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CABARRUS COUNTY 2012 APPRAISAL MANUAL <br />CABARRUS COUNTY NON - RESIDENTIAL LAND VALUE SCHEDULE <br />BY COUNTY WIDE <br />Acreage <br />Acreage <br />Square <br />Square <br />Front <br />Front <br />Leases <br />Leases <br />Price <br />Price <br />Foot <br />Foot <br />Foot <br />Foot <br />Price <br />Price <br />Price <br />Price <br />Low <br />$25,000.00 <br />High <br />$500,000.00 <br />Low <br />$1.00 <br />High <br />$30.00 <br />Low <br />$50.00 <br />High <br />$7,000.00 <br />Low <br />High <br />$400.00 /sf <br />Commercial/ <br />$2.00 /sf <br />Office/ <br />Research <br />Industrial <br />$15,000.00 <br />$300,000.00 <br />$1.00 <br />$20.00 <br />$50.00 <br />$5,000.00 <br />$0.50 /sf <br />$100.00 /sf <br />Multi - Family <br />$10,000.00 <br />$75,000.00 <br />N/A <br />N/A <br />$50.00 <br />$1,000.00 <br />$50 /UT <br />$2,500 /UT <br />(A) - Income -- Market CAP Rates range from a Low of <br />5% to a High of 15% <br />(B) - Lease Rates for Industrial Buildings Vary Depending on how much Office Area is Available. <br />(C) - Lease Rates for Multi - Family Vary Depending on Location, Quality, & Number of Bedrooms <br />(D) - Lease Rates for Condominiums are similar to Multi - Family Except for the Speedway Condos which lease <br />weekly during major events <br />BASE SFR ACREAGE LAND: Rural Land of 20 to 25 acre tracts with 10% Road Frontage located on a Paved <br />Road with No Public Water or Public Sewer and all other Higher Density Zoning Or Different Land Uses will be <br />adjusted for location, topography, or other factors to meet Market Value as of January 1, 2008. <br />BASE SFR LOT VALUE: Single Family Residential lot with Well & Septic Tank and If Public Utilities are available <br />adjustments will be made for location, topography or other factors to arrive at Market Value of January 1, 2008 <br />These Base Prices and Non- Residential lots and acreage will be adjusted for location, topography or other <br />factors to meet Market Value as of January 1, 2008. In appraising the Rural Land, the timber value is not included <br />in determining Market Value for each individual tract of land. <br />CABARRUS COUNTY - 2012 LAND APPRAISAL PROCEDURES 4-58 <br />8/9/11 <br />Attachment number 6 <br />G -3 Page 351 <br />