dash design and architecture school appraisal report - dash… · dash design and architecture...

DASH DESIGN AND ARCHITECTURE SCHOOL4001 NE 2nd Ave, Miami, FL 33137

PrePared By: Blazejack & comPanyAPPRAISAL

Owner: Miami-Dade County Public Schools1450 NE 2nd Ave, Miami, FL 33132(305) 995-1000

APPRAISAL OF REAL PROPERTY

DASH Redevelopment Scenarios - Excess Land 4005 NE 2nd Avenue

Miami, FL 33137

201548

PREPARED FOR

Mr. Jose Murguido Zyscovich Architects

100 Biscayne Boulevard Miami, FL 33132

Phone: 305-372-5222 Email: [email protected]

PREPARED BY

BLAZEJACK & COMPANY 172 W Flagler Street, Suite 340

Miami, Florida 33130 Phone: (305) 372-0211

Fax: (305) 374-1948

BLAZEJACK & COMPANY REAL ESTATE COUNSELORS

________________________________________________________________________

172 West Flagler St., Ste. 340, Miami, FL 33130 Phone (305) 372-0211 Fax (305) 374-1948 www.BLAZEJACK.COM

November 24, 2015 Mr. Jose Murguido Zyscovich Architects 100 Biscayne Boulevard Miami, FL 33132 Phone: 305-372-5222 Email: Client_Email Re: Appraisal of Real Property - 201548 DASH Redevelopment Scenarios - Excess Land 4005 NE 2nd Avenue Miami, FL 33137 Dear Mr. Murguido: At your request, we have completed an appraisal in a summary report format of the Fee Simple Interest in the above referenced real property. The appraisal states our opinion of the property’s Market Value as is, subject to various Assumptions and Limiting Conditions set forth in the accompanying report. The physical inspection and analysis that form the basis of the report have been conducted by the undersigned. Our analyses have been prepared in compliance with the standards and regulations of the Uniform Standards of Professional Practice (USPAP). The accompanying report includes pertinent data secured in our investigation, exhibits and the details of the processes used to arrive at our conclusion of value. As a result of the examination and study made, it is our opinion that the Market Value of the Fee Simple in the subject property, subject to economic conditions prevailing at August 6, 2015, the date of appraisal is:

Under Option 2: FORTY MILLION SEVEN HUNDRED THOUSAND DOLLARS

($40,700,000) Under Option 3.1:

THIRTY NINE MILLION NINE HUNDRED THOUSAND DOLLARS ($39,900,000).

Respectfully submitted,

BLAZEJACK & COMPANY

Thomas J. Blazejack, MAI, AI-GRS, CCIM President Cert Gen RZ-1015

201548 DASH - REDEVELOPMENT

BLAZEJACK & COMPANY

SUMMARY OF FACTS AND CONCLUSIONS

Option 2 Option 3.1

Property Name: DASH Redevelopment Scenarios - Excess Land Property Type: Vacant Commercial Land Location: 4005 NE 2nd Avenue Miami FL 33137 Census Tract: 12086002201 Interest Appraised: Fee simple Date of Appraisal: August 6, 2015 Dates of Inspection: August 6, 2015 Date of Report: November 24, 2015 Zoning: CI, Civic and Institutional by Miami-Dade County Property Size: 73,121 SF or 1.68 acres according to the Miami-Dade

Property Appraiser Highest and Best Use: As Vacant: Mixed use development Real Estate Taxes (2015 – Parent Tract) 2015 Millage Rate: not yet finalized


BLAZEJACK & COMPANY

Summary of Important Facts and Conclusions (continued) Land Assessment: $2,486,114 Building Assessment: $1,566,162 2015 Total Assessment: $4,052,276 2015 Taxes: None

Value Indications, as of August 6, 2015: Final Value Estimates: Option 2: $40,700,000 Option 3.1: $39,900,000 Estimated Marketing Time: 12 months

Extraordinary Assumption: The value opinions expressed herein are contingent on the extraordinary assumption that the existing school facility has been demolished and removed and the land has been successfully subdivided according to the Option scenarios analyzed (No. 2 and No. 3.1).


BLAZEJACK & COMPANY 1

TABLE OF CONTENTS CERTIFICATE OF VALUE i

ASSUMPTIONS AND LIMITING CONDITIONS ii

SECTION I INTRODUCTION 1

IDENTIFICATION OF THE PROPERTY .................................................................................................. 2 INTEREST APPRAISED, AND DATE OF THE APPRAISAL ................................................................. 2 INTENDED USE AND INTENDER USER OF THE APPRAISAL .......................................................... 2 APPRAISAL PROBLEM ............................................................................................................................. 2 SCOPE OF THE APPRAISAL .................................................................................................................... 4 CURRENT FINANCING ............................................................................................................................. 5 HISTORY OF THE SUBJECT..................................................................................................................... 5 DEFINITIONS OF VALUE AND INTEREST APPRAISED ..................................................................... 5 LEGAL DESCRIPTION .............................................................................................................................. 6 EXPOSURE TIME AND MARKETING PERIOD ..................................................................................... 6 REGIONAL ANALYSIS ............................................................................................................................. 6 NEIGHBORHOOD ANALYSIS .................................................................................................................. 6 SITE DESCRIPTION ................................................................................................................................. 21 REAL PROPERTY TAXES AND ASSESSMENTS................................................................................. 23 ZONING ..................................................................................................................................................... 24 HIGHEST AND BEST USE ...................................................................................................................... 26

SECTION III VALUATION PROCESS 29

VALUATION PROCESS ........................................................................................................................... 30 LAND VALUATION ................................................................................................................................. 31

ADDENDA a. Photographs b. Demographic Reports c. Land Sales Details d. Area Listings e. Qualifications of the Appraiser


BLAZEJACK & COMPANY I

CERTIFICATE OF VALUE I certify that, to the best of my knowledge and belief,

the statements of fact contained in this report are true and correct.

the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions.

I have no present or prospective interest in the property that is the subject of this report, and no personal interest with respect to the parties involved.

I have not performed other services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment.

I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.

My engagement in this assignment was not contingent upon developing or reporting predetermined results.

My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of subsequent event directly related to the intended use of this appraisal.

My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.

Thomas J. Blazejack has made a personal inspection of the property that is the subject of this report.

No one provided significant real property appraisal assistance to the persons signing this certification.

The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute.

The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representative.

As the date of this report Thomas J. Blazejack has completed the continuing education program of the Appraisal Institute.

BLAZEJACK & COMPANY

Thomas J. Blazejack, MAI, AI-GRS, CCIM President Cert Gen RZ-1015


BLAZEJACK & COMPANY II

ASSUMPTIONS AND LIMITING CONDITIONS

The appraisal is subject to the following assumptions and limiting conditions:

1 No survey of the subject property was undertaken.

2 The subject property is free and clear of all liens except as herein described. No responsibility is assumed by the appraisers for matters, which are of a legal nature, nor is any opinion on the title rendered herewith. Good and marketable title is assumed.

3 The information contained herein has been gathered from sources deemed to be reliable. No responsibility can be taken by the appraisers for its accuracy. Correctness of estimates, opinions, dimensions, sketches and other exhibits which have been furnished and have been used in this report are not guaranteed. The value estimate rendered herein is considered reliable and valid only as of the date of the appraisal, due to rapid changes in the external factors that can significantly affect the property value.

4 This study is to be used in whole and not in part. No part of it shall be used in conjunction with any other appraisal. Publication of this report or any portion thereof without the written consent of the appraiser is not permitted.

5 The appraisers herein, by reason of this report, are not required to give testimony in court with reference to the property appraised unless notice and proper arrangements have been previously made therefore.

6 The value estimate assumes responsible ownership and competent management. The appraiser assumes no responsibility for any hidden or in apparent conditions of the property, subsoil, or structures, which would render it more or less valuable. No responsibility is assumed for engineering, which might be required to discover such factors.

7 Neither all nor any part of the contents of this report shall be conveyed to the public through advertising, public relations, news, sales or other media without the written consent and approval of the authors, particularly as to valuation conclusions, the identity of the appraisers or firm with which they are connected, or any reference to the Appraisal Institute.

8 Any exhibits in the report are intended to assist the reader in visualizing the property and its surroundings. The drawings are not intended as surveys and no responsibility is assumed for their cartographic accuracy. Any drawings are not intended to be exact in size, scale, or detail. Areas and dimensions of the property may or may not have been physically measured. If furnished by the principal or from plot plans or surveys furnished by the principal, or from public records, we assume them to be reasonably accurate. No responsibility is assumed for discrepancies, which may become evident from a licensed survey of the property.

9 The Americans with Disabilities Act (ADA) became effective January 26, 1992 sets strict and specific standards for handicapped access to and within most commercial and industrial buildings. Determination of compliance with these standards is beyond appraisal expertise and, therefore, has not been attempted by the appraisers. It is possible that a compliance survey of the property together with a detailed analysis of the requirements of the ADA could reveal that the property is not in compliance with one or more of the requirements of the act. If so, this fact could have a negative effect upon the value of the property. For purposes of this appraisal, we are assuming the building is in compliance; however, we recommend an architectural inspection of the building to determine compliance or requirements for compliance. We assume no responsibility for the cost of such determination and our appraisal is subject to revision if the building is not in compliance.


BLAZEJACK & COMPANY III

10 The value opinions expressed herein are contingent on the extraordinary assumption that the existing school facility has been demolished and removed and the land has been successfully subdivided according to the Option scenarios analyzed (No. 2 and No. 3.1).



SECTION I INTRODUCTION



IDENTIFICATION OF THE PROPERTY The appraised property consists of excess land to be created as a result of the proposed

redevelopment of the DASH School Site at 4005 NE 2nd Avenue. The parent tract is irregular and

fronts both NE 2nd Avenue and NE 39th Street. It is identified by parcel id number 01-3129-014-

0011.

INTEREST APPRAISED, AND DATE OF THE APPRAISAL The purpose of this appraisal is to estimate the market value of the Fee simple interest in the

subject property, under economic conditions prevailing on August 6, 2015, the date of the appraisal.

INTENDED USE AND INTENDER USER OF THE APPRAISAL It is understood that the function of this report is internal management by the client,

Zyscovich Architects, or their assigns. Anticipated users of the report include the client, their

consultants and the Miami-Dade County School Board, the owner of the property.

APPRAISAL PROBLEM The appraisal problem in this assignment was to estimate the market value of an excess

parcel of land to be created by the redevelopment of the DASH high school property. The School

Board would like to fund construction of a new DASH high school by selling an excess parcel

created by developing the new facility in a multi-floor tower rather than a single story facility.

Planners have identified two alternatives for the appraisers to consider.

The parent tract configuration is shown in the following aerial.



Option 2 is shown below. The excess portion to be appraised is shown in yellow. The new

school tower will be developed in the area in green.



Option 3.1 is presented below.

SCOPE OF THE APPRAISAL This is a complete appraisal presented in a narrative, summary format. USPAP define scope

of the work as the type and extent of research and analysis in an assignment.

As part of this appraisal, a number of independent investigations and analyses were

required. The scope of this analysis was to inspect the property, consider market characteristics and

trends, collect and analyze pertinent data, develop a conclusion and estimate the property's market

value.

The extent of verification consisted of assembling and analyzing raw data gathered from a

variety of sources including public records data services, news periodicals and in-house files.

Where possible, transactions were verified through discussions with buyers, sellers, brokers and

knowledgeable third parties. Set forth all assumptions and limiting conditions that affects the

analyses, opinions and conclusions.



CURRENT FINANCING

Maximum loan-to-value ratios are typically 70 to 80 percent, new projects must be 50 to 75

percent pre-leased. In general, lenders continue to be discriminating. Banks remain a source of

relatively low leverage financing for acquisitions of multi-tenant properties, and will also

underwrite deals for three- and five-year terms. Additionally, smaller, owner-user purchases are

often funded using SBA 7A and 504 loans.

Ten-year loans are available at rates in the mid-4 percent range, or roughly 250 basis points

to 300 basis points above the U.S. Treasury. Debt Service Ratio start at 1.25 times net operation

income, with repayment schedules of 25 years and LTVs of up to 70 percent available

HISTORY OF THE SUBJECT

The property has been owned by the Miami-Dade School Board for more than five years.

DEFINITIONS OF VALUE AND INTEREST APPRAISED

According to the Code of Federal Regulations, Title XI of the Financial Institutions Reform,

Recovery and Enforcement Act of 1989 (“FIRREA”), and according to the 12th Edition of The

Appraisal of Real Estate, market value is defined as follows:

Market Value The most probable price, which a property should bring in competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:

1 Buyer and seller are typically motivated. 2 Both parties are well informed or well advised, and acting in what they consider their own best interests; 3 A reasonable time is allowed for exposure on the open market. 4 Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable

thereto; and 5 The price represents a normal consideration for the property sold unaffected by special or creative

financing or sales concessions granted by anyone associated with the sale.

The interest under appraisal is the fee simple interest. It is defined in The Dictionary of Real

Estate Appraisal 5th edition (Chicago,2010)

Fee Simple Interest Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed governmental powers of taxation, eminent domain, police power, and escheat.



Leased Fee Interest An ownership interest held by a landlord with the right to use and occupancy conveyed by a lease to others; usually consists of the right to receive rent and the right to possession at termination of the lease.

Market Rent The rental income that a property would most probably command on the open market; indicated by current rents paid and asked for comparable space as of the date of the appraisal.

Source: American Institute of Real Estate Appraisers, The Dictionary of Real Estate Appraisal, 5th Edition, (Chicago,

2010)

LEGAL DESCRIPTION The lengthy legal descriptions taken from the acquisition deed are in the Addenda of this

report.

EXPOSURE TIME AND MARKETING PERIOD Exposure time is that time the property is assumed to have been on the market before the

sale assumed on the date of appraisal. It is our opinion that with a reasonable listing price and

aggressive marketing, the subject exposure time would be approximately 12 months.

Marketing time is that time, at any price, that the property would take to sell from the date of

appraisal forward, i.e., after the date of appraisal. The relationship between price and marketing

time is straightforward and normally, the lower the price, the less time to market.

REGIONAL ANALYSIS The subject property is located in Miami-Dade County. A complete area analysis is retained

in our files.

This analysis outlines the demographic trends, migration patterns, buying power, labor force

estimates, ousing trends, and transportation networks of the County. In general, the economy of

Miami-Dade County is stable and growing.

NEIGHBORHOOD ANALYSIS According to the Appraisal of Real Estate, 14th Edition, a neighborhood is a group of

complimentary land uses. Social, economic, governmental and environmental forces influence

property values in the vicinity of the subject property, which, in turn, directly affect the value of the

subject property itself. The area of influence is the area within which the forces affect all



surrounding properties in the same way. The boundaries of the neighborhood are drawn by

observing the extent to which the four forces affect all properties in the same way.

The subject is located in a neighborhood of commercial properties known as the Miami

Design District. The primary boundaries of this neighborhood include the Interstate 195 overpass to

the south, N.E. 42 Street to the north, North Miami Avenue to the west and Biscayne Boulevard

(U.S. Highway 1) to the east, all within the city of Miami. Some peripheral commercial properties

located between N.E. 36 Street and the I-195 overpass, and along N.E. 2nd Avenue for several

blocks north of N.E. 42 Street, are also substantially affected by activity in the Design District

whose location is approximately four miles north of the Miami Central Business District (CBD).

The Design District is a unique pocket of commercial properties that house art galleries,

home furnishing and design showrooms, retail stores, restaurants, and cultural attractions. This is a

unique “community of design” that was rejuvenated since the late 1990s in response to its historic

and urban context through the facilitation of master plan by renowned urban planners Andres Duany

and Elizabeth Plater-Zyberk.

The vast majority of commercial space within the Design District has traditionally catered to

creative businesses including interior design firms, art galleries and studios, media production firms,

and furniture retailers. The prime locations within this district include N.E. 39 Street and N.E. 40

Street between N.E. 1st and 2nd Avenues, and along N.E. 2nd Avenue between N.E. 38 and 42

Streets. Over the past 10 years, restaurants were opened in this district providing a night-time

entertainment element to the neighborhood that has increased its popularity. These currently

include Michael’s Genuine Food, Buena Vista Bistro, MC Kitchen, Mandolin, The Cypress Room

and Oak Tavern. The Design District is also home to the Design and Architecture Senior High

(DASH), a highly-regarded magnet high school that is part of the Miami-Dade County public

school system.

In 2014, the board of the Museum of Contemporary Art split with its landlord, the City of

North Miami, which resulted in the relocation of some of that museum’s collection to the Design

District. Housed in temporary quarters, this new entity, called the Institute of Contemporary Art

Miami (ICA Miami), plans to build a permanent home with 37,500 square feet along N.E. 41 Street

just east of the de la Cruz Collection. The de la Cruz Collection has been housed in its own 30,000-

square foot building at 23 N.E. 41 Street since 2009.



Although several luxury high-rise residential projects were planned for the Design District

during the early years of the past decade, the most-recent downturn in the housing market deterred

this residential development from moving forward. However, the adjacent Buena Vista residential

district of classic, 1920s through 1940s housing experienced a revival from 2002 through 2006, with

increasing gentrification and housing prices over that period. Buena Vista is generally located to the

north of the Design District, with some spillover effects from this recent gentrification occurring

across N.E. 2nd Avenue to the east.

Development of a new 195-unit rental apartment project broke ground in June 2015 at N.E.

36 Street and N.E. 1st Avenue just across Interstate 195 from the core of the Design District. It will

also include a 468-space parking garage and 66,741 square feet of retail and restaurant space. Other

upscale residential neighborhoods are located across Biscayne Boulevard to the east.

As a result, the Design District exhibits a mix of specialty retail and showroom properties

whose primary tenants include interior design and home furnishing stores and showrooms, along

with fashion apparel outlets, restaurants, cultural venues and some office space that caters to

creative businesses such as architectural and media firms. In order to track demand trends from this

potential base of tenants in the market, the appraisers consulted a mid-year 2013 presentation of

trends in retail properties called “What’s in Store for Retail” that was paneled by Faith Hope

Consolo of Prudential Douglas Elliman Real Estate, Richard Kinnard, CRE, of Walmart Stores, and

Aaron Renn of Telestrian, LLC. This study noted that while shopping has traditionally been

focused catering on local trends, more retail centers are re-marketing themselves as a shopping

“experience”. To that end, retailers are focusing on everything from national retailing trends all the

way down to local issues that will bring customers into their stores and buy their goods and services.



The analysis of marketability of retail space, and hence its ability to generate rent for a

landlord, is influenced by national and regional trends but also trickles down to micro-trends that

focus on individual retail and store locations within their individual market. For this reason, the

analysis of the subject’s retail, restaurant and showroom space, particularly within its targeted

specialty market of fashion apparel, interior design and home décor tenancies, must also focus on its

submarket as well as the position of the individual property and its retail spaces. These include an

analysis of whom the target market of store customers are, how customer traffic that generates

potential revenue to these tenants is driven to the property and its individual stores, and managing

that customer traffic in order to optimize tenants’ visibility and potential spending from their target

market.



The attraction and management of customer traffic flow to a property and its tenant spaces is

referred to as a property’s circulation. We have attempted in this market analysis to provide greater

focus on the submarket and micro-market trends that immediately affect the subject and its potential

circulation, since this also simulates the analysis that is increasingly undertaken by tenants when

analyzing potential retail, showroom and restaurant locations, particularly for specialty retailers such

as those found in the Miami Design District.

Situated to the immediate southwest of the subject neighborhood is the Shops at Midtown

Miami, a community retail center with approximately 600,000 square feet of retail space. Midtown

Miami was completed in 2006 on a former rail yard, located between the F.E.C. railroad tracks and

North Miami Avenue, and between N.E. 29 and 36 Streets. Anchors stores include Target, Ross

Dress for Less, Marshall’s, West Elm, Payless Shoes, Sports Authority, Home Goods, and

PetSmart. Approximately 3,000 residential units were also planned for the eastern and southern

portions of this 56-acre site. To date, however, just three of six residential high-rises have been

built. After condo demand plummeted after 2005 due to the downturn in the housing market, these



developers concentrated on leasing the units in these three residential towers. With a rebound in the

housing market that has occurred over the last three to four years, sales activity has returned to these

properties, with rising prices and falling unsold inventories. As inventory sold out at the existing

Midtown 2 and Midtown 4, Hyde Midtown was announced by the Related Group for the site

between these existing towers. This property will feature 400 condo units, 40 hotel suites, ground

floor retail space and a parking garage. Construction began on this property earlier in 2015.

Chicago’s Magellan Group has also recently begun development of its 400-unit Midtown 5 project,

which will also house 22,000 square feet of ground floor retail space in a 24-story apartment tower.

The economic downswing also affected retail space at the Shops at Midtown, which lost

anchor tenants Circuit City and Linens ‘N Things. However, these tenants were subsequently

replaced by Home Goods and Sports Authority. West Elm eventually reduced its Midtown store

space, which was subsequently filled by another furniture store (Antonini). Loehmann’s vacated its

Midtown space in early 2014, but was replaced this year by Nordstrom Rack. A restaurant row has

also formed in the Mid-Block area at the center of Midtown Miami, which includes Sugarcane Raw

Bar & Grill, Lime Fresh Mexican Grill, Bar Louie, Novecento and 100 Montaditos. A 203,000-

square foot Walmart was approved in November 2013 by the City of Miami for the south end of

Midtown, but has not yet begun construction as neighborhood activists fought its development in

the courts. Six acres of land along N.E. 29 Street and across the F.E.C. rail tracks to the east was

purchased for the expansion of Midtown Miami. AMLI plans 700 rental units on this site in a 12-

story building.

The success of design showrooms, art galleries and retailers in the Design District and

Midtown has had a spillover effect into neighboring Wynwood to the west and southwest.

Wynwood has emerged from an enclave of small garment warehouses within a working-class

neighborhood to one of the region’s biggest concentrations of art galleries and studios. Numerous

bars and restaurants have opened in Wynwood in recent years, creating an eclectic mix of galleries,

dining and entertainment venues, and making it arguably Miami’s “hippest” and most cutting-edge

neighborhood.

The success of art studios and galleries in these two districts has been enhanced by Art Basel

in Miami Beach, a five-day event that is held each December. This is the winter event of Art Basel,

the world’s most prestigious art show for the past 40 years, which attracts more than 50,000 visitors.



Art Basel in Miami Beach combines an international selection of top galleries with a program of

special exhibitions, parties and crossover events featuring music, film, architecture and design. This

event, which was first held in 2001, has been a “game-changer” for the cultural community in

Miami, which is increasingly centered in Wynwood and the Design District. This event attracts

more than 260 leading art galleries from across the globe, with works by over 2,000 artists of the

20th and 21st Centuries. The exhibiting galleries are among the world's most respected art dealers,

offering exceptional pieces by both renowned artists and cutting-edge newcomers. Although the

main Art Basel exhibitions are held in Miami Beach, significant events are also held in the Design

District, Wynwood and Midtown Miami, including street parties, special events and open houses at

galleries throughout these districts.

Art Basel in Miami Beach is now recognized as the most-prestigious art show in the

Western Hemisphere, with an economic impact of $500 million. A 2006 article in Fortune

magazine called Art Basel a “culture-driven Davos”. This art fair draws a sophisticated and highly-

affluent international crowd of visitors who attend the various fairs and events, visit the galleries in

the Design District and Wynwood, shop in the local stores and dine in the local restaurants.

