OFFERING MEMORANDUM Crystal Pointe Mobile Home … Pointe.pdfrepresentation about it. It is...

KW COMMERCIAL

708 E Colonial Drive

Orlando, FL 32803

Crystal Pointe Mobile Home Subdivision

OFFERING MEMORANDUM

PRESENTED BY:

VP Investment Sales

407.284.7774

[email protected]

MICHAEL FRYBroker [email protected] #BK3220138

MARK ARNOLD

PRIME FLORIDA MANUFACTURED HOME COMMUNITY DEVELOPMENT OPPORTUNITY - DUNNELLON, FL

OFFERING MEMORANDUM

www.kwcommercial.com 2

KW COMMERCIAL

708 E Colonial Drive

Orlando, FL 32803

Confidentiality & Disclaimer

OFFERING MEMORANDUM

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third partysources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance orlack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projectedfinancial performance of the property for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as toaccuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source,whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence todetermine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct duediligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspectionsand investigations including through appropriate third party independent professionals selected by such party. All financial data should beverified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independentprofessionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financialdata or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by theparty with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions shouldbe discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complieswith applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by Orlando Central in compliance with all applicable fairhousing and equal opportunity laws.

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty orrepresentation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, orwithdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance ofthe property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

PRESENTED BY:

VP Investment Sales

407.284.7774

[email protected]

MICHAEL FRYBroker [email protected] #BK3220138

MARK ARNOLD


http://www.kwcommercial.com

Executive Summary



10 Miles to Gulf of Mexicao

50 Miles to Tampa

80 Miles to Orlando

Investment Opportunity

Comprehensive Development and Re-Sale Strategy

Development or Sale of Commercial Frontage

Re-sale of Existing Homes Sites

Development of 2 Phases – 190 Home Sites

Re-sale of Developed Sites Individually or In Bulk

Purchased and Developed Sites Can Be Rented

SALE PRICE: $1,838,000

PROPERTY SIZE: 91.58 Acres

COMMERCIAL PARCELS: 2 - 3.5 Acres Each

EXISTING HOME SITES: 16

APPROVED HOME SITES: 190

HOA AMENITIES: Club House-Pool

ZONING: Manufactured Homes

MARKET: Florida's Nature Coast

PROPERTY ADDRESS: CR 495 & W. Dunklin Rd

Ideal for investor/developer or institutional buyer seeking an opportunity to create an attractive manufactured home residential community with Old Florida/Country charm, HOA amenities, tree shaded common areas, conservation areas, premium lots and hiking trails.

The Crystal Pointe Mobile Home Community offers an investor/developer the opportunity to acquire and repackage the sale of 16 existing improved individual mobile home sites; two adjacent commercial parcels with highway frontage at the park entrance; and the phased development of 190 approved manufactured home sites.


PROPERTY OVERVIEW

The two commercial parcels along CR495 consist of 3.85 (+/-) acres each. The 16 improved mobile home sites are ready for re-sale and are interspersed through-out the 65 unit Phase I section of the complex. Phase I sites range in size from .25 to .33 acres. Phases II and III comprise 79.63 (+/-) acres of unimproved wooded acres. Phases II and III are approved for 190 to- be-developed pre-platted mobile home sites. The improved and to-be-developed parcels will have use of HOA recreational areas and an existing 5,500 SF club house and 67,000 gallon heated pool. The community can be age restricted, land lease, fee simple or mixed.

The development will be attractive to investors and developers and would be an outstanding opportunity for an on-site owner or retiree with experience in mobile home park management and development. The development of an age restricted community in an option. The sell-out of existing home sites and the strategic marketing of sites within the staged development of Phases II & III provide an opportunity of investment returns over multiple years.

The re-development of Crystal Point Development properties would create an Old Florida/country oriented mobile home subdivision with large lots, HOA amenities, tree shaded common areas, conservation areas, premium lots and hiking trails.

