PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
OFFERING MEMORANDUM
•Townhome Development Site
•Site Plan Approved
•Great East Boca Raton Location
•16 Townhomes
•Three Single Family Lots
•Excellent Access to I-95
•List Price: $2,275,000
Yamato Villas Townhome Site
Yamato Road East of I-95
Boca Raton, Florida 33431
OFFERING MEMORANDUM
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
OFFERING MEMORANDUM
YAMATO LAKES TOWNHOME DEVELOPMENT SITE EXECUTIVE
PHOTOS
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
OFFERING MEMORANDUM
CONFIDENTIALITY AND DISCLAIMER
This is a confidential Offering Memorandum, which is intended solely for your limited use and benefit in
determining whether you desire to express any further interest in acquiring Yamato Villas Development Site,
Yamato Road, Boca Raton, Florida 33431, (the “Property”). You are bound by the Confidentiality
Agreement executed in connection with your receipt of this Offering Memorandum.
This Offering Memorandum was prepared by Douglas Elliman Commercial Florida, a Florida limited liability
Company broker. It contains selected information pertaining to the Property and does not purport to be all-
inclusive or to contain all of the information, which prospective investors may desire. It should be noted that
all or any of the market analysis projections are provided for general reference purposes and are based on
assumptions relating to the general economy, competition and other factors beyond our control and,
therefore, are subject to material variation.
Additional information and an opportunity to inspect material related to the Property will be made available
to interested and qualified prospective capital sources. Neither the Owner, Broker, nor any of their respective
officers have made any representation or warranty, expressed or implied, as to the accuracy or
completeness of this Offering Memorandum or any of its contents, and no legal commitments or obligations
shall arise by reason of this Offering Memorandum or its contents.
It is essential that all parties to real estate transactions be aware of the health, liability and economic
impact of environmental factors on real estate. Broker does not conduct investigations or analyses of
environmental matters and, accordingly, urges interested parties to retain qualified environmental
professionals to determine whether hazardous or toxic wastes or substances (such as asbestos, pcbs,
other contaminants or petrochemical products stored in underground tanks) or other undesirable materials
or conditions are present at the Property, and if so, whether any health danger or other liability exists.
Various laws and regulations have been enacted at the federal, state and local levels dealing with the use,
storage, handling, removal, transport and disposal of toxic or hazardous wastes and substances.
Depending on past, current and proposed uses of the Property, it may be prudent to retain an
environmental expert to conduct a site investigation and/or building inspection. If such substances exist or
are contemplated to be used at the Property, special governmental approvals or permits may be required.
Consequently, legal counsel and technical experts should be consulted where these substances are or
may be present. In this Offering Memorandum, certain documents are described in summary form. The
summaries do not purport to be complete descriptions of the full agreements involved, nor do they purport
to constitute any legal analysis of the provisions of the documents. This brochure shall not be deemed an
indication of the state of affairs of the Owner nor constitute an indication that there has been no change in
the business or affairs of the Owner since the date of preparation of this Offering Memorandum. Duplication
of the Offering Memorandum in part or whole without expressed written consent of Broker is not authorized.
CONFIDENTIALITY AND DISCLAIMER
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
OFFERING MEMORANDUM
Location – Yamato Villas Townhome Development Site, Boca Raton, Florida 33487
PROPERTY ADDRESS Yamato Road & NW 3rd Avenue
Boca Raton, Florida 33431
LOCATION A
BUILDING TYPE 16 Proposed Townhomes & 3 Lots
LAND SIZE 1.75 +/- Acres
TOWNHOME SIZE 2,200 +/- Square Feet
SITE PLAN APPROVED
CONSTRUCTION To Be Built
PARKING Two Parking Spots w/ Garage
ELECTRICITY FPL
WATER CITY OF BOCA
SEWER CITY OF BOCA
SALE PRICE
LAND COST
PER UNIT
$2,275,000
$119,737
ZONING CITY ZONING
TAX ID: # 06434708010030020
LOCATION A
SUMMARY
Yamato Villas Townhome Development Site on Yamato Road is a 1.75+/-Acre Townhome Developm ent Site with Site Plan
Approval for 16 Townhomes and Three Single Family Homes in east Boca Raton, Florida. This L-shaped parcel is
located east of I -95 on the heavi ly traff icked Yamato Road which is a major east/ west artery with over 52,000 trips daily.
The property provides excellent access to I-95 for travel north and south and is located minutes from the ocean.
