RealNex Investment Analysis Software · The forecast is calling for prices to continue climbing...

Price: $2,400,000

8.54% ProForma Cap Rate17,052 Sq Ft

32' Ceiling Height

RIVIERA BEACH DISTRIBUTION CENTER838 WEST 13TH COURT • RIVIERA BEACH, FL 33404

4151 Hollywood Blvd | Hollywood, FL 33020 | Phone: (954) 361-0000 | Fax: (954) 361-0070 | www.DeMarcoGroup.com

John DeMarco, ACP, CCIM

9544531000

[email protected]

The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections and analysis. The informationprovided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or other professional advice, consultation or service. The user of thissoftware should consult with a professional in the respective legal, accounting, tax or other professional area before making any decisions.

TABLE OF CONTENTSProperty Summary

Property Description

Property Photos

Comparable Sales

Lease Comparables

Regional Map

Location Map

Maps and Aerials

Demographics

Pro Forma Summary

Zoning

Motto Mortgage

PROPERTY SUMMARY838 West 13th Court | Riviera Beach, FL 33404

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemedreliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriateprofessionals.

Property SummaryPurchase Price $2,400,000

Price per SF $140.75 p/sf

Building Size 17,052 SF

Lot Size 1.0203 Acres

Property Type Distribution

Zoning IG Industrial General

Dockhigh doors 7

Ceiling height 32 Feet

Year Built 1987

Power 200 Amps

Fire Sprinkels Yes

Market Lease Rate $12 p/sf NNN

ProForma NOI $205,000

ProForma Cap Rate 8.54%

Property OverviewThe subject offering has 17,052 usable sq ft on 1.0203 acres. Thereare 7 dock high doors, the ceiling height is 32 feet, and 200 amps forpower. The entire property is vacant and presents an excellentopportunity for an owner user, or investor.

Location OverviewInvestors have taken an active interest in industrial space in PalmBeach County, and sales volume has increased significantly over thepast year. The forecast is calling for prices to continue climbing over thenext year in the region of 35%. Industrial tenants benefit from the Portof Palm Beach, which generates jobs and cargo business for thecounty. Palm Beach County is also further north than its neighboringSouth Florida port metros Fort Lauderdale and Miami, cutting traveltime up I95.

PROPERTY DESCRIPTION838 West 13th Court | Riviera Beach, FL 33404


John DeMarco with Re/Max 5 Star Realty is pleased to present the sale of The Riviera Beach Distribution Centerlocated in Riviera Beach, Florida. The subject property contains17,052 square feet of usable space well situated on alarge 1.0203 acre private lot. There are 7 dock high doors, a 32 foot ceiling height, custom metal rack system, buildingand racks are fully sprinklered, 200 amp power, fully fenced, full security system and much more. Property hasapproximately 800 sf buildout office. This fee simple property has no industrial association. The entire property is vacantand presents an excellent opportunity for an owner user or investor.

Included in this offering are recent lease comparables confirming the average leasing rates average $12 a square footnet. When leased and stabilized this property will net $205,000 per year yielding a strong 8.54% capitalization rate.Property is zoned IG General Industrial. See enclosed all allowable zoning uses. Included in this offering package arerecent closed industrial sales confirming they have sold on an average of $201 a square foot. This property is beingoffered at only $140.75 price/sqft which is well below recent sales.

Please call John DeMarco for additional information and for a complete tour. Please remember to not disturb existingbusiness, all showings are by appointment only.

PROPERTY PHOTOS838 West 13th Court | Riviera Beach, FL 33404

COMPARABLE SALES838 West 13th Court | Riviera Beach, FL 33404


1 255 E 22nd Ct - New Port Cove Marine Center (Part of Portfolio) SOLDRiviera Beach, FL 33404 Palm Beach County

SHM, LLCRecorded Buyer: Recorded Seller: Old Port Cove, Inc.14785 Preston RdDallas, TX 75254

True Buyer: Safe Harbor Marinas

1216 US Highway No. 1North Palm Beach, FL 33408Old Port Cove Holdings, Inc.True Seller:

Sale Date:

