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a <br /> HOWARD LAWRENCE APPRAISALS INC. <br /> THE APPRAISAL ASSIGNMENT <br /> The market value appraisal of eight vacant lots in the Elk River <br /> Industrial Park both as eight parcels in separate transactions and as <br /> a combination of all eight parcels in a single transaction. It is <br /> noted that the Park has a special market with a history of sales and <br /> asking prices which can be used as a proper guide to value estimates. <br /> The assigned market values assume that all costs for utilities , street <br /> improvements and any remaining special assessments are paid in full . <br /> All sites are zoned I1 - Light Industrial <br /> • Subsoil testing should be accomplished in the first subdivision. <br /> There are obvious high water table, swamp and soft subsoils. <br /> z. <br /> Seller Agent, Mr. Richard Gongoll , reports that in 1989-90 Lots 7 and <br /> 8 in the original plat were tested by a prospective buyer; a bid to <br /> correct subsoil problems was about • $85 , 000. Buyer did not bid <br /> further on th'e purchase of the lots. <br />• <br /> VALUE ESTIMATES (Eight Separate Transactions ) <br /> MARKETING, <br /> OWNERS SUBSOIL & VALUE AS A <br /> ACREAGE TERRAIN VALUE SEPARATE <br /> SIZE CONDITIONS PER ACRE PARCEL <br /> Elk River <br /> Industrial Park <br /> Lot 1 2 . 11 Sound; dry; $25 ,000 $ 52 , 750 <br /> short holding <br /> time <br /> Lot 4 3 . 69 Peat; wet 1 ,000 3 , 690 <br /> ponded water; <br /> any use questionable <br /> Lot 6 16 .43 Some peat; 2,000 32 , 860 <br /> s some wet; <br /> some high <br /> Lot 7 3 . 28 Some peat; 10,000 32 , 800 <br /> I some sound; <br /> longer holding <br /> i time . <br /> Lot 8 4 . 67 Some peat; 10 ,000 46 , 700 <br /> some sound; <br /> some excess <br /> dirt in pile ; <br /> longer holding <br /> time. <br /> Elk River <br /> Industrial Park <br /> 2nd Addn. <br /> Lot 1 2 . 84 Sound ; level ; 25 ,000 71 , 000 <br /> short holding time <br /> 1 Lot 2 2 . 75 Sound ; level ; 25 , 000 68 , 750 <br /> short holding time <br /> 1 Lot 3 2 . 25 Sound ; level ; 25 , 000 56 , 250 <br /> short holding time <br /> TOTAL - AS EIGHT SEPARATE TRANSACTIONS $364 , 800 <br />