investment offering memorandum 1761 acres investment opportunity ...
INVESTMENT OFFERING MEMORANDUM 1761 ACRES INVESTMENT OPPORTUNITY FOR SALE
NED
W KO
BAN
Indian Ridge A PARTIALLY COMPLETED GOLF COURSE COMMUNITY WITH EXCESS LAND 30 Minutes from Downtown Oklahoma City Blanchard, Oklahoma
www.cbre.com/indianridge
Property Overview
LAND DESCRIPTION Indian Ridge contains a total land area of 1,762 acres, which is located along the north side of U.S. Highway 62, 2.5 miles west of the CBD of Blanchard, Oklahoma. The property is within the corporate boundaries of the City of Blanchard and is located in Grady County. Phase One of Indian Ridge is 883 acres, which is comprised of 198 partially completed residential lots and a partially completed golf course. Estimated cost to complete the development lots and the golf course is $2,800,000.
Property highlights Visitors have described Indian Ridge as a special piece of land. “The rolling hills with the views, trees, grasslands, ponds, winding roads, and Walnut Creek provides a lot of character.and makes this a trophy property.” • 1.25 miles of frontage on Highway 62 • 30 minute drive from Downtown Oklahoma City • An abundance of wildlife including Whitetail Deer, Wild Turkey, Quail, Coyotes, and water fowl.
IMPROVEMENTS DESCRIPTION • 10,688 SF wood frame maintenance building is located in the northwest corner of Phase 1. • A 1,200 SF wood frame storage building with wood siding and gable roof is located adjacent northeast of the maintenance building. • There is a double-wide modular home that was utilized as the information/sales office for the Indian Ridge MPC that can be used as a house for guests or caretaker. • A pump station building is located near the irrigation storage lake. • Paved roads on the southern half of the property • Concrete pathways • Stone masonry guard shack and entry feature • 12” city waterline • Irrigation lines • A concrete slab and vertical steel supports are in place for a clubhouse building.
Dave Markle, Land Specialist CB Richard Ellis | Oklahoma 1401 S. Boulder Ave., Suite 100 Tulsa, OK 74119 T. 918.665.3830 F. 918.663.6402 [email protected]
MODULAR HOME
MAINTENANCE FACILITY
2
AERIAL PHOTO
Indian Ridge | Blanchard, Oklahoma
3
Original Development Concept
Dave Markle, Land Specialist CB Richard Ellis | Oklahoma 1401 S. Boulder Ave., Suite 100 Tulsa, OK 74119 T. 918.665.3830 F. 918.663.6402 [email protected]
4
REDEVELOPMENT OPPORTUNITIES
POTENTIAL REDEVELOPMENT OPPORTUNITIES • • • • • • • •
Private Estate Corporate Retreat Equestrian Community/Ranchettes Hunting and Recreational Preserve Destination Community Investment Cattle Ranch Horse Farm
Indian Ridge | Blanchard, Oklahoma
5
Location and Access
LOCATION & ACCESS Indian Ridge is located on the North side of Highway 62, 2.5 miles west of the CBD of Blanchard, in Grady County, Oklahoma. Blanchard lies in the west sections of McClain County and the east sections of Grady County. McClain County is located in the central portion of the State of Oklahoma. It is approximately 24 miles southwest of Oklahoma City, 117 miles southwest of Tulsa, and 170 miles north of Dallas, Texas. Access is provided by US Highways 62, 77, and 177 and State Highways 9, 24, 39, 59, 59B, 74, 76, and 102. Interstate 35 also bisects the county from the north to south through the center of the county and provides excellent access to Oklahoma City and other areas throughout the state of Oklahoma.
Dave Markle, Land Specialist CB Richard Ellis | Oklahoma 1401 S. Boulder Ave., Suite 100 Tulsa, OK 74119 T. 918.665.3830 F. 918.663.6402 [email protected]
6
Investment Highlights
OFFERING • Priced at $3,800,000 which is below the 2009 appraisal of the land, without improvements. • Seller financing available with strong credit and equity.
SUMMARY Potential for substantial tax savings together with an excellent redevelopment opportunities make Indian Ridge an extraordinarily strong investment for buy and hold.