– Research Status:

PrFrma Cap Rate:

Sale Price:

Actual Cap Rate:

$307.69$8,000,000 - Full Value02/28/2018 Bldg Type:

Zoning:Sale Conditions:

Year Built/Age:RBA:

--

Parcel No:Financing: -

Full Value

Class C IndustrialWarehouseBuilt 1968 Age: 5026,000 SF

CMBulk/Portfolio Sale

Land Area: 2.84 AC (123,710 SF)Price/SF:

4154987Comp ID:

2 1401 Clare Ave - Sadler Addition (Part of Multi-Property) SOLDWest Palm Beach, FL 33401 Palm Beach County

AP Warehouse District, LLCRecorded Buyer: True Seller: Johnstone Capital Partners I, LLC1616 Camden RdCharlotte, NC 28203

True Buyer: Asana Partners

400 Royal Palm WayPalm Beach, FL 33480(212) 924-0628Edmund H BeebeSeller Contact:

Sale Date:


PrFrma Cap Rate:

Sale Price:$236.15$3,108,674 - Allocated12/18/2018 Bldg Type:

Zoning:

Year Built/Age:RBA:

-


Allocated


I, West Palm BeachLand Area: 0.62 AC (27,007 SF)

Price/SF:

4612823Comp ID:

3 1220 Elizabeth Ave (Part of Multi-Property) SOLDWest Palm Beach, FL 33401 Palm Beach County




Sale Date:


PrFrma Cap Rate:


Zoning:

Year Built/Age:RBA:

-


Allocated


ILand Area: 0.44 AC (19,166 SF)

Price/SF:

4612823Comp ID:

Copyrighted report licensed to RE/MAX 5 Star Realty - 746067. 7/25/2019

Page 1



4 1500 Elizabeth Ave - Sadler Addition (Part of Multi-Property) SOLDWest Palm Beach, FL 33401 Palm Beach County




Sale Date:


PrFrma Cap Rate:


Zoning:

Year Built/Age:RBA:

-


Allocated


ILand Area: 0.74 AC (32,234 SF)

Price/SF:

4612823Comp ID:

5 2611 Mercer Ave UNDER CONTRACTWest Palm Beach, FL 33401 Palm Beach County

Listing Broker: Tower Commercial Real Estate Constance Thomas515 N Flagler DrWest Palm Beach, FL 33401(561) 572-9887

Asking Price:

Actual Cap Rate:

Price/SF: $195.54$2,675,000 Sale Type:

Zoning:

Bldg Status:

-

Parcel No: 74-43-43-28-00-000-7014

InvestmentClass B FlexShowroomBuilt 1977 Renov 2014

GC 74 - West Palm Beach

RBA: 13,680 SF

Bldg Type:Days on Market: 113

Sale Status: Under Contract

(561) 572-9887

6 418 Palm St SOLDWest Palm Beach, FL 33401 Palm Beach County

418 Palm LlcRecorded Buyer: Recorded Seller: Nexair Southeast Llc424 Palm StWest Palm Beach, FL 33401

True Buyer: 424 Palm, LLC Nexair LLCTrue Seller:

Sale Date:


PrFrma Cap Rate:

Sale Price:$155.12$1,825,000 - Confirmed10/30/2018 Bldg Type:

Zoning:

Year Built/Age:RBA:

-

Parcel No:Financing:

74-43-43-28-02-000-0150$1,000,000 from Finemark National Bank & Trust

Confirmed


GCLand Area: 0.43 AC (18,731 SF)

Price/SF:

4589200Comp ID:


Page 2



7 3933 Port Rd - John Deer (Part of Portfolio) SOLDWest Palm Beach, FL 33404 Palm Beach County

DJD Real Estate Holdings, LLCRecorded Buyer: Recorded Seller: Nortrax Inc.4343 NW 77th AveMiami, FL 33166

True Buyer: Dobbs Management Service,LLC

396 County RdWestbrook, ME 04092(813) 635-2300Nortrax Inc.True Seller:

Sale Date:


PrFrma Cap Rate:

Sale Price:

Actual Cap Rate:

$201.01$4,856,843 - Full Value11/15/2017 Bldg Type:


Year Built/Age:RBA:

--


Full Value

Class B IndustrialWarehouseBuilt 1970 Age: 4724,162 SF

IGBulk/Portfolio Sale


4064378Comp ID:

8 2213 Vista Pky N - Building 2 (Part of Multi-Property) SOLDWest Palm Beach, FL 33411 Palm Beach County

CIVF V - FL, LLCRecorded Buyer: True Seller: McCraney Property CompanyOne Beacon StBoston, MA 02108

True Buyer: Cabot Properties, Inc.

