Guy Harvey Outpost is coming to an area near you!

A rendering shows some of the features at the planned Guy Harvey Outpost Club & Resort Tarpon Springs. Construction is expected to begin this summer.

A rendering shows some of the features at the planned Guy Harvey Outpost Club & Resort Tarpon Springs. Construction is expected to begin this summer.

BY: BETH LUBERECKI | CONTRIBUTING WRITER via Business Observer

Guy Harvey Outpost already has hotels in places like the Florida Keys, St. Pete Beach and the Bahamas.

Yet the outdoor-centric brand started by prominent artist, conservationist and sportsman Guy Harvey wanted to better reach freshwater anglers who make up a big part of its customer base. “We decided to start looking at how to bring the brand in-shore, away from the beaches to rivers, lakes and streams,” says Guy Harvey Outpost President Mark Ellert.

That led the Fort Lauderdale-based company to launch the Guy Harvey Outpost Club & Resort Tarpon Springs in south Pasco County. The project is Guy Harvey Outpost’s first outdoor hospitality resort community.

 

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Recent Apartment Sales on the Gulf Coast of Florida (Sarasota, Bradenton, St. Petersburg, Tampa, Clearwater, etc) 2017 YTD

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Picture representative of properties shown below – via S Dreznin

Contact Sean Dreznin at (941) 961-8199 or at srqcre@gmail.com to update any data or sales.

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Villa Vacilia Apartments in St. Petersburg, FL

SOLD May 2017

$990,000

9-units

$110,000 per unit (blocks from the beach)

Property Details:

9250 Blind Pass Rd
Saint Petersburg Beach, FL 33706

The property consists of one, two story building located on .41 acres of land. The building was constructed of concrete block and features a unique carport feature on the first floor of the building.

The unit mix consists of 6 1Bdr/1Bath apartments at 640 square feet, 2-2Bdr/1Bath apartments at 950 square feet, and 1- 2Bdr/1Bath unit at 1024 square feet. Residents of Villa Vacilia enjoy centralized heating and air as well as rentable storage units outside of their unit. The roof over the property was recently replaced in 2014, and rents are significantly below market for the surrounding area.

There is an ability to upgrade interior units and increase rents. The property enjoys significant additional income through renting storage space and carports which have little to no maintenance expense.

  • Year built:1974
    Units:9
    Square Footage:14,716 Sq Ft
    Lot Size:0.41+/-
    CAP Rate:6.51%

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North Tampa Portfolio

SOLD May 2017

$2,833,000

84-units

$33,726 per unit

Property Details:

– Currently 95% Occupied with Immediate Rent Upside
– Over 90% of the Units Have Ceramic Tile Throughout
– Two-Property Portfolio Located Within a Half-Mile of Each Other in North Tampa
– Value-Add Opportunity with Strong Cash Flow Potential Through Management Efficiency
– Located in the Densely Populated University Area Submarket
– Minutes From Three Major Employers in the Area, The University of South Florida, Busch Gardens and James A. Haley Veteran’s Hospital

Year built:1969
Units:84
Lot Size:1.34+/-

Unit Mix:

    • Units:16
    •   |  1Bdr 1Bath (Casita Bella)
    •   |  500 +/- Sq Ft
    • Units:44
    •   |  1Bdr 1Bath (Villa Amor)
    •   |  650 +/- Sq Ft
    • Units:24
    •   |  2Bdr 1Bath (Villa Amor)
    •   |  850 +/- Sq Ft

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 Oak Bend Apartments in Tampa, FL

1550 University Woods Pl
Tampa, FL 33612

SOLD January 2017

$6,700,000

112 units

$59,821 per unit

Property Details:

Oak Bend Apartments is a 112-unit garden style apartment community located in Tampa, Florida. The property consists of 15 residential buildings and 1 leasing office building spread across approximately 6.31 acres of land. The residential buildings are all wood frame with a pitched roof and each was constructed in 1986.

The unit mix at Oak Bend consists of 104 2Bdr-2Bath apartments (972 SF) and 8 2Bdr-2.5Bath apartments (1,268 SF). Each apartment home comes with two master-size bedrooms with large walk-in closets and private bathrooms, a large kitchen pantry, and valet trash service. Some of the apartments have beautifully renovated kitchens.

