cbc - offering memorandum (p)...570 memorial circle, suite 300, ormond beach, florida 32174...

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NET LEASEINVESTMENTOPPORTUNITY$3,900,000

202 Relocation Rd.Edgewater, FL 32141

AVAILABLE SPACE44,800 SF

FEATURES• Credit tenant Boston Whaler and Magic Tilt Trailer occupy building

• Leases through 12/31/2024

• Stong boat manufacturing influence in area

• within Cape Canaveral Spaceport Technology Triangle

• 6.74% CAP

AREAProperty is located directly accross the street from Boston Whaler Boat Co.Headquarters and Manufacturing Facility. Edgewater is also home toEdgewater Boats Manufacturing facility as well as Everglades Boats. Inaddition to the thriving boat manufacturing industry, Edgewater is just 40minutes from the Cape Canaveral Spaceport. Edgewater is well positionedfor industrial growth as the private space industry grows.

OFFICE

Robert Rand, [email protected]

©2019 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Benchmark. All rightsreserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered servicemarks owned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba ColdwellBanker Commercial Affiliates fully supports the principles of the Fair Housing Act and the EqualOpportunity Act. Each office is independently owned and operated. The information provided isdeemed reliable, but it is not guaranteed to be accurate or complete, and it should not be relied uponas such. This information should be independently verified before any person enters into a transactionbased upon it.

COLDWELL BANKER COMMERCIALBENCHMARK570 Memorial Circle, Suite 300, Ormond Beach, Florida 32174386.672.8530

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202 Relocation Rd. , Edgewater, FL 32141

NET LEASE INVESTMENT OPPORTUNITY

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Robert Rand, [email protected] BENCHMARK

CONFIDENTIALITY AGREEMENT

This offering has been prepared solely for informational purposes. It is designed to assist a potentialinvestor in determining whether it wishes to proceed with an in-depth investigation of the subjectproperty. While the information contained herein is from sources deemed reliable, it has not beenindependently verified by the Coldwell Banker Commercial affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptionsconsidered reasonable under the circumstances. No representations or warranties, expressed orimplied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subjectto modification or withdrawal. The contents herein are confidential and are not to be reproducedwithout the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALLFAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/orafter contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspectand investigate the Property and all improvements thereon, either independently or through agents ofthe buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, toreject all offers, and to accept any offer without regard to the relative price and terms of any other offer.Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated ina formal written contract of purchase and sale to be prepared by the Seller and executed by bothparties; and (iii) approved by Seller and such other parties who may have an interest in the Property.Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase andsale, which contract shall supersede prior discussions and writings and shall constitute the soleagreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property andall other expenses, professional or otherwise, incurred by them.

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04 PROPERTY INFORMATION

Property Overview

Property Description

Complete Highlights

Additional Photos

09 LOCATION INFORMATION

Regional Map

Location Maps

Aerial Maps

Site Plan

14 FINANCIAL ANALYSIS

Financial Summary

Income & Expenses

Rent Roll

Demographics Map &Report

19 ADVISOR BIOS

Advisor Bio 1

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PROPERTYINFORMATIONSECTION 1

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OFFERING SUMMARY

Sale Price: $3,900,000

Cap Rate: 6.74%

NOI: $262,786

Lot Size: 6.2 Acres

Year Built: 2008

Building Size: 44,800 SF

Market: Orlando

Submarket: Daytona Beach

Price / SF: $87.05

PROPERTY OVERVIEW

Boston Whaler and Magic Tilt Trailers occupy this 44,800 SF Light Industrial/Office Building. Property is located adjacent to the Boston Whaler Headquartersand boat manufacturing facility in Edgewater, FL. As a critical part of the BostonWhaler supply chain, Magic Tilt Trailers assembles and provides boat trailers forBoston Whaler. Building was designed as a multi-tenant industrial property andbuilt in 2008 with two-16,000 sf bays and one- 12,800 sf bay. Boston Whalerrecently completed an extensive office build out of the 12,800 sf. unit. Magic TiltTrailer operates out of the remaining 32,000 SF. Site is 6.32 acres. Leases for bothtenants extend through 12/31/2024.

PROPERTY HIGHLIGHTS

• Credit tenant Boston Whaler and Magic Tilt Trailer occupy building




• 6.74% CAP

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LOCATION DESCRIPTION

Property is located directly accross the street from Boston WhalerBoat Co. Headquarters and Manufacturing Facility. Edgewater isalso home to Edgewater Boats Manufacturing facility as well asEverglades Boats. In addition to the thriving boat manufacturingindustry, Edgewater is just 40 minutes from the Cape CanaveralSpaceport. Edgewater is well positioned for industrial growth asthe private space industry grows.

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LOCATION INFORMATION

Building Name Net Lease InvestmentOpportunity

Street Address 202 Relocation Rd.

