hardeebusiness.com · web viewthe subject is located on the east side of us hwy 17 n, approximately...

66
Williatn 1(. Boyd, Inc. Real Estate Appraisers & Consultants Main Office 1564 Lakeview Drive Sebring, FL 33870 Satellite Office 410 Northwest 2nd St 0keecho bee, FL 34972 August 21, 2015 Ms. Sarah Pelham EDC Coordinator Hardee County Economic Development 107 East Main Street Wauchula, FL 33873 Phone: 863 385-6192 Fax: 866-384- 0258 [email protected] m VIA: sarah.pelham@hardeemail.com CC: [email protected] Dear Sarah: At your request, I appraised the property located at 1340 US Hwy 17 N in Wauchula FL 33873 and is more particularly described within the body of this appraisal report. The intended user of this report is the client, Hardee County Industrial Development Authority. The purpose of the appraisal is to provide an independent opinion of the estimated market value of the fee simple interest in the subject real property, tent canopy & portable office unit. The function and intended use is to assist the intended user in evaluating the subject for possible acquisition purposes. Any other use is prohibited as per Standard Rule 1-2 (b) of Uniform Standards of Professional Appraisal Practice. The subject was observed on August 7, 2015, which is the effective date of the appraised value of the subject. The time period during which the appraisal process was conducted and the report produced was July 20- August 21, 2015.

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Page 1: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

Williatn 1(. Boyd, Inc.Real Estate Appraisers & Consultants

Main Office 1564 Lakeview Drive

Sebring, FL 33870

Satellite Office 410 Northwest 2nd St

0keechobee, FL 34972

August 21, 2015

Ms. Sarah PelhamEDC CoordinatorHardee County Economic Development107 East Main StreetWauchula, FL 33873

Phone: 863 385-6192Fax: 866-384-0258

[email protected]

VIA: [email protected]: [email protected]

Dear Sarah:

At your request, I appraised the property located at 1340 US Hwy 17 N in Wauchula FL 33873 and is more particularly described within the body of this appraisal report. The intended user of this report is the client, Hardee County Industrial Development Authority.

The purpose of the appraisal is to provide an independent opinion of the estimated market value of the fee simple interest in the subject real property, tent canopy & portable office unit. The function and intended use is to assist the intended user in evaluating the subject for possible acquisition purposes. Any other use is prohibited as per Standard Rule 1-2 (b) of Uniform Standards of Professional Appraisal Practice.

The subject was observed on August 7, 2015, which is the effective date of the appraised value of the subject. The time period during which the appraisal process was conducted and the report produced was July 20- August 21, 2015.

This is an appraisal report, which is intended to comply with the reporting requirements set forth under Standards Rule 2-2(a) of the Uniform Standards of Professional Appraisal Practice for an appraisal report. As such, it presents only summarized discussions of the data, reasoning, and analysis that were used in the appraisal process to develop my opinion of value. Supporting documentation concerning the data, reasoning, and analysis is retained in my office files. The depth of discussion contained in this report is specific to the needs of the client and for the intended use stated.

Page 2: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

2File #15-207William K. Boyd, Inc.

My scope of work included the following:

• A review of the Hardee County Property Appraiser webpage on subject• A cursory observation of the subject• A review and analysis of the Hardee, Highlands, Desoto, Polk & Okeechobee

County's Property Appraiser's website and the Heartland & My Florida Regional Multiple Listing Services and Florida Realtors MLS Advantage for sales of steel frame modular metal buildings greater than 12,000 sq. ft. that have closed since January 2014.

It is with consideration of the above that I formed an independent opinion of value for the subject property by applying the sales comparison approach. The sales comparison approach is the most applicable approach for this property type and was the only approach applied. The cost approach is not typically applicable to properties of the subject's age since the cost to reproduce & develop would surely exceed the market value. The income capitalization approach was not applied since properties seemingly similar to the subject's type, design or location are generally purchased to be predominantly owner occupied.

No consideration is given for any furnishings, trade fixtures, equipment, or any business value associated with the property or its occupants.

Based upon my investigation of the subject property, analysis of the data in this appraisal report, and my general experience with these types of properties, I have estimated the "as is value"1. Therefore, it is my independent opinion that the market value of the subject "As Is" is as follows:

Metal Building, Site Improvements & Land $893,000Tent Canopy $ 24,000Portable Office Unit $ 28,700

This letter of transmittal is part of the Appraisal Report that follows, setting forth the most pertinent data and reasoning used to conclude the final value. Use of this report constitutes acceptance of the General Assumptions and Limiting Conditions listed at the conclusion of this report.

Respectfully Submitted,

1(;57d-WILLIAM K. BOYDSTATE-CERTIFIED GENERAL REAL ESTATE APPRAISER RZ338

WKB/Iyb

1 "As Is Value" defined as the market value of the subject as of the effective appraisal date.

Page 3: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

3File #15-207William K. Boyd, Inc.

PARCEL IDENTIFICATION NUMBER:

33-33-25-0000-08730-000033-33-25-0000-05350-0000

LEGAL DESCRIPTION:

See addendum

SALES HISTORY:

Per the Hardee County Property Appraiser's webpage for the subject, there has

been no transfer of ownership of the subject within the past three years. This is being

reported in compliance with Uniform Standards of Professional Appraisal Practice

Standards Rule 1-5(b).

LISTING HISTORY:

Per the Heartland Multiple Listing Service, My Florida Regional MLS and Ed

Judy, representative for the owner, the subject has not been listed for sale during the

past year. This is being reported in compliance with Uniform Standards of Professional

Appraisal Practice Standards Rule 1-1(b) and FAQ 226 & 228.

DESCRIPTION OF NEIGHBORHOOD:

The subject is located on the east side of US Hwy 17 N, approximately 1/81h of a

mile south of a signaled intersection. US Hwy 17 N serves as the main north-south

traffic route for Wauchula and Hardee County. The immediate neighborhood consists

of a Wai-Mart Shopping Center with gas sales, Winn Dixie, financial institution branches,

fast food restaurants, medical offices, a car wash and an auto repair shop. Downtown

Wauchula is location one mile south.

Page 4: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

COUNTY PROFILE:

- o.6'Ji o.•'llo 0,8%. ri- 0.

o"

._..... .

,,

4File #15-207William K. Boyd, Inc.

Hardee County

Florida's 50tfl most populous county

with 0.1% of Florida's population

···

Population Housmg

Cena.Popu1Jtton Hear-C4unty flo<14> HoualngCounla H>.W.COUnly f aortda19aOc-u. 2C.JS7 9,74!>,961 llllli. 2000 C8\0UO 9,820 7,302.9-:719illc-l& 19,499 t 2,93e,071 OCCOiplfO 8. 1116 6,337.929'lo1- ..0 2'!1 32. OWMr«QQj>lli s.t'n 4,44 1.199

2000 c:.MI& 26.- 15.982.!24 .n:er 2,169 t,e96,1JO'i!o 1- 3&_2'!!. 23.5'!1 YX.W 1,6SO 955,016

2010 27.731 18,801,332 - 2010 c.n.u. 9,722 U!9 5&)

'll Ctla!lg@ 2000-10

H orU!tlo'i!o HI<!N'*' or u:r.o

U-16 oroge'll Ul14fr sa )'NI"or oge

65 .,.0( age .,.,0Vf('i!o65 mologo"""om

M!<DD,r,g.

17.6% Clca.lpleO 8.2£5()ant( 5,733

7.420,802•.-,979

11,e95 4,22l,ell6 lltn:tr 2.612 2.•2U2J42.9'!1 22.5'i!o YX<Onl l •n 1.S6a.

n7,575 4,ll02,11J2'7.7'll 21.J% unna Pllmlltitcl3,575 3.259.602 19'» 57 126,38412.9'1. li.J'll 2000 56 155.269

J2 6 <0.7 "<Nngt 1990-2000 •1,ll'll 22..9'll2010 12 JU79

Eslimn.smd ProjKtions201JE$!rn 21.W 19.259,54J

".,..,.2000-10 ·16.6%2012 17

·75.1%6£,810

'St. 2011HJ .02% 2-4'1> ,.CNngf 20111-12 .CI . 67.6%2015P1CjOe1IOn 03HO on 2'012 27,SIO 19,750,577

"Cl»n!j*2'010.15 OM< 50'£ Populaton Charactensllcsmo PO)jfeiiOrlo-n 2'012K!m>:l! 28,192 21,141,)18

'10 201 20 1.0... 7 0'5 .,.,.,..,- Nil HordMCounty FIOna.