Although the fair lasts only five days, it has created something called the “Basel Effect” by jump-

starting Miami’s art scene and helped transform the region’s image from a sun-&-fun capital to an

important cultural center for the visual arts in the Americas, both during the fair and year-round.

This has spawned more than 25 spin-off events and fairs in the region which are often centered in

these three neighborhoods, whose effect has encouraged more art- and design-focused businesses to

seek locations in these areas. Before Art Basel, there were less than 10 commercial art galleries in

Miami; now, this number is nearing 130, of which nearly half are located in Wynwood or the

Design District. These venues welcome visitors and local residents to these neighborhoods both

during the various art fairs but also throughout the year.

The most-recent trend in this neighborhood has been spearheaded by Dacra’s Craig Robins,

who owns more than 70% of the properties in the Design District. Robins is undertaking a large-

scale redevelopment of his properties in the Design District into an enclave of ultra-luxury

shopping, augmented by cafes and tree-shaded plazas. The primary targeted area lies between N.E.

38 and 42 Streets, along N.E. 1st Avenue and continuing to the east toward N.E. 2nd Avenue. It

includes more than 540,000 square feet of new construction and redevelopment in a 19-acre



redevelopment area, at a cost of $312 million. A pedestrian retail district has been created along a

north/south axis through these city blocks known as Paseo Ponti, with an open courtyard called

Palm Court at its south end (www.miamidesigndistrict.net/future/).

This redevelopment is part of a partnership with a Paris-based investment fund which is

backed by luxury giant Louis Vuitton Moet Hennessy, and is nearing completion. A comparison of

the progress of this redevelopment is shown in the following photographs. They show the same

view facing east along N.E. 39 Street from N.E. 1st Avenue, at the center of the new redevelopment

construction activity, at two different dates:

View in early February 2014 View on June 21, 2015

Already, almost new 40 stores have opened in the Design District in Dacra’s redevelopment

area of the Design District, including such luxury retailers as Louis Vuitton, Christian Louboutin,

Prada, Celine, Hermes, Cartier, Giorgio Armani, Burberry, Bvlgari, Rolex and Valentino. The new

Paseo Ponti has recently opened, anchored by its Palm Court at the south end, and additional retail

spaces have been completed along N.E. 39 Street between N.E. 1st and 2nd Avenues. Some

underground parking is also installed in new buildings just east of N.E. 1st Avenue, and the City

View Garage opened in April 2015 with 559 space along N.E. 1st Avenue at N.E. 38 Street. These

first two phases of redevelopment will eventually produce 70 new stores for the Design District.

Phase Three will include an expansion of this redevelopment to the north of N.E. 40 Street

and up to N.E. 42 Street. The Paseo Ponti will be continued northward through these existing

blocks. Once completed, Dacra’s redevelopment will total 1.2 million square feet with more than

120 luxury-brand shops and 15 to 20 restaurants, plus a boutique hotel and residential building

along N.E. 1st Avenue. Site work on this third phase of redevelopment began in 2015.

http://www.miamidesigndistrict.net/future/



For many years, ultra-luxury apparel and fashion retailers were limited to locations at Bal

Harbour Shops in Miami-Dade County, which has 450,000 square feet of retail space. This was

accomplished through non-compete clauses that restricted these tenants from opening other stores

within a 25-mile radius of Bal Harbour Shops. As a result, this ultra-luxury retail center has often

reported the highest sales of any shopping center in the world, at more than $2,500 per square foot

or more than six times the national average. Reductions in the number of these lease clauses over

the past decade, however, have allowed some of its luxury retailers to open in other locations in

Miami-Dade County, including the Village of Merrick Park in Coral Gables. Despite this new

competition, sales per square foot at Bal Harbour Shops have continued to increase in most years

since 2002, when the Village of Merrick Park opened. For the retail component at Brickell

CityCentre, which is under construction in the Brickell market of downtown Miami, its developer

has partnered with Sam Whitman, the owner of Bal Harbour Shops to incorporate up to 175,000

square feet of ultra-luxury fashion and boutique stores similar to those targeted by Craig Robins in

the Design District. Also, Mr. Whitman is planning a 250,000-square foot addition to Bal Harbour

Shops, with 40 new stores that would include a third anchor.

It remains to be seen whether ultra-luxury fashion and apparel boutiques can absorb all of

this additional space planned for the local market. A growing number of wealthy visitors are

arriving in Miami, including those from Latin America, Europe and/or attracted by Art Basel. In its

2015 Wealth Report, London-based real estate consultants Knight Frank ranked Miami as one of

top 10 cities worldwide in importance to Ultra-High Net-Worth Individuals; the only other city from

North America on that list was New York. In addition, the monopoly held by the owner of Bal

Harbour Shops may have created extensive pent-up demand for additional locations by these luxury

retailers in Miami-Dade County. This is evident from the impressive retail sales performance (on a

per-square-foot basis) that has historically occurred at Bal Harbour Shops. Nonetheless, there is

some risk that the market for retail space catering to ultra-luxury fashion and apparel boutiques may

become saturated in the near term.

Surrounding areas of the Design District will continue to feature interior furnishing and

design showrooms, which currently includes a roster of nearly 50 outlets including Adriana Hoyos,

Ann Sacks, Armani/Casa, Baltus, Bisazza, Design Within Reach, Holly Hunt, Fendi Casa, Janus et

Cie, Ligne Roset, Jonathan Adler, Luminaire, Monica James, Vitra, Pampanoli, Poliform USA,



Waterworks, Michael Dawkins, and Bobby Berk. These are luxury home furnishing and design

brands whose target market represents an upscale clientele. In the past, many of these interior

design showrooms catered to wholesale and trade professionals, and were not generally open to the

public. Recently, however, more and more of these design showrooms are open to the public during

normal business hours, thus seek ground floor locations with direct frontage to the street to attract

retail customers as well.

Long-range plans will include residential uses and a continued mix of restaurants and cafes

to create an entire lifestyle shopping destination (i.e., “experience”) within the Design District.

With most of its properties under the ownership of Craig Robins, coordination of this effort over the

long term is easier to accomplish. Altogether, this should enhance the circulation of visitors to the

Design District, which will maximize the exposure of its tenants to customers and allow for stronger

tenancy and higher rental rates. This favorable potential circulation can be seen through the maps of

the Design District on the following pages, showing its original redevelopment area and Dacra’s

most-recent map of the expansion of this redevelopment and its eventual result:



Miami Design District



Planned Post-Redevelopment Maps: Miami Design District

Sources: www.miamidesigndistrict.com



Various primary uses such as ultra-luxury fashion are centered along N.E. 40 Street between

N.E. 1st and 2nd Avenues, with expansion of these tenancies in the “Redevelopment Area”,

particularly along the new Paseo Ponti. As shown in the second map above, future expansion will

include areas on the blocks to the north between N.E. 40 and 42 Streets. Surrounding these areas

are buildings suited for interior design and furniture showrooms (in medium blue), with restaurants

(dark blue) and valet parking stands (black diamond locations) interspersed. Ten million dollars’

worth of public art is also being installed as part of this redevelopment.

An aerial rendering of the proposed redevelopment of the Design District, generally looking

toward the north/northwest, is shown below. N.E. 2nd Avenue is shown in blue in the right side of

the photo:

Major news regarding Design District properties and investments since the start of 2014 is

summarized below:

Thor Equities acquired Sam Herzberg’s portfolio of 32,000 square feet of commercial space in the Design District in early 2014, adding to its other holdings in the neighborhood that included the Nest and Balthus store properties. Another $15 million was spent by Thor Equities in October 2014 to acquire two additional buildings at 75 and 81 N.E. 39 Street for $15 million, and the office building at 3925 North Miami Avenue. In



March 2015, a small property at 56 N.E. 40 Street was acquired by Thor Equities to connect these properties on this city block.

RedSky Capital and JZ Capital have teamed up to acquire two adjacent properties along the north side of N.E. 40 Street east of North Miami Avenue for a total price of $57,250,000.

General Growth Properties and Ashkenazy Acquisition Corp. acquired a 20% stake in the Craig Robins’ redevelopment holdings in the Design District at a price reported at $280 million.

The planned Sweetbird hotel, with 50 rooms and 80 residential units planned for the corner of N.E. 40 Street and N.E. 1st Avenue, have been cancelled. However, a new plan for this site involving a mid- or high-rise residential element has been mentioned.

The former Power Studios space on N.E. 2nd Avenue just north of the I-195 overpass has been demolished in order to make way for a new retail and showroom property with approximately 20,000 square feet of space.

In July 2014, Helm Equities purchased a full city block with 1.9 acres at the northeastern boundary of the Design District for $12.5 million. This is a former Seventh Day Adventist Church property with a few residential structures located along N.E. 2nd Avenue between N.E. 42 and 43 Streets. Helm is seeking to re-zone this property to accommodate a mixed-use development including multi-level retail space, 80 residential units and a parking garage, effectively expanding the Design District an additional block to the northeast.

At N.E. 38 Street and N.E. 1st Avenue, the City View Garage opened in early 2015 providing 559 parking spaces in a market where parking availability has been an ongoing challenge for visitors to the Design District.

The Miami-Dade School Board has announced plans for a partial sale of its property housing the Design and Architecture Senior High (DASH) magnet school along N.E. 2nd Avenue. Redevelopment of this property would feature some ground level commercial space, taking advantage of its Design District location, along with a new vertical school structure for DASH.

Construction has begun on District 36, a 195-unit rental apartment tower with 66,741 square feet of retail space located along the north side of N.E. 36 Street at N.E. 1st Avenue.

Plans have been solidified for new boutique hotel development 297 guest rooms, a gallery and parking garage at N.E. 36 Street and North Miami Avenue. This development will also incorporate office and retail space. To the south of N.E. 36 Street, Midtown Miami features a complementary mix of larger,

big-box chain stores that are augmented by local and smaller chains, catering to everyday goods and

services of the surrounding population that includes the three residential phases with more than 900

units that are present in Midtown. Wynwood remains the least-expensive and most “cutting edge”

option for businesses among this trio of neighborhood markets, thus has become the primary

location of art studios and galleries seeking affordable rents, and augmented by some live/work loft

projects and an increasing restaurant and bar scene. Other furniture and décor sellers have moved

into retail spaces along the Biscayne Boulevard corridor and Edgewater neighborhood to the east,

particularly if their businesses are primarily focused on retail operations rather than designer

services based on a particular luxury brand or designer.

The trendy restaurant and nightlife scene for local residents in Miami has gradually shifted

from Coconut Grove in the 1980s, to South Beach in the 1990s and 2000s, to Wynwood, Midtown

and the Design District over the past several years. To a much-lesser extent, these markets offer



office spaces in the interiors and upper floors of some multi-story buildings. However, with a

neighborhood environment that caters to creative users, interior designers, cultural venues and other

similar businesses, this space typically draws demand from related creative businesses such as

architectural and media firms rather than traditional office users such as law, finance and accounting

firms. Although some furniture and décor retailers have moved into spaces in Edgewater and along

Biscayne Boulevard to the east, office buildings in that location continue to cater to more-traditional

office space users such as accountants, law firms and finance professionals.

Conclusions:

During the past 15 years, Miami’s Design District has been substantially gentrified, with these efforts primarily led by its largest property owner (Craig Robins of Dacra Realty). This market has traditionally featured interior design and furniture showroom businesses, with some ancillary office and retail/restaurant space. Demand for space in this market was augmented by a spillover effect of gentrification of waterfront neighborhoods across Biscayne Boulevard to the east, and the development Midtown Miami to the south. The effects of Art Basel on this market poured fuel on this fire, attracting large numbers of art galleries and an increasing base of creative businesses include upscale interior design and retail stores and restaurants, with a spillover effect into the Wynwood neighborhood to the southwest. With more than 70% of the properties in the Design District under Mr. Robins’ control, a unified redevelopment and marketing effort of this neighborhood has been conducted. Over the past eight years, these three adjacent neighborhoods have become one of the hottest and trendiest locations in the regional market for shopping, dining, interior design, gallery-hopping, entertainment, and cultural venues.

In recent years, each of these three neighborhoods have developed a distinct niche of space users and businesses, creating three different “lifestyle” centers of shopping, art, design and fashion. The Design District is emerging as the most upscale of the three, attracting ultra-luxury shopping boutiques for its central blocks, whose first two phases are nearing the completion of a substantial redevelopment by its largest property owner in conjunction with a partnership with the Louis Vuitton luxury retail group of affiliated high-fashion brands. Upscale home furnishing and interior design showrooms and stores surround this area of luxury boutique stores, along with restaurants, cafes and some ancillary office space that caters to other creative businesses such as architectural and media firms. With most properties’ ownership by a single entity, singular coordination of this continuing redevelopment into its northern third phase can further enhance the mixture of these specialty fashion, design and restaurant tenants, increasing visitation by customers seeking a shopping “experience” and improving the circulation of these visitors between properties and throughout the Design District.

Altogether, this clearly indicates that the subject’s Design District is emerging as a regional lifestyle center specializing in ultra-luxury fashion, high-end interior design and home furnishing outlets. Thus, the Design District is considered to be the Class “A” location for these types of businesses in Miami-Dade County. This counters and complements Midtown Miami to the south, whose retailer stores and restaurants include national and regional chains selling goods and services to the surrounding residential population, and Wynwood, whose less-pricey commercial spaces are increasingly sought by artists, gallery owners and entertainment spaces. In recent years, furniture and décor retailers have sought space in Edgewater and along the Biscayne Boulevard corridor to the east in order to take advantage of the synergies generated by this congregation of creative businesses; however, these retailers typically offer products and pricing that attract greater masses of the general public, compared to the exclusive clientele sought by the high-end designer and decor businesses in the Design District.



SITE DESCRIPTION

Location: The appraised property consists of excess land to be created as a result of the proposed redevelopment of the DASH School site. Two redevelopment options have been selected for analysis – Option 2.0 and Option 3.1. The parent property is situated at 4005 NE 2nd Avenue, Miami, FL 33137.

Census Tract Number: 12086002201 Areas: Parent Tract 73,121 SF or 1.68 acres Option 2 40,655 SF or 0.93 acres Option 3.1 37,102 SF or 0.85 acres Topography: Level/Adequate Soil Conditions: No soil report provided. Conditions appear adequate to

support development Utilities: Water: Miami-Dade WASA Sewer: Miami-Dade WASA Electric: FPL Phone: Various Access: Good Land Use Restrictions: None noted Flood Insurance: Zone X 1286C0304L 11-Sep-09 Street Improvements: Sidewalks, curbs, gutters, street lights, bike lanes Comments: The parent site is irregular in shape. It wraps around three

parcels that occupy the corner of NE 2nd Avenue and NE 39th Street. Its eastern boundary extends northeast following the alignment of the adjacent rail road ROW.

Option 2 – This site would consist of two general areas. One

is a rectangular, prime parcel fronting NE 2nd Avenue. This area measures 168.12’ X 110’ or 18,493 SF according to



exhibits provided by the planners. The second area is in the northeast area of the parent. It is slightly irregular. Overall, the site is irregular in shape, and would have secondary access via a shared access easement across the portion of the property that would be retained for the school.

Option 3.1 – This site would consist of two general areas.

One is a rectangular, prime parcel fronting NE 2nd Avenue. This area measures 168.12’ X 110’ or 18,493 SF according to exhibits provided by the planners. The second area is in the southern end of the parent. It is slightly irregular. Overall, the site is irregular in shape, and would have secondary access via 39th Street and via a shared access easement across the portion of the property that would be retained for the school.



REAL PROPERTY TAXES AND ASSESSMENTS

The subject property is assessed under the jurisdiction of Miami-Dade County, FL. The

assessment for the property is established each year as of January 1st by the County Property

Appraiser's Office at 100 percent of "Just Value". Just Value has been equated to Market Value less

closing costs. While the State of Florida requires real estate to be assessed at 100 percent of Just

Value, in reality, the ratio of the assessed value to sales price is generally below 100 percent.

Tax due is computed according to annual millage rates established by the city, county and

state. Millage rates are the amount paid per $1000 of assessed value. The 2015 calendar year is the

most recent year for which assessed valuation information is available. The 2015 millage rate is not

yet finalized. Taxes are payable in November with a 4% discount and become delinquent on the

following April 1st.

The total assessed value and taxes for the parent property are summarized as follows:

Land Assessment: $2,486,114

Improvement Assessment: $1,566,162

Total Assessment: $4,052,276

The property has been exempt from taxation. In the event of a sale of a portion of the

property, a buyer would expect the tax assessment to be adjusted and the taxes would amount to

about 2% of the total value.



ZONING The subject is zoned CI – Community Institution, but in the Future Land Use Map it is

slated for commercial use.

Zoning Map

Adjacent zones include the Design District SAP as well as areas zoned T6-8-O and T6-12-

O.



Future Land Use Map

Since the subject is slated for general commercial use in the future land use map, it is likely

that the civic zoning could be changed to conform with the surrounding zoning districts.

Given the nature of the existing and planned development in the neighborhood, investors

would likely expect to develop the property with high end retail uses in the ground floor along NE

2nd Avenue and secondary office and showroom uses in the areas away from the main

thoroughfares.



HIGHEST AND BEST USE According to The Dictionary of Real Estate Appraisal, published by the Appraisal Institute,

highest and best use may be defined as:

1 That reasonable and probable use that supports the highest present value of vacant land or improved property, as defined, as of the date of appraisal.

2 The reasonably probable and legal use of land or sites as though vacant, found to be physically possible, appropriately supported, financially feasible, and that results in the highest present land value.

3 The most profitable use. Implied in these definitions is that the determination of highest and best use takes into account the contribution of a specific use to the community and community development goals as well as the benefits of that use to individual property owners. Hence, in certain situations the highest and best use of land may be for parks, green belts, preservation, conservation, wildlife habitats, and the like."

Highest and best use (H&BU) is analyzed under two separate applications or scenarios: (1)

highest and best use of the site as though vacant and (2) highest and best use of the property as

improved. The highest and best use of the site as though vacant is based on the theory that land will

be put to its maximally productive use and this use will determine the highest site value. It is the

basis for valuing the site.

Highest and best use of the property as improved determines what use or type of occupancy

will create the highest value for the entire property, given the existing improvements. It is the basis

for comparable selection in both the sales comparison and income capitalization approaches to

value.

We have evaluated the site's highest and best use – which is vacant. Highest and best use

must meet four criteria. The use must be (1) legally permissible, (2) physically possible, (3)

financially feasible, and (4) maximally productive.

Highest and Best Use as Though Vacant Currently, the property is zoned CI and it is designated for commercial development in the

future land use map. The Design District Special Area Plan zoning is adjacent and its boundaries

were recently expanded to the north to encompass the block northeast of the intersection of NE 2nd

Avenue and NE 42nd Street. These factors and others support the conclusion that the zoning of the

property would likely be changed to accommodate expansion of the type of development being

undertaken in the immediate area. Thus, from a “legally permissible” standpoint, most investors in

property like the subject would expect to obtain a new zoning designation for the property that

would permit development compatible with surrounding uses. Using the Design District SAP as a



guide, an FAR (not including parking) of approximately 2.0 and an FLR or about 3.5 (including

parking) would be considered reasonable.

In both configurations being considered, the key attraction is the 168’ of frontage along NE

2nd Avenue, just across from the intersection with 40th Street. This is a high visibility location that

would benefit well designed ground floor retail space. Retail space in this location would bring

substantial rents – the yeoman’s share of the net income that would be anticipated from

development of the excess land under either option. The balance of the land area – which lacks the

premier frontage, is more suitable to office and possibly other complementary uses (hotel, retail) in

a multi-story configuration.

Under Option 2, the space “behind” the principal retail parcel is situated in the northeast

quadrant of the subject property. It is trapezoidal with its eastern boundary extending from

southwest to northeast, following the adjacent rail. Access would be facilitated by a shared access

easement extending along the east side of the retained property.

Under Option 3.1, the space “behind” the principal retail parcel is situated in the south end

of the parent site, extending north/south parallel to a 32’ with shared access easement area. At its

south end, this portion of the site would have 60’ of frontage along the north side of NE 39th Street.

Its width increases as it extends north to a maximum 112.8’ at its shared property line with the

retained school property.

Physically, under each of the two options, the site is suitable for any number of uses. Shape

is a limiting factor, particularly in Option 3.1 and there may be challenges posed by setback

regulations at its south end.

From among the physically possible options, the financially feasible alternatives include

high end retail development of the primary frontage. In most high streets retail areas around the

country, high exposure locations provide the highest rents. Land sale price levels and net rent levels

suggest that the “100% location” in the district is probably near Miami Avenue and 39th Street.

Still, the subject’s primary frontage is among the next tier of locations because it provides visual

exposure to all eastbound traffic (including motorists, cyclists and, importantly, pedestrians) on NE

40th Street. Uses for upper floors and for the back portions of the site are less clearly feasible

without identified tenants. Likely though, a mixed use plan, supported by the retail rents on the

frontage, would be feasible.



The maximally productive highest and best use plan for the subject is more difficult to

isolate and changes with changes in demand levels. To date, most new development in the Design

District has not gone beyond mid-rise in execution. The high rates being paid in some of the recent

property acquisitions almost certainly are based on some future income potential from upper floors,

but so far most development is heavily geared toward the pedestrian populace attracted by the big

art shows. With adequate residential, hotel and office product being added in the areas surrounding

the Design District, this trend is likely to continue for the near to mid-term.

In conclusion, it is our opinion that the highest and best use of the property under either

option is for development of a mixed-use facility anchored by flagship retail space along the NE 2nd

Avenue frontage.

Highest and Best Use Conclusions

Use Mixed use development Timing Current User Retailers, creatives, office users Buyer Investor/Developer



SECTION III VALUATION PROCESS



VALUATION PROCESS There are three recognized approaches considered in the valuation of real property; Cost

Approach, Income Approach, and the Market Data or Sales Comparison Approach. The type and

age of the property, and the quantity of available data affect the applicability of each approach in a

specific appraisal situation. In this instance, as we are only estimating the vacant land only the sales

comparison approach was considered in the estimation of market value.

The appraisal process is concluded by a review and re-examination of the approach to value

that was employed. Consideration is given to the type and reliability of data used and the

applicability of data to the approach. These factors are reconciled and a final value estimate is

made.



LAND VALUATION The Sales Comparison Approach is used to estimate land value. The methodology includes

an analysis of what buyers in the area are paying for similar sites. The value of the subject is

derived from sales of comparable sites. It is necessary to evaluate factors such as time of sale,

location, size, density, frontage, access, plottage and other factors when making the comparison.

Following is a summary of properties we compared with the property appraised, and a map showing

their locations.

Methodology The subject site is valued at its highest and best use. This approach involves an analysis and

comparison of vacant site sales (each having a similar development potential as the subject’s highest

and best use) to the subject. In making comparisons, factors such as financing, market conditions

(time), location, size, topography, density, frontage, access, physical attributes, including the water-

orientation, and others were considered and evaluated. A search of the public records and a field

investigation were undertaken to uncover recent transfers of land comparable to the subject. We

have identified (5) primary land sales and numerous secondary land sales that we believe have

relevance to the subject site in the current market. We have also considered current market

offerings.

The subject site was valued by comparison with sales of sites that have been developed with

or planned for development of mixed-use projects. Some of the smaller sale sites include buildings

that have continued use, particularly if they are extensively renovated.

