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Highest & Best Use —continued <br /> Financially Feasible Uses: Surrounding uses, market demand and the availability of <br /> financing typically drive financial feasibility. <br /> • Surrounding Uses: The subject is located in a small commercial district that is situated at <br /> the intersection of US Highway 10 and Joplin Street. Surrounding uses include <br /> commercial to the east and west, multi-family residential to the north and county <br /> fairgrounds to the south. The subject is visible from US Highway 10. Given the subject's <br /> surroundings and proximity to US Highway 10, a commercial use would be logical. <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, but rather appears to be a road that was vacated <br /> during a road realignment project. As is, the site's potential is very limited (access <br /> easement, overflow snow storage, 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 north and south would create a more appealing site. <br /> Therefore, the highest and best use as vacant would be to assemble with the adjoining <br /> parcels to the north and south for future commercial development. <br /> Most Likely Buyer: Investor/Developer, Speculation. <br /> Nagell Appraisal&Consulting 1 952-544-8966 1 www.callnagell.com 33 <br />