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Property Description




Crystal Pointe Development


PROPERTY HIGHLIGHTS

• 2 Commercial Parcels (3.8 Acres Each)

• 16 Improved Manufactured Home Sites (.25-.33 Acres Each)

• 190 Approved Home Sites on 80 Acres

• Within 110 Acre Subdivision

• Phases II & III Ready for Development

• Wooded Lots

• Zoning: Manufactured Homes

• Fee Simple Lots

• Optional Use: Age 55+

• 5,500 SF Clubhouse

• 67,000 Gallon Heated Pool

• Common Areas

• Trails

• Florida’s Nature Coast

• 4 Miles to Crystal River

• 10 Miles to Gulf of Mexicao

• 50 Miles to Tampa

• 80 Miles to Orlando

• Comprehensive Development and Re-Sale Strategy

• Development or Sale of Commercial Frontage

• Re-sale of Existing Homes Sites

• Development of 2 Phases – 190 Home Sites

• Re-sale of Developed Sites Individually or In Bulk

• Purchased and Developed Sites Can Be Rented



Crystal Point RV Park & Development Acreage 7745 W. Dunklin St, Dunnellon, Florida

Lot Inventory Parcel ID Acres

2 Commercial Lots:

North Parcel 2424621 3.85 South Parcel 2424737 3.83

Total Commercial Acreage 7.68

16 Improved Lots: *(1)

Vacant #1: * 2968397 1.16 Vacant #2: 2968389 0.31 Vacant #3: 2854715 0.25 Vacant #4: * 2425059 0.95 Vacant #5: 2424877 0.26 Vacant #6: 2424851 0.33 Vacant #7: * 3104609 0.55 Vacant #8: 2957018 0.36

Total Improved Lots: 4.16

*(1) –Larger parcels denote undivided plats.

Phase I & II Undeveloped Tracts: *(3)

Residential Acreage #2 2852682 3.90

Residential Acreage #3 2852666 75.74

Total Undeveloped Acreage 79.64

*(3) Current Development Order allows 190 residential units.


Property Inventory




Additional Photos




Nearby Attractions




Location


The Crystal Point Mobile Home Development is located in east-central Citrus County, approximately 5 miles north of the City of Crystal River and approximately 9 miles south of Dunnellon. The property entrance is off of Citrus Blvd (County Road 495) approximately one quarter mile north of W. Dunklin Road. The immediate area is rural, undeveloped Central Florida. The community is located less than 4 miles from shopping in nearby Crystal River. In the heart of Florida’s Nature Coast, the property is less than 10 miles from the Gulf of Mexico.



* Demographic data derived from 2010 US Census

Demographics Map


ETHNICITY 1 MILE 5 MILES 10 MILES

% HISPANIC 5.1% 5.5% 5.4%

RACE 1 MILE 5 MILES 10 MILES

% WHITE 94.7% 93.3% 91.8%

% BLACK 1.8% 2.3% 3.6%

% ASIAN 0.7% 1.1% 1.5%

% HAWAIIAN 0.0% 0.0% 0.0%

% INDIAN 0.7% 0.3% 0.5%

% OTHER 0.7% 1.2% 1.0%

POPULATION 1 MILE 5 MILES 10 MILES

TOTAL POPULATION 449 14,027 62,355

MEDIAN AGE 52.4 53.0 53.0

MEDIAN AGE (MALE) 51.4 51.9 51.5

MEDIAN AGE (FEMALE) 53.3 54.1 54.3

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

TOTAL HOUSEHOLDS 177 5,632 26,210

# OF PERSONS PER HH 2.5 2.5 2.4

AVERAGE HH INCOME $60,240 $58,396 $51,649

AVERAGE HOUSE VALUE $256,803 $252,544 $218,715


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OFFERING MEMORANDUM Crystal Pointe Mobile Home … Pointe.pdfrepresentation about it. It is...

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