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325 HARDING STHOLLYWOOD BEACH
OFFER MEMORANDUM$1,990,000
13-P
lex H
olly
wood B
each
PeterDackoMedia Realty & Advisors
954-923-2325
954-328-8248
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Offering Memorandum isproprietary and strictly confidential. It is intended to be reviewedonly by the party receiving it from Media Realty & Advisors, Inc.(Media Realty)and should not be made available to any other personor entity without the written consent of Media Realty. This MarketingBrochure has been prepared to provide summary, unverifiedinformation to prospective purchasers, and to establish only apreliminary level of interest in the subject property. The informationcontained herein is not a substitute for a thorough due diligenceinvestigation. Media Realty has not made any investigation, andmakes no warranty or representation, with respect to the income orexpenses for the subject property, the future projected financialperformance of the property, the size and square footage of theproperty and improvements, the presence or absence ofcontaminating substances, PCB's or asbestos, the compliance withState and Federal regulations, the physical condition of theimprovements thereon, or the financial condition or business prospectsof any tenant, or any tenant’s plans or intentions to continue itsoccupancy of the subject property. The information contained in thisMarketing Brochure has been obtained from sources we believe to bereliable; however, Media Realty has not verified, and will not verify,any of the information contained herein, nor has Media Realtyconducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy orcompleteness of the information provided. All potential buyers musttake appropriate measures to verify all of the information set forthherein.
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TABLE OF CONTENTS
ForwardHollywood Beach
Section 1 Subject Property
Section 2 Rent Comparables
Section 3Sale Comparables
Section 4Financials
3
HOLLYWOOD BEACH REDEVELOPMENT
This analysis has been prepared solely for informational purposes to assist the owner(s) in determining whether to proceed with the sale of the property.
No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be
liable for misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of
action. Page 4
BEACH IMPROVEMENTS PARKING GARAGE AND COMMUNITY CENTER
The two story community center
adjacent to the garage will house
public restroom facilities at grade
level and a small paddleball pro-
shop. The second floor of the
community center will have a
continuous balcony facing east and
south. It will have a 1,735 S.F.
multipurpose community center
room/banquet hall with support
services such as a kitchen, office
and restrooms.
The architectural style of this
project is Nautical Deco. Extensive
landscaping will be utilized on both
Connecticut and Garfield Streets as
a buffer zone for the garage, and
there will be a shaded pedestrian
walkway along these streets as
well. Finish paving and landscape
materials will be congruous with
those utilized in the adjacent
Charnow Park renovation project.
The paddleball courts will remain in
their present location, and receive
new fencing and access gates.
This analysis has been prepared solely for informational purposes to assist the owner(s) in determining whether to proceed with the sale of the property.
No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be
liable for misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of
action. Page 5
BEACH IMPROVEMENTS CHARNOW PARK RENOVATION
The park will be completely renovated
and improved providing many new
amenities. This urban pocket park
along the beach will provide the
backdrop for an extensive array of
activities.
A large entertainment plaza with an interactive water fountain, surrounded by tiered shaded seating
4 Picnic Pavilions and a large entertainment pavilion (open on all sides)
Two new play areas will include state-of-the-art playground equipment for both very young toddlers and older children
Extensive native landscaping and hardscape material coordinated with the Broadwalk Renovation project and Garfield Street Parking Garage and Community Center will unify this entire site
This analysis has been prepared solely for informational purposes to assist the owner(s) in determining whether to proceed with the sale of the property.
No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be
liable for misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of
action. Page 6
BEACH IMPROVEMENTS; THE BROADWALK
Beach CRA funds projected at
$14,150,400 will provide a complete
makeover of the oceanfront
Broadwalk.
Improvements include:
▪Multicolored concrete decorative
pavers in the pedestrian area
▪Tabby concrete bike path
▪Crushed shell jogging path
18" high decorative wall with LED
lighting
▪Historically significant Tri-globe and
Acorn lighting fixtures with decorative
concrete pads
▪Palm Tree clusters
▪Re-location of showers and the
addition of ADA accessible shower
▪New public restrooms
Beach CRA funds projected at
$7,200,000 will provide
improvements to street ends along
the Hollywood Beach Broadwalk.
Project details below:
* 40 Blocks, Thomas to Jefferson
Street
* Create gateways, landscaped plazas
and vista points
* Incoporate water features, sculptures
and / or central focal points
* Pave sidewalks and streets with
decorative pavers
This analysis has been prepared solely for informational purposes to assist the owner(s) in determining whether to proceed with the sale of the property.
