Laserfiche WebLink
Mr. John Murdock <br />May 18, 1996 <br />Page 2 <br /> <br /> Comparable rent and expense data was collected and analyzed for an indication of <br />the value of the subject property based on that technique. The data collected and analyzed <br />indicated a net annual rental of $6.50 per square foot of office area and $3.00 per square <br />foot of warehouse area. Based on this rental data the total net annual income attributable <br />to the property is calculated as shown: <br /> <br />Office area 6,617 SF X $6.50 PSF = $43,010. <br />Warehouse 2,904SF X $3.00PSF = $ 8,712. <br />Total $ 51,722. <br /> <br /> An overall rate was developed utilizing data obtained from market transactions, <br />Although rates have varied up and down since May 1993 it is my opinion that at this time <br />an overall rate for the subject property is 8 per cent. <br /> <br />Value indication: <br />Income/rate = Value <br />Rounded to $650,000. <br /> <br />$51,722 / .08 -- $646,525. <br /> <br /> Thank you for the opportunity to complete this assignment for you. Please do not <br />hesitate to call me if you want to discuss the value reported or any part of the information <br />collected in support thereof. <br /> <br />Sinqe¢ly, /~ <br /> <br />Robert L. Byrd, Jr. <br />State Certified General <br />Real Estate Appraiser A-5 <br /> <br />PII:DUO~T R~AL ~.~TATL: 9gl~Vtl2g.q, <br /> <br /> <br />