City, State, Zip Edgewater, FL 32141

County Volusia

Market Orlando

Sub-market Daytona Beach

Cross-Streets US 1 and Relocation Ct.

Signal Intersection No

BUILDING INFORMATION

NOI $262,786.92

Cap Rate 6.74

Occupancy % 100.0%

Tenancy Multiple

Number Of Cranes 1

Ceiling Height 24 ft

Minimum Ceiling Height 24 ft

Office Space 18,584 SF

Number Of Floors 1

Year Built 2008

Free Standing No

PROPERTY HIGHLIGHTS

• Credit tenant Boston Whaler and Magic Tilt Trailer occupybuilding




• 6.74% CAP

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LOCATIONINFORMATIONSECTION 2

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Edgewater, FL

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FINANCIALANALYSISSECTION 3

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INVESTMENT OVERVIEW

Price $3,900,000

Price per SF $87.05

CAP Rate 6.7%

Cash-on-Cash Return (yr 1) 6.74 %

Total Return (yr 1) $262,786

Debt Coverage Ratio -

OPERATING DATA

Gross Scheduled Income $301,879

Other Income -

Total Scheduled Income $301,879

Vacancy Cost $0

Gross Income $301,879

Operating Expenses $39,093

Net Operating Income $262,786

Pre-Tax Cash Flow $262,786

FINANCING DATA

Down Payment $3,900,000

Loan Amount -

Debt Service -

Debt Service Monthly -

Principal Reduction (yr 1) -

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INCOME SUMMARY

Gross Income $301,879

EXPENSE SUMMARY

Insurance $5,958

Taxes $31,635

Repair And Maint $1,500

Gross Expenses $39,093

Net Operating Income $262,786

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TENANT

NAME

UNIT

NUMBER

UNIT

SIZE (SF)

LEASE

START

LEASE

END

ANNUAL

RENT

% OF

BUILDING

PRICE

PER SF/YR

Boston Whaler Suite 1 12,800 2008 2024 $87,680 28.57 $6.85

Magic Tilt Trailers Suite 2 & 3 32,000 2018 2024 $219,200 71.43 $6.85

Totals/Averages 44,800 $306,880 $6.85

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POPULATION 1 MILE 5 MILES 10 MILES

Total population 982 27,224 58,866

Median age 49.5 47.9 49.6

Median age (Male) 48.7 47.1 48.9

Median age (Female) 49.8 48.3 49.7

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 399 11,299 25,693

# of persons per HH 2.5 2.4 2.3

Average HH income $57,294 $55,077 $56,948

Average house value $186,502 $182,524 $203,733

* Demographic data derived from 2010 US Census

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ADVISOR BIOSSECTION 4

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FL #SL3128649

ROBERT RAND, CCIM

Principal, Vice President, Commercial Investment Properties

[email protected]: 386.672.8530 | Cell: 386.295.9827

PROFESSIONAL BACKGROUND

Bob Rand, CCIM, is a commercial real estate professional with experience in a multitude of commercial real estate disciplines andprides himself in a long list of satisfied clients. Vacant land, retail and industrial investment properties, and tenant representation haveall been staples in his business. From 2009 through 2013, Bob led a team of professionals assisting banks in managing and selling theircommercial REO properties. Working on CBC's Special Assets Team, Bob brokered assets for over ten different lenders, including Bankof America, Wells Fargo, SunTrust, Regions, Fifth Third, and several local community banks. These sales totaled over 125 transactions,with a sales volume of over $50MM. Bob has brokered assets in all property classes, including land, retail, office, warehousing,multi-family, hospitality, and even chattel property. Bob's CCIM designation represents the completion of advanced coursework infinancial and market analysis and demonstrated extensive experience in the commercial real estate industry. CCIM designees arerecognized as leading experts in commercial investment real estate. Bob became a partner in CBC Benchmark in 2017. Bob is a pastrecipient of the "Business Person of the Year" Award awarded by the Port Orange – South Daytona Chamber in recognition of"outstanding leadership and service to the community". Prior to his time in commercial real estate, Bob was a long standing multi-unitfranchisee for one of the largest fast-food franchises in the country. Bob has resided in the Greater Daytona Beach Area for over 40years. Bob is married to his wife Teresa and they have five adult children and five beautiful grandchildren. In his free time, he enjoysfamily and is an avid golfer .

EDUCATION

B.S. Accounting, Florida State University

MEMBERSHIPS

Board Member, Daytona Regional Chamber of CommerceBoard Member, Central Florida Commercial Association of Realtors (CFCAR)International Council of Shopping Centers (ICSC)City of Daytona Beach Economic Development Advisory BoardTeam Volusia (TVEDC)Port Orange - South Daytona ChamberFlorida Chapter of CCIM

BENCHMARK570 Memorial Circle Suite 300Ormond Beach, Florida 32174

386.672.8530

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cbc - offering memorandum (p)...570 memorial circle, suite 300, ormond beach, florida 32174...

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