HomeMy WebLinkAboutM-85-0389W.
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CITY Off' MIAMI. FLOIi1CA
INTEROFFICE MEMORANDUM
To: Sergio Pereira DATE: April 3, 1985 RILL:
City Manager
SUsJECT: Bayfront Park Library
Building
RROM: I� - I .. REFERENCES:
Walter L. Pierce •- •�
Assistant City Manager ENCLOSURES:
The attached memoranda were sent on March 26, 1985 to Vice Mayor
Joe Carollo at his request. Vice Mayor Carollo then introduced
this subject as a non-scheduled item during the City Commission
Meeting of March 28th, the Administration was then requested to
schedule this matter as a discussion item for the April 11th City
Commission Meeting.
Accordingly, attached are copies of the two (2) memoranda for
inclusion in the agenda package for April 11, 1985. Please note
that while both memoranda remain unchanged, the summary of lease
space attached to the memorandum entitled "Space Leased by the
City of Miami" has been corrected to show a more accurate total
annual rental payment of $838,057.00.
M- 85-389:.
�I
t:
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM
To. Honorable Joe Carollo DATE: March 26, 1985 FILE
# Vice Mayor
SUBJfC:T Space Leased by the
City of Miami
Walter L. Pierce
Assistant City Manager nEFC11ENCES.
F.NCLOSURrS one (i i
This is in response to your inquiry of March 25, 1985 regarding
the cost and amount of space leased by the City.
Attached is a listing of leased space by department,
Ian lord/location, square footage, lease term, rental cost per
square foot and the annual lease payment. The total amount of
space leased by and for the listed departments is 47,620 square
feet at a cost of $640,755 for Calendar Year 1985. In addition
to those departments listed, the Downtown Development Authority
currently leases a total of 8,500 square feet at a per square
foot cost of $18.85 for an annual rental of $160,225• The
overall cost for annual rent for all departments and agencies is
therefore $800,980 for 56,120 square feet.
Please advise this office if additional information is needed.
r
attachment
cc: honorable Mayor and Members
of the City Commission
R. B. Rosencrantz, City Manager
85--389: .
e4
CITY OF MIAMI, FLORIOA
INTER -OFFICE MEMORANDUM
To. Honorable Joe Carollo PATE: March 26, 1985 FILE
Vice Mayor
SUe,EC:Tr Space Leased by the
City of Miami
Walter L. Pierce
rn°M` Assistant City Manager neFcraEaeEs.
E„CLOSURES one (1 )
This is in response to your inquiry of March 25, 1985 regarding
the cost and amount of space leased by the City.
Attached is a listing of leased space by department,
lanlord/location, square footage, lease term, rental cost per,
square foot and the annual lease payment. The total amount of
space leased by and for the listed departments is 47,620 square
feet at a cost of $640,755 for Calendar Year 1985. In addition
to those departments listed, the Downtown Development Authority
currently leases a total of 8,500 square feet at a per square
foot cost of $18.85 for an annual rental of $160,225• The
overall cost for annual rent for all departments and agencies is
therefore $800,980 for 56,120 square feet.
Please advise this office if additional information is needed.
attachment
cc: Honorable Mayor and Members
of the City Commission
R. B. Rosencrantz, City Manager
qnr•'
y:
85-389: .
City
Lessee
,Department of Computers
CLaW Department
Office of the City Manager
Special Projects Task Force
office of the City Manager
S.E. Overtown/Park West
Redevelopment Project Office
Economic Development Dept/
International Trade
Promotion
Management & Budget Dept.
Office of Internal Audit
CITY OF MIAMI
SUMMARY OF PRIVATE LEASE SPACE FOR OFFICE USE
Landlord/Location-
Coconut Grove Bank
Grovecompco Inc./
2850 Tigertail Dr.
Florida National Bank/
Alfred I. DuPont Bldg
169 E. Flagler St.
Coconut Grove Bank
2701 S. Bayshore Dr.
New World Tower
Assoc., Ltd./
100 N. Biscayne
Blvd.
Off -Street Parking/
Olympia Building
174 E. Flagler St.
Off -Street Parking/
Olympia Building
174 E. Flagler St.
Off -Street Parking/
Olympia Building
174 E. Flagler St.
Sq. Ft. Lease Term
24,600 1/83-9/86
51500 Expired 8/84
2,383
1/85-1/88
a) 860
a) 3/81-3/86
b) . 963
b) 1/85-1/87
1,823
3,164
11/84-11/87
a) 3,860 a) 3/83-3/86
b) 575 b) 5/82-5/85
c) 2,140 c) mo. to' mo.
6,575
247 12/82-12/85
Rent/Sq. Ft.
$ 10.00
10.00
21.00
a) 8.50
b) 16.50 thru 12/85
17.50 1/86-1/87
10.85
a) 22.30
b) 9.85
c) 5.50
30.35
REVISED 4/2/85
Annual
Lease Payment
$ 246,000
81,020
50,043
30,000
34,329
a) 88,094
b) 5,664
c) 11,770
103,528
7,496*
*Other space covered partially by M&B
.ti:.�.�.��A��?tv�.,�dl::�+�'S9o�•. �� ���iRF�►�'Nr'�G9fMh#I��I ill�'f �11Q�11&�fAkl P
C'7
city
.Le�ssee
.Office of Public
information
Cable COMMUnipations*
*No signed lease agreement
to date, per Property &
Lease Managementj lease
payment will estimate
$B5,000 annually
Downtown Development
Authority
one Biscayne Building
11
Landlord/ . Location Eat -Ft-
off-street Parking/ 3,328
Olympia Building
174 E. Flagier St.
One Biscayne Tower 8,500
- Ft-
161.a.SeTer, Rent/Sq.
11/84-11/85 $ 10.85
7-84-7-89 $18.85
Annual
Leasesent
$ 36,109
85,000
160,225
$ 838,057
eN
£y
IIY �.r /11nr•II, r I11III($A
Ifa l 1 ti t ,! I It r= f•11. M104Ar'11111M
Vol11tt(11t 1';t l) 1 .Illy 1'a t'ir ( I r, ;. I, hl�l l•i'I1 '(, t I 41H 5 ru e
V i t.(a Mayr.
tr r .t► y Itrt i 1 -I i nN
Park
r rt•..a Wa I t. e1, 1.. I' i t.'1't!ter too I i iu rn i
As:; i st,aIII. l: i Ly H;II tl;r�t
11. 1t.
This is in response to yt)trr inqui.t•y of Mar•c;h 2'i, I981i re .rrctin►,
the appr•ai.sed value and size o f the stit) je�•L t'dCi I i. ty .
Attached is a copy of the AL)IIrai_sell 1,1u •_I_or=t crated August lg, 19`:?,
prepared for the City by E( ward M. tddrunker, ASA, SHEA, MA.I . Per
the Report, the Main Library Building contains 58,000 gross
square feet and has a replacement cost value of 54, 800, ► 00.
Currently this building remains in use by the Miami -Dade Pub1i;:
Library which is planning to ol.,cupy its new facility in July,
1985.
Plca3e advise this office if further information is needed.
aLtachment
cc: Honorable, Mayor and Members
of the City Commission
R.B. 1loscncrant7, Ci.Ly Manager
SS-389: .
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85-389. .
ill
2951-28A
APPRAISAL REPORT
Prepared for
CITY OF MIAMI
MAIN LIBRARY BUILDING
DATE OF APPRAISAL:
AUGUST 19,1983
Prepared by
PROPERTY CO�ISULTANTS INC.
9655 South Dixie Highway
Micuni, Florida 3:1156
EDWARD M. WAROlIKER, ASA, SREA, MAI
85-389..
.::
CERTIFICATE
MAIN L113RARY BUILDING, No. I Biscayne Boulevard, Miami, Florid(i
1, EDWARD M. WARONKER, do hereby certify that upon request of:
THE CITY OF MIAMI
I have made an investigation and analysis of the following described property:
Main Library Building containing 58,000 gross square feet.
and that I am of the opinion that on August 19, 1983, the Value of the building improvements
(without land) was:
Replacement Cost New $4,800,000
Depreciated Cost Approach $1,41 1,000
Income Approach $1,147,000
THE VALUE, set forth above, is subject to the following conditions:
The building irnprovernents, only, havt. been ul,l,r(liatal, pr!r ins►ruclions frofn lice Wily of
Miami.