Recent commercial land sales activity has begun to increase after the recessionary slowing

following year over year increases through 2004. While the supply of commercial land in the

urbanized areas of Miami-Dade County is low relative to other cities in the Southeast, the lack of

available credit and the uncertain market have affected both activity and price. Developers or users

with imminent plans purchased all of the sales. Details of the five primary sales are presented in the

Addenda.

Adjustments were made to the land sales based on the highest and best use on each of the

subject sites. A summary of these adjustments follows.

201548 DASH REDEVLOPMENT


Rec. Sale Sale Size(SF) Sale Price/ Comments

No. No. Location Date Acres Zoning Price SF

1621 1 Power Design District, LLC Jun-15 11,336 T6-12 O $14,000,000 $1,235

3711 NE 2nd Ave 0.26Miami, FL 3313701-3219-019-0370

2076 2 3620 NE 2nd Ave May-15 6,195 T6-12 O $5,490,000 $886

Miami, FL 33137 0.1401-3219-019-0370

2077 3 Power Design District, LLC May-13 11,336 T6-12 O $8,000,000 $706

3711 NE 2nd Ave 0.26Miami, FL 3313701-3219-019-0370

1946 4 3704 NE 2nd Ave May-12 2,875 T6-12 O $3,500,000 $1,217Miami, FL 33137 0.0701-3124-022-0100

1947 5 220 NE 43rd Street Jul-14 85,729 T3L $12,500,000 $146220 NE 43rd Street 1.97Miami, FL 3313701-3219-009-0070

Subject DASH - Options 2 and 3.1 37,102 CIMiami, FL 33137 to 40,65501-3219-014-0011 0.85

to 0.93

PRIMARY CO MPARABLE LAND SALES

This is the sale of a parcel at the southeast corner of the design district, justnorth of I-195 at the end of NE 38th Street. A flagship retail building hasbeen designed for the Property, with proposed renderings featuring a two-story retail plan with a +/-5,800 sf. rooftop deck for private events.Architectural plans for the property are close to 90% complete. Theproperty could be ready for construction within 60 days from lease.

Initial acquisition of Sale 1. Buyer removed a building (Power Studios) andcompleted infrastructural and permitting work.

Small parcel improved with a 4 story building constructed in 1926 thatcontains about 10,000 SF. The property also gets income from a billboardthat provides exposure to I-195 traffic.

Sale of a full block situated at the north end of the Design District. Reportsindicate that the property (improved with a religious building that wasrecently demolished) will be developed with 82 residential units, 70,000 SFof commercial space and 302 parking spaces.

SUBJECT - Under two development scenarios. Both have a primary rectangular portion along NE 2nd Ave that makes up about 18,400 SF. The balance of each parcel is located in the rear of the property, away from the primary street frontage.

Sale of a rectangular parcel that is situated on the west side of NE 2ndAvenue, just south of I-195. The site is improved with 5,186 SF of olderimprovements including the Cypress Room restaurant.



Land Sales Map



SALE PRICE LOCATION LAND SIZE SHAPE UTILITIES/TOPOGR DEMOLITION ZONING CUMULATIVE

NO. /SQ. FT. Comparison Adjustment Comp Adj Comp Adj Comp Adj Comp Adj Comp Adj ADJUSTMENT

SUBJECT Design District 22,500 SF Irregular Available Vacant CI0.52 acres

1 $372 Superior ($18.59) 11,336 ($18.59) Slightly ($18.59) Available $0.00 Vacant $0.00 T6-12 O ($37.19) ($92.97)-5.0% 0.26 -5.0% Irregular -5.00% Level 0.0% 0.0% -10.0%

2 $414 Slightly $20.71 6,195 ($20.71) Rectangular ($20.71) Available $0.00 Demolition ($8.28) T6-12 O ($41.42) ($70.41)Inferior 5.0% 0.14 -5.0% -5.0% Level 0.0% -2.0% -10.0%

3 $394 Slightly $19.71 11,336 ($39.42) Rectangular ($19.71) Available $0.00 Building $0.00 T6-12 O ($39.42) ($78.83)Inferior 5.0% 0.26 -10.0% -5.00% Level 0.0% 0.0% -10.0%

4 $187 Slightly $9.33 2,875 ($28.00) Rectangular ($9.33) Available $0.00 Building $0.00 T6-12 O ($18.67) ($46.67)Inferior 5.0% 0.07 -15.0% -5.00% Level 0.0% 0.0% -10.0%

5 $597 Inferior $119.35 85,729 $119.35 Rectangular ($29.84) Available $0.00 Demolition $5.97 T3L $29.84 $244.6620.0% 1.97 20.0% -5.00% Level 0.0% required 1.0% 5.0%

SUMMARY OF ADJUSTMENTS FOR PHYSICAL CHARACTERISTICS - PRICE/SF



ADJ. ADJ. INDICATEDSALE PRICE/ TERMS OF SALE PRICE MARKET CO NDITIO NS PRICE VALUENO. SF Comparison Adjustment /SF Comp Adj /SF Comp Adj PER SF

SUBJECT Cash Current

1 $1,235 Cash $0.00 $1,235 Jun-15 $30.88 $1,266 From ($92.97) $1,1730.0% 2.50% Other Grid

2 $886 Cash $0.00 $886 May-15 $33.23 $919 From ($70.41) $8490.0% 3.75% Other Grid

3 $706 Cash $0.00 $706 May-13 $238.18 $944 From ($78.83) $8650.0% 33.75% Other Grid

4 $1,217 Cash $0.00 $1,217 May-12 $593.48 $1,811 From ($46.67) $1,7640.0% 48.75% Other Grid

5 $146 Cash $0.00 $146 Jul-14 $23.69 $170 From $244.66 $4140.0% 16.25% Other Grid

$838 : Average unadjusted prices Average adjusted prices : $1,013

Unit Price Land SF $/SF Value

$414$1,764$1,013

37,102 $900 $33,391,80040,655 $900 $36,589,500

Average Adjusted PricesChosen Value - Option 2Chosen Value - Option 3.1

SUMMARY OF ADJUSTMENTS TO LAND SALES - JUNE, 2015

Other

MinMax

201548 DASH REDEVELOPMENT


Land Sales Analysis

The preceding sales were confirmed to offer the best indication of value of the subject site

via the Sales Comparison Approach. A number of sales were examined, and in the final analysis

they were narrowed to the five comparable transactions. The selected sales are transactions

involving property on NE 2nd Avenue in the Design District. A broader summary of the land sale

activity in the Design District since 2010 follows.



Sale Address O wner of Record SaleNo. Price

DACRA1 100 NE 39 St. Electra Acquisitions Nov-10 27,704 28,856 $152.48

3801 NE 1st St. Electra Acquisitions 3,258 105 NE 38 St. Electra Acquisitions 2,533

$4,400,000 33,495 $131.362 140 NE 39 St. Dacra Design Miami Dec-10 $1,370,900 45,925 $29.853 119 NE 39 St Hale Daniel Design May-11 $1,350,000 4,982 $270.98 5,080 $265.754 94 NE 40 St Lovely Rita Acquisitions Oct-11 $8,250,000 10,000 $825.00 8,233 $1,002.065 92 NE 40 St. Norwegian Wood Acquisitions Oct-11 $7,000,000 7,500 $933.33 6,676 $1,048.536 3815 NE Miami Ct. Amir Lots LLC Nov-11 $2,052,500 5,037 $407.487 99 NE 39 St Lady Jane Acquisitions Nov-11 $10,000,000 9,409 $1,062.81 8,941 $1,118.448 50 NE 39 St. Lady Jane Acquisitions Dec-11 $2,715,000 6,230 $435.79 5,372 $505.409 90 NE 41 St. Sweet Virginia Acquisitions Jan-12 5,250

84 NE 41 St. Sweet Virginia Acquisitions 5,250 80 NE 41 St. Sweet Virginia Acquisitions 5,250 60 NE 41 St. Sweet Virginia Acquisitions 10,500 56 NE 41 St. Sweet Virginia Acquisitions 26,250

TOTAL $6,000,000 26,250 $228.57 57,786 $103.8310 81 NE 40 St. Sweet Virginia Acquisitions Two Jan-12 $5,000,000 7,500 $666.67

TO TAL: $48,138,400 156,328 $307.93 120,944 $398.02RO TH & SCHO LL

11 101 NE 39 St. Cumberland Acquisitions Jul-11 8,178 $524.58 9,003 $476.51100 NE 40 St Cumberland Acquisitions 4,400 3,926 108 NE 40 St. Cumberland Acquisitions 4,500 3,209

TOTAL $4,290,000 17,078 $251.20 16,138 $265.8312 108 NE 39th St. Golden Road Holdings Feb-11 $1,825,000 4,700 $388.30 4,590 $397.6013 53 NE 39 St Dark Hollow Holdings Mar-11 $1,043,000 4,700 $221.91 1,702 $612.8114 135 NE 41 St. Scarlet Begonia Holdings Apr-11 $850,000 6,300 $134.92 2,120 $400.94

TO TAL: $8,008,000 32,778 $244.31 24,550 $326.19SAM HERZBERG

15 50 NE 40 St DH Design District Feb-12 7,500 7,517 40 NE 40 St DH Design District 5,000 4,541

TOTAL $8,100,000 12,500 $648.00 12,058 $671.7516 28 NE 40 St D&R Design District Apr-12 $2,625,000 5,000 $525.00 723 $3,630.71

TO TAL: $10,725,000 17,500 $612.86 12,781 $839.14THO R EQ UITIES

17 53 NE 39 St. Thor Equities Mar-14 $5,650,000 4,700 $1,202.13 1,702 $3,319.6218 40-50 NE 40 St. Thor Equities May-14 $20,000,000 12,500 $1,600.00 12,166 $1,643.9319 10-28 NE 40 St. Thor Equities May-14 $20,000,000 10,500 $1,904.76 5,723 $3,494.6720 2 NE 40 St. Thor Equities May-14 $5,400,000 9,066 $595.63 32,733 $164.9721 3925 N. Miami Av. Thor Equities Oct-14 $15,800,000 9,400 $1,680.85 4,863 $3,249.0222 56 NE 40 St. Thor Equities Mar-15 $16,000,000 9,700 $1,649.48 4,174 $3,833.25

TO TAL: $82,850,000 55,866 $1,483.01 61,361 $1,350.21REDSKY CAPITAL/JZ CAPITAL

23 1 NE 40 St. RedSky Capital/JZ Capital Feb-15 $29,250,000 14,700 $1,989.80 19,436 $1,504.9424 35 NE 40 St. RedSky Capital/JZ Capital Mar-15 $28,000,000 12,500 $2,240.00 17,391 $1,610.0325 21 NE 39 St RedSky Capital Jun-15 $24,000,000 9,400 $2,553.19 8,310 $2,888.09

TO TAL: $81,250,000 36,600 $2,219.95 45,137 $1,800.08O THERS

26 120 NE 39 St. SC Invstmt. (Ugo Columbo) May-11 $3,000,000 4,700 $638.30 3,720 $806.4527 4025 NE 2nd Av. Boy Blue LLC Sep-11 $2,600,000 4,620 $562.77 5,500 $472.7328 3995 N. Miami Av RD Design District Feb-12 $6,000,000 9,066 $661.81 32,733 $183.3029 3620 NE 2nd Av. High St. Properties Apr-12 $1,782,000 6,970 $255.67 4,018 $443.5030 3704 NE 2nd Av 3704 NE 2nd Av May-12 $3,500,000 4,735 $739.18 5,979 $585.3831 21 NE 39 St MAC DD Jul-12 $4,257,000 9,400 $452.87 8,310 $512.2732 3711 NE 2nd Av. Lyle Chariff Jun-13 $8,000,000 11,336 $705.72 13,102 $610.5933 3635 NE 1st Ave. Mack RE/Wharton Equity Jun-13 $9,000,000 60,984 $147.58 34 3630 NE 1st Ct. Lombak May-15 $7,000,000 9,300 $752.69 5,875 $1,191.4935 3711 NE 2nd Av. Lyle Chariff/Wharton Equity Jun-15 $14,000,000 11,336 $1,235.00

TO TAL: $45,139,000 121,111 $372.71 73,362 $615.29TO TAL: $276,110,400 420,183 $657.12 338,135 $816.57

DESIGN DISTRICT ASSEMBLAGES SINCE LATE 2010Date of

SaleSF of Land

Price/SF of Land

SF of Improv.

Price/SF of Building



The broader summary of sales provides important background. First, by summarizing the

assemblages, the total weighted average land basis underlying each project can be estimated. For

instance, DACRA, which has been assembling its site since even before 2010 has a land basis in

this decade that amounts to just under $308 per square foot. Since the overall development provides

just over 2 square feet of development for each square foot of land area, the land basis per

saleable/leasable square foot amounts to about $140 to $160. More recent entrants into the market,

such as Thor Equities and RedSky Capital have much higher land bases. We note that the highest

prices per square foot indicated in the land sale data are for assemblages in the Miami Avenue and

NE 40th Street location.

There are several units of comparison generally employed in the analysis of urban

commercial land. In this instance, the market dictates the most appropriate index is price per square

foot.

All of the transactions were financed at market terms by third party financial institutions;

hence, no adjustments for financing were required. If atypical financing were involved in the

transaction, the appraiser would determine if those terms had a quantifiable effect on the sale price

necessitating an adjustment.

Each transaction was confirmed to be arm's length between willing buyers and sellers;

therefore, no adjustments for abnormal conditions of sale were necessary. However, if a listing is

included in the analysis, a downward adjustment is considered to reflect a typical cushion for

negotiations. Nonetheless, the amount of adjustment, if any, would depend on the asking price as it

relates to the market at that time. Some transactions might include a bank sale sometimes referred

to as "short sale". An adjustment will be made if warranted based on confirmation of that

transaction.

Adjustments for time and price trends attempt to quantify changes in market conditions

between the date of each sale and the date of the appraisal, based on current market conditions and

available properties. The transactions range back to 2012 and the older sales required substantial

market conditions adjustments to account for the market increases – evidenced, to some degree by

the paired sale described in Land Sales 1 and 3 (the same property). Not all of the increase is

market based as the buyer in the first transaction completed infrastructural upgrades and

development planning and permitting for the property between the two transactions. Adjustment



for this category would be based on any quantifiable appreciation or depreciation, typically

identified through paired sales analysis.

Adjustments for location typically are associated with the general demographics of the area

and property specific influences such as traffic counts, ingress/egress, proximity to linkages such as

interstates and overall characteristics of an area.

Site size is an adjustment in which comparable site size is compared to the subject.

Depending on the market segment, variation in site size can have effect up to a point on the price

per square foot index. Typically, if a comparable site is larger than the subject site, an upward

adjustment is applied to reflect economies of scale. Conversely, if a comparable site is smaller than

the subject site, a downward adjustment was applied. This category can also include adjustments

for parcels that may have off-site retention and reflect a fully buildable lot.

Zoning is an important consideration in land sales analysis as it specifies the development

potential of a given parcel. In this category, the comparable zoning classification relative to

allowable uses, building setbacks and other restrictions are compared to the subject. Generally

speaking, zoning classifications that allow more uses and flexible development are superior.

The availability of municipal services, specifically water and sewer, is an important attribute

to a typical site. The adjustment would be applied if the comparable has a different availability of

municipal services as the subject. This is especially true for parcels that may need to have

municipal lines extended to the property at a cost.



Conclusion – Option 2 The unadjusted sales prices of the primary sales ranged between $146 and $1,235 per square

foot. After adjustments, as summarized, the adjusted price range was from $247 to $1,539 per

square foot. The average adjusted price of these sales was $875/SF, but the best indicator provided

an adjusted indication of $1,019/SF.



Conclusion – Option 3.1 The unadjusted sales prices of the primary sales ranged between $146 and $1,235 per square

foot. After adjustments, as summarized, the adjusted price range was from $414 to $1,764 per

square foot. The average adjusted price of these sales was $1,013/SF.

Estimated Marketing Time: 12 Months

The concluded values per square foot - $1,000 for Option 2 and $1,074 for Option 3.1

were considered in relation to area listings. One key listing is the Design District Half Circle, a



slightly irregular site that fronts on NE 39th Street and Biscayne Boulevard, just southeast of the

subject property.

The 27,698 square foot property is listed by Lyle Chariff for $23,000,000 or $830.38 per square

foot. This asking price seems logical relative to the conclusions for the subject because it is

situated east of the rail road tracks, with less direct connection (particularly pedestrian connection)

to the design district and Paseo Ponti.


A D DE N D A


A. – Photographs

DASH Redevelopment

Miami, FL

Pictometry Aerial – Directly above

Pictometry – Looking northerly

Looking easterly – I-195 at right

Looking westerly – I-195 at left


B. Demographic Reports

Site Details Map4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRings: 0.5, 1, 1.5 mile radii Latitude: 25.81377

Longitude: -80.19107

This site is located in:City: Miami city

County: Miami-Dade County

State: Florida

ZIP Code: 33137

Census Tract: 12086002201Census Block Group: 120860022012

CBSA: Miami-Fort Lauderdale-West Palm Beach, FL Metropolitan Statistical Area

September 01, 2015

©2015 Esri Page 1 of 1

Traffic Count Map - Close Up4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRings: 0.5, 1, 1.5 mile radii Latitude: 25.81377


Source: ©2015 Market Planning Solutions, Inc.

September 01, 2015


Demographic and Income Comparison Profile4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRings: 0.5, 1, 1.5 mile radii Latitude: 25.81377

Longitude: -80.191070.5 miles 1 mile 1.5 miles

Census 2010 SummaryPopulation 7,231 24,891 48,647Households 3,436 9,939 19,466Families 1,514 5,155 10,125Average Household Size 2.07 2.41 2.42Owner Occupied Housing Units 1,102 2,767 5,443Renter Occupied Housing Units 2,334 7,172 14,023Median Age 35.7 34.9 34.5

2015 SummaryPopulation 8,004 27,474 54,051Households 3,829 11,086 22,089Families 1,683 5,708 11,188Average Household Size 2.06 2.39 2.38Owner Occupied Housing Units 980 2,603 5,269Renter Occupied Housing Units 2,850 8,483 16,820Median Age 35.3 35.2 35.0Median Household Income $47,900 $34,826 $35,232Average Household Income $69,289 $53,219 $54,291

2020 SummaryPopulation 8,810 30,403 59,489Households 4,232 12,379 24,648Families 1,865 6,329 12,297Average Household Size 2.05 2.38 2.35Owner Occupied Housing Units 1,021 2,818 5,762Renter Occupied Housing Units 3,211 9,561 18,885Median Age 35.2 35.6 35.4Median Household Income $54,400 $40,401 $41,278Average Household Income $79,069 $61,679 $63,094

Trends: 2015-2020 Annual RatePopulation 1.94% 2.05% 1.94%Households 2.02% 2.23% 2.22%Families 2.07% 2.09% 1.91%Owner Households 0.82% 1.60% 1.80%Median Household Income 2.58% 3.01% 3.22%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2015 and 2020.

September 01, 2015




2015 Households by Income Number Percent Number Percent Number Percent<$15,000 629 16.4% 2,612 23.6% 5,466 24.7%$15,000 - $24,999 443 11.6% 1,751 15.8% 3,214 14.6%$25,000 - $34,999 320 8.4% 1,194 10.8% 2,291 10.4%$35,000 - $49,999 583 15.2% 1,711 15.4% 3,253 14.7%$50,000 - $74,999 828 21.6% 1,700 15.3% 3,109 14.1%$75,000 - $99,999 343 9.0% 811 7.3% 1,817 8.2%$100,000 - $149,999 328 8.6% 623 5.6% 1,670 7.6%$150,000 - $199,999 111 2.9% 267 2.4% 467 2.1%$200,000+ 241 6.3% 413 3.7% 797 3.6%

Median Household Income $47,900 $34,826 $35,232Average Household Income $69,289 $53,219 $54,291Per Capita Income $31,311 $21,615 $22,328

2020 Households by Income Number Percent Number Percent Number Percent<$15,000 627 14.8% 2,753 22.2% 5,735 23.3%$15,000 - $24,999 344 8.1% 1,444 11.7% 2,647 10.7%$25,000 - $34,999 277 6.6% 1,175 9.5% 2,183 8.9%$35,000 - $49,999 595 14.1% 1,855 15.0% 3,524 14.3%$50,000 - $74,999 1,051 24.9% 2,247 18.2% 4,129 16.8%$75,000 - $99,999 505 11.9% 1,179 9.5% 2,558 10.4%$100,000 - $149,999 383 9.1% 797 6.4% 2,105 8.5%$150,000 - $199,999 160 3.8% 403 3.3% 701 2.8%$200,000+ 287 6.8% 522 4.2% 1,061 4.3%

Median Household Income $54,400 $40,401 $41,278Average Household Income $79,069 $61,679 $63,094Per Capita Income $35,677 $25,211 $26,246

Data Note: Income is expressed in current dollars.


