CLEARWATER BEACH DEVELOPMENT OPPORTUNITY · Clearwater Beach Tourist District and within the City...

PROPERTIES ARE BEING OFFERED COLLECTIVELY AS A PORTFOLIO

CLEARWATER BEACH DEVELOPMENT OPPORTUNITY

The information contained in the following Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party re-ceiving it from Viewpoint Realty International (“VRI”) and should not be made available to any other person or entity without the written consent of VRI. This Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a prelimi-nary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. VRI has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future pro-jected 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 informa-tion contained in this Memorandum has been obtained from sources we believe to be reliable; however, VRI has not verified, and will not verify, any of the information contained herein, nor has VRI or any of their officers, affiliates, representatives, employees or agents conducted any investigation regarding these matters and makes no warranty, express or implied or representation whatsoever regarding the accuracy or completeness of the infor-mation provided, or that any actual results will conform to the enclosed projections or proformas or any of its contents and no legal liability is as-sumed or to be implied with respect thereto. By receipt of the Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or VRI. Furthermore, you agree not to use this Memorandum or any of its contents in a manner detrimental to the interest of the Owner or VRI. This confidential Memorandum shall not be deemed a representation of the state of affairs of the subject property or constitute an indication that there has been no change in the business or affairs of the property since the date of preparation of this Memorandum. All potential purchasers should conduct a careful, independent investigation of property to verify all of the information set forth herein.

DISCLAIMER/CONFIDENTIAL OFFERING


The owner and VRI respectfully request that interested parties refrain from contacting any Tenant or onsite employees. All tours will be conducted by appointment only with a VRI representative present.

CLEARWATER BEACH DEVELOPMENT OPPORTUNITY Pinellas County

TABLE OF CONTENTS

INVESTMENT OVERVIEW 4

PROPERTY DESCRIPTION 9

699 BAY ESPLANADE 12



687-685 BAY ESPLANADE 22

DEMOGRAPHICS SUMMARY 27

SUBMERGED LAND 25

INVESTMENT OVERVIEW

Clearwater Beach Development Opportunity - Investment Overview

This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Buyer must verify the information and bears all risk for any inaccuracies.

Viewpoint Realty International, Inc has been appointed to exclusively market for sale for four contiguous waterfront parcels located in the Tampa Bay region of Florida; west cen-tral Florida on the Gulf of Mexico. This geographical area is made up of seven counties: Hernando, Hillsborough, Manatee, Pasco, Pinellas, Polk and Sarasota, which contains an estimated population of over four million residents. The subject properties presents inves-tors with the rare opportunity to acquire conveniently located waterfront assets with easy access; excellent visibility and tremendous upside potential that is being sold free and clear of existing debt; and allows purchasers to take advantage of current extremely attrac-tive financing terms. The offered properties are positioned within the City of Clearwater in Pinellas County, the second largest and the most densely populated county within the region. The county has a population well over nine hundred thousand, and is home to some of the largest recrea-tional, educational and employment centers. The properties are situated on approxi-mately .62 acres, with 244 feet of frontage on Bay Esplanade, 245 feet of frontage on the intracoastal waterway, and submerged lands of 90,604 square feet (2.08 acres), located in Clearwater Beach Tourist District and within the City of Clearwater. The properties are in walking distance to shopping, banking, restaurants and minutes from the famed Clearwater Beach, voted in 2016 the No. 1 beach in the nation by Tri-pAdvisor. Subject property is an in-fill site uniquely located at the northeast and southeast corner of the intersection of Bay Esplanade and Somerset Street, in the Tourist District on the intracoastal waterway with a waterview. The location, provides a unique opportunity for a land assembly suited for adap-tive-reuse and new development options in this exclusive area. Approval was previously obtained in November of 2006, for the upland development of a 16 unit condominium complex of two five story buildings—eight dwelling units each and fourteen wet slip multi-use docks. The market area is characterized predominantly by retail, restaurants, motels, hotels and condo residences, the majority of which are in average to su-perior condition. Additionally, this area offers a wide range of products, in terms of price point and quality. The area is experiencing significant re-development spurred by market demand and strategic public and private sector investments, transforming it to an year round international resort des-tination. Due to its proximity and ease of access to State Road 60 (Clearwater Memorial Causeway), the primary east-west transportation artery, ac-cess is easily provided to the region’s large entertainment, educational and employment base.

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Clearwater Beach Development Opportunity - Property Aerial View

Previously approved 16 unit luxury condo development and 14 boat slips.

