Palma Sola Bay Club | An Ongoing Development Investment Opportunity

Multi-Family for Sale
Catylist Listing ID: 30622667
Property Subtypes: Low-Rise/Garden
Building Status: Under Construction
Number of Units: 72 Units
Building Size (RSF): 16,113 SF
Gross Building Area: See Agent
Sale Price: See Agent
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/27/2020

Overview / Comments

72 Total Units Remaining

Cash Flow projections reflect $8.4MM of Net Profit to Investor through remaining life of the project

$10MM Vertical Loan Facility with Flagstar Bank

Existing GC Company ZMG Construction has GMAX contract to build out remainder of condo buildings

Multiple Parade of Homes Award Winner in 2017-2020 | 2017 & 2020 Best Overall Community

Attachments & Media

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee County
Tax ID/APN: 5157302109
Zoning: PLANNED DEVELOPMENT-RESIDENTIAL (PD-R)
Community Amenities: Outdoor Pool, Recreation Room, Exercise Room
Property Located Between: Cortez Road & 75th Street West
Area Description: Palma Sola Bay Club is located in Bradenton, Florida, a mid-sized city on the Gulf Coast of Florida. Manatee County is south of the Tampa/St. Petersburg area and north of Sarasota. The community is conveniently located off 75th Street between Manatee Avenue and Cortez Road and sits on the east side of Palma Sola Bay. The luxury condominium community located within a 10-minute drive from the splendor of Anna Maria Island. Bradenton is known for its miles of pristine beaches and gorgeous weather year round. The beaches include Anna Maria Island, Bradenton Beach, Holmes Beach, Coquina Beach and many more. Siesta Key, America's #1 rated beach is also nearby. In addition, Palma Sola Bay Club is close to many amenities, including Downtown Bradenton, Downtown Sarasota, Lakewood Ranch, UTC Mall and Ringling Fine Arts Museum. There are many highly-rated golf courses within a short drive from the property, as well as many other outdoor recreation activities.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,090 52,441 132,919
Median Age: 55.28 50.79 47.36
Households: 3,977 24,692 60,215
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