The community amenities include a swimming pool and sundeck area, brand new laundry facility, coffee cafe with Wi-Fi, and a remodeled fitness center. Presently over 30% of the units at the property have been completely renovated and 20% have been partially renovated, leaving significant room for rental upside and added value through the completion of the rehab projects.

Unit Mix:

    • Units:104
    •   |  2 Bed 2 Bath
    •   |  972 +/- Sq Ft
    • Units:8
    •   |  2 Bed 2 Bath, Townhome
    •   |  1,268 +/- Sq Ft

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Ringling College Apartments in Sarasota, FL

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1052 Indian Beach Dr, Sarasota, FL

SOLD May 2017

$2,195,000

26 units

$84,423

18 – 2Bdrm/1Bath

7 – 1 Bdrm/1 Bath units

1 – 3 Bdrm/3 Bath

Located directly across from Ringling College of Art, Design & Technology, this complex presented the buyer with a strong opportunity to capitalize on an under-served market with rents substantially below market.

Sold by Sean Dreznin & George Kruse of Ian Black Real Estate

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Gardenwood Apartments in Bradenton, FL

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3223 W. Third St, Bradenton

55-units

SOLD June 2017

$3,000,000

$54,546 per unit

built in 1980, rents studio, one- and two-bedroom apartments

Wood frame, one-story buildings

Located just North of Desoto Square Mall.

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Oakridge Apartments in Palmetto, Fl

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501 W. 14th St, Palmetto

144-units (Duplexes)

SOLD June 2017

$7,000,000

$48,611 per unit

all two-bedroom and one bathroom, average 620 square feet and rent for $625 per month. The complex was built in 1967

$5.6 million was seller financed

 

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The Bungalows on 50th in St. Petersburg, FL

2595 50th Avenue North in St. Petersburg, Florida

SOLD May 2017

$472,500

12-units

$39,375 per unit

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Holly & Pleasant Oaks Apartments

SOLD June 2017

$2,217,600

56-units

$39,600 per unit

13609-13613 North 20th Street in Tampa

The Holly property features 20, one-bedroom/one bath units with 550 rentable square feet and 14 two-bedroom/two-bath units with 600-650 rentable square feet in a total of 17 one-story buildings. The buildings were constructed in 1972 and are concrete block with a pitched roof.

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Thomas Street Apartments in Fort Myers, FL

2930 Thomas Street

SOLD June 1027

$1,225,000

32-units

$38,281 per unit

“Thomas Street offered a strong value-add opportunity for the buyer, who intends to reposition the asset through furthered strategic renovations.  It was this upside that enabled us to close within approximately 99% of the list price

 

 

Contact Sean Dreznin at (941) 961-8199 or at srqcre@gmail.com to update any data or sales.

 

 

 

 

Panel to Discuss Sarasota New Urbanism, Planning, Traffic Next Week

 

 

Panelists will discuss the New Urbanism planning philosophy, public approval for new developments, traffic and more during the next Sarasota Tiger Bay Club luncheon.

Panelists will discuss the new citizens’ group STOP!, the New Urbanism planning philosophy, public approval for new developments, traffic and more during the next Sarasota Tiger Bay Club luncheon. The panel will include STOP! member and Sarasota Planning Board member Eileen Normile, STOP! member Kate Lowman, architect and Planning Board member Chris Gallagher and traffic planner Damian Miller. The luncheon begins at 11:30 a.m. Thursday, July 6, with the panel beginning at noon. The event takes place at Michael’s on East, 1212 S. East Ave., Sarasota. Registration is $25 for Tiger Bay members and $30 for non-members.

The last great apartment complex available for sale in Sarasota, FL ~ Across from Ringling College & blocks from the Bay.

Source: The last great apartment complex available for sale in Sarasota, FL ~ Across from Ringling College & blocks from the Bay.

What to Look for in a Multifamily Investment Property

Presented by Sean Dreznin

Ext Neighborhood1

MULTIFAMILY INVESTING TIPS

via 100units.com

How to Find a Profitable Apartment Building Investment

Investing in multifamily properties is extremely rewarding and profitable for many reasons. Not only is the rental market currently very strong, but the potential to earn money is much greater in multifamily properties than single family properties. However like all real estate investments, the success of your multifamily investment property will depend heavily on a number of factors.

