WATERFRONT MIXED USE PENINSULA LAND FOR SALE W Gandy Blvd & West Shore Blvd Tampa, FL Acres (mol) Entitled $21,000,000 ($2.
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2 This property represents an opportunity to acquire the premier remaining parcels of the Westshore Marina District. Upon completion the district and adjacent parcels are anticipated to include 1,500 (mol) new luxury residential units. National builders have already committed to the development of over 30 acres within the 52 acre project set to break ground in Q Infrastructure improvements such as public trails, marinas, landscape, hardscape, signage and lighting will be unrivaled by any public subdivision in Tampa. This parcel will also have signage rights on W Gandy (47,000ADT) and West Shore Blvds (20,000ADT). This parcel is subdividable and bordered by water on 3 sides. Condo hospitality office and retail are all potential uses that will benefit from the unlimited sunset and waterfont views. There is only one buiding within miles of the project over 3 stories, and the entitlements allow for 201 of height on new product. The Northern basin also includes marina rights with submerged land leases in hand. PROPERTY OVERVIEW Lot Size 8 (mol) Acres Zoning Approved PD Property Type Uses Comm/Hosp/Resi/Office/Marina Submarket South Tampa PROPERTY FEATURES + Mixed use Waterfront Peninsula Parcel + Included in New Upscale Westshore Marina District + Enhanced Infrastructure, Signage, Trails, Parks degree endless water views LOCATION + Convenient Access to Gandy Bridge, Westhsore Blvd + Within 15 Minutes of Downtown Tampa, St Pete, Hyde Park, Tampa International Airport Master Project Enhancements 1 Grand Entry Features and Monument Signage 2 Upgraded Street and Site Lighting 3 Upgraded Wayfinding Signage 4 Traffic Calming Round About with Public Art 5 Waterfront Trail and Parks
3 Westshore Business District & Tampa International (12min) Downtown St. Pete (12min) Westshore Blvd (20K ADT) W Gandy Blvd (47K ADT)
4 Market Highlights: South Tampa boasts some of the highest income levels in the region with an average household income of $100,422 (over 48% higher than the state average). Approximately 71% of the adult population has attended college or obtained college degrees while over 73% is employed in a white collar position such as management, business, sales, office or professional capacity, which suggests an educated and highly skilled workforce. Stats: Median home prices are up 5.1% in 2016 Florida Association of Realtors indicate 2015 sales and prices of homes increased 20% Area is expected to see 8.1% growth in households over the next 3 years Prices are still 21% below the peak Min Max Avg Avg Max Avg Building SqFt SqFt SqFt Fl Fl Min $ Max $ Avg $ $/SqFt Alagon 2,830 4,700 3, $ 750,000 $ 2,050,000 $ 1,301,000 $ 344 Aquatica 2,660 4,670 3, $ 941,000 $ 2,150,000 $ 1,268,273 $ 367 Bellamy 2,434 3,166 2, $ 902,000 $ 1,270,000 $ 988,625 $ 380 Bliss 2,140 2,140 2, $ 810,000 $ 1,526,478 $ 1,130,906 $ 528 Castillo 1,823 2,555 2, $ 595,000 $ 2,505,900 $ 1,027,304 $ 474 CS Towers 1,136 1,767 1, $ 283,000 $ 595,000 $ 502,214 $ 326 One 1,402 4,062 2, $ 570,000 $ 3,714,500 $ 1,540,502 $ 599 Salvador 964 2,537 1, $ 459,000 $ 1,299,000 $ 633,182 $ 421 Sunset Pointe 2,721 2,939 2, $ 989,000 $ 1,349,999 $ 1,177,562 $ 417 Water Club 1,711 1,940 1, $ 476,500 $ 985,000 $ 658,436 $ 364 Grand Total 964 4,700 2, $ 283,000 $ 3,714,500 $ 956,266 $ 433 Comparable Market (Table Left): The Tampa/St Pete condo market has begun to take off. The comp table to the left illustrates the mix and value of the market. Blended sale of over $400/sf can be expected, and could climb higher with the addition of boat slips and the advantage of the regions only sunset waterfront views. * Recent Bayshore Colonade 1.63 acre parcel sold for $6.2M and is intended for 62 new condo units in 2018 ** Yellow units are resales of old product *** Pink column shows original developer sales Averages 1,890 3,198 2, $ 641,682 $ 1,923,671 $ 1,016,752 $ 423
5 Master Project Enhancements 1 Grand Entry Features and Monument Signage 2 Upgraded Street and Site Lighting 3 Upgraded Wayfinding Signage 4 Traffic Calming Round About with Public Art 5 Waterfront Trail and Parks
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