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

Naval Station Mayport is a major United States Navy base in Jacksonville, Florida. It contains a protected harbor that can accommodate aircraft carrier-size vessels, ship's intermediate maintenance activity (SIMA) and a military airfield (Admiral David L. McDonald Field) with one asphalt paved runway (5/23) measuring 8,001 × 200 ft. (2,439 × 61 m).

Since its commissioning in December 1942, NS Mayport has grown to become the third largest naval surface fleet concentration area in the United States. Mayport's operational composition is unique, with a busy harbor capable of accommodating 34 ships and an 8,001-foot (2,439 m) runway capable of handling most aircraft in the Department of Defense inventory.

Naval Station Mayport is also home to the Navy's United States Fourth Fleet, reactivated in 2008 after being deactivated in 1950.The base has historically served as the homeport to various conventionally powered aircraft carriers of the Atlantic Fleet, including the Shangri-La, Franklin D. Roosevelt, Forrestal (September 1977 – January 1983), Saratoga, and, most recently, the John F. Kennedy. With the decommissioning of all conventionally powered aircraft carriers by the Navy, no carriers are presently assigned to Mayport. However, both houses of Congress have passed legislation authorizing about US $75 million for dredging and upgrades at Mayport to accommodate a nuclear-powered aircraft carrier.

On January 29, 2010, the Quadrennial Defense Review Report stated that a nuclear aircraft carrier would be home ported at NAS Mayport. The action will help protect the fleet against a potential terror attack, accident or natural disaster, because all east coast aircraft carriers are currently based at Naval Station Norfolk, according to the report. West coast aircraft carriers are split between Naval Station San Diego and Naval Base Kitsap in Washington state. Robert Gates, Secretary of Defense, stated, "Having a single (nuclear carrier) homeport has not been considered acceptable on the west coast and should not be considered acceptable on the east coast." The decision was opposed by elected officials in Virginia, who would lose 3,500 sailors and their dependents, $425 million in revenue each year, and most importantly, 6,000 support jobs. The Hampton Roads Chamber of Commerce estimated the loss at 11,000 jobs and $650 million per year. Infrastructure changes and facility construction at Mayport are estimated to take five years and cost over half a billion dollars. The 2011 budget commits $590 million during the fiscal years from 2011 to 2019, so a carrier may not move to Mayport until 2019. However, an amphibious group is coming sooner. The USS New York (LPD-21) relocated to Mayport in December 2013 and two other ships are planned to move as early as 2014.

A 2013 report from the USN revealed that they are considering basing as many as 14 littoral combat ships at Mayport. (Source: Wikipedia)

Businesses “optimistic” about new ships at Mayport

JACKSONVILLE, Fla. -- The USS Iwo Jima and USS Fort McHenry are scheduled to arrive at their new home port, Naval Station Mayport, on Sunday. About 1500 sailors are also making the move from Norfolk, Virginia. "It's a great opportunity," said Deanna Bongirno, owner of Bongirno's Philly Steak Shop on Mayport Road. "More businesses will open, more people will move here, it's going to boost everything." Bongirno, and several other business owners, say the Mayport part of Jacksonville hasn't been as booming as it was in the past. "When we first opened it was kind of slow," Bongirno said. Wes McCall is the Commanding Officer of Naval Station Mayport. He says in addition to these two ships arriving Sunday, 6 littoral combat ships will move to Mayport in 2016. "It's nice to see activity back here on the base and what a great deal for us and what a great deal for the city," he said. All the action is leaving business owners like Bongirno optimistic about the business boom they've been looking for. (Source: First Coast News)



Naval Station Mayport2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233


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COMPARATIVE MULTIFAMILY PROPERTIES1 BluWater 4 Tamaya2 Broadstone Beach House 5 Sorrel3 Ocean Blue 6 Seagrass


Comparative Multifamily Properties2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233



Comparative Multifamily Properties2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

Property Photo Property Year Built

Total Units Unit Mix Average

Unit SFAverage Rent/SF

1BluWater 711 Beach BlvdJacksonville Beach, FL 32250

2015 170 1’s, 2’s, 3’s 892 $1.85

2Broadstone Beachouse 1300 Shetter Avenue Jacksonville Beach, FL 32250

2009 228 1’s, 2’s, 3’s 1,173 $1.35

3Ocean Blue 2701 State Road A1A Atlantic Beach, FL 32233

UC 156 1’s, 2’s, 3’s 1,231 $1.30

4Tamaya NWQ Kernan & Beach BlvdJacksonville, FL 32224

UC 380 1’s, 2’s, 3’s 977 $1.30

5Sorrel12001 Abess Blvd Jacksonville, FL 32225

2015 290 1’s, 2’s, 3’s 1,048 $1.22

6Seagrass 1701 San Pablo Road S Jacksonville, FL 32224

2014 396 1’s, 2’s, 3’s 1,031 $1.20


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COMPARATIVE MULTIFAMILY PROPERTIES1 Ocean Blue 4 Otter Run2 Atlantica 5 Arium Atlantic Beach3 Promenade at Mayport 6 Mallard Cove