The undersigned appraiser certifies I1)(11, to Ihtz lwst of his Iviowled(jt: and belief, the
statements contained in the cippruisul, sulljet:l it) the lifililirul culufiliul►s sill forth llek)w, tire
correct; also that his npprnisctl NIS I,tt(m 111(li .: in t:ulltolillily Willi tilt- (if 1'ruft-,ait,nul
Ethics of the Americ(ln Instit(ltt! ul Itau) I.alt)It: Al,l,t,ii:+cfa ill Iltu 1 hoiulttil Al,,tl, i(ilitm (,t iaall
Estate Boards.
This property htos hrt-n tipl)rttisell Its I11(l(1111t tltw t)I liuw. tu►tt 1•I1( tnlihi'llu:t:a, ill rtal)tifl'sihlt
ownership, Mill untlt:r c:(nilpc:lutll 1n(lfultle:111u11►.
No responsibility is lu ht: tlS-,tllllt:Il fill 111t11lt:11 lutl,ll ill lullt,lu, lull la (Illy Illltnit,It ill till(:
rendered hut•c:wi th. t lut,t l l i l l e. is ,taut l tc.d.
Both legal doscriplioith tind titlltt91a1+)11a tlft: 1111%011 tl(•111 >tnll +:> 111u1u1111 I++1+t tNl111ulllcllivt:.
Possession ut wly copy cat tliia rt-poll t11,t-a 11611 t.tllly Willi it 1111: li' hl ill I+tII+Ilt:tlllt+ll, fill( 111,1y it
be used for any purposo by (lily hill tilt: t1111,1i'atill willll,ul 111t: 1,1(:vitula wlillc:ll (.,lll�jt:lll +)t 11IL:
appraiser or the upplic:unt will, ill titty uvt:lit, (jf►ly ill il> ulllill:ly.
The appraiser herein, fly retist)11 t)f 1111a 1C:1)4111, it, Iits I Iu,ltlllCtl 1.) 1livt: Ic!41itlit+lI/ it ( ul+f 1, wiIII
reference to the properly ht:rcit► ttl,l)1(1iat:tl, 1t111t:1a t111t,1,tlt:,llt:Itla Il.l;+t: 1u:1:11
therefor.
The undersigned (ippraist-r lltis no I)t-t:Sutll ill tillll(attl+i(11(:+) t,llt+lt' Iltl,:lt:'+I Ili III(: l+l'tlIWI ly
appraised and the cortllwnsuliull tilt- I11 ikii1O 11t1:, (il,l+ttllz,il Ia lit III) II„11111t:1 t illllhl+lt:l(I 111)1,11 Ills:
value reported.
The physical condition of tilt: improvellmill, do-41.1 il,t:tl 1wicill •N+r. 1)0:6•11 .tit vi>t,tll ill,l+t:t.lit,rl.
No liability is assurned for tilt' so undlltt.,i5 OI itrilt:1111t11 lilt-1111)('I:+ >iitt (• lit) t:11+1ifu:trt11l11 It:,h vI11
made of some.
August 19, 1983 ke pe'tfully sublilitlod,
EDWAl11) M. WAit01,1KI=1 t, Sid -A, A:;A, MAI, Appi t0bor
85-389'. .
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August 19, 1 ` 11 1
City of Miami
Finance Department, Property Management
P. O. Box 330708
Miami, Florida 33133
Attention: Mr. Carlos E. Garcia, C.P.A., Director of Finance:
Re: Downtown Main Library
Dear Mr. Garcia:
E1,WARD M WAIIONKEFt. Pius
MAI. AbA. b11EA
1 E1: 11 WAHONKE11. Va:u Pius
SHPA
I have appraised the Downtown Main Library in Dayfront Park by the two
methods, per your letter of April 26, 1983.
1 hereby certify that I have no present or contemplated future interest in the
subject property. I have investigated all of the factors affecting value and all
information used was true and correct to the Kest of ►ny knowledge. This
report was prepared in accordance with the codes of ethics and appraisal
principles of the professional societies of which I am a member.
The estimated new Replacement Cost of the building is indicated at
$4,800,000. No land value is included in this figure. After estimated
depreciation and renovation costs, the building was valued at $1,111 1,000.
If the building were converted to rental office space, its net value, after
deducting conversion (renovation) costs, is estimated at $1,147,000.
In neither case were moving costs considered.
Very truly yours,
I'I"tc�lal= R'f Y C.ONSULTAN'fs It•Ic. ,
Edward M. Waronker
ASA, SREA, MA1
property consultants Inc. 9655 SmIll I DIRn3 I h�ijimay, Minim. Flurnla 331bti : (305) 661 8 66 1
85-389 .
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CITY OF ,MIAMI MAlt,l i'1113t_I�:
TABLE OF CON I I r•l I�';
Title Page
Certificate
Letter of Transmittal
INTRODUCTION
Table of Contents
Summary of Pertinent Data
Cualifications of Appraiser
Site Location
Sketch Plan for Bayfront Park
Key to Sketch
Photographs of Subject Property
DE_SCRIPTIOt',1, ANALYSES AND COr;CLUSIONS
Purpose of Appraisal
Description of Improvements
Sketch of Improvements
Cost Approach to Value
Highest and Best Use:
Value by the Income Approach
Analysis and Conclusions
ADOF.HDA
Mur,holl Vult,uli,in icrvitr. 1.�� �:►�,I�
85-385 .
' CITY OF %AIAM1 MAIN PUBLIC LIBRARY
SUMMARY OF PERTINEN r DA"fA
Location: At the foot of Fiaciler Street, on
Biscayne Boulevard, in Boyfrow Pork
in the City of Miorni, Florida.
Type of Use: Moin I'„blic Library.
i
Zoning: I'ublir.Iy uwnMi pork.
Building Area: SH,lltJl) a,pn,rc tc ol.
Replacement (:ost I h-w: ',!t,:aJ(►,fllIo.
(Building only)
Value by Cost / ppituu.h: ',I,hJ J,Uttl1
(Without land)
Value by Income Appruuch: ('.Wi thu„t 1,111d)
Site No. I
c� :S
"a Date of Valuation: Auy„at i'1,
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��- Esc. _ ,•
85-389: .
,i
71z - Site Location
I
F R 0 N T:,
S ' ave sw
I S.E. 1.• s T,.�,.y�••"•C. •�i 11 ••nr at•r...a wa•
FAONr PAQK 9wNO DM[Lt. .
PLAZA
i + '
S.E.
aa� •.
, . e Y .".• N• t o
k wv ( tJ
tg P 3t ✓a e t'a v ter
S.E. /A: �( ;qt3
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RK-
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pzr
r Ok
n.i2�r,,3M
Cl
rA
:s.
yam:,
1. SAYWAIX
&
KX)N1AINiTVQA
A 16,50 fOOI bOVwok
A XA Iwf cJk.;If ?Iw
Int kA-Ary o bOY5.09
JA3yrXl I.AIlU UfuU troal
Jl.lnxllk:kltty Illttllscn.ts with
prorrlerw3ce. thred k]l
pe3ti a rlew bulkrvaod
C-Gln rr•a Lklywok ]raj
with fp rOp. 1(jhtna
ftuw Strual in tnu ctontw
�
Seam lon=ooinQ
tS a rrW:4nelntJ1ntO1 fvuntaln
11101 Will Cle cc(nputer
SQno0e ono oravlooeproprOrhrTdC
The boYM� to be bit
to prowca
by the Caps of Enp>
varrAA wotw MPOY&
The rrvnet:cJte tcunton
rOWL wY ir* with
M.KXTO Centet Ord the
OreW con ba rox-jea to
Maxi
eft,ote a retie cirp/
wOcVV poa Cx tt.rr*^J oil
2 ROCK GARDEN CAFE
to cltfcltu arx:Irrif r"Ict-
Ranob0own of the
On lop of lhd
(Yea it to of free
ellafnp Quoins rock
four
fOunfarl
g�patroal pow and
fountom IrCLK lng a
s
PIAYSCAKS
new Ir1a=/OuI0=
Urecud tCi.VtWOf CA3y FhJCu6
into n cl cote nestled
"between Ind rock
I" cl#.ItoI (arK3 Ire! YCAdv
poroen ono the bavwok
of henJll.
7.
CNOPIN PLAZA COURT
An ppallor. O(QSS SJr �ritJ
A �Ldlfwl,rAJthu QIW cf
ar1'1pnitrW47tre wrn:rl we
Ire {w]lk will', Y, t2vL d
'lIIUI nv u
;"ttum
occonyrcx37te up fU
)0.000 Spuctalcim Ttw
em x
I,u1r��n,.�1.,us �.:Iu�JrvJ
urrlphilmAille rcite.Jos
LX L;Sav fix aWl.
stood Ly a1 k ivu or.y
&
aAYF►20NI PAW PECKE
ocousfk: ulues. as wad
MGjVTR S1A►1(:r4
OS ordCA10Iy fxribs fcd
il., pLee e.ew I.-A4au II.,•.ur
peuldnKxs. C*askjreo�J to
;IIlk di „A 0lee I-A.t"" Ilun
GE► o rr)UIlptiµJsd luslNul
Ism 01 'A l•rll Sllwl.
