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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 />Land Value: (Continued)
<br />After considering the various elements of comparability, as well as economic and financial
<br />conditions prevailing during the consummation of the various sale properties, when compared
<br />to current market conditions, it is the appraiser's opinion that the unencumbered fee simple
<br />market value of the subject site, as if vacant and available for a highest and best use
<br />development, is estimated at $45.00 per square foot of land area, as follows:
<br />40,501 SF @ $45.00 = $1,822,545
<br />Value as Improved:
<br />Following is a summary of those sales considered helpful when estimating the value of the
<br />subject property as presently improved with the fast food restaurant facility.
<br />Land Size Corner Zoning Land /Bldg. $ /SF Land
<br />Data Date Bldg Size Built Drive- throueh Ratio Sale Price $ /SF Bldg.
<br />1. 11 -12 30,000 sf no PC -15 12.50:1 $1,925,000. $ 64.17
<br />2,400 sf 1979 yes $802.08
<br />4501 Jamboree Road, Newport Beach
<br />2. 12 -12 33,106 sf no C -1 9.55:1 $2,595,000. $ 78.38
<br />3,465 sf 1998 yes $748.92
<br />2100 East 176' Street, Santa Ana
<br />3. 2 -13 24,606 sf yes C -1 6.84:1 $2,710,000. $110.14
<br />3,600 sf 1965 yes $752.78
<br />222 North Euclid Street, Fullerton
<br />75A -13
<br />Overall
<br />Data
<br />Comparability
<br />Per SF
<br />A
<br />inferior
<br />$28.33
<br />B
<br />inferior
<br />$39.67
<br />C
<br />similar
<br />$40.05
<br />Subject
<br />- - - -
<br />$45.00
<br />F
<br />similar
<br />$47.09
<br />E
<br />similar
<br />$48.99
<br />D
<br />superior
<br />$52.35
<br />After considering the various elements of comparability, as well as economic and financial
<br />conditions prevailing during the consummation of the various sale properties, when compared
<br />to current market conditions, it is the appraiser's opinion that the unencumbered fee simple
<br />market value of the subject site, as if vacant and available for a highest and best use
<br />development, is estimated at $45.00 per square foot of land area, as follows:
<br />40,501 SF @ $45.00 = $1,822,545
<br />Value as Improved:
<br />Following is a summary of those sales considered helpful when estimating the value of the
<br />subject property as presently improved with the fast food restaurant facility.
<br />Land Size Corner Zoning Land /Bldg. $ /SF Land
<br />Data Date Bldg Size Built Drive- throueh Ratio Sale Price $ /SF Bldg.
<br />1. 11 -12 30,000 sf no PC -15 12.50:1 $1,925,000. $ 64.17
<br />2,400 sf 1979 yes $802.08
<br />4501 Jamboree Road, Newport Beach
<br />2. 12 -12 33,106 sf no C -1 9.55:1 $2,595,000. $ 78.38
<br />3,465 sf 1998 yes $748.92
<br />2100 East 176' Street, Santa Ana
<br />3. 2 -13 24,606 sf yes C -1 6.84:1 $2,710,000. $110.14
<br />3,600 sf 1965 yes $752.78
<br />222 North Euclid Street, Fullerton
<br />75A -13
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