Beacon 21 Phase 3 Proposed 16 Unit MultiFamily Development …€¦ · The cities that make up...

Beacon 21 Phase 3 Proposed 16 Unit MultiFamily Development1577 NE Beacon Drive, Jensen Beach, FL 34957

SITESITE

Offered At:

$285,000

Presented By

Douglas LeglerPrincipal | Broker Associate+1 772 405 [email protected]

Reid ArmorSales Associate+1 772 631 [email protected]

Jensen Beach to Jupiter Inlet Aquatic Preserve

2055 S Kanner Hwy. Stuart, Florida 34994 +1 772 286 6292 naisouthcoast.com

Property Details• Location: 1577 NE Beacon Drive, Jensen Beach, FL 34957

• Land Size: 1.93 Acres

• Parcel Number: 27-37-41-033-000-00030-4

• Property Use: Development

• Zoning: PUD-R (up to at least 16 units)

• Price $285,000

Property OverviewExcellent play for a developer who wants to take advantage of Opportunity Zone tax advantages and build up to at least 16 residential units in an up and coming community where there is strong demand for both owner occupied and rental housing.

Located in affluent Martin County with easy access to beaches and along the Indian River lagoon as well as nearby new developments including the luxury Langford Landing community with homes from the $700’s, newly completed TideHouse waterfront restaurant and bar, and the Rio Town Center riverfront mixed use development project which includes plans for over 200,000 sf of residential, commercial, mixed use, and restaurant space.

Rio is experiencing a modern renaissance and is slated to become one of the most desirable places to live along the Treasure Coast of Florida. Its diverse population, skilled work force, coastal and riverfront location, energetic and civic minded volunteers, indigenous architecture, and colorful history all blend to create an intimate, funky, and small town village with a laidback and desirable quality of life.




Property Features• Located in Opportunity Zone and Rio CRA

• Utilities and roads in place

• Flat, high, and dry

SITESITE



SITESITE

Indian River Lagoon



Opportunity Zone Info

Martin County, Florida

• Southeast Florida• East of Lake Okeechobee• Nestled along the Treasure Coast

page 10

➢ Southeast Florida

➢ North of West Palm Beach

➢ Census Tract: 5.01➢ City of Stuart➢ Rio (Martin County)➢ Jensen Beach (Martin County)➢ Town of Ocean Breeze

Rio, FloridaLocation

page 3

Where is Martin County?Southeast Florida

East of Lake Okeechobee

Nestled along the Treasure Coast

Rio, Florida

• Southeast Florida• 40 minutes North of West Palm Beach• Census Tract: 5.01 City of Stuart Rio Jensen Beach Town of Ocean Breeze

Rio, Florida Opportunity Zone Prospectushttps://www.martin.fl.us/resources/rio-opportunity-zone-prospectus



Opportunity Zone General InformationQ: What are Opportunity OpportunityZone Funds?

A: The Act defines a Fund as any investment vehicle that is organized for the purposes of investing in “qualified opportunity zone property” and that holds at least 90% of its assets in “qualified opportunity zone property.” A Fund that fails to meet the 90%-threshold must pay a monthly penalty for each month in which it fails to meet the threshold. Guidance issued by the IRS in March 2019 has clarified that that a Fund has at least six months from the time the Fund raises a round of capital to when they need to place that capital for the purposes of the 90 % test.

Q: How does a corporation or partnership become certified as a Qualified Opportunity Fund?

A. To become a Qualified Opportunity Fund, an eligible corporation or partnership can self-certify by filing Form 8996, Qualified Opportunity Fund, with its federal income tax return. Early Early-release drafts of the form and instructionsinstructionsare on the IRS website. The return with Form 8996 must be filed timely, taking extensions into account. There are also businesses such as JP Morgan and Goldman Sachs that have equity fund managers that can assist investors in opening and managing an Opportunity Fund.

Q: When do investors have to pay their capital gains tax?

A: Everyone must pay their capital gains taxes by December 31, 2026 whether they take advantage of the 5 or 7

year incentive.

Q: How long can an investor hold on to their investment to take advantage of the 10 year incentive?

A: Investors can hold onto their investment until

2041 to take advantage of the incentive where any gains resulting from a QOZ investment held at least 10 years are excluded from capital gains taxation. On the IRS website’s Opportunity Zones Frequently Asked Questions page it states to be able to elect to defer gain a taxpayer must invest in a Qualified Oppor-tunity Fund during the 180 day period beginning on the date of the sale.