2257 Vista PkyWest Palm Beach, FL 33411(561) 478-4300McCraney Property CompanySeller Contact:

Sale Date:


PrFrma Cap Rate:

Sale Price:

Actual Cap Rate:

$166.67$7,372,467 - Allocated11/02/2018 Bldg Type:


Year Built/Age:RBA:

-5.25%


Allocated

Class B IndustrialWarehouseBuilt 2015 Age: 344,234 SF

LI, PIPD-


4567796Comp ID:


Page 3



255 E 22nd Ct (Part of Portfolio)1 Sold: $8,000,000 ($307.69/SF)Riviera Beach 26,000 SF Industrial/Warehouse

1401 Clare Ave (Part of Multi-Property Sale)2 Sold: $3,108,674 ($236.15/SF)West Palm

Beach13,164 SF Industrial/Warehouse

1220 Elizabeth Ave (Part of Multi-Property Sale)3 Sold: $3,389,337 ($264.32/SF)West Palm


1500 Elizabeth Ave (Part of Multi-Property Sale)4 Sold: $3,514,444 ($168.14/SF)West Palm


2611 Mercer Ave5 Under Contract: w/Asking Price of $2,675,000($195.54/SF)

West PalmBeach

13,680 SF Flex/Showroom

418 Palm St6 Sold: $1,825,000 ($155.12/SF)West PalmBeach

11,765 SF Industrial/Warehouse

3933 Port Rd (Part of Portfolio)7 Sold: $4,856,843 ($201.01/SF)West PalmBeach

24,162 SF Industrial/Warehouse

2213 Vista Pky N (Part of Multi-Property Sale)8 Sold: $7,372,467 ($166.67/SF)West Palm


Address City Property Info Sale Info


Page 4



Dollar Volume

Legend:

Current SurveySold Transactions 7

$32,066,7651

$2,675,000Number of TransactionsTotal Dollar Volume

153,05014.17

13,6800.86

Total Bldg Square FeetTotal Land in Acres

617,245$4,580,966

37,496$2,675,000

Total Land in SFAverage Price

21,864$209.52

13,680$195.54

Average Number of SFAverage Price Per Bldg SF

$201.012.02

$195.540.86

Median Price Per SFAverage Number of Acres

88,178-

37,496-

Average Number of SF(Land)Average Price Per Unit

--

--

Median Price Per UnitAverage Number of Units

-Actual Cap Rate

SoldTransactions

For Sale &UC/Pending

-

Time Interval - Quarterly

Report Time Frame: 10/1/2017 - 7/25/2019

Trend Report


Page 5



Trend Report1Q18 01/1-3/31/184Q17 10/1-12/31/17

For Sale & UC/Pending For Sale & UC/Pending

4Q17 10/1-12/31/17 1Q18 01/1-3/31/18

Number of TransactionsTotal Dollar VolumeTotal Bldg Square FeetTotal Land in AcresTotal Land in SFAverage PriceAverage Number of SFAverage Price Per Bldg SFMedian Price Per SFAverage Number of AcresAverage Number of SF(Land)Average Price Per UnitMedian Price Per UnitAverage Number of UnitsActual Cap Rate