D"'"ity EllgkinPt<OOII$ pt<lqu;n... Peroortl5.,.,ovt< 40.J'i!o U'i!o 27.3'll •O. I'Io

2000 42.J 296•• Plact!O!c.nll2010 43.5 350.6 FcnJgnoorn 20.R +1.7 19.J'll +.!- D.I'll2013 .:3,4 359.2 Vft &QtUS

CMlon p<l!IUI.:ton 16- OVH 6.6%. +4 LOll. 10.6llo •1·0.1.,.Households and Fomily Households

R..I-1Y-AgoHouatiM>ICII Ha.WO C<Junly Flo<1<la Ptraona apd 1 ancs ovwT<UihOUHIICIICIO, 2'000 CIMUO &.1116 6,3)8,075 s.t!'!t nauM 85.&11••2.9'll 8J.7'1iot·J O. I

%, -2000c.MI& 6_25,1 4,210.760 oce'tf'r'lt nouH rnneu.s 13.6%. t.l- 2.9'5 IS.S'llo t'- 0.1'Ji

'i!o ..r.n "tN<Ifen t.n1er 11 45..5'11 42.3'llo Dt!tr.nt COIIU'f ... - 3..t'la ,-'-- 1..2'5 3.0'£ "f O. I'i!o

TotallleuWI<IICIO, 2010c- 8,2£5 7..20.!02 Ot:l'ormiCOI.Ill)'rt_,,_ .<lii ..2.0'llo 2.7'1io +.I- O l'llof"""JIIOUUI>Otl"-2010 ''12 <.835..75

% Wl:b CHm ctddren un:ter 18 45.$'11 40.0% ..,.. m.,.,:&tttOtOu ona con:!4e'=.cc ;c¥c!.A•tnCJO HOUH"'** Stt•.2010 312 :ueA..V..O..Q..9..t.f.0.!.1..1.1.y..S.I_.N......2,.-0,.1..0..C. t..<.l.a..u- o ............ ....................3.....5....2...-.,._......,......-. ----3-.-0!.M1

I6oo-.......-....,..,.,.,................--.....-.............t--........... .........- t.-...........

Employment by Industry

HUIIII>tt Of Ell»llth!MOI&. 2012 H>rdM C4<1n ly f lo<1<la Por. .nt 01 "ll _.,,..,..2012 H>rdMCOUI\1)' fl0r1CUIAI l'ldliOmfO 592 61S,137 M-el 592 615,137

H01Ur.ll Ruourot & lo!'*>g 143 5332 - Ruourot & MN g 2<.2!1 0.9'llCONU\Icllon 35 57,600 cono:rueaon s.w 9.<%M IS 16,370 MM111!-.nog 2.5'll J.o'llTflllle. •""tr.IIIM 119 139 949 Tr.l!le, T -U- 20.1'llo 22 8'11

11'1-. onnr.lon 10.21• _lntormoton, 0. 7'1io ""Fmncl»Ac:l\IIIIK 34 65.&<5 ,_ Ado'l:Jo$ $.7'i!o 10.7'10Pro(....,..& I!UOir.tU StMCK 65 1Ji,l% 11.0'4 226%EoucatJOn 4 Hflla't S ,1ce' 48 l -H06pu!y 6'.2$4 ducallon & i!>POIII-• 8. 1% 10..'11

52.481 ltlotnana 7. 1%. &S'i!o

.................._........._...._<2 6.123 Gov..,_ 7. 1'llo l.l'llo

o::Mf'SM1C& .<3 52,751 Ollltr_, 7.3% a.&'llo

Page 5: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

COUNTY PROFILE (CONTD)

5File#15-207William K. Boyd. Inc.

Lab« F-.•• hrc:.nl OC PopulatiOnAa-c118and Ollltr Hordot County flOrid> UnomploymonlRat. HMdet County fiOll

1990 67..>% 64 '!1 19110 12. 6.J'52!100 55 I 63.5'!(, 2000 S.9'lo J as2010 6Ullo 617':1. 2010 11. 1':1. 11.3'52013''prefm;Jwy

558% 61.4'!1 2013' 7.4'to 1.0':1.

!!

-"' ,

H<1rdee County

Anqgo Annual flnploy•,.nt.Employment by lndustty

or Alllnclua11'1M. 2012Al11<lliQilf'

NalUQI Rr""""""& MrllngCOtts:NcaonM

r.-.Tl'illUpCita!IOft '""' ·ll!llln'rla:IOnf'INnei»AI::MIK

8 Sf:MCH

l.,.....anHOOjlllmyo_a..s,e.lV,I,CH

HilliN County7,e.Q31.5

3_01!.2.6'1.13.4'1.0.5':1.34':1.31%

140%5.2'1.1

214%

fi0<1Cil7.34072

l.l'lo47'104 3%

20!l%1.4'1067':1.

14.6,.14.9%ll6'JI

3.2%1·

AVttagl AJVIUII W • 2012AII

IU:Ini &MllbgCOM:NcOon

r.-.Ttan'f!OIU!'on illld UtJ es lnftl1111mr\l'll!.mCQIAO:I>'o:iO'-U!On.ll&eU5111.85se •f-&H H hI.%Aun.md ll)O'!Dtr '

Hor-counry FIOll,29,321 $43,21026. 111 $27,002m.1ao $<1,561$34.222 $53.23'S32A21 $38,621$31$1 U6A22$37,901 $61,401U7.701 $$3,12&$29. $4$.165$13,17;) $22.304$19. $30,377$36,762 $47

Labor force

Income and FinancialHealth

Pononallnco<M ($000.)1990

H>nltt County5295.646

FI0<1Cia$253.32< 3

hr cap111 PtraonIncome1m

HM<»o County$15.032

flon •$19.437

2!100 $.>71.119 $.>66,6.U,10S 2000 $17.599 $29.07'loctwll 59•':1. llo(Nngf l 17. 1':1. <9 611.

2010 1-687.012 $72$,.035.2$a 2010 $2$,197 $36,493Sct\011 2000-10 45.8'lro 55,5% "clUo9f 2001>10 43.2')1, 32.•'5

2011 5716.550 $761.JQ3.232 2'1111 U6MJ $39.§,.t:t\an92!011>11 £.3% 4.9'5 ':l.ctllll>9f201Q-11 &.$'10 3.611.

2012 $12!,e9-5 $792,2$!',3a6 2'1112 $26.237 $41,012,.ct>anqo 2011-12 0.7':1. • 1% "'Cll>tngE 2011-12 ·2.3' 2.ello

Wlllnga Dy PlaCe OIWoB{SOOOe)1990 stn.685 $161. 176 093

Mldlan Income llrcllan l"....,. $36,115 •·"$3,5$4 $<7,

lll9+.•""2000 $293.695 S312.1'S.t85 IIrclliln F..,;ty lnoam• 539 627 - $3,7<7 $57. 12! flo 5256,.ctwlgt 1990-2000

2010% CNn9f 2001HO

2011"' cNn9f 2010.11

20122011-12

P·lftOIIal l!anknlp!cy flang Rat.(I* 1.000 popUU!lOn)

20112012 _ _ ........,..c.....-,

SW!II.lr..&

65.J'llo 93. 7':1.$395.961

$.ll8,536.C•13<& 40.5'!(,

$400,66$ $<49,707 5992-T'Ji. 2.$'10

$<05.127 $<69.206,452.o.J'll ·3

tilnltt Counly FlOridaLOT •n160 •.!16

55 NA

•r •b otef'!tlt.Ut!t o<cnS.:.l'I')U:I.oeL

h<ctnltn Povtny.2012AII.JgK Illpo•OII'fUOCiet <>go IS In JIOVOII'f5-17 111 t1miiK 111 oo•Bty

Educallon

Pui>IIC ECIIIcaliOntnaUtuilonaTotal

aem..-yMlddle Senorti9' Corob n n

Flollda3,$40I

600617Je5

Cl'irn.

