Offering Memorandum

NE. 29th Street

NE. 28th Street

EDGEWATER DEVELOPMENT LAND 326 NE 29th Street , FL. & 339 NE 28th Street Miami, FL. NON - ENDORSEMENT AND DISCLAIMER NOTICE

Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap Real Estate Investment Services of , Inc. ("Marcus & Millichap") and should not be made available to any other person or entity without the written consent of Marcus & Millichap. 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. Marcus & Millichap 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, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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 of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

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EDGEWATER DEVELOPMENT LAND Miami, FL ACT ID ZAC0390303 Ryan Nee Florida Broker of Record 5900 N Andrews Ave., Ste. 100 Fort Lauderdale, FL. 33309 P: (954)245-3400 Lic #: BK3154667 2 EDGEWATER DEVELOPMENT LAND

INVESTMENT OVERVIEW

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OFFERINGOFFERING SUMMARY SUMMARY EXECUTIVE SUMMARY

OFFERING SUMMARY MAJOR EMPLOYERS

Price $3,692,000.00 EMPLOYER # OF EMPLOYEES * HIG Surgery Centers LLC 5,100 Total Land (SF) 13,425 Royal Caribbean International 4,900 Ibt Group LLC 4,442 Price/SF $275.00 Bursars Office 4,418 County Miami Dade AVI Dept 4,000 Lot Size (Acres) 0.31 acre(s) Miami Dade Transit 4,000 Nephrology Division 4,000 Price/Acre $11,979,00.00 Royal Caribbean 3,400 County of Miami-Dade 3,017 Allowable Buildable SF 13,425 Miami Vamc 3,000

Number of Lots 2 Aluma Craft Products 2,800 Fontainebleau Miami Beach 2,500

Price/Lot $1,526,250 and $2,165,650

Type of Ownership Fee Simple DEMOGRAPHICS

1-Miles 3-Miles 5-Miles 2020 Estimate Pop 30,791 233,091 525,045 2010 Census Pop 24,222 201,506 471,241 2020 Estimate HH 15,182 98,267 218,206 2010 Census HH 11,616 82,189 192,209 Median HH Income $53,571 $37,310 $41,888 Per Capita Income $40,482 $28,473 $31,111 Average HH Income $81,422 $66,693 $74,262

* # of Employees based on 5 mile radius

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OFFERING SUMMARY INVESTMENT OVERVIEW

Edgewater Development Land Opportunity consists of 2 parcels of prime development land located just east of Biscayne Boulevard on NE 28th and NE 29th Street. 326 NE 29th Street totals 7,875 Square Feet of Land and 339 NE 28th Street totals 5,550 Square Feet of Land with a combined total of 13,425 Square Feet of land available for development in one of South Florida's most dynamic and explosive neighborhoods, Edgewater.

Both Parcels are Zoned T6-36 with allows for a total buildable square footage of 209,430 square feet with bonus (12 FLR + 30% Bonus) or 161,100 square feet without bonus. T6-36 Zoning provides a for development of up to 150 Units per Acre with 36 Floors allowance and up to 60 Floors with Bonus.

Within walking distance of water front on , the immediate area is home to numerous luxury residential developments including , Paraiso, Icon Bay, Crimson, Bay House, Blu27 at Edgewater, Modera Edgewater, Hamilton on the Bay and 22 Skyview just to name a few.

INVESTMENT HIGHLIGHTS

▪ Two Development Land Parcels in Edgewater ▪ 13,425 Square Feet of Prime Development Land ▪ 326 NE 29th Street and 339 NE 28th Street ▪ Located Just East of Biscayne Blvd within Walking Distance of Biscayne Bay

▪ Zoned T6-36

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City of Miami Zoning Code: T6-36

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City of Miami Zoning Code: T6-36

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Development Pipeline Map

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OFFERING SUMMARY PROPERTY SUMMARY

THE OFFERING

Property Edgewater Development Land

Price $3,692,000

326 NE 29th St, Miami, FL Property Address 339 NE 28th St. Miami, FL

SITE DESCRIPTION

Total Land (SF) 13,425

Price/SF $275.00

Lot Size (Acres) 0.3100

Price/Acre $11,979,000

Allowable Buildable SF 209,430 with bonus (12 FLR + 30% Bonus)