Location Map

Rio Town Center

Sewall’s PointDowntown Stuart

Witham FieldAirport

Langford Landing

St. Lucie River



Rio Zoning District Map

WATERESTATE DENSITY 2UPA LOW DENSITY MEDIUM DENSITY

COMMERCIAL LTD COMMERCIAL GEN COMMERCIAL OR

RECREATION

COMMERCIAL WFTINDUSTRIALMOBILE HOME

Exhibit 3Rio NeighborhoodRedevelopment Plan

Rio Zoning Districts Map


The cities that make up Martin County are Jensen Beach/Rio, Stuart/Sewall’s Point, Hutchinson Island, Hobe Sound, Jupiter/ Tequesta, Palm City, Port Salerno and Indiantown. Martin County is a wonderful place to visit and live, with beaches, golf, fishing and boating. The County boasts arts amenities, quaint downtowns with shops, gourmet dining and galleries, museums, historic places, festivals and more.

Martin County is for...

The golf enthusiast... Martin County is home to over 35 world-class golf courses all within a 15-mile radius. The sun worshiper... The County offers its visitors and residents alike some of the finest beaches on the east coast. The discriminating arts shopper...More than 20 galleries participate in a monthly First Thursday gallery night. Many of these galleries are in the historic downtowns of Stuart, Jensen Beach, Port Salerno and Hobe Sound. The music lover...The historic Lyric Theatre offers a wide-array of first class talent nearly 300 days a year...This acoustically amazing theatre features concerts for all music lovers, from classical to rock and roll, and theatrical performances by local and national talent.

For the die-hard festivals-goer...There are plenty to choose from and during the best Florida weather you can find The Port Salerno Seafood Festival, Bookmania, ArtsFest, Pineapple Festival or one of the many festivals throughout the year. The Treasure Coast Children’s Museum is a great place for the kids located at Indian Riverside Park which has a fabulous water play area, fishing, and a riverfront view. Often, there are also events in the park including concerts, orchid shows, and more. Indian Riverside Park also features the Maritime and Yachting Museum. Hutchinson Island houses the Elliott Museum which focuses on art, history and technology. Named after prolific inventor Sterling Elliott, the museum houses permanent including Model AA Trucks, early transportation, history of Stuart and surrounding regions and baseball memorabilia. For the more scientifically minded and curious kids, the Florida Oceanographic Coastal Center which offers a fun opportunity to learn more about our local ecosystem and even feed a stingray!

County Overview Martin County, FLorida


Custom Map

Source: ©2019 Esri.

February 10, 2020

©2020 Esri Page 1 of 1

Population

• 1 Mile 6,801

• 3 Mile: 29,843

• 5 Mile: 75,612

Average Household Income

• 1 Mile $74,802

• 3 Mile: $84,694

• 5 Mile: $86,240

Median Age

• 1 Mile 54.0

• 3 Mile: 56.4

• 5 Mile: 56.3

Demographic and Income Comparison Profile1577 NE Beacon Dr, Jensen Beach, Florida, 34957 NAI SouthcoastRings: 1, 3, 5 mile radii Latitude: 27.22417

Longitude: -80.23105

5 miles

AreaStateUSA

Trends 2019-2024Trends 2019-2024

Ann

ual R

ate

(in

perc

ent) 2.5

2

1.5

1

0.5

0Population Households Families Owner HHs Median HH Income

20192024

Population by AgePopulation by Age

Perc

ent

18

16

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2019 Household Income 2019 Household Income

< $15K10.4%

$15K - $24K10.2%

$25K - $34K11.2%

$35K - $49K14.5%

$50K - $74K16.2%

$75K - $99K11.3%

$100K - $149K12.9%

$150K - $199K5.4%

$200K+7.9%

2019 Population by Race2019 Population by Race

Perc

ent

80

70

60

50

40

30

20

10

0White Black Am.Ind. Asian Pacific Other Two+ Hisp

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2019 and 2024.

February 10, 2020

©2020 Esri Page 7 of 7

2019 Demographics

NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.


Offered At:

$285,000

Offering Summary

LISTING AGENTS

Douglas LeglerPrincipal | Broker Associate+1 772 405 [email protected]

Reid ArmorSales Associate+1 772 631 [email protected]

Beacon 21 Phase 3 Proposed 16 Unit MultiFamily Development …€¦ · The cities that make up...

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