Ouahty of Life

HMdetCOUIIly FIOt1dtEducallonll alt.IJIID+nt

PUtono aga<1 25 1nd otdorClt'rA! me. 2012 {!nii@Xo per

100.000)AUrnlulon5lD p15on fY 2012-13

.....lD p15on ""'100,000

2.601.8sa

3MU33_29$

'JIHS ieorlllg,....lii -10<'$ «n!gM<

53.2% ,. 2.9%

9.J'lfo •1- I.K

45. 5% +1- 0 I'll26.0':1. +J.. O.I'll

popWrCft fY 2012·13

WolliR Ag-.1 " :anG OVttPuc. 01 WOll in FIC>Ma

WORC<lli.M COI.Ilty CC · Tr.IVOI Time 10 WOR

Mean nvtl trM <owon ti!W\U:KI+•fi!M;ll'l or muO.nto en•!04c:CW:Cdt.'\!.fl'ti

209 5 172.9

25. 1 tl-1.7 zs.a.,.o.,

Page 6: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

6File #15-207William K. Boyd, Inc.

ftn'flKIO 11-12TCIUI- M ftflenueACCI:UII(RMXII)

H.-.County

5389.7

FJonoa•

»l 2S.D08.3

E.qMn<llbll'll 11-12TOia!- MAccounleodH($0006)

H-COWI!y

3).990.4

flo.-•

$ 34.3&5.709.0Ptr $ $1,JOI).46 $1,&91.00 PtrC..,$ 1,22A.3S $ 1,8!18.84

Yo 01 TCIUI 1000'll. 100.0'll. '1. ctTOUI 100.0'4 100.0'!1.TuK --S<orvl::8"(lOOOo) $14 747.6 $10,666,412.1 (RMXII) 1M69,6 $ 6..203.586.6

PtrCapla$ $532..66 $$M.92 Pef<:a;>b $ 384.32 $ 340 78Yo 01 TCIUI

Pflmb.Fee. ana Spedal--lil(RMXII)

l&.O'll.

$2.755.1

31.0'll.

$1, 193,666.J

Yo «TOUINlii:SMMJ(50005)

JIA'JI.

$ 12.180.2

18 0Yo

$ 1 8 u.a.<D.APtrCapla$ $99..24 $65.57 Pt<c.pb$ A3S.74 429..22

Yo 01 TCIUI 7 I 'll. 3.5'!1. 'JI. ct Tatll JS.&'lfo 22.7%

lllltfgovtml1letltli '""""'*$9 ..}45,473.9

fmiiOIImell11,546.2 $ A,DI4,8:!1.ll

Ptr $ 9 $23&.76 - $ 55.69 $ 220SlYo 01 TCIUI 24 I ll. 12.6Y, 'JI. ct TCIUI l.SY, 11.7Yolllr T

(W!Oo) $3,936.8 $10.959 3 (RMXII) 4.565.0 4 159,69 0 0PtrCapla$ $14UO $602.00 Per Capllil t 164 OJ 228.50

Yo OCT- 10.1'!1. 316.'lfo '!l.ctT 13.4Y, 12.1'!1.

16 35.277703.4 3

.151,774.9NPiln:ell; 25 5.859

3,242.7 163,209.3

- H-..n

ow.-

Ptr l $

-28 6,702 SpecQI01olnc15

.

COUNTY PROFILE (CONTD)

Hardee County

Reported County Government Revenues and Ellpendrtures

($0006)

JUagll'le!lO, F M••..0 F(RMXII) $U7.0 $141,680.5

$1Q.34

S7.78Yo 01 TCIUI 0.1'% OAllo

M--.o-($0005) $1.S18.J

$996.360.7PerCapla$ SSU9 $54 73

Yo 01 TOUI 3.9'!1. O:IW<SCUCK

(W!Oo) S6,2A2.0 S6, 121.210.3

Ptrc.pb $ $22 $336..2•Yo CIT- 16.1% 17.4%

• MCouftCJOcn"E.lla$COIIv411-lllc con:wr.saza e«ror Jf OiimolC.OUncJ&"'t..k Cti; Qcd., rmidduk ii:ICaltnlll'!ct-riwlCOU"tr-.Is.

($1l005)

I:.OOIIOII'I!C-.a(RMXII)P $Yo ctTOUI

($0000)C<lpli

'JI. crToe.. CUIIn / lttC1'U110n (SOO!l5)

Ptrcapb$'JI. «Total

01110< NOI>-O g(10000)Ptr $ Yo cr Tatll

Ccxln·Relmcl ElcpofdLRO($00!lo)

Pf<CapG$'JI. «Total

1.184.5 $ 1.279, 096.842.67 $ 70.263.5... J.7'4

949.3 $ 3 027,557.934.20 $ 166.J12.8Yo &.a'JI.

1,l2S. t $ l.l&J.S27.940$2 76.003. 3% A.O'll.

1,703.3 $ 5.S98,084.A62.80 s 307.51

16.3!1.5 '"

27.2 $ 905.203.2$ 0.98 $ 49.72

0.1'1. 2.6Y.

State Infrastructure State and local Taxauon

TDnlpotUllollSUic J

Cetll!nhMill!' l..iiM llllK

stl 8MgH

Slo!oF ocllu

"•-County FIOI1Cia 201S tlG YaiOtMI Mm.g•1WM

!14. 7 12.08S.9 County210.7 43,337 4

l.'unlelpal

! ..-CountyCouni}o-YIIr:lt Not Couni}o-YIIr:lt'

8.5540 000007.3&20

0.6501

-(IN'.300Sq..- F l) •lotSJU_IIo _'-

_"""'"""-...0.7487 0.0000

s..,_Footoge

Sbtl lAn<llC<>Ne<v.uon Lana.Piln:e ll;

89 15.49360< 05 2U,D03,9JS

..-.. ---ww........s...sJ•T........._ R J:l.1'llt4Sil

casct•G· 141» ""'-'f_. -Mil·

Page 7: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

NEIGHBORHOOD MAP:

7File #15-207William K. Boyd, Inc.

Page 8: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

8File #15-207William K. Boyd, Inc.

DESCRIPTION OF THE SUBJECT:

The subject is 9.09 acres with 508 feet of frontage on US Hwy 17 N. According

to the Hardee County Planning/Development Department, the subject is zoned C-2

(General Commercial) with a future land use designation of Town Center. It is the

intended user's responsibility to obtain an interpretation letter regarding zoning

classification, future land use designation and conforming uses of the subject present or

proposed by any and all governmental regulatory agencies.

The subject is improved with a 29,444 sq. ft. steel frame modular metal building

with 16' eave height that was built in 1966 and remodeled over the years. The interior

of the building has approximately 1,274 sq. ft. of minimal office space, restrooms &

storage. In the southeast corner of the building there is 5,375 sq. ft. of loft storage. The

building is equipped with three phase electric and two electric meters. Attached to the

exterior of the northeast portion is a 5,476 sq. ft. steel frame metal canopy. On the south

side of the building is a 1,344 sq. ft. steel frame modular building with 16' eaves. This

building was built in 1985. Site improvements include chain link fencing, broken asphalt

& concrete paving, 1 - 6" well, 1 - 8" well, water system & septic tank. The

described improvements are located on the western 4.09 acres of the subject site. The

five acres to the east is overgrown with tall grass.

Also located on the property is a steel frame tent canopy that measures 60' x 200'

x 30'. There is also a steel frame modular portable office unit that was built in 2003 with

1,434 sq. ft., a waiting room, reception area, five offices, two restrooms and a

breakroom. This building is equipped with two central heat & air systems. The steps

located at the front are steel frame and are designed specifically for this type of unit. It

is my understanding that these two items are to be dismantled and relocated to another

property, therefore they have been valued separately as personal property.

Page 9: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

9File #15-207William K. Boyd, Inc.

ENVIRONMENTAL CONDITIONS:

I am not aware of any environmental conditions that would have a negative effect

on the subject however it is at the intended user's discretion to obtain an environmental

audit.

EXISTING USE:Vacant Light Manufacturing Facility

USE REFLECTED IN THIS APPRAISAL:Vacant Light Manufacturing Facility

HIGHEST AND BEST USE AS IMPROVED:

Legally Permissible: The improvements conform to the property's zoning

limitations and requirements.

Physically Possible: Upon review of the configuration, positioning of the

improvements on the site, and the zoning restrictions, the improvements appear to

maximize the development of the site along with the five acres of excess land available

for future development.

Financially Feasible: The improvements were owner occupied and have

historically been owner occupied. This is typical of this property type.

Maximally Productive: No other probable or profitable alternative use for the

site is believed to exist that would economically justify removal of the existing

improvements. Therefore the maximally productive and highest and best use of the

property is a light manufacturing facility with five acres of excess land available for future

development.

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10File #15-207William K. Boyd, Inc.

EXPOSURE TIME:

The market indicated that exposure time (i. e., the estimated length of time the

property interest being appraised would have been offered on the market prior to the

hypothetical consummation of a sale at market value on the effective date of the

appraisal; a retrospective opinion based upon an analysis of a past event assuming a

competitive and open market) would have been about eight to eleven months.

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11File#15-207William K. Boyd. Inc.