No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be
liable for misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of
action. Page 7
UNDERGROUND UTILITIES & SEWER UPGRADES
Beach CRA funds estimated at
$22,526,400 will be used for the
conversion of underground utilities.
Project details are below:
* 52 blocks, Thomas to Magnolia
Street
* FPL, Bellsouth and Comcast lines
* Underground service* from right-of-
way to private property
* Estimated project completion date is
June 2010
Beach CRA funds in the amount of
$15,600,000 are being used to replace
water and sewer lines along surf road
and the east-west streets.
This is the first of a multiphase capital
improvements project implemented by
the City of Hollywood's Design and
Construction Management
Department.
This analysis has been prepared solely for informational purposes to assist the owner(s) in determining whether to proceed with the sale of the property.
No representation as to the accuracy or appropriateness of the information is made. Although we believe the information to be reliable, we will not be
liable for misstatements of facts, errors, omissions, or prior sale of the property. Owners must verify the information when determining their best choice of
action. Page 8
SUBJECT PROPERTY Section 1
9
325 HARDING ST
Well-maintained Hollywood Beach Gem consisting of 13
with 2 separate folios. The interior units have been
updated with newer kitchen cabinets, tile back splash and
appliances See Photo Addendum. The subject property
rents during the season and is sealed up off season. There
is a 2nd story manager’s unit consisting of the kitchen
living room and large bedroom. The other 12 units are
studios with a full kitchen. Between the 2 buildings is an
inviting courtyard which extends the living area. There are
8 parking spaces. The income and expenses are based on
a pro forma utilizing current rent survey for short term
vacation rentals on Hollywood beach.
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BCPA
11This analysis has been prepared solely for informational purposes to assist the owner(s) in determining whether to proceed with
the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe
the information to be reliable, we will not be liable for misstatements of facts, errors, omissions, or prior sale of the property.
Owners must verify the information when determining their best choice of action.
BCPA
12This analysis has been prepared solely for informational purposes to assist the owner(s) in determining whether to proceed with
the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe
the information to be reliable, we will not be liable for misstatements of facts, errors, omissions, or prior sale of the property.
Owners must verify the information when determining their best choice of action.
SKETCH
13This analysis has been prepared solely for informational purposes to assist the owner(s) in determining whether to proceed with
the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe
the information to be reliable, we will not be liable for misstatements of facts, errors, omissions, or prior sale of the property.
Owners must verify the information when determining their best choice of action.
ZONING & DEVELOPMENT REGULATIONS
325 Harding Street
Hollywood Beach
14
AERIAL VIEWBEACH RESORT RESIDENTIAL DISTRICT
15This analysis has been prepared solely for informational purposes to assist the owner(s) in determining whether to proceed with
the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe
the information to be reliable, we will not be liable for misstatements of facts, errors, omissions, or prior sale of the property.
Owners must verify the information when determining their best choice of action.
Zoning BRT-25-R
DEVELOPMENT REGULATIONS BTR-25
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Beach Community Redevelopment Districts.
a. Beach Resort Residential District – BRT-25-R. All properties within BRT-25-R shall
meet all applicable codes and regulations as well as Specific Site Requirements,
General Site Requirements, Landscape Standards and District Design Standards. See
Appendix 1, for illustration of height and setback requirements. 1. Uses:
a. Main permitted uses:
• Residential;
• Hotels and motels; and
• Bed & Breakfast.
b. Special exception:
• Places of public assembly, including places of worship, meeting halls
and fraternal lodges; and
• Schools, public or private, including adult educational facilities.
2. Maximum density:
a. Residential: 25 units per acre
b. Hotel/motel: 50 rooms per acre
3. Building height:
a. North of Tyler Street - 50 feet
b. South of Harrison Street - 65 feet
4. Building setbacks:
a. Building base setbacks:
Cross
Streets**
20 feet
10 feet for lots less than or equal to 120 feet wide
and 80 feet deep and not to include thru lots
Ancillary
Retail
5 feet for lots less than or equal to 120 feet wide and
80 feet deep and not to include thru lots
State Road
A1A 10 feet
Surf Road
10 feet
5 feet for lots less than or equal to 120 feet wide and
80 feet deep and not to include thru lots
Interior
5 feet
For lots less than or equal to 40 feet wide and 80 feet
deep (single lots), only one side setback is required
DEVELOPMENT REGULATIONS BTR-25
17
**Cross Street setbacks may be a minimum of ten feet for up to 40% of the site
frontage.
