Aventura Park EXCLUSIVE 179th & West Dixie Hwy. LISTING Development Miami, FL 33160 Opportunity ACTUAL PROPERTY PHOTO The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is in- CONFIDENTIALITY tended to be reviewed only by the party receiving it from Tiktin Real Estate Investment Services and should not be made available to any other person or entity without the written consent of Tiktin Real Estate Investment AND DISCLAIMER Services. 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. Tiktin Real Estate Investment Services 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 finan- cial 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, Tiktin Real Estate Investment Services has not verified, and will not verify, any of the information contained herein, nor has Tiktin 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. NON-ENDORSEMENT NOTICE: Tiktin Real Estate Investment Services, Inc. (“Tiktin”) is not affiliated with, sponsored by, or endorsed by any com- mercial 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 Tiktin, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Tiktin, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. Tiktin is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this mar- keting 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 Tiktin, its affiliates or subsidiaries, or any agent, prod- uct, service, or commercial listing of Tiktin, 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 TIKTIN REAL ESTATE INVESTMENT SERVICES AGENT FOR MORE DETAILS. 2 FINANCIAL ANALYSIS Pricing Analysis . .5 TABLE OF Pro-Forma Analysis. 6-7 EXECUTIVE SUMMARY CONTENTS Investment Overview . .9 Zoning Analysis . .10 PROPERTY DESCRIPTION Property Details . .11 Local Aerial . .12 Site Plan . .13-14 Local Photo/Aerial Photo . .15-16 Regional Map . .17 MARKET OVERVIEW Market Overview . 19-23 COMPETITIVE PROPERTY SET Rent Comparables Map - Retail . 25 Rent Comparables - Retail . .26-28 Sales Comparables Map - Retail . .30 Sales Comparables - Retail . .31-34 Sales Comparables Map - Multifamily . .36 Sales Comparables - Multifamily . 37-39 Sales Comparables Map - Land . .41 Sales Comparables - Land . .42-44 DEMOGRAPHIC Demographic Summary . .46-47 3 FINANCIAL ANALYSIS PRICING ANALYSIS AVENTURA PARK DEVELOPMENT OPPORTUNITY FINANCIAL 179th & West Dixie Hwy, Miami, FL 33160 OFFERING PRICE ANALYSIS Price $10,500,000 Down Payment 100% / $10,500,000 Lot Size (SF) 133,126 SF Price/SF $78.87 Lot Size (Acres) 3.06 Price/Acre $3,431,372.54 Type of Ownership Fee Simple SITE DESCRIPTION Assessor's Parcel Number 30-2209-010-0030; 30-2209-010-0010; 30-2209-010-0010 Zoning OJUS URBAN CENTER - UC-RM Center, UC-MC Center, UC-MC Core 5 PRICING AND FINANCIAL ANALYSIS - PRO FORMA AVENTURA PARK DEVELOPMENT OPPORTUNITY- RETAIL SPACE 179th & West Dixie Hwy, Miami, FL FINANCIAL Total SF: 10,570 SF ANALYSIS Rents Monthly Annual Available Space (NNN): $40.00 $35,233 $422,800 Net Income: $422,800 / 5.50% Sales Price: $7,687,272 Construction Cost ($180/SF) ($1,902,600) Soft Cost (Rental Commission)* ($253,680) Net Profit: $5,530,992 AVENTURA PARK DEVELOPMENT OPPORTUNITY- MULTIFAMILY 179th & West Dixie Hwy, Miami, FL Units 223 Average SF: 1,050 SF Rentable SF: 234,150 SF Common Area SF: 65,850 SF Total SF: 300,000 SF Rents Monthly Annual Units - 223 $2,415 ($2.30/SF) $538,545 $6,462,540 Expenses (35%) ($2,261,889) Net Income: $4,200,651/5.00% Sales Price: $84,013,020 Construction Cost ($200/SF NET) ($46,830,000) Soft Cost (Rental Commission) ($590,950) Net Profit: $36,592,070 *Tenant Improvements and Leasing Commissions calculated using a 6% fee and a 5 year lease. 6 PRICING AND FINANCIAL ANALYSIS - PRO FORMA AVENTURA PARK DEVELOPMENT OPPORTUNITY AGGREGATED 179th & West Dixie Hwy, North Miami Beach, FL FINANCIAL TOTAL BUILD OUT VALUE: MULTIFAMILY: $84,013,020 ANALYSIS RETAIL : $7,687,272 $91,700,292 APPROXIMATE NET PROFIT TO DEVELOPER: MULTIFAMILY: $36,592,070 RETAIL: $5,530,992 PARKING GARAGE:* ($5,940,550) LAND COST: ($10,500,000) NET PROFIT: $25,682,512 *Parking Garage includes 390 parking spaces and a total 118,811 square feet. Cost calculated to build based upon $50 a square foot. 7 EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS ■■ Direct Access Immediately Off of Biscayne Blvd. via 179th Street in