TAX DEFERRAL STRATEGY All or parts of Indian Ridge can be placed into one of several types of conservation easements which feature the following: • Owners could still retain perpetual rights to the land for hunting, fishing, equestrian trails and other uses which are not inconsistent with conservation purposes. • The IRS will allow owners charitable deductions for the appraised value of the land donated which can be carried forward over five years. • The recipient of the conservation easement could be federal or state agencies or other non-profit organizations. The land could be divided into multiple easements among a number of recipients at different times in the future.
Indian Ridge | Blanchard, Oklahoma
7
Area Highlights
AREA HIGHLIGHTS • Oklahoma City’s unemployment rate for May 2009 is 5.8% versus 9.4% nationwide. • Bizjournals.com ranked Oklahoma City 4th in a review of the least stressful cities in America. • Oklahoma City was ranked by Forbes Magazine as America’s Most Recession-Proof City due to falling unemployment, a strong housing market in the country, and strong growth in agriculture, energy, and manufacturing. • Oklahoma City placed 4th on the Forbes.com list for Best Cities for Commuters. • The “Today Show” ranked Oklahoma City No. 28 of the 100 Best Places to Raise a family. • When judging which cities among the country’s 200 largest are the most successful in creating and keeping jobs, the Milken Institute ranked Oklahoma City No. 50. • During its first year as a permanent major league city, Oklahoma City was ranked No. 79 in the Sporting News list of 400 best sports cities. • CNN listed Oklahoma City as one of it “30 Best Cities to Find a Job.” • CompetitiveAlternatives.com ranked Oklahoma City as 5th in Lowest Business Costs in U.S. • Oklahoma City was ranked by Forbes Magazine as 7th Cleanest City in America. • Bizjournals.com ranked Oklahoma City as the Most Affordable Housing Market. • Oklahoma City placed 19th on Forbes list of Best City for Jobs.
Dave Markle, Land Specialist CB Richard Ellis | Oklahoma 1401 S. Boulder Ave., Suite 100 Tulsa, OK 74119 T. 918.665.3830 F. 918.663.6402 [email protected]
8
NED
W KO
BAN
Indian Ridge A PARTIALLY COMPLETED GOLF COURSE COMMUNITY WITH EXCESS LAND 30 Minutes from Downtown Oklahoma City Blanchard, Oklahoma
www.cbre.com/indianridge
Property Overview
LAND DESCRIPTION Indian Ridge contains a total land area of 1,762 acres, which is located along the north side of U.S. Highway 62, 2.5 miles west of the CBD of Blanchard, Oklahoma. The property is within the corporate boundaries of the City of Blanchard and is located in Grady County. Phase One of Indian Ridge is 883 acres, which is comprised of 198 partially completed residential lots and a partially completed golf course. Estimated cost to complete the development lots and the golf course is $2,800,000.
Property highlights Visitors have described Indian Ridge as a special piece of land. “The rolling hills with the views, trees, grasslands, ponds, winding roads, and Walnut Creek provides a lot of character.and makes this a trophy property.” • 1.25 miles of frontage on Highway 62 • 30 minute drive from Downtown Oklahoma City • An abundance of wildlife including Whitetail Deer, Wild Turkey, Quail, Coyotes, and water fowl.
IMPROVEMENTS DESCRIPTION • 10,688 SF wood frame maintenance building is located in the northwest corner of Phase 1. • A 1,200 SF wood frame storage building with wood siding and gable roof is located adjacent northeast of the maintenance building. • There is a double-wide modular home that was utilized as the information/sales office for the Indian Ridge MPC that can be used as a house for guests or caretaker. • A pump station building is located near the irrigation storage lake. • Paved roads on the southern half of the property • Concrete pathways • Stone masonry guard shack and entry feature • 12” city waterline • Irrigation lines • A concrete slab and vertical steel supports are in place for a clubhouse building.