b. Building tower setbacks***
Cross
Streets
25 feet
10 feet for lots less than or equal
to 120 feet wide and 80 feet
deep and not to include thru lots
State
Road
A1A
20 feet
10 feet for lots less than or equal
to 120 feet wide and 80 feet
deep and not to include thru lots
Surf
Road
15 feet
10 feet for lots less than or equal
to 120 feet wide and 80 feet
deep and not to include thru lots
Off-street parking standards:
a. Notwithstanding the provisions of Article 7 of the Zoning and Land
Development Regulations, the following parking standards shall apply:
Residential Minimum 1
space/unit
Maximum 1.5
spaces/unit
Hotel/Motel Minimum 1
space/room
Maximum 1
space/room
The following minimums shall apply for lots
less than or equal to 40 feet by 80 feet: 0-4
rooms: 0 spaces/room
DEVELOPMENT REGULATIONS BTR-25
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District
(Multiple Family
MF)
Maximum
Density, units
per acre*
Single Family Duplex Town house Apt. Bldg. Hotel Commercial
(5) BRT-25
(Beach Resort
MF)
25 for Apt. Bldg.
50 for Hotel,
except if
Comprehensive
Plan land Use
designation is
Commercial **
Yes Yes Yes Yes Yes
Special Exception for eating
and drinking uses if east of
AIA, otherwise they are a
Permitted Use; pawn, thrift,
consignment shops, psychic
help uses, tattoo shops and
office are prohibited; all other
commercial uses are permitted.
Minimum Unit Size (Sq. Ft.)
District
Mi
n.
Lo
t
Ar
ea
(sq
.
ft.)
*
Min. Lot
Width* (ft.)
Max. Height
(ft.)
Land- scape,
open space**
Single Family
(SF)
Duplex
(Dup)Townhouse. Apt. Hotel
(5)BRT-2560
0060
North of Tyler
to Sherman
Street - 50
feet.
South of
Harrison St. -
65 ft. and
North of
Balboa Street
- 150 ft.
40% 1000 500 800500 Min
750 Avg
15% of units
300-335; 85%
of units 335+
PHOTO ADDENDUM 325 Harding St
Hollywood Beach
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PHOTO ADDENDUM
PHOTO ADDENDUM
PHOTO ADDENDUM
PHOTO ADDENDUM
PHOTO ADDENDUM
PHOTO ADDENDUM
PHOTO ADDENDUMUNIT 2ND FLOOR
RENT SURVEY Section 2
RENT SURVEY HOLLYWOOD BEACHVACATION RENTALS
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Day Week
T
Coral House
2300 N Surf Rd One Bedroom In Season
954-922-9411 Off Season $114
Manta Ray Inn One Bedroom In Season $169-$189 $1025-$1100
1715 S. Surf Road Off Season $230-$250 $1400-$1500
954-921-9666
www.mantarayinn.com Two Bedroom In Season $345 $1,995
Off Season $275 $1,622
DeSoto Oceanview Inn Efficiency $169
315 DeSoto Street Studio $149
(954) 923-7210 One Bedroom $189
www.thedesoto.com
Sheldon Hotel One Bedroom In Season $150-$239
1000 N SURF ROAD Off Season $124-$214
844-277-2391
Sea Downs Efficency In Season $150-$165 $975-$1071
2900 N Surf Rd Off Season $99-$115 $581-$693
954-923-4968
www.seadowns.com One Bedroom In Season $165-$175 $1092-$1190
Off Season $116-$126 $700-$815
Two Bedroom In Season $1554-$1645
Off Season $1043-$1085
Atlantic Sands One Bedroom In Season $210 $1,065
310-318 Hayes Street Off Season $115 $775
954-921-4123
www.atlanticsandsfl.com
RENT SURVEY HOLLYWOOD BEACHVACATION RENTALS
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Hollywood Beach Seagull Efficency In Season $162
333 Oklahoma ST Off Season $95
305-538-6631
The St. Maurice Beach Inn Standard In Season $150
310 Michigan St. Off Season $80
954-925-0527
stmauriceinn.com/ Efficency In Season $180
Off Season $100
One Bedroom In Season $300
Off Season $219
Silver Spray Motel Standard In Season $189
2115 N Ocean Dr Off Season $89
954-922-3157
Studio In Season $229
Off Season $120
Hollywood Beach Swan Standard In Season $177
