Live On-Site Auction

Auction Date and Time: 10/13/2023 at 5:00 PM EDT

Auction Location: Farm Life Tropical Foliage Of Homestead Inc 

17200 SW 232nd St, Homestead, FL 33031

Open Houses: TBD

Broker Participation: Representing Buyer Broker will be offered a 2% commission for the seller accepted winning bidder.

All attendees for open houses or private showings will need to complete the Level 2 Due Diligence requirements outlined below.

Turn Key profitable nursery business and real estate are offered for sale by Live and Online Auction. Great investment opportunity to expand your nursery or agri-business with upside potential for future urban development.

A unique assemblage of 6 lots for approximately 72 contiguous acres w/a large turnkey profitable nursery business. Large 16,000 square ft Warehouse with office. Approximately 25 acres of shade houses. Great opportunity for nursery specialists to grow their business, with room to expand on over 30+ unused acres. Perfect for home builders to buy for future land development once Urban Boundary Development line gets expanded and continue the self-running nursery that has been generating $800k - $1m/ Year profit while you wait. Multiple uses are possible.

The auction offering will be:

Tract 1: 62.2+/- acres with Nursery Business and assets

Tract 2: 10+/- acres of vacant land

Pre-Auction offers are encouraged if buyers would like to separate the nursery business from the Real Estate. See Terms listed as “Pre-Auction Offers”

Available for review: Surveys, All Financials for 2019,2020,2021, detailed brochure, inventory list, full video. The same ownership group owns the land, the nursery business and the new construction 2020 single family next door sold separately, ideal for owner use.

Property Features:

1 Pole and cable shade house ~ 4.42 acres

Drip fertigation

Overhead cold protection and emergency water sprinkler system (on Diesel pump)

60% shade cloth

Supports plants up to 11.5'

1 Pole and cable shade house ~ 1.8 acres

Overhead irrigation runs on an Electric pump

Mixed sections 60% shade and 47% shade

Shade replaced in 2017

1 Pole and Cable shade house ~ 1.8 acres

Overhead irrigation runs on an Electric pump

Mixed sections 60% shade and 47% shade

Shade replaced in 2017

1 Cravo Equipment Ltd. flat roof shade house ~ 3.74 acres

All metal construction

Drip fertigation

Overhead cold protection and emergency water sprinkler system (on Diesel pump)

Motor controlled roof (2 layers) and long sides

Engineered for 120 mph winds closed

Stronger Hurricane ready when roof and sides are retracted

Supports plants up to 11.5'

1 shade layer cold protection fabric

Fixed short sides have "quick drop" feature for hurricane preparation

1 Cravo Equipment Ltd. flat roof shade house ~ 4.09 acres

All metal construction

Drip fertigation

Overhead cold protection and emergency water sprinkler system (on Diesel pump)

Motor controlled roof (2 layers) and long sides.

Engineered for 120 mph winds closed

Stronger Hurricane ready when roof and sides are retracted.

Supports plants up to 11.5'

Half of the growing area has 8 propane heaters for cold protection

1 shade layer cold protection fabric

Fixed short sides have "quick drop" feature for hurricane preparation

1 Cravo Equipment Ltd. Flat roof shade house ~ 2.13 acres

All metal construction

Drip fertigation

10 Propane heaters for cold protection

Motor controlled roof (1 layer)

1 roof layer fixed (60% shade)

All fixed sides have "Quick Drop" feature for hurricane preparation

Engineered for 120 mph winds closed

Stronger Hurricane ready when roof and sides are retracted.

Supports Plants up to 14' tall

1 motor controlled shade/ cold protection fabric

Irrigation control House ~ 1500 ft sq

Metal roof and concrete block construction

Fertigation control equipment

Electric pumps

Fertilizer mix tanks

Control computers

Houses the nursery Hoses bib water supply also

Metal Packing house ~ 16,669 ft sq

4 Bay loading dock

Single Bathroom

Potable water system

Office Space ~ 2000 ft sq

A/C

Single Bathroom

Kitchen

Conference Room

2 Separated Offices

Metal Production Facility/Storage House ~5000 sq ft

Open work area

Closed storage space with man door and garage door.

Business Assets Conveying/Equipment included in the sale:

1. Ford 7610 tractor - 97 hp, PTO 86 hp

2. Ford 3930 tractor - PTO 45 hp

3. Massey Ferguson 231 tractor

4. 500 Gallon, 2 spray guns, PTO driven, Spray Rig

5. New Holland 1725 tractor

6. New Holland TC18 tractor

7. Izuzu NPR Box Truck

8. Cat 50 Forklift

9. Cat GP25N Forklift

10. Hardi Boom Sprayer, PTO driven

11. 200 Gallon gas powered sprayer rig with 1 spray gun on a trailer

12. Kubota ZD1011 54" Zero Turn Mower

13. Yamaha 750 Viking UTV

14. ClubCar gas Golf Cart

15. Triton 29 KW Generator on Trailer

16. Kubota L3830 Tractor with Bucket Attachment

17. Martignani PTO Air Blast Sprayer for Field Spraying

18. F250 pickup truck

19. Cat 252 Skid steer

Auger attachment with 12" and 24" augers, 6-way dozer blade, Bucket, Pallet forks & Tree boom

20. Gator 4x2 vehicles x 2

21. Disc

22. Blowers, pole saw, generator

23. Trailers

Neighborhood Data:

The subject property is located in the Redland area of an unincorporated area of Miami-Dade County, approximately 22 miles southwest of the Central Business District of Miami.

