PROPERTY SUMMARY – SUBMERGED LAND Property Type: Submerged Land Zoning: 9500 – Rivers/Lakes Submerged Lands Location: Adjacent to Fairwinds Cove, Jensen Beach, FL What Is Being Offered? The property consists of submerged land legally zoned for uses such as docks, piers, lifts, and other water-dependent improvements. The most economically advantageous use is the development of a community dock serving Fairwinds Cove, a 160-unit waterfront condominium community that has access and right-of-way to this parcel. Previous Dock on Site: Yes. A dock previously existed at this location. Why the Dock Is No Longer Present: The prior dock was destroyed during a storm. Negotiations between Fairwinds Cove and the former dock owner regarding reconstruction did not result in an agreement, so the dock was not rebuilt. About Fairwinds Cove: Total Units: 160 Closed Sales (approx. last 2.7 years): 22 Average Sale Price: $361,600 Median Sale Price: $371,000 Occupancy Mix: Approximately 60% seasonal residents (“snowbirds”) and 40% year-round residents Contact information for owners, board members, and the property management company is available to support buyer due diligence. Why the Seller Is Not Developing the Dock: The owner is currently committed to other higher-priority projects and is offering this as an investment opportunity. Pricing Rationale: Historical layouts and engineering concepts indicate the potential to construct a new dock with approximately 38–40 slips (or more, depending on design and permitting). Estimated completed dock value: 40 slips × $50,000 = $2,000,000 40 slips × $80,000 = $3,200,000 Reasonable estimated value range: approximately $2,500,000–$2,600,000. The seller’s asking price is approximately 10% of the projected completed dock value, consistent with norms for South Florida developer-level land acquisition. Reference Links: Property Appraiser Data: https://www.pa.martin.fl.us/app/search/view/354 Property Appraiser Map: https://geoweb.martin.fl.us/general/?pcn=14-37-41-000-000-00060-4# Google Maps: https://maps.app.goo.gl/fyUvij2bz1eGTK789