September 01, 2015




2010 Population by Age Number Percent Number Percent Number PercentAge 0 - 4 394 5.5% 1,563 6.3% 3,124 6.4%Age 5 - 9 266 3.7% 1,229 4.9% 2,552 5.2%Age 10 - 14 286 4.0% 1,175 4.7% 2,512 5.2%Age 15 - 19 351 4.9% 1,403 5.6% 2,906 6.0%Age 20 - 24 532 7.4% 1,978 7.9% 3,961 8.1%Age 25 - 34 1,686 23.3% 5,162 20.7% 9,753 20.0%Age 35 - 44 1,226 17.0% 3,811 15.3% 7,171 14.7%Age 45 - 54 1,014 14.0% 3,258 13.1% 6,605 13.6%Age 55 - 64 705 9.8% 2,455 9.9% 4,868 10.0%Age 65 - 74 425 5.9% 1,511 6.1% 2,937 6.0%Age 75 - 84 236 3.3% 898 3.6% 1,590 3.3%Age 85+ 110 1.5% 449 1.8% 668 1.4%

2015 Population by Age Number Percent Number Percent Number PercentAge 0 - 4 435 5.4% 1,743 6.3% 3,390 6.3%Age 5 - 9 319 4.0% 1,453 5.3% 2,963 5.5%Age 10 - 14 278 3.5% 1,303 4.7% 2,670 4.9%Age 15 - 19 354 4.4% 1,429 5.2% 2,795 5.2%Age 20 - 24 628 7.8% 2,122 7.7% 4,383 8.1%Age 25 - 34 1,948 24.3% 5,587 20.3% 10,825 20.0%Age 35 - 44 1,321 16.5% 4,255 15.5% 8,094 15.0%Age 45 - 54 1,026 12.8% 3,387 12.3% 6,882 12.7%Age 55 - 64 798 10.0% 2,870 10.4% 5,813 10.8%Age 65 - 74 498 6.2% 1,832 6.7% 3,667 6.8%Age 75 - 84 279 3.5% 999 3.6% 1,818 3.4%Age 85+ 120 1.5% 493 1.8% 754 1.4%

2020 Population by Age Number Percent Number Percent Number PercentAge 0 - 4 480 5.4% 1,977 6.5% 3,770 6.3%Age 5 - 9 340 3.9% 1,626 5.3% 3,172 5.3%Age 10 - 14 329 3.7% 1,525 5.0% 3,038 5.1%Age 15 - 19 346 3.9% 1,540 5.1% 2,949 5.0%Age 20 - 24 644 7.3% 2,153 7.1% 4,285 7.2%Age 25 - 34 2,229 25.3% 6,064 19.9% 12,147 20.4%Age 35 - 44 1,461 16.6% 4,771 15.7% 8,978 15.1%Age 45 - 54 1,029 11.7% 3,593 11.8% 7,136 12.0%Age 55 - 64 888 10.1% 3,181 10.5% 6,576 11.1%Age 65 - 74 575 6.5% 2,176 7.2% 4,357 7.3%Age 75 - 84 358 4.1% 1,247 4.1% 2,221 3.7%Age 85+ 132 1.5% 548 1.8% 861 1.4%


September 01, 2015




2010 Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 4,619 63.9% 13,707 55.1% 22,598 46.5%Black Alone 1,831 25.3% 8,464 34.0% 21,173 43.5%American Indian Alone 19 0.3% 125 0.5% 228 0.5%Asian Alone 151 2.1% 376 1.5% 639 1.3%Pacific Islander Alone 4 0.1% 9 0.0% 16 0.0%Some Other Race Alone 373 5.2% 1,291 5.2% 2,285 4.7%Two or More Races 235 3.2% 921 3.7% 1,708 3.5%Hispanic Origin (Any Race) 3,492 48.3% 12,404 49.8% 20,714 42.6%

2015 Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 5,242 65.5% 15,763 57.4% 26,813 49.6%Black Alone 1,811 22.6% 8,489 30.9% 21,353 39.5%American Indian Alone 24 0.3% 166 0.6% 309 0.6%Asian Alone 168 2.1% 430 1.6% 802 1.5%Pacific Islander Alone 5 0.1% 11 0.0% 18 0.0%Some Other Race Alone 463 5.8% 1,516 5.5% 2,697 5.0%Two or More Races 291 3.6% 1,099 4.0% 2,059 3.8%Hispanic Origin (Any Race) 4,194 52.4% 14,643 53.3% 24,864 46.0%

2020 Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 5,892 66.9% 18,088 59.5% 30,982 52.1%Black Alone 1,838 20.9% 8,667 28.5% 21,830 36.7%American Indian Alone 29 0.3% 210 0.7% 393 0.7%Asian Alone 190 2.2% 502 1.7% 975 1.6%Pacific Islander Alone 7 0.1% 14 0.0% 22 0.0%Some Other Race Alone 528 6.0% 1,697 5.6% 2,990 5.0%Two or More Races 327 3.7% 1,226 4.0% 2,298 3.9%Hispanic Origin (Any Race) 4,940 56.1% 17,227 56.7% 29,292 49.2%


September 01, 2015




0.5 miles

AreaStateUSA

Trends 2015-2020Trends 2015-2020

Ann

ual Rat

e (i

n pe

rcen

t) 2.5

2

1.5

1

0.5

0Population Households Families Owner HHs Median HH Income

20152020

Population by AgePopulation by Age

Perc

ent

25

20

15

10

5

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2015 Household Income 2015 Household Income

< $15K16.4%

$15K - $24K11.6%

$25K - $34K8.4%

$35K - $49K15.2%

$50K - $74K21.6%

$75K - $99K9.0%

$100K - $149K8.6%

$150K - $199K2.9%

$200K+6.3%

2015 Population by Race2015 Population by Race

Perc

ent

65605550454035302520151050

White Black Am.Ind. Asian Pacific Other Two+ Hisp


September 01, 2015




1 mile

AreaStateUSA

Trends 2015-2020Trends 2015-2020

Ann

ual Rat

e (i

n pe

rcen

t)

3

2.5

2

1.5

1

0.5


20152020


Perc

ent

20181614121086420

0-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


< $15K23.6%

$15K - $24K15.8%

$25K - $34K10.8%

$35K - $49K15.4%

$50K - $74K15.3%

$75K - $99K7.3%

$100K - $149K5.6%

$150K - $199K2.4%

$200K+3.7%


Perc

ent

55

50

45

40

35

30

25

20

15

10

5

0White Black Am.Ind. Asian Pacific Other Two+ Hisp


September 01, 2015




1.5 miles

AreaStateUSA

Trends 2015-2020Trends 2015-2020

Ann

ual Rat

e (i

n pe

rcen

t)

3

2.5

2

1.5

1

0.5


20152020


Perc

ent

20181614121086420

0-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


< $15K24.7%

$15K - $24K14.6%

$25K - $34K10.4%

$35K - $49K14.7%

$50K - $74K14.1%

$75K - $99K8.2%

$100K - $149K7.6%

$150K - $199K2.1%

$200K+3.6%


Perc

ent

45

40

35

30

25

20

15

10

5

White Black Am.Ind. Asian Pacific Other Two+ Hisp


September 01, 2015


Graphic Profile4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRing: 0.5 mile radius Latitude: 25.81377



6,000

5,000

4,000

3,000

2,000

1,000

0White Black Am.Ind. Asn/Pac Other Two+

65.5%

22.6%

0.3% 2.2% 5.8% 3.6%

<55-1920-2425-3435-4445-5455-6465+

2015 Population by Age2015 Population by Age

5.4%

11.9%

7.8%

24.3%

16.5%

12.8%10.0%

11.2%

2015 Percent Hispanic Origin: 52.4%

HouseholdsHouseholds

5,000

4,000

3,000

2,000

1,000

0Census 2010 2015 2020

3,4363,829

4,232

<$100K$100-199K$200-299K$300-399K$400-499K$500K+

2015 Home Value2015 Home Value

10.2%

32.1%

22.9%

11.4% 5.7%

17.7%

2015-2020 Annual Growth Rate2015-2020 Annual Growth Rate

Perc

ent

3

2.5

2

1.5

1

0.5

0Population Households Median Household Income Owner Occupied Housing Units

1.94 2.02

2.58

0.82

20152020

Household IncomeHousehold Income

Perc

ent

20

15

10

5

0<$15K $15K-$25K $25K-$35K $35K-$50K $50K-$75K $75K-$100K $100K-$150K $150K-$200K $200K+


September 01, 2015


Graphic Profile4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRing: 1 mile radius Latitude: 25.81377



18,000

16,000

14,000

12,000

10,000

8,000

6,000

4,000

2,000

White Black Am.Ind. Asn/Pac Other Two+

57.4%

30.9%

0.6% 1.6%5.5% 4.0%

<55-1920-2425-3435-4445-5455-6465+


6.3%

15.2%7.7%

20.3%

15.5%

12.3% 10.4%

12.1%



14,00012,000

10,0008,000

6,0004,000

2,0000

Census 2010 2015 2020

9,93911,086

12,379

<$100K$100-199K$200-299K$300-399K$400-499K$500K+


16.8%

36.7%

17.2%

7.9% 6.1%

15.3%


Perc

ent

3.53

2.52

1.51

0.50

Population Households Median Household Income Owner Occupied Housing Units

2.05 2.23

3.01

1.60

20152020


Perc

ent

20

15

10

5



September 01, 2015


Graphic Profile4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRing: 1.5 mile radius Latitude: 25.81377



30,000

25,000

20,000

15,000

10,000

5,000

White Black Am.Ind. Asn/Pac Other Two+

49.6%

39.5%

0.6% 1.5%5.0% 3.8%

<55-1920-2425-3435-4445-5455-6465+


6.3%

15.6%8.1%

20.0%

15.0%

12.7% 10.8%

11.5%



30,000

25,000

20,000

15,000

10,000

5,000

0Census 2010 2015 2020

19,46622,089

24,648

<$100K$100-199K$200-299K$300-399K$400-499K$500K+


22.8%35.7%

16.2%6.8%

4.6%

13.8%


Perc

ent

43.5

32.5

21.5

10.5

0Population Households Median Household Income Owner Occupied Housing Units

1.942.22

3.22

1.81

20152020


Perc

ent

20

15

10

5



September 01, 2015


Retail Market Potential4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRing: 0.5 mile radius Latitude: 25.81377


Demographic Summary 2015 2020Population 8,004 8,810Population 18+ 6,757 7,449Households 3,829 4,232Median Household Income $47,900 $54,400

Expected Number of Percent of Product/Consumer Behavior Adults/HHs Adults/HHs MPIApparel (Adults)

Bought any men's clothing in last 12 months 3,025 44.8% 93Bought any women's clothing in last 12 months 2,881 42.6% 95Bought clothing for child <13 years in last 6 months 1,610 23.8% 85Bought any shoes in last 12 months 3,505 51.9% 95Bought costume jewelry in last 12 months 1,296 19.2% 96Bought any fine jewelry in last 12 months 1,342 19.9% 102Bought a watch in last 12 months 733 10.8% 94

Automobiles (Households)HH owns/leases any vehicle 2,712 70.8% 83HH bought/leased new vehicle last 12 mo 263 6.9% 80

Automotive Aftermarket (Adults)Bought gasoline in last 6 months 4,798 71.0% 83Bought/changed motor oil in last 12 months 2,503 37.0% 75Had tune-up in last 12 months 2,018 29.9% 98

Beverages (Adults)Drank bottled water/seltzer in last 6 months 4,686 69.4% 106Drank regular cola in last 6 months 2,778 41.1% 90Drank beer/ale in last 6 months 2,983 44.1% 104

Cameras (Adults)Own digital point & shoot camera 1,937 28.7% 89Own digital single-lens reflex (SLR) camera 629 9.3% 108Bought any camera in last 12 months 542 8.0% 111Bought memory card for camera in last 12 months 357 5.3% 92Printed digital photos in last 12 months 131 1.9% 57

Cell Phones (Adults/Households)Bought cell phone in last 12 months 2,266 33.5% 92Have a smartphone 3,677 54.4% 112Have an iPhone 1,674 24.8% 133Number of cell phones in household: 1 1,471 38.4% 120Number of cell phones in household: 2 1,427 37.3% 101Number of cell phones in household: 3+ 738 19.3% 77HH has cell phone only (no landline telephone) 1,866 48.7% 129

Computers (Households)HH owns a computer 2,934 76.6% 100HH owns desktop computer 1,544 40.3% 83HH owns laptop/notebook 2,018 52.7% 103Spent <$500 on most recent home computer 416 10.9% 77Spent $500-$999 on most recent home computer"

589 15.4% 76Spent $1,000-$1,499 on most recent home computer 422 11.0% 110Spent $1,500-$1,999 on most recent home computer 189 4.9% 107Spent $2,000+ on most recent home computer 141 3.7% 95

Data Note: An MPI (Market Potential Index) measures the relative likelihood of the adults or households in the specified trade area to exhibit certain consumer behavior or purchasing patterns compared to the U.S. An MPI of 100 represents the U.S. average. Source: These data are based upon national propensities to use various products and services, applied to local demographic composition. Usage data were collected by GfK MRI in a nationally representative survey of U.S. households. Esri forecasts for 2015 and 2020.

September 01, 2015




Expected Number of Percent of Product/Consumer Behavior Adults/HHs Adults/HHs MPIConvenience Stores (Adults)

Shopped at convenience store in last 6 mos 3,444 51.0% 84Bought brewed coffee at convenience store in last 30 days 858 12.7% 83Bought cigarettes at convenience store in last 30 days 619 9.2% 70Bought gas at convenience store in last 30 days 1,351 20.0% 60Spent at convenience store in last 30 days: <$20 613 9.1% 111Spent at convenience store in last 30 days: $20-$39 517 7.7% 84Spent at convenience store in last 30 days: $40-$50 474 7.0% 92Spent at convenience store in last 30 days: $51-$99 223 3.3% 72Spent at convenience store in last 30 days: $100+ 1,110 16.4% 71

Entertainment (Adults)Attended a movie in last 6 months 4,133 61.2% 101Went to live theater in last 12 months 860 12.7% 101Went to a bar/night club in last 12 months 1,220 18.1% 106Dined out in last 12 months 2,782 41.2% 91Gambled at a casino in last 12 months 908 13.4% 91Visited a theme park in last 12 months 1,229 18.2% 101Viewed movie (video-on-demand) in last 30 days 1,035 15.3% 98Viewed TV show (video-on-demand) in last 30 days 1,040 15.4% 126Watched any pay-per-view TV in last 12 months 789 11.7% 89Downloaded a movie over the Internet in last 30 days 643 9.5% 144Downloaded any individual song in last 6 months 1,535 22.7% 111Watched a movie online in the last 30 days 1,292 19.1% 141Watched a TV program online in last 30 days 1,248 18.5% 137Played a video/electronic game (console) in last 12 months 715 10.6% 93Played a video/electronic game (portable) in last 12 months 288 4.3% 95

Financial (Adults)Have home mortgage (1st) 1,382 20.5% 65Used ATM/cash machine in last 12 months 3,266 48.3% 99Own any stock 482 7.1% 91Own U.S. savings bond 323 4.8% 83Own shares in mutual fund (stock) 438 6.5% 86Own shares in mutual fund (bonds) 234 3.5% 70Have interest checking account 1,534 22.7% 79Have non-interest checking account 1,512 22.4% 79Have savings account 3,222 47.7% 89Have 401K retirement savings plan 947 14.0% 95Own/used any credit/debit card in last 12 months 4,807 71.1% 96Avg monthly credit card expenditures: <$111 782 11.6% 98Avg monthly credit card expenditures: $111-$225 374 5.5% 85Avg monthly credit card expenditures: $226-$450 344 5.1% 80Avg monthly credit card expenditures: $451-$700 408 6.0% 111Avg monthly credit card expenditures: $701-$1,000 328 4.9% 112Avg monthly credit card expenditures: $1,001+ 585 8.7% 94Did banking online in last 12 months 2,308 34.2% 97Did banking on mobile device in last 12 months 864 12.8% 123Paid bills online in last 12 months 2,932 43.4% 104


September 01, 2015




Expected Number of Percent of Product/Consumer Behavior Adults/HHs Adults/HHs MPIGrocery (Adults)

Used beef (fresh/frozen) in last 6 months 4,164 61.6% 86Used bread in last 6 months 6,083 90.0% 95Used chicken (fresh or frozen) in last 6 mos 4,725 69.9% 98Used turkey (fresh or frozen) in last 6 mos 1,096 16.2% 89Used fish/seafood (fresh or frozen) in last 6 months 3,243 48.0% 86Used fresh fruit/vegetables in last 6 months 5,675 84.0% 97Used fresh milk in last 6 months 5,777 85.5% 95Used organic food in last 6 months 1,671 24.7% 126

Health (Adults)Exercise at home 2+ times per week 1,697 25.1% 88Exercise at club 2+ times per week 1,122 16.6% 128Visited a doctor in last 12 months 4,815 71.3% 94Used vitamin/dietary supplement in last 6 months 3,573 52.9% 99

Home (Households)Any home improvement in last 12 months 662 17.3% 63Used housekeeper/maid/professional HH cleaning service in last 12 months

450 11.8% 90Purchased low ticket HH furnishings in last 12 months 510 13.3% 85Purchased big ticket HH furnishings in last 12 months 748 19.5% 93Purchased bedding/bath goods in last 12 months 1,905 49.8% 93Purchased cooking/serving product in last 12 months 848 22.1% 91Bought any small kitchen appliance in last 12 months 806 21.0% 94Bought any large kitchen appliance in last 12 months 335 8.7% 68

Insurance (Adults/Households)Currently carry life insurance 2,003 29.6% 68Carry medical/hospital/accident insurance 4,023 59.5% 92Carry homeowner insurance 1,957 29.0% 61Carry renter's insurance 750 11.1% 150Have auto insurance: 1 vehicle in household covered 1,396 36.5% 116Have auto insurance: 2 vehicles in household covered 813 21.2% 76Have auto insurance: 3+ vehicles in household covered 320 8.4% 38

Pets (Households)Household owns any pet 1,543 40.3% 76Household owns any cat 658 17.2% 76Household owns any dog 889 23.2% 58

Psychographics (Adults)Buying American is important to me 2,313 34.2% 80Usually buy items on credit rather than wait 952 14.1% 124Usually buy based on quality - not price 1,355 20.1% 112Price is usually more important than brand name 1,775 26.3% 96Usually use coupons for brands I buy often 1,235 18.3% 97Am interested in how to help the environment 1,424 21.1% 126Usually pay more for environ safe product 1,003 14.8% 118Usually value green products over convenience 936 13.9% 136Likely to buy a brand that supports a charity 2,418 35.8% 105

Reading (Adults)Bought digital book in last 12 months 864 12.8% 115Bought hardcover book in last 12 months 1,525 22.6% 100Bought paperback book in last 12 month 2,395 35.4% 105Read any daily newspaper (paper version) 1,605 23.8% 84Read any digital newspaper in last 30 days 2,414 35.7% 114Read any magazine (paper/electronic version) in last 6 months 6,187 91.6% 101


September 01, 2015




Expected Number of Percent of Product/Consumer Behavior Adults/HHs Adults/HHs MPIRestaurants (Adults)

Went to family restaurant/steak house in last 6 months 4,509 66.7% 88Went to family restaurant/steak house: 4+ times a month 1,559 23.1% 80Went to fast food/drive-in restaurant in last 6 months 5,725 84.7% 94Went to fast food/drive-in restaurant 9+ times/mo 2,516 37.2% 92Fast food/drive-in last 6 months: eat in 2,047 30.3% 83Fast food/drive-in last 6 months: home delivery 534 7.9% 101Fast food/drive-in last 6 months: take-out/drive-thru 2,369 35.1% 75Fast food/drive-in last 6 months: take-out/walk-in 1,231 18.2% 93

Television & Electronics (Adults/Households)Own any e-reader/tablet 1,498 22.2% 105Own any portable MP3 player 2,200 32.6% 97HH owns 1 TV 1,307 34.1% 169HH owns 2 TVs 1,077 28.1% 107HH owns 3 TVs 576 15.0% 70HH owns 4+ TVs 323 8.4% 43HH subscribes to cable TV 2,039 53.3% 105HH subscribes to fiber optic 237 6.2% 93HH has satellite dish 547 14.3% 56HH owns DVD/Blu-ray player 2,114 55.2% 89HH owns camcorder 407 10.6% 68HH owns portable GPS navigation device 760 19.8% 72HH purchased video game system in last 12 mos 545 14.2% 154HH owns Internet video device for TV 170 4.4% 102

Travel (Adults)Domestic travel in last 12 months 3,126 46.3% 92Took 3+ domestic non-business trips in last 12 months 664 9.8% 79Spent on domestic vacations in last 12 months: <$1,000 753 11.1% 99Spent on domestic vacations in last 12 months: $1,000-$1,499 334 4.9% 82Spent on domestic vacations in last 12 months: $1,500-$1,999 184 2.7% 77Spent on domestic vacations in last 12 months: $2,000-$2,999 178 2.6% 69Spent on domestic vacations in last 12 months: $3,000+ 331 4.9% 90Domestic travel in the 12 months: used general travel website 513 7.6% 108Foreign travel in last 3 years 2,061 30.5% 128Took 3+ foreign trips by plane in last 3 years 499 7.4% 169Spent on foreign vacations in last 12 months: <$1,000 338 5.0% 119Spent on foreign vacations in last 12 months: $1,000-$2,999 306 4.5% 149Spent on foreign vacations in last 12 months: $3,000+ 394 5.8% 118Foreign travel in last 3 years: used general travel website 472 7.0% 128Nights spent in hotel/motel in last 12 months: any 2,365 35.0% 85Took cruise of more than one day in last 3 years 414 6.1% 70Member of any frequent flyer program 1,305 19.3% 116Member of any hotel rewards program 841 12.4% 88


September 01, 2015


Retail Market Potential4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRing: 1 mile radius Latitude: 25.81377




Bought any men's clothing in last 12 months 9,898 44.7% 93Bought any women's clothing in last 12 months 8,928 40.3% 90Bought clothing for child <13 years in last 6 months 6,729 30.4% 108Bought any shoes in last 12 months 11,264 50.9% 93Bought costume jewelry in last 12 months 3,851 17.4% 87Bought any fine jewelry in last 12 months 4,028 18.2% 94Bought a watch in last 12 months 2,285 10.3% 90

Automobiles (Households)HH owns/leases any vehicle 7,954 71.7% 84HH bought/leased new vehicle last 12 mo 713 6.4% 74



Cameras (Adults)Own digital point & shoot camera 5,271 23.8% 74Own digital single-lens reflex (SLR) camera 1,742 7.9% 91Bought any camera in last 12 months 1,493 6.7% 93Bought memory card for camera in last 12 months 1,036 4.7% 81Printed digital photos in last 12 months 521 2.4% 70

Cell Phones (Adults/Households)Bought cell phone in last 12 months 7,535 34.0% 93Have a smartphone 11,066 50.0% 103Have an iPhone 3,798 17.2% 92Number of cell phones in household: 1 4,204 37.9% 118Number of cell phones in household: 2 4,022 36.3% 98Number of cell phones in household: 3+ 2,196 19.8% 79HH has cell phone only (no landline telephone) 6,000 54.1% 143

Computers (Households)HH owns a computer 7,214 65.1% 85HH owns desktop computer 3,910 35.3% 73HH owns laptop/notebook 4,946 44.6% 87Spent <$500 on most recent home computer 1,303 11.8% 83Spent $500-$999 on most recent home computer"

1,574 14.2% 70Spent $1,000-$1,499 on most recent home computer 925 8.3% 83Spent $1,500-$1,999 on most recent home computer 449 4.1% 88Spent $2,000+ on most recent home computer 389 3.5% 91


September 01, 2015





Shopped at convenience store in last 6 mos 11,414 51.6% 85Bought brewed coffee at convenience store in last 30 days 2,611 11.8% 77Bought cigarettes at convenience store in last 30 days 2,398 10.8% 83Bought gas at convenience store in last 30 days 5,242 23.7% 71Spent at convenience store in last 30 days: <$20 1,937 8.8% 107Spent at convenience store in last 30 days: $20-$39 1,717 7.8% 85Spent at convenience store in last 30 days: $40-$50 1,482 6.7% 87Spent at convenience store in last 30 days: $51-$99 806 3.6% 80Spent at convenience store in last 30 days: $100+ 3,891 17.6% 76

Entertainment (Adults)Attended a movie in last 6 months 12,685 57.3% 95Went to live theater in last 12 months 2,501 11.3% 90Went to a bar/night club in last 12 months 3,366 15.2% 89Dined out in last 12 months 7,493 33.9% 75Gambled at a casino in last 12 months 2,529 11.4% 78Visited a theme park in last 12 months 3,077 13.9% 77Viewed movie (video-on-demand) in last 30 days 3,063 13.8% 89Viewed TV show (video-on-demand) in last 30 days 2,867 13.0% 106Watched any pay-per-view TV in last 12 months 2,348 10.6% 81Downloaded a movie over the Internet in last 30 days 1,761 8.0% 120Downloaded any individual song in last 6 months 4,014 18.1% 88Watched a movie online in the last 30 days 3,413 15.4% 114Watched a TV program online in last 30 days 3,185 14.4% 107Played a video/electronic game (console) in last 12 months 2,186 9.9% 87Played a video/electronic game (portable) in last 12 months 974 4.4% 98

