10/03/1990 Contract
CONTRACT FOR SALE AND PURCHASE
SELLER:_ Upper Key West Plaza Corporation c/o
Inc. Recllty.
Phone and MONROE COUNTY, a political subdivision of
the State of Florida, (Buyer), Public Service Building, Stock
Island, Key West, Florida 33040, Phone (305)296-4641, hereby
agree that the Seller shall sell and Buyer shall buy the
followirlg real property (Real Property) and personal property
(Personalty) (collectively Property) upon the following terms and
conditic.ns which INCLUDE the Standards for Real Estate
Transactions attaches (Standard(s) and any addendum to this
ins trume~n t .
Greg 0 ' Berry
I. DESCRIPTION: (a) Legal description of Real Property located
in Monroe County, Florida: See Apraisal Report for Tract A
Porpoise Point Section Six
Bi~ Coppitt Key~ Florida.
(b) treet address, city, zip, of the Property is
II. PUR.CHASE PRICE ------------------------- ~ 179,000.00
PAYMENT:
(b) Balance,to Close , subject to
adjustments and prorations --------------$ 179,000.00
III. TIME FOR ACCEPTANCE; July 30, 1990; The date of this
Contract ("Effective Date") will be the date when the last one of
the Buyer and the Seller has signed this offer.
IV. TITLE COMMITMENT: At least twenty (20) days before closing
date, SE~ller shall, at Seller's expense, deliver to Buyer of
Buyer's attorney, in accordance with Standard A, title insurance
commitment.
v. CLC~SING DATE: This transaction shall be closed within 60
days of date of contract. Title insurance and other closing
papers delivered within thirty (30) days of the satisfaction of
all contingencies.
VI. RESTRICTIONS: EASEMENTS: LIMITATIONS: Buyer shall take
title subject to: zoning, restrictions, prohibitions and other
requirem1ents imposed by governmental authority; restrictions and
matters lappearing on the plat or otherwise common to all subdivi-
sion; pu.blic utility easements of record (easements are to be
located contiguous to Real Property limes and not more than ten
feet in width as to the rear or front lines and 7 1/2 feet in
width as to the side lines, unless otherwise specified herein);
provided, that there exists at closing no violation of the
foregoing and none of them, except zoning restrictions, prevents
the use of the Real Property for construction of a fire house
purposes ,.
Seller warrants that property is zoned Suburban Commercial at the
time of 1:he execution of the contract.
.. VII. OCC'UPANCY: Seller warrants that there are no parties in
occupancy 6ther than Seller.
VIII. T'YPEWRITTEN OR HANDWRITTE~l PROVISIONS: Typewritten or
handwritten provisions shall control all printed provisions of
Contract in conflict with them.
VIII. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: ~ypewri~en or
hand writ~en pro~isions shall control all printe~ pr~istk9n~ of
Contract 1n confl1ct with them. ::0 0 :~:: C":) fT1
C~) r-. -[", --i 0
fll >~\: -.. '. ......... - 'T1
o 0 r'o. -oJ 0
g ::0 :;.~ :: {)
-,. Co'")
~o~
:< :-1 ~
.." G")
!; rrJ
-0 ::0
::3 ",
C)
t--' 0
:::0
C) 0
en
IX. P~SSIGNABILITY: Buyer may not assign Contract.
Buyer:
(SEAL)
Attest: l)ANNY L. X:OtBAGE, Clerk
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
,I ~ ,... 1/ ___(- f
/L/ytf~ /
a1..rman
By
APMo~ AS 70 FORlV!
A.YD LEGAL SUFFICIENCY.
Date
II) .. ~- 9~
..