Number of Lots 2

Price/Lot $1,526,250 and $2,165,650

Type of Ownership Fee Simple

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LOCAL MAP

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AERIAL PHOTO

Street

th NE NE 28

Biscayne Boulevard

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PROPERTY PHOTO

Edgewater Development Land

BISCAYNE BLVD

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MARKET OVERVIEW

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City of Miami Zoning Code: T6-36

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Edgewater | Market Overview

The Edgewater Market

Tracing the Biscayne Bay shoreline just north of Miami’s Arts and Entertainment District and the (NE 17th Terrace to I-95 and back along E. Coast Avenue) is the pocket-sized neighborhood of Edgewater. This water-facing community could be small in size but is definitely big on potential. Over the past decade, Edgewater has emerged as one of the most loved residential neighborhoods of Miami, with major developers like the Related Group to Melo Group and global brands like Missoni recognizing its value, proximity and community feel by building some of the finest specimens of luxury real estate in their Icon Bay, , and Missoni Baia offerings, respectively.

So, what makes Edgewater so appealing? Was it always this bayside paradise, safe and perfect enough to rank second on niche.com “Best Places for Young Professionals in Miami” and third on the “Best Neighborhoods to Raise a Family in Miami?”.

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Edgewater | Market Overview

The Appeal

Sitting a short walk away from the Perez Art Museum Miami (PAMM), the Frost Science Museum, and Bayfront Park, this waterfront community is a quick drive or scenic bike ride from South Beach. It’s also just a mile from Wynwood’s eclectic art-scape, the Shops at Midtown and the Design District’s high-end shopping. But what makes Edgewater so unique is that it’s anchored by the 8-acre, dog-friendly . This park also sits bayfront, and with tennis and basketball courts, makes for great relaxation and green space at your back door. Plus, Edgewater is serviced by the free Miami Trolley, and is home to one of the main Metrorail stations, boasting of an above-average walk score of 80 (93 if you live close to Margaret Pace Park). With its central location and a median price of $602/sq. ft. for luxury condos (one of the most affordable in Miami), it really is the gold standard of real estate today.

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Edgewater | Market Overview

What’s Next?

Still offering some of the most amazing water views in Miami at relatively affordable prices (compared to South Beach or Mid-Beach), Edgewater has turned into one of the most sought-after and affordable Miami neighborhoods. With more residence, retail, and restaurants slated to make their debut in this family-friendly district, here’s a quick tour of the outstanding condos of Edgewater:

• Tallest Condo Building in Edgewater – Missoni Baia at 646 ft. above ground • 3 Most Expensive Condo Buildings in Edgewater – Gran Paraiso, Paramount Bay, Aria on the Bay • Margaret Pace Park-Facing Condo Buildings – Cite, , , Aria on the Bay, Bay Parc, • Waterfront Condo Buildings in Edgewater – Biscayne 21, New Wave Condo, Star Lofts, Onyx, Bay House, The Crimson, Icon Bay, Moon Bay, Biscayne Beach, Paraiso Bayviews, One Paraiso, Bay Park Towers, The Charter Club • Upcoming (pre-construction) Condo Buildings – Elysee, Missoni Baia, Biscayne 27, Island Bay

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MARKETINGDEMOGRAPHICS TEAM Created on April 2021

POPULATION 1 Miles 3 Miles 5 Miles HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2025 Projection ▪ 2020 Estimate Total Population 33,877 245,657 541,625

$250,000 or More 4.32% 3.29% 4.11% ▪ 2020 Estimate

Total Population 30,791 233,091 525,045 $200,000 - $249,999 2.74% 1.92% 2.24%

▪ 2010 Census $150,000 - $199,999 3.64% 3.51% 4.18% Total Population 24,222 201,506 471,241

$125,000 - $149,999 4.14% 2.75% 3.00% ▪ 2000 Census

Total Population 18,870 178,188 442,150 $100,000 - $124,999 8.62% 5.72% 5.89%

▪ Daytime Population $75,000 - $99,999 11.07% 8.11% 9.10% 2020 Estimate 43,462 337,524 669,853 $50,000 - $74,999 19.05% 14.80% 15.37% HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2025 Projection $35,000 - $49,999 12.83% 11.81% 11.76%

Total Households 17,066 105,722 227,945 $25,000 - $34,999 8.13% 9.78% 10.07% ▪ 2020 Estimate $15,000 - $24,999 9.59% 14.08% 13.39% Total Households 15,182 98,267 218,206