Financial (Adults)Have home mortgage (1st) 4,018 18.2% 57Used ATM/cash machine in last 12 months 9,253 41.8% 86Own any stock 1,191 5.4% 69Own U.S. savings bond 894 4.0% 70Own shares in mutual fund (stock) 1,184 5.3% 71Own shares in mutual fund (bonds) 706 3.2% 65Have interest checking account 4,130 18.7% 65Have non-interest checking account 4,474 20.2% 72Have savings account 8,824 39.9% 74Have 401K retirement savings plan 2,499 11.3% 77Own/used any credit/debit card in last 12 months 13,783 62.3% 84Avg monthly credit card expenditures: <$111 2,280 10.3% 87Avg monthly credit card expenditures: $111-$225 1,121 5.1% 78Avg monthly credit card expenditures: $226-$450 1,091 4.9% 78Avg monthly credit card expenditures: $451-$700 998 4.5% 83Avg monthly credit card expenditures: $701-$1,000 820 3.7% 85Avg monthly credit card expenditures: $1,001+ 1,520 6.9% 75Did banking online in last 12 months 6,011 27.2% 77Did banking on mobile device in last 12 months 2,276 10.3% 99Paid bills online in last 12 months 7,799 35.2% 84


September 01, 2015







Home (Households)Any home improvement in last 12 months 1,782 16.1% 58Used housekeeper/maid/professional HH cleaning service in last 12 months

1,143 10.3% 79Purchased low ticket HH furnishings in last 12 months 1,436 13.0% 83Purchased big ticket HH furnishings in last 12 months 2,107 19.0% 90Purchased bedding/bath goods in last 12 months 5,344 48.2% 90Purchased cooking/serving product in last 12 months 2,477 22.3% 92Bought any small kitchen appliance in last 12 months 2,236 20.2% 91Bought any large kitchen appliance in last 12 months 1,050 9.5% 74

Insurance (Adults/Households)Currently carry life insurance 6,131 27.7% 64Carry medical/hospital/accident insurance 11,077 50.1% 78Carry homeowner insurance 5,551 25.1% 53Carry renter's insurance 2,029 9.2% 124Have auto insurance: 1 vehicle in household covered 3,886 35.1% 112Have auto insurance: 2 vehicles in household covered 2,209 19.9% 71Have auto insurance: 3+ vehicles in household covered 978 8.8% 40

Pets (Households)Household owns any pet 4,389 39.6% 74Household owns any cat 1,630 14.7% 65Household owns any dog 2,954 26.6% 67

Psychographics (Adults)Buying American is important to me 7,750 35.0% 81Usually buy items on credit rather than wait 2,572 11.6% 102Usually buy based on quality - not price 4,081 18.4% 103Price is usually more important than brand name 5,812 26.3% 96Usually use coupons for brands I buy often 3,917 17.7% 94Am interested in how to help the environment 4,840 21.9% 131Usually pay more for environ safe product 3,096 14.0% 111Usually value green products over convenience 2,724 12.3% 121Likely to buy a brand that supports a charity 7,658 34.6% 101

Reading (Adults)Bought digital book in last 12 months 2,354 10.6% 95Bought hardcover book in last 12 months 4,179 18.9% 84Bought paperback book in last 12 month 6,516 29.4% 87Read any daily newspaper (paper version) 4,631 20.9% 74Read any digital newspaper in last 30 days 6,190 28.0% 89Read any magazine (paper/electronic version) in last 6 months 19,498 88.1% 97


September 01, 2015





Went to family restaurant/steak house in last 6 months 14,408 65.1% 86Went to family restaurant/steak house: 4+ times a month 5,399 24.4% 85Went to fast food/drive-in restaurant in last 6 months 18,857 85.2% 94Went to fast food/drive-in restaurant 9+ times/mo 8,351 37.7% 93Fast food/drive-in last 6 months: eat in 6,805 30.7% 85Fast food/drive-in last 6 months: home delivery 1,911 8.6% 110Fast food/drive-in last 6 months: take-out/drive-thru 8,078 36.5% 78Fast food/drive-in last 6 months: take-out/walk-in 3,817 17.2% 88

Television & Electronics (Adults/Households)Own any e-reader/tablet 3,780 17.1% 81Own any portable MP3 player 6,258 28.3% 84HH owns 1 TV 3,135 28.3% 140HH owns 2 TVs 3,088 27.9% 106HH owns 3 TVs 1,840 16.6% 77HH owns 4+ TVs 1,185 10.7% 54HH subscribes to cable TV 5,412 48.8% 96HH subscribes to fiber optic 624 5.6% 84HH has satellite dish 1,702 15.4% 60HH owns DVD/Blu-ray player 5,853 52.8% 85HH owns camcorder 1,168 10.5% 68HH owns portable GPS navigation device 1,891 17.1% 62HH purchased video game system in last 12 mos 1,220 11.0% 119HH owns Internet video device for TV 420 3.8% 87

Travel (Adults)Domestic travel in last 12 months 8,260 37.3% 74Took 3+ domestic non-business trips in last 12 months 1,793 8.1% 65Spent on domestic vacations in last 12 months: <$1,000 2,034 9.2% 82Spent on domestic vacations in last 12 months: $1,000-$1,499 1,055 4.8% 79Spent on domestic vacations in last 12 months: $1,500-$1,999 533 2.4% 68Spent on domestic vacations in last 12 months: $2,000-$2,999 551 2.5% 65Spent on domestic vacations in last 12 months: $3,000+ 800 3.6% 66Domestic travel in the 12 months: used general travel website 1,345 6.1% 86Foreign travel in last 3 years 4,982 22.5% 95Took 3+ foreign trips by plane in last 3 years 1,095 4.9% 113Spent on foreign vacations in last 12 months: <$1,000 880 4.0% 95Spent on foreign vacations in last 12 months: $1,000-$2,999 704 3.2% 105Spent on foreign vacations in last 12 months: $3,000+ 973 4.4% 89Foreign travel in last 3 years: used general travel website 1,196 5.4% 99Nights spent in hotel/motel in last 12 months: any 6,336 28.6% 69Took cruise of more than one day in last 3 years 1,297 5.9% 67Member of any frequent flyer program 2,990 13.5% 81Member of any hotel rewards program 2,185 9.9% 70


September 01, 2015






Bought any men's clothing in last 12 months 18,768 43.2% 90Bought any women's clothing in last 12 months 17,651 40.7% 91Bought clothing for child <13 years in last 6 months 12,204 28.1% 100Bought any shoes in last 12 months 22,152 51.0% 93Bought costume jewelry in last 12 months 7,975 18.4% 92Bought any fine jewelry in last 12 months 8,231 19.0% 98Bought a watch in last 12 months 4,791 11.0% 96

Automobiles (Households)HH owns/leases any vehicle 15,383 69.6% 82HH bought/leased new vehicle last 12 mo 1,486 6.7% 78



Cameras (Adults)Own digital point & shoot camera 9,901 22.8% 71Own digital single-lens reflex (SLR) camera 3,077 7.1% 82Bought any camera in last 12 months 2,850 6.6% 91Bought memory card for camera in last 12 months 1,896 4.4% 76Printed digital photos in last 12 months 1,073 2.5% 73

Cell Phones (Adults/Households)Bought cell phone in last 12 months 15,095 34.8% 95Have a smartphone 21,893 50.4% 104Have an iPhone 7,487 17.2% 92Number of cell phones in household: 1 9,192 41.6% 130Number of cell phones in household: 2 7,353 33.3% 90Number of cell phones in household: 3+ 4,118 18.6% 74HH has cell phone only (no landline telephone) 11,797 53.4% 141

Computers (Households)HH owns a computer 14,611 66.1% 87HH owns desktop computer 8,010 36.3% 75HH owns laptop/notebook 10,100 45.7% 89Spent <$500 on most recent home computer 2,723 12.3% 88Spent $500-$999 on most recent home computer"

3,320 15.0% 74Spent $1,000-$1,499 on most recent home computer 1,952 8.8% 88Spent $1,500-$1,999 on most recent home computer 859 3.9% 84Spent $2,000+ on most recent home computer 701 3.2% 82


September 01, 2015





Shopped at convenience store in last 6 mos 23,331 53.8% 89Bought brewed coffee at convenience store in last 30 days 5,245 12.1% 79Bought cigarettes at convenience store in last 30 days 5,296 12.2% 93Bought gas at convenience store in last 30 days 10,780 24.8% 75Spent at convenience store in last 30 days: <$20 3,860 8.9% 108Spent at convenience store in last 30 days: $20-$39 3,761 8.7% 95Spent at convenience store in last 30 days: $40-$50 2,997 6.9% 90Spent at convenience store in last 30 days: $51-$99 1,805 4.2% 91Spent at convenience store in last 30 days: $100+ 7,518 17.3% 75

Entertainment (Adults)Attended a movie in last 6 months 25,145 57.9% 96Went to live theater in last 12 months 5,202 12.0% 96Went to a bar/night club in last 12 months 7,096 16.3% 96Dined out in last 12 months 14,779 34.1% 76Gambled at a casino in last 12 months 5,019 11.6% 79Visited a theme park in last 12 months 6,334 14.6% 81Viewed movie (video-on-demand) in last 30 days 6,305 14.5% 93Viewed TV show (video-on-demand) in last 30 days 5,679 13.1% 107Watched any pay-per-view TV in last 12 months 4,348 10.0% 76Downloaded a movie over the Internet in last 30 days 3,664 8.4% 128Downloaded any individual song in last 6 months 7,449 17.2% 84Watched a movie online in the last 30 days 6,901 15.9% 117Watched a TV program online in last 30 days 6,512 15.0% 112Played a video/electronic game (console) in last 12 months 4,193 9.7% 85Played a video/electronic game (portable) in last 12 months 2,003 4.6% 103

Financial (Adults)Have home mortgage (1st) 7,728 17.8% 56Used ATM/cash machine in last 12 months 18,493 42.6% 87Own any stock 2,200 5.1% 65Own U.S. savings bond 1,708 3.9% 68Own shares in mutual fund (stock) 2,131 4.9% 65Own shares in mutual fund (bonds) 1,295 3.0% 61Have interest checking account 8,335 19.2% 67Have non-interest checking account 8,988 20.7% 73Have savings account 17,826 41.1% 77Have 401K retirement savings plan 4,782 11.0% 75Own/used any credit/debit card in last 12 months 27,188 62.6% 85Avg monthly credit card expenditures: <$111 4,278 9.9% 83Avg monthly credit card expenditures: $111-$225 2,260 5.2% 80Avg monthly credit card expenditures: $226-$450 2,173 5.0% 79Avg monthly credit card expenditures: $451-$700 1,786 4.1% 76Avg monthly credit card expenditures: $701-$1,000 1,616 3.7% 86Avg monthly credit card expenditures: $1,001+ 2,923 6.7% 73Did banking online in last 12 months 11,981 27.6% 79Did banking on mobile device in last 12 months 4,523 10.4% 100Paid bills online in last 12 months 15,254 35.1% 84


September 01, 2015







Home (Households)Any home improvement in last 12 months 3,304 15.0% 54Used housekeeper/maid/professional HH cleaning service in last 12 months

2,176 9.9% 75Purchased low ticket HH furnishings in last 12 months 3,046 13.8% 88Purchased big ticket HH furnishings in last 12 months 4,216 19.1% 91Purchased bedding/bath goods in last 12 months 10,659 48.3% 91Purchased cooking/serving product in last 12 months 4,964 22.5% 92Bought any small kitchen appliance in last 12 months 4,353 19.7% 88Bought any large kitchen appliance in last 12 months 2,075 9.4% 73

Insurance (Adults/Households)Currently carry life insurance 13,543 31.2% 72Carry medical/hospital/accident insurance 22,685 52.3% 81Carry homeowner insurance 10,887 25.1% 53Carry renter's insurance 4,196 9.7% 131Have auto insurance: 1 vehicle in household covered 8,105 36.7% 117Have auto insurance: 2 vehicles in household covered 3,951 17.9% 64Have auto insurance: 3+ vehicles in household covered 1,908 8.6% 39

Pets (Households)Household owns any pet 8,074 36.6% 69Household owns any cat 2,973 13.5% 59Household owns any dog 5,518 25.0% 63

Psychographics (Adults)Buying American is important to me 14,749 34.0% 79Usually buy items on credit rather than wait 4,804 11.1% 97Usually buy based on quality - not price 7,802 18.0% 100Price is usually more important than brand name 11,466 26.4% 96Usually use coupons for brands I buy often 7,308 16.8% 89Am interested in how to help the environment 9,080 20.9% 125Usually pay more for environ safe product 6,713 15.5% 123Usually value green products over convenience 5,338 12.3% 121Likely to buy a brand that supports a charity 15,077 34.7% 101

Reading (Adults)Bought digital book in last 12 months 4,378 10.1% 91Bought hardcover book in last 12 months 8,174 18.8% 84Bought paperback book in last 12 month 12,554 28.9% 85Read any daily newspaper (paper version) 10,358 23.9% 85Read any digital newspaper in last 30 days 12,779 29.4% 94Read any magazine (paper/electronic version) in last 6 months 38,752 89.3% 98


September 01, 2015





Went to family restaurant/steak house in last 6 months 29,138 67.1% 89Went to family restaurant/steak house: 4+ times a month 11,188 25.8% 90Went to fast food/drive-in restaurant in last 6 months 37,689 86.8% 96Went to fast food/drive-in restaurant 9+ times/mo 17,469 40.2% 99Fast food/drive-in last 6 months: eat in 13,130 30.3% 83Fast food/drive-in last 6 months: home delivery 3,910 9.0% 115Fast food/drive-in last 6 months: take-out/drive-thru 16,616 38.3% 82Fast food/drive-in last 6 months: take-out/walk-in 7,860 18.1% 93

Television & Electronics (Adults/Households)Own any e-reader/tablet 7,461 17.2% 81Own any portable MP3 player 12,703 29.3% 87HH owns 1 TV 6,247 28.3% 140HH owns 2 TVs 5,868 26.6% 101HH owns 3 TVs 3,660 16.6% 77HH owns 4+ TVs 2,503 11.3% 57HH subscribes to cable TV 11,249 50.9% 100HH subscribes to fiber optic 1,195 5.4% 81HH has satellite dish 3,155 14.3% 56HH owns DVD/Blu-ray player 11,813 53.5% 86HH owns camcorder 2,367 10.7% 69HH owns portable GPS navigation device 3,613 16.4% 59HH purchased video game system in last 12 mos 2,252 10.2% 111HH owns Internet video device for TV 900 4.1% 93

Travel (Adults)Domestic travel in last 12 months 16,687 38.4% 77Took 3+ domestic non-business trips in last 12 months 3,702 8.5% 68Spent on domestic vacations in last 12 months: <$1,000 4,067 9.4% 83Spent on domestic vacations in last 12 months: $1,000-$1,499 2,121 4.9% 81Spent on domestic vacations in last 12 months: $1,500-$1,999 1,045 2.4% 68Spent on domestic vacations in last 12 months: $2,000-$2,999 1,070 2.5% 64Spent on domestic vacations in last 12 months: $3,000+ 1,408 3.2% 60Domestic travel in the 12 months: used general travel website 2,597 6.0% 85Foreign travel in last 3 years 9,434 21.7% 91Took 3+ foreign trips by plane in last 3 years 1,896 4.4% 100Spent on foreign vacations in last 12 months: <$1,000 1,686 3.9% 92Spent on foreign vacations in last 12 months: $1,000-$2,999 1,219 2.8% 92Spent on foreign vacations in last 12 months: $3,000+ 1,766 4.1% 83Foreign travel in last 3 years: used general travel website 2,121 4.9% 89Nights spent in hotel/motel in last 12 months: any 13,180 30.4% 74Took cruise of more than one day in last 3 years 2,690 6.2% 71Member of any frequent flyer program 5,857 13.5% 81Member of any hotel rewards program 4,236 9.8% 69


September 01, 2015


Restaurant Market Potential4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRing: 0.5 mile radius Latitude: 25.81377



Expected Number of Product/Consumer Behavior Adults Percent MPI

Went to family restaurant/steak house in last 6 mo 4,509 66.7% 88Went to family restaurant/steak house 4+ times/mo 1,559 23.1% 80Spent at family rest/steak hse last 6 months: <$31 377 5.6% 77Spent at family rest/steak hse last 6 months: $31-50 454 6.7% 79Spent at family rest/steak hse last 6 months: $51-100 850 12.6% 84Spent at family rest/steak hse last 6 months: $101-200 576 8.5% 70Spent at family rest/steak hse last 6 months: $201-300 362 5.4% 91Spent at family rest/steak hse last 6 months: $301+ 421 6.2% 84Family restaurant/steak house last 6 months: breakfast 817 12.1% 96Family restaurant/steak house last 6 months: lunch 1,243 18.4% 95Family restaurant/steak house last 6 months: dinner 2,498 37.0% 77Family restaurant/steak house last 6 months: snack 146 2.2% 123Family restaurant/steak house last 6 months: weekday 1,607 23.8% 75Family restaurant/steak house last 6 months: weekend 2,443 36.2% 85Fam rest/steak hse/6 months: Applebee`s 1,064 15.7% 63Fam rest/steak hse/6 months: Bob Evans Farms 89 1.3% 35Fam rest/steak hse/6 months: Buffalo Wild Wings 337 5.0% 65Fam rest/steak hse/6 months: California Pizza Kitchen 299 4.4% 136Fam rest/steak hse/6 months: Carrabba`s Italian Grill 140 2.1% 68Fam rest/steak hse/6 months: The Cheesecake Factory 501 7.4% 109Fam rest/steak hse/6 months: Chili`s Grill & Bar 769 11.4% 93Fam rest/steak hse/6 months: CiCi`s Pizza 224 3.3% 75Fam rest/steak hse/6 months: Cracker Barrel 326 4.8% 50Fam rest/steak hse/6 months: Denny`s 710 10.5% 111Fam rest/steak hse/6 months: Golden Corral 353 5.2% 61Fam rest/steak hse/6 months: IHOP 883 13.1% 112Fam rest/steak hse/6 months: Logan`s Roadhouse 127 1.9% 53Fam rest/steak hse/6 months: LongHorn Steakhouse 165 2.4% 57Fam rest/steak hse/6 months: Old Country Buffet 115 1.7% 81Fam rest/steak hse/6 months: Olive Garden 849 12.6% 72Fam rest/steak hse/6 months: Outback Steakhouse 450 6.7% 67Fam rest/steak hse/6 months: Red Lobster 617 9.1% 72Fam rest/steak hse/6 months: Red Robin 345 5.1% 85Fam rest/steak hse/6 months: Ruby Tuesday 366 5.4% 79Fam rest/steak hse/6 months: Texas Roadhouse 274 4.1% 55Fam rest/steak hse/6 months: T.G.I. Friday`s 534 7.9% 99Fam rest/steak hse/6 months: Waffle House 214 3.2% 58Went to fast food/drive-in restaurant in last 6 mo 5,725 84.7% 94Went to fast food/drive-in restaurant 9+ times/mo 2,516 37.2% 92Spent at fast food/drive-in last 6 months: <$11 260 3.8% 88Spent at fast food/drive-in last 6 months: $11-$20 424 6.3% 82Spent at fast food/drive-in last 6 months: $21-$40 700 10.4% 86Spent at fast food/drive-in last 6 months: $41-$50 414 6.1% 81Spent at fast food/drive-in last 6 months: $51-$100 855 12.7% 76Spent at fast food/drive-in last 6 months: $101-$200 752 11.1% 93Spent at fast food/drive-in last 6 months: $201+ 732 10.8% 89

Data Note: An MPI (Market Potential Index) measures the relative likelihood of the adults in the specified trade area to exhibit certain consumer behavior or purchasing patterns compared to the U.S. An MPI of 100 represents the U.S. average.Source: These data are based upon national propensities to use various products and services, applied to local demographic composition. Usage data were collected by GfK MRI in a nationally representative survey of U.S. households. Esri forecasts for 2015 and 2020.

September 01, 2015




Expected Number ofProduct/Consumer Behavior Adults Percent MPI

Fast food/drive-in last 6 months: eat in 2,047 30.3% 83Fast food/drive-in last 6 months: home delivery 534 7.9% 101Fast food/drive-in last 6 months: take-out/drive-thru 2,369 35.1% 75Fast food/drive-in last 6 months: take-out/walk-in 1,231 18.2% 93Fast food/drive-in last 6 months: breakfast 1,781 26.4% 80Fast food/drive-in last 6 months: lunch 2,583 38.2% 76Fast food/drive-in last 6 months: dinner 2,395 35.4% 80Fast food/drive-in last 6 months: snack 849 12.6% 100Fast food/drive-in last 6 months: weekday 3,208 47.5% 80Fast food/drive-in last 6 months: weekend 2,618 38.7% 85Fast food/drive-in last 6 months: A & W 111 1.6% 50Fast food/drive-in last 6 months: Arby`s 588 8.7% 52Fast food/drive-in last 6 months: Baskin-Robbins 349 5.2% 148Fast food/drive-in last 6 months: Boston Market 361 5.3% 156Fast food/drive-in last 6 months: Burger King 1,700 25.2% 80Fast food/drive-in last 6 months: Captain D`s 133 2.0% 57Fast food/drive-in last 6 months: Carl`s Jr. 459 6.8% 116Fast food/drive-in last 6 months: Checkers 132 2.0% 67Fast food/drive-in last 6 months: Chick-fil-A 602 8.9% 54Fast food/drive-in last 6 months: Chipotle Mex. Grill 814 12.0% 129Fast food/drive-in last 6 months: Chuck E. Cheese`s 238 3.5% 98Fast food/drive-in last 6 months: Church`s Fr. Chicken 188 2.8% 77Fast food/drive-in last 6 months: Cold Stone Creamery 246 3.6% 108Fast food/drive-in last 6 months: Dairy Queen 543 8.0% 58Fast food/drive-in last 6 months: Del Taco 319 4.7% 135Fast food/drive-in last 6 months: Domino`s Pizza 859 12.7% 108Fast food/drive-in last 6 months: Dunkin` Donuts 1,078 16.0% 141Fast food/drive-in last 6 months: Hardee`s 143 2.1% 35Fast food/drive-in last 6 months: Jack in the Box 683 10.1% 118Fast food/drive-in last 6 months: KFC 1,261 18.7% 80Fast food/drive-in last 6 months: Krispy Kreme 194 2.9% 68Fast food/drive-in last 6 months: Little Caesars 614 9.1% 83Fast food/drive-in last 6 months: Long John Silver`s 193 2.9% 51Fast food/drive-in last 6 months: McDonald`s 3,240 48.0% 86Fast food/drive-in last 6 months: Panera Bread 637 9.4% 90Fast food/drive-in last 6 months: Papa John`s 553 8.2% 87Fast food/drive-in last 6 months: Papa Murphy`s 150 2.2% 53Fast food/drive-in last 6 months: Pizza Hut 889 13.2% 65Fast food/drive-in last 6 months: Popeyes Chicken 470 7.0% 90Fast food/drive-in last 6 months: Quiznos 307 4.5% 110Fast food/drive-in last 6 months: Sonic Drive-In 352 5.2% 50Fast food/drive-in last 6 months: Starbucks 1,270 18.8% 128Fast food/drive-in last 6 months: Steak `n Shake 207 3.1% 64Fast food/drive-in last 6 months: Subway 2,119 31.4% 94Fast food/drive-in last 6 months: Taco Bell 1,783 26.4% 83Fast food/drive-in last 6 months: Wendy`s 1,426 21.1% 74Fast food/drive-in last 6 months: Whataburger 239 3.5% 94Fast food/drive-in last 6 months: White Castle 232 3.4% 103


September 01, 2015




Went to fine dining restaurant last month 703 10.4% 89Went to fine dining restaurant 3+ times last month 238 3.5% 108Spent at fine dining rest in last 6 months: <$51 129 1.9% 96Spent at fine dining rest in last 6 months: $51-$100 242 3.6% 96Spent at fine dining rest in last 6 months: $101-$200 237 3.5% 97Spent at fine dining rest in last 6 months: $201+ 333 4.9% 118


