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i � �� � �, <br /> IThe current lease has 31 quarters remaining. The present I, <br /> � value factor for an income stream received over 31 quar�ers <br /> , and discount of llo is 20. 68. Applying this to net income: �I <br /> � <br /> $600 x 20. 68 = $12, 400 II <br /> I <br /> II <br /> �; <br /> At the end of the remaini_ng 31 quarters or 7. 86 years, the � <br /> ( property reverts back to the owner. Therefore , it is � <br /> necessary to estimate the value of the property at the end <br /> of this term and discounting this back to a present value. i� <br /> This was done by first making a survey oF current sales in <br /> the market and then discounting this estimated value back at <br /> the rate of ].1$ . T'he following sales were considered <br /> pertinent. ' <br /> , i <br /> I� ' <br /> �� <br /> COMPARABLE LAND SALE #1 <br /> I Address: 500 Southland Drive <br /> Sale Date: November 1984 Price: 550, 594. 48 <br /> Brief Legal: Part W 1/2 of N 1/2 of SE 1/4 of 22-16-2 <br /> � <br /> � Grantor: Fletcher & Co. Grantee: South Sh :res ;' <br /> � Nat ' 1 B �nk ' <br /> �� Book: 2163 Page: 56 <br /> �� Z��ning: B-2, Commercial <br /> I �� <br /> Dimensions: 150 ' frontage x 350 ' x 350 ' x 450' or 94, ;00 SF � <br /> jl or 2. 17 acres �' <br /> ;; Price Per SF: $. 54 Price Per Acre: :�23, 315 <br /> " Comments: Irregular shaped rolling tract located adjacent <br /> and west of South Shores Bank on the south side of <br /> � <br /> Southland Drive. <br /> � i, <br /> i <br /> i� � <br /> �Ij <br /> �� <br /> i <br /> ii 11 <br /> I, <br /> R7THFUSS - Nl!G ArP{tA1SE�?`_� <br />