Atlantic Beach Comparable Multifamily Properties2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

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Atlantic Beach Comparable Multifamily Properties2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

Property Photo Property Year Built

Total Units

Unit Mix

Average Unit SF

Average Rent/SF Occupancy

1Ocean Blue 2701 State Road A1A Atlantic Beach, FL 32233

UC 156 1’s, 2’s, 3’s 1,231 $1.30 N/A

2Atlantica 2760 State Road A1A Atlantic Beach, FL 32233

1987 100 2’s 942 $1.14 97%

3Promenade at Mayport2610 State Road A1A Atlantic Beach, FL 32233

1986 216 1’s, 2’s, 837 $1.13 95%

4Otter Run 1025 Assisi Lane Atlantic Beach, FL 32233

1989 192 1’s, 2’s, 863 $1.11 99%

5Arium Atlantic Beach 2160 Mayport Road Atlantic Beach, FL 32233

1986 204 1’s, 2’s, 3’s 843 $1.09 97%

6Mallard Cove 2900 State Road A1AAtlantic Beach, FL 32233

1987 160 1’s, 2’s, 867 $1.08 98%


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COMPARATIVE MULTIFAMILY PROPERTIES1 Integra Riverside 7 Ocean Blue2 Broadstone River House 8 Alaqua3 Terraces at Town Center II 9 Carlton at Bartram Park4 Portiva 10 SOLA5 Tamaya 11 Loree Phase II6 Palm Bay Club 12 Galleria Club


Comparative Multifamily Land Sales 2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233



Comparative Multifamily Land Sales 2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

Property Submarket Sale Date Sale Price Units $/Unit AC

1 Integra RiversideMax Leggett Parkway North Aug-16 $3,278,000 300 $10,927 18

2 Broadstone River House Downtown Southbank South July-16 $6,500,000 263 $24,715 4.5

3 Terraces at Town Center IIGate Parkway Baymeadows April-16 $6,275,000 240 $26,146 12.9

4 Portiva AC Skinner Parkway Baymeadows April-16 $3,500,000 260 $13,462 7.3

5 TamayaNEQ Beach & Kernan Southeast Mar-16 $6,295,000 380 $16,566 11.0

6 Palm Bay Club Gran Bay Parkway Baymeadows Jan-16 $7,100,000 400 $17,750 22

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Comparative Multifamily Land Sales Cont. 2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

Property Submarket Sale Date Sale Price Units $/Unit AC

7 Ocean Blue State Road A1A Beaches Dec-15 $1,56,000 156 $10,000 15.5

8 Alaqua Gran Bay Parkway Baymeadows Jun-15 $2,616,000 218 $12,000 11

9 Carlton at Bartram ParkBartram Park Blvd Mandarin May-15 $6,300,000 395 $15,949 26

10 SOLA Gate Parkway West South April-15 $4,000,000 330 $12,121 15

11 Loree Phase II AC Skinner Parkway Baymeadows Jan-15 $5,400,000 300 $18,000 15

12 Galleria Club Baymeadows Road East Baymeadows Jan-15 $6,000,000 254 $23,622 15


Beaches Apartment Market Summary2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

BEACHES SUBMARKET TRENDS ANNUALIZED

Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 1-Yr Avg.

5-Yr Avg.

Vaca

ncy

One Bed % 8.6% 4.7% 8.3% 6.4% 7.2% 8.7% 6.3% 3.5% 5.1% 3.8% 5.3% 4.7% 6.2%

Two Bed % 5.4% 4.9% 5.2% 5.7% 5.1% 6.6% 7.3% 6.1% 7.6% 4.4% 4.4% 5.5% 5.7%

Three Bed % 5.3% 7.4% 8.2% 4.1% 4.1% 9.4% 10.6% 3.4% 6.1% 6.1% 5.6% 6.0% 6.4%

Totals 6.4% 5.0% 6.5% 5.9% 5.8% 7.5% 7.1% 5.0% 6.6% 4.3% 4.8% 5.2% 5.9%

Rent

s

One Bed $/mo. $718 $722 $743 $765 $804 $810 $799 $873 $886 $922 $941 $916 $817

Two Bed $/mo. $901 $865 $916 $957 $996 $996 $968 $1,067 $1,075 $1,122 $1,147 $1,115 $1,001