September 01, 2015


Restaurant Market Potential4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRing: 1 mile radius Latitude: 25.81377




Went to family restaurant/steak house in last 6 mo 14,408 65.1% 86Went to family restaurant/steak house 4+ times/mo 5,399 24.4% 85Spent at family rest/steak hse last 6 months: <$31 1,532 6.9% 96Spent at family rest/steak hse last 6 months: $31-50 1,490 6.7% 79Spent at family rest/steak hse last 6 months: $51-100 2,706 12.2% 81Spent at family rest/steak hse last 6 months: $101-200 1,962 8.9% 73Spent at family rest/steak hse last 6 months: $201-300 1,136 5.1% 87Spent at family rest/steak hse last 6 months: $301+ 1,261 5.7% 77Family restaurant/steak house last 6 months: breakfast 2,388 10.8% 86Family restaurant/steak house last 6 months: lunch 3,988 18.0% 93Family restaurant/steak house last 6 months: dinner 7,797 35.2% 74Family restaurant/steak house last 6 months: snack 503 2.3% 130Family restaurant/steak house last 6 months: weekday 5,216 23.6% 74Family restaurant/steak house last 6 months: weekend 7,677 34.7% 82Fam rest/steak hse/6 months: Applebee`s 3,662 16.5% 67Fam rest/steak hse/6 months: Bob Evans Farms 372 1.7% 45Fam rest/steak hse/6 months: Buffalo Wild Wings 1,291 5.8% 76Fam rest/steak hse/6 months: California Pizza Kitchen 839 3.8% 117Fam rest/steak hse/6 months: Carrabba`s Italian Grill 416 1.9% 61Fam rest/steak hse/6 months: The Cheesecake Factory 1,366 6.2% 90Fam rest/steak hse/6 months: Chili`s Grill & Bar 2,488 11.2% 92Fam rest/steak hse/6 months: CiCi`s Pizza 1,210 5.5% 124Fam rest/steak hse/6 months: Cracker Barrel 1,234 5.6% 57Fam rest/steak hse/6 months: Denny`s 2,441 11.0% 116Fam rest/steak hse/6 months: Golden Corral 1,823 8.2% 96Fam rest/steak hse/6 months: IHOP 2,551 11.5% 99Fam rest/steak hse/6 months: Logan`s Roadhouse 507 2.3% 64Fam rest/steak hse/6 months: LongHorn Steakhouse 536 2.4% 56Fam rest/steak hse/6 months: Old Country Buffet 451 2.0% 97Fam rest/steak hse/6 months: Olive Garden 2,825 12.8% 73Fam rest/steak hse/6 months: Outback Steakhouse 1,340 6.1% 61Fam rest/steak hse/6 months: Red Lobster 2,068 9.3% 74Fam rest/steak hse/6 months: Red Robin 1,172 5.3% 89Fam rest/steak hse/6 months: Ruby Tuesday 1,038 4.7% 68Fam rest/steak hse/6 months: Texas Roadhouse 1,003 4.5% 61Fam rest/steak hse/6 months: T.G.I. Friday`s 1,740 7.9% 98Fam rest/steak hse/6 months: Waffle House 1,015 4.6% 84Went to fast food/drive-in restaurant in last 6 mo 18,857 85.2% 94Went to fast food/drive-in restaurant 9+ times/mo 8,351 37.7% 93Spent at fast food/drive-in last 6 months: <$11 888 4.0% 92Spent at fast food/drive-in last 6 months: $11-$20 1,593 7.2% 94Spent at fast food/drive-in last 6 months: $21-$40 2,469 11.2% 92Spent at fast food/drive-in last 6 months: $41-$50 1,316 5.9% 79Spent at fast food/drive-in last 6 months: $51-$100 3,161 14.3% 86Spent at fast food/drive-in last 6 months: $101-$200 2,209 10.0% 83Spent at fast food/drive-in last 6 months: $201+ 2,211 10.0% 82


September 01, 2015





Fast food/drive-in last 6 months: eat in 6,805 30.7% 85Fast food/drive-in last 6 months: home delivery 1,911 8.6% 110Fast food/drive-in last 6 months: take-out/drive-thru 8,078 36.5% 78Fast food/drive-in last 6 months: take-out/walk-in 3,817 17.2% 88Fast food/drive-in last 6 months: breakfast 5,740 25.9% 78Fast food/drive-in last 6 months: lunch 9,031 40.8% 81Fast food/drive-in last 6 months: dinner 7,883 35.6% 80Fast food/drive-in last 6 months: snack 2,421 10.9% 87Fast food/drive-in last 6 months: weekday 10,553 47.7% 80Fast food/drive-in last 6 months: weekend 8,730 39.4% 86Fast food/drive-in last 6 months: A & W 418 1.9% 58Fast food/drive-in last 6 months: Arby`s 2,268 10.2% 61Fast food/drive-in last 6 months: Baskin-Robbins 1,034 4.7% 134Fast food/drive-in last 6 months: Boston Market 1,014 4.6% 133Fast food/drive-in last 6 months: Burger King 6,078 27.5% 87Fast food/drive-in last 6 months: Captain D`s 628 2.8% 83Fast food/drive-in last 6 months: Carl`s Jr. 1,455 6.6% 112Fast food/drive-in last 6 months: Checkers 722 3.3% 111Fast food/drive-in last 6 months: Chick-fil-A 2,483 11.2% 68Fast food/drive-in last 6 months: Chipotle Mex. Grill 2,081 9.4% 101Fast food/drive-in last 6 months: Chuck E. Cheese`s 1,060 4.8% 133Fast food/drive-in last 6 months: Church`s Fr. Chicken 1,187 5.4% 149Fast food/drive-in last 6 months: Cold Stone Creamery 803 3.6% 107Fast food/drive-in last 6 months: Dairy Queen 1,876 8.5% 61Fast food/drive-in last 6 months: Del Taco 1,183 5.3% 153Fast food/drive-in last 6 months: Domino`s Pizza 2,809 12.7% 108Fast food/drive-in last 6 months: Dunkin` Donuts 2,505 11.3% 100Fast food/drive-in last 6 months: Hardee`s 568 2.6% 43Fast food/drive-in last 6 months: Jack in the Box 2,704 12.2% 142Fast food/drive-in last 6 months: KFC 4,580 20.7% 89Fast food/drive-in last 6 months: Krispy Kreme 838 3.8% 90Fast food/drive-in last 6 months: Little Caesars 2,640 11.9% 109Fast food/drive-in last 6 months: Long John Silver`s 767 3.5% 62Fast food/drive-in last 6 months: McDonald`s 10,939 49.4% 89Fast food/drive-in last 6 months: Panera Bread 1,773 8.0% 76Fast food/drive-in last 6 months: Papa John`s 1,803 8.1% 87Fast food/drive-in last 6 months: Papa Murphy`s 523 2.4% 57Fast food/drive-in last 6 months: Pizza Hut 3,944 17.8% 89Fast food/drive-in last 6 months: Popeyes Chicken 1,988 9.0% 116Fast food/drive-in last 6 months: Quiznos 986 4.5% 108Fast food/drive-in last 6 months: Sonic Drive-In 1,488 6.7% 65Fast food/drive-in last 6 months: Starbucks 3,337 15.1% 103Fast food/drive-in last 6 months: Steak `n Shake 788 3.6% 74Fast food/drive-in last 6 months: Subway 6,402 28.9% 87Fast food/drive-in last 6 months: Taco Bell 6,381 28.8% 91Fast food/drive-in last 6 months: Wendy`s 4,883 22.1% 77Fast food/drive-in last 6 months: Whataburger 1,110 5.0% 133Fast food/drive-in last 6 months: White Castle 806 3.6% 109


September 01, 2015




Went to fine dining restaurant last month 1,956 8.8% 76Went to fine dining restaurant 3+ times last month 610 2.8% 85Spent at fine dining rest in last 6 months: <$51 406 1.8% 92Spent at fine dining rest in last 6 months: $51-$100 677 3.1% 82Spent at fine dining rest in last 6 months: $101-$200 679 3.1% 84Spent at fine dining rest in last 6 months: $201+ 846 3.8% 91


September 01, 2015






Went to family restaurant/steak house in last 6 mo 29,138 67.1% 89Went to family restaurant/steak house 4+ times/mo 11,188 25.8% 90Spent at family rest/steak hse last 6 months: <$31 3,172 7.3% 101Spent at family rest/steak hse last 6 months: $31-50 3,024 7.0% 82Spent at family rest/steak hse last 6 months: $51-100 5,553 12.8% 85Spent at family rest/steak hse last 6 months: $101-200 3,736 8.6% 71Spent at family rest/steak hse last 6 months: $201-300 2,135 4.9% 83Spent at family rest/steak hse last 6 months: $301+ 2,315 5.3% 72Family restaurant/steak house last 6 months: breakfast 4,635 10.7% 85Family restaurant/steak house last 6 months: lunch 7,580 17.5% 90Family restaurant/steak house last 6 months: dinner 15,682 36.1% 76Family restaurant/steak house last 6 months: snack 925 2.1% 121Family restaurant/steak house last 6 months: weekday 10,474 24.1% 76Family restaurant/steak house last 6 months: weekend 15,291 35.2% 83Fam rest/steak hse/6 months: Applebee`s 8,105 18.7% 75Fam rest/steak hse/6 months: Bob Evans Farms 807 1.9% 50Fam rest/steak hse/6 months: Buffalo Wild Wings 2,780 6.4% 84Fam rest/steak hse/6 months: California Pizza Kitchen 1,525 3.5% 108Fam rest/steak hse/6 months: Carrabba`s Italian Grill 774 1.8% 58Fam rest/steak hse/6 months: The Cheesecake Factory 2,629 6.1% 89Fam rest/steak hse/6 months: Chili`s Grill & Bar 4,666 10.8% 88Fam rest/steak hse/6 months: CiCi`s Pizza 2,397 5.5% 125Fam rest/steak hse/6 months: Cracker Barrel 2,367 5.5% 56Fam rest/steak hse/6 months: Denny`s 4,507 10.4% 109Fam rest/steak hse/6 months: Golden Corral 3,865 8.9% 104Fam rest/steak hse/6 months: IHOP 5,196 12.0% 103Fam rest/steak hse/6 months: Logan`s Roadhouse 1,056 2.4% 68Fam rest/steak hse/6 months: LongHorn Steakhouse 1,108 2.6% 59Fam rest/steak hse/6 months: Old Country Buffet 976 2.2% 107Fam rest/steak hse/6 months: Olive Garden 5,556 12.8% 73Fam rest/steak hse/6 months: Outback Steakhouse 2,706 6.2% 63Fam rest/steak hse/6 months: Red Lobster 4,782 11.0% 87Fam rest/steak hse/6 months: Red Robin 2,175 5.0% 84Fam rest/steak hse/6 months: Ruby Tuesday 2,119 4.9% 71Fam rest/steak hse/6 months: Texas Roadhouse 2,001 4.6% 62Fam rest/steak hse/6 months: T.G.I. Friday`s 3,596 8.3% 103Fam rest/steak hse/6 months: Waffle House 2,407 5.5% 102Went to fast food/drive-in restaurant in last 6 mo 37,689 86.8% 96Went to fast food/drive-in restaurant 9+ times/mo 17,469 40.2% 99Spent at fast food/drive-in last 6 months: <$11 1,752 4.0% 93Spent at fast food/drive-in last 6 months: $11-$20 3,298 7.6% 99Spent at fast food/drive-in last 6 months: $21-$40 5,214 12.0% 99Spent at fast food/drive-in last 6 months: $41-$50 2,811 6.5% 86Spent at fast food/drive-in last 6 months: $51-$100 6,425 14.8% 89Spent at fast food/drive-in last 6 months: $101-$200 4,189 9.7% 80Spent at fast food/drive-in last 6 months: $201+ 4,121 9.5% 78


September 01, 2015





Fast food/drive-in last 6 months: eat in 13,130 30.3% 83Fast food/drive-in last 6 months: home delivery 3,910 9.0% 115Fast food/drive-in last 6 months: take-out/drive-thru 16,616 38.3% 82Fast food/drive-in last 6 months: take-out/walk-in 7,860 18.1% 93Fast food/drive-in last 6 months: breakfast 11,923 27.5% 83Fast food/drive-in last 6 months: lunch 18,142 41.8% 83Fast food/drive-in last 6 months: dinner 16,150 37.2% 84Fast food/drive-in last 6 months: snack 4,925 11.3% 90Fast food/drive-in last 6 months: weekday 21,395 49.3% 83Fast food/drive-in last 6 months: weekend 17,628 40.6% 89Fast food/drive-in last 6 months: A & W 833 1.9% 59Fast food/drive-in last 6 months: Arby`s 4,645 10.7% 64Fast food/drive-in last 6 months: Baskin-Robbins 1,789 4.1% 118Fast food/drive-in last 6 months: Boston Market 2,007 4.6% 135Fast food/drive-in last 6 months: Burger King 12,683 29.2% 92Fast food/drive-in last 6 months: Captain D`s 1,557 3.6% 105Fast food/drive-in last 6 months: Carl`s Jr. 2,538 5.8% 100Fast food/drive-in last 6 months: Checkers 1,818 4.2% 143Fast food/drive-in last 6 months: Chick-fil-A 5,850 13.5% 82Fast food/drive-in last 6 months: Chipotle Mex. Grill 4,360 10.0% 107Fast food/drive-in last 6 months: Chuck E. Cheese`s 2,177 5.0% 140Fast food/drive-in last 6 months: Church`s Fr. Chicken 3,245 7.5% 208Fast food/drive-in last 6 months: Cold Stone Creamery 1,398 3.2% 95Fast food/drive-in last 6 months: Dairy Queen 3,720 8.6% 62Fast food/drive-in last 6 months: Del Taco 2,112 4.9% 139Fast food/drive-in last 6 months: Domino`s Pizza 5,450 12.6% 106Fast food/drive-in last 6 months: Dunkin` Donuts 4,756 11.0% 97Fast food/drive-in last 6 months: Hardee`s 1,277 2.9% 49Fast food/drive-in last 6 months: Jack in the Box 4,867 11.2% 131Fast food/drive-in last 6 months: KFC 9,778 22.5% 97Fast food/drive-in last 6 months: Krispy Kreme 1,896 4.4% 104Fast food/drive-in last 6 months: Little Caesars 4,918 11.3% 103Fast food/drive-in last 6 months: Long John Silver`s 1,593 3.7% 65Fast food/drive-in last 6 months: McDonald`s 22,533 51.9% 93Fast food/drive-in last 6 months: Panera Bread 3,217 7.4% 71Fast food/drive-in last 6 months: Papa John`s 3,814 8.8% 94Fast food/drive-in last 6 months: Papa Murphy`s 911 2.1% 50Fast food/drive-in last 6 months: Pizza Hut 7,888 18.2% 90Fast food/drive-in last 6 months: Popeyes Chicken 5,220 12.0% 155Fast food/drive-in last 6 months: Quiznos 2,015 4.6% 112Fast food/drive-in last 6 months: Sonic Drive-In 3,002 6.9% 67Fast food/drive-in last 6 months: Starbucks 6,542 15.1% 103Fast food/drive-in last 6 months: Steak `n Shake 1,590 3.7% 76Fast food/drive-in last 6 months: Subway 12,989 29.9% 89Fast food/drive-in last 6 months: Taco Bell 12,760 29.4% 93Fast food/drive-in last 6 months: Wendy`s 10,821 24.9% 87Fast food/drive-in last 6 months: Whataburger 1,813 4.2% 110Fast food/drive-in last 6 months: White Castle 1,913 4.4% 132


September 01, 2015




Went to fine dining restaurant last month 4,148 9.6% 82Went to fine dining restaurant 3+ times last month 1,318 3.0% 93Spent at fine dining rest in last 6 months: <$51 851 2.0% 98Spent at fine dining rest in last 6 months: $51-$100 1,482 3.4% 92Spent at fine dining rest in last 6 months: $101-$200 1,372 3.2% 87Spent at fine dining rest in last 6 months: $201+ 1,577 3.6% 87


September 01, 2015


Business Summary4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRings: 0.5, 1, 1.5 mile radii Latitude: 25.81377


Data for all businesses in area 0.5 miles 1 mile 1.5 milesTotal Businesses: 973 1,909 3,205Total Employees: 12,127 21,317 29,825Total Residential Population: 8,004 27,474 54,051Employee/Residential Population Ratio: 1.52:1 0.78:1 0.55:1

Employees Employees Employeesby SIC Codes Number Percent Number Percent Number Percent Number Percent Number Percent Number PercentAgriculture & Mining 8 0.8% 34 0.3% 13 0.7% 51 0.2% 19 0.6% 78 0.3%Construction 45 4.6% 288 2.4% 84 4.4% 636 3.0% 135 4.2% 868 2.9%Manufacturing 26 2.7% 3,144 25.9% 52 2.7% 4,024 18.9% 95 3.0% 4,440 14.9%Transportation 21 2.2% 555 4.6% 37 1.9% 672 3.2% 67 2.1% 854 2.9%Communication 8 0.8% 40 0.3% 14 0.7% 69 0.3% 26 0.8% 146 0.5%Utility 1 0.1% 1 0.0% 1 0.1% 2 0.0% 4 0.1% 16 0.1%Wholesale Trade 43 4.4% 225 1.9% 88 4.6% 503 2.4% 182 5.7% 968 3.2%

Retail Trade Summary 292 30.0% 2,893 23.9% 555 29.1% 5,055 23.7% 929 29.0% 7,896 26.5%Home Improvement 5 0.5% 25 0.2% 16 0.8% 57 0.3% 29 0.9% 109 0.4%General Merchandise Stores 8 0.8% 254 2.1% 19 1.0% 345 1.6% 32 1.0% 436 1.5%Food Stores 14 1.4% 208 1.7% 34 1.8% 332 1.6% 83 2.6% 799 2.7%Auto Dealers, Gas Stations, Auto Aftermarket 12 1.2% 367 3.0% 33 1.7% 928 4.4% 64 2.0% 1,679 5.6%Apparel & Accessory Stores 27 2.8% 125 1.0% 45 2.4% 197 0.9% 106 3.3% 422 1.4%Furniture & Home Furnishings 69 7.1% 541 4.5% 101 5.3% 694 3.3% 136 4.2% 824 2.8%Eating & Drinking Places 84 8.6% 999 8.2% 158 8.3% 1,693 7.9% 236 7.4% 2,424 8.1%Miscellaneous Retail 73 7.5% 374 3.1% 150 7.9% 809 3.8% 244 7.6% 1,203 4.0%

Finance, Insurance, Real Estate Summary 97 10.0% 1,592 13.1% 197 10.3% 2,244 10.5% 315 9.8% 2,773 9.3%Banks, Savings & Lending Institutions 21 2.2% 66 0.5% 43 2.3% 111 0.5% 61 1.9% 167 0.6%Securities Brokers 19 2.0% 299 2.5% 34 1.8% 381 1.8% 45 1.4% 415 1.4%Insurance Carriers & Agents 3 0.3% 8 0.1% 9 0.5% 26 0.1% 18 0.6% 53 0.2%Real Estate, Holding, Other Investment Offices 54 5.5% 1,218 10.0% 111 5.8% 1,726 8.1% 191 6.0% 2,138 7.2%

Services Summary 355 36.5% 3,294 27.2% 715 37.5% 7,929 37.2% 1,179 36.8% 11,205 37.6%Hotels & Lodging 5 0.5% 66 0.5% 10 0.5% 124 0.6% 18 0.6% 154 0.5%Automotive Services 8 0.8% 44 0.4% 27 1.4% 151 0.7% 77 2.4% 330 1.1%Motion Pictures & Amusements 32 3.3% 239 2.0% 58 3.0% 332 1.6% 96 3.0% 502 1.7%Health Services 39 4.0% 619 5.1% 68 3.6% 1,830 8.6% 95 3.0% 2,059 6.9%Legal Services 35 3.6% 199 1.6% 53 2.8% 306 1.4% 70 2.2% 368 1.2%Education Institutions & Libraries 9 0.9% 258 2.1% 25 1.3% 667 3.1% 49 1.5% 1,478 5.0%Other Services 229 23.5% 1,870 15.4% 475 24.9% 4,518 21.2% 774 24.1% 6,314 21.2%

Government 3 0.3% 15 0.1% 7 0.4% 29 0.1% 19 0.6% 402 1.3%

Unclassified Establishments 74 7.6% 47 0.4% 145 7.6% 104 0.5% 236 7.4% 179 0.6%

Totals 973 100.0% 12,127 100.0% 1,909 100.0% 21,317 100.0% 3,205 100.0% 29,825 100.0%Source: Copyright 2015 Infogroup, Inc. All rights reserved. Esri Total Residential Population forecasts for 2015.