IMPROVED COMPARABLES:COMPARABLE ONE

lOCATION 101 W Palmetto StArcadia, FL

36-37-24-0284-0090-001036-37-24-0284-0080-0030

RECORDED 201414005605

ClASSIFICATION Light Manufacturing

SALES PRICE $825,000

DATE OF SALE 11/14/2014

TERMS

CASH EQUIVALENCY PRICE

lOT SIZE

Cash

This property is located one block west of Hwy 17 and consists of four connected buildings with eave heights ranging from 26' to 30', equipped with three phase electrical service. One of the buildings has approximately 4,568 sq. ft. of office space. Site is improved with 63,069 sq. ft. of asphalt paving and chain link fence. This transaction was a resale of a lender foreclosure property. Grantee plans to utilize a portion of the space for their door hardware/component business.

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IMPROVED COMPARABLES (CONTD)

12File #15-207

William K. Boyd, Inc.

COMPARABLE TWOLOCATION 5705 Desoto City Rd

Sebring, FL 33870

PARCEL ID# C-09-35-29-A00-0262-0000OR 2466 PG 1793

Distribution Center

000

This property is located at the southwest corner of Desoto City Rd and Razorback Rd, approximately mile east of US 27. This steel-frame modular building is 13,180 sq. ft. with a 1,296 sq ft. concrete block stucco building attached to the north side and an eave height of 24'. The metal building has overhead doors at the north & south ends with a raised loading dock located at the south bay door and two bay doors with loading dock on the west side The interior of the metal building has 1,800 sq ft. of office space & restrooms. The CBS building 1s finished office space The site is improved with 31,410 sq ft of asphalt paving and 3,044 sq. ft. of concrete pads. The property is fenced on four sides Prior owner used property as a distribution center and the Grantee also intends to use it as an owner distribution center.

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13File #15-207Wlliam K. Boyd, Inc.

IMPROVED COMPARABLES (CONTD)

COMPARABLE THREE

LOCATION 605 SR66Sebring,FL 33875

Harbor Community Bank

High Desert Research, LLC

C-16-35-29-A00-0012-0000

This property is located 1/10th of a mile west of US 27 and has698± feet of road frontage on the south side of SR 66. The building has 10,400 sq. ft. with 16' high eaves, six overhead bay doors, 400 amp-3 phase electric, 1,600 sq. ft. administrative offices and four restrooms. The site has67,600 sq. ft. of asphalt paving and 1,290 feet of 6' high fencing. Building needs a new roof and the cost of this improvement was considered in the sales price. Original construction design was as a trucking terminal; then used by a waste management company for staging their trucks & repair work; then by a site utilities contractor. This transaction was a resale of a lender foreclosure. The property was purchased to be owner-occupied by their

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14File #15-207Wlliam K. Boyd, Inc.

IMPROVED COMPARABLES (CONTD)cultural uct business.

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14File #15-207William K. Boyd,Inc.

IMPROVED COMPARABLES ADJUSTMENT GRID:

SUBJECT COMP1 COMP2 COMP3LOCATION US Hwy 17 N

WauchulaW Palmetto St

ArcadiaDesoto City Rd

SebringSR 66

SebringSALES PRICE N/A $825,000 $373,000 $365,000

SALES DATE N/A 11/14 09/14 12/14

LAND AREA(acres)

9.09 12.716 3.686 2.77

ZONING GeneralCommercial

GeneralIndustrial

Industrial Industrial

FUTURE LAND USEDESIGNATION

Town Center Industrial Commercial/Industrial

Industrial

BUILDING AREA(sq. ft.)

30,788 170,715 14,476 12, 000

YEAR BUILT 1966 & 1985 1942,1951,1958,1959

1973 1989

CONDITION Average Fair to Poor Average Below Average

DESIGN Light ManufacturingFacility

Light ManufacturingFacility

DistributionCenter

Truck Terminal

PRICE PERSQUARE FOOT

N/A $4.83 $25.77 $30.42

QUALITATIVE ANALYSISLOCATION US Hwy 17 N

WauchulaSlightly Inferior Slightly Inferior Similar

LAND AREA(acres)

9.09 Slightly Superior Highly Inferior Highly Inferior

ZONING GeneralCommercial

Slightly Superior Slightly Superior Slightly Superior

FUTURE LAND USEDESIGNATION

Town Center Slightly Superior Slightly Superior Slightly Superior

BUILDING AREA(sq. ft.)

30,788 Highly Inferior Superior Superior

YEAR BUILT 1966 & 1985 Inferior Similar Slightly Superior

CONDITION Average Highly Inferior Similar Slightly Inferior

DESIGN Light ManufacturingFacility

Similar Slightly Inferior Slightly Inferior

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SUMMATION AND ANALYSIS OF COMPARABLE SALES:

15File #15-207William K. Boyd,Inc.

The three sales outlined are the best available data for comparison of steel frame

modular metal buildings with more than 12,000 square feet, located in south central

Florida, that have closed since January 2014.

Comparable One is slightly inferior in location, slightly superior in land area,

zoning & future land use designation, highly inferior in building area & condition and

inferior in age. The indicated adjusted price per building square foot has been

determined to be $29.83.

Comparable Two is slightly inferior in location & design, highly inferior in land

area, slightly superior in zoning & future land use designation and superior in building

area. The indicated adjusted price per building square foot has been determined to be

$28.77.

Comparable Three is highly inferior in land area, slightly superior in zoning, future

land use designation & age, superior in building area and slightly inferior in condition &

design. The indicated adjusted price per building square foot has been determined to

be $28.42.

Based upon my review and analysis of this data and current market conditions, it

is my independent opinion that the "as is" market value of the subject real property as

of the effective date by the Sales Comparison Approach is as follows:

30,788 sq. ft. @ $29 per building sq. ft. = $893,000 (R)

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COMPARABLE SALES MAP:

'-------

'

'

I

I

16File #15-207William K. Boyd,Inc.

Nedson

_.._-. --.• [email protected];--- -•"' Bowling Green •,p I

I I I I I

Alpine· -----------------------

:@ 1'3 Avon ParkIIIIIII

1'3

e-

Wauchula

H A R 01 E E

®

Moffitt

I

GriffinsCorner

StRoberts Special

II

Ctewsville

Lakemont

E

one

Sweetwater

·-----_I -$--------------------------------- _.,. !

a "I

Cubitis:msing

Placid lakes

NUughway 70 @ :(lOJ Cho

Hicori

...

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GENERAL ASSUMPTIONS AND LIMITING CONDITIONS:

17File #15-207William K. Boyd,Inc.

The certification that appears in the appraisal report is subject to the following conditions. Please see letter of transmittal for additional assumptions, which apply directly to the subject property.

1. Acceptance of and/or use of this report constitutes acceptance of the foregoing GeneralAssumptions and General Limiting Conditions.

2. Possession of the report, or copy thereof, does not carry within 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 my written consent, and in any event only with proper written qualifications and only in its entirety. Neither all nor any part of the contents of this report, or copy thereof, shall be conveyed to the public through advertising, public relations, news, sales or any other media without written consent and approval.

3. I will not be required to give testimony or appear in court because of having made this analysis, with reference to the property in question, unless arrangements have been previously made thereof.

4. It is assumed that the legal descriptions as given are correct, that the utilization of the land and improvements are entirely and correctly located on the property described and that there are no encroachments or overlapping boundaries. I have not made a survey of the property and no responsibility is assumed in connection with such matters. Should a current survey indicate a discrepancy in the subject site size, this report would be subject to review and change. Sketches in this report are not to scale and are included only to assist the reader in visualizing the property.

5. No responsibility is assumed for matters of legal nature affecting title to the property nor is an opinion of title rendered. I have not reviewed an abstract of title relating to the subject property unless otherwise stated. No title search has been made and the reader should consult an attorney or title company for information and data relative to the property ownership and legal description. It is assumed that the subject title is marketable but the title should be reviewed by legal counsel. Any sales history information given has been researched and to the best of my knowledge is accurate, but not warranted.

6. Information and data furnished by others is usually assumed to be true, correct and reliable.When such information and data appears to be dubious and when it is critical to the analysts, a reasonable effort has been made to verify all such information; however, no responsibility for its accuracy is assumed.

7. All mortgages, liens, encumbrances, leases, and servitudes have been disregarded unless so specified within the report.

8. 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 this report.

9. It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless a non-conformity has been stated, defined and considered in this report.

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18File #15-207William K. Boyd,Inc.

GENERAL ASSUMPTIONS AND LIMITING CONDITIONS (cont.)

10. It is assumed that all required licenses, consents or other legislative or administrative authority from any local, state, or national governmental 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.