Aventura, FL ■■ Can Develop Approximately 223 Residential Units ■■ Incredible Views Overlooking Greynolds EXECUTIVE Park SUMMARY ■■ Projects Is "By Right" and Ready To Build ■■ Corner Location ■■ Tremendous Exposure Along Heavily Traveled West Dixie Hwy. ■■ 133,126 Square Feet of Land for Development INVESTMENT OVERVIEW Tiktin Real Estate Investment Services is pleased to present Aventura Park Development Opportunity. This development opportunity consists of three parcels totaling 133,126 square feet. The parcel is part of the OJUS Urban Center and the zoning consists of UC-RM Center, UC-MC Center, and UC-MC Core. This zoning allows for approximately 223 residential units by right. The subject property is located just southwest of the Aventura Mall, an upscale super-regional shopping mall in Aventura, Florida. Aventura Mall is the largest conventional shopping mall in Florida, having a gross leasable area of 2,700,000 square feet, and is the third largest shopping center in the United States. Just to the north of Aventura, along Biscayne Blvd., is Gulfstream Park which is one of the most highly sought after venues for horse racing in America. The large volume of visitors traveling to and from these destinations results in traffic counts in excess of 62,000 vehicles per day along Biscayne Blvd. located just east of the subject property. 9 EXECUTIVE SUMMARY ZONING ANALYSIS Property Name Aventura Park Development Opportunity Property 179th & West Dixie Hwy., Miami, FL Property Type Development Opportunity Number Of Parcels 3 Zoning Code UC-MC and UC-RM Uses Multifamily, Retail, and Mixed Use Lot Area Combined 133,126 SF (3.06 Acres) Minimum Lot Size 10,000 SF Minimum Lot Width 100' Setback Front 15' Minimum Setback Rear 10' (When no alley or easement) Maximum Height Seven Stories Maximum Density 82 du/ac Maximum Lot Coverage 80% MIXED USE: The vertical or horizontal integration of residential, business and office, and institutional uses shall be permitted as provided herein. Vertical integration allows any combination of primary uses, with business uses typically located on the ground floor and office and/or residential uses on the upper floors. Horizontal integration allows any combination of parcels with different primary uses within the same block. 10 PROPERTY DETAILS THE OFFERING Property Aventura Park Development Opportunity Property Address 179th & W Dixie Hwy., Miami, FL PROPERTY SITE DESCRIPTION DESCRIPTION Lot Size: 133,1260 SF (3.06 Acres) Ownership: FEE SIMPLE PARCELS Number of Tax Parcels 3 Parcel ID 30-2209-010-0030; 30-2209-010-0010; 30-2209-010-0010 Zoning OJUS URBAN CENTER - UC-RM Center, UC-MC Center, UC-MC Core ACCESS POINTS W. Dixie Hwy. 11 PROPERTY DESCRIPTION LOCAL MAP SUBJECT PROPERTY 12 PROPERTY DESCRIPTION LOCAL AREA DEVELOPMENT - SOUTH 5 - PARK SUBJECT PROPERTY MARINA PALMS NOMA - MIXED USE THE HARBOR THE CANOPIES CAMBRIA HOTEL UPTOWN 163 13 PROPERTY DESCRIPTION LOCAL AREA DEVELOPMENT - NORTH FORUM AVENTURA NOMA - MIXED USE AC HOTEL AVENTURA DISTRICT PARK SQUARE AVENTURA SQUARE AVENTURA MALL'S NEW 315,000 SF PRIVE GREYNOLDS VILLAGE SUBJECT PROPERTY 14 PROPERTY DESCRIPTION AERIAL PHOTO SUBJECT PROPERTY 15 PROPERTY DESCRIPTION AERIAL PHOTO 2 SUBJECT PROPERTY 16 PROPERTY DESCRIPTION REGIONAL MAP SUBJECT PROPERTY 17 MARKET OVERVIEW NORTH MIAMI BEACH OVERVIEW In 1912 Lafe Allen, a former newspaper owner, came to Florida. He and an associate purchased Captain Fulford's original grant plus additional property with MARKET the idea of developing and selling lots. Eventually, they purchased 557 acres of land. In 1917, Mr. Allen OVERVIEW made plans for a "perfect city" calling for 80-foot wide residential streets and 100 and 125-foot wide business thoroughfares. North Miami Beach's street layout is as the pioneer pictured it in 1917 with wide avenues named Fulford Boulevard (now known as NE 172nd Street) and Flagler Boulevard (now known as NE 19th Avenue). The Fulford-by-the- Sea Company began selling lots in 1922. During the Florida land boom of the 1920's, lots were sometimes sold eight times before ever being recorded. The hurricane of 1926 essentially ended the South Florida boom, and in an effort to alleviate their losses and the damage to the city, the local residents came together as the Town of Fulford.