Little River Plaza

Offering Memorandum LITTLE RIVER PLAZA LITTLE RIVER PLAZA 2.63-Acre Lot | 399 NE 82nd Terrace | Miami, FL 33138 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 Florida, 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. Non-Endorsement Notice Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. LITTLE RIVER PLAZA Miami, FL ACT ID Z0240149 LITTLE RIVER PLAZA TABLE OF CONTENTS SECTION INVESTMENT OVERVIEW 01 Executive Summary Investment Overview Aerials Aerial Map Regional Map Local Map Nearby Points of Interest Proposed Site Plan ZONING REGULATIONS 02 Zoning Code MARKET OVERVIEW 03 Market Analysis Demographic Analysis LITTLE RIVER PLAZA INVESTMENT OVERVIEW WESTVIEWLITTLE RIVER LAND PLAZA OFFERINGOFFERING SUMMARY SUMMARY EXECUTIVE SUMMARY THE OFFERING Price $2,700,000 MAJOR EMPLOYERS Down Payment 100% / $2,700,000 Loan Type All Cash Property Address 399 NE 82nd Terrace, Miami, FL EMPLOYER # OF EMPLOYEES * SITE DESCRIPTION Bursars Office 4,418 Lot Size (SF) 114,563 County Miami Dade AVI Dept 4,000 Price/SF $23.57 Miami Dade Transit 4,000 Lot Size (Acres) 2.63 Nephrology Division 4,000 Price/Acre $1,026,615 County of Miami-Dade 3,068 Number of Units 47 Miami Vamc 3,000 Price/Buildable Unit $57,447 Number of Lots 1 Miami Dade College 2,835 Price/Lot $2,700,000 Aluma Craft Products 2,800 Zoning T3-O Fontainebleau Miami Beach 2,500 Assessor’s Parcel Number 01-3207-020-0310 Medical Center Campus 2,500 Type of Ownership Fee Simple Mount Sinai Med Ctr Fla Inc 2,370 Frontage NE 4th Avenue University of Miami Hospital 1,800 Traffic Counts 17,500 Cars per Day (NE 82nd Street) DEMOGRAPHICS 1-Miles 3-Miles 5-Miles 2018 Estimate Pop 26,598 180,564 503,590 2010 Census Pop 23,728 163,382 456,943 2018 Estimate HH 10,415 64,102 181,605 2010 Census HH 9,301 58,164 164,713 Median HH Income $30,671 $33,454 $35,255 Per Capita Income $22,823 $20,209 $22,420 Average HH Income $58,039 $56,259 $61,392 * # of Employees based on 5 mile radius 1# LITTLE RIVER PLAZA OFFERING SUMMARY INVESTMENT OVERVIEW The Little River Plaza land offering is a waterfront 2.63+/- acre site located on the Little River in the northern part of the City of Miami. The site is located on the corner of Northeast 82nd Terrace and 4th Avenue, one block north of Northeast 82nd Street. Northeast 82nd Street is the main west corridor from the North Beach sectionofMiami Beach and North Bay Village to the City of Miami. The site is zoned T3-O which allows for 18 units per acre. (For additional zoning information please refer to Section 2). The Little River area of Miami is one of Miami’s oldest neighborhoods and was first established in the late 1800’s and incorporated into the city of Miami in 1925. The neighborhood is bordered to the north by El Portal, to the west by Interstate 95, to the south by Little Haiti, and to the east by Biscayne Boulevard (US-1). The Little River area has seen the beginning of a resurgence of new businesses, entertainment, restaurants and artists moving into the area as submarkets to the south continue to grow and develop. There are several large new developments planned to the south of the subject on Northeast 79th Street as well as a few blocks east on BiscayneBoulevard and to the west on Northeast 2nd Avenue. There have also been talks of a Tri-Rail Coastal Link station a block south of the subject property. Little River Plaza is listed for $2,700,000 which breaks down to $23.57 per square foot and $57,447 per buildable unit. INVESTMENT HIGHLIGHTS . 