Michael Wolff Real Estate Appraisal Services
Appraisal Projects
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Proposed Subdivision |Prescott region |94 vacant lot sales |Graphical analysis, residual developed |4½ acres  vacant land to be subdivided |Market |19 lots $39,000 to $43,000 each; total $784,000 |Estimate market value of proposed lots as completed |Commercial lender

Nursing Home property |Cottonwood region |23 vacant 12 improved |Graphical analysis, residual developed |Fee simple, real estate only |Market and cost |final $285,000 vacant value range $90-$111,000 |Estimate market value, as is |Commercial lender

Commercial/ Industrial bldg |Flagstaff |33 vacant 25 improved |Current use: grade school. Regression analysis |Fee simple |Cost, market, income|Land: $$229,000 to $262,000. Final: $660,000 |Estimate market value, as is |Commercial lender

Vacant 6.0 ac & 97.5 ac |Chino Valley region |small: 43 vac large: 19 vac |Graphical analysis |Fee simple vacant |Market |6 ac: $36,000 97.5 ac: $390,000 |Estimate market value, as is |Labor union

Converted Residences |Ash Fork area |13 comparables in Ashfork + 5 in Seligman |Value ranges developed; 2 old houses converted to business use + stg bldg + vac lot |Fee simple; high & best use = residential or commercial |Market and cost |final = $48,000; as vacant:$12-$15,000 |Estimate market value, as is |Private party

4.5 Acres Vacant Commercial Land |Prescott, northern area. |34 vacant 12 improved |Improvement residual developed |Fee simple, 2 lots separately & both together as 1 lot, vac & improved |Market and cost |Lot 1:$543,000 Lot 2: $916,000 Both together: $1,257,000 |Estimate market value, as is, as per completion |Commercial lender

Vacant Commercial Lot |Ash Fork region |17 improved & vacant |Vacant residual value developed |Fee simple vacant |Market |$21,000 |Local citizen’s group

23 Residential Lots + 61 acres vacant land + estd marketing time |Central Yavapai County  |210 vacant lot sales; 30 vacant land sales |Sale price/acre; time adjustment; trend analysis; raw land vs platted land |Fee simple |Market |$58-$110,000 per lot, total = $1,512,000. Raw land = $790,000. Platting adds $50-$100,000.  |Estimate market value, market time, and absorption |Local bank

Office Retail Building |Prescott Valley |7 improved 12 vacant |Graphical  analysis of sales trends |Existing and proposed building on 2 lots |Market and cost |$230,000 as proposed; as vacant land $54-57,000|Est market value as proposed |Commercial lender

Residential Subdivision |Verde Valley |51 vacant mkt + 59 lot residuals + listings Plat- ting: 2 comp sales + cost app |Local economic analysis, comp sale, trend analysis. Ph 2 lots 20 sfr & 20 tnhse. Absorption 2 lots per month each |Fee simple vacant land as raw land, raw land w/pltng, & individual improved lots |Market and cost |lots: $857,000 bulk sale: $562,000 Raw land: Ph2 $131,000w/pltng: $185,000, Ph3 $106,000 & $143,000 |Est market value  of improved lots, raw land, land w/platting, and  Absorption |Commercial lender

Mobile Home Park |Verde Valley |4 improved 30 vacant |Rents, expenses, cap rate estimation part of project |Land + 7 older single wide & 1 older double wide mobiles |Cost, market, income|$149,000 final Market; $135,000 Inc: $141-177,000 Cost: not useful |Estimate market value |Commercial lender

485 Acres Platted Ranch Land |Mayer region |27 vacant plus listings |Ignore platting appraise as acreage |Fee simple range land |Market for land Cost for house |$1,240,000 marketing time estimated at 30 to 37 months |Estimate market value  & marketing time for note purchase|Commercial lender

Whit Spar Road Commercial Building |Prescott area |28 vacant 16 improved |Metal bldg, several potential uses, graphical analysis |Fee simple |Cost, market, income |Cost$128-141,000; Mkt $140-162,000; Inc $89-127,000; final = $145,000 |Estimate market value for a loan |Commercial lender

Supplement to old Town Hall/Library Site |Central Yavapai County  |46 vac multi-family; 26 vac commercial; 35 improved commercial   |8 lots assumed multi-family, all vac; 4 assumed commercial, 2 vac & 2 improved|Fee simple subject divided into hypothetical 12 parcels |Cost, market, income |final = $555,000 consisting of 12 lots added together|Est market value for hypothetical situation, subject broken into 12 lots (10 vac & 2 improved) |City or Town

Old Town Hall/Library Site |Central Yavapai County  |37 vacant 14 listings |Statistical analysis sales & rents, no hazards assumed; sewer asmnt analysis |Fee simple; h & b analysis; income app = $0; extensive h & b analysis |Cost, Income |vacant = $185,000 final = $435,000|Estimate market value for sale or trade as one piece & not split into pieces |City or Town

2 Small Strips of Land |Prescott |24 vacant lot comparables |Contribution value excluded |Fee simple; as is and as a useful part of a whole |Market & definition of value |as is = nominal; hypothetical = $11,000 |Hypothetical value /def. of value; value as uniform part of a whole property |Private party

Elementary School |Prescott Valley region |30 vacant 14 listings |Modular bldgs not included; no environmental hazards assumed|Assumed fee simple; extensive h & b analysis |Cost, Income |vacant = $860,000 final = $1,600,000 |Estimate market value for sale or trade |School District

Bus Repair Facility |Prescott Valley region |37 vacant 27 improved |No environmental hazards assumed; Statistical analysis |Assumed fee simple |Cost, market, income |vacant = $99,000; final = $170,000 |Estimate market value for sale or trade |School District