CBRE, Inc. | Licensed Real Estate Broker Former Bank Branch-8615 Collier Blvd. FOR SALE NAPLES, FLORIDA 34114 PRESENTED BY Paul Rutledge First Vice President +1 813 273 8471 +1 941 228 2198 cell [email protected]Kelsey Cansler Sales Associate +1 813 273 8426 +1 813 843 2628 cell [email protected]
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FOR SALE Former Bank Branch-8615 Collier Blvd. · 2017-06-27 · CBRE, Inc. | Licensed Real Estate Broker Former Bank Branch-8615 Collier Blvd. FOR SALE NAPLES, FLORIDA 34114 PRESENTED
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CBRE, Inc. | Licensed Real Estate Broker
Former Bank Branch-8615 Collier Blvd.FOR SALE
NAPLES, FLORIDA 34114
PRESENTED BY
Paul RutledgeFirst Vice President +1 813 273 8471+1 941 228 2198 [email protected]
AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENTCBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.
This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.
This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties
are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.
Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.
The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.
By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.
If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.
CBRE is pleased to offer for sale a ±3,252 SF vacant bank branch building and property located at 8615 Collier Boulevard in Naples, FL. The property is being marketed as a vacant building for a potential owner-occupant or an investor with an alternative use
• Located at an outparcel to Naples Lakes Village Center - a Publixanchored shopping center
• Located at a signalized intersection on Collier Blvd. & RattlesnakeHammock Road.
• Easy access and excellent visibility
• Adequate parking for various uses
• Two drive-thru lanes
• Restriction against use as a financial institution for 2 years
• Subject to Declaration of Covenants, Conditions, Restrictions andEasements for Naples Lakes Commercial Property Owner’sAssociation (OR 2859 P6:1004).
BANK BUILDING PROPERTY FACTS
Address: 8615 Collier Blvd., Naples, FL 34114
Building Size (GLA): ±3,252 SF with 2 drive-thru lanes
Year Built: 2004
Land Area: ±0.72 Acres
Parking: ±24 spaces
Zoning: PUD - Naples Lakes Country Club
Asking Price: $1,250,000
BANK BUILDING PROPERTY FACTS
Address: 8615 Collier Blvd., Naples, FL 34114
Building Size (GLA): ±3,252 SF with 2 drive-thru lanes
Year Built: 2004
Land Area: ±0.72 Acres
Parking: ±24 spaces / with cross access and parking with Naples Lakes Village Center
CONDIT IONS : • Buyer to analyze and determine through investigaation by professional services.
• May not be used as financial institution for 2 years.
NO REPRESENTATIONS OR WARRANTIES BY SELLER. BUYER AND ITS PROFESSIONALS MUST DETERMINE COST FOR ASSOCIATION ASSESSMENTS, COSTS, TAXES, INSURANCE, AS MAY BE APPLICABLE.
SUBJECT PROPERTY
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SUBJECT PROPERTY
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SUBJECT PROPERTY
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PHYSICIANS REGIONAL MEDICAL CENTER
NAPLES LAKES COUNTRY CLUB
NAPLES NATIONAL GOLF CLUB
SubjectProperty
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354,203Collier County Population
10.2% Population
Growth 2010-2016
10.3%2016-2021
Projected Growth
APRIL 2017UNEMPLOYMENT
3.6%1.5%
COLLIER COUNTY JOB Y-O-Y CHANGE
PROJ. EMPLOYMENT GROWTH 2016-2024
13.9%
VERY HIGH ECONOMIC VITALITY
Collier County
ABSORPTION
Naples has continued to exhibit strong fundamentals and remains a top tier retail market in the state. In 2016, from a net absorption perspective, the market remained relatively flat registering -9,361 sq. ft. at the close of the year. However, the market has already begun to rebound with YTD 2017 net absorption (17,154 sq. ft.) surpassing annual totals for 2015, 2012, 2010, 2008, and 2007 respectively. This 2017 net absorption was supported by a significant year-over-year increase in leasing activity in 2016 with many of these deals falling below the 2,500 sq. ft. range.
VACANCY/RATES
The vacancy rate for Naples has hovered near or below the 2% mark since 2013. In 2016 the rate closed out at 2.2% which is below pre-recession levels and 2017 has seen a greater drop with the YTD total reaching 1.8%. This scarcity of available space has proven to buoy rates as demonstrated by the 2016 average asking NNN rate of $30.00. In areas such as 5th Avenue South rates can climb as high as $75 per sq. ft. with many of the tenants being locally owned and operated businesses.
UNDER CONSTRUCTION/PROPOSED PROJECTS
There are two projects currently under construction in the Naples area. The first and largest project being 465 5th Ave S. The mixed use project will include 11 luxury condominiums and street level retail. The developer, Phil McCabe, who has historically been
very active in the area, also plans to add 57 condos, a 51 room hotel, and three town homes at Third Avenue and Seventh Street. The other project under construction is the 4,000 sq. ft. Victoria Square at 1200 Central Ave. Expected to deliver in Q3 2017, the one-story building will have units ranging from 954 sq. ft. to 798 sq. ft.
There are over 167,000 proposed projects in the Naples pipeline as well including the 70,000 sq. ft. Naples Square. The mixed use property is the largest of the planned projects and is being developed by the Ronto Group. Another project of note is the 26,000 sq. ft. neighborhood center at 560 9th St S. The space is expected to fetch up to $55 per sq. ft.
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Naples REtAILH I G H L I G H T S
TOP TIERRETAIL
MARKET
PIPELINEPROJECTS
STRENGTHS & OPPORTUNITIES
STRENGTHS
• Improved site
• Existing building with drive-thru lanes
• Great traffic counts: Collier Blvd. AADT – 32,000
• Excellent national credit tenants
• Outparcel to Naples Lakes Village Center - a Publix anchored shopping center
• Signalized corner location
OPPORTUNIT IES
• Can be retrofitted for other preferred uses or used as is
• Large enough to accommodate a high quality national tenant
• Value growth in market
TAX APPRAISER MAP
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DEMOGRAPHICSDEMOGRAPHIC BRIEF
8615 COLLIER BLVD
1 MILE 3 MILES 5 MILES
2016 Population - Current Year Estimate 1,834 25,867 84,596
2021 Population - Five Year Projection 2,081 29,473 94,156
2010 Population - Census 1,580 22,670 76,289
2000 Population - Census 546 15,912 60,480
2010-2016 Annual Population Growth Rate 2.41% 2.13% 1.67%
2016-2021 Annual Population Growth Rate 2.56% 2.64% 2.16%
2016 Households - Current Year Estimate 787 11,340 35,799
2021 Households - Five Year Projection 880 13,060 39,999