Laserfiche WebLink
Summary of the Basis for Just Compensation (Continued) <br />Sales Comparison Approach: (Continued) <br />The improved properties surveyed contain buildings ranging in size from 840 to 3,852 square feet. The <br />buildings were constructed between 1960 and 1975, and are situated on parcels ranging in size from <br />8,712 to 25,265 square feet of land area. The sale properties employed herein represent the most recent <br />comparable improved sale properties available for analysis. <br />Due to the lack of a representative number of reasonably comparable improved commercial properties <br />having recently sold within the iturnediate subject market area, it was necessary to expand the (1) <br />chronological time frame, and (2) geographic search area to include the nearby communities of Orange, <br />Anaheim, and Costa Mesa. Particular consideration has been assigned to differing market conditions, <br />general location, along withnnmediate environmental influences in the analysis of the sale properties <br />employed herein. <br />After viewing each of the sale properties, and verifying details of the various transactions, the primary <br />unit of analysis employed herein is the overall purchase price. Two other factors developed filom the <br />residential sale properties were utilized as secondary units of analysis; they are the (1) overall purchase <br />price per square foot of land area, and (2) overall purchase price per square foot of building area. <br />The overall purchase prices range from $895,000 to $1,232,500. The purchase prices produce a range of <br />value of $39.58 to $102.73 per square foot of land area, and $259.61 to $1,065.48 per square foot of <br />building area. <br />All of the sales employed herein conveyed title to the fee simple interest, and represent arm's-length <br />transactions. Financing terms of each sale were typical of the subject market area. Adjustments are not <br />warranted for property rights conveyed, conditions of sale, or financing terns. <br />Certain of the improved sales data considered extended over a time period back to the second quarter of <br />2015. The time frame permitted the development of a rather comprehensive real estate market profile. <br />The sales employed in this report are set forth in chronological order, and took place between. April, 2015 <br />and September, 2016. Inasmuch as the sales took place during stable market conditions, adjustments for <br />same are not warranted. <br />After viewing each of the sale properties, and obtaining certain information pertinent to value, the <br />appraiser analyzed the various elements of comparability for each sale property which, among others, <br />include the following: <br />General location. <br />Availability of public alley. <br />Immediate environmental influences. <br />Overall dcvelopability. <br />Zoning. <br />Site frontage/depth ratio. <br />Vehicular and pedestrian access, <br />Site prominence and exposure. <br />Vehicular and pedestrian traffic. <br />Proximity to freeway. <br />Building size/feanires. <br />Building reanedeling, if any. <br />Building age and condition. <br />On-site parking capacity. <br />Construction type and quality. <br />Extent of other on-site imptoveaaents. <br />75M-28 <br />