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APPENDIX F <br /> Miscellaneous—Listing Agent Letter <br /> ht"E po S'-PM-J 4350 Eaku Final,Sine 40C ;9u2 557 7r'.i;i -- - <br /> Mimomb.MN 55349 952 897 7704 <br /> www,cdliers.Com - rt •' <br /> 711/2016 <br /> Patrick J.Brama <br /> City of Ramsey <br /> Economic Development Manager <br /> 7550 Sunwood Drive NW <br /> Ramsey,MN 55303 <br /> RE:6401 highway 10,Ramsey,MIS 55303 <br /> Patrick, <br /> Colliers International is pleased to present a 1.64 acre former Shell Gas station to the market.1n its <br /> current condition,the subject property is a closed 3,900 SF building with a 4,683 SF carwash <br /> totaling 8,583 SF.The property has a modern layout with a retail sales area that allows for the sale of <br /> many food and beverage products,as well as the ability to house two express serve fast food <br /> restaurants. <br /> Our asking price for the property is$695,000.In 2015,Calhoun.Companies listed the property for <br /> $1,495,000-Ownership has given clear direction the property must be sold in 2016.The price <br /> reduction has increased our marketability and overall reach to prospective buyers. <br /> This property is ready for private sector investment.with the aggressive listing price,a real estate <br /> investor can buy the property.add CapFx,and be ready to lease+,'-3,900 SF of retail space at <br /> aggressive lease rates.I)ue to the investor's low basis in the property,bcishe should be able to <br /> quickly add net operating income to this closed gas station. <br /> By selling this property back to the private sector now,the cost for the State to repurchase in the <br /> future will be substantially higher than 5695,000.Not only will the State have to relocate the tenants, <br /> but they will also be required to purchase the property based on the income being generated.This <br /> will raise the price significantly compared to the price at which the property is currently being. <br /> marketed. <br /> Thank you For your consideration. <br /> Sincerely, <br /> �� rW7'--� <br /> Nate Flarisen <br /> Colliers International <br /> 952-374-5856 <br /> Nate.Hansen(a Colliers.com <br /> —AJ0 <br /> Page 16 of 19 <br />