102 room hotel under construction

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Previously Approved Luxury Channel Club Condominium

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Previously Approved Project Channel Club Condominium

Expanded Development Site Location Map



Building Area Detail North Building South Building 693 Bay Esplanade 687 Bay Esplanade

29,899 S.F 29,899 S.F Gross Living Area 24,148 S.F 24,148 S.F Living Area Floors 1-4 4,490 S.F 4,490 S.F Gross Garage Area 5,751 S.F 5,751 S.F Conditioned Garage Area 389 S.F 389 S.F Balcony Area 1st thru 3rd Floors 773 S.F 773 S.F Balcony Area 4th Floors 710 S.F 710 S.F Conditioned Common Area 1-4 215 S.F 215 S.F

Project Data Use R - 2 R - 2 Type of Construction Type 2 A, sprinkled Type 2 A, sprinkled Bldg. Height Provided 44'.8" to Roof Deck 44'.8" to Roof Deck Max Bldg Height Allowed 44'.83" to Roof Deck 44'.83" to Roof Deck Flood Zone AE AE Max Bldgs. Height Allowed 46'.83" to Roof Deck

Gross Building Area

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PROPERTIES ON BAY ESPLANADE Clearwater Beach, FL

PROPERTY DESCRIPTION

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The offered properties, consist of: a two story single family home, of ap-proximately 1,746 square feet; a two story five unit motel of 2,816 square feet; a two story fourplex of 4,640 square feet; and a one story duplex of 2,816 square feet. The properties are situated on approximately .62 acres, with 244 feet of frontage on Bay Esplanade, 245 feet of frontage on the intracoastal waterway, and submerged lands of 90,604 square feet (2.08 acres), located in Clearwater Beach Tourist District and within the City of Clearwater.

Pricing:

Listing Price: $8,500,000

Price Per PSF: $799

Price Per Unit: $708,333

Sale Term: Cash to Seller

Property Overview:

Property Addresses: 699 Bay Esplanade

Clearwater Beach, FL 33767

APN/Parcel ID: Multiple Parcels Property Type: Single Family/Multi-Family/Hotel

Property Use Type: Investment

Number of Building Structures: 4

Number of Stories: 1 & 2

Number of Units 12

Rentable Square Feet 10,636

Gross Building Area/SF: 14,388

Gross Land Area/SF: 27,007

Lot Size (Acres): 0.62

90,604

Lot Size (Acres): 2.08

Dimensions: Irregular

Flood Zone AE

Map Number 12103C0102G

Map Date 9/3/2003

Lot Frontage: 244 Ft. on Bay Esplanade

Submerged Land (Rivers and Lakes)/SF

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Clearwater Beach Development Opportunity - Property Location Map

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699 BAY ESPLANADE AVE Clearwater Beach, FL


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699 BAY ESPLANADE | CLEARWATER BEACH, FL - Property Description

Property Overview: Property Addresses: 699 Bay Esplanade

Clearwater Beach, FL 33767 APN/Parcel ID: 05-29-15-54756-076-0010 Property Type: Single Family Property Use Type: Single Family Number of Building Structures: 1 Number of Stories: 2 Number of Units 1 Year Built 1984 Rentable Square Feet 1,746 Gross Building Area/SF: 4,032 Gross Land Area/SF: 6,482 Lot Size (Acres): 0.15 Dimensions: Irregular Zoning: SFR Flood Zone AE Map Number 12103C0102G Map Date 9/3/2003 Lot Frontage: 61 Ft. on Bay Esplanade Jurisdiction and Taxes: Nearest MSA: Tampa-St. Petersburg-Clearwater County: Pinellas Tax District: Clearwater Proposed Mileage Rates (2015): 21.1719 Proposed Real Estate Taxes (2015): $9,338.19 Access: Public Street: Public Street Street Surface: Asphalt Side of Street: East

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Clearwater Beach, FL 33767 APN/Parcel ID: 05-29-15-54756-076-0011 Property Type: Motel Property Use Type: Hotel/Motel Number of Building Structures: 1 Number of Stories: 2 Number of Units 5 Year Built 1949 Rentable Square Feet 2,816 Gross Building Area/SF: 3,774 Gross Land Area/SF: 6,538 Lot Size (Acres): 0.15 Dimensions: Irregular Zoning: Hotel/Motel-39 Flood Zone AE Map Number 12103C0102G Map Date 9/3/2003 Lot Frontage: 61 Ft. on Bay Esplanade Jurisdiction and Taxes: Nearest MSA: Tampa-St. Petersburg-Clearwater County: Pinellas Tax District: Clearwater Proposed Mileage Rates (2015): 21.1719 Proposed Real Estate Taxes (2015): $7,621.88 Access: Public Street: Public Street Street Surface: Asphalt