Sold TransactionSold Transaction

1$4,856,843

24,1625.50

239,580$4,856,843

24,162$201.01$201.01

5.50239,580

----

0$0

0---0--------

1$8,000,000

26,0002.84

123,710$8,000,000

26,000$307.69$307.69

2.84123,710

----

0$0

0---0--------

3Q19 07/1-7/25/194Q18 10/1-12/31/18

For Sale & UC/Pending For Sale & UC/Pending

4Q18 10/1-12/31/18 3Q19 07/1-9/30/19

Number of TransactionsTotal Dollar VolumeTotal Bldg Square FeetTotal Land in AcresTotal Land in SFAverage PriceAverage Number of SFAverage Price Per Bldg SFMedian Price Per SFAverage Number of AcresAverage Number of SF(Land)Average Price Per UnitMedian Price Per UnitAverage Number of UnitsActual Cap Rate

Sold TransactionSold Transaction

5$19,209,922

102,8885.83

253,955$3,841,984

20,578$186.71$168.14

1.1750,791

----

0$0

0---0--------

0$0

0---0--------

1$2,675,000

13,6800.86

37,496$2,675,000

13,680$195.54$195.54

0.8637,496

----


Page 6

LEASE COMPARABLES838 West 13th Court | Riviera Beach, FL 33404


Lease Comps SummaryLease Comps Report

Deals

5Asking Rent Per SF

$13.35Starting Rent Per SF

$12.87Avg. Months On Market

4LEASE COMPARABLES

SUMMARY STATISTICS

Rent Deals Low Average Median High

Asking Rent Per SF

Starting Rent Per SF

Effective Rent Per SF

Asking Rent Discount

TI Allowance

Months Free Rent

5

-

-

-

-

-

$10.50

-

-

-

-

-

$13.35

-

-

-

-

-

$11.00

-

-

-

-

-

-

-

-

$20.71

-

-

Lease Attributes Deals Low Average Median High

Months on Market

Deal Size

Lease Deal in Months

Floor Number

5

5

-

5

6

12,000

-

1

14

20,253

-

1

18

16,227

-

1 1

20

38,230

-

7/26/2019Copyrighted report licensed to RE/MAX 5 Star Realty - 995182.

Page 1



Lease Comps SummaryLease Comps Report

Property Name - Address Rating SF Leased Floor Sign Date Rent Rent Type

Lease

Type

Rents

-1 3330 45th St12,000 1st 4/30/2019 $10.50/nnn AskingNew

-2 Brown Moving Bldg38,230 1st 3/3/2018 $13.50/mg Asking

1900 Old Okeechobee RdNew

-3 1501 N Florida Mango Rd16,000 1st 2/27/2018 $12.00/nnn AskingNew

-4 Bldg A18,808 1st 12/1/2017 $10.50/nnn Asking

350 Hiatt DrNew

-5 403 Hillbrath Dr16,227 1st 10/19/2017 $20.71/nnn AskingNew


Page 2



Lease Comps DetailsLease Comps Report

1 3330 45th StWest Palm Beach, FL 33407 - 45th Street Ind Submarket

RENTSAsking Rent: $10.50/NNN

PROPERTY EXPENSESTaxes: $2.24/SF (2018)

LEASESF Leased: 12,000 SFSign Date: Apr 2019Space Use: IndustrialLease Type: DirectFloor: 1st Floor

LEASE TERMStart Date: Jul 2019

TIME VACANTDate Vacated: Nov 2017Date Occupied: Jul 2019Months Vacant: 20 Months

TIME ON MARKETDate On Market: Oct 2017Date Off Market: Apr 2019Months on Market: 19 Months

LEASING REPCBRE5100 Town Center Cir, Suite 600Boca Raton, FL 33486-1049Robert C. Smith (561) 478-0330CBRE1700 Palm Beach Lakes Blvd, Suite 100West Palm Beach, FL 33401-2012Kirk Nelson (561) 227-1803

PROPERTYRentable Area: 12,000 SFStories: 1Floor Size: 12,000 SFCeiling Height: 14'Vacancy at Lease: 100%Land Acres: 0.88

Property Type: IndustrialStatus: Built 1977Tenancy: MultiClass: BConstruction: Reinforced ConcreteParking: 27 free Surface Spa…