11. It is assumed that the subject property conforms with the 1985 Growth Management Act's"concurrency" requirements.

12. Improvements proposed, if any, on or off-site, as well as any repairs required, are considered, for the purpose of this appraisal, to be completed in a good and workmanlike manner according to information submitted and/or considered by us. In cases of proposed construction, the report is subject to change upon inspection of the property after construction is complete. This estimate of value is as of the date shown, as proposed, as if completed and operating at levels shown and projected.

13. It is assumed that there are no hidden or unapparent conditions of the property or structures which would render it more or less valuable. As an appraiser, I am not a licensed exterminator, licensed roofer, hazardous substance and environmental expert or structural engineer. Inspections by qualified experts in these fields would be required to determine any adverse conditions. No responsibility is assumed for such conditions or for inspections which may be required to discover them. If any adverse conditions are found, this report would be subject to review and changes.

14. No environmental impact studies were either requested or made in conjunction with this analysis, and I hereby reserve the right to alter, amend, revise or rescind any of the value opinions based upon any subsequent environmental impact studies, research or investigation.

15. Unless otherwise stated in this report, the existence of hazardous substances, including without limitation asbestos, polychlorinated biphenyls, petroleum leakage, or agricultural chemicals, which may or may not be present on the property, or other environmental conditions, were not called to the attention of nor did the appraiser become aware of such during the appraiser's inspection. The appraiser has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser, however, is not qualified to test such substances or conditions. If the presence of such substances, such as asbestos, urea formaldehyde foam insulation, or other hazardous substances or environmental conditions, may affect the value of the property, the value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them.

16. Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from the county public health unit.

17. The appraised value is subject to documentation being provided that there are no in-ground or above ground fuel/storage tanks existing on the subject site. In the event that such fuel/storage tanks are found, it is assumed that they comply with all local, state and federal regulations regarding fuel or storage tanks. If they are not in compliance, this report would be subject to review and change.

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19File #15-207William K. Boyd, Inc.

GENERAL ASSUMPTIONS AND LIMITING CONDITIONS (cant)

18. The distribution of the total valuation in this report betvveen land and improvements, if any applies only under the reported highest and best use of the property. The allocations of value for land and improvements must not be used in conjunction with any other appraisal and are invalid if so used.

19. The estimated market value is based upon no changes in the existing Federal Tax Laws that are in effect on the date of the appraisal.

20. It is assumed that the property, which is the subject of this report, will be under prudent and competent ownership and management over the entire life of the property. If prudent and competent management and ownership are not provided, this would have an adverse effect upon the value of the property appraised.

21. The estimated value is subject to change with market changes over time. Value is highly related to interest rates, exposure, time, promotional effort, supply and demand, terms of sale, motivation, and conditions surrounding the offering. The value estimate considers the productivity and relative attractiveness of the property physically and economically in the market place. The estimate of value in the report is not based in whole or in part upon race, color, or national origin of the present owners or occupants of the properties in the vicinity of the property appraised.

22. In the event this appraisal includes the capitalization of income, the estimate of value is a reflection of such benefits and my interpretations of income and yields and other factors which were derived from general and specific market information. Such estimates are made, as of the date of the estimate of value. As a result, they are thus subject to change over time. The date as of which the value estimate applies is only as of the date of valuation as stated in the letter of transmittal. I assumed no responsibility for economic or physical factors occurring at some later date which may affect the opinion stated herein.

23. An appraisal is the product of a professionally trained person but nevertheless is an opinion only, and not a provable fact. As a personal opinion, a valuation may vary betvveen appraisers based upon the same facts. Thus, I warrant only that the value conclusions are my best estimate as of the date of value. There are no guarantees, either written or implied, that the property vvould sell forthe expressed estimate of value.

24. 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 detained requirements of the ADA I did not consider possible noncompliance with the requirements of ADA in forming my independent opinion of the value of the subject property.

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20File #15-207William K. Boyd, Inc.

CERTIFICATE OF APPRAISAL:

I certify that, to the best of my 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 my personal, impartial and unbiased professional analyses, opinions and conclusions.

- I have no present or prospective interest in the property that is the subject of my appraisal report, and Ihave no personal interest or bias with respect to the parties involved.

- I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three year period immediately preceding acceptance of this assignment.

- This appraisal assignment was not made, nor was the appraisal rendered on the basis of a requested minimum valuation, specific valuation, or an amount, which would result in approval of a loan.

- My compensation is not contingent upon the developing or reporting of a predetermined value or direction in value that favors the cause of the client/intended user, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.

- My reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with: the requirements of the State of Florida for state certified appraisers; the requirements of the Uniform Standards of Professional Appraisal Practices of the Appraisal Foundation; and the requirements of the Code of Professional Ethics and the Standards of Professional Practice of the Appraisal Institute.

- The use of this appraisal report is subject to the requirements of the State of Florida relating to review by the Florida Real Estate Appraisal Board and to the requirements of the Appraisal Institute relating to review by its duly authorized representatives.

- I currently hold an appropriate state certification allowing the performance of real estate appraisals in connection with federally related transactions in the state of Florida in which the subject property is located.

- As of the date of this report, I have completed the mandatory continuing education requirements of the Appraisal Foundation and the State of Florida.

-I certify that if this report was transmitted as an "electronic record" containing my "electronic signature" as those terms are defined in applicable federal and/or state laws, or a facsimile transmission of this report containing a copy or representation of my signature, the report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature.

-I certify that my education, experience, and knowledge is sufficient to perform the appraisal assignment

- I made a personal observation of the subject property that is the subject of this report.

- No one provided significant professional assistance in the preparation of my appraisal.

-This appraisal meets the minimum requirements of 13 CFR (Code for Federal Regulators) Part 323 concerning Real Estate Appraisals for FDIC (Federal Deposit Insurance Corporation) or institutions

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21File #15-207William K. Boyd, Inc.

regulated by FDIC and the minimum appraisal standards as listed in the engagement letter.

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21File #15-207William K. Boyd, Inc.

-This appraisal report recognizes the following definition of value:

*Market Value means 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 knowledgeable, 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 United States' 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 sale concessions granted by anyone associated with the sale."

*This example definition is from regulations published by federal regulatory agencies pursuant to Title XIof the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 51990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. 2006 Advisory Opinion 22 The Appraisal Foundation.

Kt57d-WILLIAM K. BOYDSTATE-CERTIFIED GENERAL REAL ESTATE APPRAISER RZ338

Dated: August 21, 2015

WKB/Iyb

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22File #15-207William K. Boyd, Inc.

ADDENDUM

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23File #15-207

V\lllham K Boyd.Inc.

LEGAL DESCRIPTION:

Beglo at the N E corner or the NW 1/4 of theSE 114 or Section 33, ToWllsblp 33 South Ruge 25 UJI llld rua South 747llnks; l.beate West 457 links to right or way or Allaollt Coal Line Railroad (IIOW U.S.Hlgtaway 17); tlle11ce North 14 degnes 30' West 761 links; tht11te run East 6 16 links to P.O.Bf, I)ina ucl btlnt l.n the Northeast part of the iW U4 or S£ 1/4 of Section 33, To.....sblp 33 South, Range 25 East, Hardee Co•nty, FloricbAndOtf:ln at the Northwest cornu of the Northeast 114 or the Soutbeast 114 of SectiOn or Section 33,Township 33 Soutll, Range 25 East, rfardee CoUDty, Florida and run tbtntt Nortb 89 degrees, 48 mla ults,39 seeoads East aloog the North Bout dary thenof, 441.66 fttt; thtace South 00 degrees, 10 mlautts, 53 secoods East, 493.96 feet; thence North 89 degrees, 58 minutes, 39 Jeeoods Wtst, 441.66 ret; thence North 00 degrees, 10 mlnu tca, 54 seeonds West, 492.33 feet to the point of blnnlna containing 5.00 acru.

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HARDEE COUNTY PROPERTY APPRAISER INFORMATION:

24File#15-207William K. Boyd, Inc.