1915 N Ocean Dr Off Season $139
954-923-8020
Suite In Season $338
Off Season $197
Hollywood Beach Sea Turtle Standard In Season $280
315 Roosevelt Off Season $87
786-439-9967
www.seaturtleresort.com
Sun Beach Inn Standard In Season $338
309 Oklahoma ST Off Season $94
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Address Room Type In Season Out of
Season
2710 N OCEAN DR Efficencies $500
Dream Inn Hotel Rooms $700
320 NEBRASKA ST One Bedroom $877 $1,245
Hollywood by the Sea
310-318 HAYES St Eff $1,050 $395
Atlantic Sands
322 NEVADA ST Eff 850-1000 650-800
Nevada Street Apartments One Bedroom 1000-1400 800-100
810 South Surf Road Eff $1,162 $952
Marine Villas One Bedroom $1,365 $1,162
315-319 McKinley Street Eff $775 $490
Dolphin Motel Large Eff $875 $560
One Bedrom $1,000 $700
342 Buchanan Street Eff $720 $490
Angle Fish Inn Large Eff $800 $560
One Bedrom $900 $700
Large One Bedroom $1,050 $800
315 Desoto Street Eff $1,393 $903
The Desoto Oceanspray Inn Large Eff $1,603 $1,043
One Bedrom $1,883 $1,183
Weekly
RENT SURVEY STUDIO & 1 BEDROOM APT SEASONALLY
RENT SURVEY HOLLYWOOD BEACHANNUAL RENTALS
31
Address CITY List Price Sale Price CDMOVE
IN$
Days on
MarketBed Bath
Year
BuiltPETS POOL
324 Indiana St HOLLYWD $1,400 1400 12 0 1 1931 Y N
101 N OCEAN DRIVE # 509HOLLYWD $1,350 $1,350 11/23/2015 224 0 1 1925 N Y
3220 N Surf Road # 3 HOLLYWD $1,000 $1,000 4/20/2016 3050 0 1 1954 N N
2118 N Ocean Dr # 1 HOLLYWD $1,250 $1,250 6/7/2016 0 1 1963 N N
$1,250 $1,200
324 INDIANA ST HOLLYWD $1,700 700 1049 1 1 1931 Y N
326 WILSON ST # 104 HOLLYWD $2,000 1 1 N N
1900 N OCEAN DR # 7 HOLLYWD $1,300 $1,300 12/1/2015 3900 54 1 1 1947 N N
2501 OCEAN DR HOLLYWD $2,300 $2,300 263 1 1 N Y
3220 N SURF RD # 2 HOLLYWD $1,600 $1,600 4/15/2016 4850 1 2 1954 N N
$1,515 $1,429
1418 N OCEAN # 3 HOLLYWD $2,200 $2,200 7000 75 3 2 Y N
1418 N Ocean Dr # 2 HOLLYWD $2,500 $2,500 7/12/2016 6000 3 2 1940 Y N
$1,643 $1,613
COMPARABLE SALES Section 3
DIRECT SALES COMPARISON
33
A comparable sale is property that is similar to the subject property in most respects. It is
located in a nearby location. It has recently sold for a fair market value. The selection of
comparable sales is in most appraisals is the single most determining factor in establishing
the value. The responsibility is to fully research the local real estate market and determine
which comparable sales represent the best value characteristics of the subject property.
The market or direct sales comparison approach to an estimate of value is a process of
comparing market data, that is, prices paid for similar properties, prices asked by owners,
and offers made by prospective buyers or the tenants willing to buy or lease. Typically a
comparison grid is used and adjustments are made to each comparable sales used for
major differences between the comparable and the subject property for such items as
location, construction quality and significant amentias, etc. In the market approach, the
attempts are made to both gauge and reflect the anticipated reaction by a typical
purchaser to the subject property.
This analysis has been prepared solely for informational purposes to assist the owner(s) in determining whether to proceed with
the sale of the property. No representation as to the accuracy or appropriateness of the information is made. Although we believe
the information to be reliable, we will not be liable for misstatements of facts, errors, omissions, or prior sale of the property.
Owners must verify the information when determining their best choice of action.