Location, Location, Location: This property is situated in a premier east Boca Raton location. With close proximity to I-95, it is located
minutes from the Boca Raton Airport, Florida Atlantic University, Boca Raton Regional Hospital and one-half hour north of the Fort
Lauderdale-Hollywood International Airport, Port Everglades and one-half hour south of Palm Beach International Airport . This
property provides an excellent opportunity for a developer to acquire well located townhome development land with site plan approval in a
highly desirable upscale market with strong demographics, A rated Public School system as well as several highly rated private schools and barriers to entry as there is minimal land for new development. New Townhomes at Moderne in Boca which is located approximately
four miles southwest started in the mid $500,000s and have sold up to $900,000 per unit.
The property is being offered at only $2,275,000.
PROPERTY OVERVIEW
EXECUTIVE SUMMARY
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
MARKET OVERVIEW
OFFERING MEMORANDUM
MARKET OVERVIEW
BOCA RATON Boca Raton is a City situated in Southeast Palm Beach County, Florida that was incorporated in May, 1925, and is known for its golf courses, parks and beaches. Boca Raton spans 31.34 miles with a population of 100,000 residents who are served by their own Police and Fire Departments, as well as Boca Raton Regional Hospital and West Boca Medical Center, two major hospitals. It is part of the Miami-Fort Lauderdale-Palm Beach Metropolitan Statistical Area which is home to over 5,600,000 people. Boca Raton is bounded by Deerfield Beach & Fort Lauderdale to the South, Parkland to the West, Delray Beach & West Palm Beach to the North and the Atlantic Ocean to the East. Listed on early maps as “Boca Ratones” many people assume the name is simply translated to “Rat’s Mouth”. The Spanish word boca or mouth was often used to describe an inlet, while raton which means mouse, was used by Spanish sailors to describe rocks that gnawed at a ship’s cable, or as a term for a cowardly thief. The City's early history was at the site of Addison Mizner's Boca Raton Hotel. The "pink hotel" today is visible from miles away as a towering building on the Intracoastal Waterway. Japanese farmers of the Yamato Colony converted the land west of the city into pineapple plantations beginning in 1904. During World War II much of their land was confiscated and used as the site of the Boca Raton Army Air Force Base, a major training facility for B-29 bomber crews as well as a radar school and research facility. Much of the airbase was later donated to become the grounds of Florida Atlantic University. Many of the parking lots are former runways of the airbase, while part of the airbase is now used as Boca Raton Airport. The Japanese heritage of the Yamato Colony survives in the name of Yamato Road (NW 51st Street) just north of the airport and also in the Morikami Museum and Japanese Gardens in nearby Delray Beach. In 1991, the new downtown outdoor shopping center, Mizner Park, was completed over the site of the older Boca Raton Mall. It has since become a cultural center for the City with the Boca Raton Museum of Art and an outdoor Amphitheatre. Featuring a landscaped central park between the two main roads (collectively called Plaza Real) with stores, restaurants and apartments only on the outside of the roads, Mizner Park resembles a Mediterranean suburban "town center" with a more contemporary look.
Boca Raton is home to the main campus of Florida Atlantic University which now has a Medical School and a Nursing School, as well as the corporate headquarters of Office Depot, ADT, Lynn University, Cancer Treatment Centers of America, Bluegreen Corporation, and the Gift of Life Marrow Registry. It is also home to the Evert Tennis Academy, owned by former professional tennis player Chris Evert. Town Center Mall at Boca Raton, an upscale shopping center in Central Boca Raton, is the largest indoor mall in Palm Beach County. Town Center Mall became the geographic center of what is referred to as Boca Raton, though it was not annexed into the city until 2004.
Boca Raton – “A City For All Seasons!”
