HomeMy WebLinkAboutCRA-R-19-0001 Appraisal ReportAPPRAISAL REPORT — VACANT PARCEL
LOCATED ON
WEST SIDE NW 1st AVE
BETWEEN NW 15TH ST. AND NW 14th ST.
MIAMI, FLORIDA 33136
AS OF
NOVENBER 9, 2018
PREPARED FOR
MR. ANTHONY F. BALZEBRE
ASSISTANT DIRECTOR, OMNI CRA
1401 N. MIAMI AVENUE, 2nd FLOOR
MIAMI, FL. 33136
The
URBAN
Group
REAL. ESTATE CONSULTANTS
The
URBAN
roup
12E11 ESTATE (O.:1'I TANTS
November 9, 2018
REAL ESTATE ADVISORS I PROGRAM MANAGERS I REAL ESTATE APPRAISALS
Mr. Anthony F. Balzebre
Assistant Director, OMNI CRA
1401 N Miami Avenue, 2nd Floor
Miami, Fl. 33136
Re: Vacant Land 1428 NW 1st Ave. Miami, Fl. 33136
Owner: MIA TOWNERS, LLC
3153 Percy St.
Miami, Fl. 33133
Folio Number: 01-3125-048-1720
Dear Mr. Balzebre:
Per your request, we have reviewed the above referenced property for the purpose of providing you
with an opinion of market value for the vacant parcel located at 1428 NW 1st Avenue in the City of
Miami, Florida. The subject contains 7,860 square feet of land area and is located on the west side of
NW 1st Avenue, between NW 15th Street. and NW 14th Street. We were not provided with a survey
and the land size was estimated by the appraiser and we assume the size is accurate. The property
is currently zoned "T4-R", Single Family, Multi -Family Residential. Based on our review of this
currently vacant property and location as well as our review of the surrounding land uses and zonings,
it is our opinion that the highest and best use of the site is for future residential development with
potential for assemblage.
The purpose of our analysis is to form an opinion of the market value of the fee simple ownership of
the subject property as of the effective date, November 6, 2018. The function of this report is for the
use by the client in the potential acquisition of the property by the CRA.
We have prepared the attached Appraisal Report, which contains a recapitulation of the data utilized
to form an opinion of the market value as of November 6, 2018. If any additional data is required,
please advise.
1424 South Andrews Avenue • Suite 200 • Fort Lauderdale • Florida 33316
Telephone: 954-522-6226 • Fax: 954-522-6422 • www: theurbangroup.com
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Page 2
Mr. Balzebre
November 9, 2018
REAL ESTATE ADVISORS I PROGRAM MANAGERS I REAL ESTATE APPRAISALS
Based upon our inspection of the property and market data analysis, it our opinion that the market
value of the property as of November 6, 2018 is as follows:
THREE HUNDRED NINETY-THREE THOUSAND DOLLARS
($393,000)
ASSUMPTION:
The appraiser has estimated the land size and we have assumed that this size is accurate.
Sincerely,
Robert D. Miller, ASA
State Certified General R.E. Appraiser No. RZ1270
1424 South Andrews Avenue • Suite 200 • Fort Lauderdale • Florida 33316
Telephone: 954-522-6226 • Fax: 954-522-6422 • www: theurbangroup.com
TABLE OF CONTENTS
Table of Contents 1
Summary of Salient Facts and Conclusions 2
Aerial and Sketch of the Subject Property 3
Definition of Market Value 5
Competency Provision 5
Purpose and Function of the Appraisal 5
Legal Description 5
Scope of Services 6
Marketing Period 6
Real Estate Tax Information 6
Property Description 7
Area Map 8
Neighborhood Description and Map 9
Zoning 11
Highest and Best Use 16
Appraisal Process 17
Market Approach 18
Reconciliation 46
Assumptions and Limiting Conditions 47
Certification 48
ADDENDUM
Photographs of the Subject Property
Subject Property Deed
Qualifications of the Appraiser
1
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SUMMARY OF SALIENT FACTS AND CONCLUSIONS
PROPERTY LOCATION:
Located on the west side of NW 1st Avenue, 106 feet south of
NW 15th Street in the City of Miami, Florida. Property has a
common street address of 1428 NW 1 St Avenue, Miami,
Florida.
OWNER'S NAME/ADDRESS: MIA TOWNERS, LLC
3153 Peachy Street
Miami, Florida 33133
INSPECTION DATES: November 6, 2018
SITE SIZE: 7,860 square feet
DIMENSIONS: Rectangular in shape — 67' X 124'
ZONING: T4-R, Single Family -Multi Family -Residential
PRESENT USE: Vacant Parcel
HIGHEST AND BEST USE: The highest and best use is for development with residential or
assemblage.
IMPROVEMENTS: Vacant Parcel
SALES HISTORY: The subject property was last transferred in May of 2013 for
$35,000 via OR Book 28623 Page 2481. A copy of the deed is
contained in the addenda. We are not aware of any leases that
exist, and the property is currently a vacant lot.
COST APPROACH:
INCOME APPROACH:
SALES COMPARISON
APPROACH TO VALUE:
DATE OF VALUE:
N/A
N/A
$393,000
November 6, 2018
2
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REAL ESTATE CONSULTANTS
AERIAL PHOTOGRAPH OF THE SUBJECT PROPERTY
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REAL ESTATE CONSULTANTS
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SKETCH OF SUBJECT PROPERTY
IRIS Map Printout
Locetioir FL - Dade County, Florida
Map Scale: 0.10 imam
Addroas: 1428 MW 1ST AVE MIAMI FL 33136
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REAL ESTATE CONSULTANTS
DEFINITION OF MARKET VALUE
Market value is defined in the 2016-2017 Edition of the Uniform Standards of Professional Practice
from regulations published by federal regulatory agencies pursuant to Title XI of the Financial
Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990 and
August 24, 1990 as follows:
The most probable price which a property should bring in a competitive and open market under all
conditions requisite to a fair sale, the buyer and seller, each acting prudently and knowledgeably, and
assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation
of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:
1. Buyer and seller are typically motivated;
2. Both parties are well informed or well advised, and acting in what they consider
their own best interests;
3. A reasonable time is allowed for exposure in the open market;
4. Payment is made in terms of cash in U.S. dollars or in terms of financial
arrangements comparable thereto, and;
5. The price represents the normal consideration for the property sold unaffected
by special or creative financing or sales concessions granted by anyone
associated with the sale.
COMPETENCY PROVISION
The appraiser has completed similar type appraisals of vacant land throughout the Broward County
area during his 35 years as a real estate appraiser in South Florida. As a result of these experiences,
the appraiser meets the competency provision of USPAP.
PURPOSE AND FUNCTION OF APPRAISAL
The purpose of the appraisal is to form an opinion of the market value of the fee simple interest of the
subject property with a land size of 7,860 square feet as of the effective date, November 6, 2018. The
function of this report is for the client's use in the potential acquisition of the property owned by MIA
TOWNERS, LLC.
LEGAL DESCRIPTION
Lot 5, Block 43, Waddells Addition to the Town Of Miami, According to the plat thereof as recorded
in Plat Book B, Page 53, Public Records of the Miami -Dade County, Florida.
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REAL ESTATE CONSULTANTS
SCOPE OF SERVICES
We have compiled all the necessary data in order to formulate an opinion of value. We have presented
the applicable data in this Appraisal Report format. Any additional supporting data can be found in
our working file. In preparing our report, we have reviewed and relied upon the following data.
1. Sales and listings of vacant land properties throughout the subject neighborhood and
Miami -Dade County over the past three years.
2. Review of public records for all pertinent sales data. Retrieved information from
LoopNet, CoStar Comps, IRIS, MLS and the Property Appraiser's Office.
3. Review and considered the sales history of the subject property and neighborhood.
4. Review of Miami -Dade and neighborhood trends.
5. Inspection of neighborhood and analysis of land use patterns and trends.
6. Inspection of subject property and comparable sales and verification of sales
information.
MARKETING PERIOD
Based upon review of the neighborhood and competing properties it is our opinion that the marketing
period for the subject property would be six to nine months.
REAL ESTATE TAX INFORMATION
Property I.D. 01-3125-048-1720
Year
Land
Just / Mark
Value
Assessed /
SOH Value
Tax
2018
$94,320
$94,320
$94,320
$1,896.55
2017
$94,302
$94,320
$94,320
$1,998.10
2016
$90,000
$90,000
$90,000
$1,964.31
All previous year taxes are paid.
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REAL ESTATE CONSULTANTS
PROPERTY DESCRIPTION
LOCATION:
OWNER'S NAME/ADDRESS:
INSPECTION DATES:
SITE SIZE:
DIMENSIONS:
ZONING:
PRESENT USE:
HIGHEST AND BEST USE:
SALES HISTORY:
Located on the west side of NW 1st Avenue, 106 feet south
NW 15th Street in the City of Miami, Florida.
MIA TOWNERS, LLC
3153 Peachy Street
Miami, Florida 33133
November 6, 2018
7,860 square feet
Rectangular shape- See sketch and aerial in the report. The site
is approximately 67 feet wide by 124 feet deep.
T4 R Single Family- Multi -Family Residential
Vacant Parcel
The highest and best use is for future residential or potential
assemblage.
The subject property was sold in May of 2013 for $35,000
when the current owner acquired the property. A copy of the
most recent deed is in the addendum.
IMPROVEMENTS: Vacant Parcel
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REAL ESTATE CONSULTANTS
AREA MAP
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REAI. ESTATE CONSULTANTS
NEIGHBORHOOD DESCRIPTION
The neighborhood is located in an area of Overtown generally described as being bound on the
west by the I-95 expressway, to the north by NW 20th Street, on the south by NW 8th Street with
the Florida East Coast Railway (FEC) and Miami Avenue to the East. This is an area in the
beginning stages of revitalization and generally comprised primarily of residential uses with
numerous vacant land parcels being readied for redevelopment. There are numerous small single
family residential and multi -story older residential walk up apartment complexes that are at or near
the end of their economic lives. This area is just north of the downtown Miami development area
and just north of the new Brightline Train station with numerous new developments on going to
the south and east of this neighborhood. Further, the area to the north is known as Wynwood and
that development is moving further south into the subject neighborhood. Based on the
development plans in the works and the availability of vacant land in close proximity to the
downtown and the Port of Miami as well as the expressway systems, it is very apparent that the
market will eventually develop these lands into some type of residential and or mixed -use
developments.
