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TITLE: <br />Fee title to the subject property is vested in: City of Ramsey. See copy of <br />county property records in the addendum. <br />LEGAL DESCRIPTION: <br />PID #'s 27- 32 -25 -42 -0015. Lot 1, Block 1, Sunfish Lake Business Park 4' <br />Addition. <br />ASSESSOR'S MARKET VALUE: <br />The Anoka County Assessor has placed estimated market values on the subject <br />property as follows: <br />Land (2010 EMV) <br />Improvements (2010 EMV) <br />Total (2010 EMV) <br />Land (2011 EMV) <br />Improvements (2011 EMV) <br />Total (2011 EMV) <br />Land (2012 EMV) <br />Improvements (2012 EMV) <br />Total (2012 EMV) <br />PROPERTY TAX INFORMATION: <br />Real estate taxes due in 2012: <br />Special Assessment taxes due in 2012: <br />all parcels <br />all parcels <br />all parcels <br />all parcels <br />all parcels <br />all parcels <br />The value herein estimated assumes that delinquent real estate taxes and <br />special assessments, if any, are paid in full. <br />NEIGHBORHOOD DESCRIPTION: <br />The City of Ramsey is a mostly stable community with convenient access to all <br />areas. The latest population records available indicate the population in 2010 was <br />23,668 which is an increase of about 28% from the population in 2000 of 18,510. The <br />topography is mostly level to rolling land under mixed uses of mixed styles, sizes, <br />ages and values. Growth rate is stable and property values have mostly stabilized <br />since 2007 and in many cases (residential) are declining. Supply and demand of <br />residential single family lots appears to be out of balance. There is an over supply <br />and under demand of residential building sites as the residential market continues <br />to recover. Most developer's are holding steady and are not purchasing land for <br />future developments and many have discounted existing lot prices to sell off <br />inventory. The number of foreclosed properties in the market have stabilized since <br />2010/2011. The result of many bank owned properties is declining sale prices. <br />Commercial /industrial land values stabilized through 2006 and have been declining <br />from 2007 through the end of 2011. Commercial /industrial land values appear to be <br />mostly stable during 2012. It appears there is a slight over supply and under demand <br />of vacant commercial /industrial land for future development in the area which is <br />driving prices down and marketing times longer. According to the City of Ramsey, <br />there are 3 industrial land parcels on the market for sale and many commercial and <br />residential parcels on the market. One industrial parcel is .95 acres and listed for <br />$112,100 or $2.71 per square foot, another is 4.14 acres and listed at $488,700 or <br />$2.71 per square foot and 1.24 acres and listed at $176,800 or $$3.27 per square <br />foot. Property compatibility and appearance are average. Most commercial buildings <br />are wholly or partially owner occupied and the vacancy rate has been increasing to <br />about 8% to 15%. <br />7 <br />$ 395,900 <br />0 <br />$ 395,900 <br />(05%4) $ 376,500 <br />0 <br />$ 376,500 <br />(11°%4) $ 339,000 <br />0 <br />$ 339,000 <br />City Owned - Tax Exempt <br />City Owned - Tax Exempt <br />