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
OFFERING MEMORANDUM
MARKET OVERVIEW
YAMATO VILLAS TOWNHOME DEVELOPMENT SITE
EXECUTIVE SUMMARY
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
OFFERING MEMORANDUM
MARKET OVERVIEW
YAMATO VILLAS TOWNHOME DEVELOPMENT SITE
AERIAL VIEW
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
OFFERING MEMORANDUM
Gumbo Limbo Nature Center 2 miles
Sawgrass Mills Mall 22 miles
South County Regional Park 10 miles
Area Amenities & Transportation CoStar’s Daytime Employment
• Boca Raton Airport• Florida Atlantic University• Boca Raton Regional Hospital• West Boca Medical Center
Florida Atlantic University
Patch Reef Park
Sugar Sand Park
Morikami Museum & Gardens
Spanish River Park
Boca Raton Museum
Mizner Park
BB&T Center
Broward Center for the Performing Arts
1 mile
3 miles
4 miles
3 miles
2 miles
4 miles
1 miles
22 miles
20 miles
Yamato Villas Townhome Development Site
AREA HIGHLIGHTS
Within a five mile radius of the Yamato Villas Townhome Site
CoStar reports as follows:
Business Employment Type
• Boca Raton Resort & Club Professional & Management 59,672 32.58% • Red Reef Park & Sugar Sand Park Sales 26,833 14.65% • Town Center Mall at Boca Raton Education & Health 20,833 11.37%
• Gumbo Lindo Nature Center Services 19,464 10.63%
Retail 12,868 7.02%
Distance from Yamato Road & NW 3rd Boca Raton Real Estate & Finance 11,249 6.14%
Boca Raton Airport 1 mile
Fort Lauderdale-Hollywood International Airport 23 miles
Miami International Airport 43 miles
Port Everglades 2 1 miles
Boca Raton Regional Hospital 2 miles
West Boca Medical Center 7 miles
Red Reef Park 4 miles
Town Center at Boca Raton 2 miles
REGIONAL VIEW
HIGHLIGHTS & DEMOGRAPHICS
FINANCIAL HIGHLIGHTS:
• SALE PRICE $2,275,000• LAND COST PER UNIT $119,737
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
OFFERING MEMORANDUM
MARKET OVERVIEW
FLORIDA ATLANTIC UNIVERSITY
Florida Atlantic University (FAU) was founded in 1961 in Boca Raton on an 850-acre site. The campus is conveniently located just east of I-95 and halfway between Palm Beach and Fort Lauderdale and minutes from the Atlantic Ocean. Ten distinguished colleges offer more than 170+ degree programs in fields that span the arts and humanities, the sciences, medicine, nursing, accounting, business, education, public administration, social work, architecture, engineering, computer science and more. Academically accomplished students take advantage of honors programs on the Boca Raton campus and the complete, four-year honors curriculum offered by the Harriet L. Wilkes Honors College on the Jupiter campus.FAU’s Charles E. Schmidt College of Medicine was launched in 2010 and matriculates 64 medical students each year and has been nationally recognized for its innovative curriculum. As a community-based medical school, the college's humanistic, high touch, high tech curriculum, coupled with its partnership with three independent health systems in Palm Beach County, offers students and patients a unique experience.FAU’s Christine E. Lynn College of Nursing, is internationally known for its commitment to nursing as a discipline focused on nurturing the wholeness of persons and environment through Caring. The College of Nursing is dedicated to advancing the science, studying the meaning, practicing the art, and living Caring day-to-day. The College vision is a world in which health and wellbeing are transformed locally, nationally and globally through nursing grounded in Caring.The FAU Owls are the athletics teams and they participate in the National Collegiate Athletic Association's (NCAA) Division I as members of Conference USA. In addition to the current football head coach Lane Kiffin, FAU has attracted high-profile coaches in the past for various sports, including Howard Schnellenberger for football and Mike Jarvis for basketball. As of March, 2018, the Owls are led by athletic director Brian White. FAU Stadium is a college football stadium located at the north end of the main campus. It opened in 2011 and it is home to the Florida Atlantic Owls football team and the site of the national Cheribundi Boca Raton Bowl game broadcast on ESPN.
MARKET OVERVIEW
PRESENTED BY: ALAN KAYE [email protected]
OFFERING MEMORANDUM
MARKET OVERVIEW
BOCA RATON AIRPORT
MARKET OVERVIEW
Boca Raton Airport (BCT) is a premier Southeast Florida aviation facility located in Boca Raton, Florida. Situated just east of I-95, midway between West Palm Beach and Fort Lauderdale, the Airport’s convenient location is minutes from business centers, the arts, shopping and beaches. Totaling over $500,000,000 in total business sales, there is also a US Customs and Border Protection Facility within the Airport that opened on May 18, 2018 which has served 7,136 passengers.
Boca Raton Airport encompasses 214 acres between Spanish River Boulevard and Glades Road. The Airport’s runway 5/23 is 6,276 feet long and 150 feet wide, with a full-length 40-foot wide parallel taxiway. There is an FAA Contract Tower on the field which is open from 7:00 AM through 11:00 PM. Two fixed base operators (FBOs) and two aircraft repair maintenance shops are located at the airport.
The Airport averages over 60,000 operations annually, including private aviation, corporate travel, and air taxi operations. Including single engine, multi engine and helicopters, nearly 300 aircraft are based at the airport.
