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� � <br /> Koester Drive - Sold for $210, 000 in December 1995, and is <br /> a 1.37 acre vacant land parcel. This reflects a per acre <br /> cost of $153,285, or $3 .52 per S.F. <br /> COMPARABi,g I,AND SAI,E #10 <br /> 2745 N. Water Street - Reported sold for $70, 000 in April <br /> 1994, and is a 14, 400 S.F. site with M-1 zoning on a busy <br /> arterial street. This reflects a per S.F. land cost of <br /> $4.86. <br /> COMPARABLE LAND SAI,E #11 <br /> 1848 N. Oakland Street - An 18, 000 S.F. B-1 zoned site <br /> sold for $35,000 in July 1996. It is on a busy arterial 4 <br /> lane street. This reflects a per S.F. land cost of $1.95 <br /> (rounded) . <br /> SUrIlKARY OF COMPARABLE LAND SALES . <br />� Sale Date Zoning Corner�r� S.F. S°Ft Per • <br />� 1 1/93 M-1 Corner 210, 127 $1.83 � <br /> 2 ��92 B-3 Interior 225, 640 $1.91 <br /> 3 2�92 M-2 Interior 65, 132 $1.25 ' <br /> 4 3/92 B-3 Corner 51,563 $6.30 <br /> 5 4�92 B-1 Interior 13,811 $4. 34 ' <br /> 6 12�91 B-2 Corner � � <br /> 8, 359 $4. 05 <br /> � 2�95 0-1 Corner 49,976 $3 .50 ,� <br /> $ 8�95 B-1 Interior 87, 120 3.50 : <br />, 9 5/95 Cp $ . <br /> 10 12/95 Com. Corridor 114,563 $2 .5g <br /> 59, 677 $3 .52 � <br /> 11 4/94 M-1 Corridor 70, 000 $4.86 �, <br /> 12 ��96 B-1 Corridor 18, 000 $1.95 ,� <br /> Since subject is an unusually narrow tract of land that " <br /> will be added to an existing complex site that is already f <br /> partiallx improved with a commercial multi story buildings � <br /> I will discount the full estimated land value of $4.00 by ' <br /> 50�, or 2.00 rounded. This results in a final estimated ' <br /> (discoun ed) value � $7, 680 for the land tract under <br /> study. Extimated value must be further discounted (25� ' <br /> to reflect the presence of the u sanitary sewer ine ' <br /> under the alley tract. <br /> $7, 680 , <br /> x 25� Discount factor <br /> $1,920 To be subtracted or � <br /> $5, 760 (final value estimate) •. <br /> RECONCILIATION AND FINAL VALUL ESTIMATB � <br /> I have developed the Three Approaches to Value as follows: � <br /> Page 9 <br /> : <br />