(SEAL)
8Y t
,Attorney'8 Office
Seller:
UPPER KEY WEST PLAZA CORPORATION
Attest:
r-
./
I
By rr~ t#U.4
~ retary,9f~easurer
'1fl1 f,K~
ID NT
H44790
TAX ID
Date September 4, 1990
BROKER'S FEE: ( Check & Complete the one applicable)
)( If a Listing Agreement is currently in effect: Seller
agrees t:o pay the Broker named below, including cooperating
sub-agents named, according to the terms of an existing, separate
listing agreement;
OR
If no Listing Agreement is currently in effect: Seller
shall pay the Broker named below, at time of closing, from the
disbursenlents of the proceeds of the sale, compensation in the
amount ojE % of gross purchase price OR $ , for
Broker's services in effecting the sale by finding the Buyer
ready, willing and able to purchase pursuant to the foregoing
Contract. If Broker fails to perform and deposit(s) is retained,
50% thereof, but not exceeding the Broker, and the balance shall
be paid to Seller. If the transaction shall not close because of
refusal or failure of Seller to perform, Seller shall pay the
. full fee to Broker on demand. In any litigation arising out of
the Contract concerning the Broker's fee, the prevailing party
shall recover reasonable attorney fees and costs.
,. ;) ;::- #i
( >--A-rh /'. .. _ · 7~- /(J. K~
· "..,/ /, I'./J .. / .";) /I '0 ELLER
1/ /).{~ CL2.I.C[L'~G..V/--;n:jl-/1jk:/'-~j)}~ ,
,-FIL~~.NO',^,~.~j\' ~~Hjl~U~,l:~r~}l:l_JdJ;J:::l;~:.I:-Jl':d_:r~'~~":~~_h: J'~_,~':,,,_~_'='.____ L......__ :,.... __.. .J.., . _ ___.,__ _._.
~~ R POR;TI ON -- -"'i1'''-::: . i' I DO ...:. r,,~ITc .N TH.,> i.I- ~CE.
FLORIDA DEPARTME:NT OF 8TATE
Gec,rge Fir81't0:'18
Secretary of State
DIVISION OF CORPORATIONS ~
.NNUAL REPORT
1987
.. R.ad Notice and Inltructlon. 0" Other I'd. 8,'or. Ua1dn.8 Enl,I.. ' .. " \
IlIng F.. of $25 Requl~8d - Make Checks Payable To~ SecI.'.ry'o' St.t."t;'~;
am. and Addr... of Corpor.,Uon PrincipII Office:
2. Enter Change of Addre.. ot Corporation Principal
Office, P.O. Box Number Alone I. NOT Sufficient
H44790
LFPE:R ~' l.E5T FlAZA. ItC.
W. 9<H: [l( & O1Ill-ERli'E 5T
PO BOX 9JS
~'KEY. F"L 330E
4
Stre.t Addres. 21
P.O. Box No. 22
City and State 23
If above addr... I. Incorrect 1n any way, enler the correct addra.,
In item 2. lnclulcte Ztp Cod..
Zip Code 24
lat. Incorporated or Quallft.d ~ ~ ~ ... Feder.1 Employer
'000 Bu.tn.,,'n Florida ....,1; 1J"1~ Identification Number (FEIN)
.m.. and Street Addr..... ot Each Offic., and Dlrecior. a8 ot December 31. 1986
Stretlt Address of Each..'
Officer and Director
Do NOT Use Post Office 80x Numbers
5, Oate'Of " ~ ~1~ ~1~
. ~.La.t R~ort...~'~ Ql"" ~
. .,. ". .' ,. . ". ~
, ' :. ,. ~""'r'..,c..
~
'~om.a of Office,.
and Director.
TIUe
2
3
4
City and State
5
5. CLEG S/T 18 ~ AVE:t-U::
s. ~CiI::RV P 18 ~ A'IEI'U:
PPI~. ~ 0 1407 12TH STREET
pt:)I~. ~. JFt 0 165 KEY t-t:lVEN RQ:()
)LMES, Lydia D P. O. Box 905 .
