General Property Information

DISCLAIMER & LIMITING CONDITIONS

Transaction Consultants, Inc., a Florida licensed real estate brokerage firm, has been retained as exclusive agent to the owners (“Owner”) of Lots 19, 20 and 21, Block 20 of Hillsboro Shores, Section B located in Pompano Beach, Florida (“the Subject Property”).

This Informational Material has been prepared by Transaction Consultants and is furnished solely for informational purposes to assist prospective purchasers in deciding whether to proceed with an in-depth investigation of the Subject Property prior to submitting a proposal or offer to acquire the Subject Property. It does not purport to be all-inclusive or to contain all of the information which a prospective purchaser may need or desire. This Informational Material  is subject to changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Subject Property.

All recipients hereof agree and acknowledge that there are no representations, guaranties or warranties, of any kind or nature, express or implied, by operation of law or otherwise, being made herein with respect to the Property, its income or development potential, size, zoning, character, value, location or other feature or characteristic.

All sizes and square footages set forth herein are approximations only, based on information available at the time these Informational Materials were compiled. Actual sizes and square footages may vary.

All prospective purchasers are hereby advised to conduct an independent review of the Subject Property and to independently verify all of the information set forth herein.

The Owner of the Subject Property reserves the right without notice at any time to withdraw the Property or any portion thereof from the market. The Owner expressly reserves the right, in its sole discretion, to reject any and all expressions of interest or offers to purchase the Subject Property and / or to terminate discussions with any entity at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing this Information or making an offer to purchase the Subject Property unless and until a written agreement for the purchase of the Subject Property has been fully executed, delivered and approved by the Owner and its legal counsel, and any conditions to the Owner’s obligations thereunder have been satisfied or waived.  Transaction Consultants is not authorized to make any representations or agreements on behalf of the Owner.

Except as expressly set forth in a purchase and sale agreement, if and when executed and delivered by all parties:

A)                  The Subject Property is being sold “as is”, “where is”, and “with all faults”, as of the closing date, without any representations or warranties whatsoever, including, without limitation, as to its condition, fitness for any particular purpose or merchantability or compliance with governmental laws, ordinance or regulations, or any other warranty, express or implied;

B)                   Potential Purchasers who become a party to a binding purchase and sale agreement will be acquiring the Subject Property based solely on the Purchaser’s own independent investigations and inspection of the Subject Property and not in reliance on any information provided by Transaction Consultants, Inc., Owner or any of their employees, officers, directors, consultants, or agents or contractors; and

C)                 Neither Transaction Consultants, Inc. nor Owner is or will be obligated to alter, repair or improve the Subject Property.


CONTENTS

o        THE OFFERING

o        SUBJECT PROPERTY GENERAL DESCRIPTION

o        OWNERSHIP STRUCTURE

o        CURRENT SITE IMPROVEMENTS

o        INGRESS / EGRESS / ACCESS

o        BUILDING PERMITS

o        DOCKS, DOLPHIN PILES & DREDGING PERMITS

o        INTRACOASTAL NAVIGABLE DEPTH

o        CONCURRENCY

o        ELEVATION / FLOOD DESIGNATION

o        UTIILITIES

o        SOILS

o        STORMWATER DRAINAGE

o        COASTAL BUILDING ZONE

o        ZONING DESIGNATION

o        B-2 ZONING DEVELOPMENT PARAMETERS

o        COMPREHENSIVE LAND USE PLAN DESIGNATION

o        ENVIRONMENTAL

 

THE OFFERING

Qualified purchasers are extended the opportunity to make an offer to acquire 100% fee simple interest in Lots 19, 20 and 21, Block 20, Hillsboro Shores, Section B located in Pompano Beach, Florida (the “Subject Property”).

Ideally situated in the midst of the luxury residential markets of Hillsboro Mile, Lighthouse Point and Hillsboro Shores, the Subject Property, containing approximately 300 feet of frontage on the Intracoastal Waterway and located via yacht literally minutes from the Atlantic Ocean, is being offered on an all cash, “as is, where is” basis. A restriction prohibiting the operating of a charter fishing fleet on the property will be recorded on the deed.

The contact person for arranging site visits or answering questions is as follows.  

 

Thomas M. Fitzpatrick

Transaction Consultants, Inc.

