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CONCLUSION OF VALUE <br />The approaches most often relied on by buyers of this type of property have <br />been developed. Thus, the sales comparison approach is developed as the primary <br />value indicator. The cost and income approaches are rarely considered by buyers in <br />this market and are less reliable than the sales comparison approach as the typical <br />buyer of the subject property would be an owner - occupant. There are limited investor <br />sales with reported overall capitalization rate data in this building market segment and <br />data for signed leases is of limited quantity and quality. The income approach has <br />been developed, but is given less weight in the final conclusion of value. The cost <br />approach is rarely used by buyers in this market and does not tend to produce reliable <br />valuation results; the cost approach has not been developed. <br />APPRAISAL CONCLUSION <br />Considering the data and analyses presented, the opinion has been formed that <br />as of October 30, 2015, the fair market value of the subject property is: <br />INDICATED VALUE <br />Sales Comparison Approach $504,000 <br />Income Approach $496,000 <br />Reconciled Value (Rounded) $504,000 <br />75A -17 <br />