West Shore Drive
LIVI~TCN:, NJ
LIVItG3TQ\E, NJ
KE.Y ~ST. FL
KEY 'l..EST. FL
Summerland Key, FL 33042
'. REG.'STEREO AGENT INFORMATJON;~~:': ~ :I"~:::,~\~~';
8. Name and Addre.". of Ne)'V Rag.stered Agent
Name 81
7. Nam_8 and Addr.,. of Current Regt,te,ed A ent
Strt~tll Address" tOo NOT Use P.O. Box Number) 82
LrES. ROOERT E.,
SH:R: ~ & CA~!Ii'E ST (PBX 22
~ KEY. FL 33J42
$3.00 sddltlo
1) Street Addre.. 2 (00 NOT UI' P.O. Box Numb.r) 83
City and State 84 ....:......
J 't"~ I Zip Code 85
, -L
,-" " ;, .
-. ... ... .....................
",
. Flortda Statutea. the above-named corpore~lon, Incorporated under the I.w, 0; the ~t.t. of Florida, submits
. or regtaterect agent. or both, In the State of Florida.
. board of director. on:
famlli.r with, and accept the obUgationa of. Section 607.325 F.S. ...,---
. .
DATE
ent)
nal fee required for Registered Agent changes.
- . --
.,trlction, under instruct/on I; on reVer$8 side 01 thi, form.
acalve, or Trulltee Empowered to Execute Thi, Report I' Required by Chapter 607 F.S.
hi. Rsport Shalf Have the Same Legal EHect. As If Made Under Oath.
..-
Date
I Tille Telephone Number
I
n
:0
N
m
o
~
PurauantlO the provl"onl 01 Section. 807.034 and eo7.037
a .tatement fo, the pu,poH of c:hanglng Ita reglatered attic
ch change wa. authorized by r..olutton duly adopted by It
,er.by accept the appointment of regt.tered agepl. I am
GNATURE
(R.g..tared ~'g.nt Accepting Appotntm
en
~
-
s.. "gn.tur. r
I Certify Th.t I Am An Office' of the Corporation. the R
I 'urther Cer1tfy That I Under.tand My Stgnaturl_ On T
(Offtc.r 'Ignlng mu'l b. lIall'd In Block 8).
nature
I.d Name of Signing Oftlc.r
CERTIFICATE OF STATUS DESIRED
o
ShOUld you d..ir. . certUtcat. of .tltU' check the box.
----~-~-~-~~~~--~_._------~-~~~~--~..~~--~-~~~~~--~~--~.---~~.._~~~~--~~---~~---~~-~~-~--~~-----~~--~-~-~--
133C64
DO NOT DETACH Tt1'S STUB
"1987 ANNUAL REPORT
)0 NOT WRITE OR MAKE ANY MARKS ON ..THIS STUB
()
:n
M
m
o
w
.,..
CD
~
H447~D 4
LPPER t<E:V l..ES1. A...A2A. IN:.
],! Lt 47'0 4
_.~- - ----.,,-;-
~-w-- _JAl l
c~t
MANAGEMENT
ocr 0 2 90
SEI1VICES
.-. !.'..- ..--. ,''';' "'""~ ... . .... I
, ~,' ... ~... .,
~~.o... ~. '.., -;.'"l'I , !~,..." --. "
.,..;: ~ '~"!''''''~~~ ",,,,." ,.... . '
..
~.~u-.\.,. ._ .. ..... ..1' ,.,t. ...._.. ,.wa.. . .
.....".,.. ;,..' ~.. ..: . - ; ..' to' ". ..
c.:~.,.,. "'.'. _l~ ':~~..' ""'~'" '" "
~. ..". '.'. .... 4 .. , ,... "'.1 .. .. . ',.. .", .
r-" : -..- · ..... · t · " I .
~ .
.....
i,r.. .
, \.'
I . '. ..'... .
. . ~
, .
APPRAISAL OF REAL PROPEflTY
LQCATED AT: '
u.s. '1' HIGHWAY
TRACT A, PORPOISI POINT-SIOTION 6, PB5-120.
