EXECUTIVE SUITE & OFFICE COMPLEX - UNIQUE RENOVATION PROFIT OPPORTUNITY 40,950 leasable sqft in 6 buildings on 6.46 acres, plus 1 extra acre of land for 2 more buildings (another 24K+ leasable sqft) * FULL 3% COMMISSION to Cooperating Broker (YOU) BIG PROFIT POTENTIAL FOR THE RIGHT BUYER Projected EGI Income rental yield of $1,256,589 income Based on a 6 cap rate (renovation) = $20,943,150 value ROI potential on investment 621%!!!! The occupancy rate in Fort Myers is over 94% - See Attached NAR Report The project is strategically located in Fort Myers near the vibrant downtown and the river water frontage. I. SUMMARY Key West Professional Center - Renovation Development Opportunity w/ substantial upside The Center is a relatively high-end office complex which was built in 1986 and consists of 8 two-story office buildings. The project was never completely finished (includes plans for two additional buildings ). This unique project, unlike the typical office product, is designed in a Key West archi-tectural style to include individual balconies, rooftop atriums, metal roofs, windows, all in a very relaxed expansive setting. Hence the name Key West Professional Center. The project is strategi-cally located in the City of Fort Myers near the vibrant downtown and the river waterfrontage. The current owners have owned the majority interest in the Key West Professional Center since December of 2012 for over 12 Years, primarily as a land bank. Their interest is comprised of 40,950 leasable sqft on 6.46 acres including the one remaining extra pad space for 2 more build-ings. The project is located at 1342 Colonial Blvd., Ft. Meyers, FL 33907. Buildings BCDE are a part of the association, while the other four buildings are non-association in-dependently owned. Since the current owners are the majority owners of the entire project, ac-cordingly, they have final voting say in all association matters, including the future direction of the project. The association is a nonfactor. The current owners also own two of the independent buildings F&K and the majority interest in BCDE, including almost two entire buildings in the sec-ond grouping. The current owners also own an extra valuable 1 acre parcel which was designed for the final two additional buildings. Building G (to the left) is owned by an accounting firm. They paid close to 1 million dollars 18 years ago. Enclosed is also a site plan showing the units involved in the sale. II. AERIAL / PHOTOS Below is an aerial view of the project with the designated buildings and extra development land included. The project is strategically located in Fort Myers near the vibrant downtown and the river water frontage. Key West has one of the highest upside margins in the market, with the conversion of just one extra building to the executive suite model and adding 2 new buildings. III. UPSIDE Keep in mind that there has been no aggressive leasing on the site and more than 50% of the units are currently vacant. This asset has been a “land bank” (we will get to it later situation) since it has been one of the smaller projects in this investment firm’s portfolio at the time. There are two combined strategies in place for turning this project into a substantial upside oppor-tunity. There is only one executive suite building at present time. The group was planning on reconfiguring several more of the buildings into executive suites. Building K is already an executive suite building with a full-time receptionist and full amenities in-cluding a large conference room and all the standard services provides in a typical executive suite setting. The support staff is already in place. There are already 7 units rented between $30 to $43/sqft. The projected rents should average $40/sqft range once renovated. Building K consists of 38 units and can incorporate an additional 6 units for a total of 44 units. See attached units in K already rented over $30/sqft . Enclosed are the building plans. Refer to Page 6, Building K (the only executive suite building in the project at present). Typical two-story building with all the unique Key West elements. The tremendous value is in converting several more buildings into executive suites. In addi-tion, constructing two more executive suite buildings on the extra land. IV. INCOME (1) BCDE - Buildings B, C, D and E. They are comprised of 21 condos. One entire building (E) and the other three partial buildings, with one missing only one unit, Building (B) and the other two (C and D) owning downstairs floors for a total of 21,578 sqft per tax rolls at $18/sqft = $388,404 PGI x .95 occupancy = $368,983 EGI - 35% OE = $239,839 NOI (first 4 buildings). Since the group owns the majority of the units in the project, they have complete control of the condominium. (2) F&K - Buildings F&K and an additional 1 acre of land were never condominiumized and are all included under one strap number. The executive suites (Building K) with 10,291 usable square feet x $40/sqft = $411,640 PGI x .95 occupancy = $391,058 EGI - 35% OE = $254,188 NOI - this is just for the K building. Including building F when converted, the two buildings F & K would gener-ate $254,188 NOI x 2 buildings = $508,375 NOI (2 executive suite buildings, F & K) (3) One extra acre of land - zoned to build 2 additional buildings. $800,000 land value (400k per buildable lot). 1 million to build each ($100/sqft) = 2 Million dollars, should produce another $508,375 NOI. The overall consolidated value for the existing 6 buildings with their projected NOI’s of $239,839 + $508,375 = $748,214 NOI The two new executive buildings to be constructed would yield another $508,375 NOI For a total NOI of $1,256,589 total income V. PROJECTIONS (8 buildings - Incld 2 new bldgs.) EGI yield of $1,256,589 @ 6 cap = $20,943,150 finished value (includes the two new additional buildings for 8 buildings) Expenses Renovation of overall project and conversion of building F to exec. suites $1M Development of two 10k sqft executive buildings $2M. * Overall Purchase Price for the entire offering of 8 Million Dollars. Expenses (including renovating all the building and construction two additional building) = $11M A finished value of $20,943,150 - $11,000,000 expenses (including renovation and new construc-tion) = $9,943,150 upside profit SIX times the original cash investment. RETURN ON INVESTMENT * The acquisition and renovation of the project would likely be financed by a prospective buyer, substantially reducing the capital expenditure and increasing the ROI. * 20% down on purchase for 1.6M capital investment, 100% institutional financing on the renovation and construction, since completed in multiple phases. ROI of $9,943,150 /1.6M x 100 = 621% RETURN!!!! * New construction can further be phased in after exiting project is completed.