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Sales Comparison Approach — continued <br />Parking/Landscaping: Comparables have similar parking appeal. <br />Building Size: Generally, as building size increases cost of construction tends to decrease. <br />Comparables adjusted accordingly, adjustments based on the Marshall & Swift cost manual and market <br />observations. <br />Conclusion: The comparables used are rated to be the most indicative of data analyzed and bracket the <br />subject value. Other sales reviewed were older, further and/or needed more adjustment. Adjustments are <br />made on a per square foot basis. The comparables utilized in this analysis each have several similar <br />characteristics in common with the subject. While none are totally identical to the subject, each <br />represents a viable alternative to a prospective buyer of the subject property and, after adjustment, can <br />be utilized as an indicator of market value for the subject property. <br />Indicator <br />Un-adjusted Price per SF <br />Adjusted Price per SF <br />Range <br />$70.39 - $167.05 <br />$71.09 - $102.23 <br />Average <br />$104.46 <br />$86.18 <br />Median <br />$99.82 <br />$87.58 <br />About equal weight is accorded to the comparables. Given the above data, the subject location, <br />characteristics, quality, and the current market conditions, a value near the mid -range is considered <br />appropriate. <br />Size (GBA SF) <br />Value per SF <br />Total <br />7,596 <br />$90 <br />$683,640 <br />Sales Comparison Approach (fee simple, with public sewer): <br />$685,000 <br />Less cost to connect to public sewer: <br />($50,000) <br />Sales Comparison Approach (fee simple, without public <br />sewer): <br />$635,000 <br />