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SUMMARY OF THE BASIS FOR JUST COMPENSATION (Continued)
<br />Value of Parent Property, Before Taking: (Continued)
<br />Sales Comparison Approach: (Continued)
<br />Value as Improved: (Continued)
<br />The improved properties surveyed contain fast food restaurant buildings ranging in size from
<br />2,400 to 4,006 square feet. The buildings were constructed between 1963 and 2008, and are
<br />situated on parcels ranging in size from 24,416 to 33,106 square feet of land area. The sale
<br />properties employed herein represent the most recent comparable improved sale properties
<br />available for analysis.
<br />The overall purchase price has been utilized as the primary unit of analysis in the Sales
<br />Comparison Approach. Secondary consideration has been assigned to the price per square foot
<br />of land area and purchase price per square foot of building area. The overall purchase prices
<br />range between $1,900,000 and $3,194,500, reflecting $64.17 to $110.14 per square foot of land
<br />area and $622.95 to $830.60 per square foot of building area.
<br />As in the case of the previous land value analysis, differing market conditions were considered
<br />in the analysis of the improved fast food restaurant properties. Certain of the improved sales
<br />data considered extended over a time period back to the last quarter of 2012. The time frame
<br />permitted the development of a rather comprehensive real estate market profile. The sales
<br />employed in this report are set forth in chronological order, and took place between November,
<br />2012 and October, 2013. Inasmuch as the sales took place during stable market conditions,
<br />adjustments for same are not warranted.
<br />After viewing each of the sale properties, and obtaining certain information pertinent to value,
<br />the appraiser analyzed the various elements of comparability for each sale property which,
<br />among others, include the following:
<br />75B -14
<br />Land Size Corner
<br />Zoning
<br />Land /Bldg.
<br />$ /SF Land
<br />Data
<br />Date Bldg. Size Built Drive - through
<br />Ratio
<br />Sale Price
<br />$ /SF Bldg.
<br />4.
<br />3 -13 24,416 sf yes
<br />PR
<br />8.01:1
<br />$1,900,000.
<br />$ 77.82
<br />3,050 sf 1963
<br />yes
<br />$622.95
<br />171 Fast 1s` Street, Tustin
<br />5.
<br />8 -13 29,708 sf no
<br />CT
<br />7.72:1
<br />$3,194,500.
<br />$107.53
<br />3,846 sf 2000±
<br />yes
<br />$830.60
<br />26801 Aliso Creek Road, Aliso Viejo
<br />6.
<br />10 -13 32,485 sf no
<br />C -2
<br />8.11:1
<br />$2,510,000.
<br />$ 77.27
<br />4,006 sf 2008
<br />yes
<br />$626.56
<br />2511 South Bristol Street, Santa Ana
<br />The improved properties surveyed contain fast food restaurant buildings ranging in size from
<br />2,400 to 4,006 square feet. The buildings were constructed between 1963 and 2008, and are
<br />situated on parcels ranging in size from 24,416 to 33,106 square feet of land area. The sale
<br />properties employed herein represent the most recent comparable improved sale properties
<br />available for analysis.
<br />The overall purchase price has been utilized as the primary unit of analysis in the Sales
<br />Comparison Approach. Secondary consideration has been assigned to the price per square foot
<br />of land area and purchase price per square foot of building area. The overall purchase prices
<br />range between $1,900,000 and $3,194,500, reflecting $64.17 to $110.14 per square foot of land
<br />area and $622.95 to $830.60 per square foot of building area.
<br />As in the case of the previous land value analysis, differing market conditions were considered
<br />in the analysis of the improved fast food restaurant properties. Certain of the improved sales
<br />data considered extended over a time period back to the last quarter of 2012. The time frame
<br />permitted the development of a rather comprehensive real estate market profile. The sales
<br />employed in this report are set forth in chronological order, and took place between November,
<br />2012 and October, 2013. Inasmuch as the sales took place during stable market conditions,
<br />adjustments for same are not warranted.
<br />After viewing each of the sale properties, and obtaining certain information pertinent to value,
<br />the appraiser analyzed the various elements of comparability for each sale property which,
<br />among others, include the following:
<br />75B -14
<br />
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