Although many properties throughout the neighborhood are older and show evidence of deferred
maintenance, there is some new development in the neighborhood. The OMNI Community
redevelopment Agency is providing some economic stimulus to the development of the area and
this will be beneficial to future success. The CRA has been actively purchasing property in the
subject neighborhood for the purpose of re -developing this area. Further, the I-395 Expressway is
being modified by the Florida Department of transportation and this has resulted in the demolition
and relocation of numerous business and residential uses. The area is in the stages of
redevelopment that has been initiated by the City of Overtown through the Community
Redevelopment Agency. It would appear that redevelopment should continue with the assistance
of the CRA.
In general, the neighborhood is an older well -established neighborhood with a strong supply of
business opportunities and affordable residential housing. Due to the convergence of several
highways and arterial roadways within or adjacent to the subject neighborhood,
transportation/access to the area is generally considered to be good. In summary, the subject
neighborhood is in the early stage of new growth and re -development activity. The long-term
outlook for the neighborhood is for the market to continue to strengthen as new development has
begun in the subject area and other areas of South Florida.
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REAL ESTATE CONSULTANTS
NEIGHBORHOOD MAP
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REAL ESTATE CONSULTANTS
FLOOD ZONE INFORMATION\
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FEMA Special Flwd Hazard Area: No
Map ?amber: 120861C8312L
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Map Date. September 11, 21110g
MPS: 121iNt6
Prepared for: The Urban Group, Inc
1428 MW ist Ave
Miami, FL 33136
nAreas inundated by 500.year flooding
Ar„..„$ inoridosnd try 101:110or flooding
nVelocity Iltazard
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REAL ESTATE CONSULTANTS
ZONING INFORMATION ON SUBJECT PROEPRTY
111Ta'2019
Clck lc Prht'nis Pagg
Miami 21 Zoning(Current):
Zone: °escrlpeon: Enactment: LU I
T4•R General Ub3n Zr'a 113114
Areas of Specific Designation: SC4
Section: DeaeAPNon: Enactment
City N M*ri 7.cninp AgoIns br
Existing Land Uso
Code: ; Description: Description:
'Vacant. Nan
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Nano
Special Area Planning:
Future Land Use
Property Information:
role:
0131250481720
(.117 AA.1rnss:
1.429 M4 ' AV
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142e M7' AVE
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3153 PEACHY ST
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Homestead Information:
Section: Description: 1 Enactment:
None
Established Setbacks:
Section:
Kole
Description:
Area: Sub:
FLU
Code:
Description:
Deeuiplion:
aneeleed:
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Alternate Addresses:
District Information:
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Section: Description Enactment:
NET Name
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REAL ESTATE CONSULTANTS
ZONING
The subject property is zoned "T4-R", General Urban Zone - Single Family — Multi -Family
Residential — District by the City of Miami under the Miami 21 land use development standards
A copy of the zoning code is on the next two pages and is taken from the City of Miami -Miami 221
Code of Ordinances.:
13
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REAL ESTATE CONSULTANTS
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i11
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REAI. ESTATE CONSULTANTS
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15
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REAL ESTATE CONSULTANTS
DEFINITION OF HIGHEST AND BEST USE
That reasonable and probable use that will support the highest and present value, as defined, as of
the effective date of the appraisal.
Alternatively, that use, from among reasonable, probable and legal alternative uses, found to be
physically possible, appropriately supported, financially feasible and which results in the highest
land value.
Implied within this definition is recognition of the contribution of that specific use to community
environment or to community development goals in addition to wealth maximization of individual
owners.
Also implied is that the determination of the highest and best use results from the appraiser's
judgment and analytical skill, i.e., that the use determined from the analysis represents an opinion,
not a fact to be found. In appraisal practice, the concept of highest and best use represents the
premise upon which value is based. In the context of probable selling price (Market Value), another
appropriate term to reflect highest and best use would be "most probable use". In the context of
investment value, an alternative term would be "most profitable use".
HIGHEST AND BEST USE
The subject consists of a 7,860-square foot parcel located on the west side of NW 1 Avenue between
NW 15th Street and NW 14th Street. The site is physically able to be constructed with a variety of
improvements from single family and multi -family to industrial and commercial. Some type of
residential use would be allowed under the zoning code with some alternate uses allowed by right or
special exception. The fmancially feasible use of the site would be for some type of single family and
multi -family residential development. The development with some type of townhome development
would allow for a more intense use than single family development and this was considered the
maximally productive use of the site. Although some assemblage to great a larger development parcel
would also be considered a potential use of the site. Based on the four criteria for the estimation of
the highest and best use, it is our opinion that the subject 7,860 square foot property would have a
highest and best use for future single or multi -family residential development or as part of an
assemblage to create a larger development parcel.
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REAL ESTATE CONSULTANTS
APPRAISAL PROCESS
In order to arrive at the market value for the property, special attention must be given to the typical
purchaser who might have an interest in a particular property. Market Value is the most probable
sales price, which a property will bring and this price depends upon the typical purchaser's reaction
to the various supply and demand factors that affect the market value.
The Appraisal Process is basically an economic analysis consisting of a review of the factors that affect
market value. There are three approaches to value to be considered in any appraisal, The Cost, Income
and Market Approaches. In this instance, the Cost and Income Approaches to Value will not be
considered, as the subject property is a vacant parcel of land. The Income Approach to Value will not
be considered due to the lack of available market data in support of a rental rate for vacant residential
lands. The Cost Approach to Value would not be applicable as the subject is vacant land.
The subject property consists of a 7,860 square foot parcel of vacant land. We have reviewed sales
with similar utility and potential uses in order to value the subject property.
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REAL ESTATE CONSULTANTS
MARKET APPROACH TO VALUE
Land Value — 7,860 square feet
The subject property consists of 7,860 square feet of vacant land. Therefore, the Market Approach to
Value will be considered as the most applicable method of valuation for the subject property. We
considered numerous sales over the past three years and have included the sales and analysis of the
more current sales deemed to be most applicable. The review of sales has led us to the market value
conclusion indicated in this report. These sales are considered in support of the subject's land value.
On the following pages, we will submit the comparable sales considered in our analysis followed by
a sales map, analysis and value conclusion. These sales have been confirmed with the parties involved
in each transaction and all were considered arm's length transactions. As noted on the sales
comparison map, all of the sales are located within .31 miles of the subject property.
18
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 1 - DATA SHEET
RECORDING DATA:
LOCATION OF SALE:
GRANTOR:
GRANTEE:
LEGAL DESCRIPTION:
County: Miami -Dade County
OR Book 30910 Pages 4534-4535
Folio number: 01-3136-009-0800
1305 NW 2nd Avenue
Miami, Florida 33136
Pacifico Holdings, LLC
Ovex Holdings, LLC
LEP International, LLC
Lot 9, Block 7, Alice Baldwin and Oxar Subdivision,
According to the plat therof as recorded in Plat Book
B Page 87, Public Records of Miani-Dade County,
Florida
DATE OF SALE: March 21, 2018
19
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 1 (CONTINUED)
SIZE: 5,000 square feet
CONSIDERATION: $330,000
FINANCING: Cash to seller
SALE PRICE PER SQ. FT: $60.00 per square foot of land area
TYPE OF INSTRUMENT: Warranty Deed
ZONING: T6-8L — Residential Single Family, Multifamily up
to 8 Stories
PRESENT USE:
CONDITIONS OF SALE:
ENCUMBRANCES:
VARIOUS ON -SITE UTILITIES:
COMMENTS:
Vacant land
Arm's-length
Restrictions, covenants, limitations and easement of
record. No apparent effect on sale price.
All utilities available to the site
Vacant fenced lot.
20
The
URBAN
Group
REAL ESTATE CONSULTANTS
1`.1'/.'(;•t V"
fttaltsd.mfJtnd team iQ
Loub Stinson, Jr
Attorney el Law
In•b Slims. Jr.. P.A.
110 Merrick Way Suite 3A
('oral Gables, FL 33134
305-144-8807
File Number. LEP Par 18
Will Call No
111111111111111111111111111111111111111111111
CFN 2O18RO177O01
OR tilt 30910 ►as 1934-653S (2181s)
RECORDED 03/26,2018 15121s53
DEED DOC TAX 61,800.00
9UtTAX s1r310.00
HARYEY RWIN, CLERK OF COURT
BTMI-040E COUNTY, FLORIDA
Spoor Above Tkr I.ws For Raserbaa Dail
Warranty Deed
This Warranty Deed made tint 21st day of March. 2014 bet.'ece Pacifico Holdtap LLC, • Florida 1J,.ited
Liability Company mad Om Hokimgs. Ilk., a Fkride Uwtted Liability Company whose post office address n 360
Greco Avenue, Suite 208, Coral Gables. FL 33116, grantor. and LEP Isternadosal LLC, a Florida Umited Ls•bNltt>
Company whose pat office address is 110 Merrick Way, Son a 3A, Coral Cables, FL 33134, grantee.
(wT,mv.r sort heron Or two., 'ffroaroe u! 'wore lastadr L' ase pours no ab iarrr.r.t all M W, 1qd ,g eeesr:.es. aid wove of
i.L1.d:s. and ifs oxv000 , and assxm of carpateas. sins ad crates)
Witnesseth, that said grantor. foe and in consideration of the sun: of TEN AND NO/100 DOLLARS ($10.00) ant Ghee
goad and valuable consideratnxu to said grantor in heed paid by sad grantee, the receipt whereof is hereby acknowledged,
has granted, bargained, and mold to the said grantee, mid gre:tee's beers and •ssiva forever, the fotbxing desentsed lend,
situate, lying end being in MlamI.Dade County. Florida tc-wst
Lot 9, Block 7, Alice Raid.= and Our Sabdiviwoa, according to the plat thereof as recorded lea Plot
Beek B, Page 57, Public Records of MIou I -Dade Comity. Florida.
Pared Idemtlfcatlee Needier 01-3136-009-0000
Together with all 01e tenereens. hacdnxrcncs and appurtenances thereto bciongiag or in amw,.x appertaining.
'ro }lave and to Hold. the same in fee simple forever
And the grantor busby covenants witk said Ranier that the grantor u lawfully seized of said lend in fee simple. that he
grantor has good right and lawful authority to sell and convey mid land. that the pastor hereby fully warrants the title so said
land and will defend the same against the lawful claims of an persons whomsoever. and that said land is free of all
encumbrances, except taxes acatwgt suboaluent to Desambet 31. 2017.
In Witness Whereof. grantor has hereunto set granter's kind and semi the day and year first above trines
Book30910/Page4534 CFN#20180177001
21
Doe biongi ae
2
Page 1 012
The
URBAN
Group
REAL ESTATE CONSULTANTS
I Qn r: C t a Vern Dade Oorial Records - Pere Doc '-sen!