Before you start your search, here is what you need to look for in a multifamily investment property:

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Location – Where your apartment building is located will greatly affect the performance of your investment. Find information on local employment rates, per capita incomes, crimes rates, and types of crime. Knowing your potential renter demographics will allow you to determine whether the property will be a good investment.

Cash Flow – Like any smart investor, you want the largest possible profit margin for your rental properties. Don’t rely on the advertised or published capitalization rate and instead, conduct your own property analysis to make an educated decision.

Capital Improvements – One of the things you should also look for is capital improvement opportunities. Look for easy, low-cost replacements or improvements that will quickly boost the value of your property and earn you a better ROI.

Price – Of course, even if you find a property that has great location and cash flow, the success of your investment will depend on your initial purchase price. Make sure you do your research or consult a multifamily expert to avoid overpaying on your multifamily investment property.

 

As an experienced multifamily sales agent, apartment owner and former property manager, I know that buying apartment buildings can be a challenging process. Our team of multifamily property investment advisors are experienced in providing investors like you with the confidence and peace of mind that only comes from working with highly-driven and passionate multifamily property investment advisors. If you are interested in acquiring an apartment building on the West Coast of Florida from Naples North to Tampa or Central Florida from Lakewood Ranch to Orlando, contact us today and allow us to tell you exactly how we can help you secure a profitable property at the right price.

 

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The remodeled El Patio Apartments near the bayfront in Bradenton. A classic building with character!

Top Tech Tools Driving the CRE Industry

business cycle

 

MAY 9, 2017

Marketing Tools

Technology changed how real estate marketers present client properties. Thanks to virtual reality, a buyer no longer needs to see a space in person before initiating an offer. VR technology captures spaces with incredible detail. Buyers tour properties anytime from anywhere. Augmented reality is equally exciting because real estate marketers can impose a client’s branding into a space to show them the potential. A report on virtual reality by Goldman Sachs estimated the real estate market will represent $2.6 billion of VR/AR use by 2025. Top industry VR/AR providers include Matterport and VR Global.

Certain commercial spaces may be better represented through drone photography. This is especially true for spaces where marketing potential retail locations would benefit from an aerial sense of the property’s placement amongst the surrounding amenities. These video tours are marketable across numerous platforms, social and MLS.

The most essential tool agents and brokers rely on is an intelligent customer relationship management solution (CRM). Today’s CRM solutions either offer marketing options or integrate with other marketing software providers. Agents use CRMs to better market properties to the right potential buyers, set up drip email campaigns, chase leads, and much more. Top CRMs built specifically built for the commercial real estate industry include AptoClientlook, and REthink CRM.

 

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Real Estate Listing Tools

In a 2016 survey by theBrokerList and Buildout, 72% of respondents said they regularly used listing tools. Exposing a listing to as many potential buyers or leasing representatives increases chances of success. New service providers aid both ends of the spectrum: the agents that need to promote and the clients searching for the right location. Take Digsy. These experts help those searching for commercial real estate find the right space. RealMassive streamlines an agent’s marketing efforts and keeps them in charge of the listing information. Loopnet and Commercial Search are two other top providers of commercial real estate sale and leasing information with additional marketing opportunities.

Big Data for Real Estate

The power of big data unlocks actionable steps real estate professionals use to maximize their efficiency and success rate. Over 72% of commercial firms encourage the use of comparative market analysis software, according to a 2016 profile of real estate firmsVTS is a leading leasing and asset management platform for a reason. The real-time access to data and market intelligence generates easy-to-use reporting for better decision making. Compstak is another provider of real estate data. Using the power of crowdsourcing, Compstak helps researchers, lenders, investors, and other real state representatives find and trade the comparables they need. Other data and analytics service providers like REIS and Real Capital Analytics (RCA), apply market intelligence to vacancy rates, rent levels, new construction, and more to guide brokers and agents.

