7. EDSR 11-13-2007 - Laserfiche WebLink

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Sales Comparison Approach -- continued Listed below is the adjustment grid for the comparables listed on the previous pages. Comparable items of significant difference are adjusted for. n parlson rid SUBJECT COMP1 COMP2 COMP3 COMP4 COMP5 COMP6 Address NEC of Line Ave & 181st Ave, EIk River 11150 -179th Avenue NW, Elk River 17035 Yale Court NW, Elk River 11175 -183rd Circle NW, Elk River 18201 Carson Street, EIk River 16904. 198th Avenue, Bi Lake 19695 Holt Street NW, Elk River Proxima Sub'ect 1/4 mile S 1 3/4 miles S 1 lot N 1/4 mile SW 7 miles NW 2 miles NW Terms Market Market Market Market Market Market Market Conditions T ical T ical T ical T ical T ical T ical T ical Date of Sale Current Dec-05 Mar-07 Oct-04 Au -06 Nov-06 Jan-05 Location Good Good Av /Good Av /Good Good Avera a Excellent FrontNis Av /Good Av /Good Good None Excellent Good Excellent Zonin IUse Commercial Bi Box Retail Bank Auto Bod Retail Stri Ctr Clinic Bank Utilities Available Available Available Available Available Available Available Phys Char Wooded/Sloped Mostly Rect Open/Level Irregular Open/Level Mostly Rect Wooded/Sloped Mostly Rect Open/Level Mostly Rect Open/Level Mostly Rect Open/Level Irregular Sale Price N/A $972,570 $755,000 $522,720 $2,120,000 $1,795,016 $931,360 Site Size SF 195,584 144,619 87,555 130,680 178,160 263,538 54,450 Price/SF $6.73 $8.62 $4.00 $11.90 $6.81 $17.10 ADJUSTMENTS Terms Cash E . Conditions Typical MarketAd'. Current 7% 2% 12% 5% 4% 11% Net Ad' 7% 2% 12% 5% 4% 11% Effective $/SF $7.20 $8.80 $4.48 $12.49 57.08 $18.99 Location Good 10% 10% 20% -25% H Fronta a None -10% 20% -20°/ -10% -10% Zonin /Use Commercial 15% Utilities Available Ph sChar Wooded/Slo ed -10% -10% -10% Site Size SF 195,584 -15 % 15% -25 Net Ad 0% -25% 45% -30% 1SYe -60% Ad Unlt 5730 6.Btf E6.50 56.78 56.1lS 57.59 "Slight deviations may exist due to rounding. Discussion of Adjustments Cash equivalency of sale: The impact financing may have had on the sale price, favorable interest rate or term. All of the sales were cash or estimated to be near or at market rates. Conditions of sale: Reflects non-market conditions that may or may not impact the sale price, such as differing motivations of buyer or seller (related parties, distressed or liquidation sale, assemblage, listings, pending sales, etc.), impending eminent domain proceedings, influence due to tax ramifications or lack of market exposure. All comparables considered to have normal market conditions. Market Adjustment: An adjustment of 4% is used to account for appreciation. Nagel) Appraisal & Consulting 1952-544-8966 ~ www.callnagell.com 27