PRESENTED BY: ALAN KAYE [email protected]
OFFERING MEMORANDUM
MARKET OVERVIEW
FORT LAUDERDALE-HOLLYWOOD INTERNATIONAL AIRPORT
Fort Lauderdale–Hollywood International Airport (FLL), located in Fort
Lauderdale, 3 miles from downtown. The airport is near cruise line terminals
at Port Everglades and is popular among tourists bound for the Caribbean.
Since the late 1990s, FLL has become an intercontinental gateway.
It is the largest base for Spirit Airlines, catering mainly to the airline's
international to domestic network, and is a focus city for Allegiant Air, JetBlue
Airways, Norwegian Long Haul and Southwest Airlines. Airports Council
International data for the 12 months ending November 2015 listed FLL as the
4th fastest growing airport with total traffic up 9.4 percent (behind Seattle,
Washington Reagan, and Chicago O’Hare, respectively).
In 2016, passenger traffic, FLL ranked 21st in the U.S. with a total passenger
traffic of 29,205,002 up 9.2 percent over 2015. Domestic traffic was up 8.4
percent and international traffic increased by 10.1 percent.
Source: ISG - Miami Report
HOLLYWOOD
INTERNATIONAL
AIRPORT
$2.3 BILLION IN RENOVATIONS
Source: Capa - Centre for Aviation
ANNUAL INTERNATIONAL PASSENGER GROWTH 18% from
2012
Source: Capa - Centre for Aviation
Terminal 4 Redevelopment
and Expansion $450MIL West 2015 / East 2017
In-Line Baggage System $100MIL Terminal 1 & 2 Complete
Terminal Concourse A $150MIL Early 2017
Terminal Renovation Program $300MIL Early 2017 for Terminals 1,2 & 3
Noise Mitigation Program $175MIL Ongoing
In-Progress Projects $334MIL Ongoing
MARKET OVERVIEW
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
OFFERING MEMORANDUM
MARKET OVERVIEW
PORT EVERGLADES
Port Everglades is Florida’s “powerhouse port” and one of the most
diverse seaports in the United States. It has been one of the top three
cruise ports in the world accommodating 3.8 million passengers, is one
of the most active containerized cargo ports in the United States and
South Florida’s main seaport for petroleum products such as gasoline and
jet fuel.
This Port is a self-supporting Enterprise Fund of Broward County
Government with operating revenues of approximately $162.6 million in
Fiscal Year 2016. The port does not rely on local taxes for operations.
The total value of economic activity at Port Everglades is more than $30
billion. Over 224,000 Florida jobs are impacted by the Port, including
over 13,000 employees who work for companies that provide direct
services to Port Everglades.
The Port surpassed the world record for single-day passengers for the
second time in a row. In mid-March 2016, it was more than 54,700 cruise
passengers, up from 53,485 passengers in December when the Port
broke the previous record. In 2016, Port Everglades had more than 3.8
million cruise passengers.
MARKET OVERVIEW
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
MARKET OVERVIEW
OFFERING MEMORANDUM
MARKET OVERVIEW
VIRGIN TRAINS USA A MODERN RAILWAY Virgin Trains USA is the new name for All Aboard Florida's Brightline as of April, 2019 when it was purchased by Richard Branson. Brightline launched its new passenger private train service between West Palm Beach and Fort Lauderdale on Saturday, January 13, 2018, with plans to extend to Miami later in 2018 and to include service to Orlando in 2020. One-way trips between West Palm Beach and Fort Lauderdale are expected to take 35 minutes. Brightline trains travel at speeds of up to 79 mph.The Fort Lauderdale station is located at 101 N.W. 2nd Ave., and the 60,000 SF
station and platform includes a modern, multistory lobby with an elevated
passenger lounge for travelers, and parking facilities. The station is north of
Broward Boulevard and east of Interstate 95 and is two blocks from the city’s Sun
Trolley system which shuttles people to downtown destinations, area beaches and
the Fort Lauderdale-Hollywood International Airport. Broward County’s bus
system also has a stop near the station. The West Palm Beach station is located
at 260 Quadrille Plaza Drive, which is just north of City Place and west of
Quadrille Blvd.Source:
All Abord
PRESENTED BY: ALAN KAYE 954-558-8058 [email protected]
CONTACT
OFFERING MEMORANDUM
Contact
ALAN KAYE
Douglas Elliman Commercial
954-558-8058
444 E. Palmetto Park Road, Boca Raton Florida 33432
PROPERTY INSPECTION
Prospective purchasers will be given an opportunity to visit
and inspect the property at their convenience by scheduling an
appointment with ALAN KAYE of DOUGLAS ELLIMAN
COMMERCIAL.