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NAGELL APPRAISAL INCORPORATED <br />12805 Highway 55, #300 <br />Plymouth, MN 55441 <br />Established in 1968 <br />Minneapolis: 952-544-8966 <br />St. Paul: 651-209-6159 <br />Central Fax: 952-544-8969 <br />Anoka County Transportation Division <br />Attn: Lorelei Stone, Right of Way Specialist <br />1440 Bunker Lake Boulevard Northwest <br />Anoka, MN 55304 <br />To Lorelei Stone: <br />December 19, 2018 <br />In accordance with your request, an appraisal report has been made on the following described <br />property: <br />Subject Property: <br />Highway Commercial <br />8175 Riverdale Drive Northwest <br />Ramsey, MN 55303 <br />Described below is a summary of the appraisal report contained herein. <br />Property Overview <br />The subject is a single occupant commercial building located in the City of Ramsey along Highway 10. <br />The building was formerly used for a RV dealership. <br />The building was constructed in 1997, per county. The gross building area is 7,596 SF, and the site size <br />is 30,452 SF. Overall, the building is rated to be in dated condition and has average appeal. <br />Currently, the subject is not connected to public sanitary sewer. The subject formerly had an underground <br />septic tank that would be pumped, however, this is no longer legal (per client). In the event of a sale the <br />subject would have to connect to public sewer. Given this, the subject will be appraised as if being <br />connected to public sanitary sewer, and then the cost to connect will be deducted to indicate the as is <br />value. <br />The Ramsey County Community Development Director, Tim Gladhill, provided a cost range of $20,000 to <br />$30,000 to get the sanitary sewer to the property boundary. The estimate did not have a cost to connect <br />the building to the sewer (another underground pipe). This cost is estimated, based on past experience <br />and Marshall & Swift Cost Manual, to be around $10,000. An investor would also likely consider the cost <br />of potential overruns, as well as management, say, $10,000. Therefore, the total estimated cost to <br />connect to public sanitary sewer is estimated to be $50,000. <br />Anoka county completed a new interchange to the east of the subject along Highway 10. As a result, the <br />subject was fully acquired by the county for eminent domain purposes. The county is now considering the <br />option of selling the building; this appraisal is part of the decision -making process. <br />Report Use <br />Decision making purposes regarding a potential sale <br />Intended User(s) <br />Anoka County Transportation Division <br />iii <br />