SPIRIT L AKE MULTI-FAMILY DE VELOPMENT SITEPROPERTY FOR SALE

877.518.5263 | SRDcommercial.com | 114 N. Tennessee Ave. Lakeland, FL 33801

13,700 cars/day

Spir

it La

ke R

d.

Coleman Rd.

660

+/-

FT

1,275 +/- FT

3 E XECUTIVE SUMMARY

4 MAPS

6 DEMOGRAPHICS

9 AERIAL VIEWS

14 FUTURE L AND USE

15 CONCEPT PL AN

CONFIDENTIALITY & DISCLAIMER ©2018 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. ©2018 Coldwell Banker Commercial Saunders Ralston Dantzler Realty, LLC, All rights Reserved, makes every attempt to provide accurate information on this property, however, does not guarantee the accuracy. Buyer should rely entirely on their own research, inspection of property, and records.

T A B L E O F C O N T E N T S

2

Augie Schmidt Sales Associate & Research Analyst

ASchmidt@SRDcommercial.com 863.774.7133

Eric Ammon, CCIM Associate Broker

EAmmon@SRDcommercial.com 863.272.7135

0 SPIRIT L AKE RD. ,

WINTER HAVEN, FL 33880E X E C U T I V E S U M M A R Y

The subject property consists of 19.32 +/- acres on Spirit Lake Rd. in Winter Haven, FL, and would make a great site for a market rate or affordable apartment development. The current land use for this property is Residential High which allows up to 10 dwelling units per acre. In 1997, this property was approved for up to 15 units per acre under ordinance 97-46. It is anticipated that Polk County would allow a density increase back to 288 units.

The Winter Haven - Polk County housing market will continue to grow with companies like Publix , Legoland, Geico, and State Farm’s Operation Center in close proximity to the site.

Site Address: 0 Spirit Lake Rd.

County: Polk

PIN (Property Identification Number): 252826000000021010

Land Size: 19.32 +/- acres

Property Use: Vacant Land

Utilities: On Site - Polk County

Current Land Use: Residential High - Polk County

Taxes: $3,385.34 (2017)

Traffic Count: 13,700 cars/day

Asking Price: $2,825,000

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R E G I O N A L L O C AT I O N M A PLocated in the Lakeland - Winter Haven MSA, between Tampa and Orlando, in the center of the I-4 Corridor.

ORL ANDO

TAMPA

L AKEL AND

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SUBJECT

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T A B L E O F C O N T E N T S

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UPDATE THEN DELE TE

PL ACE MAP INTO FR AME

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Located west of Downtown Winter Haven, near Spirit Lake.

AUBURNDALE

WINTER HAVENSUBJECT

L O C AT I O N M A P

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CYPRESS GARDENS

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1, 2, 3 mile radius

5, 10 minute drive time

D E M O G R A P H I C S M A P

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B E N C H M A R K D E M O G R A P H I C S

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Strong population density with 22,062 people within a 2 mile radius and almost 50,000 within a 10 minute drive-time.

1 Mile 2 Miles 3 Miles 5 Mins 10 Mins Polk FL US

Population 7,186 22,062 38,092 14,157 49,966 667,696 20,875,686 330,088,686Households 2,352 7,896 14,530 5,008 18,647 249,123 8,152,541 124,110,001Families 1,851 5,642 9,579 3,638 12,455 173,193 5,273,287 81,631,156Average Household Size 3.06 2.79 2.62 2.83 2.67 2.63 2.51 2.59 Owner Occupied Housing Units

1,635 5,128 8,942 3,177 11,369 169,591 5,193,134 78,262,285

Renter Occupied Housing Units

717 2,768 5,588 1,831 7,277 79,532 2,959,407 45,847,716

Median Age 34.9 37.6 39.9 36.1 38.9 41.4 42.3 38.3

IncomeMedian Household Income $46,494 $40,891 $39,092 $40,332 $38,965 $47,429 $52,098 $58,100Average Household Income $59,415 $52,587 $51,519 $53,054 $51,056 $64,107 $75,281 $83,694Per Capita Income $19,619 $18,795 $19,700 $18,682 $19,252 $24,475 $29,913 $31,950

Trends: 2015 - 2020 Annual Growth RatePopulation 0.90% 0.80% 0.92% 0.92% 0.86% 1.55% 1.41% 0.83%Households 0.80% 0.68% 0.83% 0.83% 0.77% 1.48% 1.36% 0.79%Families 0.76% 0.61% 0.73% 0.76% 0.68% 1.42% 1.30% 0.71%Owner HHs 0.70% 0.47% 0.63% 0.66% 0.57% 2.07% 1.91% 1.16%Median Household Income 2.38% 2.28% 1.98% 2.20% 1.99% 2.65% 2.52% 2.50%

B E N C H M A R K D E M O G R A P H I C S

The subject property is located

in a somewhat culturally

diverse neighborhood with 65.4%

White, 22.8% Black and 11.8%

other.