2.63 +/- Acres of Waterfront Land Located in Northeast Miami . Little River Plaza is Located in the Rapidly Appreciating Little River Area . Many New Developments Are in the Process in the Immediate Area . Walking Distance to Shopping and Entertainment . Just West of Biscayne Boulevard Off Northeast 82nd Street . Close to Major Thoroughfares LITTLE RIVER PLAZA AERIALS LITTLE RIVER PLAZA AERIALS Downtown Miami Biscayne Bay Biscayne Boulevard NE 82nd Street LITTLE RIVER PLAZA LITTLE RIVER PLAZA REGIONAL MAP LITTLE RIVER PLAZA LITTLE RIVER PLAZA LOCAL MAP LITTLE RIVER PLAZA LITTLE RIVER PLAZA NEARBY POINTS OF INTEREST 1 « LITTLE RIVER PLAZA 1. Miami Shores Country Club 2. Miami Shores Neighborhood 2 3. El Portal Neighborhood 4. Triton Center (in development) 5. Tri Rail 6. Eden - Mixed Use Property (in development) 7. Miami Ironside (mixed use urban center) 8. Mimo District 3 LITTLE RIVER PLAZA 5 4 6 8 7 LITTLE RIVER PLAZA NEARBY POINTS OF INTEREST « LITTLE RIVER PLAZA Biscayne Bay 1. Triton Center Downtown Miami (in development) 2. Tri Rail 3. Eden - Mixed Use Property (in development) 4. Miami Ironside (mixed use urban center) 5. Mimo District Biscayne Boulevard5 1 NE 79th Street LITTLE RIVER PLAZA 4 2 3 LITTLE RIVER PLAZA PROPOSED SITE PLAN LITTLE RIVER PLAZA ZONING REGULATIONS LITTLE RIVER PLAZA ZONING CODE Types of T3 Zones Regulating use is an important component of any zoning code. In T3 zones, neighborhood types are influenced by the functions and uses of the existing buildings and historical conditions. Restricted (R) residential single family ONLY Limited (L) residential single family AND ancillary units (granny flats) Open (O) residential single family AND two family residence (duplex) REGULATION OF USES RL O Residential Illustration of a T3 R Single Family Residence R RR Community Residence R RR Ancillary Unit R Two Family Residence R R = the use is permitted by Right Multi Family Housing W = the use is permitted by Warrant E = the use is permitted by Exception Dormitory Home Office R RR Live - Work Work - Live Civic Community Facility Recreational Facility E EE Religious Facility E EE Civil Support Infrastructure & Utilities W WW Educational Elementary School E EE Middle / High School E EE Pre-School E EE LITTLE RIVER PLAZA ZONING CODE Specific to T3 Zones BUILDING DISPOSITION Building Disposition describes where the building sits in relation to the lot or parcel. The following are a summary of the specific regulations that apply to building disposition in a T3 zone. The diagrams below explain building setback requirements. In Miami 21, entrances must face the principal frontage. LOT OCCUPATION a. Lot Area 5000 sq.ft min. b. Lot Width 50 ft. min. 50% max. first floor c. Lot Coverage 30% max. second floor (T3 R & T3 L only) d. Floor Lot Ratio (FLR) n/a e. Frontage at front setback n/a f. Green space Requirements 25% lot area min. T3 R=9 du/acre max.; g. Density T3 L=9 du/acre max.; T3 O=18 du/acre max; BUILDING SETBACK a. Principal Front 20 ft. min. b. Secondary Front 10 ft. min. 5 ft. min. 20% lot width c. Side total min. d. Rear 20 ft. min. OUTBUILDING SETBACK (T3 L ONLY) a. Principal Front 20 ft. min. b. Secondary Front 10 ft. min. c. Side 5 ft. min. d. Rear 5 ft. min. LITTLE RIVER PLAZA MIAMI 21 ARTICLE 5. SPECIFIC TO ZONES ZONING CODE AS ADOPTED - MAY 2017 5.3 SUB-URBAN TRANSECT ZONES (T3) have a �ve (5) foot minimum side and rear Setback. 5.3.1 Building Disposition (T3) d. All outdoor storage, electrical, plumbing, mechanical, and communications equipment and ap- purtenant enclosures, shall be located within the Second or Third Layer and concealed from view a.

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