MARKET AT LEASE

Vacancy Rates 2019 Q2 YOY

0.5%

0.9%

0.0%Current Building 100%

Submarket 1-3 Star

Market Overall 3.5%

1.9%

Same Store Asking Rent/SF 2019 Q2 YOY

4.6%

4.9%

0.0%Current Building $10.50

Submarket 1-3 Star

Market Overall $11.68

$11.60

Submarket Leasing Activity 2019 Q2 YOY

4.7

51.8%12 Mo. Leased SF 31,434

Months On Market 14.4


Page 3




2 1900 Old Okeechobee Rd - Brown Moving BldgWest Palm Beach, FL 33409 - Palm Beach Airport Ind Submarket

TENANTTenant Name: Brown Moving & StorageIndustry: TransportationNAICS: General Freight Trucking, Local - 484110

RENTSAsking Rent: $13.50/MG


LEASESF Leased: 38,230 SFSign Date: Mar 2018Space Use: IndustrialLease Type: DirectFloor: 1st Floor

LEASE TERMStart Date: May 2018

TIME VACANTDate Occupied: May 2018

TIME ON MARKETDate On Market: Aug 2017Date Off Market: May 2018Months on Market: 7 Months

PROPERTYRentable Area: 38,230 SFStories: 1Floor Size: 38,230 SFCeiling Height: 22'Vacancy at Lease: 0.0%Land Acres: 3.80

Property Type: IndustrialStatus: Built 1969Tenancy: SingleClass: BConstruction: MasonryParking: 44 free Surface Spa…

MARKET AT LEASE


2.5%

0.9%

0.0%Current Building 0.0%

Submarket 2-4 Star

Market Overall 2.6%

4.4%


5.0%

5.6%

Current Building $13.50

Submarket 2-4 Star


$10.66

-


7.4

2.1%12 Mo. Leased SF 381,734



Page 4




3 1501 N Florida Mango RdWest Palm Beach, FL 33409 - Palm Beach Airport Ind Submarket

RENTSAsking Rent: $10.00-$12.00/NNN

LEASESF Leased: 16,000 SFSign Date: Feb 2018Space Use: IndustrialLease Type: DirectFloor: 1st FloorSuite: Space 1

LEASE TERMStart Date: Feb 2018

TIME VACANTDate Occupied: Feb 2018

TIME ON MARKETDate On Market: Jun 2016Date Off Market: Feb 2018Months on Market: 21 Months

LEASING REPTouchstone Webb Realty Company610 Clematis St, Suite CU5West Palm Beach, FL 33401Susan Thomas (561) 659-5554

PROPERTYRentable Area: 16,000 SFStories: 1Floor Size: 16,000 SFLand Acres: 1.00

Property Type: IndustrialStatus: -Tenancy: -Class: B

MARKET AT LEASE


2.5%

0.9%

Current Building -

Submarket 2-4 Star

Market Overall 2.6%

4.4%

-


5.0%

5.6%

Current Building -

Submarket 2-4 Star


$10.66

-


7.4

2.1%12 Mo. Leased SF 381,734



Page 5




4 350 Hiatt Dr - Bldg APalm Beach Gardens, FL 33418 - Palm Beach Gardens Ind Submarket


PROPERTY EXPENSESOperating Exp.: $3.50/SF (2008-Est)

LEASESF Leased: 18,808 SFSign Date: Dec 2017Space Use: IndustrialLease Type: DirectFloor: 1st FloorSuite: B

LEASE TERMStart Date: Mar 2018

TIME VACANTDate Vacated: Jul 2017Date Occupied: Mar 2018Months Vacant: 8 Months

TIME ON MARKETDate On Market: May 2017Date Off Market: Feb 2018Months on Market: 7 Months

LEASING REPColliers International901 Northpoint Pky, Suite 109West Palm Beach, FL 33407-1951Michael A. Falk, CCIM, SIOR (561) 478-64…Scott Weprin (561) 478-6400 X2

PROPERTYRentable Area: 61,808 SFStories: 1Floor Size: 61,808 SFCeiling Height: 24'-26'Vacancy at Lease: 99.2%Land Acres: 10.30

Property Type: IndustrialStatus: Built 2000Tenancy: MultiClass: BConstruction: Reinforced ConcreteParking: 80 free Surface Spa…