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Software to Improve Efficiency

Commercial real estate professionals no longer need to visit a central office every day to conduct business. Smartphone apps allow us to schedule appointments, sign and send contracts, search listings, and complete other work for our clients. The majority of marketing and CRM providers have mobile apps or online access. A few other mobile tools assist for real estate agents stay productive on the go. Lease Matrix provides lease analytics in minutes. 360 Panorama stitches together 360-degree photos of a space using a phone. Document signing apps like dotLoop and DocuSign make it easy to electronically signed documents from anywhere. Other non-industry specific tools like Evernote keep real estate professionals organized or allow for digital document storing and sharing like Dropbox.

Click here for complete article and others <——————-

HOW TO LEAD A DOMINATING COMMERCIAL REAL ESTATE TEAM

tara bay CC sunset - by Richard Bottorff

Via Massimo-Group

By Rod Santomassimo

Teams built to dominate must have someone who elected to the lead. Someone has to get the ball rolling; someone has to raise their hand and decide “it’s my turn” or “I know that leveraging other talents will be better for my clients and better for me and my family”. Perhaps, this is someone who left one firm to start their own, or someone who suggested to a peer in the next cubicle that they should work together.

4 COMMON ELEMENTS TO LEADING A TEAM BUILT TO DOMINATE

Teams built to dominate have strong leadership.

Great teams don’t happen by accident. There must be a leader who creates the team and then makes sure there’s a reason for them to stay together. Think about the system in your car. There are lots of parts. There’s the engine, the brakes, the gas; however, for the car to start, you need the ignition. Teams built to dominate are led by leaders who ignite the actions of others.

Teams built to dominate have a leader or leaders who are willing to adapt.

Many times, team leaders have to let go of behaviors that used to work for them in order to lead a team effectively. Remember, just because you can do some particular task better or faster than someone else, it won’t make you wealthier.

Teams built to dominate have a leader who took a risk.

To lead and lead effectively, you need to give something up. Initially, it may be your personal time. However, leaders are almost always taking a significant financial risk. I have worked with team leaders to have walked away from 95% of their business, while others willingly provided their new partners with 50% of their business simply on the belief that things will work out. In their early 20’s, Bob Knakal and Paul Massey walked away from a successful practice at a national platform and decided to form their own team. Last year they sold their firm for a reported $100 million to Cushman & Wakefield. Yes, significant risks can have significant rewards.

Teams built to dominate may have more than one leader.

The leaders on teams built to dominate are committed to teaming. Notice I said “leaders.” There can be multiple leaders on a team, or, more specifically, champions for each role within a team. They believe that an effective team is the best way to succeed both today and tomorrow.  That means they look for ways for team members to work better as a team.

For complete article and others or conferences, books, etc, CLICK HERE<————–

A 26-unit apartment complex near the Ringling College of Art & Design in Sarasota, FL has been sold for $2.195 million.

 

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Developer Harvey Vengroff sold the Indian Beach Apartments, which includes a 16-unit, two-story apartment building, a three-bedroom house, a one-bed house with pool, four one-bed cottages and two two-bed duplexes.  Sean Dreznin handled the sale of the property.

Vengroff’s West 32nd LLC sold the complex to Ixora LLC, a Sarasota company headed by Malcolm Stevenson.

“As we expand throughout Florida, the time was right for us to sell this property,” said Vengroff, whose One Stop Housing provides affordable housing in Sarasota and Manatee counties. “This is a great property with upside potential, and we expect the complex to continue to be an important part of the community.”

The complex, on Indian Beach Drive just west of North Tamiami Trail, is 100 percent occupied with a consistent waiting list, according to a news release.

“The multifamily market is extremely dynamic in Sarasota right now, and as a result we saw a good amount of activity with this property,” said Sean Dreznin, a sales associate at Ian Black Real Estate who represented the seller. “We expect this trend to continue as multifamily properties continue to be a desired asset.”

Vengroff is seeking city approval to build a 368-unit affordable housing rental complex on Fruitville Road east of downtown.

George Kruse of Ian Black also represented Vengroff in the sale of the apartment complex.

Click here for complete article <——————

Contact us here for more properties like this or to discuss your property!

Take a virtual trip on the new University Parkway/I-75 Diverging Diamond

 

CLICK HERE <—————–

I-75/University Parkway Diverging Diamond Interchange Design – YouTube

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Interactive map of dining spots in downtown Sarasota

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Click Here for interactive map of downtown Sarasota’s hottest dining spots!