81G. COPPITT KEf, FLORIDA
FOR:
LYDIA HOLKIS
AS OF:
,JULY 23, 1990
BY:
RICHARD PADRON, eCI", KSA
Appraisal Co. Of Key West, Inc.
-rOYAL. ~ IOftwatIt by . II mode. inc.. 1 (800) 32MI25
......,......_~~~;~.'Ir~,...,...,..r..".....~.....
N,'~~~"""""~_,,~""8>~~~~~t:'. "..,.~
~~na~~.~~~ ....-........... 11
~.;.....~t>~,.I:l_____
*' t.~D fA "OL~ES ~-!IlSt..ED.:"-3~ Mle "'~ RE lIS 66 H~
.~Mh.' U.S. I1HIQHWAY. __..__._._.__ _ ~
RIG cpP{>ITT K2L_ . ~':lft MQUROit OJaM llQR{D~ I '2JD~ 3~04a _.__.__..
JDttcft)1Ivt 'TRACT A, PORPOIsm POINT-SECTION 6, 1>95...12Q....__..______._.__ ..._____.._.
,.. N/A . . D'lI of S.Ie' 7-90 !,q.rt T,ml H/~ ~, a.nx~__~Uu."hqJd U;;;:tl\.IfL ..
~ ..... E."_ 'Y.... . J ~ ~~ I. IOQ ~ "eft h.... ~ be.DlJd tw ....., , tiLL' 0Itw "'~!llllL-JJN'--t:lQ.W~1
.'IC...... UNKNOWN ' ~. -....1UA-. _____
D~ V^C&t#T ~ANn ~p'Ia./PIJ)RON ~M~MDJJJIt!._~.VALU2
110ft C ~ 8ubuItI.,. lIuIeI Good ~ 'at ~.
v,. 0 0..... "'" (iJ as'7Ro 0 Under as,. '1IUl1o.-,e 8lebIIJ 0 0 0
~ fb.. 0 'utt Dev. Ga Rtpid B s..~.. 0 110" eo"...,. b IM~ 8 (i] 8 a
Illy 1f0lM [iJ ~..~ .... 0 ~ eon..."noe 10 ~ [i]
llll$PIlIr 0 ~ [i) In'__ . 0 0. 4uWt Con~~ .. 8dlooII . 0 ~ 0 0
'... DlIt 0 "'* a .. (iJ .... Mol. 0 0.. Mol. ~ecr 01 NAG Tt"""'bI 0 0 0
u.. ....i5. ,. t ,...., _n " ....,.,.", ==="~" =" COndo -OA" Comftt.,., . A..aUon ',*" Cil 0 0
....a.i ....~ ..4.Q.. VIOl'" =.:;Ji. AMQUIOI ., u.... 0 CiJ B 0
,elll."'''''' I.MoJ Ute GJ Not u.It . LJ u.w 0 TIldnlJ PIa,. "'rtr Comlle~ 0 GJ 0
'ft)4ft -----,....,-- 10__ ~,~ from o.~nlll CoM. 0 Gl 0 0
'*'enI Oocup~ [i) Owntt W T.Nn1 O-S ~ v.... 'cb t Ph ~ 0 [i) 0 0
'amlt Pno. "ana- . _.L5~ Ira . 300.000 Ptedomln.nt v.. . o.netlf ~arlla or rlOpe.. 0 Cil 0 0
. '''''It Ate A"", -HIll. v.... 10 30 Vtt. PttcIomfttftl Aft 7-9 v,.. Appe" to.."... 0 EiJ 0 [J '
lfIIlt ~ ... ,..,.,. ,.,.... 01 Uftft\Iot_. .llectInt ,."..,.., (,.,. ~ ,....1ChlOIt, ~w. IIOIItt: .m,~ SUBrJR~ L9t~~~~=I'
.Il.R.. '1 HIGHWAY AND BOTH JC~-A.AND 1.&Q.81t1D DalYl: IN~aL.P.O~tOlsL fQ'~~_I118D~Vl~IaN o~__._.
i~~ITT KEY. TlfLCITY O~ KEY WEST I.S-Am.U%...6... Mlt~LBAs.r.E.BLL.l\Nn 6"6' CWS2ST CENT&:~ mL__
.PPiti9. SQtlOOLS. EMl'tiBTAIUliitiI MQ ~fi~~OYtmNT t ~~s &1TAQHIQ. ADDENDUM FOR COM~Tfl.
