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9) location: <br />si ze: <br />offering price/unit: <br />comments: <br />IH 35, fronts Barnes Gr., with rail access-, <br />approx 15+' acre:-, no improvements <br />$2.25/sq.ft. <br />location or, IH 35 considered ir: <br />adjustments. <br />There is obviously a lack of timely comparable sales of "light industrial" <br />property. Contributing to the lack of comparables is overbuilding, <br />declining demand, the state recession, ond'locai factors. <br />Because of the absence of finalized sales, this appraiser studied the <br />marketing of property zoned "light industrial", and comparing these <br />offerings to the subject. In addition to the traditional adjustments (time, <br />location, topography, utilities, terms offered), an adjustment of <br />approximately 10-20% was made to the offering price (appraiser used <br />experience of local market to arrive at the adjustment %). <br />In evaluating the land, the appraiser considered the subject tract in two <br />separate tracts. One tract of approximately 7.758 acres included all of <br />the improvements, and included the rail frontage, all of the frontage on <br />Uhland Road, and the Uhland/Mill St. corner frontage. This tract was <br />considered to be slightly superior to the approximately 4.5 acre tract in <br />the northeast corner, which is not being used at this time, but with some <br />leveling, could be used or possibly marketed and developed. <br />After studying the market data included herein, the opinion of value of the <br />land only, as of August , is: <br />approx. 7.75 acres (337,590 sq.ft.) i? $1.50/sq.ft....... $50t,385.00 <br />SAY $500,000.00 <br />(this 7.75 acres is the portion with improvements and frontage on Uhland, Mill, <br />and railroad) <br />approx 4.508 acres ( 196,368 sq.ft.) ca $1/sq.ft........... $196,368.00 <br />SAY X200,000.00 <br />(this acreage is the unused land referred to earlier) <br />say $700,000.00 <br />12