MARKET AT LEASE


7.8%

1.0%


Submarket 2-4 Star

Market Overall 2.6%

9.8%


5.1%

5.3%


Submarket 2-4 Star


$13.25


1.9

4.8%12 Mo. Leased SF 23,597



Page 6




5 403 Hillbrath DrLantana, FL 33462 - Lake Worth East Ind Submarket



LEASESF Leased: 16,227 SFSign Date: Oct 2017Space Use: IndustrialLease Type: DirectFloor: 1st Floor

LEASE TERMStart Date: Nov 2017

TIME VACANTDate Occupied: Nov 2017

TIME ON MARKETDate On Market: Apr 2016Date Off Market: Oct 2017Months on Market: 18 Months

LEASING REPCBRE5100 Town Center Cir, Suite 600Boca Raton, FL 33486-1049Tony Hoover (561) 393-1619

PROPERTYRentable Area: 16,227 SFStories: 1Floor Size: 16,227 SFVacancy at Lease: 0.0%Land Acres: 5.13

Property Type: IndustrialStatus: Built 2012Tenancy: -Class: C

MARKET AT LEASE


0.5%

1.0%


Submarket 1-3 Star

Market Overall 2.6%

1.1%


5.5%

5.3%


Submarket 1-3 Star


$11.12


6.6

45.8%12 Mo. Leased SF 29,381



Page 7

REGIONAL MAP838 West 13th Court | Riviera Beach, FL 33404

LOCATION MAP838 West 13th Court | Riviera Beach, FL 33404

MAPS AND AERIALS838 West 13th Court | Riviera Beach, FL 33404

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verifiedthrough personal inspection by and/or with the appropriate professionals.

Subject Property

MAPS AND AERIALS838 West 13th Court | Riviera Beach, FL 33404

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verifiedthrough personal inspection by and/or with the appropriate professionals.

Aerial Overview Map

DEMOGRAPHICS838 West 13th Court | Riviera Beach, FL 33404

Population 1 Mile 3 Mile 5 Mile

Male 3,984 (47.79 %) 35,246 (47.97 %) 78,909 (48.23 %)

Female 4,353 (52.21 %) 38,236 (52.03 %) 84,717 (51.77 %)

Total Population 8,337 73,482 163,626

Race Demographics 1 Mile 3 Mile 5 Mile

Population Non Hispanic White 306 27,421 84,354

Population Black 7,913 41,129 66,855

Population Am In/Ak Nat 11 138 174

Housing 1 Mile 3 Mile 5 Mile

Housing Units 3,403 39,120 90,185

Occupied Units 2,789 29,472 69,806

Owner Occupied Units 1,561 17,395 38,802

Renter Occupied Units 1,228 12,077 31,004

Vacant Units 614 9,648 20,379

DEMOGRAPHICS838 West 13th Court | Riviera Beach, FL 33404

Household Income 1 Mile 3 Mile 5 Mile

Median Income $27,776 $40,976 $48,105

Less than $10,000 423 2,803 6,012

$10,000 $14,999 289 2,265 4,095

$15,000 $19,999 217 2,416 4,112

$20,000 $24,999 371 2,030 4,058

$25,000 $29,999 280 1,702 3,862

$30,000 $34,999 202 1,552 4,466

$35,000 $39,999 133 1,716 3,924

$40,000 $44,999 163 1,745 4,760

$45,000 $49,999 153 1,342 3,340

$50,000 $59,999 232 2,512 6,064

$60,000 $74,999 211 2,760 6,407

$75,000 $99,999 134 2,805 8,005

$100,000 $124,999 43 1,397 3,635

$125,000 $149,999 17 673 2,144

$150,000 $199,999 13 660 2,218

Greater than $200,000 N/A 1,190 3,411

Age Breakdown 1 Mile 3 Mile 5 Mile

Ages 04 617 (7.40 %) 4,417 (6.01 %) 8,848 (5.41 %)

Ages 59 701 (8.41 %) 5,267 (7.17 %) 10,640 (6.50 %)

