Laserfiche WebLink
Lakeview Properties of MN LLP <br /> <br />12967 Crooked Lake Lane Office: (612) 757- 0122 <br />Coon Rapids, MN 55448 Fax: (612) 757- 3079 <br /> <br />Anoka County Government Center <br />Attn: Diane Stellmach, Assessor's Office <br />2100 Third Avenue <br />Anoka, MN 55303 <br /> <br />April 5, 2000 <br /> <br />Subject: PIN 34 32 25 0004, at 6740 NW Highway 10 (Ramsey, Commercial/Industrial) <br /> <br />Dear Ms. Stellmach, <br /> <br />The purpose of this letter and attachments is to appeal the Estimated Market Value of subject <br />property for tax payable years 2001 and beyond. This appeal is based on the following facts and <br />information, which I have been attempting to get into your hands personally since March 20, <br />2000. <br /> <br />1. The Subject property is located immediately adjacent to the sexually oriented XXX shop. <br /> This location has been the stated reason for rejection by numerous potential tenants. <br /> <br />2. The office building, comprised of 4,000 gross square feet, but only 2,970 BOMA net rentable <br /> square feet, is presently operating at an occupancy level of 39%, at below market rents. We <br /> believe both the 61% office building vacancy and low rents are attributable to item (1 .) <br /> above. <br /> <br />3. The majority of the office building has been vacant since March, 1998. The 600 sq. ft. office <br /> at the south end of the storage building has been vacant since the spring of 1999. Refer to (1) <br /> <br />4. Over the past 26 months, three Real Estate firms have listed Subject property for rent, <br /> without positive results. Signs from one firm are still on the property. [See item (1.) above.] <br /> <br />5. We have repeatedly advertised the availability of office space in Anoka areas newspapers <br /> and the Minneapolis Tribune since March, 1998. In addition, highway and access road signs <br /> continually advertise office space for rent. We have upgraded the building to maintain an <br /> acceptable appearance, and responded to ad/sign inquiries (see attachments) by offering <br /> below market rents and flexible lease terms. <br /> <br />6. A summary of the actual 1999 and projected 2000 revenue and operating expenses is as <br /> <br />follows: <br /> <br />Year Gross Revenue Operating Expenses Net Operating Income <br /> <br />1999 $ 33,743 $19,727 $14,016 <br />2000 (est.) $ 37,500 $ 20,444 $17,056 <br /> <br />Your office has not responded to my requests for your backup data and work papers which <br />have Ied to an increase in Estimated Market Value of 27% over a two year period. We again <br />request copies of the data which has led to these dramatic increases in the assessor's <br />estimated market value. <br /> <br />qt'/ <br /> <br /> <br />