OW pWlc4f xv)ecd Ltd (of
w A : A$ •. di el .; lta..l Cy Jf l
h3(ppeerr5,CQW dvtonls It
u.uo.:lu.3 1-JIJo:110It.
natua sallinp
1 t. yu 1.- W&S sltAkA I
A. UGHT 10WER
I wtits atu wve><
A nxAkxl1 H.%.4.,Iua1
f I O-) 'kvllnu/su' w10-11
wi ftsululu 41 OVII, rlu-
►eflt srtuw cis f avid Ism
k 1Ca Iuu1 fuweuw LUJ
t%Ajb0s ll (L^AJ Lug •.ua:a(1
U1u1.;jLmk turd xr~lally
ara;4µ I.XAAC 1401,111."1 r
and fwprll:n.a
85-389: .
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CITY OF PUBLIC LIBRARY
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17:
T TF
MAIN PORTION OF LI(3RARY--FR0.IT '1I1-_'l,11 LOOKING, EAS.I.
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CITY OF MIAMI M:11t11'lifll 1� I Iitl?;.l:'i
SOUTH SIDE OF BUILDIVIG.
SOUTHI.;6Ti�;--
LOAUII IG Lh)<:K W1 i.f i 1-W;
6-11
CITY OF NIIA Ml MAIN PUBLIC UiIPAFZY
ij �i �{r� ) tom' I
"��.IVLYTIM:nMI�IF�::MU:i�i:diY4lJ.inM..a.r... ......s,i.r— ram_.. .......�......•tinw.�
1 101 c I 1 ILA,)* I t '(WI II It (,I. 111 111.1 ill It
`/IL•W OF ROO) Lo (_;I.If !(, ' its!{I'1 f;'r'I:';!;_i;l_
il,
WIM
CITY OF MIAMI MAIrd PUBLIC LIBRARY
Property Consultants Inc. hos IjeQri recluesll.11 to tillpt-,ii-w tltt• li!,rory !,t,ihticiq
(excluding land) by two metlwds:
1. Basta on r"pI%x-.t!mt-nt colt 0t:11 dt:pri.-c itio n.)
2. Base,I Un on iIwotlit! iipprt►11(:11 ,U fIItAItJII 11 wett- rt-ioi.-iI I" )I cdIit:t:5.
Our upprou► h lu flit: itlil ti6til w,ih twu t.,ltl, g,, t•,ll,,:va:
A. The estimolud nt:w rujiltict- viii t.tt,t tit Olt: I,uil.lillt] �nll, e••,Iillltil,',I by
the LISC (If Mtlr:,htlll ,tint tiwltt ..Lib) C�tIIIlUlllu) IIIt:lltutl, gl.11tl -011 :rttt, tt I1
al t' 10led.
We then r_1t1111tItC(I tall .IIIItil)tIl for .Irl,l(a.l,ltltllt, t,l 1u:.•4 lit V.ihir. t1will
all C(lusas. I llt: muill cilll:.L: tit ,1t:1)re..6111tilt I:. Inl,•:.t gilt .n)L: 1,11111
ubserved I)liy5i(:(ll L:urnlifil�n. `.ic(.c;l,tlly, vitllt: loss ill v.11llt: is ..Ittt:it:.t
Clue to hilictiullul cliu,t:ll bj flu; 11,t:,.iu1 Itiyuot tit
the desitjrt chid t:xtreillt: wiriiiliUl►J ill t ciliiuj itt:i.ttll,.
The ustlttilltCl) ,!e7lJrtlt;lilllull w111 Illtal ,1t:glU,'t.'tl tl,dtt I!u t •Itt.t !It'•f
new re!')lucrinrnt cost of Olt: I,uiltliiuj.
No amount was deducted fut' costs taf rluriintJ Iltt: I,t,il.1i11��; Ilt)w,:vt:r,
probable renovation costs were considered.
B. In considering the rental valUt. us LHI uftice buildiriij, it -:,us nt:(:v,sary
to select hypothetical locations within II)r. ,)ur illit:tt--r Ito :vhit:h
the building was capable of being moved. '(•his tirvo i, t:clint:titrtl cis
Biscayne Bay on the cost, Miami River tin the ,olAh, tht: `.,oul!It:ca,l
Second Avenue 03rickell) bridge un lllr wt:st, olltl III(:: I.tlst-INt:,t
Expressway leading to McArthur Causeway can Hit: north.
Without actually appraising the vaiut=s of the hypothetical sites,
estimated, in rough, the land values (it the selected locations. This
would enable us to more accurately proiect a market rental value for
the building.
85-389. .
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4�=r•Srts;�^r«y� t1
- .%
4
CITY OF MIAMI MAIN PUBLIC LIBRARY
PU111-1 111-- OF I'I 1= Al "I'I tAISAI .
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Property Consultants Inc. htls tiLvn roquesti.-d to tippr.li-w flit: lil,rory l,t,illling
(excluding land) by two methods:
I. Based on cost (Iessi olt:l)rt:t Itlliun.)
2. Bust-d on till iiwolmt! opprtwch t11 Itu,t)ttll it /vit! rviot-if (,)1 ufflt:t-s.
Our tihhrom.h It) the iiplimibrll Iwo hild, t1:, hill.,:vs:
A. The Cstimulud now rupilct-Illt-Ill t.t„f of the twildill.J `:/LIB t•,tillltilt•.1 by
file use of Mlu:,11t111 .11t.l `)Witt •.u:bl C:,IIIIlilt lilt) Illutltutl, 11,IIti 111t %vlll. It It,
C11 if ILIItrd.
We Illell t_itlllltllttl Ill .1111t)tillt lur .lta,rt:t.lull,)11, i,l It,:,> 1,1 `J•IILIa:, fluill
all C:tluseb. I llt: Illulll clltIty tit ttt!pre..l.11ltlll I% I,.ltwd Lilt .ult: Old
uhserved physictil condition. `.iet.alltlly, -itime lt,Ja ill v.11tic: it, bL,tt,:rllL1
dtle to fUIlCliun(ll ctltitcli I!y lilt: !)jw,.itII Itiplill til
the desitin tied txtreme v(lrialiun!, iil t,oiliiit) ill:i,tlll,.
The estimolt.tl .Itail'tt:ItlllUfl `N(11 flit -it dt.:41tlt:lt•t1 Il..ilt lilt, c••.Ililt, llt-.l
new replucement cost of flit: I,tiildin,j.
No amount was deducted fur costs of niuvint_t flit! I,uil.tiiit;; hk)wt:vt:r,
probable renovation costs were considered.
B. In considering the rental value ux tin uftit:e lxliidinca, it 7.'uS Ilt:cc-ascry
to select hypothetical locations within flit. l)ushibfc perittieft_r tti :vhit:fi
the building was copable of being moved. This tlrvo i, t;eliiit:tllt,tl cis
Biscayne Bay on the cost, Miami River on the -,LoljIh, Ills• `rtnitht.- st
Second Avenue (Grickell) bridge un file west, 'mid Iht. i.ti-'WI-Wosl
Expressway leading to McArthur Causeway on the north.
Without actually appraising the values of the hypothetical sites, -ne
estimated, in rough, the land values cat the selected locations. This
would enable us to more accurately proicct a nlarkct rental value for
the building.
85-389: .
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CITY 01= MIAMI NIAll I I'I iltl W 11111:l.It'(
APPROACH To il-1L= 1-11 tt )1.31_1:.M:
The hypothetical locations selected for tl11111y-�is ut:rt-:
I. East side of Biscayne Boulevard, betwet-n i lorthotlst Sixlll (Ind
Eighth Streets.
2. In the area between N.W. First Street and Horthwest i'if II, '.street,
east of Northwest First Avenue to Northeast Second Avenue.
3. Its present location on Biscayne Boulevard.
An analysis must be made of the highest and best use of the building, frofn the
standpoint of what type occupancies are most likely. This is discussed under
"Highest and Best Use" further herein.
Based on the analysis of projected office occupants, an estimate of current
market rental was rnade for each location.
Rental income and expenses were projected to yield an estimated net incorne to
the building and land. A fair return on the hypothetical land value was then
deducted, leaving a residual income to the building.
