Springwood & Le Club Villas
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SPRINGWOOD & LE CLUB VILLAS OFFERING MEMORANDUM 4355 84th Ave N, Pinellas Park, FL 33781 PRESENTED BY | Kevin Kelleher • 813.839.7300 x0318 • [email protected] SPRINGWOOD & LE CLUB VILLAS | PINELLAS PARK | FLORIDA CONFIDENTIALITY AGREEMENT EXCLUSIVELY LISTED BY: This is a confidential Offering Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest into the acquisition of the Subject Property. Kevin Kelleher Senior Director This Offering Memorandum contains selected information pertaining to the Property and does not purport to be a representation of state of affairs of the Owner or the Property, [email protected] to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and 813.839.7300 x0318 information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition, and other factors beyond the control of the Owner or Franklin Street Real Estate Services, LLC. Therefore, all projections, assumptions, and other information provided and made herein are Darron Kattan subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to all interested and qualified prospective purchasers. Neither the Owner or Franklin Street Real Estate Services, LLC. , nor any of their Managing Director respective directors, officers, affiliates or representatives are making any representation or warranty, expressed or implied, as to the accuracy or completeness of this Offering [email protected] Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Offering Memorandum or use of its contents; and you 813.839.7300 x0315 are to rely solely on your own investigations and inspections of the Property in evaluating a possible purchase of the real property. Zach Ames The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase Property, and/or to terminate discussions with any Senior Director entity at any time with or without notice which may arise as a result of review of this Offering Memorandum. The Owner shall have no legal commitment or obligation to any [email protected] entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully 813.839.7300 x0373 executed, delivered, and approved by the Owner and any obligations therein have been satisfied or waived. Avery Jordan By receipt of the Offering Memorandum, you agree that this Offering Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest Senior Associate confidence and that you will not disclose this Offering Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or the Franklin [email protected] Street Real Estate Services, LLC. Furthermore, you agree not to use this Offering Memorandum or any of its contents in a manner detrimental to the interest of the Owner or 813.839.7300 x0293 Franklin Street Real Estate Services, LLC. Mark Savarese In this Offering Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor Associate necessarily accurate descriptions of the full agreements referenced. Interested parties are so advised and expected to review all such summaries and other documents of [email protected] whatever nature independently and not to rely on the contents of this Offering Memorandum in any manner. 813.839.7300 x0279 ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR FRANKLIN STREET REAL ESTATE SERVICES, LLC AGENT FOR MORE DETAILS. 2 PROPERTY INFORMATION LOCATION OVERVIEW FINANCIAL ANALYSIS SALE COMPARABLES RENT COMPARABLES FRANKLIN STREET SPRINGWOOD & LE CLUB VILLAS | PINELLAS PARK | FLORIDA TABLE OF CONTENTS IN THIS OFFERING MEMORANDUM PROPERTY INFORMATION RENT COMPARABLES Executive Summary 4 Rent Comps Map 38 Property Details Rent Comps Property Description Rent Comps Summary Additional Photos Rent Comps Chart Amenity Photos FRANKLIN STREET LOCATION OVERVIEW About Us 46 Location Overview 10 Client Services Regional Map Back Page Local Map Development Map Aerial Map - Le Club Villas Aerial Map - Springwood St. Petersburg Area Overview St. Pete Pier Redevelopment Tropicana Field Redevelopment St. Pete Innovation Center Demographics Map & Report FINANCIAL ANALYSIS Unit Mix 24 Income & Expenses Pricing & Financial Analysis Preliminary Debt Quotes SALE COMPARABLES Sale Comps Map 29 Sale Comps Sale Comps Summary Sale Comps Chart Sale Comps Summary Sale Comps Chart PROPERTYPROPERTY INFORMATION INFORMATION LOCATION OVERVIEW FINANCIAL ANALYSIS SALE COMPARABLES RENT COMPARABLES FRANKLIN STREET 