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<br />.......' ...."....... ....u..,~ .l'l\.A olUl1DDiJ'tI1~.1 <br /> <br />QUINLIVAN APPRAISAL <br />A PBOFESSroNAL AsSOCIATION <br />REAL ESTATE: APPRAISERS & CONSULTANTS <br />15730 S.W. 74TH 571UllET, SurrE 800 <br />SOUTH MIAMJ., FLoRInA 33143 <br /> <br />~002 <br /> <br />{welve/to ,., <br />A ~e...tQ. f-dc:./(e-l- <br />~s <br /> <br />J. MAml: QUINLIVAN, MAl <br />SrA'l'B"'CBJiTlPl:BD QEIQJtAL APPBAlSJlB& <br />HZ OOOOU2 <br /> <br />TELEPHONE (305) 683"6611 <br />FAX (305) 665-4921 <br /> <br />THOMAS F. MAGBNHEDtEB, MAl <br />SuTE-CBBTD"IBD GBI!fBBA.L APP:B.ullBllS <br />HZ 00005lSD <br /> <br />October 10, 2006 <br /> <br />Joho 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 sunnnary of <br />our appraisals is 1I/1 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 Area <br /> <br />Estimated Value <br />Per S.F. of Proposed <br />Buildinlz Area <br /> <br />~'" ~alW\ 15795 Collins AVI:. <br />eo.~ R.psa.+ 17475 Collins AVI:, + <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 Sunny Isles Beach, closer <br />to shopping and n:staurants and; therefore, would tend to sell at a higher unit 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 (lata of the 17475 Collins <br />Avenue site was not available. If this data was available, the value ofthe 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 />