This building incorne was then processed by copitalizatiun into an indicated
building value. The: last step by the tipprt)i- r is vital to tl proper final
conclusion; that any further costs of rr.flovtlllull 1)4: (lVdticictl it) indicate: U nel
value for the building.
l:stlflluted ct)aIS Io 1111tvc Ills' 1,1tildif11) Its 11111illtt-r >Ilt-. wcll. Iutl .1t;,"m Intl I11 Ihl!,
untllybis.
l If ltllly, tilt: ifidictltc-11 'Al IIlt': I IIIC IP II I, III III I,/ III 1 1,I.A c-1 (1t:1 tI ' •i71 :11.1,l%tilt I
(Ir.» tit-l)rc'Jiltit,ll) 1.tnt I,c 1.,111I,.IIr.1) 1st 1111; I,1111.111111 ,11,u 111•lt1 iIttal I,/ Il,u
hwtimc Al)llrl)tic.lt, 11tic;r •It:111t1 Il.,t1 „I I,:tn,:ltll.,11 1.1.�1� 111 ;..,I}1 111,1.11.t1t 111:1.
85-389; .
CITY OF MIAMI MAIN PtAll_k: 1_110Wl Y
APPROACH TO (1 il_ I'I 7c i SI_I ,Ni:
Similar rase Study:
3
The appraiser has studied a similar convursi,)n lu oftic(:!, (if ,u) ,,ldul— bill
architecturally appeoling building on Ilse edge of (:orni (.1crl,las. I-urmerIy
owned by the telephune corr-rpxrny, it has two stories ,ind n 1)(is,:rn,:111, curl nu
completely renovated for rise, by on (irchituchircrl firm.
Containing 42,500 square feet of gross area, it has substontial on -site I),.ul<inq.
Constructed in 1945, the property was completely renovated c!t a cost of
approximately $750,000, or $12.65 per gross foot orea. Sorne of these casts
were for site improvements, thus renovations of the: sut)ject woul(t he less. ,>
detailed analysis, based on an occupant's needs would he in order of the proper
time.
Land value was estimated at $15 per square foot. Office rental was r-stiinuted
at $ 16 per square foot, with the tenant paying nu operating expenses. ftie
building was appraised, after renovations, at $2,600,000, or $61.18 per foot of
gross area.
Other experience of flit. unulyst inclurlt!s fiat h,rnd knowldqe reejordin,j office-
building operutiuns in the Biscuyne I wi lev,lyd ,it co.
85-389. ,
(-_ITY OF MIAMI MAIt'J PUBLIC LIBRARY
DESCRIPTION OF TI-E IMPROVEMENTS
Construction Features
Height: Approximately 43 feet, including 1)nrnpet, (ind roof
structures of 15.5 feet, opproxirnately.
Stories: Two stories, 16 feet in height, each with partied
mezzanine fluor eight feet in height.
Foundation: Reinforced concrete caps on wood pilings under each
column. Humber of pilings ender each cap varies from
one to ten depending on load.
Columns: There ure 83 one fuot stjuclre reinforLud t.a)Ilcrelu
columns supporting the floors and roof, ns :ve.11 as
approximately 88 three-inch by four -inch steel columns
supporting the book stack urea. 011icr steel t:OItjri)ns in
flee buokstac:k erect are nun -structural.
Exterior 'Halls: Concrete block, with rnnrble facade. Tlu:rc: is a (nurhle
curb containing pluntintj bin on the west side. A
dtecorolivr. marble boml rims tllcn y lilt! 1,11) of the
windows. A portion tit file trust fuctitit! lurl nu timil,ly,
but is mercly 11ul.t.tied t,vcr c1micrctu
Interiur Mills: l_ut,l/y wcllls ul't- tit j,ltult:r •;iilll 111,u1,1v
11ut)Icsllelves, seven frt:t Ili ji, lillc lily It:udilly rtlt,llls
walls. PtlrtiIit,lls tlrr. ut IAJIIt:Ir_Ic I,lut.k.
Floors: Mt_Irble floors tlrr. ill II1t: Iul,l,lc:t, t,IJ lilt tllsl ..11d ,&:1.11111
flour. I:x1)4sCd t:rtltt:Ill tlt,t,l's 111 t111 tltlllly .IIt:t11. Ills.
Illtlill le(I'lilltj rt,t,llls lltive. t111,111111 lilt: 11t11)1 1111 lclt 4•1 „vt•1
t:ullcrele. 13uUksltlt.l: twv,l, tllltl Inlvt: t1',1,11t111 till'.
Cellillg..: 13 fctsl lu;ljll twt.Ullslk.tll ill rutldllltj rt)t,l,l1 I,II 111';t
floor. Llavcn fut_1 hcitihi in Itjycr (Ilvt: tt.,_I ,IIt,1,1x:d1, P)
ft:et, 8 inches llcilJllt ill lucitlre wum, is tt=i !ICit_jllt ill
bookstack ovens.
Second floor ceiling is di-u pcd futur foot frt.Il1 t.'ont:rcic:
roof sltlb.
4
85-389'. -
r`I I �I t 11 NIIAi111 MAII I I'r Il a It Ill
j
I.�1 `,�'I�II'Il1Jl l r,l
1111 1tgll110 O I fAl 1 I ', If ,fttlrt,+ft fll
Ceilings:
Mr.ttrl t.crllrru)5 ,u,: fit Ih,! !'t.f,l% 11.11 I. ,u f•,r'J.
Plaster e,:ilirnJs ill uOWI foulrts.
Windows:
Two stories hi.jh
hililding. 11tlrt t.,t tli,_ e:flst -,iflr Mfrs t,,,,r ,If,ffbit!
ptlnrl fixvd willdows.
Lighting:
Fluorescents, plus spot IifPubs on triwlcs ir, I_t•t,tt,ru I lull.
Roof:
Concrete stub, two inches of insultltion, Imilt up I,rr and
gravel on surface.
Roof Structures:
Includes two fan rooms and rnochine rot, ins for the
elevators.
Toilet Rooms:
Tiled floors and wainscoting with rnorblc sf:{�tlrt�tin,�
partitions and wooden stall doors. White plumbing
fixtures.
Electrical:
There are 14 electrical panel boards for lighting, plus
panels for the elevators, air conditioning system, fans
and pumps. There are sump pumps which discharge
beneath the building.
Air Conditioning:
There are nine separate heating and air conditioning
sys terns, with three compressors, totalling 180
horsepower.
Elevators:
Three, one in lobby, one in bookstack area, and one in
the rear receiving -utility area, each having 2,000-pound
capacity.
Stcirways:
Four sets, one in the lobby, two in the main library room
next to the bookstacks and one in the rear.
Utilities:
City water and sewer, as well as a gas line and fire
system supply lines arc connected.
85-389'. .
s
ICITY OF 101A.Ml MAlt 1_Pt 1131-1C, 1_111RAl " r
DESCRIPTIOrI OF 1 HE IMPROVENII:-t I'I S Kojillnut-ti)
1 ROOMS LAYOUT: (Refer to Pions by ;te;,:irtrd anti Skinner,
Architects, Miami, Revised Hovernber 21, I',149.)
First Floor: Four marble steps to a marble topped Iundling lead
to lobby which lecids into a large foyer. Two small
rooms (aphroxirnutely I I feet by 14 feet) and two
lame rooms (approximately 31 feto by 41 feet
each) flank tht- Tubby. A luroje orect is sut off for
the book stacks (ctpproximarely hb feat by 0
I feet). There is u ten -foot high vault room crt,otrt 10
j feet by I I feet; and a rourn 21 feet by 2t; feet,
accessed through an adjoining room (%approximately
41 feet by 30 feet) crt the iouth end of the
Wilding. Also, at the south and are Iwo mtt-n's and
two ladies' rooms.
A receiving ontl shipping rourn (approximately IS
feet by 30 feet) adjoins the loading plotfurm ut the
southeast corner of the building, Below Cite
locidiny platform is the transformer vault room.
There is a concrete canopy over the londing oreti.
First Floor Mezt_unine: Exists above the booksitick urea Lind rear (scn,lh-
e(lst) util'ily/rect:.iving art -us tit Iht- tirst fltx,r'. this
rme,(lunint- coinprist=s npl)rctxilrlkItc.ly `),Utlll ;tltrclrt:
feet of floor iirunl. TI%t- Iartjt-st porlion of t,,000
sclt,ure feet is odditiuncll bookstuck cIr'eu. Ilit:
btilance is cI hook repair Midwork urecl, uncl �Inrttc�r.
bin rourn.
