Michael Wolff Real Estate Appraisal Services
Appraisal Projects
Page 5

“Parcel 4” Near Prescott Airport Update |Prescott |63 of similar character in the region |Condemnation, airport expansion caused change in direction of wash, regression & statistical analysis |Vacant land, fee simple and proposed easements |Market |vacant = $38,500 proposed easement impacts = $37,600; net value after = $900 |Market value as impacted by proposed flowage easement |Local City or Town, through subcontractor

“Parcel 7” Near Prescott Airport |Prescott |70 comparable sales, 23 listings |Condemnation, airport expansion caused change in direction of wash, regression & statistical analysis |Flood easement (apx. 37 acres) through fee simple (large ranch, many  acres) |Market |vacant = $40,500 proposed easement impacts = $36,500; net value after = $4,000 |Market value as impacted by proposed flowage easement |Local City or Town, through subcontractor

Vacant Commercial Land |Prescott |71 comparable sales|Regression & statistical analysis |Fee simple; 3 parcels |Market |4.1 ac = $103,000 8.8 ac = $158,000 9.0 ac = $162,000 |Market value |Private party

Fair Rental Value, Commercial Bldg |Prescott |21 comparable rents |Dispute resolution |Lease/tenant, 4,944 sq ft |$.40/sf or apx. $2,000 per month |Market rent |Local County

Vacant Tract , Unit 8, Prescott Valley |Prescott Valley |72 multi-family 35 single family comparable sales |Condemnation, rights-of-way needed for creation of Lakeshore Drive; splits property into 2 pieces |Fee simple, vacant land; before (apx. 5 ac)  & after (1.6 ac & .6 ac) taking |Market |whole: $50,000; remainders: nth = $22,500 sth = $12,000; taking = $15,500; damages = $0, benefits =$0 |Est whole, part taken, remainder, damages, & benefits |Local City or Town

Vacant Lot, Unit 19, vacant, update |Prescott Valley |32 vacant comparable sales |Frequency distribution|Fee simple |Market |$10,000 |Estimate market value |Local City or Town

El Camino Real Vacant Lots |Prescott Valley, Unit 19 |73 multi-family 41 single family |Condemnation, analysis included: floodplain impact, time, lot size, assessments |36 vac lots , fee simple, full takings road widening |Market |$183,100 total, ranging from $100 to $13,500 each |Estimate market value |Local City or Town

Navajo Drive Vacant Lots |Prescott Valley, Unit 20 |57 comparable sales |Condemnation, analysis included: floodplain impact, time, lot size, assessments |54 vac lots , fee simple, full takings road widening |Market |$81,700 total, ranging from $100 to $6,000 each |Estimate market value |Local City or Town

Subdivision Lots 37 & 39 |Prescott |19 comparable sales |Significant slope, needed for taxes|Fee simple vacant |Market |$33,000 and $8,000 |Estimate market value |Private party

El Camino Real Vacant Lots Update of 7 Lots |Prescott Valley, Unit 19 |46 multi-family comparable sales |Condemnation, analysis included: Time, frequency distribution, terms of sale, zoning|Fee simple vacant |Market |$75,000 total, ranging from $5,000 to $14,000 each |Estimate market value |Local City or Town

Prescott Valley Commercial Database |Prescott Valley |22 comparable sales, 84 listings |Graphical analysis |Commercially zoned properties |Na|data only, no concluding values |Create database of sales & listings |Local City or Town

Vacant Parcel Report |Prescott |24 comparable sales |Hypothetical situation: as is & as if buildable |Fee simple vacant |Market |as is = nominal; hypothetical = $11,000 |Est value of 2 very small pieces |Private party

Residential Appraisals |Northern Arizona |numerous |Hundreds of form reports |Fee simple|Cost & market |various |Estimate market value |Various

Commercial Building |Yarnell |9 comparable sales |Income approach excluded per customer |Fee simple, as improved |Cost & market |land = $6,500, cost app = $35,000 final = $65,000 |Estimate market value|Commercial lender

Easements through 2 Commercial Properties |Prescott Valley |47 comparable sales for whole, 3 for easement impact|Condemnation, regression & statistical analysis, court preparation |Sewer pipeline and temp construction easements through fee simple |Market |whole = $155,000 each; easement impact $2,100 |Est whole, taking, remainder, damages, benefits, just compensation|Local City or Town

Part Takings for Traffic Lights |Prescott Valley |55 residential 41 commercial |Condemnation, 4 corner takings consisting of 14 separate pieces |Partial taking of fee simple |Market |total whole = $454,150; total impact = $11,159 |Est impact of takings |Local City or Town

Commercial Building |Lake Montezuma |6 vacant 9 improved |Few comparables in area |Fee simple, as improved|Cost market |as vacant: $36,000 cost: $130,000 final est: $90,000 |Estimate market value |Commercial lender

Commercial/Residential Property |Jerome |6 vacant 6 improved |Unique tourist town, demand higher than cost |Fee simple, as improved |Cost market |as vacant: $17,000 cost: $66,000 final est: $95,000 |Estimate market value |Commercial lender

167 Acres Update |Chino Valley region |115 comparable sales |Previous report updated apx 1 yr later after the property sold |Fee simple vacant |Market |167 ac: $762,000 42 ac: $188,000 21 no well: $94,000 21 well: $104,000 |Estimate market value of pieces that actually sold |Private party

167 Acres |Chino Valley region|63 comparable sales |Regression & statistical analysis |Fee simple vacant |Market |167 ac: $425,000 30 no well:$117,000 30 well:$147,000 40 no well:$136,000 40 well:$176,000 |Estimate market value, total & for 30 & 40 acre pieces |Private party

Whipple St. Partial Taking |Prescott |22 comparable sales 9 listings |Strip of land needed for road widening |Fee simple, partial taking |Market |just cmp: $132,800 damages $0 benefits $0 |Estimate just compensation |Local City or Town