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<br />COMPARABLE LAND SALES <br /> <br />Comparable #1 <br /> <br />Comparable #2 <br /> <br />Comparable #3 <br /> <br />Comparable #4 <br /> <br />SellerfBuyer: Holiday Station Stores, IncJLinn Investment Prop., LLC <br />Location: 7151 Riverdale Drive, Ramsey, MN 55303 <br />PID #: 34-32-25~22-0053 (Anoka County) <br />Site size: 34,704 sq ft <br />Sold date: 06-26-08 <br />Sold for: $520,000 or $14.98 per sq ft <br />This property is located 2.0miles NW of the subject at the SE quadrant of the <br />intersection of U.S. Highway #10 & Riverdale Drive. This parcel was split from <br />a larger parcel that sold in Fehruary2007. Although smaller, having better <br />access and visibility (3-sided road), and with long-tenn viability as a commercial <br />site, this sale of a vacant parcel in Ramsey adjusts as a good comparable. <br /> <br />SellerlBuyer: Dehn et at Trustees/Rogers Hospitality,LLC <br />Location: XX Diamond Lake Road, Rogers, MN 55374 <br />PID #: 14-120-23-41-0005 (Hennepin County) <br />Site size: 75,794 sq ft <br />Sold date: 09-26-08 <br />Sold for: $910,044 or $12.01 per sq ft <br />This land is located six miles SW of the subject, and less than )4 mile NE of the <br />intersection ofI-94 and Main Street in Rogers. This sale of a similarly sized <br />commercial site is a good comp when adjusted as having an inferior location, hut <br />with bettervisibility/access. This parcel was split from a larger parcel with 135lh <br />A venue N dividing the parent parcel. <br /> <br />SellerfBuyer: Crown BanklRegent at Maplewood, LLC <br />Location: XX Legacy Parkway, Maplewood, MN 55109 <br />PID #: 03-29-22-11-0008 (Ramsey County) <br />Site size: 128,502 sq ft <br />Sold date: 09-03-09 <br />Sold for: $1,640,000 or $12.76 per sq ft <br />This site is located 25 miles SE of the subject and just west of the Maplewood <br />Mall at the intersection of Legacy Pkwy and Kennard Street. Although having <br />very good visibility via 3-sided roads and a betterlocation in Maph:~wood, this <br />very recent sale of a parcel larger than the subject adjusts as a good comparable. <br />This site was purchased to be developed as an apartment complex. <br /> <br />SellerfBuyer: PosustalComer - DOJO, LLC <br />Location: XX Cedar Street, Monticello, MN 55362 <br />PID #: 155-213.;001010 (Wright County) <br />Site size: 75,359 sq ft <br />Sold date: 12-19-08 <br />Sold for: $751,936 or $9.98 per sq ft <br />This site-is located 20 miles NW of the subject, less than )4 mile south ofI-94, <br />and at the corrier ofMN Hwy #25 and Dundas Road (backside access via Cedar <br />Street). This recent (within one year) sale of a similarly sized vacant commercial <br />parcel makes a good comparable to the subject with no adjustments required. <br /> <br />Page - 18 <br />