Second Floor: 1••las a lobby and toyer with various rt:aclinti rooms,
a IUrge (30 feet by 71 frt-t) lecture room with I S-
font, 3-incl► coiling, voricius offices, stutt locker
and toilet roolms, ttnd cI smaller (II,IUU scluitrt: tc-et,
more or less) bouk stark or't_tr. (tore it, trlbu o
vault ratan (1'20 sgtwrt-. fuct) wilt% o ter► -total
ctiiliny 1%uitilil. I here tire t-ictllt-foot otid tivc:-Iotjt
wide curriclurs st-pttrtlting Ihr, bumba of room -is.
There are three pul,lic toils-t rooms on this floor.
Second Flour Mezznnlne: the rnezzU► ine COW-lin5 C]n �IdditiUntll r;,l)00 Stltlt:re
tr_el, (lust: or luts, of iu,tik attut.j< u}tl ,1„rtic)t- Orr.U.
85-389. -
6
=f
y
El
217.1.
Building Sketch
DOWNTOWN MIAMI LIBRARY
NOT TO SCALF
85-389. .
1
a
CITY OF MIAMI MAII I PUBLIC 1_11111AIlY
COS IF AI'I'I MACI 1 I O VALUE
The cost c)pprlluch Iluly I,t: tictirtcd tls "flint ,Ipprut ch ill (-ipprtlisul uncily!,is which
is lulsed tan fl►e propot'ifitirl if1.11 file inhalnu) f,1,rt:lulser wuultl Ivry nu Inule Ihtul
the t-ost tit Lrthlticintf if sul;sllhife properly with the -3tlll►t_ utility (lb the sul,ioct
prul)erty. II is I,urIit..l,I+uly tlf.Llit milt: whey n Lr,)purty I,cintI (it ,t,r,littv,I ilwc,lvcs
reltltively nt:w impr,lvt:nlc:nlb which rcpresenl the highubt ,Ilttl Lt:sf ww: (it the
Iunt) of whell it:ltlllvely unl,Ille ill* �111t:tAtllhecd imps„vulllvid.-s t1rt: lintited un flit:
site tllltl tol' Which Illt:rt' t:nlll Ili) ,:uIIII )m,11,1U 11rt,1►ul ficti till flit: Illtlr kul."
The tlpl)raisrr follows five: slcps in e.'k!k.111i11,j 111t: cost tlt,lrt;tu.11:I
I. Estirnutea file current relit-i,llut:lit.n t)r relilcic:eincitt t.tlst ut file
existing strueturr(s).
2. Estimates accrued deprec:itltiun trt,ln tell cutlbes.
3. Deducts accrued deprecintiun to derive tin imlit:nted current
value for the existing structure(s).
4. Estimates the current depreciutcd value of twcessory
improvements (minor structures, Lurking clreus, "-W.)
S. Adds the indicated current value of cell improvenitsnts, to flit:
estimated land value to develop on indicated local prola:rly
vo I ue.
An analysis of land values was not undertaken, per instructions to the
appraiser. Our cost estimate is in the following pages.
I Bryl Boyce, Real Estate Terminology Handbook, 1980, Page 053.
2 Appraisal of Real Estate, 7th Edition, Pages oo and 057.
a
E
CITY OF MIAMI MAII•I P(.gil_I,: (_I13IWA Y
COST APPROACH Try VALUE (c:ontir►utal)
The construction futtturrs were input It) the Mtrr,loull ,ual Switt taH„ptiter It')
Obttrin the estimated r►ew reld x.einent t,ust, .►s tslium, l,Cluw. • I,► tl►r A.I,Ie„tlo
are reference ptrges frtHn tl►e Mtr,'slxlll V•,luutita, aervit•r. pul,lit:t,lit)r,.
COS-T DATA F`,' MttiRa FAR(.L AND �r-IIFT
+:0:•T E T I MATE FOR: H111:4. l r: !. 1 bkr7k`, - 1►CII�+r1 t I II��h 6khru' H
PROFERT`,: OI-INEk:. CITY 11F r•IIr,r-11
r+[+C�RE :::� [+ I �: rt'rr�F At7rJl..L'•!,�,t•:!,
L IA9E`rE11 li+`r :_ PkOPEk T Y " CAN . i ►I_ T tir, I : I I It. .
U F+ T E OF : U R'•i E',::: A.
DE,: is R I PT 117r+:
O,::r: L►FAPr,: 'r : L I bRAR`r
FLOOR AREt; :- FEET' HF 1 +;F+ l : FEET
A F I REPROOF : TEEL FRhl9[r f:f:Ft=+ I t'!!. ►i,:,l:: i`, t-.r,N .
►:0`.T RHrrF.: :, t, AEl7'.�E A'�lsRr++�E +"[ifif,I l(Irt: �. r,
NQM6ER OF = TOR I.E ::. � .. r+ c:t T. ri : HF- .. t �:� •:y j
E:%TER IOR r,�A(..L:•
(:Oto'RETE E+LO►:F... ............ t.r,r,•,
HEATING, ANG ►:OO(. I rv;:.
HOT. ANG +:H I LLEL rt�H'T ER.............. 1 r,r,•:
OTHER FEATr_,RE:::
ELEVRTOR SERV I NG 5 -+.. r, r., r, FEET
STORRGE ME?ZAN LNE
LINI T ::
+:O :,T
TOTHL
br+SI+: STRr_u:TURE +:0• T.:.
7-
4•�t.�. nr►,�
HUULTI0N:::
[►Di: k MI-TH ROOF" .:.: :.::::....:.
�6p
L�,.A5
TOTRL ►.IFER _ TRra+: TURF +: 0 : T ..
5:1. r, r, r,
. �a
-a, • �•�� • ,
ENTRA0<
MRRFLE 9ENEER
,:. r,nr,
REP(.Ai:EMENT IM T NEW.:-*—!.'..
a.:ir14.6;;
85-389..
V:
I
im
CITY (W Iti1WN41 f All I I'l 1111 I1_ 111;I?�;I�Y
COST APPI Z()ACI I I() `JAI l )I-:
Depreciation from till cotises, 1) iy%i1:111 1111d t�1111:hl)11'11, ':I11', 1:51111u1t1:11 ,It 1l)
percent. Thus, the indicated building vk1lue i:3:
Replacement Cost New --per MarshnIl 4A `iwift (rc,u11111'tl) ;th,`i?2,t'(W
Less:
Physical Depreciation Estirnateel at 30 percent 1,356,11m)
Functional Obsolescence Estimated at 20 percent 9011 5()t)
Present Depreciated Building Cost --In Place . 2.261 300
As previously discussed, renovation costs would need to be deducted. Such
costs, if they approach $14 to $15 per square foot, would equal $812,000 to
$870,000, thus reducing the building value.
If we deduct renovation costs at $850,000, the net building value is $1,411,000,
rounded.
Again, the amount of renovation required would depend on the needs of a
particular occupant.
85--389. .
Cirl, 1It- MIAM) MAII-I I'IJtt -W I_IliR,lRY
i-qu Ihs-r ANDBEST USE
11
The appraiser has analyzed the putential possible ust:rs for the I,t,ilding. An
important deterininunt of the type of potentiol occupant is the porticlilor site
of where the building is to he Itxnted. In tiny event, ilia upproiser has osst)rned
that Borne land would be uvuiluble to provitle lilniteo off-strcct luirking. I huve
estimated that approximately one titre of Iciml would be tlet.rt'stlry to
accommodate the building.
Possible users could include a governmental citjt:nt:y, tr large Itra t)r ucl:ul)nting
firm, a stock exchange or other type curnmodity exchclncje, a tirl(lnriul
institution, a large architectual firm, ci medical clinic, (i inuseurn, an
educational institution, a motion picture or bromleusting studio (Intl pohtibly u
group of boutique shops, etc.
VALUE BY Tt-DE INCOME Al-11ROAC1-1
From a Inoxiinurn earning point of view, the inost prufitt)ble type occtipant
would probtlbly eon.)1--,t tit o lt.11t)v tlroft:ssiol"ll firin. 13liatal in rt'Sr.tlrt'll Ilttltted
t)y the scc)p, of tilt;' tlsslcjnll ent, I litivt: prolr:(.tr.1d the pr„bol)I(: rc:tilol mcC>rrlr.,
(lfl4r ronuvtiliuna it) IItt11 c ttct_ sI)-we t),tll:It:, fvl tltt. 1,i.Irt.lt:tl 1h(t'C �11u
It;t:at i(ins.