I

T

,are to

J{ardee County Property .JlppraiserKathv L Craw ord

Seles.'" Areei H tPa l!---------m m M ••rI·oqel------._---·· · · ·· r H omel,Owner and Pa rcel Inf

ormationow,er HarneMol lUng Addt-e'J>S

SMM WAUCHULA U.C2SOO lNOUSTfUAS: lllEET Parcel N umber 3J..3l 2S 0000•08130 0000

UES8U-l474_& TilJt _!>k ltlc::l NlN TEO C N1Y (Otsulct 900}l dres_l)f'OIJ<>rtyge_.5e<11on Town,.hlp Raoqe

1340\ISHWY l1H 201NIII291L_A..I_!_ 16.8289 _ 1 uGHTMANUtoo:;loo)_ Acre 4 091

-r l l 3J..2S ltontete".ld NJsCo!ec!mE! ! I ShowParceiMa p l Oener«eCJowner By s l Ca.niV1ewPrm t l 9tow HSICWIOetJ I

Bulk1lnq Value

Value lnf or.ua tion12 Q:ort>fil"d Values 20ll C hfled Va!Ui!'$1 201'* rtlf..ed Vaii.IKJ

t.ill,t23 13J 3.sn s10_!,o7

-.!l6,S( Ira feature Value

La.nd Value1

Ldlld A9ritnUur;.lVO\Iue

lc ullurat (Market) va.tue

Ju..l ( ·lrkll"l) VOll ue•

S 7,06o4SJ56.

so so

S707..607

$36,832.t$356.

so, so

$706,824

SJ .soSO 4 09At:.BEGATlliE- N£ COR Of THE NW/I4 Of THE SE/! 4 & RUN 747LKS"THEN W '1157LKS TO

R/W Of ACL RR THENN 14 ot;G :W HIHW 761 I,..KS llieN RVN E 616KlS TO POB 33 335 2SE306-P60S 404PSll(SP £XC) 487P69489P2,2g S28P44 (CA-96·1 3) S32Pl7 S67PlSl 6SSP?ZS

S706:i2• S_?02.09S

so

6W'68>

The legal descripUon "how n hetll ma y be cond nscd for .ts essm t1nt pu rpo1oot.-s.Exact description shoutd be obtained from the re<orded deed.

Ty'"'MFGLT•WEL

Roof cover

MOO MEtAl

lnt klrWall

6-

I OOrh

CONC fiNSHHe;_Unq !):pe

HOI<€

TYJM' WAREH STOR

fllt('llvVear Guilt1966

To ea -y-- Gross leasable Area f erior wan - - cover tnter wanI, 344 0 CORO METAL MOO HEJAL MIHIHUH

'Q.;udln!J Skctth

-l!."!l!!SI<SCII !

FtoortngCONCANSH

u t linq ly A/C-Type St o_ ACtuo1l Yf',,;-RuiU t:ff« t v i e Wr-8ullt

---HOH!

O- NONE --

l 1985 i985

TYJM'OA'ICE I

1.•)4

Gross sableAre.J £xtcrlorwallA&<MAYG

Root coverMINIMUM

lnterto.rwauOOMYAU.

flooringCARPET S.HT VIHV'L

Heau.ng TypeAIOOCTED

A/C TypeaNTRAl

Storle.s1

Actual Year Built £He<tlve. v ar 6ul11;!003

E xtra Fe a tu reData

U llll.tttqlhxW idthx He'lCJ"oxoxo0l(0X6

-l-----_.;.-----+------ 148x40 w 0-- -------- ----------4----------

028-xl-O-X-O

90X8 X O

--1----------....!.------------------ J0 X )6 X 0

HUNGER OF UNJCTOS:;;-- _L;:::•:.•:d:..:;nformatoi nLAHD USEUGHTM.FG f 178210

UNJTfYPESF

05 13·2.005 $ 700.000

Ol:·OS-2004 $ )8,500

03·)1·1999 '$ .300.000

Doctuner1 •lns.tnuntom OR le QuaiUlc:a,ion V;,('.)UI or nnproved

oecd Uuok.l..£!9WARRANTY DUO 682 I682 lMQIJMttleG lmprovtd

QVITCW eeo 65817 . '-"" """eel l mpt.....O

WAARAHTY DEED 5671151 unqua <ned Improved

Gr;J ntor

LEA FAAilY PARTNERSHIP ttl)

NOI.AN JOSEPH J TTtE I'V8ASS lRREVOCA8lf TRVST

FIRST NATIONAl,.. SANK OF WAIJ04UL.A

SMM WAUCHULA U...C

l.fA FAMYilPARTNfA$HIP 1,._1'()

HO\AN X>SEPH J TRUSTEe

07-14·1997 $1 CERTIFICAT( OF TI1l.E 532 / 197 '!·· ImP! 8-HUGH 6A-A-O-t..eY CLERK Of

CO-URT

FIRST NA _!OF W.t, U

06-<11·1995 01 unquakfled

OS.•.C)l•t99S s .ooo 17 487169 Uhquohfied

03-oJ-1985 $ 250.000 DO 306f 605 Quailntod

QW>nec

Improved

ImprovedImproved

Improved

GROWERS CONUEcTION lNC

@Pr"'fnt!om I Ritum to Me'ln Se rch Paoel Appratse-r Homel---

q:::r:Ec:;;;:.o;:::a' = u= c;:,:( = mc;tesa::atn = =:v=:' Tt= ==ns::;e nt=:: e$:Sub)ta <htn Jt". WebSite Ul)d.Me-d:AUQlm 16. 2015

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PROPERTY CARD:

AOP" lOU 215 2288 17821 ) ..08'7''2001OSTO) 210 50 105 818CAH U 54" 30 U4l 12798

-

.

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.

.

25File#15-207William K. Boyd, Inc.

Hardee County Property Appraiser Property Record Card 33-33-25-0000-08730-0000nc. hrd.s• \y f""SKn::J' lpplf'aU•r'• Of !tea ...•,..._.y eft t. to p.fW• • Utfot a. .atl- ,.e••U..h. ao -.rra=.d••· ._.,_.,.,,,. oC' iapU...&, ua pJ"Mld..t ter tk..S.t.a N%U.., f.u - • cos- iat•?n;.•.U•. ll;c ..._,_t i&fos.aU- b fna tJw -•U..a u..:rollh _,_t t.o ·4 .09 AC BEG AT TBB. HK COR OP SJ!M "AUCHtJI.A LLC )).)).25-0000-097]0 .. 0000TRI: NYfl 4. OP THJ: 8Bl/4 a RUN S 2500 IHDUSTIU.A.L &TJlDT

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sn n- n. 25KaT UO 04 109,07, 8LDO

' • 8DR>IJtSTa 10 STQL l'1lld RMS

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·-·-·-14----·

19" lfYB (PUD1AC

&LX

•.0913,,599 Xl'OB

15,,{20 t.\lil)

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nrrw HCRT\ PII'I'R

I'LOil 03 QO:IC FDISII STYS\ • ICOII

l P"Jil.D CK.:•LOCt 1)40 OS BWY 17 N WAOCHVU.

ICU1991 I1 1 I

lfTa)

APPR CDC!liDO

l.c>r

0 ct.A$0 JCXTUSI

702,095 JVST702,095 APPR

0 IIOIIDHTTP 01 NOtiK PVMCA/C NOIIJt SPCD

• 7 7• • t

II>.Pt •l-tC 702,095 ASs:D0 UPT•

QUAL 0) AVDACI DXPil llPlm" 0 l COliC SL.UI UD-1SIZI: ALL 00·2ea:n. UD- 3ARCH • UD-41"'IOt OS STZEI. UD-5XTCB UD- 'WHDO UD- 7CLI.S UD-8occ . UD-9COND 02 AVO \.

I IX I

...... --- -74----·-- ----------1,8 ------- --- .......

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TXDT 900 702,095 COTXIIL702,095 CHXIIL 702,095 O'nXIIL

1 .......................... 81.00 TAAV'ER.S:J ------------- IIAS19"•Sll4M10S81<110>18><251121 ><2tS3' AOP19 """tt9118W2Sif28><2t SU$USTaOlaWlSSUI15NU$ 11'73 ><122174 CAN199laii'7 UI7UHS7U IUS$.

a ............... ... Pa:RHITB -······· - ······

SDB A· AA.I:A \ E·AR&A.BAS" 28380 100 28380

SOB VA.Ltrl: I I ' •-25+ +-+221084. • .... --....71--•- • -- _,._,- -.... --- -1.10---

..........

t NUKB.BR. OUC AMT I88tnmo•-ooo29 x P&uvu u,too 1/12/20otOl-OOHO COT OCC t /28/2001............................. SAL& ..............................BOOK PAO:I DATE.