OR SK 30910 PG 4! 35
LAST PAGE
Signed, sealed and delivered m our presence:
State of Plaids
County of Miami -Dade
The foregoing instrsmct ores adurowledged berme sae this 21x day of March 20111 by Ralph Defrortrn. Manager of
Pacifico Holdkfgs LLC. a corporation. on behalf of boll corporation Neosho U is principally Imams to ins or (X1 has
produced a driver's license as identification. -�
If(+'y Sall
warery Lwf - Prgr 2
Votary
Primed Nano:
l_ f AZia.
My Comnaaioc Exaser
Book30910/Page4535 /001
22
Raaitr
Page 2 of 2
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 2 - DATA SHEET
RECORDING DATA:
LOCATION OF SALE:
GRANTOR:
GRANTEE:
County: Miami Dade
OR Book 30510 Pages 1560-1562
Folio numbers: 01-3136-009-2030
01-3136-009-2040
01-3136-009-2060
01-3136-009-2060
175 NW 11th Terrace
Miami, Florida 33136
St. John Institutional Missionary Baptist Church, Inc.
1117 NW 3" Avenue, LLC
23
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 2 (CONTINUED)
LEGAL DESCRIPTION:
Parcel 1:
Lot 4, Block 21, Less the East 5 feet, of Amended
Plat of Baldwin and Oxar's, according to the Plat
thereof, as recorded in Plat Book B, Page 87, of the
Public Records of Miami -Dade County, Florida.
Parcel 2:
Lots 7, 8 AND 9, Block 21, of Alice Baldwins
Subdivision, according to the Plat thereof, as
recorded in Plat Book B, Page 87, of the Public
Records of Miami -Dade County, Florida.
Parcel 3:
Lot 5, Block 21, Baldwin and Oxar's Subdivision,
according to the Plat thereof, as recorded in Plat
Book B, Page 87, of the Public Records of Miami -
Dade County, Florida.
Parcel 4:
Lot Six(6), Block Twenty-one (21), Baldwin and
Oxar's Subdivision of part of Lot 2 in Section 36,
Township 53 South, Range 41 East, according to the
map of plat thereof as recorded in Plat Book B Page
87 in the Public Records of Miami -Dade County,
Florida.
Reference, Warranty Deed attached
DATE OF SALE: April 21, 2017
SIZE: 29,500 square feet
CONSIDERATION: $1,500,000
FINANCING: Cash to seller
SALE PRICE PER SQ FT: $50.85 per square foot of land area
TYPE OF INSTRUMENT: Special Warranty Deed
ZONING: T5-L Single Family, Multifamily, Limited
Commercial
PRESENT USE: Vacant land
24
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 2 (CONTINUED)
CONDITIONS OF SALE:
ENCUMBRANCES:
VARIOUS ON -SITE UTILITIES:
COMMENTS:
Arm's-length
Restrictions, covenants, limitations and easement of
record. No apparent effect on sale price.
All utilities available to the site
Vacant lot consisting of 4 parcels combined into one
sale with frontage on multiple streets.
25
The
URBAN
Group
REAL ESTATE CONSULTANTS
r ernl1tl
Prepared by aid ,stints to:
Adam M. 7,vrcc►a. Eaq.
Aketnan 1 IP
9t SE 74 St., 11a Floor
Miami. Florida 3)131
'pax Fo'ao vnba(t}• 01-313640940)0-.
01.3136-009-20K0;
0! 3136009-2030;
01-i 136009.2060.
Nami•oaee Official Records • Pratt fon mend
111111111111111111111111111111111111111111111
CFN 2017R0234647
OR IC 30510 Pis 1560-1562 (3Pss)
RECORDED 04/26/2017 11103140
PEED OOC TAX 412400.00
SURTAX $9400.00
MARKT RUM, CLERIC OF COURT
MIMM1-0ADE COUNTY, FLORIDA
SPECIAL WARRANTY DEED
THIS SPECIAL WARRANTY DEED is made as of April 21, 2017 by ST. JOHN
INSTITUTIONAL MISSIONARY BAPTIST CHURCH. LY(', a Florida no for profit corporation
C't if...Amiga whose mailing address is 1323 N.W. 34 Ave... Miami. Honda 33136, in favor of 1117 NW
3RD AVENUE, LLC. a Honda limited liability caepany Mange"). whose mailing address is 301
West 41"Street, V406, Miami Reach. Florida 13140.
WIINESSEIl
Grants, for and in cop sideration of the sum of Ten and No/100 Dollars ($10.00) and other good
and valuable consideration to it in hand paid by Grantee. the receipt and sufficiency of which it hereby
acknowledged, does hereby giant, bargain sod sell to Grantee, and Grantee's successors and assign.
former, the following real property lying sad being in the County of Miaani•Dade, State of Florida (the
SEE IXIIIDIT A ATTACHED HERETO AND INCORPORATED HEREIN
S(IBJECT, HOWEVER. TO THE. FOLLOWING:
I. Taxes for the year 2017 and thereafter. not yet due and payable;
2. Zoning and other regulatory laws and ordinances, prohibitions and other requirements
imposed by governmental authority. and
3. Those certain restrictions, reservations, covenants, conditions, limitations and easements
of record, without reimposition of the same to the extent any of the foregoing have beat
released. expired. or arc in anyway or wise no longer legally enforceable.
I (.x.E THER WITH all the tenements. hercdittments. and appurtenances thereto belonging or in
anywise appertaining.
TO HAT AND TO HOLD the above dcscnbed Property m fee simple forever
ANT) Grantor hereby wanants the title to said Prvw.ty and will defend the same against the
lawful Claims of any potions claiming by. through or under the said Grano. but mute „(here.
01311324cl)
1 Signature on following page.]
26
The
URBAN
Group
REAL ESTATE CONSULTANTS
I t ro 0' a Mwn—Osae offal Record* - Pint Document
•
IN WITNESS WHFREAF. the undcrsigmcd has executed this Special Warranty Deed as of the
date first above written.
WITNESSED BY:
:/ V vL`Z54`
Name: Miter. Za ss ••�
GRANTOR
ST. JOIW INSIT7UT1ONAL MISSIONARY
BAPTIST CHURCH, INC , a Florida not for profs
corporation
STATE OF FLORIDA
COUNTY OF MIAMI•DADE
The foregoing instrunsent was acinoeilaltoi before me this al day of April. 2017. by Bishop Jams D.
Adams. xi Presidalt of ST. JOIN LIST] IL TIONAL MISSIONARY BAPTIST CHURCH. INC.. a Florida
not f rocs caponaion. on behalf of said cotpuntiao. wow is personalty known to me or woo has produced
>c�Y J L LV-s O Li - as ideenficatice.
t commit
L ACrn
..c .. :Oetu on / S617iS(
{ bow Atpat 1, 20
i q swaps Tn, Am' l Iiry
hg1112411
Notary Public
Print Name:
My Commission ExpaeC:
Book30510/Page1561 CFN#20170234647 Page 2 of 3
....-.. ...... i ---- . rn....l3•410.0•IL iliflvf 110n arnarf7YI1.40..779t*LIN. 41rfi M.N. Jtfe
27
The
URBAN
Group
REAL ESTATE CONSULTANTS
1 11[.t: H
(41V15:6.1)
AfarniOads Orioal Rawrds Pnt Dormant
OR BK 30510 PG 1562
LAST PAGE
EXHIBIT A TO SPECIAL WARRANTY DEED
LEGAL DESCRIPTION or THE PROPERTY
Parcel 1:
Lot 4, Block 21, less the East 5 fed, of AMENDED PLAT OF BALDWIN
AND OXAR'S, according to the Plat thrroof as recorded in Plat Book B,
Page 87, of the Public Rereads of Morn -Dade Canty, I lortda.
Parcel 2:
lob 7. 8 and 9, Block 21, of ALICE BALDWIN'S SUBDIVISION, according
to the Plat thereof, as recorded in Plat Book 8, Page 87, of the Pubic
Records of t. am -Dade County, F oada.
Parcel 3:
Lot 5, Block 21, BALDWIN AND OXAR SUBDIVISION, accacery to the
Plat thereof, as rrco^ded n Plat Book 8, Page 87, of the Public Records
of Miami Dade County, Fbrlda.
Parcel 4:
Lot Six (6), 8bck Tlrrentyone (21). BALDWIN AND OXAR S& union of
a part of Lot 2 In SeWon 36, Township 53 South, Range 41 East,
according to the map or pat thereof as recorded in Plat Book B, Page(s)
87 in the Public Rereads d Mlemt-Dade County, Florida.
Less the following described propaty appropriated to the Oty of Miami
by Final Judgment feed March 6, 1930, recorded in the Csrait Coat
Minute Book 47, Page 3 of the Public Records of Miami -Dale County,
Florida.
Bogeying at the Southeast caner of Lot 6, Block 21, AUCE BALDWIN.
JENNY M. OSBAN AND CIIAS 8. OXAR MINDED ./BDIVISION, as
recorded in Plat Book 8, Page 87, in the Pubic Records of Miami -Dade
County, Florida: thence West along the South We of said Lot 6 a
distance of severity four and seventy three one -hundredths (74.73) feet,
more or less; thence Northeasterly along the arc of a tangential curve to
the left havr+g a radius of 69.5 feet and central angle of 74'S1'38", a
c lstanoe of 90.81 feet, mere or less, to the North tree of said lot 6,
thence Last along the North Inc of said Lot 6 a distance d 7.47 feet,
more or Tess, to the Northeast corner of said Lot 6; thence South along
the East line of said Lot 6 a dstence of 51.35 feet, more or less, to the
pant of beginning.
Book30510iPage1562 CFN#20170234647
28
Page 3 of 3
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 3 - DATA SHEET
RECORDING DATA:
LOCATION OF SALE:
GRANTOR:
GRANTEE:
LEGAL DESCRIPTION:
County: Miami -Dade
OR Book 30514 Page 1542
Folio numbers: 01-3136-029-0340
01-3136-029-0350
1737 & 1729 NW 3rd Avenue
Miami, Florida 33136
Charles Lowell Realty Investment and
Development, LLC
Magna PMC, LLC
Lots 32 and 33 of Subdivision of Lot 3 and 4, Block
17, of Erickson's Addition to The City of Miami,
according to the Plat thereof, as recorded in Plat Book
"B", Page 156, of the Public Records of Miami -Dade
County, Fl.
29
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 3 (CONTINUED)
DATE OF SALE: April 10, 2017
SIZE: 13,153 square feet of uplands
CONSIDERATION: $558,500
FINANCING: Cash to seller
SALE PRICE PER SQ FT: $42.46 per square foot of land area
TYPE OF INSTRUMENT: Special Warranty Deed
ZONING: T3-Open — Single Family — Duplex
PRESENT USE: Improved with older three-story multifamily building
in very poor condition and a vacant lot.