COMPARABLE GRID CHART 2017HOLLYWOOD BEACHPRIMARY EMPHASIS
24
AddressOriginal List
PriceCurrent Price Sale Price Closing Date
Days
on
Market
#Units Unit Breakdown & Rent AnalysisAdjusted
Area SF
Lot
Size
Year
Built
Price per
SqFT
Price per
Unit GRM CAP
325 Harding St $2,675,000 13 11 (0/1); (2/1) ; (1/1) 3994 6606 1956 $669.75 $205,769 9.6 6.0%
326 Fillmore St $1,439,000 $1,439,000 294 6 2 (1/2) ;4 (0/1) 2389 3191 1955 $602.34 $239,833 11.99 3.9%
309 Oklahoma St $2,000,000 $2,000,000 9 8 (0/1); (1/1) 4048 6618 1952 $494.07 $222,222 5.88 8.0%
311 Nebraska St $2,995,000 $2,525,000 182 10 7 0/1); 3 (1/1) 4064 7052 1941 $621.31 $252,500 9.02 5.2%
315 Roosevelt St $2,950,000 $2,750,000 154 8 8 (1/1) 3665 6305 1957 $750.34 $343,750
320 Cleveland St $3,750,000 $2,900,000 9 7 (0/1) 2 Twnhses 6439 10032 1953 $450.38 $322,222
317 POLK ST $3,170,000 $2,990,000 6 (2/1) 3 (1/1) 2(0/1) 3339 6380 1940 $895.48 $498,333 9.97 4.7%
324 Van Buren St Unit#20 $4,490,000 $3,500,000 445 20 16 (0/1) 2 (2/1) 2 (2/2) 7184 12746 1954 $487.19 $175,000 12.73 3.7%
1907 N SURF RD Legal 9 Units $5,900,000 $3,695,000 13 13 (0/1) $1500/Wk Direct H20 3892 6647 1960 $949.38 $284,231 8.21 5.7%
2115 N Ocean Dr $3,700,000 $3,700,000 51 21 18 (0/1) 3 (1/2) 7081 11896 1970 $522.53 $176,190 9.47 4.9%
1500 N Ocean Dr Condo $4,500,000 $4,500,000 17 14 (0/1) 3 (1/1) 4574 $983.82 $264,706
1915 N Ocean Dr $17,500,000 $15,000,000 171 54 54 (0/1) 22165 22165 1953 $676.74 $277,778
311 Nebraska Street $2,250,000 $2,090,000 11/18/2015 10 3 (1/1) 7 (0/1) 4064 6500 1980 $514.27 $209,000 7.00 7.2%
315 Arthur St $3,850,000 5/3/2016 15 14 (1/1) (0/1) 7383 9816 1953 $521.47 $256,667
322 Nevada St $3,650,000 $3,500,000 3/8/2016 15 9 (1/1) 6 (0/1) 8054 10019 1957 $434.57 $233,333 15.91 3.2%
328 Minnesota St $1,200,000 $1,200,000 $1,085,000 7/12/2017 49 8 8 (1/1) $379/Wk 2279 3459 1989 $476.09 $135,625
315 Buchanan St $1,499,999 $1,499,999 $1,230,000 5/3/2017 41 5 (1/2) 3 (1/1) (0/1) 2486 3190 1968 $494.77 $246,000
332 Georgia St # 1-4 $810,000 3/31/2017 4 1768 3137 1954 $458.14 $202,500
315 Grant St $958,800 8/4/2016 2 1462 3310 1940 $655.81 $479,400
328 Polk St $820,000 3/1/2017 2 1658 4786 1956 $494.57 $410,000
$604.38 $275,226
$515.88 $294,705
COMPARABLE GRID CHART 2015-2016HOLLYWOOD BEACH LEAST EMPHASIS
24
Address CITY H2O List Price Sale Price CDDays on
MarketNo Units Adj SF
Year
BuiltUnit Breakdown Zoning $/Unit $/SF
325 Harding St HOLLYWD N $2,675,000 13 3994 1956 11 (0/1); (2/1); (1/1) BRT-25 $205,769 669.7546
2200 N OCEAN DR H2O HOLLYWD Y 1,850,000 7 7 3118 1962 COM $264,286 $593.33
2710 N Ocean Dr HOLLYWD N 2,500,000 12 3555 1965 7 Studio, 5 Hotel rms BRT-25 $208,333 $703.23
317 POLK ST HOLLYWD N 3,500,000 411 6 3339 1940 (2/1) $1450; 3(1/1) $1250; 2 Studio $950 BRT-25 $583,333 $1,048.22
