Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama...
Transcript of Grand Bahama Island Investment Opportunity · PDF fileGrand Bahama Island ... Grand Bahama...
T O M M C M A N U S 2 0 1 7
Grand Bahama Island Investment Opportunity
Overview
Lying just 75 miles off the coast of Florida, Grand Bahama Island offers carefree living with a small community feel. Easily fly into Freeport from numerous locations in the United States and Europe to encounter pristine white sand beaches offering an array of water activities including sportfishing, sailing, snorkeling and scuba-diving in crystal clear turquoise waters. With more than 300 sunny days each year and an average annual temperature of 75 degrees, nearly every day is perfect for taking advantage of all there is to see and do. Additionally, freedom from most types of taxes – property, income, capital gains, inheritance and corporate – makes this locale even more enticing.
Considerable resources have been devoted to land planning along with the creation of a unique master plan regarding this particular investment opportunity. There has been a significant investment made in infrastructure, which allows for immediate development on several key sites.
As you will see in the following analysis, opinion of values along with existing improvements are approximatively $40,000,000 (USD) in total valuation. This includes more than 200 boat slips at the Grand Bahama Yacht Club and Port Lucaya Marina, approximately 65 acres of land, and approved development for an additional 277 dwelling units.
Development opportunities consist of luxury townhomes, single-family residences, multi-family housing, commercial development, and expanding the marinas.
Valuation
Asset Acres Total SFCOMPS. ($5 - $9
PSF)
Opinion of Value Improvements Total Value Zoning Approved
DevelopmentTotal Units Available
Grand Bahama Yacht Club
9.68 421,660.8 $9.00 $3,794,947.20 $13,000.00 $16,794,947.20 Marina Marina 123 104
Port Lucaya Marina 10.6 461,736.0 $9.00 - $5,000,000.00 $5,000,000.00 Marina Marina 110 -
Site A (GBYC Marina Village)
6.11 266,151.6 $9.00 $2,395,364.40 $2,500,000.00 $4,895,364.40 Tourist Commercial Townhomes 65 50
Site B 2.16 94,089.6 $6.00 $564,537.60 - $564,537.60 Tourist Commercial Townhomes 96 96
Site C 3.13 136,342.8 $6.00 $818,056.80 - $818,056.80 Multi-family High Rise Townhomes 48 48
Site D 5.50 239,580.0 $8.00 $1,916,640.00 - $1,916,640.00 Multi-family High Rise Single Family 8 8
Site E 5.28 229,996.8 $8.00 $1,839,974.40 - $1,839,974.40 TC/MFHR Condominium 30 30
Flying Fish Restaurant
0.44 19,166.4 $9.00 $172,497.60 $850,000.00 $1,022,497.60 Tourist Commercial Restaurant/ Commercial
- -
Tract J 6.19 269,636.4 $8.00 $2,157,091.20 - $2,157,091.20 Tourist Commercial Multi-family 45 45
Beach Club 7.62 331,927.2 $8.00 $2,655,417.60 - $2,655,417.60 Community Beach None - -
Bank Site 1.89 82,328.4 $7.00 $576,298.80 - $576,298.80 Multi-family Commercial - -
Medical Center 5.87 255,697.2 $5.00 $1,278,486.00 - $1,278,486.00 Retail/ Commercial Commercial - -
64.5 2,808,313.20 $18,169,311.60 $21,350,000.00 $39,519,311.60 292 277
Development Sites
Grand Bahama Yacht Club
Slips Owned
306
426
427
431
508
510
514
523
524
532
601
602
607
608
701
702
703
704
705
Total slips in GBYC Marina → 123 Sold → 19
Available → 104
GBYC Dock Sheet
Slips Sold -- 19 out of 123 slips
A-Dock B-Dock C-Dock D-Dock E-Dock G-Dock
LEFT RIGHT LEFT RIGHT LEFT RIGHT
201 303 304 403 408 505 502 601 701
202 305 306 405 410 507 504 602 702
203 307 308 407 412 509 506 603 703
204 309 310 409 414 511 508 604 704
205 311 312 411 416 513 510 605 705
206 313 314 413 418 515 512 606
315 316 415 420 517 514 607
317 318 417 422 519 516 608
319 320 419 424 521 518
321 322 421 426 532 520
323 324 423 428 531 522
325 326 425 430 524
327 328 427 432 523
329 330 429 438 525
331 332 431 439 526
333 334 433 440 527
335 336 434 441 528
337 338 435 442 529
436 530
437
Tier A -- 3 out of 6 M/Y slips
(boats up to 110 ft.)
Tier B -- 17 out of 19 slips
(boats up to 80 ft.)
Tier C -- 22 out of 25 slips
(boats up to 60 ft.)
Tier D – 62 out of 73 slips
(boats up to 45 ft.)
GBYC Projected Dockage Revenue
Grand Bahama Yacht Club is comprised of 123 slips of which 19 have been sold under a 99 year lease purchase, leaving an inventory of the 104 slips.
Our analysis is based on the 104 remaining slips totaling approximately 5,800 LF.
The following represents conservative assumptions on occupancy and pricing. Our dockage pricing is $1.00 to $1.50. Our analysis shows 80%, 60%,
and 50% occupancies.