CONDITIONS OF SALE: Arm's-length
ENCUMBRANCES: Restrictions, covenants, limitations and easement of
record. No apparent effect on sale price.
VARIOUS ON -SITE UTILITIES: All utilities available to the site
COMMENTS:
The parcel 01-3136-029-340 is improved with a
5,547 Sq. Ft. building which is being totally
remodeled. Some value of improvements included in
the sale price.
30
The
URBAN
Group
REAL ESTATE CONSULTANTS
MtarntDade CM:sal Records - Nmt Docvnont
Presered by and rebate to:
Adam M. /,we.'ker, Fan.
Akers an LLP
96 SET' St, 11" Floor
Muamt. Florida 13I31
111111111111111111111111111111111111111111111
CVN 20171R0234647
OR RR 30510 Pas 1560-1562 (Pas)
RECORDED 04/26/2017 11103140
OEEO OOC VAX $121000.00
SURTAX 641000.00
WIPIFY RNVIN. CLERK Of COURT
f11M1-OADE COUNTY. FLORIDA
1-ac 1-050 Nurclw(s): 01.3136009-2030.
0I-3t36.009.2040
01-3136.009.2050.
C I.3136 009-1060
SP 1 IAARRANTY DEEP
THIS SPECIAL WARRANTY DEED is nude as of April 21, 2017 by ST. JOHN
INSTITUTIONAL MISSIONARY BAPTIST CBUR(HI. INC., a Florida not for profit corporation
('rag'). whose mailing address is 132S N.W. 3'r Ave . Miami. Florida 33136, in favor of 1117 NW
3RD AVIRYUE, LLC. a Florida limited liability company ('handle'), whose mailing address is 301
West 41' Street, 0406, Mirni Beach, Florida 33140.
WITNESSETIL
Grantor, for and in consideration of the sum area and No/100 Dollars (S10.00) and other good
and valuabk consideration to it in hand paid by Grantee. the receipt and sufficiency of which is hereby
acknowledged. does hereby grant, bargain and sell to Grantee. and Grantee's successors and assigns.
forever, the following real property lying and being in the County of Miami -Dade, State of Florda (Idle
'PIY"):
MEE £XIIIBIT A ATTACHED HERETO AND INCORPORATED HEREIN
SUBJECT, HOWEVER, TO THE FOLLOWING:
I . Taxes Inc the year 2017 and thereafter, not yet due and payable.
2. Toning and other regulatory Taws and ordinances. prohibitions and other requirements
imposed by trpvernmcntal authority, and
3. Thom certain restrictions, reservations, ccwcnants, conditions, limitations and easements
of record, without reimposition of the same to the extent any of the foregoing have beers
released, expired. or are in anyway or win no longer Legally enforceable.
10 6ETI IE12 WTTH all the tenements. hereditament'. and appurtenances thereto belonging oc in
anywise appertaining.
'1 O HAVE AND TO HOLD the above described Property in fee simple forever.
AND Grantor hereby warrants the title to said Property and will defend the same against the
lawful claims of any persons claiming by. through or under the said Grantor. but none others.
[Signature on following page 1
31
The
URBAN
Group
REAL ESTATE CONSULTANTS
1+.h(?018 Ifurru-0ade Of6cr1 Raconb • Arra Docuraced
IN WrrNFSS WHEREOF, the undersisped has executed this Special Warrants Deed as of the
date first above written
WITNESSED BY:
1 w
Nam t
Name
STATE OF FLORIDA
GRANTS*:
ST. JOFPI INSTITU flONAL MISSIONARY
BAPTIST CHURCH. INC., a Florida not for profit
corporation
COUNTY OF MIAMLDADE
the foregoing iast um:f t was acknowledged before me the a I day of April 2017. by Bishop lama D.
Adams, as President of ST. JOIN INSTTTITIONAL MISSIONARY BAPTIST CHI ►RC I. ENC.. a Florida
not [fix profit ion. on behalf of said corporation. who is personally knowre to ZOO Of .bo has produced
J ()rs Li • * u identification_
t4157,1N.t)
Lot' l Mains
Cattttttiraa / G677254
East kiptsa I.2c2o
kntsd In Ana tort
Prust N Public
LDr
1'rnt Name:
My Coeur' fission Ezpirm
Book30510/Pago1561 CFN#20170234647 Page 2 of 3
hapaltaww2miartsdadodortccor/()Kirs,SRrxnethAiiraDoa.1* rX)S-VaoLJOmoy28309%2t10XCOPUTW221NG9M77P1%2bhtar(GZAalpo... 2i3
32
The
URBAN
Group
REAL ESTATE CONSULTANTS
t t ra72018
(� 132 u2411
won, -Orel. (Mold Recce* • Part Document
OR BK 30510 PG 1562
LAST PAGE
EXH111f 1 A TO SPf[1A1, WARRANTY DEED
I F('AL DLSCXJYTION OF TiifFROPERTY
Parcel 1:
Lot 4, Block 21, less the East 5 feet, of AMENDED PLAT OF BALDWIN
AND OXARS, according to the Plat thereof as recorded in Plat Book B,
Page 87, of the Public Records of Miami -Dade County, Florida.
Parcel 2:
Lots 7, 8 and 9, Block 21, of ALICE BALDWINS SUBDIVISION, a000rdlrtg
to the Ptat thereof, as recorded in Pfat Book 8, Page 87, of the Pubic
Records of Miami Dade County, Florida.
Parcel 3:
Lot 5, Block 21, BALDWIN AND OXAR SUBDIVISION, aetnning to the
Peat thereof, as recorded in Plat Bolt B, Page 87, of the Pubic Records
of Mlanv-Dade County, Florida.
Parcel 4:
Lot Six (6). Block Twenty-one (21), BALDWIN AtD OXAR Su16vlsbn of
a part of lot 2 In Section 36, Towrshap 53 South, Range 41 Cast
according to the map or plat thereof as recorded in Plat Book B, Page(s)
87 in the PuDl c Records ol Mami-Dade County, Fbrtda.
Less the following dewibed property appropriated to the City of Marra
by Nowt Judgment feted Marsha 6. 1930, recorded In the Uwe Court
Minute Book 47, Page 3 of the Public Records of MarnECrade County,
Florida.
beginning at the Southeast owner of lot 6, Block 21, ALICE BALDWIN,
JENNY M OSBAN AND 01AS B. OXAR AMENDED SUBDIVISION, as
recorded In Peat Book 8, Page 87, In the Pubic Records of Mine -Dade
County, Florida; thence West along the South line of said Lot 6 a
distance of seventy four and serene/ three ene-hundredths (74.73) feet,
more or less; thence Northesstiaty along the arc of a tangential nave to
the left hawg a racks a 69.5 feet and central angle of 74'5138', a
distance of 90.81 feet, more or Jess, to the North Nee d said Lot 6,
thence Fast along the North lase of said lot 6 a dstanoi et 7.47 feet,
more or less, to the Northeast corner of said Lot 6; thence South atorg
the East Inc of said Lot 6 a dstance of 5135 feet, more or test to the
point of bege nrng.
Book30510/Pago1562 CFN#20170234647
Page 3 of 3
htU^n )Awwrr7 mi7m {farlwiaot rmK)lferalRecordslRntWaxnx t YaolitOntry2133CIPUITW77ARWiv77100 3t3
33
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 4 - DATA SHEET
RECORDING DATA:
LOCATION OF SALE:
GRANTOR:
GRANTEE: Washington Heights, LLC
County: Miami -Dade County
OR Book 30885 Page 2669
Folio number: 01-3136-021-1760
222 NW 17th Street
Miami, Florida 333136
Lee Investors Group, LLC
LEGAL DESCRIPTION: Lot 6, Block 13, of Amended Plat of Erickson's
Addition, according to the plat thereof, as recorded in
Plat Book B, Page 88, of the Public Records of
Miami -Dade County, Florida.
DATE OF SALE: March 1, 2018
34
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 4 (CONTINUED)
SIZE: 5,250 square feet
CONSIDERATION: $108,000
FINANCING: Cash to seller
SALE PRICE PER SQ FT: $20.57 per square foot of land area
TYPE OF INSTRUMENT: Statutory Warranty Deed
ZONING: T5-L, Residential/Medium Retail
PRESENT USE: Vacant land
CONDITIONS OF SALE: Arm's-length
ENCUMBRANCES:
VARIOUS ON -SITE UTILITIES:
COMMENTS:
Restrictions, covenants, limitations and easement of
record. No apparent effect on sale price.
All utilities available to the site
Vacant site cluttered with garbage
35
The
URBAN
Group
REAL ESTATE CONSULTANTS
•
•
STATUTORY WARRANTY DEED
1111111111111311111111111111111111111011111
low w.erw.ent step •1 bp .n. ..woe s.
M. rah. O'/
. ,e•.. PA.
I411 NW w A. t..a. e01
Irmo, INndo )IIN
needed A/.rrtwl Ban-.! I—..---_ Mew.'
el-S11e-1171.1 yM
C F-- NI 1 C) i 1SR O 1 :i'14 S A
OR Ell 301115 P. 2667 c 11.. )
RECORDED 03/07/201S 01r55137
MEG OOC TAR 6644.00
!:U•7AA 7+e6.00
I/ARVII1 *WIN. CLERK a tig♦tT
nfMI-OAP- COMM • • 1.1001DA
STATUTORY W RRANTY DEED
THIS ,NDENTTIRF, made tilts I day of Meech. 2015, bKw,en Ewe lavestors Gramp E.I.C. • /bride
Ilareed lea tinily company. oh.. pent 0Mae •ikm ie 10421 NW 2I Anse. 1 t-1 10. M:reni, Florida 11172. torero tier
ceded Sr warner, and W.Ahmgte• I4etehb LLC. a /E•rW M4w.d 1•mNlesy .e'mp.ay. wham poet .office •doges* Is
260 NE IT' Tenor.. Suer 204, Miami, ►lot:de 1)1)2. Itaeert.tkr ctl).d the gram
WITNESS/CT/II:
THA7,T•psnt.,.forand Incoauateratlonorder ran oftrNAe•a00r100tT.IAAA (11000)sodagar volu be•
wmaa4...1 km n. wJ gram., 1n !!end paid by seed venom. die r.cept te6.reof le hereby ackratoledged. wawu. !.•pert.
sous. aliens. remise**, release,, army* neat conh..rt uator do mid pert, dirt heeds and amigos Io.c.ee. AU erg certain
had situate in Miarw.-D•d. Cosxy. FY:rids. legaUy described m fotfomirc
Lot J. Demo 13.A..e.dcd ,tat oft. toe..... AddIUMm, acemanShis NI . plot eber..f, m ewnarMd
In roe Root. R. Tap Ad, of Ike reMk lemmrd. of MI.a1-DM. Comedy. Placer
SUBJECT TO McGt::nu. reUx•et.ens, caec.r.A.t•, I.•ra.om neat rsee ordinances of record, if may. not
Yarding to neat ore same.
