OVERVIEW NORTH PARCEL ACRES: 46 WATERFRONT: 1,227 Front Feet PRICE: $350,000 PER ACRE: $7574 PER FRONT FT. $285 SOUTH PARCEL ACRES: 22 WATERFRONT: 1,381 Front Feet PRICE: $295,000 PER ACRE: $13,170 PER FRONT FT. $214 LOT 1 ACRES: 3.32 WATERFRONT: 420 Front Feet PRICE: $75,000 PER ACRE: $22,590 PER FRONT FT. $178 Richard R. Randolph, iv
PICTURES ENTRANCE NORTH PARCEL SOUTH PARCEL MIDWAY Richard R. Randolph, iv
PICTURES NORTH PARCEL LOOKING SOUTH NEIGHBORS SOUTH PARCEL WATER VIEW LOOKING SOUTH DOWN BANKHEAD LAKE Richard R. Randolph, iv
THE VIEW AT BANKHEAD LAKE AREA MAP SMITH LAKE I-22 OPENS 2007 BANKHEAD LAKE LAKE TUSCALOOSA If you are interested in hearing more about this property, please contact Next Steps Richard Randolph: Birmingham, AL 35253 email:
OVERVIEW N. PARCEL S. PARCEL LOT 1 APPROXIMATE PARCEL DIVISIONS DESCRIPTION: These parcels on Bankhead Lake are a division of a tract of roughly 70 acres of land with 3000 feet of waterfront on Bankhead Lake, 38 miles from Birmingham, AL and 12 miles off of the nearest exit on the new I-22. We are selling the property with a 16 private road that may be turned into a public right-of-way with some widening. Also included is a decent entrance and cleared waterfront acreage. Right now the property is simply a 70 acre parcel on a county road with utilities no subdivision whatsoever has taken place. It can remain as an undivided parcel if the buyer elects to purchase as a whole. However, due to the topography, the Northern parcel will be required to allow a 50 easement road through the North property for access to the South parcel. ABOUT US The owner is MindCoin,LLC and it s sole member is Richard Randolph. He is a land developer and is focused on Lewis Smith Lake, the lake above Bankhead Lake in the Black Warrior River chain. His current developments, in association with Shannon-Waltchack Investment Real Estate, include Hidden Falls, a 90 lot waterfront development (see www.hiddenfallssmithlake.com) and the coming Smith Lake developments: Four Waters Point, Bear Branch, Headwaters on Rock Creek and Rockhouse. These are in addition to other projects under contract on Lay Lake and a 600 acre project on Lake Gunterville. Given the time and expense involved in all these developments, Mr. Randolph has elected to wholesale these Bankhead Lake parcels in order to free up resources to devote to other projects. Richard R. Randolph, iv
ABOUT Demographics: Bankhead Lake is the closest large body of water to Birmingham. Lakefront Property: Property has a spectacular view across the river and up Lost Creek where there are four $500k+ houses visible. Deeded Land: Most land on Bankhead Lake is owned by US Steel and is leased out. Deeded land is rare and desirable on this lake. Mineral rights have been separated from the property many years ago, as was a great deal of Walker and Jefferson Counties. New I-22: New interstate leg is due to open in 2007. We are 12 miles from I- 22 exit. County Rd: We have well over 2000 of Walker County maintained road frontage, along with a 3 waterline maintained by Parrish water authority. Restrictive Covenants: Our land is covered by Covenants that protect property values. Topography: The topo give great views from roughly 14 total homesites. Most lots will sloped enough to warrant steps to the water, but there are no bluffs. (see topo) Tenn-Tom Waterway: Bankhead Lake is part of this huge navigable waterway system. The first lock and dam is 10 miles south by water. Water level does not fluctuate. Recreation: There are several huge wildlife management areas (WMA) close to the property offering 30,000+ acres of hunting and recreation.. Water Quality: Our water comes directly out to Smith Lake, arguably one of the cleanest in the south. The only industry is Gorgas Steam plant, whose emissions into the water is mainly warm water. The stacks have just been updated with $250 million dollar scrubbers. You will see the plant in the distance as you drive in to the property. Appraisal: The 70 Acre unimproved land was appraised by a commercial appraiser for $495,000 in early 2006. Since then we have performed all the due diligence, have installed an entrance, a quality private road and cleared the waterfront acreage. Comps: A few comps from the appraisal.. $22,727 per Acre for 11 Acres with less than 1,000 ft. of waterfront. This property is 1.7 miles south of our property on Bankhead Lake. Address: 162 Naval Reserve Rd. Adger, AL Parcel Tax ID Jefferson, Co. 18-25-0-000-021.000 $15,306 per Acres for 29 Acres with approx. 1,000 ft. of waterfront on main body. This property is 2 miles south of our property on Bankhead Lake. Address: 285 Warrior River Highland, Adger, AL Parcel Tax ID Jefferson, Co. 18-35-0-000-032.000 The View at Bankhead Lake is on the Tenn-Tom waterway. system with thousands of miles of navigable waterway. US Steel (USX) owns a great deal of property on Bankhead Lake, so most lake residences are on leased land thus making this property is an extremely RARE find. This is one of the largest undeveloped tract not owned by USX, that is both on the Lake and in Walker County SWIRE Richard R. Randolph, iv Lakefront investment Program