1907 N SURF RD HOLLYWD Y 3,950,000 169 13 3892 1960 13 Studios $1500 COM $303,846 $1,014.90
315 Grant St HOLLYWD N 1,100,000 Pending 354 2 1624 1970 2 (2/1) Ronavated $550,000 $677.34
332 Walnut St HOLLYWD N 825,000 2 1400 1966 (1/1) $1200 (1/2) $1200 $412,500 $589.29
324 Van Buren St HOLLYWD Y 4,490,000 20 7184 1954 16 Studios; 2 (2/1); 2 (2/2) BRT-25 $224,500 $625.00
1315 N Ocean Dr HOLLYWD 650,000 4 1214 $162,500 $535.42
309 Oklahoma ST HOLLYWD N 2,500,000 6 4048 $416,667 $617.59
310 MCKINLEY ST H2O HOLLYWD Y 12,300,000 119 29 16670 1982 Redevelopment Neptune Timeshare 0 $424,138 $737.85
2300 N SURF RD H2O HOLLYWD Y 15,900,000 22 21 7348 1970 COM $757,143 $2,163.85
322 NEVADA ST HOLLYWD N 3,650,000 3,500,000 3/7/2016 706 15 8054 1971 9 (1/1); 6 (Studios) 0 $233,333 $434.57
320 Misouri ST HOLLYWD N 879,000 800,000 5/16/2016 369 3 2297 1978 3 (1/1) $266,667 $348.28
315 ARTHUR ST HOLLYWD N 4,150,000 3,850,000 5/2/2016 64 15 7383 1960 14 (1/1); 1 Studio MOTEL $256,667 $521.47
330 COOLIDGE ST HOLLYWD N 795,000 9/16/2015 4 2110 1951 (2/1) $2400(1/1)$1900 2 Eff$1100 $198,750 $376.78
319 NEW YORK ST HOLLYWD N 1,115,000 10/20/2015 2 2525 1960 SRF (3/2) SFR (1/1) $557,500 $441.58
1418 N OCEAN DR HOLLYWD Y 1,300,000 7/30/2015 2 2173 1962 $650,000 $598.25
346 BUCHANAN ST HOLLYWD N 1,300,000 8/26/2015 3 1504 1940 $433,333 $864.36
Listed $355,010 $714.22
Sold $370,893 $512.18
COMPARABLE GRID CHART 2015HOLLYWOOD BEACHSECONDARY EMPHASIS
24
Address CITY List Price Sale Price CDDays on
Market#U Breakdown & Rent Survey H2O Adj SF
Lot
SizePrice/Unit Price/SF GRM
Cap
Rate
Year
Built
325 Harding St 2675000 13 n 3994 6606 $205,769 $669.75 9.60 6.1% 1956
326 Fillmore St HOLLYWD 1,439,000 7 6 2 Eff 4 (1/1) $1850 N 2,389 3191 $239,833 $602.34 11.9 4.7% 1955
2200 N OCEAN DR HOLLYWD 1,750,000 411 2 Commercial Y 3118 5561 $875,000 $561.26 10.7 5.3% 1962
317 POLK ST HOLLYWD 3,200,000 6 (2/1) $1450 3 (1/1) $1250 (0/1) $950 N 3339 6400 $533,333 $958.37 1940
320 Cleveland St HOLLYWD 3,750,000 9 7 (0/1); (2/2) (4/2) 2 Twnhse N 6439 10332 $416,667 $582.39 1953
324 Van Buren St # 20HOLLYWD 3,800,000 169 20 16 (0/1) 2 (1/1); 2 (2/1) Y 7100 12746 $190,000 $535.21 13.8 4.1% 1954
1907 N SURF RD 3,950,000 13 13 (0/1) $1500/WK Y 3892 6400 $303,846 $1,014.90 8.8 6.4% 1960
350 WALNUT ST HOLLYWD 849,000 845,000 3/27/2015 172 5 3 (1/1) $1200; 2 (0/1) $950 Superior N 2427 6291 $169,000 $348.17 14.1 4.0% 1954
319 TYLER ST 1,300,000 1,250,000 10/24/2014 83 4 N 2875 12800 $312,500 $434.78 1945
333 WALNUT ST 1,800,000 1,600,000 5/25/2015 146 6 6 (1/1) Superior N 3257 9,437 $266,667 $491.25 1956
335 WALNUT ST 1,850,000 8/25/2015 N 5021 9,584 $368.45 1954
335 DE SOTO 1,250,000 5/15/2015 20 N 3657 6,534 $62,500 $341.81 1969
415 S OCEAN DR 3,200,000 3,000,000 5/4/2015 19 N 9461 18,270 $157,895 $317.09 6.2% 1952