TO(JLTNIiR with AU the ler.e.tv..., Aereditarreott ...) etppetce.ance. 00 ..t., twkasalwe or to se yvW
appectiam ing,
TO HAVE AND TO HOLD. the same in fee saepbe forever.
AND the op -antra hare, ?taffy warram the title v. r.i.l Iand, end will defend are ewe .prat dot t..1 1 o 1.i.w.
titan f•r4011a wlwemtwver, srrd tree said lend n free o! eta re...as r.Med. ,.cope laam accruing 6 . q...nt to Drea nber
31. 2017.
IN WJTNESS Wl7FREOF, tFr grantor hey )terwn dot paotc.e bend and mei the dry rad writ GPI •ro w
written
C)gw..( snood .u./ Mlrv.r.d 11 War preaor
SS:
COLRRY OF MiAMI-T)AfE
LAA: INNalon Gums LLC. A R.Oesa.t L314CTSa•
IIA•n.rTY ANY
D. Comire. Mao•glo g Member
The forearms krm.wett wee w a..,wle.lpd Wont ma 0... L Say or Mena.. 20IS. Leda* D. CA.a.,
Mammies Member u( Lam. Vie gIu►aA:tataw .) Magd• Mardis .t.d Wrathy ewmpoay. sotto • peesona)ty ammo to
i me of km produced VSoil C( i.. '-1m .MnNbc.tsoe and dad tried moo) uka no orb
hr. Nana_
C°nal11V00 Leerier
NO fAItY SFA:-
My Commission Expires
Book3O8R5/Pege2669 CFN1M20180132456
36
Page 1d1
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 5
RECORDING DATA:
LOCATION OF SALE:
GRANTOR:
GRANTEE:
LEGAL DESCRIPTION:
- DATA SHEET
County: Miami -Dade County
RO Book 30825 Page 3328
Folio number: 01-3125-048-1100
155 NW 17th Street
Miami, Florida 33136
Marland Curtis Johnson
Anthony D. Johnson
Andrew & Gizella Proulx
The West 50 feet of Lot 13, Block 27, of Waddells
Addition to the City of Miami, a subdivision
according to the plat thereof recorded at Plat Book B,
Page 53, in the Public Records of Miami -Dade
County, Florida.
DATE OF SALE: January 5, 2018
37
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 5 (CONTINUED)
SIZE: 3,360 square feet
CONSIDERATION: $126,000
FINANCING: Cash to seller
SALE PRICE PER SQ FT: $37.50 per square foot of land area
TYPE OF INSTRUMENT: Warranty Deed
ZONING: T3-O — Single -Multifamily Residential
PRESENT USE: Vacant land
CONDITIONS OF SALE: Arm's-length
ENCUMBRANCES: Restrictions, covenants, limitations and easement of
record. No apparent effect on sale price.
VARIOUS ON -SITE UTILITIES:
COMMENTS:
All utilities available to the site
Vacant fenced lot
38
The
URBAN
Group
REAL ESTATE CONSULTANTS
11/W2O16
WARRANTY DEED
Maori -Dodo € 11kaal Records - Print ?vczmmnl
Glcriatkcc £a iius
Adrti'itrura Tido Sieta 1 LLl=
1535 Thrsa Ylliaase Res
1L'ea G 11 33'
Botha hi'
Ti5orachirZooF'1'iP'.. Soro*Io LLC
Christine Zemsllae
1533 Titean VIEInge Road.
Weston.FL 33326,
inefds nne, the issuance era ItJn hie -Lanza eetemi4za t,
1"11RNaaihe:7. 104 y457
GlcesldrsuliPI : $126,00C.00
CFN: 201 E0023320 EK OK X1625 PAGE 3328 -
RATE01111.2016 120214 PIM
DEED DOC 756.00
$tl.ltITA.% SOT 00
FIARVEY- RUYIN, CLEW OF ODIJo r, OM-DADE en'
(*mee Above Thla Line Far $e¢rdfa6 Doti)
'Warrant, deed
Ibis Waeranig filed n 11 51
-cflp a1 Seaaay, 2010, T1 Marfaad Coeds Inkelasysellairla tows old A:$ogy D.
Johnson, a shwa man *sate post a tm otecess is 2090D J74 1li43, APT BM 77497r inoboomisl,. TX 11407 groats, to
As,draa kende and C.hella Praafr, habind wire 'Mica past aaca addrasa 513=1 TOT gelid, li:mm.4 I 1i.
3.3420, lino
(9F'hoenyw used hem the terms 'grimed mad '`rains` S ehi4 111 Me prize to ids hosmaorl seed Tte be7r!, 'e;lsj
rntiire- nlbivns, m:l assigns or kJ riduats. and be axcatms and ei3 gn deft-eadoos, turn and trgrOr s)
WUnwsaih, that !o d pester, £t' end fit Me draillen ship IMP af'TENAND NCllO0 DOLLL AR* ;216. Cit3 souther woe
and +idaib 0.naldar1 knd fa} add VW= illistxd
per, h�ny1 etik rent; din mad* w yf t EQeby idmOvi+,;r,:, hai
g�n,a,6ts,, begot...xi, saki !o [he maid widow, id g-.nrJ hits it id assigns
, Lz ihrf REc iiam1�'.d :l» sd, y
Y`� aild tdrig in the)ofianR-Dade Cauatg+ Tr1da, td-0P)C
The Weet'S0Yen!of/AA 13,)34 27,atWtUD0.1AAD TOT11E.iN1Yfl MIAMj,amlwnane
no ji g le he pia ikaa Te meded a nit Beet B, Pik }a, dm PCN14 Oa" o" h rli-Dot ems.
11',
A,areel L. dtlfw.ilou MN:6tr. U1-3125-01-11DO
Topthtr whhall itunmerds, le+aiI ocietale u1 epP.u'fnruea U ernin •d"o '-,F a iatq}s.isc esrperint.
1'a Haas amain Tda}k the era c s hs tllmiple f toter.
And 1ha pinky boom' cGst atin wit !fit germs dig tic metro[ R 1=1E07 seaold of odd kiwi 1C fie sups; ibt cis
pi itcv has COI c`,Fic a'd lawPil sakri to Neil old c4Qsry3;ad ; *aim radar teri
lavl AEA Ws dkFri, tf�o arms egaiosf Eho Wok] c1 rit aG ram oil leait Eras
aA,usub. a+.cad. cumpl tux/ BF therm of alai * eat saheameete5sedea, keel ImN. mices Aoe3S cc reeeets Nod anon a
arreeee, ear*.
itlFpa://wont intarol-0adeclesk.tornfOlkieRcwrcJstPtirtOocomemos,&OS.YaalN4sary12Jf9•RygTLItill% Y NXIFsmadSekinkrUIL_- 1
39
The
URBAN
Group
REAL ESTATE CONSULTANTS
rt9,201t] Mimri-0-edeOfTc1 Rears-.1nt11e;,.+reik
GPM: 20180023329 BOOK 3CLB25 PACE 3329
To W41nes W1ereod, gramla; has here=ta set greeter 19Aud and acatL to day aza yen Th t above, *Web.
L9eli et+>d a eta peemenr:
ea\s.lr,J.
Mgmelurec
Friarrere lr ww+
Stare& 1 (.S.
Cooley of
The f l:cdrel treromeetvni adirrgmledgerl b+:ac'o ms tt:a the of FawYCaey . 20Id, by!dulaadi CC r JJ
wart! Atethon D •,Jobnene, d'iey ( i ere pea3capLy Jw, .0 me or f. 9 Iwo produced ty
tdsatt4eorsas.
heiredNowet2,RlartY-ciatlankte c.ramk]ililcialRer,Err wPrertEloaumu fixece 7QSeYseaUfaccrOVP41F'SqT1.111211G2t6w�bbJlSj6Hkl CEtae9V5CXxWZLbe. 2/2
40
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 6- DATA SHEET
RECORDING DATA:
LOCATION OF SALE:
GRANTOR:
GRANTEE: David OM, LLC
County: Miami -Dade County
OR Book 30704 Page 2980
Folio number: 01-3136-037-0470
211 NW 12th Street
Miami, Florida 33136
DM Overhold, LLC
LEGAL DESCRIPTION: Lot 213, Block 9, Sost's Subdivision, according to
the plat thereof as recorded in Plat Book B, Page 27,
Public Records of Miami -Dade County, Florida.
DATE OF SALE: October 2, 2017
41
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 6 (CONTINUED)
SIZE: 7,500 square feet
CONSIDERATION: $500,000
FINANCING: Cash to seller
SALE PRICE PER SQ FT: $66.67 per square foot of land area
TYPE OF INSTRUMENT: Warranty Deed
ZONING: T6-8L Residential/Commercial — Maximum 8 stories
PRESENT USE: Parking Lot for adjoining multi -family residential
development.
CONDITIONS OF SALE: Arm's-length
ENCUMBRANCES: Restrictions, covenants, limitations and easement of
record. No apparent effect on sale price.
VARIOUS ON -SITE UTILITIES: All utilities available to the site
COMMENTS:
Site is used as parking for adjoining apartment
building. Purchased by adjoining land owner for
parking. Not purchased as same time.
42
The
URBAN
Group
REAL ESTATE CONSULTANTS
SPECIALWARRANTY DEED
11 h?.'ll • R Marra Endo (moral Record% . Pr 4 :)ozrW
CFN 20180023329 BOOK 30825 PAGE 3328
DATE 01 / 11,2018 1202 11 PIA
DEED DOC 756 CO
SURTAX 507 00
Progneata HARVEY R .MN. CLERK OF COURT, Y1A OADE CTY
(lrbtie•17.e rain
Roa ePortaaa Tito Samna LLC
1535 Ibis v,Eiase Road
Wooto. iL 33134.
1
gamaPrtCyo Tk:a Se rice t 1.1.47
Onion= 7rvatoo
1535 Tee Vfllsfe Road
Vostok FL 33326.
bridal to bo bounce of* lib escrows ccoattnnot
PDsllcrrbr; 111-9457
Cariirntion; d126.00000
(Spero Above Tots Liao Par Reccrda.g 11m)
Warraa(y Deed
Tbb Warra.ty Deed made d:i ✓'" day of Jaeasey.2118. by Marlaad Oar* Mom, a ai=te Mn tad Analogy D.
