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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 />The Sales Comparison Approach was utilized to estimate the value of the subject land parcel after <br />an investigation and analysis was conducted of recent sales involving reasonably comparable land <br />parcels within the greater subject market area. <br />Land Value: <br />Following is a summary of the sales considered helpful when estimating the value of the subject <br />land, as if vacant and available for a highest and best use development. <br />Street <br />Data Date Zoning Land Size Alley Corner Frontage Sale Price $ Per SF <br />A. 2 -13 CR 34,412 sf no yes 240 feet $ 975,000. $28.33 <br />SWC Katella Ave. and Batavia St., Orange <br />B. 3 -13 C -2 25,210 sf no yes 330 feet $1,000,000. $39.67 <br />SEC First St. and Newhope St., Santa Ana <br />C. 6 -13 C -2 27,443 sf no yes 315 feet $1,099,000. $40.05 <br />NEC Garden Grove Blvd. and Adelle St., Garden Grove <br />D. 7 -13 C -1 36,296 sf no yes 230 feet $1,900,000. $52.35 <br />SWC Westminster Ave. and Hope St., Garden Grove <br />E. 8 -13 SP92 -2 57,160 sf no no 275 feet $2,800,000. $48.99 <br />S/S Ball Rd., 132±' E/O West PI., Anaheim <br />F. 11 -13 C -1 14,866 sf no yes 225 feet $ 700,000. $47.09 <br />NWC Euclid St. and Fourth St., Santa Ana <br />The properties surveyed are located within the general subject vicinity, and represent the most <br />recent comparable land sales available for analysis. The properties range in size from 14,866 <br />to 57,160 square feet of land area. The overall purchase prices range from $700,000 to <br />$2,800,000, reflecting a relatively wide range of value between $28.33 and $52.35 per square <br />foot of land area; the predominant range is between $39.67 and $48.99. <br />Certain of the land sales data considered extended over a time period back to the first quarter of <br />2013. The time frame permitted the development of a rather comprehensive real estate market <br />profile. The sales employed in this report are set forth in chronological order, and took place <br />between February 2009 and November, 2013. Differing market conditions were considered in the <br />analysis of the individual sale properties. <br />75A -11 <br />