1800 E Atlantic Blvd
Pompano Beach, FL 33060

48+ Million profit potential. 200+% ROI. Atlantic One is potentially the largest land assemblage (5 acres) with approvals for 304 residential units in such close proximity (10 blocks) to the Atlantic Ocean. ATLANTIC ONE is a mixed-use project with 304 luxury residential units and 10,653 sqft of prime retail in 308,000 leasable square feet of buildings situated on 5 ACRES of land just 10 short blocks from the Atlantic OCEAN! The site is comprised of almost 3 entire CITY BLOCKS and 8 folios/parcels with multiple street addresses. Directly situated on Pompano Beach’s primary and most exclusive artery, the famous Atlantic Boulevard! Site is comprised of a combination of apartments, lofts, townhomes, and retail. Amazing profit potential for savvy investor. Located in exclusive Pompano Beach which is the hottest markets in South Florida with several billion dollars of new investments. This is potentially the largest land assemblage of this size with approvals in such close proximity to the Atlantic Ocean, comprised of this valuable zoning. Site Plan approved with a signed Development Order. Bank Appraised in 2021 for 17.6 Million dollars. Previous appraisal for 16.9M in 2018. A large number of affluent and middle-class families from New York to California are migrating to South Florida in mass numbers. The trend is expected to continue for the next few years. Housing inventory as a result is also way down and few residential development sites in prime locations. There are also no other 5 acre sites or anything remotely this size available so close to the Ocean in South Florida. This project should sell fast to a savvy buyer with a tremendous upside profit potential of 48 million dollars! ** The ROI on this project is over 200% with a 48 million+ dollar potential development profit (SEE PRO FORMA) - This project from a development standpoint would easily work at a 25M-30M dollar acquisition price. The development value (48 Million dollars) was not factored into the appraisal which was strictly based on a land value evaluation. Based on the various factors dictating the ROI, Atlantic One could potentially sustain a land value of 25-30 Million dollars using similar parameters to vertical construction projects. CONSTRUCTION. Aside from the appeal of having 5 full acres in a suburban neighborhood, the close proximity to the beach and directly situated on the primary road Atlantic Blvd., and being in a hot Pompano Beach market, etc., the construction costs are also favorable due to the overall efficiency being superior to most buildings in this class based on the lower gross square footage, nearing a ** 70% efficiency**. Almost 10% of the units are liner three story townhomes which have close to 100% efficiency since there are no common areas. Furthermore, since the buildings are situated on the 5 acres, there is only one level of structured parking, with most of the parking accommodated on the ground floors, translating all-around to a big savings in construction costs by not having to build a large parking garage structure, which the city would rather not see since this is in a high-end residential neighborhood with waterfront homes directly behind the project with prices in the 750k-1 million dollar range. The strong rents, the high-dollar demographics and the building efficiency provide for one of the better ROI’s in the industry. Less than half the cost of a Highrise podium structure for a substantially higher profit. There are detailed proposals from two well-known National Builders, both ranked in the top five in the State of Florida. RENTAL COMPARABLES. The rental comps are very strong, reflecting an overall blended rate for Atlantic One of $2.8/sqft based on the size and percentage of the various unit types. Atlantic One has a very desirable unit mix with premium size to square footage rents. The *Envy* and the *Moira* projects are two new projects within a 10 block radius that are of comparable standards. They are mostly already leased up. The studios and ones for new product of this caliber (all within a 10 block radius) are achieving at or above $3/sqft and the 2&3 bedrooms range from $2.2/sqft-$2.5/sqft. Comparables are included upon request. The pro form provided is based on a more conservative rents even though the market reflects a tremendously higher yield. Envy is located at 475 SE 1st St, Pompano Beach, FL 33060 about 10 blocks away and on Atlantic Boulevard which is a good comparable since it is the only other project currently on Atlantic. There are a total of 214 rental units. Incidentally, we feel Atlantic One is a much better location than KOI/Envy which is located west of the site in a more industrial, rougher neighborhood and farther from the beach. The Moira a new development located at 601 N Federal Hwy, Pompano Beach, FL about 6 blocks away. ** Another consideration to keep in mind is that the rental rates for Atlantic One will likely be EVEN higher (currently using 2021 rental rates for a 2023 product) as a factor of time considering completion of Atlantic One is approximately 1.5-2 years into the future, where there will be no more land deals to speak of nor any new projects of this size in the subject market, based on limited inventory and few development sites available, if any, the rents will naturally continue to progressively escalate above current numbers, even though current rents are already quite strong. DOCUMENTATION. All documentation is available upon execution of a purchase agreement in a Dropbox format, including ARCHITECTURAL PLANS comprised of 51 pages and 117 MB. Also including are current environmental phase I, surveys, boring and drainage tests, traffic study, school capacity letter, architectural, landscape and civil engineering plans and the contact information for all of the disciplines involved in the project approvals including the prominent zoning attorneys and architect, engineering firm, along with several construction proposals from nationally recognized contractors, etc., which should facilitate an expedient and full understanding of the project. Interesting new article: ?Pompano Beach, Florida had the highest rent increase in the US over the past year – Miami Herald. April 8th, 2020. Rent is increasing more in this North Broward city than anywhere else in the Country. ** The ROI on this project is greater than 200% with a 48 million+ dollar potential development profit. ** No other approved project of this size or value available anywhere in Pompano Beach. ** Potential to double your money. Tremendous profit upside ** Bank appraisal for 17.6M based on 304 units and 10,653 sqft of retail. ** Approval took over 2 years and countless hearings. ** Over a Billion dollars of new construction in Pompano Beach. Values expected to continue to rise. ** One of the hottest markets in the United States