Rentals arc projected to be gross, that is, -r/ith the londltrd h..Iying the list/ctl
1 operating expenses of tnxes, utilities, llisliroll(a:, rel-imrs, moilitcattlnce and
n
1 monoyeinent. Of course, t.1 loose may btu nc:(J )tiotecl 'r/lierein IIIC tenunt p) ;/5
soine of these expenses, tend the rc:nitil be rCtIlicu ! to off'sel 11hese costs.
Rental mites applied consider tlklt tt:ntvtrs ptly for ct)It mon tlrokil, tis vicli 11b
their office areas. Thus, the gross bulldllit) tlrt:Cl '.Ytl:, U)jtld 10 1)1`614:t:1 111l.010r...
The sites will be identified in the Table cis:
No. I. East of Biscayne Goule-vord, I lorthutl-It SiXth t)rttl l_ighth
Streets.
t`lo. 2. I-Iorth of Horthwest 1= irsl `,trt:,-.t I,) I lor'thwust F if Ili "ort:t:t, ix-t :•rcr:n
Hurthwcst 1 irst Avenue tail 1 ll)(Illt•tlal `it:ta)Int Avt:ntw.
flo. I. (Ili 13(l:�talt Itk:iltle)Il lit ISlatalynr. 11ta11c•/1tr�1 c)lelcec�lte: I' 1,It)It'r tdrtlot.
85-3896 .
r. 1
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12
CITY OF MIAMI MAIN PUBLIC LIBRARY
PROJECTED INCOME AND EXPENSE STATEMENT
MAIN LIBRARY BUILDING
' 3
1
SITE r J MBER
i
r IUfvlBER I
`r It_Jt,AI3-r:--11 2
1 IU�y11 f� 3
Gross It,come Estirnuted
Building Area-S,I.Ft.
58,00o
SE;,I)t)U
5)3,l)t)0
,
Projected Gross Rent per Sq.Ft.
I I_Ul)
ItLUIJ
Total Gross Rental
jt)71),UOl)
;14)311,1)00
;,1,044,000
Less Vacancy Estimute,!b 5%
It 1i_1(10
11,900
`A1200
is
Effective Gross Income
,)1��,5ulJ
�,�,t►h,lttti
;,'�'�1,)suu
j
Less Expenses:
Estimated at $5.00 per
(including taxes) x 511,0t)t)
!'.ilJ2tn11)
�'1t11lllJit
:►tl�++lJ(J
Net Operating Income
ul,tltJt)
CAPITALIZED BY I3t .M.1)It It ; I (l: `,II
)I)AI. fill: I'l It
Income Imputable to Lund lcu .08
is
of land value*
_ ilii�tlUtl
- I/�.1iJtnJ
-h-�'_itaJ+►
Net Income Residual to Imhrovemcills
219,700
IhU,lt)u
lt0,00u0
Capitalized @ , I I =
Improvements Value
$1,997,272
;•I,: 7 S,o S,:
; I,:f+ttJ,+J+uJ
Less Estimated Renovation Costs
- 850 U00
_t?StJiuoo
- t1`,uit)utJ
Net Building Vaue--Rounded
$ I, 147,000
;;�►1h,lx)t)
; I,t)5u,+)t)u
�1.Kt
Presumed land area required
44,000 sq.ft. with estimated
land values per sq.ft. io$90 = $3,960,00,0 t.W'SO
85-388: -
r
CITY OF MIAMI MA1H PUBLIC 1-11dl AHY
ANALYSIS AND CONCLUSIONS
The foregoing income analyses resulted in the following indications for the three sites
proposed:
Site No. I: East of Biscayne Boulevard, between tlortheost SiAth (intl 1_itjhth Streets.
With an estirnoted market renttll of $15.00 per s(111(rre fora and r.xpenses
at $5.00 per square foot, the in(ii(:17ted vnlut: Of tmiklin0 improveltients in
place and renovated was $1, I47,UU0.
Site No. 2: North of Morthwest First Street to Horthwest Sth Street, e(rst of
Northwest First Avenue to Northeast Second Avenue.
With an indicated market rental of $1 1.00 per square foot and the some
expenses and conditions, the indicated building improvements were.
estimated at $424,000.
Site No. 3: The presently existing site, with rental estimated cit S18.00 per sq,wre
foot, the building improvements value was indicated (it SI,05U,000.
The reason for the great variance in values, aside from the (liffuring rental estimott,;,
was the difference in estimated land values. The present site- htis the highest lund value.
and would command the most rent; however, the (unuunt of inC011le 10 he (IUd1JL:tCd us (I
fair return on the land, resulted in less resitlutll inr(,lnC to the buil(lill(j iinpr()vt_rntrtlts.
Thus, the estimated values rusultinq frtrrti the: hirv(pAriij I %,vo (ppraititAws—, of tar pr'ujt:('tr.(I
renovations, are indicated cis:
Building Value by Income Aih)rooch: tr_ I IL). I Site: I Itt._? Silt: r lo. i
I,Ih7,t)tH) ;;424,UUt) /I,ualt,UUU
Building Vciue by the Replucc:rnent Cost_AL)2!'"( -1,: il,'il I,UI)u
Estimated renovation costs of `;850,000 htlVe hC:C11 (:u►uit!ett:(I. ! Iu L.u�tb tar Inuvilttl the
building have been proitcted.
It becomes obvious to the: cjpprt.ii%,er that willtl thu bt,ildin(J Ior ills I,rr„lu('lit,n (fit im-wtic
is not economically fecisible. I_tltl(I Vtll.lJc,� tltJ`Ni1tlIVJ11 tlrtl IGu h1tj11 to lti'tit'/ tht:
construction of a low rise builtlirlrl.
In the case of Site Flo. I, it ini(Iltt lit: trilsil,lt_ I(, %Iwild 1,1, lu Ills: 1,4:I I,(liitlilltj vttl( (: „t
$1,147,000 to move the bulldiiiO, I Itiv/r'vt:r, IIIC lit It .1 IiluV(: 'l/..ttltl !Itiv(1 to
be based on otit: r Chun ,ttlt'tly IIiioit'ttii (,it t-zI,IuI.Illull`,.
85-38S. -
,
3
' CITY OF MIAMI MAII-I P HLIC L11illA10
ANALYSIS AND CONCLUSIONS
13
The foregoing incorne analyses resulted in tilt following intlications for the three sites
proposed:
Site No. I: fast of Biscayne Boulevard, between t torthenst Si..th and l_ighth Stret:ts.
With an estimated nlorket renitll of $15.00 per sgmirt foul arl(I expenses
at $5.00 per square foot, the indicated v(llt.,t: of t,viId1'1(j ift(I,r,,ve((tews in
place and renovated was $1,147,000.
Site No. 2: l',lorth of t',lorthwest First Street to Northwest 5th Street, east of
Northwest First Avenue to Northeast Second Avenue.
With an indicated market rented of $11.00 per square foot and the same
expenses and conditions, the indicated building improvements were
estimated at $424,000.
Site No. 3: The presently existing site, with rental estimated at $18.00 per st,()clre
foot, the building improvements valtie was Indicated (It $1 ()50,U00.
The reason for the great variance in values, aside froin the (Differing rental estifnute: ,
was the difference in estimated land values. The present site: hus the highest kind vultic
and would command the most rent; however, tilt 1111unnit of inculne to be deducted (I'i (►
fair return on the land, resulted in less residual incu111e to the bulldill(D ifnpruve(neiits.
Thus, the estimated values rusultinc_t from the tur(•,Iuin(j Ivv(1 t11,Ilrt,tu.lt(a, ,Itt(:r prujuctrtl
renovations, are indicated as:
Building Value by Income Appr cch: `,ita I lot I Site I Io.`? Site I lo. 1
�17,000 24,t(j0 ;, I'oso,(1uO
Building Value by the Rel)Iuc(rment Co!_INpLrc,(Icl.(: $I,'ll I,Ulllt
Estimated renovation costs of `,,t3tit),UUU hCIVe I:een (:(,nsi(!er(c(I. 1 It, Lvtt!) tar lnuvint) tilt:
building have been projected.
It becomes obvious to the approiacr thr11 ,, i1((I Ilt: luilditltj i,,r tilt: Inotluctitm of im c,tf,e
Is not economically feasible. Ltllld v,ll.,,,:.i dt)w11tUYdfl tlrC lou !i(,)II Io tll�Ilt% the
construction of a low rise: buildil1q.
In the case of Site I lo. I, it r►li4)I1t he tt:,lsible it, ,I,t:l (.t lip Ili 111t. l,t:l I,„ildillt) vtll„(: „t
$1,147,000 to move the: bUlldlllO. I ItAvttvt'r, 111V tt'(l%lblllly ',t %1), 11 tl ill(Pit: v/u„I,I h'iv(: lu
be based on other tlUn h1liCtly IU,(111"(tll "Ill 1-3iliCtIlllull,.
