FOR SALE: $3,950,000 BEACHFRONT RESTAURANT BUILDING

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1 FOR SALE: $3,950,000 BEACHFRONT RESTAURANT BUILDING 1775 BEACH BLVD. BILOXI, MS Sherry L. Owen, ABR, CRS, GRI, SFR Broker/Owner Owen & Co., LLC Real Estate Cell:

2 Prepared by Sherry Owen, Owen & Co. LLC [O] Licensed to practice Real Estate in Mississippi BEACHFRONT RESTAURANT BUILDING 1775 BEACH BLVD, Biloxi, MS Listing ID: Status: Active Property Type: Retail-Commercial For Sale Retail-Commercial Type: Restaurant Size: 4,128 SF Sale Price: $3,950,000 Unit Price: $ PSF Sale Terms: Cash to Seller Overview/Comments This property is among the very few businesses directly on the 1.5miles of White Sand Beach in Biloxi. It is currently occupied by a popular local restaurant/bar. This location is situated within a group of popular and well visited restaurants and entertainment that promote tourism along the beachfront. Heated and Cooled Space AND Open Covered Deck Space in the 4,128 s.f. of restaurant space, with an seating capacity of 123 on the first floor and 54 on the second floor (approx. 177 people). There are 87 marked parking spaces including 4 handicap spaces. The Parking Lot is 32,714 s.f., there are also 1,362 s.f. of concrete sidewalks. The building has woodframe construction, yet has received FORTIFIED COMMERCIAL handling, and has a piling driven foundation. More Information Online QR Code Scan this image with your mobile device: General Information Taxing Authority: Tax ID/APN: Retail-Commercial Type: Zoning: HARRISON COUNTY 1210J Restaurant WF & SB Property Use Type: Building/Unit Size (RSF): Land Area: Sale Terms: Investment 4,128 SF 2.50 Acres Cash to Seller Area & Location Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Casino, Other Feet of Frontage: 194 Traffic/Vehicle Count: 34,000 Highway Access: HIGHWAY 90 GOING WEST TO INTERSTATE 110 NORTH TO INTERSTATE 10. HIGHWAY 90 GOING EAST TO HIGHWAY 605 NORTH TO INTERSTATE 10. Airports: GULFPORT INTERNATIONAL AIRPORT Site Description: LEVEL Property Located Between Located on the South side of Highway 90 between Veterans Ave. and Rodenberg Ave. Close proximity to Casinos, Keesler Air Force Base and Interstate 110. Area Description This property is beachfront, located among a group of restaurants, several hotels, within walking distance of one of the many casinos in the area. High traffic tourist destination. Building Related Total Number of Buildings: 1 Number of Stories: 2 Property Condition: Excellent Year Built: 2015 Construction/Siding: Wood Frame Total Parking Spaces: 87 Parking Type: Surface Passenger Elevators: 0 Freight Elevators: 0 Sprinklers: Wet Heat Type: Electricity Heat Source: Central Air Conditioning: Engineered System Page 1

3 Prepared by Sherry Owen, Owen & Co. LLC [O] Licensed to practice Real Estate in Mississippi Parking Description There are 87 marked parking spaces including 4 handicap spaces. The Parking Lot is 32,714 s.f., there are also 1,362 s.f. of concrete sidewalks. Land Related Zoning Description: WF & SB, see attached description Lot Frontage: 194 Lot Depth: 580 Location Address: 1775 BEACH BLVD, Biloxi, MS County: Harrison MSA: Gulfport-Biloxi-Pascagoula Water Service: Sewer Type: Municipal Municipal Property Images beachbum2 beachbum1 Pelican Wharf Cajun Grill Exterior 2 Page 2

4 Prepared by Sherry Owen, Owen & Co. LLC [O] Licensed to practice Real Estate in Mississippi Pelican Wharf Cajun Grill Exterior 3 Pelican Wharf Interior 1 Pelican Wharf Cajun Grill Exterior 4 Pelican Wharf Interior 2 IMG_ _ Pelican Wharf Interior 3 IMG_ _ _HDR Page 3

5 Prepared by Sherry Owen, Owen & Co. LLC [O] Licensed to practice Real Estate in Mississippi Street Aerial both Parcels Google Street Aerial Property Contacts Sherry Owen Owen & Co. LLC [O] Page 4 Copyright Mississippi Commercial Association of REALTORS. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Mississippi Commercial Association of REALTORS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.

