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Highest & Best Use —continued <br /> • Financing: Subject does not appear to have significant site issues that would restrict typical <br /> financing for well qualified buyers if assembled with adjoining land. As a standalone <br /> parcel, financing options would likely be somewhat limited as the site is not considered <br /> buildable. <br /> • Market Demand: Overall, demand for vacant remnant land is poor as potential buyers are <br /> typically limited to adjoining owners. Depending on the use options and potential for <br /> assemblage, demand can vary. Demand for usable commercial land in the subject market <br /> is rated to be average. <br /> Maximally Productive Use: A typical owner would likely consider the following options: <br /> 1. Continue the Existing ROW Use: The site appears to be right of way. However, the <br /> subject is not being used for road and appears to be excess land that was acquired <br /> during a road realignment project, but was never used for road purposes. As is, the <br /> site's potential is very limited (overflow snow storage, additional road expansion, etc). <br /> 2. Assemble With the Adjoining Properties to the South: The subject is adjacent to <br /> other government owned land that has limited use potential as-is. As such, <br /> assemblage would allow for all the parcels to become one buildable site with <br /> adequate access, size and visibility/exposure for development. All of the sites are <br /> zoned commercial. <br /> Based on the above discussion, Option 2 appears to be the most logical. Assembling the <br /> subject with the properties to the south would create a more appealing site. Therefore, the <br /> highest and best use as vacant would be to assemble with the adjoining parcels to the south <br /> for future commercial development. <br /> Most Likely Buyer: Investor/Developer, Speculation. <br /> Parcel 3A <br /> Legally Permissible Uses: The current C-3, Highway Commercial, zoning allows for a <br /> variety of commercial uses including retail, office, service and restaurants. The land use plan <br /> is similar. Minimum site size is 43,560 SF. <br /> Physically Possible Uses: The physical characteristics of the site are not suitable for <br /> development on a standalone basis. The site is a long, narrow strip of land that appears to <br /> be part of a vacated roadway. The subject has average access and visibility/exposure. <br /> Given the subject characteristics, it would be logical to assemble the site with the adjoining <br /> parcels to the north and south. <br /> 32 Nagell Appraisal&Consulting 1 952-544-8966 1 www.callnagell.com <br />