Dave Markle, Land Specialist CB Richard Ellis | Oklahoma 1401 S. Boulder Ave., Suite 100 Tulsa, OK 74119 T. 918.665.3830 F. 918.663.6402 [email protected]
MODULAR HOME
MAINTENANCE FACILITY
2
AERIAL PHOTO
Indian Ridge | Blanchard, Oklahoma
3
Original Development Concept
Dave Markle, Land Specialist CB Richard Ellis | Oklahoma 1401 S. Boulder Ave., Suite 100 Tulsa, OK 74119 T. 918.665.3830 F. 918.663.6402 [email protected]
4
REDEVELOPMENT OPPORTUNITIES
POTENTIAL REDEVELOPMENT OPPORTUNITIES • • • • • • • •
Private Estate Corporate Retreat Equestrian Community/Ranchettes Hunting and Recreational Preserve Destination Community Investment Cattle Ranch Horse Farm
Indian Ridge | Blanchard, Oklahoma
5
Location and Access
LOCATION & ACCESS Indian Ridge is located on the North side of Highway 62, 2.5 miles west of the CBD of Blanchard, in Grady County, Oklahoma. Blanchard lies in the west sections of McClain County and the east sections of Grady County. McClain County is located in the central portion of the State of Oklahoma. It is approximately 24 miles southwest of Oklahoma City, 117 miles southwest of Tulsa, and 170 miles north of Dallas, Texas. Access is provided by US Highways 62, 77, and 177 and State Highways 9, 24, 39, 59, 59B, 74, 76, and 102. Interstate 35 also bisects the county from the north to south through the center of the county and provides excellent access to Oklahoma City and other areas throughout the state of Oklahoma.
Dave Markle, Land Specialist CB Richard Ellis | Oklahoma 1401 S. Boulder Ave., Suite 100 Tulsa, OK 74119 T. 918.665.3830 F. 918.663.6402 [email protected]
6
Investment Highlights
OFFERING • Priced at $3,800,000 which is below the 2009 appraisal of the land, without improvements. • Seller financing available with strong credit and equity.
SUMMARY Potential for substantial tax savings together with an excellent redevelopment opportunities make Indian Ridge an extraordinarily strong investment for buy and hold.
TAX DEFERRAL STRATEGY All or parts of Indian Ridge can be placed into one of several types of conservation easements which feature the following: • Owners could still retain perpetual rights to the land for hunting, fishing, equestrian trails and other uses which are not inconsistent with conservation purposes. • The IRS will allow owners charitable deductions for the appraised value of the land donated which can be carried forward over five years. • The recipient of the conservation easement could be federal or state agencies or other non-profit organizations. The land could be divided into multiple easements among a number of recipients at different times in the future.
Indian Ridge | Blanchard, Oklahoma
7
Area Highlights
AREA HIGHLIGHTS • Oklahoma City’s unemployment rate for May 2009 is 5.8% versus 9.4% nationwide. • Bizjournals.com ranked Oklahoma City 4th in a review of the least stressful cities in America. • Oklahoma City was ranked by Forbes Magazine as America’s Most Recession-Proof City due to falling unemployment, a strong housing market in the country, and strong growth in agriculture, energy, and manufacturing. • Oklahoma City placed 4th on the Forbes.com list for Best Cities for Commuters. • The “Today Show” ranked Oklahoma City No. 28 of the 100 Best Places to Raise a family. • When judging which cities among the country’s 200 largest are the most successful in creating and keeping jobs, the Milken Institute ranked Oklahoma City No. 50. • During its first year as a permanent major league city, Oklahoma City was ranked No. 79 in the Sporting News list of 400 best sports cities. • CNN listed Oklahoma City as one of it “30 Best Cities to Find a Job.” • CompetitiveAlternatives.com ranked Oklahoma City as 5th in Lowest Business Costs in U.S. • Oklahoma City was ranked by Forbes Magazine as 7th Cleanest City in America. • Bizjournals.com ranked Oklahoma City as the Most Affordable Housing Market. • Oklahoma City placed 19th on Forbes list of Best City for Jobs.
Dave Markle, Land Specialist CB Richard Ellis | Oklahoma 1401 S. Boulder Ave., Suite 100 Tulsa, OK 74119 T. 918.665.3830 F. 918.663.6402 [email protected]
8