Average (Mean) Household Size 1.99 2.29 2.36 Under $15,000 15.87% 24.23% 20.89%

▪ 2010 Census Average Household Income $81,422 $66,693 $74,262

Total Households 11,616 82,189 192,209 Median Household Income $53,571 $37,310 $41,888 ▪ 2000 Census

Total Households 7,657 65,445 171,025 Per Capita Income $40,482 $28,473 $31,111

Source: © 2020 Experian

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MARKETINGDEMOGRAPHICS TEAM Created on April 2021

POPULATION PROFILE 1 Miles 3 Miles 5 Miles POPULATION PROFILE 1 Miles 3 Miles 5 Miles ▪ Population by Age

0 to 4 Years 5.70% 6.42% 5.95% ▪ Population 25+ by Education Level 5 to 14 Years 7.32% 9.50% 9.31%

15 to 17 Years 1.97% 2.58% 2.65% 2020 Estimate Population Age 25+ 23,998 171,928 392,222

18 to 19 Years 1.28% 1.65% 1.71%

20 to 24 Years 5.80% 6.08% 5.67% Elementary (0-8) 6.88% 11.97% 10.40%

25 to 29 Years 11.55% 9.69% 8.48%

30 to 34 Years 13.69% 10.26% 9.06% Some High School (9-11) 9.12% 10.70% 9.60%

35 to 39 Years 11.30% 8.58% 7.95%

40 to 49 Years 15.73% 13.86% 14.25% High School Graduate (12) 20.23% 26.95% 28.00%

50 to 59 Years 12.35% 12.94% 13.67%

60 to 64 Years 4.31% 4.84% 5.27% Some College (13-15) 13.43% 12.26% 12.46%

65 to 69 Years 3.18% 3.93% 4.37%

Associate Degree Only 9.79% 6.77% 7.15% 70 to 74 Years 2.39% 3.35% 3.81%

75 to 79 Years 1.56% 2.59% 3.05%

Bachelors Degree Only 23.35% 16.55% 17.52% 80 to 84 Years 1.03% 1.83% 2.28%

Age 85+ 0.85% 1.89% 2.52% Graduate Degree 15.48% 12.02% 12.16% Median Age 36.10 37.11 39.48

Source: © 2020 Experian

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MARKETINGDEMOGRAPHICS TEAM

Population Race and Ethnicity In 2020, the population in your selected geography is 30,791. The The current year racial makeup of your selected area is as follows: population has changed by 63.17% since 2000. It is estimated that the 68.58% White, 18.33% Black, 0.05% Native American and 2.14% population in your area will be 33,877.00 five years from now, which Asian/Pacific Islander. Compare these to US averages which are: represents a change of 10.02% from the current year. The current 69.84% White, 12.88% Black, 0.20% Native American and 5.75% population is 53.10% male and 46.90% female. The median age of the Asian/Pacific Islander. People of Hispanic origin are counted population in your area is 36.10, compare this to the US average independently of race. which is 38.21. The population density in your area is 9,815.87 people per square mile. People of Hispanic origin make up 60.31% of the current year population in your selected area. Compare this to the US average of 18.38%.

Households Housing There are currently 15,182 households in your selected geography. The median housing value in your area was $301,909 in 2020, The number of households has changed by 98.28% since 2000. It is compare this to the US average of $221,068. In 2000, there were estimated that the number of households in your area will be 17,066 2,289 owner occupied housing units in your area and there were 5,368 five years from now, which represents a change of 12.41% from the renter occupied housing units in your area. The median rent at the current year. The average household size in your area is 1.99 time was $469. persons.

Income Employment In 2020, the median household income for your selected geography is In 2020, there are 22,389 employees in your selected area, this is also $53,571, compare this to the US average which is currently $62,990. known as the daytime population. The 2000 Census revealed that The median household income for your area has changed by 113.86% 54.45% of employees are employed in white-collar occupations in this since 2000. It is estimated that the median household income in your geography, and 45.18% are employed in blue-collar occupations. In area will be $60,250 five years from now, which represents a change 2020, unemployment in this area is 5.16%. In 2000, the average time of 12.47% from the current year. traveled to work was 29.00 minutes.

The current year per capita income in your area is $40,482, compare this to the US average, which is $34,935. The current year average household income in your area is $81,422, compare this to the US average which is $90,941.

Source: © 2020 Experian

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8 DEMOGRAPHICS

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