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75L - PH - RESO NECESSITY 2240 S BRISTOL
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75L - PH - RESO NECESSITY 2240 S BRISTOL
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Last modified
6/19/2017 9:05:03 AM
Creation date
6/15/2017 4:21:55 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
75L
Date
6/20/2017
Destruction Year
2022
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Conclusion <br />After adjustments for market conditions, the comparables establish a fair market <br />value range for the subject property between $572 and $1,245 per square foot as <br />shown in the following table. Comparable Nos. 1 through 4 are rated inferior, while <br />Comparable Nos. 5 and 6 are rated superior. Based on the subject property's size, <br />location and condition, a value above $622, but below $852 is indicated for the subject <br />property. <br />A fair market value of $670 per square foot is concluded. Based on the preceding <br />investigation and analysis, the fair market value of the subject property, as of November <br />29, 2016, is calculated as follows: <br />INDICATED VALUE - SALES COMPARISON <br />APPROACH <br />2,894 SF X$670PSF= $1,938,980 <br />ROUNDED <br />75L-27 <br />$1,940,000 <br />Indicated Values <br />Comparable <br />Overall <br />Indicated $ISF <br />No. <br />Comparability <br />1 <br />Inferior <br />$572 <br />2 <br />Inferior <br />$572 <br />3 <br />Inferior <br />$572 <br />4 <br />Inferior <br />$622 <br />Subject <br />..... <br />$670 <br />6 <br />Very Superior <br />$852 <br />5 <br />Very Superior <br />$1,245 <br />A fair market value of $670 per square foot is concluded. Based on the preceding <br />investigation and analysis, the fair market value of the subject property, as of November <br />29, 2016, is calculated as follows: <br />INDICATED VALUE - SALES COMPARISON <br />APPROACH <br />2,894 SF X$670PSF= $1,938,980 <br />ROUNDED <br />75L-27 <br />$1,940,000 <br />
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