Johnson. a ?ink tall stoat pox et0 t alheu b 2g910 ►w 11153. Ail a101 ?140i, Ekintesi, TX 77401 taking to
Apj.ew )•rswh gad G6oefe Presto. ka sba.d mai orLso whose post office address Si 2522 Tan Strad, Dolyweed, 11.
33010, smoke.
(Wbeerea vied Alvah the terra Ipt.fY and "grantee' botada ad the ;vetst, tkb iniC•.mvt and tee ?eke ,r_pl
»lrereotadres, and *sips of md.iath, and be /WA. a Rd roles d coryara3oo .trues and easfou)
Rltaewrk, tut said toedm ter and b ens xados d tko gem dTEli AND NO (.00 DCE *Al<S 110.00) end _• Food
and va1i at:e analaartka to eat ogres. ta band paid y nit Foes* tee .eoopt mono[ >t htaby ackao+JodSa4 has
b' + b.tiabed, sad Wad to 1Sl said ran*, and i rk hers and 416aa finsvor, the Mowing desodSed fe•4 ranee,
lying and bring in tale Mbnl•Darle Coaaty, 01n41A to ale
ke War. 50 boa otlrt 13, Block 27, d WADDk3LT Anorna4 TO Th'E MY OR MIAML a sab8vk4oe
acordity W the old thereat ecordad at Piet Bode B. Page 53. a 6e Ptbge Ramada of kfsad-Dade Carty.
Portal Me itifc.tioa Nether:. 01 3115 04$ 11 t4
Tegetkar aids all the sooctrenti ECCOUCIACILI sod apprYrrmms borax bdao6a6 a to ...yam aopernor..1oF
To Saw sod to il.ild, the name air. k. okapis forever.
And the guitar h.t.by cools= Alt said melee fete be grower k betcey setad of toed ker; r. Sx tt;ie, O,ee the
6ererr hos good rifle sod 4rta1 unlexity to sea tad anory said knd; t>v fir grantor ter* fay Rents de ssV r and
land, red wOl defend be sole vilest tie latehl c;stas of all mama vDomwera; sod chat gad born b flee of .:1
roman area a, et.cept taus tax ate ye u dace* wed aaes:qucat "oars, x atlmL'ma, eo ons:boo, co m:oda sad caxacnU
oeeew.d.1f any.
43
The
URBAN
Group
REAL ESTATE CONSULTANTS
CF4 201130323329 BOOK 30625 PACE 3329
la WI imam Whereof, smoky tro haormoto sot graolor's kood led soil to 41) and year elxrre witt
Signed. deb in our getamme:
rrint.d 1411m°1000C1naett
State of 1605
C0437 of
cbry cf !gram', . 2011, by Merfaiiiiima,
The foregoing tritrucmui was mgriouiedged Ware roc An
sad Aintboay D. Julinum. thcy ( ) ate gaxacitaly knYee& to me oc ()() has produced
idensitcatioo.
as
naps Evenva inlame-dadmierk.cvn/OfficittfiecordaPrtotGoo..marii.smis703.Yoo1/Faccry1ZY9IFIroqTUM2Y%2bSovibbuX/G.T.410foovpV5C+UVIz16... o2
44
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 7- DATA SHEET
RECORDING DATA:
LOCATION OF SALE:
GRANTOR:
GRANTEE: Santa Filomena, LLC
County: Miami -Dade County
OR Book 30156 Page 2522
Folio number: 01-3125-048-1910
1421 NW 2nd Avenue
Miami, Florida 33136
Grevi, LLC
LEGAL DESCRIPTION: The South 30 feet of the West 50 feet of Lot, Block
45, Johnson and Waddell's Addition, according to
the Plat thereof, as recorded in the Plat Book B, at
Page 53, of the public Records of Miami -Dade
County, Florida.
DATE OF SALE: July 15, 2016
45
Th
URBAN
eRBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE VACANT LAND SALE NUMBER 7 (CONTINUED)
SIZE: 1,500 square feet
CONSIDERATION: $70,000
FINANCING: Cash to seller
SALE PRICE PER SQ FT: $46.67 per square foot of land area
TYPE OF INSTRUMENT: Warranty Deed
ZONING: T4 R Single — Multi -Family Residential
PRESENT USE: Vacant Land.
CONDITIONS OF SALE: Arm's-length
ENCUMBRANCES:
Restrictions, covenants, limitations and easement of
record. No apparent effect on sale price.
VARIOUS ON -SITE UTILITIES: All utilities available to the site
COMMENTS:
This is a fenced lot on dead end street
WARRANTY DEED
46
The
URBAN
Group
REAL ESTATE CONSULTANTS
11.•+1,Y: 1 r.
Ptei`tir d y and fchtm p.
Raul Perez nonage
Partner
Rs Hags & Yretdman, I.LP
396 Alhambra Circle Suite 204
Coral Cable, FL 33134
303-747-7550
Vile Number. 144-01
W III Call No..
MwmrDade Ofit al Beards • Pro. Dort a .rt
CFR 20160417183 BOOK 30156 PAGE 2522
DATE 07/144018 08 58 58 Ai11
DEED DOC 420 00
SUR"AX 315 00
IMRVEY mJw4. CLERK Of COURT, W1I.OAOE CTY
jtentaAmv.wT sia.For R.aler.Petai
Warranty Deed
Thin Warranty Deed made this 13th day of July, 2016 between Greet LLC, a Florida Melted liability comp..,
whose post office address is 1160 Collets Are, Miami lads, EL 33139, grantee. sr4 Santa YMoee.. LLC, a Florida
beaked Debility company whose post office address is 9100 South D.delaad lh d, Ste 912, MUIA, FL 33156, ("VAX
(Wliwoe.er red ken' . ow woos 'pane sea 'rvnan- ..ca•de sit !w panes lo Oki arYumml r aK brat legal .ep.esseaows, And wove c
ndrwtrals, and :he 'licensers rid -nips or crepentrw, anus 6.4 ttutcer)
Witnesseth, that said grantor. fox Mid in cons:deraron of the sten of 1 EN AND NO'100 DOLLARS (110.00) and atSa
good and rateable canideratans to seed pram m hand mid by said grantee. the receipt whereof is busby ackswwkdged,
has granted, bsrpined, and sold to the said grantee, and grantee's hefts and assign forever. the following daerebod 1aod,
situate, lying and being ut Miami -Dade County, Florida to -wit.
The Smith 311 feet of the West 50 bat of Lot 4, Sluts 45, Johanna sad Waddetrs Addtioa, *nordisg
to tee Mat thereof, as recorded la Plot Rook 8. at Page 53. of tee Tebbe Records of Miami -Dade
County. Florida.
Parcel Idt.t ificatlon N amber- 01-3125-04S-1910
Subject To: Condiions, restrictiau and easements of records, zeoing restrictions, prohibitions and other
requirements Imposed by govcrr.mcntal authority.
Together with a.l Ibe tenements, beredRso:ent:r and apposteoar.cea thereto beioessg or in anywee apportamrg
To Have and to Hold, the sa.•nc tr. fed lu:.pk forestr
And he grantor hereby covenants with said grades Ms the grantor n lawfully send of said hod in fee scrapk, that the
grantor hu good right and !awful authority to sell and convoy said hand. that the grantor hereby [ally wartwt th c tee to said
land and will defend the same against the Iawf:: chase of all peewee whomsoever. and that mod land is free of all
encumbrances, except rasa scenting subsequent to December 31, 241 S
In Wkness Whereof, grantor has hereunto set grantor's hod and seal Crane day and year first'hese wre'itel
Signs:, sealed aanl .3ebeefed in our presence
OeableTles.•
reps Inswea ri ami-0ioocers cmrlOKcsaRocords/P-into oimitee a%o QS=YaolifOr:ylvOEsidF%21DIS4gamSedTr vhDAltrlKide(Floryx9hr071... 7Q
47
The
URBAN
Group
REAL ESTATE CONSULTANTS
hi tn,.Osx Merl warm - Print lxeurwr
OF ( 2014306171S3 BOOK 30156 PAGE 2573
(Curpocstr Setif)
State of Florida
County of Mbml•Uwo
The furesuie6 nrtrtammt was acknowledged before me thn 15411 day of Jab. ?016 by Eleanore Tottery of Orrri LLC.
1tondo limited liability company. u, behalf of the corprxrim IWehe [j tow or (X) bee produced
drover's license as identification
)Notary Seal)
i
uc,i& D C. M11t/i IY
Co.etrMm 1 n J26O11
bon PapAl13,1111
Was Im.1.011.0
My Cortynittior Expires
0/;1/j1
Menterww2 o.nr.r emork.rt reerc"csaKtatorOvPnntDoctmentaap OOS.Yao&lfOriry OFIrc M210649ap9y07eiMip:HireCrte(Flpryd3Nr071 212
48
The
URBAN
Group
REAL ESTATE CONSULTANTS
COMPARABLE SALES LOCATION MAP
49
The
URBAN
Group
REAL ESTATE CONSULTANTS
a la mode, inc.
tke
IIW 1.1115 it
'*W al th 51
COMPARABLE No, 3
1737 NW 3rd Ave
0.3t mlles NW
COMPARABLE No. !
1421 NW 2nd Ave
0,11 miles W
tIr 51
COMPARABLE No. 1
1305 NW 2nd Ave
&we
wnsh.r 0.16 miles SW rt i,tn St
NW 17tn i1
NW S9171S'
+1F 2441, S1
NI .3rd SI
NE 2; nit 1
412,it St
NE 2C1NTrtt.f:s
NE 20th Si
NE 1'?1h Trrr&t
PaVk 1 COMPARABLE No_ S
NW ; Sit St
155 NW 17111 5C
0.21 miles NW
---- NE 11th St
COMPARABLE No. 6 COMPARABLE No. t
� 211 NW 12th St 01727 h TE-I
0,22 miles SW . miles
NE 17tr St
iles 5
ras4 ICrl7 SE 9OtI
— i11+snNylrr
hreJxy J7CFY23 Ekiy
Pont sot 1111 s1
NW 41t' Cl. .4rarrno n
K 7
m JAY ksth 5[ m NE Bth SSE } co
r_ 1 Nth JJ1h 59
3 F G
s y
h
P
• .
• NE lrt'. Si '
x NW 7tn ix es 213 NW7Nt Sr ,�
NE a1iL
NE 7r
rt
x NW 5th sl NE 6th Si
Jw 5th St a
r,
o - _ a
t 1 d . E Eth Sc r..