3170 N. Federal Highway

Suite 112

Lighthouse Point, Florida 33064

(954) 786-8600

(954) 786 - 8601 fax

SUBJECT PROPERTY GENERAL DESCRIPTION

The Subject Property is located in the middle of Florida’s Gold Coast in Pompano Beach, Florida and consists of Lots 19, 20 and 21 of Block 20 of Hillsboro Shores, Section B, such plat approved November 18th, 1946 and recorded in Plat Book 22, Page 39 of the Public Records of Broward County, Florida and the improvements located thereon.

The Subject Property is bounded on the north by the Intracoastal Waterway (“ICW”), on the west by a residential high rise condominium complex, on the south by North Riverside Drive and on the east by a 3-story restaurant / lounge facility.

Total area within the Subject Property’s boundaries is estimated to be 37,626 square feet.

As shown on historic documents, the boundary lines of the individual lots are generally configured as follows:

·                  Lot 19 – 100’ wide by 120’ deep

·                  Lot 20 – 100’ wide by 120’ deep

·                  Lot 21 – 100’ wide by 120’ to 136’ deep with depth increasing at the northern half width point

Lots 20 and 21 seawall bulkhead is set approximately 20’ inside their respective northern property lines (ICW frontage).

Lots 19, 20 and 21 have approximately 300’ on the ICW.

Dockage on Lot 19 consists of an approximately 100-foot dock oriented parallel to the north property line.

Dockage on Lots 20 and 21 consist of 11 slips oriented perpendicular to the property line with the slips separated via dolphin pilings.

OWNERSHIP STRUCTURE

Lot 19 is owned on a fee simple basis separately from Lots 20 and 21 which constitute what is known as “Fish City Marina”, a Condominium according to the Declaration of Condominium thereof, recorded in OR Book 9704, Page 924 of the Public Records of Broward County consisting of the following units: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, A, B, C. 

CURRENT SITE IMPROVEMENTS

Current site improvements, constructed in 1979 (Lot 19) and 1981 (Lot 20 and 21), consist of paved parking and vehicular access areas, two buildings housing charter fleet ticket operations and ancillary office uses, docks and landscaped areas.

The Subject Property has been continuously utilized since originally developed as a charter boat fleet operations center including the docking of boats, the solicitation and sale of fishing trips, the parking of customer and service personnel vehicles and the processing of daily catches.

INGRESS / EGRESS / ACCESS

The Subject Property’s eastern boundary is adjacent to the right-of-way of North Riverside Drive (formerly “Del Faro Drive”). North Riverside Drive provides access from the Subject Property to State Road A1A, also known as North Ocean Boulevard.

The Subject Property can be accessed via three primary east-west corridors, all connected to State Road A1A:

1.                   14th Street Causeway (located to the south)

2.                   Atlantic Boulevard (located to the south)

3.                   Hillsboro Boulevard (located to the north)

Both North Riverside Drive and State Road A1A are currently 2 lane roadways. A review of future State and County roadway maps indicate no plans to expand North Riverside Drive or State Road A1A in the area of the Subject Property.

The Property is also accessible via the Intracoastal Waterway.

BUILDING PERMITS

Lot 19 Building Permits

Development on Lot 19 was permitted by the City of Pompano Beach under Building Permit 77-1591 issued in mid 1977.   A Certificate of Completion was issued October 25, 1977. A Certificate of Occupancy was issued January 6, 1978.  Current site improvements appear to generally match those found in record documents.

Lots 20 and 21 Building Permits

Development of Lots 20 and 21 was permitted by the City of Pompano Beach under Building Permit 81 – 1080. A Certificate of Completion was issued June 22, 1981. A Certificate of Occupancy was issued July 7, 1981. Current site improvements appear to generally match those found in record documents.

DOCKS, DOLPHIN PILES & DREDGING PERMITS

Lot 19

Department of Environmental Regulation Permit #06-39-0533-6E, issued May 3, 1977, permitted the dredging to minus 6 feet mean sea level 80 feet into the ICW right of way and installation of an 8’ dock and 3 dolphin pilings.