3 Executive Summary 4 Property Details RENT COMPARABLES Property Description Rent Comps Map 38 Additional Photos Rent Comps Amenity Photos Rent Comps Summary Rent Comps Chart LOCATION OVERVIEW Location Overview 10 FRANKLIN STREET Regional Map About Us 46 Local Map Client Services Development Map Back Page Aerial Map - Le Club Villas Aerial Map - Springwood St. Petersburg Area Overview St. Pete Pier Redevelopment Tropicana Field Redevelopment St. Pete Innovation Center Demographics Map & Report FINANCIAL ANALYSIS Unit Mix 24 Income & Expenses Pricing & Financial Analysis Preliminary Debt Quotes SALE COMPARABLES Sale Comps Map 29 Sale Comps Sale Comps Summary Sale Comps Chart PROPERTY INFORMATION Executive Summary 4 Property Details RENT COMPARABLES Property Description Rent Comps Map 38 Additional Photos Rent Comps Amenity Photos Rent Comps Summary Rent Comps Chart LOCATION OVERVIEW Location Overview 10 FRANKLIN STREET Regional Map About Us 46 Local Map Client Services Development Map Back Page Aerial Map - Le Club Villas Aerial Map - Springwood St. Petersburg Area Overview St. Pete Pier Redevelopment Tropicana Field Redevelopment St. Pete Innovation Center Demographics Map & Report FINANCIAL ANALYSIS Unit Mix 24 Income & Expenses Pricing & Financial Analysis Preliminary Debt Quotes SALE COMPARABLES Sale Comps Map 29 Sale Comps Sale Comps Summary Sale Comps Chart PROPERTY INFORMATION Executive Summary 4 Property Details RENT COMPARABLES Property Description Rent Comps Map 38 Additional Photos Rent Comps Amenity Photos Rent Comps Summary Rent Comps Chart LOCATION OVERVIEW Location Overview 10 FRANKLIN STREET Regional Map About Us 46 Local Map Client Services Development Map Back Page Aerial Map - Le Club Villas Aerial Map - Springwood St. Petersburg Area Overview St. Pete Pier Redevelopment Tropicana Field Redevelopment St. Pete Innovation Center Demographics Map & Report FINANCIAL ANALYSIS Unit Mix 24 Income & Expenses Pricing & Financial Analysis Preliminary Debt Quotes SALE COMPARABLES Sale Comps Map 29 Sale Comps Sale Comps Summary Sale Comps Chart PROPERTY INFORMATION Executive Summary 4 Property Details RENT COMPARABLES Property Description Rent Comps Map 38 Additional Photos Rent Comps Amenity Photos Rent Comps Summary Rent Comps Chart LOCATION OVERVIEW Location Overview 10 FRANKLIN STREET Regional Map About Us 46 Local Map Client Services Development Map Back Page Aerial Map - Le Club Villas Aerial Map - Springwood St. Petersburg Area Overview St. Pete Pier Redevelopment Tropicana Field Redevelopment St. Pete Innovation Center Demographics Map & Report FINANCIAL ANALYSIS Unit Mix 24 Income & Expenses Pricing & Financial Analysis Preliminary Debt Quotes SALE COMPARABLES Sale Comps Map 29 Sale Comps Sale Comps Summary Sale Comps Chart PROPERTY INFORMATION Executive Summary 4 Property Details RENT COMPARABLES Property Description Rent Comps Map 38 Additional Photos Rent Comps Amenity Photos Rent Comps Summary Rent Comps Chart LOCATION OVERVIEW Location Overview 10 FRANKLIN STREET Regional Map About Us 46 Local Map Client Services Development Map Back Page Aerial Map - Le Club Villas Aerial Map - Springwood St. Petersburg Area Overview St. Pete Pier Redevelopment Tropicana Field Redevelopment St. Pete Innovation Center Demographics Map & Report FINANCIAL ANALYSIS Unit Mix 24 Income & Expenses Pricing & Financial Analysis Preliminary Debt Quotes SALE COMPARABLES Sale Comps Map 29 Sale Comps PROPERTY INFORMATION SPRINGWOOD & LE CLUB VILLAS | PINELLAS PARK | FLORIDA EXECUTIVE SUMMARY OFFERING SUMMARY PROPERTY HIGHLIGHTS • Strategic Value-Add Opportunity with Select Interior and Exterior Renovations Allowing $100 - $150 in Rent Upside Sale Price: $12,750,000 • All 1980's Built Single-Story Villa Style Units With Central Heat & Air Price / SF: $140.26 • 75% of Units Have Upgraded Vinyl Plank Flooring Throughout Price / Unit: $89,161 • Extra Land Available to Construct Additional Units, Clubhouse, or Amenity Space Number Of Units: 143 • Full-Size Washer & Dryer Connections at Springwood With the Ability to Extract Additional Income by Providing the Machines Lot Size: 11.28 Acres • Centralized Location Providing Easy Access to Many Economic Drivers Including Downtown St. Petersburg and Several of its World Famous Beaches Building Size (SF): 90,900 • Located in Pinellas County, the Most Dense