NW ME' Si NW Sth ST
.
... NE•11r�i1
r
++s� by +3GOioat rrrr 203in
N 6
:WV 4th Sr
NHarhs1
s 2ote taw. s 20,a liFeresoe Sb9 ermlic l
rSr
N£
rS
BAN
Group
r t. CONSULTANTS
COMPARABLE SALES CHART
SALE
NUMBER
SALE
PRICE
SALE
DATE
PROPERTY
ADDRESS
LAND
SIZE
(SF)
PRICE/SF
ZONING
1
$300,000
3/21/2018
1305 NW 2nd
Ave.
Miami
5,000
$60.00
T6-8L
Residential
Commercial
2
$1,500,000
4/21/2017
175 NW 11th
Terrace
Miami
29,500
$50.85
T5-L
Residential/Med
Retail
3
$558,500
4/10/2017
1737
NW 3rd Ave
Miami
13,153
$42.46
T3-O
Single &
Duplex
4
$108,000
3/1/2018
222 NW 17th
Street
Miami
5,250
$20.57
T5-L
Residential
Medium Retail
5
$126,000
1/5/2018
155 NW 17th
Street
Miami
3,360
$37.50
T3-O
Single &
Duplex
6
$500,000
10/2/2017
211 NW 12th
Street
Miami
7,500
$66.67
T6-8L
Residential
Commercial
7
$70,000
7/15/2016
1421 NW 2'
Avenue
Miami
1,500
$46.67
T4 R
Single Family
Multi Family
51
The
URBAN
Group
REAL ESTATE CONSULTANTS
VALUATION - SALES COMPARISON APPROACH TO VALUE
Discussion of Comparable Sales
In order to form an opinion of the market value of the land, we have reviewed numerous comparable
vacant land sales located within the Overtown area in Miami -Dade County in direct competition to
the subject neighborhood and which were deemed comparable to the subject property based on our
estimate of a similar highest and best uses. Careful consideration was given to locations, size, zoning,
access, site conditions as well as elements such as conditions of sale, market conditions, cash
equivalency and other factors. Based upon our review of all pertinent factors we have selected the
seven sales summarized herein as being the most comparable of the sales reviewed. In addition to
these sales, we also reviewed the sales of improved sites in the neighborhood as well as sales to the
north and east of this neighborhood. The review of these sales was helpful in our overall analysis and
we relied more specifically on the sales included in this report. The market has seen resurgence in
activity and has strengthened after the downturn of the real estate market. The market has specifically
seen resurgence in construction of multifamily and mixed -use developments. This access to major
north/south roadways as well as east/west roadways in the county allows easy access to the tri county
area of South Florida. The subject property has a good location in close proximity to major arteries
of transportation and the economic hubs associated with the downtown area, the hospital district and
the Port of Miami and Miami International Airport. After reviewing all of the data, we felt the sales
summarized in this report were reflective of the market for the subject land at this time. The variances
on each sale were considered in our overall review.
In evaluating the sales, various factors are evaluated in a logical sequence. Overall, the sale properties
range in size from 5,000 to 29,500 square feet of land area. The price per square foot range was from
a low of $20.57 per square foot of land area to $66.67 per square foot of land area. The following
discussion illustrates the steps undertaken in our analysis.
Property Rights Conveyed:
The property rights being appraised are the Fee Simple Interest subject to existing easements. Each
of the comparable sales consisted of the conveyance of the fee simple ownership of the parcels. Thus,
no adjustment for property rights is indicated.
Financing:
Vacant land of this type is generally acquired for cash or construction loans with institutional
financing. Often times, the financing is obtained in the form of an acquisition and development loan.
The financing for each of the sales has been analyzed and all of the sales consisted of cash to seller
financing and/or conventional mortgage fmancing therefore, no adjustment for favorable financing
was necessary.
52
The
URBAN
Group
REAL ESTATE CONSULTANTS
VALUATION - SALES COMPARISON APPROACH TO VALUE
Market Conditions:
We have analyzed numerous sales in the subject area, in the time period from roughly July of 2016
to the present. The sales took place from July of 2016 to March of 2018, all within 25 months of the
date of value. The market conditions for vacant land in this area have been relatively stable over this
time period with some increases noted during that time frame. No defmitive pattern was indicated by
the sales that would suggest a market based adjustment for market conditions. The market declined
after the boom with prices at the current time recently showing signs of stabilization and slight
increases. All of the sales have generally sold under similar market conditions. Therefore, no
adjustments are considered applicable, but we did consider the sale dates in our overall fmal analysis.
Conditions of Sale:
Each of the sales utilized for direct comparison were considered arm's-length transactions for this
type of land.
Location:
Locational characteristics deemed significant for vacant land sales include access, surrounding
demographics, surrounding properties and uses, supply of competitive land, etc. All sales are located
within close proximity to the subject property (.31 Miles) and all are in the Overtown area. Some
sales had varying locations with some on similarly travelled roadways, some on corners and one on a
dead-end street.
Sales 1. 2 and 6 are located south of the 395 expressway and are considered to be within the subject
neighborhood boundaries, although closer to the downtown development area. These properties sold
for the three highest unit sales prices of the sales reviewed from $50.00 to $66.67 per square foot of
land area. .
Zoning/Land Use:
The properties have varying zoning classifications, however the review of each of the zonings and
the sale prices did not indicate any market -based zoning adjustment. The varying zonings were
considered in our review and Sale 7 had the same zoning as the subject property with a sale price of
$46.67 per square foot in July of 2016, the oldest sale.
Size/Physical Features:
We have reviewed the sizes and various physical features of each of the sales relative to the subject
property. The subject site is 7,860 square feet. The sales had varying sizes from 1,500 square feet
to 29.500 square feet of land area. Sale 7 is the smallest site with only Sales 2 and 3 larger than the
subject property. The majority of the sales would be best combined or assembled with other parcels
to create a larger development parcel that would allow for greater density. The size differential will
be considered in our overall review and analysis.
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REAL ESTATE CONSULTANTS
VALUATION - SALES COMPARISON APPROACH TO VALUE
Conclusion:
The sales had a unit sale price range from a low of $20.57 per square foot to a high of $66.67 per
square foot of land area. The sales sold from July of 2016 to the most recent sale in May of 2018.
Sales 1 and 4 were the most recent sales and showed a wide range in values. Sales 4 and 6 were at
the low and high end of the range and after review of the 7 sales, it was our opinion that the other five
sales showed a much tighter range in values from a low of $37.50 to a high of $60.00 per square foot
of land area. No definitive dollar -based adjustments were indicated by this array of sales although we
have considered the variances noted in our review and as stated on the sales data sheets.
In summary, a market value of in the range of these sales was considered most applicable. Sale 7 was
the oldest sale and had the same zoning classification and sold for $46.67 in July of 2016. Sales 1
and 2 were applicable and a value above Sales 3 was also considered to be applicable at $42.46 to
$60.00. Sale 3 was not considered directly comparable due to the value of the remining improvements
on that renovation project. All of the sales were directly comparable, and the variances were
considered in our overall review.
Therefore, we have estimated the value of the subject 7,680 square foot site based upon the overall
review of the sales presented, the sale history for the subject and surrounding properties and the
additional sales considered in our review. Based on our review of the sales, it is our opinion that a
land value of $50.00 per square foot of land area would be applicable.
7,860 square feet x $50.00 per Square Foot = $ 393,000
54
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REAL ESTATE CONSULTANTS
RECONCILIATION
The Sales Comparison Approach was used to analyze sales of similar properties for the 7,680 square
feet subject parcel. The review of the sales date led us to a conclusion of market value for the subject
site at $60.00 per square foot of land area. The zoning and location within the CRA were considered
beneficial to the successful development of this parcel.
Based upon our review of the subject's location, zoning, and available utilities, it is our opinion that
the market value of the subject property as of November 6, 2018, is as follows:
MARKET VALUE OF SUBJECT PROPERTY
THREE HUNDRED NINETY-THREE THOUSAND DOLLARS
($393,000)
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REAL ESTATE CONSULTANTS
ASSUMPTIONS AND LIMITING CONDITIONS
The legal description furnished to the appraiser is assumed to be correct.
All existing liens and encumbrances have been considered, however, the property is appraised as
though free and clear, under responsible ownership and competent management.
The information identified in this report as being furnished to the appraiser by others is believed to be
reliable; however, the appraiser assumes no responsibility for its accuracy.
It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures
that render it more or less valuable. No responsibility is assumed for such conditions or for arranging
for engineering studies that may be required to discover them.
It is assumed that there is full compliance with all applicable federal, state, and local environmental
regulations and laws unless noncompliance is stated, defined, and considered in the appraisal report.
It is assumed that all required licenses, certificates of occupancy, consents, or other legislative or
administrative authority from any local, state, or national government or private entity or organization
have been or can be obtained or renewed for any use on which the value estimate contained in this
report is based.
It is assumed that the utilization of the land any improvements is within the boundaries or property
lines of the property described and that there is no encroachment or trespass unless noted in the report.
The distribution, if any, of the total valuation in this report between land and any improvements
applies only under the stated program of utilization. The separate allocations for land and buildings
must not be used in conjunction with any other appraisal and are invalid if so used.
Possession of this report, or copy thereof, does not carry with it the right of publication. It may not
be used for any purpose by any person other than the party to whom it is addressed without the written
consent of the appraiser, and in any event, only with proper written qualifications and only in its
entirety.
It is assumed that the land size is accurate.
56
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REAL ESTATE CONSULTANTS
ASSUMPTIONS AND LIMITING CONDITIONS (Continued)
Disclosure of the contents of this appraisal is governed by the bylaws and regulations of the American
Society of Appraisers.
The appraiser herein by reason of the appraisal is not required to give further consultation, testimony,
or be in attendance in court with reference to the property in questions unless arrangements have been
previously made.
Neither all, nor part of the contents of this report, especially any conclusions as to value, the identity
of the appraiser, or the firm with which the appraiser is connected, shall be disseminated to the public
through advertising, public relations, news, sales, or other media without the prior written consent
and approval of the appraiser.
The Americans with Disabilities Act ("ADA") became effective January 26, 1992. I have not made
a specific compliance survey and analysis of this property to determine whether or not it is in
conformity with the various detailed requirements of the ADA. It is possible that a compliance survey
of the property, together with a detailed analysis of the requirements of the ADA, could reveal that
the property is not in compliance with one or more of the requirements of the Act. If so, this fact
could have a negative effect upon the value of the property. Since I have no direct evidence relating
to this issue, I did not consider possible non-compliance with the requirements of ADA in estimating
the value of the property.
