13.73 Acres - Turnpike Frontage / Nw 90 Street (Doral Area) Miami Fl 33178 Non - Endorsement and Disclaimer Notice
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Offering Memorandum 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 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. 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 MIAMI , FL ACT ID Z0390549 2 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 INVESTMENT OVERVIEW 3 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 OFFERING SUMMARY INVESTMENT OVERVIEW Marcus & Millichap is proud to present scarce TURNPIKE FRONTAGE OF VACANT LAND WITH A LAKE VIEW. Located next to the prime City of DORAL in Miami-Dade County, Florida. The Property, 13.733 Acres (660' x 906.42' = 598,703 sq. ft.), is a Vacant Land Investment to be Land Banked at a low price of $3.51 sq. ft., for future development. Currently Zoned General Use Interim. Bordering just outside the Miami-Dade County Urban Development Boundary line (UDB). Periodically, the UDB is moved to include additional property as remaining land inventory for development declines. Accordingly, the potential is for zoning transformation and significant price appreciation. Within several hundred feet of the Property is significant Commercial & Industrial development (Flagler Station) and development both North and South along the Turnpike, companies such as: Telemundo, Ryder Trucks and IKEA. American Dream Miami, the largest mall in USA , will soon be constructed by 2022 at an estimated cost of $4 Billion, within six miles of the Property. INVESTMENT HIGHLIGHTS ▪ Turnpike Frontage (High Visibility) ▪ Doral and MIA Minutes Away ▪ Transitional Area-Land Bank Investment ▪ Low Price - Outside UDB ▪ Lake View 4 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 OFFERING SUMMARY PROPERTY SUMMARY THE OFFERING PROPOSED FINANCING Property 13.73 ACRES Loan Amount $1,050,000 Price $2,100,000 Loan Type Seller Financing TURNPIKE FRONTAGE - NW 90 Loan Term 3 Years / Balloon Property Address STREET, MIAMI , FL Loan to Value 50% SITE DESCRIPTION Lot Size (SF) 598,079 Price/SF $3.51 Lot Size (Acres) 13.73300 Price/Acre $152,950 Type of Ownership Fee Simple 5 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 SUBJECT PROPERTY 6 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 SURVEY 7 8 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 REGIONAL MAP AMERICAN DREAM MIAMI MALL (2022) FLAGLER STATION OFFICE / INDUSTRIAL PARK SUBJECT PROPERTY MIA BEACON LAKES DOLPHIN MALL OFFICE / INDUSTRIAL PARK 8 9 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 AMERICAN DREAM MIAMI MALL (2022) 9 10 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 FlLAGLER STATION BUSINESS PARK 10 11 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 TOP GOLF 11 12 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 Telemundo SUBJECT PROPERTY: 13.73 ACRES TURNPIKE FRONTAGE (3 MILES) 12 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 DOLPHIN MALL 13 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 AERIAL PHOTO 14 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 FINANCIAL ANALYSIS 15 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA)(DORAL MIAMI AREA) FL MIAMI 33178 FL 33178 OFFERINGFinancial SUMMARY Analysis EXECUTIVE SUMMARY OFFERING SUMMARY MAJOR EMPLOYERS Price $2,100,000 # OF EMPLOYEES Down Payment 50% / $1,050,000 EMPLOYER Loan Amount $1,050,000 * Carnival 7,574 Loan Type Seller Financing MDPD Budget Plng & 4,580 Amortization 3 Years / Interest / Balloon Resrce Mng Lot Size (SF) 598,079 Univision Holdings Inc 4,229 Price/SF $3.51 Ryder 3,394 Carnival Celebration Inc 3,296 Lot Size (Acres) 13.73 acre(s) Hialeah Campus 2,835 Lot Dimension 660.18 ft x 906.41 ft Sedanos Supermarkets 2,500 Price/Acre $152,950 County of Miami-Dade 1,648 Property Tax (2017) $5,409.48 Gryphon Investors Inc 1,547 Type of Ownership Fee Simple Palmetto General Hospital 1,400 Folio Number 30-3901-001-0140 Fire Dept 1,300 Flight Standards Dst Off 19 1,103 DEMOGRAPHICS 1-Miles 3-Miles 5-Miles 2017 Estimate Pop 7,453 44,542 176,961 2010 Census Pop 5,456 38,727 160,011 2017 Estimate HH 2,072 13,708 55,910 2010 Census HH 1,536 11,965 50,676 Median HH $66,019 $44,591 Income $68,657 Per Capita Income $23,795 $26,987 $20,195 Average HH $87,665 $63,328 Income $85,597 * # of Employees based on 5 mile radius 16# 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 Recap: FINANCIAL ANALYSIS PROPERTY SUMMARY The Offering Land Price $2,100,000 Land Price/SF $3.51 Land Price/Acre $152,950 Development Type Investment Financing Seller Financing 50% LTV Amortization 3 Years / Balloon 17 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 ACQUISITION FINANCING MARCUS & MILLICHAP CAPITAL CORPORATION WHY MMCC? CAPABILITIES Optimum financing solutions to enhance value MMCC—our fully integrated, dedicated financing arm—is committed to providing superior capital market expertise, precisely managed execution, and unparalleled access to capital sources providing the most competitive rates and Our ability to enhance buyer terms. pool by expanding finance options We leverage our prominent capital market relationships with commercial banks, life insurance companies, CMBS, private and public debt/equity funds, Fannie Mae, Freddie Mac and HUD to provide our clients with the greatest range of Our ability to enhance financing options. seller control • Through buyer Our dedicated, knowledgeable experts understand the challenges of financing qualification support and work tirelessly to resolve all potential issues to the benefit of our clients. • Our ability to manage buyers finance expectations • Ability to monitor and manage buyer/lender progress, insuring timely, predictable closings • By relying on a world class Closed 1,707 National platform $5.63 billion Access to more set of debt/equity sources debt and equity operating total national capital sources financings within the firm’s volume in 2017 than any other and presenting a tightly in 2017 brokerage offices firm in the underwritten credit file industry 18 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 MARKET COMPARABLES 19 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET (DORAL AREA) MIAMI FL 33178 SALES COMPARABLES MAP SUBJECT PROPERTY 1 5920 NW 122 Avenue COMPARABLE SALES 2 NW 50TH ST AND 118TH AVE SUBJECT PROPERTY PRICE $3.51/SQ FT TURNPIKE FRONTAGE SOLD APRIL 2018 $3.17/SQ FT NO TURNPIKE FRONTAGE SOLD SEPTEMBER 2016 $2.02/ SQ FT NO TURNPIKE FRONTAGE SALES COMPARABLES 20 13.73 ACRES - TURNPIKE FRONTAGE / NW 90 STREET PROPERTY NAME (DORAL AREA) MIAMI FL 33178 SALES COMPARABLES SALES COMPARABLES SALES COMPS AVG Average Price Per Square Foot Average Price Per