...". 1~~aUL~. .RBR Pl.&'r 11 , · _. L 1 , l ~ Set. A.OI-'cr.. lJc.JCoftwt a.ot
I CleuIlIca"" Sb SJJ~UBIRaH ~Ba~~T1 . _ ".IIt''' 'Illplo~m.n" [i).. 0 do ... __Ill . &ftrlC "..la~
.11 end e.1C u.. "...11I u. [i] ObI' (~, I~PR~D WITH OO~Ji.!BC.lAL..nQlL.lT.~ ____~_
ftublc. 0Iw ~~) / ~, IITIIAP"OYIMINTS Topo HeARLY LBVIL____________
(i) ....tAooMt: [iJ,ubIo G],/he" ,. -L J 2 ~C.BESlJf41a'Z SQUAJlR I'PJRT -__'4__J
GJ ....L~ aClttt.L ..... ItIIIIIt ~LAB- ___ .__
[i) FKAA ~l [i]~ - 'M" \lit" -'llEtJJ\QE/JlI$)ffWAY &.. CANAL __
J.Mt GJ SE~TH~ Trut. c:J 810ml ......, GJ CuNQulW OI'fnIoI AP~WLm...u...ADEQUATR ___.
GJ ~ ... & Tel. II ... ~ Ioailtd ilia HUO IlknllAld ~ Aoo4 HultcJ MI? 0; r:xr;.,
i.nII (ta~.MI 01 unla\OtMII ltdI.o q eppllent w..fII ....m..... ttnnectwNntt 01 ot-.f 'MtN ~lOntJ: ~.$I1R3E~~ LOT r s....J,OCA 1'20 IH___..
· Ala.~ ~L-10 A~C()RI)IN~ TO I'Laon MAPS .12087 C1731 & 1132. ".lQ-l~9, ~O SUR\(f!Y WA!....&DL-_._
ILABL:!. SUB3EC'r tiQ'" J:J6~ MJQ'Way FRONTAGE ..Hll'.H.-CANAL....A~aB.S.aA-...lKl.AQllEQ$~ R~gRMENTS,
OITtONS OR 2NCROACHMENTS NOTED PEBtA.tJJ~~ ~ 'J'HE SUBJECT.... Sa RJR4
· ~ hi. ~ ~ ftClt^'1 ...., 01 ".... mo.. ...., end 1>>0.... to h aubjla anet hi. ~.d ...... 11\ .... ~:...... Tht 4M"r.on lrr*"l . doIaI ."'..~.....
... ...., "tetIon to ... ..,.. 41>>1 ~ vartalon bt~n .. IUbJtd w ~"'t.bIt ~.. " . ~1C8t.1 Mtm In b OIm~.ntbll ~ It "'pt,* W, Of MOt. ,.~,t.It """.
) IUbfed ~ · "*-a. c.; .ctu"tu II ""die, -.Itdudno ... ~16d -. of IUbJed; If . algnbnl ..'" ~ ... OOfn"."tJ.. .. In..tbt to. t(JI ... f..a" hn. N I:IbjM Jf~t .
11 (.) 14u*'*" II "'.. hat hrt~Mg .... ftcIca'H -. of '" eubftd.
~l__:___._
Mrnu. '_3!l,~a.o. "1'
~.. n
......~M..tu...: ALL OP '1'M. COMPARABLRS WRU CONS~[\JCBID--1H THR FINAl. .AHALlS.l.L&LAL.k...BBL.ACB~__
S TMCTS SJMILARLt LOCAT2D ON U.~._l tfrCHWAY'--ml...UQ~~_...ADWUa%MI:NTS WERI!JmBn...EQR..
