Michael Wolff Real Estate Appraisal Services
Appraisal Projects
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Retail/Com-mercial Multi-Story Building |Downtown Prescott |12 improved 13 vacant |Statistical analysis sales & rents, no hazards assumed |Fee simple and rental analysis, improvements and land |Cost, market, income |bldg & land: $870,000; rents: $124,000 per year |Market value and most probable rents |Local bank

Condemnation for Low Water Crossing |west of Prescott |0 market, 48 government|Negotiation tool for acquisition |Drainage & temporary easements thru fee simple |Market |part taken: $1 damages: $0 benefits: $0 |Just compensation, damages & benefits |Local County

3.81 Ac Vacant Commercial |Cornville region |38 vacant |Verify collateral for possible loan assumption |Fee simple, vacant with fence walls |Market |$76,000 |Market value |Commercial lender

EZ St. Industrial Property |Prescott area |15 vacant 12 improved 22 rents |2 vac lots, 1 improved, statistical analysis, curb- inspection only |Fee simple and rental analysis |Cost market |bldg & lots: $454,000 rents: $3,150 per month |Market value and most probable rents |Commercial lender

Industrial Bldg., 6th Street |Cottonwood region |40 vacant 12 improved 14 rents |Very old bldg., no environmental hazards assumed|Fee simple, bldg. & land rental analysis |Cost Market Income |bldg & land: $258,000 rents: $30,400/yr |Market value and most probable rents |Local County

Industrial Bldg., 6th Street |Cottonwood region |18 vac sales 17 vac listings 6 improved 11 rents |Very old bldg., no environmental hazards assumed |Fee simple |Cost Market Income |land: $175,000 cost: $346,000 market: $286,000 income: $207,000 final est: $290,000 |Market value |Local County

23 Subdivision Lot + 61 Acres Platted |South of Prescott Valley |210 vacant lots, 30 acreage sales |Marketing time, absorption rate, trend analysis |Developed vac lots + undev. Platted acreage  |Market, listings |Lots: $1,512,000 acreage: $840-890,000 platted |Market value and marketing time |Local bank

Commercial Sheldon St. |Prescott|37 vacant |No environmental hazards assumed |Commercial bldg assumed vacant |Market |$180,000 land only |Market value as vacant |Private party

Lot 2709, Unit 8, |Prescott Valley |27 single family, 47 multi |H & b use analysis, lot has 2 high uses |Vacant extra lg lot with significant floodplain impact |Market |as single family: $12,500, as multi: $13,000 |Market value |Local City or Town

Café/Restaurant|Skull Valley area |13 vacant 10 improved |Property owner not to know appraisal was being made |Commercial land and bldg with mobile home |Market, inc & exp ests |$65,000 land and bldgs; estd inc = $74,000, exps = $49,000 |Land & bldgs, café income & exps |Commercial lender

Flood Damage Report |Skull Valley |none |Fencing, crop land, dam, trees, road, soil, & grazing losses|Vacant ranch  land, fee simple |Cost |$25,035 total estimated damages |Estimate cost impact of flooding |Private party

22 Unit Residential Apartment Complex |Bullhead City area |16 vac land, 8 improved, 7 listings, 8 cap rate |Appraisal needed for financing purposes |Fee simple, improved multi-family |Cost, market, & income |cost:$474,000 market: $550,000 income: 645,000 final est:$580,000|Estimate market value |Commercial lender

Bar/Lounge |Prescott |8 vac; unique location, no market sales |Income app not used per customer request |Fee simple, improved |Cost |final improved = $125,000; vac = $45,000 |Estimate market value |Commercial lender

Commercial/Industrial Bldg |Cottonwood area |19 vacant 9 improved |Income app not used per customer request |Fee simple, improved |Cost & market |vacant: $78,000 final improved = $180,000 |Estimate market value |Commercial lender

Small Office Bldg |Flagstaff area |vacant abstracted, 8 improved |Older residential bldgs converted to office uses |Fee simple, improved |Cost & market |vacant: $45,000 final improved = $120,000 |Estimate market value |Commercial lender

Residential 4-Plex |Prescott Valley |vacant 50 11 improved |Drive-by, typical PV 4 plex |Fee simple, improved |Cost & market |vac = $6,000 final = $82,000 |Estimate market value |Commercial lender

6 Vacant Residential Lots |Prescott Valley |80 vacant, listings not useful |Frequency, time trend, zoning, floodplain analysis |Fee simple vacant |Market |total = $3,500; ranging from $250 to $1,000 each |Estimate market value |Local City or Town

Vacant Lot, Update |Prescott Valley |46 vacant |Condemnation, court preparation, extensive statistical analysis |Fee simple vacant |Market |$3,500 vacant |Estimate market value |Local City or Town

Vacant Acreage |Williamson Valley |43 vacant |Road widening dispute with property owners |Fee simple vacant, 80 acres & 74 acres |Market |$4,000 per acre |Estimate market value per acre |Local County

Lot With Flood Damage |Prescott Country Club |5 listings, 15 comparables |Dispute between property owner & County, improvements destroyed |Fee simple, as vacant but impacted by damaged improvements |Market |before = $6,000 after = -$1,500 (after = negative) |Estimate market value, before & after flooding |Private party

Iron Springs Rd. Partial Taking |Prescott |10 listings, 16 vacant sales |Condemnation, road widening dispute resolution with prop owners |Part take for road widening |Market |total: $12,200; ranging from $1,500 to $3,000 each |Just compensation, damages & benefits |Local County

“Parcel 4” Near Prescott Airport |Prescott |70 comparable sales, 23 listings |Condemnation, airport expansion caused change in direction of wash, regression & statistical analysis |Flood easement (apx. 31 acres) through fee simple (apx. 69 acres) |Market |vacant = $20,500 just comparable = $17,000, damages = $0, benefits = $0 |Just compensation, damages & benefits |Local City or Town, through subcontractor