7841 Pines Blvd
Pembroke Pines, FL 33024 Boulevard Heights East

THE "PAID-TO-WAIT" CARRY ANALYSIS (Pre-Development)
Here is the current retail income that handles the debt service while you permit the 350 units.
Acquisition Price: $25,000,000
Acreage: 8.86 Acres 
Land Basis: ~$64/SF (Strategic Entry)
In-Place NOI: +/- $1,100,000
Debt Service (Interest Only @ 7%): $1,225,000 (Assumes 70% LTC)
Net Carry Cost: ~$125,000/year (Virtually self-funding land bank in a core-plus corridor).