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<br />COST APPROACH <br /> <br />While the .current subject improvements offer interim value (improvement interim value viewed <br />to be equally off-set by the future costs of their removal) for storage purposes, it is my opinion <br />that the costs to renovate/remodel the structures is prohibitive and that the Highest and Best Use <br />of the property is. for the structures to be removed and the complete site redeveloped as a large <br />commercial lot As such, in order for the property to be maximally productive, and thus valued, <br />the subject property was valued as vacant land only. Therefore, both the Market Approach and <br />the Cost Approach of the property as improved was omitted as aninappropriate method of <br />valuation. <br /> <br />INCOME APPROACH <br /> <br />The Income Approach was not applicable in this appraisal as the subject property currently does <br />not, nor will into the foreseeable future (potential usage as an improved commercial site would <br />have no separable value attributable to subject site), generate an annual cash flow. <br /> <br />Page - 21 <br />