Unless otherwise stated in this report, the existence of hazardous materials, which may or may not be
present on the property, was not observed by the appraiser. The appraiser has no knowledge of the
existence of such materials on, or in the property. The appraiser is not qualified to detect such
substances. The presence of substances such as asbestos, urea -formaldehyde foam insulation or other
potentially hazardous materials may affect the value of the property. The value estimate is predicated
on the assumption that there is no such material on or in the property that would cause a loss in value.
No responsibility is assumed for any such conditions, or for any expertise or engineering knowledge
required to discover them. The client is urged to retain an expert in this field, if desired.
57
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REAL ESTATE CONSULTANTS
CERTIFICATION
I certify that, to the best of our knowledge and belief:
The statements of fact contained in this report are true and correct.
The reported analyses, opinions, and conclusions are limited only by the reported
assumptions and limiting conditions, and are our personal, unbiased professional
analyses, opinions, and conclusions.
I have no present or prospective interest in the property that is the subject of this report,
and I have no personal interest or bias with respect to the parties involved.
My compensation is not contingent upon the reporting of a predetermined value or
direction in value that favors the cause of the client, the amount of the value estimated,
the attainment of a stipulated result, or the occurrence of a subsequent event.
My analyses, opinions, and conclusions were developed, and this report has been
prepared in conformity with the Uniform Standards of Professional Appraisal Practice
of The American Society of Appraisers and The Appraisal Foundation.
I have made a personal inspection of the property that is the subject of this report. I
have not performed any services regarding the property as an appraiser or in any other
capacity during the past three years.
John F. Zink provided significant professional assistance in the preparation of this
report including research and sales data collection.
My analysis, opinions, and conclusions were developed, and this report has been
prepared, in conformity with the requirements of the Uniform Standards of
Professional Appraisal Practice.
I have met or exceeded the minimum prescribed educational requirements for
Recertification as an Accredited Senior Appraiser (ASA) of the American Society of
Appraisers.
Robert D. Miller, ASA
State Certified General R.E. Appraiser No. RZ 1270
58
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REAL ESTATE CONSULTANTS
ADDENDUM
PHOTOGRAPHS OF THE SUBJECT PROPERTY
View looking westerly
View looking southwesterly
View looking southerly along frontage
View looking westerly
Street view looking southerly
Street View looking northerly
SUBJECT PROPERTY DEED
: x.-niby tad tsLi.I :a'
Knity Phillips
Phillips Lanier
14 NK 10 Avenue. 2ad Floor
Miarol, Fl. 33112
305.354.1200
FOot Ntaicr Ethan Royal
Will C4:1No:
AY.,. 711. air hx ItA.rdaa Ass]
CI'he 2013037027T BOOK 20623 PAGE 3401
DATE 06M:112013 0216.27 AN
DEED DOC 2/0.03
►fARVEY *LARK CLERK Of COURT. IRA-OA. t CTY
Personal Representative's Deed
This Per,oasal Representative's Deed nude this 7tb day of May, 2013 bctwtea Eddloe Thanes, a stogie woman,
ECddise Thomas, se Personal Representative of the Gtak of Ernest Moeaas, Mirka Arsoid and Velwa P. Araoid,
AKA Yahoo P. Arnold, Hgebaad and Wile, and Lddbe Moans, r Perusal Reprewtadve of die Fatale sd Wills L.
Book, Jr, .lice poet office auk :eel u 1426 N W let Arrow, Maid, FL 33137 . granor, stand MIA TOWNRWS, LLC, a
Florida Malted Itabtllty company rr:'sate poor a:5at add.rn is 3153 Peachy Street, Minsk FL 33133 , Faucet
t 1+]egeter wee hens dr terms sorer mod target teca.4e II Se prtln b c!s.:srnrrcr r1 Sr lien, *pi 4enrmao.w, had amen. of aarvtdrh
He the .mcaeg.ro owl gorge* a wpaaaeq tools mod swims)
WWkacxseth, fiat said groom'. for and r cor.adendee of the sac TEN AND NO'100 DOLLARS (SIC.00) and caber good
and vakreble cautidersAaas o said grantor w band paid by said groom the receipt crltrvof is hereby acia000iedged, has
grantod, hargaioed, and so:d to the said grawea end grantees be and assigns forever. the Sollowisg described ;nod. arose*.
:yang artd being to Miatal-Dads Casey, Florida. soars
Lot 5, Block 43, Waddell/ Aldiden to the Town Of billing, grterditng to the plat thereof as recorded
is Plat Book B. Page(s) 51 halide Records of MLroa-Dade Comely, Florida.
Parcel identification' Naanher: 0131150411724
Together with all the t000menta, hercditanxots and gporteemces thereto bdoogag ot n aa.vnse a^patu>`�g
To Have and to Hold. tie same in fee satple forever.
Aad the grantor hereby ooveorrm wit said pongee t et the gtr ce }At geed rt l and lrtrfsl attJreity to atll sad coowvey
said Wad; that the grantor wstrand the title to said :end for any oar of Grantor sod n I defend the tide against the WOW
claims of all persons claitn:tg by. through, or under Gracing.
In Witness Whereof. t..' awoc Les besognto set (Suwons hind sod sea: fie day and you s-st above trrY an
DembleTbre
imps //wow?. ran :anv dadoderk anti(/oagteoatMArNt?oCvnonfasps70S=yaoUtOntry35COKnpodbrf'EOt 7OVe16 1n
M/ 11 mores-1We* Mod Roaords • Print Document
CFN 201303/0277 (TOOK 28823 PAGE 3482
Signed, sealed and delivered in ow prewar*.
AS PERSONAL
R P RFSDITATIVF. OF THE ESTATE OF FINEST
THOMAS
s
DIS' G. THOMAS
latRAWA
ClMAR/ ARP OID
/L
EDDISE THOMAS.
AS PERSONAL RE?RE'c1.)JTATIVF OF THE ESTATE
OF WIL LIF BOUIE. It.'140R
State oaFlon&
Cowley of Mum. fade
The floes-04g Imtnlmert Ness acknowkdgad before rre taus 'tl doy of Key, 2013 try t.YY* 714a44, a IfsJi wean&
Eddhc Thomas, as Persons! Repreotoudve of the Estate of Lrrraest ilsixaa. Clarks Arai/ and Vein. P. Amid.
AKA Velma P. Arnold. Husband and NW, and Udine Thomas. as Pwsoaal Repreontativc of ibis /state of WIMP L
Houk, Jr.. who J are personal!. Inn+vn rr IX I rose podsccd a drivers keare as adesailicafecav
woo—X=—`—
(r3nrrry Sea'J
In woe! Rry. eroreeve) !kW - !rre 2
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My C .— .. oa Esleac
OoNrTtotn
Mps.flwrw2nwelealeclakarwOrftrW2MoretlPrnl(bnmatinago106 V1aUlDesy,160OK 2Q
EDUCATION:
PROFESSIONAL
AFFILIATION:
QUALIFICATIONS
ROBERT D. MILLER, ASA
Appraisal Institute Courses
SSP Standards of Professional Practice
I -A Fundamentals of Real Estate Appraisal
I-B Capitalization Theory and Techniques
8 Appraising a Single -Family Residence
2-1 Case Studies in Real Estate Valuation
2-2 Report Writing
Business Valuation Seminar
Litigation Valuation
Other Appraisal Courses
Mass Appraisal of Residential Properties
Florida State Law and USPAP
Factory Built Housing
Automated Valuation Models
Senior Member of American Society of Appraisers -
South Florida Chapter No. 82 — Accredited Senior Appraiser (ASA) Real
Property Urban
LICENSED: Real Estate Broker- State of Florida- Inactive
Certified General Real Estate Appraiser RZ#1270- State of Florida
EXPERIENCE: 1995-Present Real Estate Appraiser and Subconsultant
1993-1995 Vice President -The Urban Group, Inc.
1978-1993 Real Property Analysts, Inc., Fort Lauderdale,
Florida, Executive Vice President
1987 Involved in United States Senate Study Right -of -Way
Acquisition Procedures
QUALIFIED AS
EXPERT WITNESS FOR:
HAS COMPLETED:
Condemnation proceeding in Lake, Kankakee, Cook and DuPage Counties,
Illinois and Broward, Dade, Monroe, Palm Beach and Duval Counties, Florida.
Testified in Bankruptcy Court in Florida and Texas and Federal Court in Miami,
Florida
Appraisal Assignments Counseling
Commercial, vacant and improved Acquisition projects
Condemnation projects Income tax analysis
Industrial, vacant and improved Investment analysis
Multi -family residential, Tax assessments
Mobile Home Parks ROW Cost Analysis
Office, vacant and improved Special assessments
Special purpose properties Review Services
VARIOUS CLIENTS OVER THE PAST TEN YEARS
GOVERNMENT
PRIVATE
ATTORNEY
BROWARD COUNTY
BROWARD COUNTY AVIATION DEPARTMENT
BROWARD COUNTY SCHOOL BOARD
CHARLOTTE COUNTY
CITY OF CORAL SPRINGS
CITY OF FORT LAUDERDALE
CITY OF FORT MYERS
CITY OF HALLANDALE BEACH
CITY OF HOLLYWOOD
CITY OF LAUDERDALE LAKES
CITY OF KEY WEST
CITY OF MIRAMAR
CITY OF MIAMI SPRINGS
CITY OF POMPANO BEACH
CITY OF RIVIERA BEACH
CITY OF SUNRISE
FEDERAL AVIATION ADMINISTRATION
FLORIDA DEPARTMENT OF TRANSPORTATION
LEE COUNTY
PALM BEACH COUNTY
PALM BEACH COUNTY SCHOOL BOARD
SMALL BUSINESS ADMINISTRATION
SOUTH FLORIDA WATER MANAGEMENT
TOWN OF DAVIE
US DEPARTMENT OF HOUSING & URBAN DEVELOPMENT
ALTMAN DEVELOPMENT CORPORATION
BELLSOUTH MOBILITY
CLEAR CHANNEL OUTDOOR
CLEVELAND CLINIC
LENNAR HOMES
THE TAUBMAN COMPANY
SBA TOWERS INC.
UNITED HOMES
WAL-MART CORPORATION
ACKERMAN SENTERFITT
JAMES BRADY & ASSOCIATES
BECKER & POLIAKOPF
BRIGHAM-MOORE
COKER AND FEINER
BRIAN PATCHEN PA
HOLLAND & KNIGHT
DALE BRUSCHI PA
TEW CARDENAS
VANCE DONEY & MACGIBBON
GOREN CHEROF DOODY & EZROL PA
WEISS-SEROTA-HELFMAN