4.7. SR 12-19-2016 - Laserfiche WebLink

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Sales Comparison Approach —continued Conclusion: Comparables used are rated to be the most indicative of data analyzed and bracket the subject regarding overall appeal. Other sales reviewed were older, more distant, and/or needed more adjustment. The comparables utilized in this analysis each have several characteristics in common with the subject. While none are totally identical to the subject, each represents a viable alternative to a prospective buyer of the subject property and, after adjustment, can be utilized as an indicator of market value for the subject property. Variance in sale price is common in the current market. Data Summary Minimum Maximum Average Median Before Adjustment 1.15 3.56 2.22 2.35 After Adjustment 1.03 2.99 2.23 2.35 The adjusted figures are similar to the unadjusted figures. All comparables given about equal weight, as together, they bracket the subject characteristics. Useable Site Area: The subject's irregular shape and somewhat limited development potential due to location of easement and low areas is off-set by the site's above average visibility/exposure, but no frontage. Therefore, a rate near the mid-range is concluded for the subject, say $2.25 per SF. Non-Useable Site Area: Value attributable to non-useable site area typically ranges from 5% to 15% of useable site area value, depending on overall amenity. Based on concept drawings for the site, it appears the low areas have the potential to be filled in and developed. However, a significant portion of the non-useable area is ROW. As such, a rate at the lower end of the range is considered appropriate. Therefore, a rate of approximately 5% will be applied ($2.25 per SF x 15% _ $0.11 per SF). Useable Site Area 32,670 SF x $2.25 per SF = 73,508 Non-Useable Site Area 70,567 SF x $0.11 per SF = 7,7623 Total (rnd)81,000 FINAL VALUE OPINION BY SALES COMPARISON APPROACH 81,000 46 Nagell Appraisal&Consulting 1 952-544-8966 1 www.callnagell.com