311 NEBRASKA ST 2,250,000 2,100,000 11/13/2015 103 10 3 (1/1) $4000/M; 7 (0/1) N 4064 6400 $210,000 $516.73 7.0 8.0% 1980
322 NEVADA ST HOLLYWD 3,650,000 3,500,000 3/7/2016 795 15 9 (1/1); 6 (0/1) N 8054 9927 $233,333 $434.57 15.9 3.5% 1971
315 ARTHUR ST HOLLYWD 4,150,000 3,850,000 5/2/2016 209 15 570 N 7383 9816 $256,667 $521.47 1960
915 N OCEAN DR 9,400,000 9,000,000 4/9/2015 270 52 10 (1/1) $1500/W, 18 (0/1) N 15000 32000 $173,077 $600.00 15.0 3.7% 1960
Listed $316,753 $570.30 11.3 5.1%
254 Sold $204,626 $437.43 13.0 5.1%
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INCOME & EXPENSES Section 4
UNDERSTANDING CAP RATES
Example: A property has a NOI of $100,000 and a Cap Rate of 10%. Thus a value of $1,000,000
As the Cap increases to 11% the price decreases to $909,000
Conversely as the Cap Rate decreases to 9% the overall value has increased to $1,100,000
Sub-Market: For each $1,000 of NOI, our market responds with between $11,000 to $12,000 of value
=Value
Net Operating Income (NOI)Capitalization Rate
$100,000
10%= $1,000,000
$100,000
11%= $909,091
$100,000
9%= $1,111,111
Buyer: Cap Rate goes up
Seller: Cap Rate goes down
INCOME AND EXPENSE
1
Price:
25.00% $497,500 Terms:
13
$153,077
7.2
8.80%
$84.33
1956
6,606.0
3,994
$498.25
$336,800
$58,840
$277,960
102,789
175,171$
100,653
74,518$ *
11,573
86,091$ *
Taxes: 38,191$
UNIT BDRMS/ Weekly Monthly Total Seasonal Weekly Monthly Total Off 12,000
NUM BATHS Rent Rent/Unit Income Rent/Unit Income Season Income 4,500
3 0/1 Large 1,200 $3,420 $13,680 $1,680 $53,760 6,000
8 0/1 Small 1,000 $7,600 $30,400 $3,840 $122,880 Landscaping 1,800
1 2/1 1,500 $1,425 $5,700 $800 $25,600 200
1 1/1 1,100 $1,045 $4,180 $680 $21,760 Labor 13,600
$53,960 $224,000 Management 13,898
NOTE Occupancy is estimated at 6,000
95% for 16 Weeks In Season Cable & WiFi 6,600
70% for 32 Week Off Season
$13,490 $7,000
$13,490 102,789$
In Season Off Season Per Net Sq.Ft.: $25.74
Scheduled Gross Income per Season: $53,960 $224,000 Per Unit: $7,906.87
Water & Trash
Total Expenses:
Electric
Maintenance:
Monthly Scheduled Gross Income:
Total Scheduled Rent:
$7,000
$700
$600
$1,000
17.30%
Net Operating Income:
Less Loan Payments:
14.98%
$850
Licenses
Annualized Expenses
Pre Tax Cash Flow:
Total Return Before Taxes:
Plus Principal Reduction:
IN SEASON 16 Weeks 95% Occupancy
Scheduled Income
Insurance:
Off Season 32 Weeks 80% Occupancy
Summary Proposed Financing
interest
yr. amortization
4.50%Down Payment:
Price per Unit
Current GRM:
SQ FTApproximate Lot Size:
Less Vacancy Rate Reserve:
Annualized Operating Data
$1,492,500
25
$1,990,000
$8,387.73
Number of Units:
Monthly Payment:
Purchase Money Mortgage
Current CAP:
Annual Rent per Square Foot:
Approximate Age:
Approximate Net RSF:
Cost per Net RSF:
Gross Operating Income:
Less Expenses:
Current Rents
Scheduled Gross Income:
17.47%