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1 Mile 2 Miles 3 Miles 5 Mins 10 Mins Polk FL US

Households by Income<$15,000 8.90% 13.40% 15.60% 13.20% 15.20% 12.30% 12.00% 11.50%

$15,000 - $24,999 18.60% 15.10% 15.60% 15.70% 16.00% 12.90% 11.70% 10.00%

$25,000 - $34,999 10.90% 14.10% 13.30% 14.20% 13.20% 12.20% 11.10% 9.70%

$35,000 - $49,999 14.20% 15.50% 16.10% 15.90% 16.50% 16.20% 14.60% 13.10%

$50,000 - $74,999 19.90% 21.20% 19.50% 19.70% 19.80% 19.80% 18.70% 17.80%

$75,000 - $99,999 14.00% 11.00% 10.30% 11.00% 9.80% 12.10% 11.70% 12.40%

$100,000 - $149,999 8.90% 7.10% 7.20% 7.40% 7.20% 9.20% 11.50% 13.90%

$150,000 - $199,999 2.80% 1.40% 1.40% 1.60% 1.30% 2.70% 4.30% 5.70%

$200,000+ 1.80% 1.10% 1.10% 1.30% 1.10% 2.50% 4.60% 6.10%

Population by Age0 - 4 7.10% 6.80% 6.30% 7.10% 6.50% 6.00% 5.30% 6.10%

5 - 9 6.90% 6.80% 6.40% 7.00% 6.50% 6.10% 5.50% 6.30%

10 - 14 7.30% 6.90% 6.40% 7.10% 6.50% 6.10% 5.60% 6.30%

15 - 19 6.80% 6.30% 6.00% 6.50% 6.10% 5.90% 5.70% 6.40%

20 - 24 7.40% 6.50% 6.20% 6.90% 6.40% 6.00% 6.40% 7.00%

25 - 34 14.50% 13.60% 13.10% 14.00% 13.40% 12.60% 13.10% 13.80%

35 - 44 12.20% 11.60% 11.20% 11.70% 11.40% 11.40% 11.80% 12.50%

45 - 54 12.50% 12.20% 12.30% 12.40% 12.30% 12.00% 13.00% 13.00%

55 - 64 12.60% 12.80% 13.20% 12.70% 13.00% 13.10% 13.50% 12.90%

65 - 74 8.20% 10.10% 10.70% 9.10% 10.20% 12.00% 11.30% 9.20%

75 - 84 3.30% 4.80% 5.70% 4.10% 5.40% 6.40% 6.20% 4.40%

85+ 1.00% 1.60% 2.50% 1.40% 2.30% 2.40% 2.70% 2.00%

Race and EthnicityWhite Alone 62.80% 65.40% 69.50% 63.30% 70.60% 72.60% 73.10% 70.20%

Black Alone 24.60% 22.80% 19.10% 24.50% 17.20% 15.30% 16.40% 12.80%

American Indian Alone 0.50% 0.50% 0.50% 0.50% 0.60% 0.50% 0.40% 1.00%

Asian Alone 2.00% 1.60% 1.50% 1.70% 1.40% 1.90% 2.80% 5.60%

Pacific Islander Alone 0.00% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.20%

Some Other Race Alone 6.70% 6.10% 6.20% 6.40% 7.00% 6.80% 4.20% 6.80%

Two or More Races 3.40% 3.50% 3.20% 3.50% 3.10% 3.00% 3.00% 3.40%

Hispanic Origin (Any Race) 19.80% 17.90% 17.60% 18.90% 19.40% 22.00% 25.50% 18.10%

6 Miles

9 Miles

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SUBJECT

Active market area with multiple big box retailers and potential employers for future residents.

M A R K E T A R E A M A P

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24,500 cars/day

15,000 cars/day

41,000 cars/day

AuburndaleSpeedway

13,100 cars/day

24,500 cars/day

Winter HavenHigh School

Polk CountySheriff’s Office

Lake Shipp Elementary

Westwood Middle School

Lake Howard

Lake Cannon

Lake Lulu

Lake Elosie

30,000 cars/day

38,000 cars/day

T R A D E A R E A M A P

10

4.5 Miles

6 Miles

Highly active trade area with a mixture of commercial, educational and religious uses.

SUBJECT

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41,000 cars/day

HananeFurniture

DunhamAnimal

Hospital

24,500 cars/day

15,000 cars/day

13,700 cars/day

WestwoodMiddle School

Winter HavenPublic Library

23,500 cars/day

8,000 cars/day

10,800cars/day

OasisChristianAcademy

Jan Phyl Park& Sports Complex

N E I G H B O R H O O D A E R I A L

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The subject property is located in close proximity to Oasis Christian Academy and the Jan Phyl Park & Sports Complex.

Winter Lake Rd.

N

S

EW

HananeFurniture

15,000 cars/day

Polk CountyFire Rescue

MattressWarehouse

OasisChristianAcademy

13,700 cars/day

5,000 cars/day

Spiri

t Lak

e Rd

.

