Seeking $685k Private Money For Single Tenant Development Project. Projected ROI Upon Sale is 83%-100%+

[Dmitriy Shnitman]

We are currently seeking a Limited Partner to provide funding for a single tenant development project in Pompano Beach, FL, and future net lease development projects throughout Southern Florida. 

Project Summary: 

We currently have a 1.34 Acre (194' x 301') rectangular lot under contract in Pompano Beach, FL. It is located on a heavily trafficked road (34,500 VPD+) around a dense mix of residential communities, national retailers, and entertainment services.

The Seller has agreed to sell us the site significantly under market value due to the fact that lot is not platted.

The site is perfect for a QSR tenant(s) w/drive thru, automotive, or dollar store. 

Our Goals:

-The first step is to close on the property and begin the platting process. I have spoken with an established engineering firm that has performed extensive work in this municipality, and received a timeline of 9-12 months to complete this process (my team will oversee whole process from meeting with city/county officials and coordinating with engineers that everything will be completed within 12 month time frame). 

-Concurrently with the platting process, my team will market the property to potential tenants. The marketing flyer is already completed, and I was in Las Vegas for the ICSC RECon Conference and spoke with several QSR, auto, dollar store tenants who expressed great interest in the site. I have already sent them all the pertinent information and they are currently conducting their own due diligence on the site.

-We are currently looking for a long term ground lease for the site (15-20 year initial term, with renewal options) with a credit tenant, and asking a very aggressive $1.50 per SF (surrounding comps for retail zoned lots are $1-5 per SF). My team will negotiate the rents and terms with the tenant, and work with our attorney to execute a lease agreement. 

-Once a lease is executed, we are looking to market and sell the net lease investment. Based on a 7% cap rate, the ROI on this project would be 83%, but QSR, auto, and dollar store tenants with brand new 15-20 year NNN leases are trading between 5-7%, so the actual realized ROI could be much higher .

Contact me to discuss in more detail, and receive the marketing flyer, and proforma of the project that details all projected cashflows for your review. 

Best Regards,

Dmitriy Shnitman