The subject property may be further identified as being located at the southwest corner of S. W. 232nd Street at S. W. 172nd Avenue, approximately 3½ miles west of U. S. Highway 1 and ½ of a mile east of Krome Avenue.

Krome Avenue (S. W. 177th Avenue) is a major north/south traffic artery in the western area of Miami-Dade County. Krome Avenue extends northerly from U.S. Highway 1 in Florida City to U.S. Highway 27 in Northern Miami-Dade County. There are a large number of plant nurseries located along Krome Avenue from S. W. 136th Street to S. W. 280th Street along Krome Avenue. There are some commercial properties, such as service stations, convenience stores, and small shopping centers, located on Krome Avenue at primary east/west traffic arteries.

U.S. Highway 1 is a major north/south artery in Miami-Dade County. U.S. Highway 1 extends northerly from the Monroe County line through Miami-Dade County and on into Broward County. U.S. Highway 1 is a primary north/south commuting artery to the Central

Business District of Miami. The majority of commercial development in South Miami-Dade County is located along U.S. Highway 1.

The plant nursery industry in Miami-Dade County has grown significantly over the past 20 years. There are currently more than 950 nurseries certified by the Florida Department of Agriculture. These nurseries vary in size from one to two-acre operations to very large businesses on 100 to 300-acre sites. There are basically three types of nursery operations in the County: those which produce their crops in the ground (field nurseries), those which produce their crops in containers in the open (container nurseries), and those which produce their crops within structures, such as shade houses or greenhouses.

The trend in the neighborhood today is toward the subdivision of large farming tracts into five-acre estates. The use of the land for row crops (tomatoes, corn, pole beans, etc.) and groves (lime, avocado, and mango) have become economically infeasible. There has been a shift from farmland and groves to plant nurseries over the past five to ten years and now there is a further shift to five-acre estates. As residential land becomes more expensive and scarce in the developed areas of Miami-Dade County, the demand for residential land has increased in the subject neighborhood.

The City of Homestead is located approximately seven miles southwest of the subject property. The City of Homestead and adjacent Florida City are the southernmost incorporated municipalities in Miami-Dade County. Homestead is a center for produce processing and shipping.

In summary, the subject property is located in the rural southwest area of South Miami-Dade County in an area known as the Redlands, between Cutler Ridge and the City of Homestead. Properties in the area have been used primarily for agricultural purposes but there is a strong trend toward single-family residential use on five-acre tracts.

Highest and Best Use:

Possible and Permissible Use

The subject site is divided into two sites. The northerly 25.61 acres of the site has 670.74 feet of frontage on S. W. 232nd Street. The southerly 46.29 acres of the site are acre accessed by an access easement over an abutting site. Therefore, the subject property has adequate access and exposure on a paved road.

The sites are irregular in shape but have adequate functional utility. Telephone and electrical services are available along existing street right-of-ways. Water is provided by a pump and well. Sewer is provided by septic tanks. The site is filled to street grade and does not appear to have any drainage or subsoil deficiencies.

The total subject site is 3,145,679.76 square feet in size, which equates to 72.2 acres. The size of the subject site would allow a large-scale use or a subdivision into several sites.

The physical characteristics of the subject site would not restrict any use of the site.

Permissible or legal uses are those uses that are permitted by zoning or deed restrictions. There are presently no known private deed restrictions of record.

The subject site is zoned for agricultural use which permits farming, groves, plant nurseries and single-family residences on five-acre tracts.

The subject site is designated as Agricultural until the year 2030 under the Miami-Dade County Land Use Plan. There were no indications of any zoning changes in the foreseeable future.

Feasible Use/Maximally Productive Use

The physical characteristics and zoning of the subject property permit only a limited range of potential uses. The possible and permissible uses of the subject site include agricultural uses such as crops, groves, and plant nurseries, as well as single-family residences on five-acre tracts.

Surrounding properties are generally improved with avocado and lime groves, plant nurseries, vegetable fields and single-family residences on five-acre lots.

Considering all the factors, the Highest and Best Use of the subject property, as if vacant, is estimated to be for agricultural use.

Site Data: Dimensions and Shape

The northerly 25.61 acres of the site fronts for 670.74 feet on the south right-of-way line of S. W. 232nd Street. The west property line thence extends southerly for 1,345.15 feet. The south property line thence extends easterly for 1,342.44 feet. The east property line thence extends northerly for 1,305.77 feet.