PARITIIlS It! LOT StIllS. SIlIl TtlJI A",ACHI:Q ADQBHQJlH....1'QR AQD%/fIONNc CQMMRNTS. __~_.__. J
.1ftlI fNJ~.. of ~1Mt ..JU,L COMPARARU!S ARE CLQ.qEQ ~~S~C'tTOlJ.s..~ L6BGB...An.IUafltBtlD..HJ.BI..nOUIB~. _!
: DISPARITISS IN LOT SlZJlS PA$~Q Qtf A CQMPOsrT~ or LOT Slll...&iD....LANn..JlM,1lI.L...H.Qn.JiIU.GHt..._.~,
: (n\l~N 'l'O ~(")N~MU~.Rr.R NO.:J AL..IT W~S THE ~OST RECl:N'{' SnuLAlLS~R .ND. HOST. tND~~.e.:..._._..._ I
:RN't' MARXRT ACTIVI'U'. ~HE 'l'WQ ~EMAllflNO saLES SUtPORT l'l:IE PltlM. V~t.UE:. SEE AQQEtiPVU- _ ~..!
~ THill SALES ~:rsON AP~B.OACH PAnVtf)Rfl 'l'~ Pw..~_.BE.t..t.ABLJL.lJiDrC~T.:tOl:LOLVALtuILAUlL..._._I
: WEI~UT8D 901.IO:J.'( IN TtJWS I'IlfA.~ :\lAU'f: ~N~t~:.iIS. AILALL :tHRu".sALE.a..JiEAE Vl'taL.4Iytr..~ T~ ~HL..I
lJEC'l' ANn PRQVIQ&:D J\. OOOD SA1iIS fQQ ~J:J~. *iU&JEQt yAt.QI. '~'''______. _____. I
MAlE 1HE MARICE1' YMUIl, qll&M!D. OF ~ PAOflaKn AI OF .JCJLY: 2 ~ "-- -_ "-2.0__. lit · ...UQ _. ----.. i
,1Mt(t) ~) ~ A ~ J ........ Awt-- (If~) :..: -- _I
~y PAIGE RI CHARD PADRON, ccrM, MSA DId Noll l'n)oIIc.tr /ntr8Ct !~___..J
'-TOTAL" AppA&iFIJeM~, i'aprrQ~1 tWr ~Wod~IM.. t (tOO) 32U12S
..
8U8JEC1'
HIGHWA);
C 'AlWH.f NO. 1
~fHC5.
D~ON ArDF.NIXJM
Client: Holmes '.
Property Address: Tract A, Porpoise Point:--Section 6
U.S. #1 HighWay ,
City/Ccamty/sta~: Big Q)ppitt I<ey/Monroe/Florida
I.an3er: Unknawn
our File No.: 6!50-90
Date of Inspections 7-24-90
~ D~CI~) Tract A, Porpoise Point, Section 6, a subc1ivlaian as recorded in
the plblio reoords of Monroe camty Flarida, in Plat. Soak 5, at page 120.
NEI~I '1b8 IlUbject i. located in a platted fNb1iv~,.ion of predaninately
waterfront: properties locatEd aboUt eight miles eas~ly of Key Wtwt. '!he area is
about sixty"five percent developed with to:)Stly sirqle-family structures, &ani!
