exceptional investment opportunity
TRANSCRIPT
EXCEPTIONAL INVESTMENT OPPORTUNITY
BlueGate Partners, LLC, and its affiliates, (collectively “BlueGate”) has been
retained on an exclusive basis by the owner (the “Owner”) to arrange the
sale of the Owner’s fee simple and leased fee interest in Harbortown Marina
located on Harbortown Drive on the north side of Sea Ray Drive approxi-
mately one mile west of North Banana River Drive in Merritt Island, Brevard
County, Florida. (the “Property”). The Property totals approximately 24
acres and includes a 274 wet slip marina offering a diversity of slip sizes
from 30 feet to 60 feet and an attractive average width of 16 feet. Total dockage space is 11,058 lineal feet (“lf”); a 255 dry dock
marina offering slips up to 32 feet in length by 13 feet in height by 12 feet in width; a 4,800 square foot (“sf”) marina office and
restaurant; an attractive pool area and bath house facility; a dry dock storage facility with 25,920 sf of partially covered space; a fuel
facility with an 8,000 gallon gas fuel tank and additional above ground fuel tank with the capacity for 7,000 gallons of diesel and
5,000 gallons of gas; and, a storage boatyard with capacity for 69 boats and limited boatyard repair services.
A summary of the Property’s salient features is contained in the table below.
Wet Dry Storage Surface Storage Commercial SizeAddress Status(1) Slips Docks (Boats/Vehicles) (SF) Acres
2700 Harbortown Drive Built 274 255 120 4,800 23.54
Merritt Island, Florida
Note:(1) Original 1995 DRI includes approvals for 275 wet slips, surface storage for 120 boats or vehicles, covered storage for 500 boats
and 30,000 sf of commercial space, but DRI requirements limit the potential of any future development beyond what has beenconstructed without going through a full approvals process with the County.
Exclusively Offered By
INVESTMENT HIGHLIGHTS• Well Located Property With Excellent Access by Water and Land – The Property is located adjacent to State
Highway 528 which is a major four lane east-west thoroughfare connecting Orlando and I-4 to the west with
Cape Canaveral to the east. By water, the Property is located along the south side of the Barge Canal which
intersects directly with both the Banana River approximately one mile to the east and Intracoastal Waterway
two miles to the west and has easy access to the Atlantic Ocean through Port Canaveral three miles east.
• Strong Occupancy and Consistent Performance – The Property is 80 percent leased on a blended (wet and
dry slip) monthly/ long term basis. Occupancy in the wet slips has increased approximately 16 percent on a
year-to-date basis. The Property has performed consistently over the previous two years with net revenues
of over $1.7 million in both 2011 and 2012, respectively.
• Significant Demand For Marina Slips – Brevard County has 33,943 vessels registered as of 2012, which is the
seventh most of any County in Florida, however the County has only approximately 4,000 wet boat slips and
over 3,500 dry slips, which equates to approximately one slip for every five registered vessels.
• Potential to Increase Marina Revenues – The Property’s current dockage rates ($9.75 per lf per month for
wet and $9.00 per lf per month dry) are considered below the average of its competitive set which is ap-
proximately $10.49 and $10.31 per lf per month for wet and dry slips, respectively and could be increased.
• High Income Area with Growing Population Base – The average household income within the one mile radius
is approximately $87,623 which is approximately 37.1 percent and 46.1 percent higher than the County (ap-
proximately $63,915) and State of Florida levels (approximately $59,964), respectively. In addition, since
2000, the population growth rates within the one mile radius of the Property and within Brevard County
have been approximately 10 percent and 16 percent to the County’s current estimated population of approx-
imately 550,000 people.
Brevard
Orange
Sem
inole Volusia
Brevard
Orange Osceola O
sceolaB
revard
Brevard
Volusia
Orange
OrangeSeminole
95
95
95
1
1
1
520
520
407
520
528
528
528
524
405
405
406
501
519
1A
A1A
419 3
532
426
419
532
50
3
46
46
50
3
0 63
Miles
419
Cocoa Beach
Cape Canaveral
Cocoa
Cocoa West
Port St. John
Sharpes
Christmas
Bithlo
Geneva
Bellwood
Viera
Bonaventure
Georgiana
MerrittIsland
Rockledge
LakeWinder
LakePoinsett
Ban
ana
Riv
er
CapeCanaveralAir ForceStation
John F.Kennedy
Space Center
CanaveralNational
Seashore
St. Johns NationalWildlife Refuge
Space CoastRegional Airport
UlumayWildlife
Sanctuary
LakeHarney
St. JohnsRiver Loughman
LakeSouthLake
BananaCreek
SaltLake
BlackpointWildlife Drive
Park
PuzzleLake
Little BigEcon State
Forest
Indi
an R
iver
AtlanticOcean
DaytonaBeach
Titusville
AtlanticOcean
WALTDISNEYWORLD
HarbortownMarina
NASA Causeway
Titusville
HarbortownMarina
FOR MORE INFORMATION
ERIC M. BYLIN, MANAGING PARTNER CRAIG J. CALLAWAY, SENIOR VICE [email protected] • 561.655.1742 [email protected] • 561.655.1748
420 Royal Palm Way, Suite 310, Palm Beach, FL 33480 • Tel: 561.655.1743 • Fax: 561.655.1745
BlueGate and the Owner make no warranty or representation, expressed or implied, to the accuracy of the information contained herein. The information has been submitted in good faith subject to the possibility oferrors and omissions; change of price, rental information or other related Property information; or, withdrawal without notice. Investors should rely solely on their own independent analysis, due diligence andverification of Property information. Prospective Investors agree that BlueGate and the Owner shall have no liability to the Investor or Investor’s representatives or agents resulting from the use of the informationcontained herein or distributed by BlueGate and the Owner in the future.