The north property line of the southerly 46.29 acres runs east and west for 1,342.69 feet. The west property line thence extends southerly for 1,010.73 feet. The south property line thence extends easterly for 671.83 feet, thence extends southerly for 335.18 feet, thence extends easterly for 671.86 feet, thence extends southerly for 335.82 feet, and thence extends easterly for 672.13 feet. The east property line thence extends northerly for 672.93 feet, thence extends westerly for 671.59 feet, and thence extends northerly for 1,009.33.

The property has an access easement connecting the sites. A copy of the access easement is contained in the addendum of this report.

Area:

3,131,878 Square Feet

71.90 Acres

Source: Miami-Dade County Property Appraiser’s web page.

Topography and Drainage: The site is level at an elevation equivalent to the abutting streets.

Soil and Subsoil: The immediate area of the subject site appears to have no unusual soil or subsoil conditions. Unusual conditions would be brought out by test borings.

Utilities:

Water: Well and pump

Sewer: Septic tank

Electricity: Florida Power & Light Company

Telephone: A T & T

Street Improvements: S. W. 232nd Street is asphalt paved with a dedicated width of 80 feet. S. W. 232nd Street has one eastbound lane and one westbound lane.

Zoning: Under Ordinance of Miami-Dade County, Florida.

Classification: AU AGRICULTURAL DISTRICT

Permitted uses in the Agricultural District include cattle grazing, farms, groves, greenhouses, packing facilities used for the packing of fruits and vegetables, dude ranches, nurseries, one single family house per five acre site and schools.

The site is located outside of the Urban Development Boundary (UDB) of the county land use plan.

Due Diligence levels of access to information:

https://drive.google.com/file/d/1xXBQcJ9LtJxiU8SNJd0EnhNPMOAzw2lM/view?usp=share_link

Video Link: https://vimeo.com/759748802

Media Kit: http://www.23850sw172ndave.com/tour/www.23850sw172ndave.com/

 

TERMS OF SALE

Miami-Dade County Farm Life Tropical Foliage of Homestead Inc Auction Terms:

There may be multiple owners for this sale and the high bidder agrees to enter into individual purchase agreements with all parties for the Real Estate and the Business.

Pre-Auction Offers: Pre-Auction offers are encouraged and a discount will be given to the Buyer’s Premium for winning bidders making a Pre-Auction offer as outlined below. If a buyer wishes to purchase the Nursery business or the Real Estate without having to purchase both, the only time an offer will be considered for separated business from the real estate will be pre-auction. Once the auction commences on auction day, the Real Estate and Business will be offered as a package unit.

Buyer’s Premium: This sale is subject to a Buyer’s Premium of 6%. This Buyer’s Premium will be added to the high bid price which will be included in the total purchase price.

Buyer’s Premium Discount for Pre-Auction Offers: A winning bidder who makes a Pre-Auction offer will receive a 2% discount on the Buyer’s Premium at closing for the amount of the initial pre-auction offer only. The total Buyer’s Premium charged will be 4% instead of 6% on the amount of the pre-auction offer, and the difference between the initial pre-auction offer and the final winning pre-auction offer shall be charged at 6%.

Due Diligence packages: There are 3 levels of Due Diligence packages outlined below and each has its own set of criteria for receiving that Due Diligence information.

a. Level 1 Due Diligence: Access for all. Includes Offering Memorandum, surveys, title report, lien search and video tour of the property.

b. Level 2 Due Diligence: Requires signed NDA and those bidders can receive.

i. 4 years Profit and Loss Statements

ii. Plant inventory and Revenue Breakdown

iii. Customer Information and Terms

iv. Access to grounds to walk the property at your convenience

c. Level 3 Due Diligence: Requires signed NDA and copy of Driver’s License and proof of funds/letter from financial manager. These bidders shall receive.

i. Accompanied tour of the business

ii. All financial Documents including.

1. Bank Statements

2. Recasted P& L statements for 2018-2022

3. Crop insurance 2023-2024

4. Customer payment terms

5. Employee Data

6. Incomplete current P&L for 2023

7. Major Purchases for 2020-2022

8. Tax Returns for 2018-2021

9. Workmans Comp reports

Down payment amounts: Required Down Payment via Wire Transfer will be as follows:

a. Pre-Auction offers: $50,000 with an offer, remaining balance to 10% of purchase price due within 72 hours of seller acceptance.

b. High bidder at auction: $50,000 with signed Purchase Agreement, remaining balance to 10% of purchase price due within 72 hours of seller acceptance.

OTHER: Seller will close any open or expired permits and cure any liens or violations by Closing in the event that something arises. We have a few surveys from recent, and the rest from 20 years ago. It will cost about $15k to get all new surveys for all the lots. If the buyer wants to get them before closing, then the buyer can do that, and the seller will ensure there are no encroachments.

 

Please visit the auctioneers website for more photos and full Terms and Conditions.