....:.... .
i f
85-389
A
i
I
i
I
1"
LIBRARIES '���•• ►y.i, t
(CALCULATOR METHOD) t
CLASS
TYPE
EXTERIOR WALLS
INTERIOR FINISH
LIGHTING, PLUMBING
AND MECHANICAL
HEAT
`COST
Sq. M'
Cu. Ft
Sq. Ft.
A
B^_
-
A-B
_
Gaud
Average
Z:uu d
Slxcial architecture, metal and
Blau, marble. face brie):, wont
Face brick, metal and glass,
limestone. architectural concrett
Special architecture, meal and
_ glrss,face brie):. stone. concrete
'
Piasie:. carpeting• vinyl.
nrnca unl.esrt a• i� ci
' .Ft
Pia;:e: u: &- i:-al:. ter t�zc ant
'--Inv' tilt.:vpi: _ rralr. iiotar:
Pivte% ca :w.;ne. rr.� i.
t� ic4 umve:si:•v Cr large ciI.
'High level lighting, audio-
�icua) winng�ood plumbing
"ilgh level lighting, TV circuits,
adequate plumbing
'high level lighting. audio-
visual wiring. good plumbing
Hot g chilled
xater (zoned)_
ttiarm & cool
au Izonedl
Hut & chilled
water izoned)
3 &19.93
654 45--
805.04
624.96
493.96
32).83--
799.77
S6.58
6?3
4.84
3.82
-----
6.19
$79,96
74.79
J8 06
4589
30.27
74.30
Average Face brick, met&) and glass, F►ts-t: o: C.•? wo.. ie: L.z;. and 'High level lighting. TV circuits, Warm & cool
_ limes one. architectural coacrett tinv. tiit - D►:a Mau Err:a-t adtguate piumbin air Izonedl
Basement Finished interior, good rF p� axons ., at :a; :itt. }irg! level lighting. Warm R coot
_ w'a:e:proufln nrt: asitesos adeouatE- plumbing air (zoned►
Mezzanine�Noi included Ftv n a rzi:1ort Mali iPv(-1 lih!i le In bld . cost
Lxcelltnt St c cial archttreturt. mr..a; inc: bt :pit::e:. cc ne::rg rat_ iilgh level iignting, audio- Hut & chilled
fias: fact- brici:, stonE.conc:ttt• un!ve:s:- o• ::vet :1 usual xi -Inc. good Plumbing water (zoned)
Good Farr bnci:, metal and gl2sa. i':i;ie: a &-waL rtr . a.;crstol. }ttgr. level lighting, audio- �i'arm & cool
hmesrant. archiuctu:a eonc:ea +'asca rpLer- (. s-..d ei vmual w__uinr. good _plu bing air (zoned)
Average u�cre 6rt:K. (k:tthSneA'i! bi(r�i Pi-;:e- a= er.7w;J. .inv. asaesios. }iigi. iece; ligh:ing. Package A.C.
___ mftbl and -glass. -omt Ina ;t'U!^tFox rlei^_cau:nuoC b.arich. bdeouate Dltlmbin
Low ctlst Bnr ., biocL•. tilt -up. bt.tit is t;:rc mastmr. iry r,Lz7:low••. Good hghang. Forced air
o:rer.:er.;euclr a:oeca; -ilE i_;ULO::ilt a(l'_•puate Diumbia
917.3- 4.i8
57.35
4
361.67 2.80
33.60
�Fa:co[ltn:
Spr_la: arc•hrecturt, t.tt:
rnt i,nrtyeni:-:, mezz; anc cim.
ices. DIG;:e:.:a tr=t:rig r,: r..
a: Dt^c un►tem,., a" L m clzi
Hlgr ie:el h0min€. audio-
visual Wtrinc. good plumbing_
Warm & cool
air (zoned
717.96
565.54
427 22
319.26
5.56
4.38
331
-
2.47
66.70
52.5;
39.69
29.66
Gould bract. ce:r_t':. rrie:E End gics Piir;:e• o- : !-wal. rr:' zstrE31o: Hign ievel hgh-mg. Warm &. cool
anc u:: antEr::�:;:,: nl:E. gu;lc u:::tcr, i :,:�^• UPC DIJRIDIn• air (zoned)
_-
`
-tr....,t- - i:,rt; -:nee. pcloe c:u::'t e• -� :r..hc_. Pro_ arts i r ra:: wt, Good ilgttiag. Package A.C.
_ sl'.n:' L+i:. nPCI ::'iri -•:):::. S'::i:: :•:.aCi 17:,:i;^• c
;Lott ;osl .=.:UL':'a• C): s,Clinr VUl; ^._. ..1'-: 'w i•.� cEI::._: ".1t:. ---' ^- - - -
yreou�tt bgh:mg and Forair
17
_�
•eF,J�:.ae.: •: t,2 V.'Inn!nM'c
;c:
556 63
4 4rS
•-
_C:::-c
:•i.a:i-+i.I T.�.•1�",.: U:t:l. tE... :'- :..'. a' '`E'er _
_., V. i isPackage A C.
S;,c:��t
ic'looe
c::C"r:)-: lcr1:5`:111 :)• _
,.:;: : .,. �: u^-• =`-:-
:t:i.ai t_arb;•r•: $rl`'! ;•"
L�~. ...-.....u..
1!'I
P r
-------
Forced air
448.75
3.4,
4_o
tl.{t r•'
it .. �..n:.. -, a ._ _ ___.__
':,_•':_, I^. ,.•1• _.
::
_ -�' _ �•____-___-___ __._._.-_�_-__--
: r- . < <:.._ .:1:.
Cit-+1
=,oecu�a hg'saag
an_, r,iurrarin!
Forced a,r
3. ; ,
^, .,r
�.Yn:'at=:,:
---
:..._i.•.: ...a'IU:IOCO:
--- _"- _ ------
•...
Warm E CJll
36544
vJ
�3
3 �JC_p
S
-
►.:( :u::
` . _
- u` s.... .. „ - - -- ----------
�': , ` :•;
�� =`=1r =r-:' ! - - - .-__--_
' t z i. r::u•:. ; OI -: ac
a0ta 8a rH'T`nhC,��__
i►gr. liter e'r.::rg
air Izonedl
-
In bldg cost
-
236 59
---
-
*ELEVATORS
.3c in: r:,; `.::on :•tt :.. _. i:,.ra �I.,yI,C.:c
al . _ . a: r: ',:�_ta:r:ea
building nr& i.ec w;: ar. asterisk (') include elevato: cusis. if none art-
fvanti lr, :ne e
QD
irui'dirrs, dt•cuc: ;bt following from the base eosin For bo:ld;: ..
^' :}a'..:d,,!
rust• true. Sec.lvn Si
Sq.M. Sq.Ft. Sq 41
Sq FCola.
a=r:lt;1. :�'�
Gout: . . . $16.15 SI.50 Average E 66i
S R•a
. .....ir ar.. :,. _;:........ `.r •r. S- :r.l•
;.
5cat•raer._a a:,d N"tz:krl.,es- add cost of addi,son.:.::;r: from: Sec:.,...
4�)�
W.P. rgp�+,yw invar•,. , s :Y .its y.- - - ' s I "iC°. -
q
M
CA
•
sEcr,uN i v:.,.r
CLASS OF CONSTRUCTION
11t of C ,r:stiuc•nun iN the basic subdivision in the Marshall Valuation Service, In each class, there will be variations, combinations, and sub -classes. hu: for put-
--!I bui!cl-Ir. i:u.. ]i,'e :.,sir c:.a {rcwp:l,% type of trrmine (suppnr.ing columns , ,ea of pricing, the major elements of the building sa:,uic ne considered ir.
•r .,se:(:ore
'lot,rnd iuoi structures, and fireproofing. costs from the tablesThusif a building which is o:herwtse in Clai E. has a wood or
Clams: " �., buildin�:-c have fire . , B
proofed structural steel frames with reinforced concrete
2Toon a :d roofs. steel truss roof, the costs for the Class B building may still be :epresenta:ive, or a Ciaw C
i.::s ' B hate reinforced concrete frames and concrete or masonry flours building may hate concrete plank floors. fn;erpolatiors rnaw be t :adt- if the aa;iraiser
nr' r•:,is feels the building overlaps two classes sufficiently o: the 5-mpstec Ctrs: sectu.rs :: zc
t ;,:\ t JJab1:,r5 ba.%e ni,,:onry or concrete eatenur ~calls, and wood of steel roof be used to modif-, the cost
:tic s:rue:urtrs. emeu; for concrete slab on grade.