MORE INFO Challenges Navigation: Bankhead Lake is locally referred to as the Warrior River. This is a misnomer, as all large lakes in Alabama are dammed up rivers, as is Bankhead Lake. The only difference is that Bankhead Lake is navigable on the Tenn--Tom Waterway. The water level does not fluctuate, nor is there any noticeable flow in the river. The open water is a wide view, at least 3000 wide outside the property. Bankhead Lake has Birmingham Port on the Mulberry Fork Branch and is the port for steel and other industry transport. However, we are on the Black Warrior Branch, and are unaffected by Birmingham Port. Route through Hwy. 269: The current route from Birmingham to Bankhead Lake is off I-59. through the urban blight of Ensley, past Birmingham port and past Flat Top strip mine an awful looking drive. This will all change when I-22 opens up in 2007 and the 12 miles to the property off I-22 is through a pretty rural scene. (Drive this yourself and see the difference see directions) MARKET Current market trends indicate tremendous growth in the lake vacation home sector, particularly in southern states, through the end of the decade. The typical vacation-home buyer is 55 years old and earned $71,000. In 2003, The median price of a vacation home was $190,000. Within 100 miles of Bankhead Lake, it is projected that the population of people between the ages of 55-64 will increase by 15.2% over the next 5 years. A National Association of Realtors study shows that 13 percent of all homes purchased in 2004 were vacation homes. The national vacation home inventory is estimated to be 6.6 million. The primary market for potential second-home buyers is projected to double from 5.8 million in 2000 to 11.4 million in 2009. Bankhead Lake Facts Bankhead Reservoir contains 9,200 acres and is the second largest lake on the Warrior River. Located approximately 15 miles west of Birmingham, and 30 miles northeast of Tuscaloosa, Bankhead Reservoir flows through Walker, Jefferson and Tuscaloosa Counties. Within 150 miles of Bankhead Lake, there is a population of over 3.1 million people. Development of shoreline property is extensive and includes private residences and commercial marinas. Camping, boating and fishing provide the main recreational opportunities on this reservoir. This Bankhead Lake tract will be less than 12 miles from Interstate 22 (to be completed in 2007) There are several marinas and fish camps on the lake that provide boat docking and storage, fueling facilities, launching ramps, restaurants, groceries, bait, and supplies. There are five public facility use areas and fourteen user fee areas located on Bankhead Reservoir. Nearby, for hunting, is the Mulberry Fork Wildlife Management Area (WMA). This is leased land available for hunting that is managed by the Department of Conservation and Natural Resources. SWIRE Richard R. Randolph, iv Lakefront investment Program
DIRECTIONS Pumpkin Center NOTE: Buy a Warrior River Map or Alabama Gazetter and it will show Bankhead Estates Road. The picture at right came from the Bankhead Lake Map. You are unlikely to find the road on Google Maps or Mapquest. FROM BIRMINGHM VIA HWY. 269 From Birmingham, Go west on I-59 to the Hwy. 269 Exit# 120 in Ensley. Go straight thru the small city of Ensley and it s traffic lights and over the viaduct. Then go approximately. 25 miles. About 5 miles past Birmingport (the port where they load barges) you will come to Pumpkin Center on Hwy. 269. There is a little convenience store with a red awning around the station and over the gas pumps. This is Pumpkin Center. Across from the station is Pumpkin Center Cut-off Rd. this road takes you to I-22. (see the directions to the left) See the Directions below to get to the property from the Pumpkin Center. FROM BIRMINGHM VIA I-22 NOTE: Not open til Summer of 2007. From Downtown Birmingham, go I-59 West 2 miles to the Hwy.78/Jasper exit. Go north 5 miles to Adamsville and go west on the new I-22 interstate 20 miles. Exit Hwy 81/Dora-Flat Creek Rd. Go 1.7 miles to dead end into Flat Top Rd. take a right on Flat Top Rd. and go 0.2 mile (2 blocks) and take Right onto Flat Creek Road. Go approximately 1 miles and the road will make a 90 degree turn to the right (with an old/ closed paved road straight ahead). At that right turn, the road will turn into "Pumpkin Center Cut-off Rd." Go 3 miles to intersection of Hwy. 269. The convenience store across from you is Pumpkin Center. See below TO PROPERTY ONCE YOU ARE AT PUMPKIN CENTER From the convenience store, go north on Hwy. 269 approx. 300 yards to the "Pumpkin Center Church" there on Hwy. 269. Turn left at the Church where you will see a faded "Bankhead Estates" sign. Then bear right on Bankhead Rd. Follow Bankhead Road out approximately 6 miles. You will pass a few roads to the right and left, but stay on the main road and you will go way out in the woods and will not be passing any residences- at some point you will see an old country cemetery as a landmark. As you descend a steep hill, you will see a paved road called Eagle Port Rd. to the left. Turn left, and you will see a stake about 300' up on the right. The property begins there and goes another 2000' ft. or so on the paved Rd. The best place to enter is at the chain link fence gate and follow that road on out to the water, and then walk another 2000' southward parallel to the water till the tip of the peninsula. SWIRE Richard R. Randolph, iv Lakefront investment Program