Ages 1014 625 (7.50 %) 4,761 (6.48 %) 9,617 (6.50 %)

Ages 1519 595 (7.14 %) 4,519 (6.15 %) 9,107 (5.57 %)

Ages 2024 645 (7.74 %) 4,534 (6.17 %) 9,090 (5.56 %)

Ages 2529 623 (7.47 %) 4,363 (5.94 %) 8,934 (5.46 %)

Ages 3034 551 (6.61 %) 4,126 (5.61 %) 8,790 (5.37 %)

Ages 3539 493 (5.91 %) 4,097 (5.58 %) 9,073 (5.54 %)

Ages 4044 469 (5.63 %) 4,278 (5.82 %) 9,806 (5.99 %)

Ages 4549 480 (5.76 %) 4,661 (6.34 %) 10,819 (6.61 %)

Ages 5054 490 (5.88 %) 4,687 (6.38 %) 11,036 (6.74 %)

Ages 5559 459 (5.51 %) 4,467 (6.08 %) 10,598 (6.48 %)

Ages 6064 407 (4.88 %) 4,097 (5.58 %) 9,631 (5.89 %)

Ages 6569 344 (4.13 %) 3,579 (4.87 %) 8,524 (5.21 %)

Ages 7074 265 (3.18 %) 3,043 (4.14 %) 7,342 (4.49 %)

Ages 7579 203 (2.43 %) 2,595 (3.53 %) 6,287 (3.84 %)

Ages 8084 144 (1.73 %) 2,057 (2.80 %) 5,140 (3.14 %)

Ages 85+ 226 (2.71 %) 3,934 (5.35 %) 10,344 (6.32 %)

PRO FORMA SUMMARY838 West 13th Court | Riviera Beach, FL 33404

TENANT ANNUAL SCHEDULED INCOME

Tenant Actual Market

Vacant $0 $204,624

TOTALS $0 $204,624

ANNUALIZED INCOME

Description Actual Market

Gross Potential Rent $0 $204,624

Less: Vacancy $0 $0

Effective Gross Income $0 $204,624

Less: Expenses $0 $0

Net Operating Income $0 $204,624

ANNUALIZED EXPENSES

Description Actual Market

TOTAL EXPENSES $0 $0

EXPENSES PER RSF $0.00 $0.00

INVESTMENT SUMMARY

PRICE $2,400,000

Year Built 1987

Tenants 1

RSF 17,052

Price/RSF $140.75

Lot Size 1.02 acres

Floors 1

APN56434232

240000200

Market Cap Rate 8.53%

Unified Land Development Code Supplement No. 25 (Printed 02/19) Article 3 – Overlays and Zoning Districts

ZONING Industrial Districts 1. IL, Light Industrial District: The IL district is to provide sufficient land in appropriate locations for certain types of businesses, light manufacturing, or processing uses likely to cause undesirable effects upon residential or commercial uses. 2. IG, General Industrial District: The IG district is to provide land in appropriate locations for those uses with one or more of the following characteristics: industrial processes that involve significant amounts of noise, heat, mechanical and chemical processing; large amounts of material transfer; outdoor activities and large structures. The IG district provides for industrial uses located with convenient access to transportation facilities.

MOTTO MORTGAGE838 West 13th Court | Riviera Beach, FL 33404


Commercial

Loan Financing

Loan Programs:1. 5/7/10 Year Fixed ARM'S2. 25 Year or less amortizations3. Fixed Loans4. Low Interest RatesProperty Types but not limited to:Industrial, Mixed use properties, Assisted Living Facilities, Warehouses, Health Care Facilities, Bars and Restaurants, Day care operations, Agricultural, Gas stations, Unanchored retail, Auto dealers.

Call today and see what program you qualify for!

David IannucciLoan Originator

NMLS# 1013040Office: 954.790.116

[email protected]/offices/5-star-professionals-hollywood

1901 Harrison St Suite 101

Hollywood FL 33020

Date post:	26-Jul-2020
Category:	Documents
Upload:	others
View:	0 times
Download:	0 times

RealNex Investment Analysis Software · The forecast is calling for prices to continue climbing...

Documents