IOObile hanes, ~ttered nulti-family properties, and limited cnl1IMrCial
developnent alorg the highway. '!be general appeararx:e of the nearby subdivision is
above average to good with JOOSt of the banes beirq well kept Md maintained. 'the
sirqle famJ.ly price r~e in the immediate en.. i. fran $75,000 to $300, 000, with a
median of $145,000. 'Ihe noise an:} view factors are greater than average, as the
subject is situated on the OVerseas Highway, the l1Bin thorQ.19hfare .connecting the
keys to the 'mainlani of Florida. '!be subject is also lCC'a'ted in the N1J!Z noise zone
due to mili'tary air .tr8ffic 'fran the nearby Boca 011ca Naval Air station. 'Ibis
does not seem to be a detriment or effect the marketability of the properties in tlle
area. 'lbearea ~ been rapidly davelcp1.rq with n~ construction CXX1Stantly beinCJ
l11ilt in the area. '!he subject. site is located in the lower kays, close to many
recreational an:! tourist attractions. Major shoppirq amters, churcllE's,
recreational parks are located seven miles westerly in the City of Key West ard
bJssirg is provided to the various schools.
D~PrION QF ~ SITE; '!be subject is an in-etJUlarly shaped lot tacin:J u.s.
#1 Highway, the OVerseas HighwaY, and lcx:ated bebJeen TamarW am mt't8rald Dr! ve.
'!he site contains 48,187 &qJJar8 feet or 1.12 acres of lald area wit'll 254 fEtet of
highway fraltage ard 128 feet of canal frontage. ,'lb. site is 75' cleared baitg
predaninately limlstone and marl and the remairder of the site i1avillg natural growtl~
of Florida holly, marqrove an:} other native species. 'lb. site is situated at the
em of a canal havJn.J limited tronta<)eon two sides ardprovid.1n; good boat &CXtaSS to
the open water. utilities are available, as there is both water an:! electric on
the highWay. 'Ibe site 1s zoned sub.1rban OCIltlDIIrCial ani will permit sane type af
carmeroial developnent as permittibJ aM approvals will alloW'.
Sl,r M cn.tPARI~ ANALYSISt A thorough search of tlle marl'.at was made t.o locate sales
of catprable properties havin;J similar sites ard highway location within the
i.D1nediate area. All three carparables were lcx:atec1 on u.S. #1 ~ighway in the sa,.,-e
vicinity of Big Coppitt J<ey havirq the same 2oniJ'l(J am ao::ess to utilities. '1\-10
sales were larger sites ani one sale a much smaller sit.a t11al1 the subject; all
rEq1ir~ adjus'bnents for disparities in square footage of . lot area an:i m..inor
differences in location. Canparable No.1' had limited canal frontage ard
carparable No. 2 was located on the other side of the highway with ao::ess to a ~.ery
shallCM bay" not deep canal frontage like the subject, rot with similar o.AkliierCial
highway frontage. . '!besewera them:>>st similar available sales of carparablessites
within the subject neighborhood and all provided a reasonableralYile of values. All
three catparables were weighted, however I JOOSt weight was given to Calparable No.~.
as it was the ~t similar recent sale ard best represented the current sales
-activity of this area. All three cxmparables <X)ntriblted to the final value
Wication. '1be ran:Je of valll. varied greatly a this highway frontage property
appears to be apprecJiatin;J at an accelerated rate due to the ~<<nIN1t of CXJltIIOOrcial
bJs1ne~ .into the 8ig Cq:pitt area.
FINAL ~~QtI: '!he greatest weight: is given to that approach in which 'the
aRraiser has the highest degree of confidence, ara j.nplies a mininum of assunptions
am sufficient. quantity of data. 'lbe Market Data Awroach provided the nost
aocurate data because it reflects the action of BllYers and Sellers in the market an.1
was the sole nethod of valuati.n;J the subject property.
FINAL RPX:ONCILIATION~ '!he greatest weight is given to that approach in which tile
J\DDF.NDt.H PAGE 1
. awraiser has the highestdagree of <Xinfi~, aM ittpl!es a miniDun of assunptioJW
an;! suffi~clent qual)tity of data. '!he Market Data Approach provided the m:)6t
acx:urate data because it reflects the action of Buya~s ard Sellers in the market and
was the sole I8thod of valuat!njJ the subject prq:erty.
AWEHUf PAGE 2