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LAND COMPARABLE • • COMPARABLE <br /> Location& Property Identification <br /> 90th Street NE&Quantrell Z <br /> Property Name: Avenue NE 1 2 <br /> Sub-Property Type: Land:Commercial as G• iia b 1 t <br /> 90th Street NE&Quantrell <br /> Address: Avenue NE <br /> City,State,Zip: Otsego,MN,55330 0 <br /> County: Wright <br /> fi <br /> MSA: Minneapolis/St.Paul -)i t 2 00 <br /> Legal/Tax/ParcelID: 118-264-000030,&-000040 �44oi <br /> 1z <br /> Acres(gross): 3.34 <br /> t18217 <br /> Land SF(gross): 145,490 <br /> Acres(usable): 3.34 <br /> Land SF(usable): 145,490 <br /> Shape: I rregular <br /> Topography: Generally level <br /> Access: Above Average Zoning Designation: <br /> Visibility: Above Average PUD <br /> Sale Information Comments: <br /> Sale Price: $390,000 This is the sale of two land parcels with above average access <br /> Effective RE Sale Price: $390,000 and visibility along Highway 101 just south of Elk River where <br /> Sale Date: 10/11/2016 Highway 101 meets Highway 10/169. The buyer,who has no <br /> List Date: 8/1/2016 immediate plans for development,is also assuming the <br /> Sale Status: Closed outstanding special assessment balance of$105,705.50. <br /> However,the buyer anticipates meeting the minimum value <br /> $/Acre(gross): $116,766 threshold once the site is developed in order to qualify for a <br /> $/Land SF(gross): $2.68 development incentive payment from the City in the amount of <br /> $108,690.35. As such,the buyer considered the two amounts <br /> $/Acre(usable): $116,766 to offset each other. These parcels were lender-owned,and <br /> $/Land SF(usable): $2.68 based on our verification of the sale,this appears to have <br /> negatively influenced the price achieved. <br /> Grantor/Seller: GCI Capital <br /> Grantee/Buyer: Otsego Devs,LLC <br /> Property Rights Conveyed: Fee Simple <br /> %of Interest Conveyed: 100% <br /> Terms of Sale: Market oriented <br /> Buyer,seller,reliable third <br /> Verification Type: party <br /> 90th Street NE&Quantrell <br /> 63 1 Page <br />