September 01, 2015


Business Summary4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRings: 0.5, 1, 1.5 mile radii Latitude: 25.81377


Businesses Employees Businesses Employees Businesses Employeesby NAICS Codes Number Percent Number Percent Number Percent Number Percent Number Percent Number PercentAgriculture, Forestry, Fishing & Hunting 1 0.1% 2 0.0% 1 0.1% 3 0.0% 1 0.0% 5 0.0%Mining 1 0.1% 3 0.0% 2 0.1% 6 0.0% 3 0.1% 9 0.0%Utilities 1 0.1% 1 0.0% 1 0.1% 1 0.0% 2 0.1% 9 0.0%Construction 51 5.2% 316 2.6% 95 5.0% 683 3.2% 151 4.7% 986 3.3%Manufacturing 27 2.8% 3,039 25.1% 52 2.7% 3,902 18.3% 101 3.2% 4,342 14.6%Wholesale Trade 40 4.1% 203 1.7% 83 4.3% 440 2.1% 173 5.4% 884 3.0%Retail Trade 199 20.5% 1,852 15.3% 380 19.9% 3,306 15.5% 663 20.7% 5,384 18.1%

Motor Vehicle & Parts Dealers 8 0.8% 338 2.8% 22 1.2% 872 4.1% 46 1.4% 1,596 5.4%Furniture & Home Furnishings Stores 57 5.9% 497 4.1% 79 4.1% 592 2.8% 97 3.0% 656 2.2%Electronics & Appliance Stores 8 0.8% 37 0.3% 16 0.8% 73 0.3% 25 0.8% 113 0.4%Bldg Material & Garden Equipment & Supplies Dealers 5 0.5% 25 0.2% 16 0.8% 86 0.4% 30 0.9% 149 0.5%Food & Beverage Stores 13 1.3% 198 1.6% 30 1.6% 310 1.5% 77 2.4% 757 2.5%Health & Personal Care Stores 9 0.9% 40 0.3% 20 1.0% 151 0.7% 36 1.1% 254 0.9%Gasoline Stations 4 0.4% 29 0.2% 11 0.6% 56 0.3% 18 0.6% 83 0.3%Clothing & Clothing Accessories Stores 34 3.5% 182 1.5% 54 2.8% 257 1.2% 116 3.6% 490 1.6%Sport Goods, Hobby, Book, & Music Stores 5 0.5% 76 0.6% 11 0.6% 112 0.5% 18 0.6% 124 0.4%General Merchandise Stores 8 0.8% 254 2.1% 19 1.0% 345 1.6% 32 1.0% 436 1.5%Miscellaneous Store Retailers 40 4.1% 149 1.2% 90 4.7% 412 1.9% 152 4.7% 675 2.3%Nonstore Retailers 7 0.7% 27 0.2% 12 0.6% 38 0.2% 15 0.5% 51 0.2%

Transportation & Warehousing 17 1.7% 508 4.2% 29 1.5% 565 2.7% 54 1.7% 731 2.5%Information 25 2.6% 311 2.6% 50 2.6% 438 2.1% 84 2.6% 604 2.0%Finance & Insurance 47 4.8% 386 3.2% 94 4.9% 543 2.5% 139 4.3% 673 2.3%

Central Bank/Credit Intermediation & Related Activities 21 2.2% 66 0.5% 45 2.4% 116 0.5% 68 2.1% 178 0.6%Securities, Commodity Contracts & Other Financial Investments & Other Related Activities

23 2.4% 311 2.6% 40 2.1% 401 1.9% 53 1.7% 442 1.5%Insurance Carriers & Related Activities; Funds, Trusts & Other Financial Vehicles

3 0.3% 8 0.1% 9 0.5% 26 0.1% 18 0.6% 53 0.2%Real Estate, Rental & Leasing 53 5.4% 1,200 9.9% 110 5.8% 1,740 8.2% 193 6.0% 2,144 7.2%Professional, Scientific & Tech Services 147 15.1% 920 7.6% 256 13.4% 1,738 8.2% 388 12.1% 2,280 7.6%

Legal Services 36 3.7% 202 1.7% 56 2.9% 315 1.5% 74 2.3% 381 1.3%Management of Companies & Enterprises 1 0.1% 10 0.1% 2 0.1% 12 0.1% 4 0.1% 17 0.1%Administrative & Support & Waste Management & Remediation Services

31 3.2% 182 1.5% 60 3.1% 367 1.7% 109 3.4% 744 2.5%Educational Services 12 1.2% 270 2.2% 32 1.7% 688 3.2% 60 1.9% 1,516 5.1%Health Care & Social Assistance 54 5.5% 970 8.0% 110 5.8% 3,452 16.2% 162 5.1% 4,056 13.6%Arts, Entertainment & Recreation 25 2.6% 113 0.9% 44 2.3% 194 0.9% 77 2.4% 384 1.3%Accommodation & Food Services 90 9.2% 1,075 8.9% 169 8.9% 1,831 8.6% 255 8.0% 2,592 8.7%

Accommodation 5 0.5% 66 0.5% 10 0.5% 124 0.6% 18 0.6% 154 0.5%Food Services & Drinking Places 85 8.7% 1,009 8.3% 160 8.4% 1,707 8.0% 238 7.4% 2,438 8.2%

Other Services (except Public Administration) 74 7.6% 703 5.8% 186 9.7% 1,274 6.0% 327 10.2% 1,884 6.3%Automotive Repair & Maintenance 5 0.5% 32 0.3% 20 1.0% 100 0.5% 61 1.9% 243 0.8%

Public Administration 3 0.3% 15 0.1% 7 0.4% 29 0.1% 19 0.6% 402 1.3%

Unclassified Establishments 75 7.7% 49 0.4% 145 7.6% 106 0.5% 237 7.4% 181 0.6%

Total 973 100.0% 12,127 100.0% 1,909 100.0% 21,317 100.0% 3,205 100.0% 29,825 100.0%Source: Copyright 2015 Infogroup, Inc. All rights reserved. Esri Total Residential Population forecasts for 2015.

September 01, 2015


Business Locations4005 NE 2nd Ave, Miami, Florida, 33137 Prepared by EsriRings: 0.5, 1, 1.5 mile radii Latitude: 25.81377


2010 Residential Population: 48,6472015 Residential Population: 54,0512020 Residential Population: 59,489Annual Population Growth 2015 - 2020 1.94%

SICCode Business Name Franchise

Distance FromSite in Miles Employees Sales

50210000 UZCA WORLD CORP 0.01 NW 3 $290,0004025 Ne 2nd AveMiami, FL 33137

82990200 FLORIDA CTR FOR LITERARY ARTS 0.02 SE 15 $1,540,169401 Ne 2nd Ave Rm 4102Miami, FL 33132

82110305 DESIGN & ARCHITECTURE SCHOOL 0.02 SE 55 $4,331,2534001 Ne 2nd AveMiami, FL 33137

99992222 BILLIONAIRE MIAMI LLC 0.03 SW 0 $04000 Ne 2nd AveMiami, FL 33137

99992222 LARRY'S AC INSTALL 0.03 SW 0 $04000 Ne 2nd AveMiami, FL 33137

58120101 S R A MARTINEZ RESTAURANT 0.03 SW 0 $04000 Ne 2nd AveMiami, FL 33137

57190101 JALAN JALAN COLLECTION, INC. 0.04 SW 10 $990,0003921 Ne 2nd AveMiami, FL 33137

56210000 CELINE 0.04 SW 5 $550,000191 Ne 40th St Ste 101Miami, FL 33137

65310000 DACRA DESIGN 0.04 SW 5 $370,000191 Ne 40th StMiami, FL 33137

07810203 ENEA 0.04 SW 4 $140,000191 Ne 40th StMiami, FL 33137

73891800 ORNARE 0.04 NW 4 $290,0004040 Ne 2nd Ave Ste 103Miami, FL 33137

87420000 THURSTON CONSULTING GROUP 0.04 NW 3 $270,0004040 Ne 2nd Ave Ste 311Miami, FL 33137

50210000 VIA MOTIF, INC. 0.04 NW 1 $170,0004040 Ne 2nd Ave Ste 301Miami, FL 33137

76991301 APONWAO DESIGN, INC. 0.04 NW 2 $130,0004040 Ne 2nd Ave Loft312Miami, FL 33137

Data Note: Businesses are listed based on their proximity to the study area location. A maximum of 250 records can be displayed on one report.Source: Copyright 2014 Dun & Bradstreet, Inc. All rights reserved. Esri Total Residential Population forecasts for 2015.

September 01, 2015






73890600 ATMOSPHERE CREATIONS INC 0.04 NW 2 $150,0004040 Ne 2nd Ave Ste 306Miami, FL 33137

73890000 PCH PARTNERS LLC 0.04 NW 3 $170,0004040 Ne 2nd Ave Ste 414Miami, FL 33137

87419902 SKYLINE MANAGEMENT GROUP INC 0.04 NW 3 $400,0004040 Ne 2nd Ave Ste 305Miami, FL 33137

99992222 CONDESA PRODUCTIONS INC. 0.04 NW 0 $04040 Ne 2nd Ave Ste 412Miami, FL 33137

99992222 PRADA USA CORP 0.04 NW 0 $04040 Ne 2nd AveMiami, FL 33137

99992222 THE FLOWER BUD LLC 0.04 NW 0 $04040 Ne 2nd AveMiami, FL 33137

73890602 WINIVICH ASSOCIATES 0.04 NW 1 $49,0004040 Ne 2nd AveMiami, FL 33137

76410100 YOU & ME UPHOLSTERY INC 0.04 NW 1 $60,0004040 Ne 2nd Ave Ste 306Miami, FL 33137

87480000 O'REAR CONSULTING INC. 0.04 NW 1 $46,0004040 Ne 2nd Ave Ste 313Miami, FL 33137

99992222 HALLAND AND SHERRY 0.04 NW 0 $04040 Ne 2nd AveMiami, FL 33137

99992222 810 W. SMUGGLER, LLC 0.04 NW 0 $04040 Ne 2nd AveMiami, FL 33137

99992222 20 MAROON COURT LLC 0.04 NW 0 $04040 Ne 2nd Ave Ste 414Miami, FL 33137

67990000 WCC INVESTMENTS LLC 0.04 NW 3 $200,0004040 Ne 2nd Ave Ste 414Miami, FL 33137

73890600 BARON & ST.LAURENT INTERIOR DESIGN 0.04 NW 3 $240,0004040 Ne 2nd Ave Ste 405Miami, FL 33137

99990000 FRANK DESIGN, INC. 0.04 NW 0 $04040 Ne 2nd AveMiami, FL 33137

73890600 GARCIA- MATHIES INTERIORS INC 0.04 NW 4 $410,0004040 Ne 2nd Ave Ste 309Miami, FL 33137


September 01, 2015






73790203 GAGE RESEARCH DEVELOPMENT INSTITUTE 0.04 NW 2 $130,0004040 Ne 2nd Ave Ste 409Miami, FL 33137

65520000 PUERTO LOSCABOS DEVELOPMENT 10 0.04 NW 2 $200,0004040 Ne 2nd AveMiami, FL 33137

87420000 SIINC, LLC 0.04 NW 2 $180,0004040 Ne 2nd Ave Ste 413Miami, FL 33137

87410000 QUTESSENTIALLY 0.04 NW 3 $140,0004040 Ne 2nd AveMiami, FL 33137

65310000 FILLING STATION LOFTS LLC 0.04 NW 3 $200,0004040 Ne 2nd Ave Ste 414Miami, FL 33137

73110000 FRANK WORLDWIDE, INC. 0.04 NW 10 $1,500,0004040 Ne 2nd Ave Ste 401Miami, FL 33137

27210102 QUANTORO PUBLISHING 0.05 NE 23 $300,0004141 Ne 2nd Ave Ste 202Miami, FL 33137

81110000 ALTERS LAW FIRM 0.05 NE 20 $1,800,0004141 Ne 2nd Ave Ste 201Miami, FL 33137

81119901 INGRAM & INGRAM 0.05 NE 15 $1,000,0004141 Ne 2nd Ave Ste 203cMiami, FL 33137

73890602 SEITZ, L E ASSOCIATES 0.05 NE 15 $950,0004141 Ne 2nd Ave Ste 103Miami, FL 33137

65310100 CHARIFF REALTY GROUP 0.05 NE 6 $360,0004141 Ne 2nd Ave Ste 200bMiami, FL 33137

87430000 ADVOKATZ PLUS 0.05 NE 7 $600,0004141 Ne 2nd Ave Ste 101dMiami, FL 33137

57120000 TEAM 7 0.05 NE 3 $190,0004141 Ne 2nd Ave Ste 114Miami, FL 33137

56210000 SEBASTIEN JAMES 0.05 NE 8 $760,0004141 Ne 2nd Ave Ste 203aMiami, FL 33137

79999901 ADAMAR FINE ARTS 0.05 NE 4 $150,0004141 Ne 2nd Ave Ste 107Miami, FL 33137

87420300 THE PEPSOM GROUP INC 0.05 NE 20 $1,500,0004141 Ne 2nd Ave Ste 101Miami, FL 33137


September 01, 2015






67990000 FIRST CMG LLC 0.05 NE 3 $200,0004141 Ne 2nd Ave Ste 204aMiami, FL 33137

67190000 CLEO HOLDINGS 0.05 NE 3 $200,0004141 Ne 2nd Ave Ste 106bMiami, FL 33137

99992222 DEPADOVA 0.05 NE 0 $04141 Ne 2nd AveMiami, FL 33137

73891800 3620 DESIGN DISTRICT CORP. 0.05 NE 3 $150,0004141 Ne 2nd Ave Ste 200bMiami, FL 33137

