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Land Sale No.2 (Cont.) <br /> Topography Level, road grade <br /> Utilities All to site <br /> Shape Rectangular <br /> Land Size Information <br /> Gross Land Size 0.732 Acres or 31,900 SF <br /> Front Footage Collins Avenue; Atlantic Boulevard <br /> Indicators <br /> Sale Price/Gross Acre $10,241,379 <br /> Sale Price/Gross SF $235.11 <br /> Remarks <br /> This is the sale of an existing McDonald's fast food restaurant located along the west side of <br /> Collins Avenue in Sunny Isles Beach. The property is encumbered by a lease and the current <br /> extension period is scheduled to expire in March 2017, although additional extension options <br /> remain. The purchase price of$7,500,000 results in an overall rate of return of less than 1% <br /> based on the annual rental amount of$65,000, and thus the price paid was predicated on the land <br /> value and the site's redevelopment potential. <br />