Lots 20 and 21

U. S. Army Corps of Engineers Permit #79C-1532, issued May 9, 1980 and Department of Environmental Regulation Permit #DF06-25504-6E, issued March 21, 1980 permitted the removal of 100 feet of existing seawall, construction of 200 feet of new seawall, construction of a 5 foot marginal pier with dolphin pilings along the new seawall and excavation of 1,600 cubic yards of material to a depth of –5 feet mean low water.

INTRACOASTAL NAVIGABLE DEPTH

According to a document provided by the Florida Inland Navigational District the depth of the ICW leading from the Subject Property to the Hillsboro Inlet Bridge opening ranges from 6’ to 8’ at its shallowest to 10’ and more at its deepest.

CONCURRENCY

According to the City of Pompano Beach’s Official Zoning Code, the Subject Property is located in what is labeled as an “Urban Infill Transportation Concurrency Exception Area”.

According to City of Pompano personnel, being located within this arbitrary and politically identified area currently exempts the Subject Property from having to obtain a Certificate of Concurrency from the County for new development undertaken per the Subject Property’s existing zoning and building development regulations.  There are no guarantees this concurrency exception will continue to exist on an indefinite basis.

ELEVATION / FLOOD DESIGNATION

Per Panel 119 of National Flood Insurance Program Flood Insurance Map Number 12011C0119G, the Subject Property’s flood zone designation is “Zone AE” with a specified minimum floor elevation of 7 feet above mean sea level.

According to notes on record documents, finished floor elevations for selected structures were as follows:

·                     Drift boat ticket office - 8.25’ above mean sea level

·                     Charter boat ticket office facility - 8.28 ‘ above mean sea level

·                     Center line of North Riverside Road – 3.91’ above mean sea level

·                     Lots 20 & 21 bulkhead cap – 4.41’ above mean sea level

UTILITIES

Water & Sewer

As identified on City of Pompano Beach City Engineer Map Number 143, water and sewer service is provided to the Subject Property by the City of Pompano Beach.

Water is provided via a 6” line generally located in the southern side of North Riverside Drive.  This line eventually ties into a 12” line located in the Atlantic Boulevard area that crosses the ICW on the south side of Atlantic Boulevard.

Sewer service is provided via an 8” gravity line generally located in the northern side of North Riverside Drive. This line joins a multi-line network combination of increasing in size gravity lines and force mains that eventually join up and head west over the ICW at Atlantic Boulevard.

Electricity

Electricity is provided by Florida Power and Light and currently enters the site from wood power poles located in the northern side of North Riverside Drive. 

Telephone

Telephone service is provided by Bell South.

Natural Gas

There is no natural gas provided to the site.

SOILS

According to the United States Soil Conservation Soils Map, the soils underlying the Subject Property are classified as Ae – Arents -Urban Land Complex and Ao – Arents, Organic Substratum – Urban Land Complex.

These subsurface soil classifications are characterized by subsurface soils composed of organics, muck, silt and sands intermixed in varying amounts at different elevation levels.

Compressibility and movement of these soils require most buildings of any size and weight (> 1 story) to be built on piling supported foundations.

A review of record building plans for the Subject Property’s improvements indicated the drift boat ticket building (primarily wood construction) to have been built on a spread footer foundation and the 2-story charter boat building (primarily block and poured in place steel reinforced concrete construction) to have been built on a piling foundation.

STORMWATER DRAINAGE

Stormwater drainage as originally constructed is provided on the Subject Property via an underground pipe system connecting catch basins to seawall located outfall ports that discharge storm water into the Intracoastal Waterway.  

COASTAL BUILDING ZONE

According to the City of Pompano Beach Coastal Building Zone Map (dated March 1986), the Subject Property is located within the “Coastal Building Zone”. 

ZONING DESIGNATION

According to the City of Pompano Beach, Florida, Official Zoning Map adopted by Ordinance 2003-20 on November 26, 2002, the zoning classification of Lots 19, 20 and 21 is B-2, Community Business.

Uses Allowed By Right In B-2 Zoning Classification

Examples of uses allowed by right on the Subject Property under the B-2 zoning include:

Professional, governmental and business offices

·                     Retail sales of new merchandise

·                     Antique stores

·                     Personal and office service establishments

·                     Financial institutions

·                     Restaurants

·                     Day care centers

·                     Public park

·                     Electronic game and billiard establishment

·                     Post office substations

·                     Filling stations with no repair component

Uses Allowed by Special Exception in B-2 Zoning Classification

Uses allowed by special exception (having to go before City Council for authorization) include:

·         Residential apartments up to 30 units per acre as part of a commercial structure but not exceeding 50% of the floor area of the structure, subject to allocation of flex or reserve units by City Commission.

