Crystal Pointe Mobile Home Park Development Opportunity

MANUFACTURED HOME DEVELOPMENT - 94 SITES

Crystal Pointe Mobile Home Park Development Opportunity

DUNNELLON, FL

KW COMMERCIAL 708 E Colonial Drive

Orlando, FL 32803

OFFERING MEMORANDUM

PRESENTED BY:

MICHAEL FRY VP Investment Sales 407.284.7774 mike@mhc-

MARK ARNOLD Senior Associate 407.353.6391 marnold@ FL #BK3220138

OFFERING MEMORANDUM

Confidentiality & Disclaimer

DUNNELLON, FL

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party's intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party's active conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Orlando Central in compliance with all applicable fair housing and equal opportunity laws.

KW COMMERCIAL 708 E Colonial Drive

Orlando, FL 32803

PRESENTED BY:

MICHAEL FRY VP Investment Sales 407.284.7774 mike@mhc-

MARK ARNOLD Senior Associate 407.353.6391 marnold@ FL #BK3220138

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

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CRYSTAL POINTE MOBILE HOME PARK DEVELOPMENT OPPORTUNITY PHASE II - 94 HOME SITES

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Executive Summary

PHASE II SALE PRICE:$470,000

PHASE II:

94 Approved .25 AC Home Sites

PRICE PER UNIT: $5,000

PHASE III:

96 Approved .25 AC Home Sites

PRICE PER UNIT: $6,500

ACREAGE:

Both Phases 79.63

ZONING:

Manufactured Homes

TERMS:

Phases Can Be Purchased Independently Or In Bulk

MARKET:

Florida's Nature Coast

PROPERTY OVERVIEW Located within the existing Crystal Pointe manufactured home community, the Phase II development opportunity consists of Ninety-Four (94) to-be-developed manufactured home sites within the Crystal Pointe sub-division just north of Crystal River Florida. Design and create your own mobile home development community of land lease, fee simple or mixed units.

? Complete the park layout, site work and lot development. ? Lease individual home sites as an operating business. ? Re-sale the improved home sites to tenants or end-users.

Ideal for operator/investor/developer seeking an opportunity to create an attractive manufactured home residential community with total of 190 tree shaded home sites, HOA amenities, common areas, conservation areas, premium lots, hiking trails and plenty of Old Florida/Country charm.

Homes in photos are within the existingPCROryPsEtRaTl YPFoEinAtTeUsRuEbSdivision and are not included in the sale.

190 Approved Home Sites on 80 Acres

Within 110 Acre Subdivision

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Phases II & III Ready for Development

CRYSTAL POINTE MOBILE HOME PARK DEVELOPMENT OPPORTUNITY

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Property Description

PROPERTY OVERVIEW

The available acreage of the Crystal Pointe Mobile Home Community includes to-be-developed Phases II and III, consisting of 79.63 (+/-) acres of unimproved wooded acres with approvals for pre-platted home sites of approximately .25 acres each. Phases II and III are approved under a Citrus County Development agreement with 94 home sites in Phase II and 96 home sites in Phase III. The to-be-developed parcels will have use of the Crystal Pointe HOA recreational areas and an existing 5,500 SF clubhouse and 67,000 gallon heated pool. The to-be-developed community can be age restricted.

The current price for the 94 lots in the Phase II development is $5,000 per home site or $470,000. The price for the 96 lots in the Phase III development is $6,500 per home site or $576,000, comprising a total bulk sale price of $1,046,000. Phase I and Phase III can be purchased individually or as a combined purchase.

The development will be attractive to investors and developers and would be an outstanding opportunity for an on-site owner or retiree with experience in mobile home park management and development. The staged development of Phases II & III provide an opportunity of investment returns over multiple years. The re-development of Crystal Point Development properties would create an Old Florida/country oriented mobile home subdivision with large lots, HOA amenities, tree shaded common areas, conservation areas, premium lots and hiking trails.

LOCATION INFORMATION

The Crystal Point Mobile Home Development is located in east-central Citrus County, approximately 5 miles north of the City of Crystal River and approximately 8 miles south of Dunnellon. The property entrance is off of Citrus Blvd (County Road 495) approximately one quarter mile north of W. Dunklin Road. The immediate area is rural, undeveloped Central Florida. The community is located less than 4 miles from shopping in nearby Crystal River.

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CRYSTAL POINTE MOBILE HOME PARK DEVELOPMENT OPPORTUNITY

Complete Highlights

PROPERTY HIGHLIGHTS

? 190 Approved Home Sites on 80 Acres ? Phase II - 94 Home Sites ? Phase III - 96 Home Sites ? Within 110 Acre Subdivision ? Phases II & III Ready for Development ? Wooded Lots ? Zoning: Manufactured Homes ? Fee Simple Lots ? Optional Use: Age 55+ ? HOA Amenities: ? 5,500 SF Clubhouse ? 67,000 Gallon Heated Pool ? Common Areas ? Hiking Trails ? Florida's Nature Coast ? 4 Miles to Crystal River ? 10 Miles to Gulf of Mexico ? 50 Miles to Tampa ? 80 Miles to Orlando ? Investment Opportunity ? Comprehensive Development and Re-Sale Strategy ? Development of 2 Phases ? 190 Home Sites ? Re-sale of Developed Sites Individually or In Bulk ? Purchased and Developed Sites Can Be Rented

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CRYSTAL POINTE MOBILE HOME PARK DEVELOPMENT OPPORTUNITY

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Additional Photos

Homes in photos are within the existing Crystal Pointe subdivision and are not included in the sale.

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CRYSTAL POINTE MOBILE HOME PARK DEVELOPMENT OPPORTUNITY

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Location Maps

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CRYSTAL POINTE MOBILE HOME PARK DEVELOPMENT OPPORTUNITY

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Additional Photos

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