East Side of Street:

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Clearwater Beach, FL 33767 APN/Parcel ID: 05-29-15-54756-077-0130 Property Type: 4-Plex Property Use Type: Multy-Family Number of Building Structures: 1 Number of Stories: 2 Number of Units 4 Year Built 1951 Rentable Square Feet 4,640 Gross Building Area/SF: 4,640 Gross Land Area/SF: 6,321 Lot Size (Acres): 0.15 Dimensions: Irregular Zoning: Multi-Family<10 Flood Zone AE Map Number 12103C0102G Map Date 9/3/2003 Lot Frontage: 58 Ft. on Bay Esplanade Jurisdiction and Taxes: Nearest MSA: Tampa-St. Petersburg-Clearwater County: Pinellas Tax District: Clearwater Proposed Mileage Rates (2015): 21.1719 Proposed Real Estate Taxes (2015): $10,536.62 Access: Public Street: Public Street Street Surface: Asphalt Side of Street: East

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685-687 BAY ESPLANADE AVE Clearwater Beach, FL


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685-687 BAY ESPLANADE | CLEARWATER BEACH, FL - Property Description

Property Overview: Property Addresses: 687-685 Bay Esplanade

Clearwater Beach, FL 33767 APN/Parcel ID: 05-29-15-54756-077-0120 Property Type: 4-Plex Property Use Type: Multi-Family Number of Building Structures: 1 Number of Stories: 1 Number of Units 2 Year Built 1951 Rentable Square Feet 1,434 Gross Building Area/SF: 1,942 Gross Land Area/SF: 6,919 Lot Size (Acres): 0.16 Submerged Land/SF (Rivers and Lakes): 19,166

0.44 Dimensions: Irregular Zoning: Multi-Family<10 Flood Zone AE Map Number 12103C0102G Map Date 9/3/2003 Lot Frontage: 64 Ft. on Bay Esplanade Jurisdiction and Taxes: Nearest MSA: Tampa-St. Petersburg-Clearwater County: Pinellas Tax District: Clearwater Proposed Mileage Rates (2015): 21.1719 Proposed Real Estate Taxes (2015): $7,894.96 Access: Public Street: Public Street Street Surface: Asphalt Side of Street: East

Lot Size (Acres):

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685-687 BAY ESPLANADE | CLEARWATER BEACH, FL - Property Description

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SUBMERGED LAND Clearwater Beach, FL


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BAY ESPLANADE | CLEARWATER BEACH, FL - Property Description

Property Overview: Property Addresses:

APN/Parcel ID: 05-29-15-00000-310-0500 Property Type: Lake/River/Beach Property Use Type: Submerged Land Gross Land Area with Submerged Land/SF: 71,438 Lot Size (Acres): 1.64 Dimensions: Irregular Flood Zone AE Map Number 12103C0102G Map Date 9/3/2003 Lot Frontage: 242 Ft. on Intracoastal Jurisdiction and Taxes: Nearest MSA: Tampa-St. Petersburg-Clearwater County: Pinellas Tax District: Clearwater Proposed Mileage Rates (2015): 21.1719 Proposed Real Estate Taxes (2015): $1,394 Access: Public Street: Public Street Street Surface: Asphalt Side of Street: East

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DEMOGRAPHICS SUMMARY

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Tampa Bay - Demographics


Tampa Bay Demographics Population 2015 Estimate 4,439,363 2020 Projection 4,677,997 Households 2015 Estimate 1,831,703 2020 Projection 1,926,785 2014 Household Income Median Household Income $45,500 Average (Mean) Household Income $63,020 Population by Age Age 0-17 888,136 20.00%

Age 18-34 876,265 19.74%

Age 35-54 1,113,464 25.08%

Age 55-64 606,338 13.66%

Age 65+ 955,160 21.52%

Median Age 43.85

Average Age 42.89

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Investment Sales

Anthony “Tony” Maccaroni Cell: (727) 228-1940

[email protected]

Gladstone “Tony” Cooper Cell: (813) 541-3536

[email protected]

Georgette Gillis Immigration Consulting, International Hotel Broker

& Investment Specialist Cell: (727) 448-3533

[email protected]

VIEWPOINT REALTY INTERNATIONAL, INC. 1346 South Fort Harrison Ave.

Clearwater, Florida 33756 Office: (727) 584-7355

Financing Available


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CLEARWATER BEACH DEVELOPMENT OPPORTUNITY · Clearwater Beach Tourist District and within the City...

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