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<br />10/10/06 10:54 FAX 3056654921 <br /> <br />QUINLIVAN APPRAISAL <br />A PROFBSSIONAL AsSOCIATION <br />R.&u. ESTATE ,ApPRAISERS & CONSULTANTS <br />5730 S,W, 74TH STREET. SWTB 300 <br />SOUTH M:tAMI, FLORIDA 33143 <br /> <br />~002 <br /> <br />{lAJcfvJ~ ''^ <br />A ~e.,'pQ. l~c./('eJ. <br />~s <br /> <br />J. MAm< QmNLIVAN, MAl <br />SuTB-CUrn>1BD GENBllAL APP:lt&I!IJlU <br />HZ 0000112 <br /> <br />TELEPHONE (305) 663a66U <br />FAX (305) 665-4921 <br /> <br />THoMAS F. MAoENHHIMBB, MAl <br />~TB-CBRTIl"IBD GBNBllAL APPlLU8BB.1!I <br />HZ OOOO~~B <br /> <br />October 10, 2006 <br /> <br />John Szerlag, City Manager <br />City of Sunny Isle!! Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br /> <br />RE: 15795 Collins Avenue <br />17475 Collins Avenue <br /> <br />Dear Mr, Szerlag <br /> <br />We recently completed appraisal reports of the two above referenced land parcels. A summary of <br />our appraisals is llll follows: <br /> <br />Address <br /> <br />Land Size <br /> <br />Date of <br />Value Estimate <br /> <br />Estimate Value <br />PerS.F, of <br />Land Are!! <br /> <br />Estimated Value <br />Per S,F. of Proposed <br />BuildinlZ Area <br /> <br />0<.~e,,,,1'C1\\Y\ 15795 Collins Ave:, <br />O({'OJ'\(~.s#- 17475 Collins AVl:,+ <br /> <br />The sites are very similar in lot width, land size and zoning. The 17475 Collins Avenue may be <br />perceived as better in location, being more centrally located in the City of S lJIlIlY Isles Beach, closer <br />to shopping and restaurants and; therefore, would tend to sell at a higher uoit price, <br /> <br />38,725 SF <br />45,389 SF <br /> <br />6/20/06 <br />8/14/06 <br /> <br />$425,00. <br />$500,00 <br /> <br />$115,00 <br />$135.00 <br /> <br />When we appraised the 15795 Collins Avenue site in June of2006, the sales data of the 17475 Collins <br />Avenue site was not available, If this data was available, the value of the 15795 Collins Avenue site <br />may have been slightly higher, <br /> <br />The difference between the unit prices of each appraisal is due to the date of valuation and the <br />location of the properties, <br />