·         Free standing multiple family residential up to 30 units per net acre of site area, subject to allocation of flex or reserve units by City Commission.

·         Churches

B-2 ZONING DEVELOPMENT PARAMETERS

Following are examples of development parameters listed under B-2 zoning regulations.

Minimum Lot Size                     10,000  square feet

Maximum Height                     Maximum of 10 stories but in no case over 105’

Maximum Lot Coverage :   45%  

Pervious Surface Area: 20%  Can place underground stormwater drainage in these areas          

Building Set Backs:                   

Side None where site adjoins commercial site, 10’ where site adjoins residential site

Front 25’ from centerline of North Riverside Drive

Waterfront  15’ (Confirm with City of Pompano Beach)

Site Plan Review               Site plan review required by Planning & Zoning Board

Residential Uses

Residential Density Allowed    

Special Exception Use permits 30 units per net acre, subject to units being available from flex allocations. Subject Property is located in Flex District 14. At time of review, District 14 has zero flex units available.

Minimum Size Residential Units

 Efficiency:        500 square feet

1 Bedroom:      650 square feet

2 Bedroom:    750 square feet

3 Bedroom:      850 square feet

Required parking

1 ˝ spaces per efficiency, 1 or 2 bedroom unit

2 spaces per 3 or 4 bedroom unit

 

COMPREHENSIVE LAND USE PLAN DESIGNATION

According to the City of Pompano Beach, Florida Future Land Use Plan Adopted June 20, 1989 and readopted November 26, 2002, Lots 19, 20 and 21 have an underlying land use classification of “Commercial”.

This land use designation is in conformity with the B-2, Commercial zoning designation.

ENVIRONMENTAL

According to a preliminary record search performed by Florida Department of Environmental Protection personnel, no environmental spills were identified from the records as having occurred on the Subject Property. There was a record notation of a tank being located and removed from Lot 19 of the Subject Property but no further records were available.

Environmental conditions identified in the record search were as follows.

2635 N. Riverside Drive - Hillsboro Inlet Marina Site

·                    Site of environmental concern located to north of Subject Property.

·                    Assigned Department of Environmental Protection Facility Number 068622382

·                    Identified a spill of petroleum fuel products that had to be remediated. 

·                    Tanks, located in northwest corner of property, had been taken out of service and filled with concrete in 1983.

·                   On August 22, 2000 the Broward County Board of County Commissioners, Department of Planning & Environmental Protection, Pollution Prevention and Remediation Division issued a letter to owners of the site indicating concurrence of consultant’s recommendations for “No Further Action”.

·                   On November 6, 2000 the Broward County Board of County Commissioners, Department of Planning & Environmental Protection, Pollution Prevention and Remediation Division issued a letter to the owners of the site indicating acceptance of the abandonment of monitoring wells and reclassifying the status of the site to inactive.

·                   On November 20, 2000 the State of Florida Department of Environmental Protection Agency issued a Site Rehabilitation Completion Order.

2509 N. Ocean Boulevard

·                    Site is the gas station site to the east of the Subject Property.

·                     Site assigned DEP Facility Number 068736553.

·                     Petroleum spills reported in 1995 and 1996.

·                    The Florida Department of Environmental Protection and Broward County Pollution Prevention & Environmental Protection agreed to a Natural Attenuation Monitoring Plan.

·                    Monitoring wells were installed and state programs contributed money to the effort. Levels of pollution decreased continually to levels whereby in January of 2003, Broward County Department of Environmental Protection indicated in a letter to site owner’s consultants that upon third quarter samples indicating contaminants below Groundwater Cleanup Target levels, that such report would act as a Site Rehabilitation Completion Report.

2608 North Ocean Boulevard

·                     The shopping center site located to the northeast of the Subject Property wherein a dry cleaner was known to be operating and prior to development of the shopping center a service station was operating. It is believed the dry cleaner had an earlier discharge of chemicals related to the operations of its business. No other documentation was found in DEP records.