U2 U2 5/ll/2005 D I, aa.AHTOR LU. l'AHil.T PAa'THDSliD LTD

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'51 725 2/05/200. U I 18500• GRANTOR NOLAN JOS&PB J T'TU: H/ 8ASS IlUli:VOC'

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1080.000 SP19000.000 .,

15tO.OOO t.r5920.000 171'

HO.OOO sr too.ooo sr

t .)001.500t .9.3802.1002.100

t.lOO1.500

'9·.3"800 PD

35.002.1002.100

,0.0035.00)5.0035.0015.00)5.00

92..915'

2,5" u.tH

1182U

LAIID D&SC %0112 ROAD DaiS COHO PRONT DEPTH PIIrLD ex,U CODS TQPO UTU. U"P ATP BA.C& OT A.DJVSTKKN'J'S tm'ITS UTIf 004100 LIOBT 111'0 C•2 0010 502 355 1.00 1.00 1.00 1.00 178210.000 SP PRIC'& A1>J trT Plt l,.AND VA.LtlB

2.000 2.00 l5,,HO

Page 28: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

PROPERTY CARD (CONTD)

26File#15-207William K. Boyd. Inc.

1'

Hardee County Property Appraiser Property Record Card 33-33-25-0000-08730 -0000 Tb• lkrd"CooM.t-y rn.p.ny lon>Taleu•• Office ..U..• .,...'T -.Uor-t. «:o p-roWe• th.e -.c ••t-• ialo;,..tt- ro-•U.l•• •o tiu. U JT••-4 n Ullpl.L.d, u-e f'TO"f'14ecl for- t.hd.au. IMr.U. iu 1M-e OT lau.rpreut.i - . t'IM ....,_, iaton.-d-.l• f.,_ tJM -r!t.tat t..uuo11 .ad U ..&.Je<i!lt 1-0 :e:.baA!•·4.09 A.C.

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TRK h'1fl/ 4 01 TKI S&l/4 fl. JtUN $747 t.JtS TUN 1f 4 57 1Jt8 TO lt/1<OP ACL Q. THIN N 14 DIC )0 JaN

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CARD 002 of 00)PUNTa> )/05/2015 8<2) BT BUDAna l/18/2009 ao

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12, i27 ROf 1985 Aft HXT A.R.&A 04"-00 \OOOD 9.748 8 IILDC VlU. 1985 &TB (POOl

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309.0" BLOC H,599 xroaltBTit 1 o ann Pltlllt ltl<BRC'Va 1l MOD KETAL tnn'S' . e-w\.

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---- - ---- - - -- --- - - - -- -- -- -- - -- - - - - ---- - --- - --- - --AC

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1 4 8 1 +-- - - - --- - -- ---- - ---41----- - --- ------ - - -+ SOJlD1.0 1 IBA.Sl91lS I 8.LX.

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4.091 )55, 420 LANt>o eus0 MXTtnR

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Page 29: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

27File#15-207William K. Boyd, Inc.

1

PROPERTY CARD (CONTD)

Hardee County Property Appraiser Property Record Card 33-33-25-0000-08730-0000

(.09 AC liiiO U nut 11W COR OP S>a< WAUOii1L.\ LLC ll-ll-25- 0000-01730- 0000 VAll 20 U 20U RTH:t N'Wl/4 OP TO SRl/4 6 RUN S 2500 nmusTttAL STU:ft CA.RD 001 of OOJ74 7 LD TKnf W 457 US TO R/W LUSBtJRGI. Pt. 14748 PRDfTID )/05/2015 8t23 8Y BUD OP A.CL RR THIN K U 0&0 )0 JaN APPR l/18/2009 &0

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Page 30: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

HARDEE COUNTY PROPERTY APPRAISER GIS MAP:

28File#15-207William K. Boyd, Inc.

Page 31: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

HARDEE COUNTY PROPERTY APPRAISER INFORMATION (CONTD)

Sllh:IMJ.t

OS·J3-200S s 700.000

lfKitumern

WAAA./4HN OE:EO

OR0«<1-k/ PO<Je

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so

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--

29File#15-207William K. Boyd, Inc.

Jfartfee County Q>roperty JlppraiserKathv L Craw ord

Prevtous .Parti!l Ae!!So:mwf

Owner Qlnd Parc:el ( nfonnation

Retum to Maff\ Search Pagel

OWIK':rNolft)f!

...llllng A(l r"C!S

lot.atlon AddressPropertyU<kt9f!SU11;,;r;w,,,.;;l • R..uu,

S AUCHUlA W:2500 INOUSTfUAI..STR.EE'ILEE·£L )4748US HY/Y 17 N

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A IYoatue ExOlt!.!, Y_.tlaxabfe value

S_6j.l4.0.S6S,J.40

S60,5oo

S60,500

S.l-40

soS6S,340; siS.

soS6S,340

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.SO The:legaldesalptJon hown here nt<y be conden1.ed for assessment purposes.Ex-actS6S,lo&O doesc:rtpl1on should be oblalllt'd f rom the recorded deed.

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..,. _::=B-.u::i;:l:d:ing

lnformationNo bu1Jdu1gs assoaatKI 'Mth thtS parcel.•

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NUMO(k Or UNITS

2178

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$"o!!lmn Arii.J PreYIOU<S arcell fl!:!ct l?sfnbom f etum to M•m Se.ucf\ Paoel Appraiser Home(

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tod't .Wte Pda;td: tl_!.,l 1S

_ _t :o•••n·• .tc....,..r u.-·M,ft. WtWttM ·r

Page 32: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

5 AC 880 AT N'K CORHD OPlflrl/ 4 OP 8&1/ 4 OF Sllct'IOH RON

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..

30File#15-207William K. Boyd, Inc.

PROPERTY CARD:

Hardee County Property Appraiser Property Record Card 33-33-25-0000-05350-0000

as-raB

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mrrs

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2.000 .)0

Page 33: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

HARDEE COUNTY PROPERTY APPRAISERS GIS MAP:

31File#15-207William K. Boyd, Inc.

Page 34: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

SUBJECT PHOTOGRAPHS- MODULAR OFFICE UNIT

32File#15-207

Vllilliam K. Boyd, Inc.

FRONT

REAR

RECEPTION/WAITING AREA

NORTH SIDE

SOUTH SIDE

OFFICE

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SUBJECT PHOTOGRAPHS:

33File#15-207William K. Boyd, Inc.

OFFICE OFFICE

OFFICE RESTROOM

OFFICE RESTROOM

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SUBJECT PHOTOGRAPHS:

34File#15-207William K. Boyd, Inc.

BREAKROOM

ELECTRICAL PANEL SIDE A ELECTRICAL PANEL SIDE 8

Page 37: hardeebusiness.com · Web viewThe subject is located on the east side of US Hwy 17 N, approximately 1/81h of a mile south of a signaled intersection. US Hwy 17 N serves as the main

SUBJECT PHOTOGRAPHS -TENT CANOPY

35File#15-207William K. Boyd, Inc.

SOUTH SIDE

INTERIOR

STEEL FRAMING

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SUBJECT PHOTOGRAPHS- MODULAR METAL BUILDING

36File#15-207William K. Boyd, Inc.

WEST SIDE

--

AIRIFlER

WEST DRIVEWAY

WATER SYSTEM

WESTSIDE

SOUTH SIDE

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SUBJECT PHOTOGRAPHS- MODULAR METAL BUILDING

37File#15-207William K. Boyd, Inc.

INTERIOR OF DETACHED BUILDING

WEST & SOUTH SIDE OF DETACHED BUILDING

EASTSIDE OF DETACHED BUILDING

INTERIOR OF DETACHED BUILDING

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38File#15-207

Vllilliam K. Boyd, Inc.

SUBJECT PHOTOGRAPHS- MODULAR METAL BUILDING

,...

- r --) -

.· .j·-· .

EAST SIDE & STEEL FRAME CANOPY

STEEL FRAME CANOPY

WESTSIDE

EAST FIVE ACRES

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SUBJECT PHOTOGRAPHS- MODULAR METAL BUILDING

39File#15-207

Vllilliam K. Boyd, Inc.

INTERIOR

INTERIOR

ELECTRICAL PANEL

INTERIOR

INTERIOR

ELECTRICAL PANEL

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40File #15-207William K. Boyd, Inc.

SUBJECT PHOTOGRAPHS- MODULAR METAL BUILDING

INTERIOR

INTERIOR

RESTROOM

INTERIOR

BREAKROOM

\

RESTROOM

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SUBJECT PHOTOGRAPHS- MODULAR METAL BUILDING

41File #15-207William K. Boyd, Inc.

ELECTRICAL PANEL

WEST SIDE METER

ELECTRICAL PANEL

ELECTRICAL PANEL &METER BOX

ELECTRICAL PANELS

METER FOR MODULAR UNIT

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SUBJECT PHOTOGRAPHS

42File #15-207William K. Boyd, Inc.

