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<br />Page 2 of 3 Page 2 of 3 <br />Amanda Othoudt <br />December 19, 2017 <br /> <br /> <br />The subject property. According to the Realist Tax Service website, the subject property contains <br />a 1.75 story home, built in 1920, with 1,770 sf of finished area and a crawl space for a basement. <br />It has 3 bedrooms, 2 bathrooms, deck, front porch and a 1-Car garage. The site is 53 ft wide by <br />165 ft deep or 8,745 sf. The property is owned by River Holdings LLC and is zoned C2, Office <br />District. The property has a Sherburne County property identification number of 754010145. <br /> <br />The scope of the work for this valuation service includes: <br /> contacting the property owner and discussing both the appraisal and the inspection with him; <br /> inspection of the property; <br /> review, analysis and conclusions of zoning, land use regulations, and property taxes; <br /> research, analysis and delineation of the market for older homes on land zoned for office use <br />in the Elk River area; <br /> consideration of the highest and best use of the property; <br /> an analysis of three market values by applying the appropriate approaches to value; and <br /> the preparation and delivery of a pdf of the appraisal report to you at <br />AOthoudt@ElkRiverMN.gov. <br /> <br />The complexity of the appraisal results from analyzing and delineating the markets in the Elk <br />River area both for older single family homes and for office lots. <br /> <br />Following is a list of items that I like to get for an appraisal assignment like this one: <br />1) Contact information for the property owner; <br />2) Access to both the exterior and the interior of the property for the inspection; <br />3) Copies of any leases of the property; <br />4) The last three to five years of income statements for the property, including year to date for <br />2017 and / or 2018; <br />5) Current zoning and land use plan documents if the city’s website is not current; <br />6) Any information about sales, rents, expenses or capitalization rates of this property or similar <br />properties, including any signed purchase agreements or signed offers or signed listing <br />agreements for the subject;