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EXECUTIVE SUMMARY <br /> Property Type: A commercial property. <br /> Report Type: Appraisal <br /> Intended Use: The intended use is to help the client establish a fair purchase price for <br /> the subject property. <br /> Intended User: The City of Sunny Isles Beach <br /> Property Description: <br /> Location: 18080 Collins Avenue, <br /> Sunny Isles Beach,Florida 33160 <br /> Site Area SF: 44,743 square feet or 1.0272 acres(Public Records) <br /> Folio Number: 31-2211-082-0010 and 0020 <br /> Flood Zone: AE <br /> Census Tract: 1.23 <br /> Zoning: B-1/BD a Neighborhood Business District by the <br /> City of Sunny Isles Beach, Florida. The district <br /> includes a business overlay. <br /> Date of Value: February 4, 2015 <br /> Date of Report: February 5, 2015 <br /> Property Rights Appraised: Fee Simple Estate <br /> Highest&Best Use: Future mixed use development in accordance with the zoning code <br /> and Sunny Isles Beach LDR. <br /> Marketing/Exposure Time: Within 12 months <br /> VALUE INDICATIONS <br /> KET VALUE <br /> "As Is"Condition <br /> Sales Comparison Approach: $9,800,000 <br /> Final Market Value $9,800,000 <br />