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7 Neighborhood Description The subject property is located along the north side of U. S. Highway 90 just east of its intersection with Veterans Avenue, along the Gulf of Mexico (Mississippi Sound). Treasure Bay Casino Resort is located about one mile west of the property, while Beau Rivage and several other casino resorts are located to the east. U. S. Highway 90 - known as Beach Boulevard in this vicinity - is a primary east-west highway through the Mississippi Gulf Coast region and runs directly along the beachfront through most of Harrison County. This highway in Harrison County was completely reconstructed by MDOT in ; the twolane service road that runs past the subject property is one of several that were added or revamped in this reconstruction. Veterans Avenue connects U. S. Highway 90 with Pass Road, another major east/west corridor through both Biloxi and Gulfport. Veterans Avenue is to be expanded to a four-lane street in the near future - similar to Caillavet Street in the downtown area - and additional right-of-way has already been acquired for this purpose by the City of Biloxi. The subject property is within a group of restaurants along the beachfront that has become known as "restaurant row". Other than one of several Waffle House restaurants that reopened along the beachfront shortly after Hurricane Katrina, Shaggy's Harbor Bar and Grill was the first restaurant to locate in this part of the beachfront, having opened in Two additions to the Shaggy's restaurant facility have been added more recently. Others that have been constructed since Shaggy's are The Reef Restaurant, the Blue Crabhouse Restaurant (now closed but due to reopen soon as the Baja Beach), and the Blind Tiger that is now under construction (i.e., the subject property). In front of the Big Play Family Fun Center (see below), an old commercial building at the comer of Beach Boulevard and Veterans Avenue was expanded and renovated into a restaurant building in 2011; the current occupant is Slap Ya Momma's Barbecue. A building that was added later in the interior of the property is now occupied by the Souper Deli. Near the Beau Rivage, a landmark fine-dining restaurant called Mary Mahoney's reopened shortly after the storm; another Waffle House restaurant and a Shell gasoline station/convenience store are located nearby. Additionally, Hooters Restaurant has relocated and reopened a short distance to the west, while Snapper's Seafood has opened along Beach Boulevard at Rodenberg Avenue. In about 2009, Big Play Family Fun Center opened a miniature golf and arcade venue along Veterans Boulevard just north of Beach Boulevard; other attractions inelude bumper cars, bumper boats, water slides, shp-and-slide, and a go-kart track. Souvenir City has reopened to the west of the subject property, while Sharkheads has constructed a two-story, 26,000-square-foot retail building south of U. S. Highway 90 near Rodenberg Avenue. Several beachfront hotels have reopened in the past several years, including many in the immediate vicinity of the subject property. These include the Super 8 Hotel, Edgewater Inn, Bayfront Inn, Sand Dollar Motel, Motel 6, Econo Lodge, Ramada Limited, Flamingo Beach Inn, Star Inn, Rodenberg Express Inn (formerly Howard Johnson Express Inn), Holiday Inn Hotel, Jubilee Inn, and Hampton Inn. The former Holiday Inn Express property near the Mississippi Gulf Coast Coliseum and Convention Center, where a major

8 expansion of the Convention Center has been completed, is now a Quality Inn. The newest beachfront hotel in the area is the historic White House Hotel; after a renovation that began in the early 2000' s stalled, an investment group purchased the property and completed the restoration of the facility. The White House Hotel opened in July 2014 as a 76-room boutique hotel that includes a restaurant and areas for weddings. Also, the South Beach Hotel was built as a high-rise condominium property in and opened in early October 201O; it is located along the south side of U. S. Highway 90 between Veterans Avenue and Rodenberg Avenue. The facility has 94 guest rooms and suites, a cafe, an infinity edge swimming pool, and meeting space accommodating up to 50 attendees. The Sheraton Four Points Hotel is located just northwest of the Beau Rivage along the I-110 overpass; it was originally built as a high-rise hotel in the 1960's, though it was used for many years as an apartment building until Following an extensive renovation, the Sheraton opened in early July 2010 as a 195- room property, with a restaurant, lounge, swimming pool, and 1,000 square feet of meeting space. Our understanding is that the owners recently submitted plans to the City to convert this hotel to a Doubletree. Finally, an active local hotel developer is proposing the construction of a six-story Hyatt Place Hotel that would contain 114 rooms; the location is adjacent to the Hampton Inn on the beachfront in Biloxi. The City of Biloxi is continuing to seek a convention hotel with a national flag and approximately 330 guestrooms that would be constructed adjacent to the Mississippi Gulf Coast Coliseum and Convention Center. One of two Surf Style retail stores along the beachfront has reopened to the west of the subject property; the other has relocated to a rebuilt drugstore building in Gulfport at Courthouse Road. Cajun RV Park and Southern Comfort RV Park are also located in the immediate area. Summarizing, the subject property is located along a major beachfront highway in southern Biloxi that has become the most heavily developed section of U. S. Highway 90, with several casino resorts, restaurants, high-rise condominium towers, hotels, restaurants, and other development.

