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THE OFFERINGBlueGate Partners, LLC (“BlueGate”) has been retained by the owner (the "Owner") regarding its sale of the fee simple inter-est in the Market Place of Stuart Development Parcel located on the west side of U.S. Highway 1 at the western terminus ofSE Miami Avenue in the City of Stuart, FL (the “Property” or the “Site”). The Site totals approximately 22.77 acres and hasapproximately 950 linear feet (“lf”) of frontage along U.S. Highway 1. The Site is currently zoned Commercial Planned UnitDevelopment (“CPUD”) by the City of Stuart. The CPUD would allow up to 152,300 sf of retail development which couldinclude as many as five outparcels.
EXCEPTIONAL RETAIL DEVELOPMENTINVESTMENT OPPORTUNITY
Exclusively Offered By
Investment Highlightsv Premier Commercial Parcel – The Site is located adjacent to a Lowe’s Home
Improvement Center to the north, Audi Stuart dealership and Advantage Forddealership to the south and a Wal-Mart Super Center to the east. In addition, thecurrently vacant parcel at the north-east corner of U.S. Highway 1 and SE MiamiAvenue has recently been purchased and is intended for the development of anAldi grocery anchored shopping center.
v Exceptional Location Along U.S. Highway 1 – The Property is located on the westside of U.S. Highway 1 at the western terminus of SE Miami Avenue, approximatelyone-half mile south of Indian Street and one-quarter of a mile north of SE PomeroyStreet and abutting the property line of the Willoughby Country Club to the immedi-ate west. Average daily traffic count at the intersection of U.S. Highway 1 and IndianStreet is the highest rated in Martin County, south of Monterey Road at 43,349 perday.
v Retail Demand – According to Claritas there is over $8.25 million in retail salesdemand for the one-mile radius and over $1.66 billion in retail sales demand forthe five-mile radius. Currently this demand is being serviced by dated retail cen-ters, as Costar reports that only 38,000 of retail space has been delivered to theMartin County Submarket since 2011.
v Favorable Zoning Designation and Approvals – The Site is zoned CPUD by Stuart,which allows a diversity of retail, residential, and commercial improvements includingmultifamily dwellings, big box retail, community shopping centers, office buildings and mixed use developments.
v Favorable Demographics – Since 2000, the population within a one-mile radius of the Property has grown by more than 30 percent from4,306 people to its current estimated level of 5,604 people according to the US Census. The average household income within a one-mileradius is $67,809, which is over 33 percent higher than Stuart income level of $50,762, and 4.8 percent higher than the State level of$64,673. Within a one-mile radius of the Property total households have increased from 1,625 houses in 2000 to the current estimated levelof 2,063 homes; a significant increase of approximately 27 percent.
v Well Performing Economy – While the unemployment rate in Martin and St. Lucie Counties has inched up over the past four months to its cur-rent level of 6.4 percent, it is down significantly from the peak unemployment rate. Since November 2010, the unemployment rate has droppedfrom 13.0 percent to 6.4 percent, a decrease of 50.7 percent. Further, during that same time frame almost 14,000 jobs have been added to theMartin County and St. Lucie County economy.
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Bluefield
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he Grove Beach
Marcy
Zana
Indiantown
Arundel
Carol Gardens
Gomez
Florida's Tpk.
Glades
Cut-o
ff Rd.
Seminole Shores
North River Shores
Ankona
White City
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SavannasPreserve
State ParkSt. James
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St. Lucie InletPreserve State Park
JonathonDickinsonState Park
Florida Clubat MartinCounty
MartinDowns
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CobblestoneCC
PipersLanding
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Glidden Park
Indian River Estates
EdenCana
Carlton
Hobe SoundJupiterIsland
Stuart
Jensen Beach
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Port St. Lucie
Fort Pierce
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Port SalernoGolden Gate
Bessemer
Sand Cut
Canal Point
Tequesta
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North PalmBeach
Palm BeachGardens
JunoBeach
JupiterWest
Jupiter
Rood
Delta
Pahokee
PelicanLake
Port Mayaca
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M a r t i nC o u n t y
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Exit102
Exit 133
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Orange Ave.
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Martin Hwy.
PGA Blvd.
SR710
PipersLanding
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PGACountry
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SavannaClub
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Indian RiverCommunity College
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Old Fort Park/Indian Hills CC
Bluefield
Dairy
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MILES
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North Palm BeachCounty Airport
Witham FieldAirport
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PalmCity
Exclusively Offered By
ERIC M. BYLIN, Managing Partner CRAIG J. CALLAWAY, Senior Vice President MARK A. DELILLO, Managing [email protected] [email protected] [email protected] 561.655.1742 561.655.1748 212.381.7606
PALM BEACH NEW YORK420 Royal Palm Way, Suite 310, Palm Beach, FL 33480 1450 Broadway, 30th Floor, New York, NY 10018Tel: 561.655.1743 • Fax: 561.655.1745 Tel: 212.381.7612 • Fax: 917.591.9696
BlueGate and the Owner make no warranty or representation, express or implied, to the accuracy of the information contained herein. The information has been submitted in good faith subject tothe possibility of errors and omissions; change of price, rental information or other related Property information; or, withdrawal without notice. Purchasers should rely solely on their own independ-ent analysis, due diligence and verification of Property information. Prospective Investors agree that BlueGate and the Owner shall have no liability to the purchaser or purchaser’s representatives oragents resulting from the use of the information contained herein or distributed by BlueGate and the Owner in the future.
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Linear Front Average DailyType Approved SF Acreage Feet (LF) Traffic Count Zoning Location
Specialty grocery 45,000 22.77 950 43,349 CPUD West side of U.S. Highway 1General retail 87,300 at the western terminus of Fast- food restaurant 4,500 SE Miami Avenue, StuartCoffee shop with drive- through 3,000 FLHigh turnover restaurant 12,500
Total 152,300
The following table outlines the salient features of the Property:
