Multi-Family Space For Sale @ 3830 Ne Indian River Dr

DO NOT DISTURB TENANTS. Property tours are available by appointment ONLY. Please contact Norman Matus to schedule at norman.matus@gmail.com or 561-302-4655. Investment Highlights: ±17 acre waterfront development opportunity with ±750’ feet of water frontage Currently operating as RV/Mobile Home Community with short term tenants allowing for immediate redevelopment into a FULLY APPROVED PUD PUD with full and final approval from Martin County with development order issued (The Property has $1.6 million of impact fee and utility credits) Shovel ready turn-key project and construction can start immediately Approved PUD for 83 Units (39 Villas and 44 Single Family Homes) One of the largest waterfront parcels in the Treasure Coast from West Palm Beach to Vero Beach Terrific location with strong local demand for new construction Investment Overview: Pitchford's by the Sea RV Park is a ±17 acre waterfront redevelopment opportunity located in Jensen Beach, FL. The Property is located on ±750’ feet of water frontage on the Indian River (Intracoastal Waterway) at the foot of the Jensen Beach Causeway to Hutchinson Island. This opportunity presents investors with immediate cash flow during the planning/construction phase with a huge value add opportunity through development and sale of residential sites. The Property is currently operating as a RV/trailer park with a total of 160 income producing ‘units’ inclusive of ±150 pad sites, 4 overflow/storage sites, 6 cottages. Additionally, within the PUD and included in this offering are 2 single family homes located at Skyline Drive. Pitchford's by the Sea RV Park has been a popular destination for tourists since the park was founded by the Pitchford family in the early 1900's. Pitchford's By The Sea offers full hook up sites, water view sites, 30 & 50 amp and big rig sites with laundry and showers available for guests’ convenience. During season, the property is 100% occupied and all tenants are short term w/o in-place leases allowing for immediate planning/development. As submitted to Martin County, the proposal changes the current RV Park into a residential community that will be known as Pitchford's Landing, featuring 83 homes on a ±17 acre parcel of land that sits adjacent to the northern boundary of the Jensen Beach Community Redevelopment Area and next door to the Renar Riverplace. In January 2017, a Development Order by the Martin County Board of County Commissioners approved a Planned Unit Development (PUD) for 83 Units (39 Villas and 44 Single Family Homes) and 2 Swimming Pools with Clubhouses, a Commercial Marina, 8 Docks. The Buyer of this Property will have great flexibility in the PUD development for building designs, square footage, etc. Pitchford’s Landing qualifies for ±$1.2 Million of Impact Fees to Martin County and ±$400,000 in utility credits.for future development. This proposed redevelopment is consistent with the vision of the Jensen Beach Community Redevelopment Area (CRA) plan and the community design incorporates new urbanist principles for livable, walkable communities. The PUD is designed to create a small community of 84 residences which will include 1 and 2-story single-family homes and 2-story villas with a Key West/Old Florida architectural style, balconies, large front porches and rear accessible garages. A playground, swimming pools, and abundance of green spaces, community areas, winding walkways, bicycle paths and brick paver sidewalks will complement the community. Located along the majestic and scenic Indian River Lagoon and walking distance to downtown Jensen Beach, the proposed plans for Pitchford’s Landing keep the charm and unique character of Jensen Beach. This Property is one of the largest waterfront parcels available in the Treasure Coast from West Palm Beach to Vero Beach. To the north, the Property abuts an upscale deed-restricted community and to the south, the Property abuts a portion of the Jensen Beach Community Redevelopment Area and a 12 acre vacant parcel. Lots on the western portion of the property have an elevation of 80 feet above sea level and have spectacular views of the Indian River (Inter Coastal Waterway) and the Atlantic Ocean. The property is unique to Florida as this elevation is created by a five mile sand dune that represents the highest elevation on the east coast of Florida. The proposed homes in the highest elevation areas are estimated to be priced in the million dollar range. The proposed Villas are estimated to start sales around ±$250 per SF with single family pricing from $190+ per SF depending on elevation and lot location premiums. Jensen Beach, is tucked into Florida's East Coast between Fort Pierce and West Palm Beach, and is an unincorporated census-designated place totaling ±8.1 square miles in Martin County, FL. Jensen Beach offers excellent schools, great beaches, restaurants, fishing, affordable real estate, and a great local community. Located along the Indian River Lagoon at the Jensen Beach Causeway Pitchford's RV currently offers the best in *old Florida* style camping with the potential to become a premier waterfront residential community through redevelopment giving investors HUGE value add potential. Properties Included in Offering (±17 acres): Parcel 15-37-41-003-001-00020-5 located at 3830 Ne Indian River Dr, Jensen Beach Parcel 15-37-41-003-001-00060-6 located at 3840 Ne Indian River Dr, Jensen Beach Parcel 15-37-41-001-007-00021-3 located at 3879 Ne Skyline Dr, Jensen Beach Parcel 15-37-41-001-007-00040-0 located at 3869 Ne Skyline Dr, Jensen Beach Parcel 15-37-41-003-001-00340-8 located at Ne Indian River Dr, Jensen Beach Parcel 15-37-41-001-007-00041-0 located at Skyline Dr, Jensen Beach Parcel 15-37-41-001-008-00010-4 located at Ne Skyline Dr, Jensen Beach Parcel 15-37-41-000-000-00170-8 located at Unassigned, Jensen Beach Parcel 15-37-41-000-000-00190-4 located at Unassigned, Jensen Beach Parcel 15-37-41-001-007-00020-4 located at Unassigned, Jensen Beach Parcel 15-37-41-003-001-00110-6 located at Unassigned, Jensen Beach