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CBRE REAL ESTATE MARKETING AND BROKERAGE SERVICES PROPOSAL <br />PROPERTY SUMMARY <br />ADDRESS: 5195 142ND AVE NW <br />PID: 253225430043 <br />LEGAL: Lot 1, Block 1, River's Bend Plaza 2nd Addition, Anoka County, Minnesota <br />ACRES: 1.01 <br />VALUATION: $195,900 (County, 2013) <br />ZONING: B1 Business District <br />MUSA: Yes <br />DESCRIPTION: The subject property is located on the east side of Saint Francis Boulevard and on the north side of 142nd <br />Avenue. This property is the former Amoco Oil Station and it is now vacant. This property is zoned Business District and is <br />surrounded by businesses. A small bluff is located on the west side of the property. Besides a number of restrictions placed <br />on the property from the previous owner (see owner and encumbrance report), this property is ready to be sold. The City <br />has put a significant amount of investment in the property (between acquisition, demolition and clean up). <br />WETLAND: No reason to use property for wetland banking. There are no issues with wetlands that would make this property <br />unusable; or, affect adjacent properties. <br />MAINTENANCE: Mowed 6 times per year—$75 per mow ($900). <br />OWNER & ENCUMBRANCE: This is the former Amoco Oil Station site. The City has marketable title to the parcel and it can <br />be sold, however, it is encumbered by Amoco Oils' several restrictive covenants on the use of property. See attachment for <br />details. Generally, the restrictions prevent the sale of petroleum, prevent excavation, and prevent residential development. <br />DISPOSITION: The city is free and clear to sell this property. The subject property is suitable for a number of uses (that <br />require minor excavation based on the O&E report). <br />C I CBRE <br />