Recker Hwy.

Jan Phyl Park& Sports Complex

SUBJECT

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The subject boasts 660 +/- FT of frontage located at the signalized intersection of Coleman and Spirit Lake Rd.

S I T E A E R I A LS I T E A E R I A L

13,700 cars/day

Spir

it La

ke R

d. N

S

EW

Coleman Rd.

660

+/-

FT

1,275 +/- FT

U T I L I T I E S

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S

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Per Polk County Utilities Engineer

The existing waste water manhole is approximately 190 feet across the street on 7th Street. The manhole goes to an 8 inch waste water gravity main which is connected to an existing lift station at the northwest corner of 7th Street and Hatfield Rd. The existing lift station is 4 feet in diameter and about 12.5 feet deep. A 3 inch force main exits the lift station and dumps into another 8 inch waste water gravity main system (serving all of the Jan Phyl area north and south of Coleman Rd between Hatfield Rd and King Rd) which then goes to another downstream lift station. Potable water is readily available to the site.

SEWER

Residential High (RH)Polk County

T he purpose of the RH district is to provide areas for high-density

residential development within urban areas. The RH district permits single-family dwelling units, duplex units, multi-family units, group living facilities, and community facilities. Multi-family structures may contain non-residential uses to provide retail and personal services for residents.

T he RH district can support up to 15 dwelling units/acre per level 3

site approval from Polk County.

F U T U R E L A N D U S E

RH BPC-2

RM CE

ROS INST-1

RL-4 LCC

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SUBJECT

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Former development plan of 288 units

15

m

8 - 1 BEDROOM APARTMENTS 8 - 2 BEDROOM APARTMENTS

16 - 2 BEDROOM APARTMENTS

RECREATION AND LEASING OFFICE

1 - 8 ARE DRY RETENTION PONDS

DESC_RIPTI!J!'-:!

BUILDINGS 8' SIDE\./ALKS !rb�!It.�GSOF PROJECTASPHALTPARKING AND DRIVETOTAL

.,.

_SQ,.FT.

201,926

4,800 31,455

161,588

399,769 (47.51/.)

NOIIDI SCALE: ,• CII fOQ'

0 <:( 0 a:: w :.:: <:( _J

a.. en

COLEMAN ,ROAD

I

Demand for Affordable Housing

Multiple nearby affordable housing communities reported 100% occupancy with many of them

having wait-lists for potential residents.

One community in particular reported wait lists times for units as follows:

1 Bedroom / 1 Bathroom Units: 3-4 year wait

2 Bedroom / 1 Bathroom Units: 2-4 year wait

3 Bedroom / 2 Bathroom Units: 6-8 year wait

Average Market Rents

Apartment Communities located in the City of Winter Haven reported the following rents:

1 Bedroom / 1 Bathroom Units: $1.36 per SF

2 Bedroom / 1 Bathroom Units: $1.14 per SF

3 Bedroom / 2 Bathroom Units: $1.03 per SF

Source: Yardimatrix .com

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Average Home Values

Polk County: $170,500

Winter Haven: $160,900

33880 Zip Code: $134,400

Source: Zillow.com

SUBJECT

SUBJECT

Market Apartment Communities

Affordable Apartment Communities

Toll Roads

Interstates

US Roads

State Roads

County Roads

County Boundaries

©2014 Coldwell Real Estate Corporation. Coldwell Banker Commercial® is a

registered trademark licensed to Coldwell Banker Real Estate Corporation. Any

information displayed should be verified and is not guaranteed to be accurate by

COLDWELL BANKER COMMERCIAL SAUNDERS REAL ESTATE (CBCSRE) or

SAUNDERS RALSTON DANTZLER (CBCSRD). You may not copy or use this

material without written consent from CBCSRE or CBCSRD.

17

SUBJECT

Po l k Co u n t y SC h o o l Bo a r d 13,000Pu B l i x Su P e r Ma r k e t S 11,721la k e l a n d re g i o n a l he a lt h 5,605Wa l M a r t 5,100Ci t y o f la k e l a n d 2 ,300ge i C o 2 ,222Po l k Co u n t y BOCC 2 ,200

Wi n t e r hav e n ho S P i ta l 2 ,079Po l k Co u n t y Sh e r i f f ’S of f i C e 1,955Wat S o n Cl i n i C 1 ,851So u t h e a S t e r n un i v e r S i t y 1 ,557le g o la n d 1 ,500Mo S a i C 1 ,380Stat e fa r M 1 ,000

MANUFACTURING

WAREHOUSE

OFFICES

DISTRIBUTION

POLK COUNT Y ’S TOP EMPLOYERS

E M P L O Y M E N T M A R K E T

S R D c o m m e r c i a l . c o m

CBC Saunders Ralston Dantzler Realty877.518.5263

114 N. Tennesee Ave.Lakeland, FL 33801