Three Bed $/mo. $1,098 $1,058 $1,167 $1,154 $1,193 $1,226 $1,244 $1,335 $1,385 $1,440 $1,090 $1,305 $1,217

Totals $853 $829 $869 $901 $940 $944 $924 $1,012 $1,024 $1,066 $1,090 $1,060 $950

Same-Unit Growth 0.7% 2.5% 1.2% 1.7% 1.9% 0.5% 0.5% 5.3% 1.1% 3.7% 1.6% 5.3% 4.0%

Supp

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Dem

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Absorption -17 15 -15 18 3 -52 11 228 -50 58 -1 57 43

Change in Supply - - - - - - - 172 - - - - 34

Differential -17 15 -15 18 3 -52 11 56 -50 58 -1 57 9

Starts - - - - - 170 - - - - 156 156 65

Units U/C - - - - - 170 170 - - - 156 52 45

Units Proposed - - - - 170 - - - - 54 54 36 25

BEACHES SUBMARKET BEACHES OVERALL % OF MKT

# of Units 3,168 72,331 4.4%# Vacant 151 3,724 4.1%Vacancy % 4.8% 5.1% -Average SF 914 979 93.4%Average Rent $1,090 $954 114.2%Average Rent/SF $1.2 $0.9 122.3%Absorption -1 603 -0.2%# Under-Construction 156 3,361 4.6%# Proposed 54 1,191 4.5%Starts 156 2,125 7.3%Change in Supply - 1,049 -Rent Change $ $17.5 $2.3 750.1%Rent Change % 1.6% 0.2% 665.9%



Contact Us For More Information2630 STATE ROAD A1A, ATLANTIC BEACH, FL 32233

JACKSONVILLE MARKET OVERIEWJax Metro Apartment

SummaryDec2015

Jun2016

Dec2016

# of Units 71,098 72,813 72,331# Vacant 4,101 3,297 3,724Vacancy % 5.8% 4.5% 5.1%Average SF 977 976 979Average Rent $912 $940 $954Average Rent/SF $0.93 $0.96 $0.98Absorption 1,002 1,127 603# Under-Construction 1,285 2,148 3,361# Proposed 1,352 2,067 2,191Starts 801 1,118 2,125Change in Supply 1,065 254 1,049Rent Change $ $4.12 $27.87 $2.33Rent Change % 0.5% 3.1% 0.2%

Market Indicators 5-Yr Ann. Avg.

Past Year

1-Yr Forecast

Employment Growth 2.5% 3.2%Mortgage Rates 4.1% 3.9%Supply Growth 1.9% 1.8%Demand Growth 2.9% 2.4%Occupancy Rate 92.4% 94.9%Rent Growth 3.0% 3.3%

Jax Fast FactsJacksonville Metro Population 1,448,558Average Household Income $73,327Labor Force 745,702Unemployment Rate 4.7%Number of Public Schools 323Number of Colleges & Universities 20

Top 10 EmployersNaval Air Station Jacksonville 25,000Mayport Naval Station 12,912Baptist Health System 8,774Publix Supermarkets, Inc. 8,583Wal-Mart Stores, Inc. 7,760Winn-Dixie Stores 7,000Bank of America Merrill Lynch 6,400Mayo Clinic 5,000St. Vincents Health System 4,918JP Morgan Chase & Co. 4,877

“Two of America’s Top 40 High Schools”

Jacksonville is Home to Two of Newsweek’s Top 40 High Schools in

the U.S.Newsweek

October 2016

“12th Most People Added in Any City”

Jacksonville adds the #12 Most People of Any City in the U.S.

U.S. Census BureauMay 2016

Ranked #2 in Where Americans are Moving

Now”Jacksonville is the #2 City Where Americans are Moving Right Now

Realtor.comOctober 2016

Contact Us

BRADLEY COE, MBA, MRE+1 904 358 1206 | EXT 1158JACKSONVILLE, FL [email protected]

DOUGLAS BLAIR, MSW +1 904 358 1206 | EXT 1101JACKSONVILLE, FL [email protected]

COLLIERS INTERNATIONAL |NORTHEAST FLORIDA50 N. Laura Street, Suite 1725Jacksonville, FL 32202www.colliers.com/jacksonville

COLLIERS INTERNATIONAL Multifamily Advisory Group

COLLIERS INTERNATIONAL Land Advisory Group

“Top 40 Best Places for Business and

Careers”Jacksonville’s is in Top 40 Best Cities to Start a Business or Career

ForbesOctober 2016

“11th of the Best Cities for Culture”

Jacksonville ranked 11th of the Best U.S. Cities

for Culture

Business InsiderOctober 2016


for sale > multifamily land puckett’s creek sanctuary · 2017. 2. 23. · accommodate aircraft...

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