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9563 <br />MA KET BENEFIT A,~y Y I <br />10 <br />Industrial .Lands <br />The sales all occurred during a six month time frame. Thus, no time adjustment has .been <br />made. A size adjustment has been made using a 90% learning curve. The comparables <br />have all been adjusted to a hypothetical 2.0 acre site. <br />Sale #1 has close proximity to area trunks, but was not actually served at the time of sale. <br />The adjusted sales price of this comparable is $0.43 per SF. <br />Saes #2 and #3 are located in the study area and have adjusted prices of $0.30 to $0.32 <br />per SF, with an average of $0.31 per SF. <br />The per acre benefit indicated by these sales is calculated as follows: <br />Sale #) <br />• <br />Average of Sales #2 & #3 <br />Indicated Benefit Per SF <br />$0.43/SF <br />~0.31fSF <br />$0.12 <br />So, <br />43,560 SF x $0.1.2 Per SF <br />• <br />$5,277 Per Acre <br />Our benefit analysis for industrial lands was based upon three sales comparables only. <br />We have searched our files. for any other case studies which may be useful to our <br />analysis. We have been unable to find any other data which can be used to isolate the <br />benefit of water and sewer trunks only. <br />The above indicates a per acre benefit which is very similar to the benefit concluded to <br />for residential (ands. <br />The analysis for residential lands benefited from several useful sales, providing a strong <br />indication of value. Our industrial analysis correlates well with the residential analysis. <br />We conclude that the market benefit for the industrial land is about $5,300 per acre. <br />Peter J. Patchin & Associates, Inc. <br />