75 N Flagler Avenue, Stuart, FL, 34994...Property Images 2055 S Kanner Hwy. Stuart, Florida 34994 +1...

9 Acres Waterfront Opportunity Zone75 N Flagler Avenue, Stuart, FL, 34994

Offered At:

$17,000,000

Presented By

Boyd C. Bradfield Jr., GRI, CCIM, SIORFounder+1 772 286 [email protected]

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

Property Details• Location: 75 N. Flagler Stuart, FL on the Saint Lucie River

and easy walk to Historic Downtown Stuart

• Land: 9.147+/- Acres – 7 acres upland and 2.147 acre submerged land basin

• Frontage: 900+/- feet on the Saint Lucie River and

• Improvements: 8 Buildings containing 46,656+/- Square Feet

• Zoning: Industrial City of Stuart The City of Stuart is very flexible as to uses for this site. A change of use would be obtained by a Planned Unit Development Agreement.

• Price $17,000,000.00 (may consider dividing)

• Opportunity Zone: The subject has an added bonus of being in the Rio, Florida Opportunity Zone giving it the associated tax advantages.

• Video Tour: https://youtu.be/VXIBNlNy_jU

Property OverviewFirst time on the market since the mid-1960s. This is a very rare opportunity to purchase an iconic, historic property in beautiful Stuart, FL. Ralph Evinrude purchased it for the Ralph Evinrude Outboard Test Center. The facility first opened near the Roosevelt Bridge in the mid-1960s to field test in saltwater Evinrude, Johnson and OMC motors. Even though the facility’s operations have been reduced since Evinrude was bought by Bombardier Recreational Products of Quebec in 2001, testing still takes place there daily.


However, they do not need a facility this large so time to sell and move to a smaller updated facility nearby making for a very rare opportunity to purchase such a rare property.

This waterfront site located on the Saint Lucie River has easy access to the Okeechobee waterway, the Intracoastal Waterway and the Atlantic Ocean. Flagler Avenue is parallel to and has easy access to Dixie Hwy. This is a Convenient south Florida location approximately one-half mile north of downtown Stuart, Martin County, Florida. Near Witham Field, although there is no scheduled commercial airline service at the airport, the facility does maintain an operational air traffic control tower and is home to two fixed base operators (FBO) and more than 200 private and business aircraft and one-half hour (by car) north of the West Palm Beach Airport.

This all adds up to a site that works for many uses.

Possible Uses:Residential: This could be a high-end waterfront multi-family community. .

Mixed Use: This could be any number of uses that could include a hotel, restaurant, office, marine retail uses and residential.

Resort Marina: Slips may be able to be added and build hotel, restaurant, recreational marina, etc.

Working Marina: This is a prime site for a full-scale working marina and service facility. These sites are becoming very rare and there is a large demand.



SITESITE

Submerged Land Lease



Opportunity Zone

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• North of West Palm Beach• Census Tract: 5.01 • City of Stuart • Rio (Martin County • Jensen Beach (Martin County • Town of Ocean Breeze

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



Opportunity Zone

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.



Land Survey



Property Images



Location Map


Area Map9 Acres Waterfront Opportunity Zone75 N Flagler Avenue, Stuart, FL, 34994

Stuart, Florida is located on Florida’s East Coast, which borders the St. Lucie River and West of the Indian River. The climate is pleasant with mild winters and warm summers. The annual average temperature is 72 degrees. Annual rainfall averages 70.44 inches.

Stuart is famed for Sail fishing and all other types of sport fishing, you can enjoy Ocean fishing, river and bay fishing, fresh water fishing. The North and South forks of the St. Luc-ie River are tropical wonderlands for cruises. Stuart has quaint older neighborhoods in the downtown area. There is a mixture of town homes and condominiums. Stuart’s success-ful revitalization program has made the Downtown area a pleasant ambiance, lined with shops and restaurants.

The top major employers are, Martin Memorial Hospital, Vought Aircraft, Municipal Gov-ernment, and thousands of successful small businesses. The economy is driven by retail service, hospitality, construction and government sectors located throughout the city.

At the present time Stuart is a growing community, annexing new properties north and south of the city, currently 6.25 square miles. Revitalization is in progress in the Potsdam section of the downtown area as well as North of the new Roosevelt Bridge. The new Roosevelt Bridge was completed in 1996, and the Department of Transportation recently finished the Evans Crary Bridge, which leads to Stuart’s Public Beaches.


City Overview City of Stuart, Florida


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.

January 08, 2020

©2020 Esri Page 1 of 1

Population

• 1 Mile 2,686

• 3 Mile: 38,956

• 5 Mile: 89,415

Average Household Income

• 1 Mile $98,137

• 3 Mile: $86,173

• 5 Mile: $88,632

Median Age

• 1 Mile 51.6

• 3 Mile: 54.5

• 5 Mile: 52.8

Demographic and Income Comparison Profile415 NW Flagler Ave, Stuart, Florida, 34994 NAI SouthcoastRings: 1, 3, 5 mile radii Latitude: 27.21501

Longitude: -80.25777

1 mile

AreaStateUSA

Trends 2019-2024Trends 2019-2024

Ann

ual R

ate

(in

perc

ent)

2.22

1.81.61.41.2

10.80.60.40.2

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

< $15K13.7%

$15K - $24K7.5%

$25K - $34K11.5%

$35K - $49K9.4%

$50K - $74K21.8%

$75K - $99K6.4% $100K - $149K

12.1%

$150K - $199K4.3%

$200K+13.4%

2019 Population by Race2019 Population by Race

Perc

ent

90

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.

January 08, 2020

©2020 Esri Page 5 of 7

2019 Demographics

LISTING AGENTS

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:

$17,000,000

Offering Summary

Presented By

Boyd C. Bradfield Jr., GRI, CCIM, SIORFounder+1 772 286 [email protected]

75 N Flagler Avenue, Stuart, FL, 34994...Property Images 2055 S Kanner Hwy. Stuart, Florida 34994 +1...

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