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<br />These tests have been applied to the subject propet1y. In arriving at the estimate of Highest and Best <br />Use, the subject site was analyzed as vacant and available for development. <br /> <br />Possible Use <br /> <br />The subject site has 185 feet, more or less, of frontage on Sunny Isles Boulevard and 175 feet, more <br />or less, of frontage along Collins A venue. Therefore, the subject properiy has good exposure and <br />access on two primary streets. <br /> <br />The subject site is irregular in shape, but has adequate functional utility. All necessary utility <br />services are available along existing street right-of-ways. The site is filled to street grade and does <br />not appear to have any drainage or subsoil deficiencies. <br /> <br />The subject site contains 31,113 square feet which equates to 0.714 acres. The size of the subject site <br />would limit its use to small to moderate scale development. <br /> <br />Permissible Use <br /> <br />Permissible or legal uses are those uses which are permitted by zoning or deed restrictions. There <br />are presently no known private deed restrictions of record. <br /> <br />The site is zoned for mixed use. The zoning of the site permits multifamily apar1ments, hotels and <br />motels, commercial services and retail goods (including spas and health clubs, beauty salons, <br />clothing, florists, gift shops, banking services, pharmacy, newsstands, and restaurants), conferencing <br />facilities and meeting rooms, offices, business, medical and professional, public and private <br />educational facilities, parking lots and garages, public parks and recreation facilities, and government <br />uses. <br /> <br />Feasible Use/Maximallv Productive Use <br /> <br />The physical characteristics and zoning of the subject property permit a wide range of potential uses. <br />The possible and pern1issible uses include multi-family residential buildings, hotels, and various <br />commercial/retails uses. <br /> <br />Surrounding sites are improved with rental and condominium apartment buildings. A building on <br />the subject site would have views across the Intracoastal Waterway to the southwest. <br /> <br />QUINLIVAN APPRAISAL <br /> <br />27 <br />