56210000 APT 606 0.05 NE 2 $91,0004141 Ne 2nd Ave Ste 106aMiami, FL 33137

73899938 ANRI DESIGNS INC 0.05 NE 6 $100,0004141 Ne 2nd Ave Ste 114aMiami, FL 33137

87120000 K R ARCHITECT PC 0.05 NE 2 $120,0004141 Ne 2nd AveMiami, FL 33137

99992222 WYNWOOD PLAZA LLC 0.05 NE 0 $04141 Ne 2nd Ave Ste 204aMiami, FL 33137

48990000 MOBILE WORLDWIDE MEDIA, LLC 0.05 NE 1 $58,0004141 Ne 2nd Ave Ste 105cMiami, FL 33137

99992222 GUSTAV INC. 0.05 NE 0 $04141 Ne 2nd Ave Ste 106bMiami, FL 33137

58120108 MC KITCHEN 0.05 NE 0 $04141 Ne 2nd AveMiami, FL 33137

99992222 TUPI INC 0.05 NE 0 $04141 Ne 2nd AveMiami, FL 33137

57120000 VITRA 0.05 NE 2 $130,0004141 Ne 2nd AveMiami, FL 33137

99992222 MIA TOWNERS LLC 0.05 NE 0 $04141 Ne 2nd Ave Ste 200aMiami, FL 33137

99992222 WOULD U DO IT LLC 0.05 NE 0 $04141 Ne 2nd Ave Ste 201Miami, FL 33137

56210101 PANACHE BOUTIQUE, INC. 0.05 NE 2 $85,0004141 Ne 2nd Ave Ste 203aMiami, FL 33137


September 01, 2015






99992222 MENSING GROUP LLC 0.05 NE 0 $04141 Ne 2nd Ave Ste 105eMiami, FL 33137

99992222 PASCAL BABY, LLC 0.05 NE 0 $04141 Ne 2nd Ave Ste 106bMiami, FL 33137

15210000 NOVA TERRA CONSTRUCTION - GENERAL CONTRACTORS, LLC

0.05 NE 2 $110,0004141 Ne 2nd AveMiami, FL 33137

51220101 LUXURY BRAND PARTNERS, LLC 0.05 NE 0 $04141 Ne 2nd Ave Ste 205Miami, FL 33137

99992222 MILLIONAIRE MINDS GLOBAL, LLC 0.05 NE 0 $04141 Ne 2nd Ave Ste 106aMiami, FL 33137

50210000 CLEAR CO 0.05 NE 2 $140,0004141 Ne 2nd AveMiami, FL 33137

99990000 ELCOM MEDIA & FILM INC (NOT INC) 0.05 NE 0 $04141 Ne 2nd AveMiami, FL 33137

99992222 GETNET24X7 INC 0.05 NE 0 $04141 Ne 2nd Ave 203Miami, FL 33137

89991000 MELTING POT STUDIO INC 0.05 NE 1 $66,0004141 Ne 2nd AveMiami, FL 33137

73891800 ELASTIC PEOPLE 0.05 NE 2 $170,0004141 Ne 2nd Ave Ste 108Miami, FL 33137

83220601 HAITIAN HERITAGE MUSEUM CORP. 0.05 NE 7 $149,9894141 Ne 2nd Ave Ste 105cMiami, FL 33137

57120000 DESIGN WITHIN REACH, INC. 0.05 NE 3 $225,4714141 Ne 2nd Ave Ste 102Miami, FL 33137

56210000 L3 FASHION INC 0.05 NE 4 $300,0004141 Ne 2nd Ave Ste 106cMiami, FL 33137

73110000 MADISON SOUTH 0.05 NE 2 $180,0004141 Ne 2nd Ave Ste 105dMiami, FL 33137

59320000 R SUSANE INC 0.05 NE 1 $72,0004141 Ne 2nd Ave Ste 106cMiami, FL 33137

57120000 MENDEZ INTERNATIONAL ASSOCIATES, INC. 0.05 NE 2 $240,0004141 Ne 2nd Ave Ste 203cMiami, FL 33137


September 01, 2015






56410000 BABY COTTONS 0.05 NE 2 $98,0004141 Ne 2nd Ave Ste 106bMiami, FL 33137

58129902 DRIADE CAFE 0.05 NE 0 $04141 Ne 2nd Ave Ste 115Miami, FL 33137

73891402 JIM GALL AUCTIONEERS INC 0.05 NE 3 $260,0004141 Ne 2nd Ave Ste 105fMiami, FL 33137

57199905 LUMINAIRE, INC. 0.05 SW 0 $336,8423901 Ne 2nd AveMiami, FL 33137

59449901 CARTIER MIAMI BTQ 0.06 SW 10 $456,5453930 Ne 2nd Ave Ste 204Miami, FL 33137

58120000 MARTINEZ SRA CAFE 0.06 SW 0 $03930 Ne 2nd AveMiami, FL 33137

99992222 FRIENDS & FRIENDS INC 0.06 SW 0 $03930 Ne 2nd Ave Ste 202Miami, FL 33137

50210100 KNOLL, INC. 0.06 SW 12 $12,312,1243930 Ne 2nd Ave Ste 101Miami, FL 33137

73891800 CRUMB DESIGN DIST 0.06 SW 1 $69,0003930 Ne 2nd AveMiami, FL 33137

99992222 MAMAN FINE ART LLC 0.06 SW 0 $03930 Ne 2nd AveMiami, FL 33137

73891800 FDC MIAMI DESIGN DISTRICT LLC 0.06 SW 3 $170,0003930 Ne 2nd AveMiami, FL 33137

48999901 CUMULUS MEDIA INC. 0.06 SW 0 $1,056,5083930 Ne 2nd AveMiami, FL 33137

99992222 270/286 NE 39 STREET INC 0.06 SW 0 $03930 Ne 2nd AveMiami, FL 33137

50210000 NEW WAVE USA LLC 0.06 SW 2 $200,0003930 Ne 2nd Ave Ste 202Miami, FL 33137

58120108 PROSECCO RISTORANTE 0.06 SW 0 $03930 Ne 2nd AveMiami, FL 33137

99992222 INTERNATIONAL INC 0.06 SW 0 $03930 Ne 2nd AveMiami, FL 33137


September 01, 2015






73899999 WRP FINE ART 0.07 SW 1 $57,000201 Ne 39th StMiami, FL 33137

59480000 LOUIS VUITTON NORTH AMERICA, INC. 0.07 SW 9 $432,524170 Ne 40th StMiami, FL 33137

67990000 CHINA CS ACQUISITION CORP 0.07 NW 2 $120,0004100 Ne 2nd Ave Ste 318Miami, FL 33137

99992222 MODUSMIAMI, LLC 0.07 NW 0 $04100 Ne 2nd Ave Ste 103Miami, FL 33137

57129905 INSIDE OUT 2 0.07 NW 2 $140,0004100 Ne 2nd Ave Ste 104Miami, FL 33137

99992222 ACA/LGM, INC 0.07 NW 0 $04100 Ne 2nd AveMiami, FL 33137

59210102 VINTAGE VALUES WINE CLUB 0.07 NW 3 $340,0004100 Ne 2nd Ave Ste 320Miami, FL 33137

73110000 IRIS LATIN AMERICA, INC. 0.07 NW 10 $1,200,0004100 Ne 2nd Ave Ste 307Miami, FL 33137

73890600 NUHOUSE DESIGN ASSOCIATES, INC. 0.07 NW 2 $94,0004100 Ne 2nd Ave Ste 209Miami, FL 33137

48990000 TURNER COMMUNICATIONS 0.07 NW 1 $59,0004100 Ne 2nd Ave Ste 304Miami, FL 33137

17969901 MID ONE LEE LLC 0.07 NW 5 $260,0004100 Ne 2nd AveMiami, FL 33137

81110000 GERSON LAW OFFICE, P.A. 0.07 NW 2 $150,0004100 Ne 2nd Ave Ste 311Miami, FL 33137

99992222 FSM 602 CORPORATION 0.07 NW 0 $04100 Ne 2nd Ave Ste 303Miami, FL 33137

73890600 AH INTERIORS CORP 0.07 NW 3 $130,0004100 Ne 2nd Ave Ste 105Miami, FL 33137

73891800 TUI DESIGNS INC 0.07 NW 3 $170,0004100 Ne 2nd AveMiami, FL 33137

87110000 PHS ENGINEERING CORP 0.07 NW 1 $85,0004100 Ne 2nd Ave Ste 320Miami, FL 33137


September 01, 2015






99990000 CYBER EXPRESS INTERNATIONAL CORP 0.07 NW 0 $04100 Ne 2nd Ave Ste 209Miami, FL 33137

73110000 TURNER BACKUS INTERNATIONAL 0.07 NW 2 $190,0004100 Ne 2nd AveMiami, FL 33137

61620000 YALE MORTGAGE 0.07 NW 22 $1,800,0004100 Ne 2nd Ave Ste 103Miami, FL 33137

67990000 LAJIK CAPITAL GROUP 0.07 NW 2 $130,0004100 Ne 2nd Ave Ste 303Miami, FL 33137

61530100 COMMERCIAL FUNDING USA INC 0.07 NW 3 $230,0004100 Ne 2nd Ave Ste 206Miami, FL 33137

82990200 ASPIRA OF FLORIDA, INC. 0.07 NW 40 $12,429,9064100 Ne 2nd Ave Ste 307Miami, FL 33137

73890600 PRANICH & ASSOCIATES INTERIOR DESIGN, INC

0.07 NW 6 $590,0004100 Ne 2nd Ave Ste 209Miami, FL 33137

87120000 ALBAARI AND ASSOCIATES (PA) 0.07 NW 5 $550,0004100 Ne 2nd Ave Ste 307Miami, FL 33137

99992222 DANIEL LACHEEN PA 0.07 NW 0 $04100 Ne 2nd Ave Ste 202Miami, FL 33137

87120000 ABA ARCHITETTURA E DISEGNO, INC 0.07 NW 5 $450,0004100 Ne 2nd Ave Ste 210Miami, FL 33137

67990000 CS CAPITAL USA 0.07 NW 2 $140,0004100 Ne 2nd Ave Ste 318Miami, FL 33137

86410501 VENETIAN VILLAS OF CORAL GABLES, INC. 0.07 NW 3 $81,0004100 Ne 2nd Ave Ste 210Miami, FL 33137

01910000 GRAND PRIX FARMS INC 0.07 NW 2 $180,000158 Ne 41st St APT 1Miami, FL 33137

56610000 CRISTIAN LOUBOUTIN 0.07 SW 2 $130,000155 Ne 40th StMiami, FL 33137

56999903 EMILIO PUCCI 0.07 SW 2 $76,000155 Ne 40th StMiami, FL 33137

17439902 MOSAIC LLC 0.07 SW 1 $54,000155 Ne 40th StMiami, FL 33137


September 01, 2015






86610127 JERUSALEM SDA FRENCH CHURCH 0.08 NW 1 $42,9264201 Ne 2nd AveMiami, FL 33137

86610000 JERUSALEM SEVEN DAY 0.08 NW 2 $100,0004201 Ne 2nd AveMiami, FL 33137

54619903 DU CAP REALTY, INC. 0.08 SE 4 $120,000286 Ne 39th StMiami, FL 33137

87439902 M PROMOTIONS INC 0.08 SE 2 $140,000286 Ne 39th StMiami, FL 33137

99992222 MAISON DELUXE 111, LLC 0.08 SE 0 $0286 Ne 39th StMiami, FL 33137

99992222 KARPIO GROUP, LLC 0.08 SE 0 $0286 Ne 39th StMiami, FL 33137

65120100 MIAMI DECORATING & DESIGN CTR 0.09 SE 4 $320,0003841 Ne 2nd Ave Ste 400Miami, FL 33137

99992222 OAK PLAZA ASSOCIATES, LTD. 0.09 SE 0 $03841 Ne 2nd Ave Ste 400Miami, FL 33137

87480000 MANAGING CONSULTANTS INTERNATIONAL INC

0.09 SE 2 $95,0003841 Ne 2nd Ave Ste 400Miami, FL 33137

50210100 EUROPEAN DESIGN INC 0.09 SE 2 $170,0003841 Ne 2nd Ave Ste 101Miami, FL 33137

99992222 DDG, LTD. 0.09 SE 0 $03841 Ne 2nd Ave Ste 400Miami, FL 33137

82119903 JUNIOR BOSTON INC 0.09 SE 0 $03841 Ne 2nd Ave Ste 102Miami, FL 33137

75380000 MODA GARAGE LLC 0.09 SE 2 $140,0003841 Ne 2nd AveMiami, FL 33137

73891800 INTERNUM 0.09 SE 2 $140,0003841 Ne 2nd Ave Ste 400Miami, FL 33137

99992222 BECEKA PRODUCTS LLC 0.09 SE 0 $03841 Ne 2nd Ave Ste 302aMiami, FL 33137

67990000 NORWEGIAN WOOD ACQUISITIONS LL 0.09 SE 2 $110,0003841 Ne 2nd Ave Ste 400Miami, FL 33137


September 01, 2015






99992222 LIFE INTERACTIVE LLC 0.09 SE 0 $03841 Ne 2nd Ave Ste 309Miami, FL 33137

73890000 SPANIER WILLIAMS ENTERPRISES INC 0.09 SE 1 $51,0003841 Ne 2nd Ave Ste 201Miami, FL 33137

65310100 PROYECTA REAL ESTATE LLC 0.09 SE 2 $120,0003841 Ne 2nd Ave Ste 203aMiami, FL 33137

99992222 EXPO IMPO 0.09 SE 0 $03841 Ne 2nd AveMiami, FL 33137

17990606 BULTHAUP CORP 0.09 SE 3 $210,0003841 Ne 2nd Ave Ste 201Miami, FL 33137

07810200 EVERGREEN INTERIOR LANDSCAPING 0.09 SE 2 $88,0003841 Ne 2nd Ave Ste 305Miami, FL 33137

99992222 CAREDI USA LLC 0.09 SE 0 $03841 Ne 2nd Ave Ste 301aMiami, FL 33137

65310000 DACRA DEVELOPMENT CORPORATION 0.09 SE 20 $1,500,0003841 Ne 2nd Ave Ste 400Miami, FL 33137

67990000 RITA LOVELY ACQUISITIONS LLC 0.09 SE 2 $120,0003841 Ne 2nd Ave Ste 400Miami, FL 33137

15210000 MOBIUS CONSTRUCTION INC 0.09 SE 2 $200,0003841 Ne 2nd Ave Ste 400Miami, FL 33137

99992222 PENNY LANE ACQUISITIONS, LLC 0.09 SE 0 $03841 Ne 2nd AveMiami, FL 33137

72310201 COMMERCE & CULTURE LLC 0.09 SE 2 $72,0003841 Ne 2nd Ave Ste 400Miami, FL 33137

73890600 H O M DESIGN 0.09 SE 2 $93,0003841 Ne 2nd Ave Ste 308Miami, FL 33137

99992222 SWEET BIRD ASSOCIATES, LLC 0.09 SE 0 $03841 Ne 2nd Ave Ste 400Miami, FL 33137

99992222 MDA 1 MEMBER LLC 0.09 SE 0 $03841 Ne 2nd Ave Ste 400Miami, FL 33137

73891800 DESIGN 05 MIAMI 0.09 SE 2 $98,0003841 Ne 2nd Ave Ste 400Miami, FL 33137


September 01, 2015






86110000 LG LICENSING, LLC 0.09 SE 1 $77,0003841 Ne 2nd Ave Ste 203aMiami, FL 33137

87120000 BAKER ANTHONY C ARCHITECTS & PLANNERS PC INC

0.09 SE 1 $69,0003841 Ne 2nd Ave Ste 302aMiami, FL 33137

73891801 BRIDGE HOUSE INC 0.09 SE 3 $210,0003841 Ne 2nd Ave Ste 400Miami, FL 33137

76410000 MITCHELL GOLD BOB WILLIAMS 0.09 SE 1 $54,0003841 Ne 2nd Ave Ste 101Miami, FL 33137

73891106 THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES INC

0.09 SE 1 $7,269,7333841 Ne 2nd Ave Ste 301Miami, FL 33137

73891800 DANIEL HALE DESIGN LLC 0.09 SE 1 $73,0003841 Ne 2nd Ave Ste 102Miami, FL 33137

73890000 81 WASHINGTON ASSOCIATES, INC. 0.09 SE 3 $230,0003841 Ne 2nd Ave Ste 400Miami, FL 33137

70110000 PHONECARD SERVICES INC 0.09 SE 2 $91,0003841 Ne 2nd Ave Ste 301aMiami, FL 33137

99992222 MAI TARDI 0.09 SW 0 $0163 Ne 39th StMiami, FL 33137

58120500 BROSIA 0.09 SW 0 $0163 Ne 39th StMiami, FL 33137

57120000 MODERN HOME 2 GO 0.09 SE 12 $1,100,000270 Ne 39th StMiami, FL 33137

99992222 SPONDER GALLERY INC. 0.09 SW 0 $0151 Ne 40th StMiami, FL 33137

84120100 AREVALO GALLERY 0.09 SW 3 $110,000151 Ne 40th StMiami, FL 33137

55410000 POST NEWSWEEK STATIONS 0.09 NE 4 $330,0003900 Biscayne BlvdMiami, FL 33137

82110000 MIAMI ARTS CHARTER SCHOOLS 0.09 NE 0 $03900 Biscayne BlvdMiami, FL 33137

83519901 FAMILY CHRISTIAN ASSN AMER INC 0.10 NW 21 $4,354,022150 Ne 42nd StMiami, FL 33137


September 01, 2015






50210200 MONICA JAMES COMPANY 0.10 SW 4 $610,000140 Ne 40th StMiami, FL 33137

99992222 GATOR ENGLISH, L.C. 0.10 SW 0 $0140 Ne 40th StMiami, FL 33137

51310118 INTAIR INTL TEX DESIGN 0.10 SW 4 $1,000,000180 Ne 39th StMiami, FL 33137

87120000 HOK NEW URBAN STUDIO 0.10 SW 4 $290,000180 Ne 39th St Ste 218Miami, FL 33137

99992222 BODEMA, INC. 0.10 SW 0 $0180 Ne 39th St Ste 112Miami, FL 33137

99992222 STEVEN R CANTOR DC 0.10 SW 0 $0180 Ne 39th StMiami, FL 33137

67190000 JE GOLDEN HOLDINGS, INC. 0.10 SW 3 $150,000180 Ne 39th St Ste 107Miami, FL 33137

42260202 JONATHAN ADLER 0.10 SW 2 $81,000180 Ne 39th StMiami, FL 33137

99992222 CHICDOM.COM, LLC 0.10 SW 0 $0180 Ne 39th StMiami, FL 33137

84120000 BAS FISHER INVITATIONAL 0.10 SW 2 $91,000180 Ne 39th St Ste 210Miami, FL 33137

99992222 VENSTYLE LLC 0.10 SW 0 $03840 Ne 2nd AveMiami, FL 33137

32990400 ROBBA, EMILIO 0.10 NW 13 $1,300,0004242 Ne 2nd AveMiami, FL 33137

50210200 HOLLY HUNT MIAMI 0.11 SW 10 $3,306,6663833 Ne 2nd AveMiami, FL 33137

57139901 ORIENTAL RUG INTERNATIONAL INC 0.11 SW 3 $390,000131 Ne 40th StMiami, FL 33137

58120101 MICHAEL'S GENUINE FOOD & DRINK 0.11 SW 80 $2,200,000130 Ne 40th St Ste 8Miami, FL 33137

99992222 TURCHING LOVE AND LIGHT JEWERL 0.11 SW 0 $0130 Ne 40th StMiami, FL 33137


September 01, 2015






99992222 IN THE SEAM, CORP. 0.11 SW 0 $0130 Ne 40th St Ste 4Miami, FL 33137

17210400 CONTEPORA WALL COVERING INC 0.11 SW 1 $44,000130 Ne 40th StMiami, FL 33137

56510000 SCOTCH AND SODA 0.11 SW 4 $200,000130 Ne 40th StMiami, FL 33137

17110103 TCYOB AIR CONDITIONING 0.11 SW 1 $56,000130 Ne 40th StMiami, FL 33137

73890000 W & W VENTURES, LLC 0.11 SW 3 $200,000130 Ne 40th St Ste 11Miami, FL 33137

72310000 HAIRDRAGON SALON INC 0.11 SW 3 $140,000130 Ne 40th St Ste 9Miami, FL 33137

58129902 FOOD CAFE 0.11 SW 0 $0130 Ne 40th St Ste 12Miami, FL 33137

61620000 MUTINY MORTGAGE, LLC 0.11 NW 3 $220,0004218 Ne 2nd Ave FL 2Miami, FL 33137

99992222 ELGAG US LLC 0.11 NW 0 $04218 Ne 2nd AveMiami, FL 33137

67999905 2700 NORTH OCEAN LLC 0.11 NW 5 $410,0004218 Ne 2nd AveMiami, FL 33137

73891800 SIPURE DESIGN INC. 0.11 SW 1 $57,000135 Ne 40th StMiami, FL 33137

37950000 THE LOUIS XXI COLLECTION 0.11 SW 4 $230,000135 Ne 40th StMiami, FL 33137

57139902 CASA CIELO INC 0.11 SW 2 $350,000135 Ne 40th StMiami, FL 33137

73890602 CONNECT FOUR LLC 0.11 SE 2 $91,0003886 Biscayne BlvdMiami, FL 33137

23920301 LUXURY LINENS 0.11 SW 1 $150,000125 Ne 40th StMiami, FL 33137

30890611 CRESCENT GARDEN 0.12 NW 11 $1,300,00010 Ne 41st StMiami, FL 33137


September 01, 2015






73899999 DIECI DEVELOPMENT, LLC 0.12 NW 2 $85,00010 Ne 41st StMiami, FL 33137

50230504 VARNEL INC CRESCENT TRADING GROUP LLC 0.12 NW 2 $190,00010 Ne 41st StMiami, FL 33137

58130000 TWENTY TWO GROUP 0.12 SW 47 $960,0003814 Ne 2nd AveMiami, FL 33137

59440102 ROLEX BOUTIQUE 0.12 SW 7 $560,000135 Ne 39th StMiami, FL 33137

50490104 I ON THE DISTRICT OPTICAL BOUTIQUE 0.12 SW 2 $150,000120 Ne 40th StMiami, FL 33137

67990000 ALL CREATIVE INVESTMENTS, INC. 0.12 SE 2 $130,0002195 University Park BlvdMiami, FL 33137

73891005 BUENO INCORPORATED 0.12 SE 90 $4,300,0002930 Distayne BlvdMiami, FL 33137

99992222 RUSSELL KING PL 0.12 SE 0 $04 Seasons Twr FL 15Miami, FL 33137

99992222 NORTH MIAMI ASSETS INC 0.12 SE 0 $011790 Haynes Bridge RdMiami, FL 33137

42150000 PAULRY COURIER SERVICES, INC. 0.12 SE 1 $49,0005600 Ne Fort Avnueapt 102Miami, FL 33137

23319903 JAMES ROSS 0.12 SE 5 $430,000Golden Apparel LLCMiami, FL 33137

65529901 CRESCENT HEIGHTS INC 0.12 SE 2 $250,0002200 Des Caines BlvdMiami, FL 33137

63110000 FIRST CAPITOL PROPERTY AND CASUALTY INC 0.12 SE 10 $690,0003510 15th Blvd Ste 200Miami, FL 33137

99992222 ASL GOGO LLC 0.12 SE 0 $05140 E Camp BlvdMiami, FL 33137

65310000 MOSTELAC ENTERPRISES INC 0.12 SE 2 $140,000407 Lincoln Rd Ste 9-AMiami, FL 33137

72310000 FACTORIA CLIP U.S.A., INC. 0.12 SE 2 $68,0005701 Discagne BlvdMiami, FL 33137


September 01, 2015






67190000 PEBRO HOLDING, INC. 0.12 SE 2 $88,0003898 Biscayne BlvdMiami, FL 33137

87480000 KREON USA LLC 0.12 SE 12 $740,0003898 Biscayne BlvdMiami, FL 33137

99992222 SOLESDI US LLC 0.12 SW 0 $03800 Ne 2nd AveMiami, FL 33137

57120000 KILI WATCH INC 0.12 SW 0 $479,9993818 Ne 2nd AveMiami, FL 33137

89990101 ADRIANA DE MOURA GALLERY, INC. 0.12 SW 1 $56,000114 Ne 40th StMiami, FL 33137

83220307 ORCHIDMANIA SOUTH FLORIDA INC 0.12 SE 2 $93,0003892 Biscayne BlvdMiami, FL 33137

62110000 NORTH BAY US CAPITAL MANAGEMENT, LLC 0.12 NW 2 $110,000176 Ne 43rd StMiami, FL 33137

67190000 SC PARENT HOLDING COMPANY LLC 0.12 NW 2 $88,000176 Ne 43rd StMiami, FL 33137

67990000 PELICAN INVESTMENT HOLDINGS, LLC 0.12 NW 2 $110,000176 Ne 43rd StMiami, FL 33137

99992222 BARRIO 1060 LLC 0.12 NW 0 $0176 Ne 43rd StMiami, FL 33137

65310000 FORT CAPITAL MANAGEMENT, L.L.C. 0.12 NW 2 $150,000176 Ne 43rd StMiami, FL 33137

99992222 COOPER AVENUE 0.13 NW 0 $0112 Ne 41st StMiami, FL 33137

83220000 MBJCC 0.13 NE 30 $2,888,8953950 Biscayne BlvdMiami, FL 33137

83220205 B'NAI B'RITH YOUTH ORGANIZATION 0.13 NE 2 $93,0003950 Biscayne BlvdMiami, FL 33137

99992222 RAFAEL A HERNANDEZ 0.13 NW 0 $0145 Ne 42nd StMiami, FL 33137

87480000 TM RILEY & COMPANY CONSULTING LLC 0.13 NW 4 $260,000168 Ne 43rd StMiami, FL 33137


September 01, 2015






57120000 PALACE FURNITURE & UPHOLSTERY INC 0.13 SW 5 $150,0003821 Ne 1st CTMiami, FL 33137

47890100 FLAT-RATE MOVERS LLC 0.13 NW 2 $92,000120 Ne 42nd StMiami, FL 33137

86999904 HADASSAH 0.13 NE 2 $331,5734200 Biscayne BlvdMiami, FL 33137

86410000 HELENE & ADOLPH BERGER FAMILY FOUNDATION, INC.

0.13 NE 3 $136,5894200 Biscayne BlvdMiami, FL 33137

86410000 CAROLYN ROSEN MILLER FAMILY SUPPORTING FOUNDATIO


86410000 THE GANZ FAMILY FOUNDATION INC 0.13 NE 3 $130,0004200 Biscayne BlvdMiami, FL 33137

86410000 ELAINE AND PHILIP BLOOM FAMILY SUPPORTING FOUNDATION, INC.


82990200 CENTER FOR ADVANCEMENT OF JEWISH EDUCATION

0.13 NE 30 $3,090,0304200 Biscayne Blvd FL 1Miami, FL 33137

67320000 KALISH FAMILY FOUNDATION INC 0.13 NE 1 $43,7724200 Biscayne BlvdMiami, FL 33137

89991000 ISRAEL ALIYAH CENTER 0.13 NE 3 $130,0004200 Biscayne Blvd FL 1Miami, FL 33137

86410000 HELENE D. ZIFF MEMORIAL FOUNDATION, INC. 0.13 NE 3 $57,5294200 Biscayne BlvdMiami, FL 33137

86410000 THE BUDD AND NANETTE MAYER SUPPORT FOUNDATION INC



September 01, 2015



C. Land Sales Details

Land Sale No. 1 and 3

Property Identification Record ID 2102 Property Type Commercial Property Name Former Power Studio Address 3711 NE 2nd Ave., Miami, Miami Dade County, Florida

33137

Location Design District Tax ID 01-3219-019-0370 MSA Miami-Ft. Lauderdale Market Type Retail Land Sale Data Grantor 3711 Design District, LLC (Lyle Chariff Group) Grantee Wharton Equities Sale Date June 10, 2015 Deed Book/Page 29651-2925 Property Rights Fee Simple Conditions of Sale Arm's Length Sale History prior sale in May, 2013 for $8MM Verification Public Record; Daily Bus. Report, Other sources: Loop Net Sale Price $14,000,000 Land Data Zoning T6-12-O Topography Level to Street Utilities All available to site Shape rectangular Flood Info X Land Size Information Gross Land Size 0.260 Acres or 11,336 SF Front Footage 119 ft NE 2nd Ave Actual/Planned Building SF 20,076 Indicators Sale Price/Gross Acre $53,796,754 Sale Price/Gross SF $1,235.00 Sale Price/Planned Bldg. SF $697.35 Remarks This is the June 2015 sale of the former Power Studio site. There was a prior sale in May, 2013 for $8MM or $706/SFL (Sale #3). Lyle Chariff purchased the recording studio/nightclub/gallery building and demolished the improvements. He completed the demolition and infrastructure work before the 2015 sale of the site for $14MM or $1235/SFL (Sale #1) to Wharton Equities. The site has plans for a 20,076 retail building on three levels including a rooftop space that is very visible from I-195. Rents are currently advertised at $120/SF for the ground and mezzanine spaces, $85 for the 2nd floor space. The rooftop will available for events with rates dependent on day of week, time of day etc. The area has exposure to the 100,000 cars that pass daily on I-195 east/west bound from Miami Beach, as well as a good location on NE 2nd Ave. in the heart of the Design District. Architectural plans for the site are 90% complete and construction could begin within 60 days of lease execution, completion within 13 months.

Land Sale No. 2

Property Identification Record ID 2103 Property Type Commercial, Retail Property Name 3620 NE 2nd Ave Address 3620 NE 2nd Ave, Miami, Miami Dade County, Florida

33137 Location Design District Tax ID 01-3124-022-0030 MSA Miami-Ft. Lauderdale Market Type Business/Commercial Sale Data Grantor 3620 Design District,LLC (Lyle Chariff & Mauricio Zapata) Grantee Harry Benitah Sale Date May 26, 2015 Deed Book/Page 29630-3798 Property Rights Leased Fee/Fee Simple Conditions of Sale non-open market Financing Cash Sale History $1.782 MM in April, 2012 Verification Public Record; Real Deal

Land Sale No. 2 (Cont.) Sale Price $5,490,000 Land Data Zoning T6-12-O Topography Level to street Utilities All available to site Shape Rectangular Flood Info X Depth 107 Land Size Information Gross Land Size 0.142 Acres or 6,195 SF Front Footage 51 ft NE 2nd St. Actual/Planned Building SF 5,186 Indicators Sale Price/Gross Acre $38,602,809 Sale Price/Gross SF $886.20 Sale Price/Planned Bldg. SF $1,058.62 Remarks Spring 2015 sale of a site currently leased to three long time businesses of the Design District (Cypress Room Res., Bloom Miami, Shades and Sound). The Lyle Chariff Group sold the site to Harry Benitah after personally offering him the sale (non-open market). Sold for $5.49 MM or $886/SFL; triple the 2012 price of $1.782MM or $287.65/SFL. The site has good exposure to NE 2nd Ave. in the heart of the Design District as well as visibility from I-195 overpass. Mr. Benitah has no current plans for further redevelopment.

Land Sale No. 4

Property Identification Record ID 2104 Property Type Commercial, Retail Property Name Former ABC Costume Shop Address 3700-3704 NE 2nd Ave., Miami, Miami Dade County,

Florida 33137 Location Design District Tax ID 01-3124-022-0100 MSA Miami-Ft. Lauderdale Market Type Retail Land Sale Data Grantor Bisazza US Prop. Inc. Grantee 3704 NE 2nd Ave Design District LLC (Lyle Chariff Group) Sale Date May 04, 2012 Deed Book/Page 28105-981 Property Rights Leased Fee/Fee Simple Conditions of Sale Open Market Verification Public Record; Real Deal, Other sources: Loopnet Sale Price $3,500,000

Land Data Zoning T6-12-0 Topography Level to street Utilities All available to site Shape Rectangular Flood Info X Depth 103 Land Size Information Gross Land Size 0.066 Acres or 2,875 SF Front Footage 25 ft NE 2nd Ave Actual/Planned Building SF 10,000 Indicators Sale Price/Gross Acre $53,029,565 Sale Price/Gross SF $1,217.39 Sale Price/Planned Bldg. SF $350.00 Remarks 2012 sale of the former ABC Costume Shop, an architecturally interesting building on the south edge of the Design District. Purchased and redeveloped by the Lyle Chariff Group, the building has reportedly been re- sold although the sales price is not available at this writing (9/15). The four story building was built in 1926 and sits directly under the north side of I-195, the east/west access to Miami Beach, giving visibility of the building. The site has a full renovation plan.

Land Sale No. 5

Property Identification Record ID 2101 Property Type Commercial / Residential Property Name 2nd Ave and NE 43 St. Address 220 NE 43rd Street, Miami, Miami Dade County, Florida Location Design District Tax ID 01-3219-009-0070 MSA Miami-Ft. Lauderdale Market Type Land Sale Data Grantor SE Con.of the 7th Day Adventist Inc. Grantee 4201 NE 2nd Ave. LLC Sale Date July 18, 2014 Deed Book/Page 29245-2533 Property Rights Fee Simple Conditions of Sale Arm's Length Verification Public Record Sale Price $12,500,000

Land Data Zoning T3-L Topography Level to Street Utilities All available to site Shape almost square Fencing yes Flood Info X Land Size Information Gross Land Size 1.968 Acres or 85,729 SF Planned Units 82 Front Footage 181 ft NE 2nd Ave;160 ft NE 4nd Ave.;332 ft NE 43rd St. Indicators Sale Price/Gross Acre $6,351,410 Sale Price/Gross SF $145.81 Sale Price/Planned Unit $152,439 Remarks Mid-2014 sale of 1.97 acre site formerly owned by the 7th Day Adventist Church. The 23,543 SF of improvements on the site were built in 1956 and recently demolished. This site covers an entire block and has 4 street frontages. A single tower project with 82 residential units, 70,000 SF of commercial space and 302 parking spaces is planned for the site. T-3 zoning allows mid density projects.


D. Qualifications of the Appraiser

QUALIFICATIONS THOMAS J. BLAZEJACK, MAI, AI-GRS, CCIM President Blazejack & Company Academic Northwestern University, B.A., 1978 Experience

Mr. Blazejack has been active as a real estate appraiser/analyst on a full time basis since 1979. During this period, his real estate experience included highest and best use analyses, market studies and evaluation of offices, hotels/motels, apartments, condominiums, warehouses, vacant land, single-family homes, shopping center, mobile home parks, recreational property and special purpose property. These assignments were conducted in eight states and Puerto Rico with extensive work throughout Florida. Prior to joining Blazejack & Company (formerly affiliated with Slack, Slack, Roe & Blazejack), Mr. Blazejack was a Senior Appraiser with Cushman & Wakefield of Florida, a Senior Appraiser with Southeast Mortgage Company and an Appraiser with Real Estate Research Corporation. He was also a Staff Appraiser with E. Roger Budny and Associates. Mr. Blazejack has extensive experience using a variety of software programs from Office Suites, to mapping programs to financial analysis programs including Pro-Ject plus+ and Argus.

Designations and Licenses MAI Member, Appraisal Institute, Certificate No. 7115, currently certified AI-GRS General Review Specialty CCIM Member, CCIM Institute No. 8766 Florida - Registered Florida Real Estate Broker Associate Florida - State-Certified General Real Estate Appraiser, License Number 0001015 North Carolina - Certified General Real Estate Appraiser, Certificate No. A7629

dash design and architecture school appraisal report - dash… · dash design and architecture...

Documents