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14 B e a c h B l v d Z o n i n g M a p DISCLAIMER: Any user of this map product accepts its faults and assumes all responsibility for the use thereof, and further agrees to hold The City Biloxi harmless from and against any damage, loss or liability arising from any use of the map product. Users are cautioned to consider carefully the provisional nature of the maps and data before using it for decisions that concern personal or public safety or the conduct of business that involves monetary or operational consequences. Conclusions drawn from, or actions undertaken, on the basis of such maps and data, are the sole responsibility of the user. 1 inch = 173 feet February 18, Feet

15 Biloxi, MS Land Development Ordinance Page 1 of 3 (H) - WF: Waterfront District The Waterfront (WF) District is established and intended to accommodate principally working waterfront development providing access to or support of Biloxi's traditional commercial seafood and recreational fishing/water sports industries including uses associated with the launching, berthing, hauling, fueling, storage, repair, or construction of boats, and the unloading, processing, icing, or shipping of seafood. the WF District is also intended to accommodate uses and visitor amenities that support or complement the city's seafood and recreational fishing/water sports industries (e.g., seafood markets and restaurants, aquariums, museums, shops, and entertainment uses). Hotel, gaming, and residential uses also may be appropriate in WF Districts to the extent they complement and are compatible with working waterfront development. WF Zoning is appropriate along those portions of East Biloxi's waterfront where seafood and recreational fishing/water sports uses exist or are planned. district standards encourage views of the water and pedestrian accessibility to the waterfront, among district uses, and to the downtown and other nearby centers of activity. they also call for compliance with the city's Flood Damage Prevention Ordinance. TABLE (H): WF DISTRICT BASIC INTENSITY AND 1 DIMENSIONAL STANDARDS sf = square feet ft = feet n/a = not applicable Dwelling units per acre, max. 30 Floor area ratio (FAR), max Lot width, min. (ft) 100 Lot depth, min. (ft) 100 Impervious surface area, max. (% of lot area) 80 Height, max. (ft) 175 Front setback, min. (ft) Corner side setback, min. (ft) Side setback, min. (ft) 5 4,5 Rear setback, min. (ft) 10 5 NOTES: 1. Townhouse lots require a min. area of 1,800 sf ft for townhouse lots ft for accessory buildings. 4. For townhouses, applicable only to outer side of end unit ft for accessory structures.; Fig (H)(1): WF Example Lot Pattern Fig (H)(2): WF Example Building Form Fig (H)(3): WF Example Building Form Figure (H)(4): WF Example Lot Configuration

16 Biloxi, MS Land Development Ordinance Page 2 of 3 (I) - SB: Sand Beach District The Sand Beach (SB) District is established and intended to achieve the purposes served by the manmade sand beach and seawall constructed and maintained by federal, state, and local authorities along the Mississippi sound shoreline i.e., to protect and conserve the coastline, facilitate the management of windblown sand erosion, provide improved public access to the shoreline and beach for recreational use, provide beach amenities that create and contribute to public enjoyment of recreational opportunities offered by the sand beach, and respect and complement the land uses adjacent to the sand beach. To foster these purposes, the SB District is largely limited to open space uses, but also accommodates improvements that such uses, including pedestrian and bicycle paths and amenities, bus transit stops, parking facilities, public restrooms, comfort stations, picnic shelters, open space and recreational facilities, trash receptacles, plantings, fencing, stormwater facilities, lighting, and related signage. appropriate uses in the SB District also include beaching vending uses, art shows, festivals, and other temporary special events. Structures are generally limited to portable structures or small permanent structures and should be storm resilient in design and placement. TABLE (I): SB DISTRICT BASIC INTENSITY AND DIMENSIONAL STANDARDS sf = square feet ft = feet n/a = not applicable Dwelling units per acre, max. Floor area ratio (FAR), max. Lot width, min. (ft) Lot depth, min. (ft) Impervious surface area, max. (% of lot area) n/a n/a n/a n/a n/a Height, max. (ft) 16 Front setback, min. (ft) n/a Corner side setback, min. (ft) Side setback, min. (ft) Rear setback, min. (ft) n/a n/a n/a Fig (I)(1): SB Example Development Fig (I)(2): SB Example Development Figure (I)(3): SB Example Development Configuration

17 Biloxi, MS Land Development Ordinance Page 3 of 3

18 B e a c h B l v d F l o o d a n d E l e v a t i o n s M a p DISCLAIMER: Any user of this map product accepts its faults and assumes all responsibility for the use thereof, and further agrees to hold The City Biloxi harmless from and against any damage, loss or liability arising from any use of the map product. Users are cautioned to consider carefully the provisional nature of the maps and data before using it for decisions that concern personal or public safety or the conduct of business that involves monetary or operational consequences. Conclusions drawn from, or actions undertaken, on the basis of such maps and data, are the sole responsibility of the user. 1 inch = 173 feet February 18, Feet