(1a ••IY• b::dcings generally have wood frame, floor, and roof stricture. -rhey may
.car c C'OLT ele :`lour on grade and other %ubsti;ute inaterials, but is considered com-
FL.f:IIeI details and sketches o.-:he vari t-oriszru::fur. ;::.=5 wil: tie'QUnc ►r pages
a iiel:.es liar( L•:,n;es, roofs, and (calls of incombustible meal. This lass 6 through• 4 of :his section. as well i SettiOr- 51. whicc a..' 6e:minor_ aid sicetcnes of
1%.lu-'_> all :fie pry-err:aerred steel buildings. iramin�
CLASS OF CONSTRUCTION INDICATORS
`LASS
FRAME
FLOOR I
ROOF
WALLS
i
::uc[v:x. stce! columns and beams,
Concrete or concrete on steel deck.
Fu-med concrete, pre: : s:a _ --con- I
�iur•:��:r f cu-air. Ki_ , ^G9Vn .
A
f:ri;p:oofed wnf. m%sonn•. concrete,
fireproofed-
cre;e c,r a •psurr. or, s:_e! ce:-L. 1
con::e:t. -E:al anc as
plane:. or othe: incombustible Ma
( nrrprc•ufed. (
stone.
I
I'.c•inforced c•onc!e;e columns and
Concrete o: concrete on steel deck.
Former: concrete, pre -its; s:aos. con- �
?:vr.-uea:u-ig cv �atr. �t!s masorry.
B
brarrs. Fire•rusisiart construction.
fireproofed.
cm:e or gypsum or. s;r_: ce:i:. `
rJn::B:t. ^?:a ar.r _._t
fut•proo.`ec. i
start
i
'.:. .•:.i.s� ar c•:�:.cre;e loac•bta:►ng
Wood or c:•nr:t;e plank on steel
1�c.ciC or steel fuss t;•,:i. wood o: I
. O 1
rsrr_•i_.:ar,c:e:e uin:t: -Ir tic :T.2.ar:•
C �
•obis with or wla.Dvt pilaster.
floor fasts, or concrete slab on
� s;t-•: arch. Go..^.:rete olart:. i
r:.::i:-uc.::.::-iec r:--re:(.
1
::aocry ur concrete tc:.11s with
grade.
I
N;lt;•
1
:eel. wouc. or concrete frame.
i
i
,
j
d o: steel s:ads in bearing wall,
Wood of steel flout joists o: Von-
tt"('ad o: steel ia:su wla: aooc o:
1 '
?,imas: are materia..acep: m-:on-
D
wuud it; -me. primarily combustible
creie slab or. grade.
s;Vel deck.
n o: concrete. :t-neralh dirt :-
I
:os:ruc:i•..n.
busabie t•onB:ruttior•
Mt -:a) l'unts, columns. girders, pur•
Wood or steel deck on steel floor
� Steel o: woi,C c:-ci. (Jr. sloe' jars
hie:a star: or sancwi:i: panes.
S
sir.:, aoc tiro w:an fifep:x.tiag.
Juists, or concrete slab an grade
Gene:alir mv(imbtLr:,:,it.
•`
1
I
I
L]
K t I o1J�"'�ai• JF *W: � rlr r -.r,.y r e ;w.: , s 9.r¢h, I . , `_ t - : t. t 7� w . ., s7•;'r;+: .. ... � -- ..
Id�•��r �I/����+1 µµ�. �{yy y l yyjs� 'pp���y1�� I. f K t •-
.f,.A�R-�'Yk YT..._ 1FG�IT'•{t .•[;'. V.-niY''5�.yJ>:'.. r. .tt t�"\ �j�.. _ •'' _. j./ .. - - • .
j���l•?J/ll!!L �/Cllll�ll!!'lL �P/lllCe
CLASS OF CONSTRUCTION
l'i:c 0as of GAIAiucnon IS the basic subdivision In the Marshall Valuation Service.
ill budem", Ialt.rive basil c:.,i croups by type of framing (supporting columns
nd tn,:ins i. wall. flour and roof structures, and fireproofing.
Has. "A" buiWcues have fireproofed structural steel frames with reinforced concrete
.: mas4i :y :`loos .Ind routs.
' li•' b::dctnP!! ha%e reinforced concrete frames and concrete or masonry flours
:nd to:,fs
ni.tsonry or concrete exterior walls, and wood or steel roof
:tic `;.ro: :�::uc;un s, excem for concrete slab on grade.
('lass "fi•' b:;Ilcings generalh have wood frame, floor, and roof stricture. The} may
a.f ro :c:eu fioui on grade and other %ubstiiute materials, but is considered com-
,u_:i!.Ir curs: uc;lon.
t ;ems, buiidmc_ i:ace• frames, roofs, and wall of incombustible meal. This class
,:,: iucr: alp :ht pit-•erg.nve:ed steel buildings.
SEC IIUN i PAt.t t.
In each class• there will be variations, combinations. and subclasses. bu: for pur-
po,es of pricing, the major elements of the building shouid oe consicered ir. seieeurt
costs from the tables. Thus, if a building which is otherwise in Class E. has a wood or
steel truss roof, the costs for the Class 8 building may still be representative, or a Ciaw C
building may have concrete plank floors. Interpolations mav be macit• if tht- appraiser
feels the building overlaps two classes sufficiently or tag S:r*rgated :-us: iecucrs r: av
be used to modify the cost.
FL;nher details and sketches o: the i'anoV, construction t:'p_s will Ue'oune tr. Daces
6 through 4 of this section, as weLi as Secrior. 51. whicc ha., dd-inition_ and s�etcnes Of
framirt�
CLASS OF CONSTRUCTION INDICATORS
CLASS
FRAME
FLOOR (
ROOF `
WALLS
_Rructu:a: steel columns and beams,
Concrete or concrete or, steel deck. I
Formed concrete. pre:as: s;ass,_ cov• i
NoL•:,?a:!r cu-air tea'_. masonr; .
A i
::reptoo;c•d with masonry. concrete,
fireprooled.
Crete or gypsutr. or, si_e.' re-L.
:oncre:t. —.e:rl ant: -:as r.aneL.
Iplaster.
or other incombustible ma•
(
fireprc.ofed.
son_.
'
itr.a?.
IReinforced
c•onc:eie colurims and
Concrete o: concrete on steel deck.
Formed concrete, pre -as; s:aos. con- �
!cur.-tita mr. cu pair. wal!_. masor-n•.
6
bares. F:rt-resisic:rt construction.
firep:oo`ed,
cre:e or m-psum or. s; c=:i
cnn:re:t. meta. an: :._s :•nett!_,
!
f►reproo ed.
stint.
� I
or c:.:.cteit laic -bearing
Wood or cancre:e plank or. steel
Wood or steel suss w•.:i. wouc o:
bits::. :I: tilt :.riot
-witb ur wia.Dut pil�trrs.
flout foists. or concrete slab on
stet' drel:. Concrete r•i�r.i:.
I
i r .::1:•ut.:o: ,er c -rate. I a"r.
forte) or concre:e wAls with
grade.
i wall.
wood, or concrete frame.
I
j
l:oUd or steel s-.jds in bearing wall,
Wood or steel flue: jolts o: con-
Wood o: steel i:,isi: wl:i; wouc u:
?.imps; ar% r:ateria. _xrep: mi:-son.
1
is'c.od fr;true, primarily combustible
crete slab or. grade.
steel deck.
n o• concrete t+rnerally c•o; :-
D
Icoastruc;i'.,n.
I
hcstible c•ons:ructior.
ae:al beats. c•olurnps. girders, pur•
\1'uod or steel drel: on steel flour
steel, o: wou2 decl. or. sire' bass
Aie:al liar: or san:wich panels.
5
lint. and cir:� w::nn�l `irep::,uf!ng.
joists. or concrete slab on grade
I
Generali• inromnts;:uit.
:tic oa.is.:iale c ors:: ,ca;•r..
Ij
I
I
40
m
W 6:r
lost
72. AVERAGE CLASS C
73. AVERAGE CLASSC
75 AVFR:%GE CL—SS C
SUMMARY OF ILLUSTRATIONS
66 - 69. '1 hi,se (;(,,,d qa,!:i -. ,
Thex Vila, b, (its. couq:i -'_-
F..'lgv WIA. fine r•t J,
4-d 1.71.— k*,
pl,
I
W
ll�
TLT'
WWI
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