ELECTRICAL SUB-PANEL

HWY 17 N FACING SOUTH

DRIVEWAY

HWY 17 N FACING NORTH

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43File #15-207William K. Boyd, Inc.

William K. BoydState-Certified General Real Estate Appraiser RZ338

Main Office1564 lakeview DriveSebring,FL 33870Phone 863.385.6192Fax 866.384.0258 [email protected]

Satellite Office410 Northwest 2nd Street

Okeechobee,FL 34972

As a Real Estate Analyst and Consultant I have been actively engaged as a realstate broker/appraiser since 1982 and as a State-Certified General Real Estate Appraiset since 1990. I am qualified as an expert wilness in the State of Aorida's 10th Judicial Circuit Court that includes Highlands.Hardee and Polk Counties & the 19th JudicialCircuit Court thai includes Martin,SLlucie,Indian Rivet and Okeechobee Counties.

My experience as an appraisecincludes lhe valuation of many types of properties including residentia,l recreational, agricultural, commercial,industrial. special purpose, eminent domain and acquisition/disposition counsel ng and litigation support in coMection with real estate transactions. I stay cwrent with the market and am active in my community. My primaryservice area covers most of south centralFlorida.

APPROVED BY THE FOLLOWING LENDING INSTITUTIONS

1"United BankAg Country Fann Credit ServicesBank of America Bank of Bene Glade Bank of Central AoridaBankers Soulh Lending & FtnancialBB & T LendingBoston PnvateBank & TMlChase Manhattan MortgageFann Cred'rt of Aorida

First 1BankFIISI Bank of ClewistonFust Bank of LaGrangeFirst National Bank of WauchulaFirst State of Arcad'ra Harbor Community Bank Heartland NationalBank Iberia BankMid-Florida FederalCredit UnionOld Florida NationalBank

PNC6ank Regent Bank Regions BankSeacoast NationalBankSun State BankSunshine State FederalSavingsSunTrust BankTO BankUSDA Rural DevelopmentWauchula Stale Bank

PROFESSIONAL AFFILIATIONSHeartland Association of RealtorsAorida RealtorsNationalAssociation of Realtors

Heartland Multiple Usting ServiceMy Aorida Regional MLSPGPCNP Association of Realtors

REFERENCES

Mr.James ClinardHeartland National Bank

320 US 27 NorthSebring,FL 33870

863.386.1300

Mr.Kerry MeekerWauchula State Bank

106 E.Main S1reetWauchula,FL 33673

863.n3.4151

Mr.Steve Prielozny Bank of Belle

Glade P 0.Box790

Bell e Glade, FL 33430

561.996.6711

Mr.John ShoopHarbor Community Bank

2600 US Hwy 27 NSebring.FL 33870

863.402-3880

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William K. Boyd

44File #15-207William K. Boyd, Inc.

2014-Continuing Educatoi nFREAB ;9205 NaoonalUSPAPUpdate EqiM'/alent (2014-2015) AOS #10059FREAB!:8933 Florida Appraisal Laws and Reg!AalionU' pdate AQB 0055FREAS #9061 Fl1A lor TodaY$ Appr&ser AQB !!10055FREAS ;5160 M>o')'m n.. """ik.>:aonsdAf:pr;ls.liAiul,.ts (3-ru)AQB #10059FREAB #9135 RellleYIV$ Cheddist AOB ;;10059FREAB =9158 UAO..UpCiose andPetSOMI AOS:10069

201 2-Continuing EducationFREAB =741 Florida Apr·s S!a!e law Update OBPR :!2429FREAS:;8906 t-latJonal USPAPUpdate (2012-20131AQB:10059FREAS il7742 n-.e Dirty DozenFREAB 118838 The Nuts & Bolts of Green Buiding lor AppraisersFREAS =8976 Apptaital Applicati!Mis ol fle9eswn AnalydsACE =8961 Dairy AppralSalSemmr ASfMRA Apploved ;506

2010-Continuing EducationFREAB ::'1333 Florida laws: and Regulalicm AQB 10059FREAB ;8723 NaoonalUSPAPUpdate (2010.201 )AQB;;I0059FREAB ;8237 Flam -tr.llno!-.& AQ8;!10059FREAB :;8712 Risky611$11ess: Wayuo IJNnuze LiabA!y AOS #10059FREAS =8714 The Changing Wof!d of FHAAppraimg AQB :10059

2008--Conlinuing EducationFREAB :7333 Flonda laws: and Regu!aliort'AOB !!10719FREAS:7301 N3DOnal USPAPUpdate (2003-2009) AQB :r10719FREAS:8237 Aam T...,..,_.& AOB 10719FREAS;;84211ntroducoon toExpert Witness Tesfrnarty AQB !!10719FREAS ;8063 fv-_n Odllet More Oda-oal Apptaicak AOB:10719

2006--Continuing EducationFREAB ;;7333 Florida laws: and Regulation'AQB ;10239FREAS:7631 Disclosures & OisdammAQB t\0239FREAB ;;7672 The Cost Approadl AQB #10239FREAS#7669 """"""9h &Dthii-AQ3t10Z39FREAS il76£6 NaoonalUSPAPUpdate AOB #10239

2004-Continuing EducationFREAB flonda laws:& Regllaoons ACE il7333FREAB mcome capSI!zaoon ACE 8FREAS National USPAP Update Eqavalent (200() ACE :7332FREAB Developing & GrowJ\g an ApprarPtaellce ACE #6929FREAB Factory Suit HOU$lng ACE :6927

2002-Continuing EducationFREAB CommUJIICalin4 theAppral$al ACE 1-22FREAB Residentlal SubcfVJdon Analyss ACE -24FREAS ApprResea!C:h and IS ACE:it-23FREAB Net;hborhood Analy"-S ACE #1-23FREAS Sales Comparison Approadl ACE !!1-25fREAB FREA l..icooftw Low&Bo.:rd ACE:1-27

2000-Continuing EducationFREAS How tD Appralu a Business ACE #1519868500FREAB Urufonn StandaJds of Professional App!alulFREAS USPAP an<l Ftoma Chapter 475 Part IIFREAB Apprarsallaw ACE :2162

1998-Continuing Educationcase Sllldiec in Unllorm Standards Pan A &

B RealEsta:e EducatiOn Speaa!IStsStandardo' lPto!euiorlalPracdcePan A & 6

The AppraiSal iliU!!eUSPAP Law Update

RealEifate E tion

1996--Continuing EducationStandardsRei/leW & law Update S.OA

Na!lonal Associa on orIndependent Fee AppraJWSlarket AbsD'action Review I2A

NatiOnal Assoclafion of Independent fee Appra!Sen;Reviewwlg ResidentialAppraiSal4' 6

NaaonaJ Associ.JUon of Independent Fee Appral$el$

1995 ontinuing EducationFai-len<lng and lhe Appraiw ACE #1727

The Appraisal !Ule

El!lcs and Professional StandardsFkrila AuociatiOIIof RealtM

Apprarser litigation andCore law (199()

1983-88-Continuing Education1988 ResldenbalValu &am 3-2

Amencan Institute of Reill Estate Appraisers1987 Case SiudJeS in Real Eslate Va. lion Exam 2-1

Ame'ltanInsEluteolReal Esta;e AppraiSe1985 Capitaizalion Theofy andTechNqueP;art A-Exam 16-A

Theoly and Tedlnlques Part wn I6-8

AmentaniMbtute of Real Estate ApFf1983 Standards of PtoflPraCIICe Exam 2-3

Basic Valuaoon PtoceduExam I A-2

RealEtia:e Appra.salPrinapals Exam 1A-1Amencan ln'ttuteolRealEwte Appraise

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William K. Boyd

45File #15-207William K. Boyd, Inc.

ADDITIONAL SEMINARS & TRAINING

2001 The New Floncla 6uil<ing code &Resldel\ alB111dtJCIL6 5949Florida Home6ulde<s Assoaallln

1994 Bec110-Magn$:FieldsWest Cllast Floricla Chaplel APfli'WIIn$11Me

Undemanding Umked ApptaJ$c11s & Repomg Options ReadenlialAjlpraisal Re'tleW

East Aoricla Chapw ApptalsaiiMb!ute

1999 CIIM Seminar--RfAI.TORSland IMtilllteThe Good, The Sad & The BoardWe$! Coaslfloricla Chapter Apptaisallnd:ure

1992 CcMSel!1lrlatFarm and land lndw:e

Real Eswe Owned PropeltleSFederal Nanonal ldottgage Associa:aon

1998 Unde$1iln<fng and lklng OCF So:twaze ACE :2178

We$!Coast Aonda C p:er AppraiW lns®le

1991 MandaiOIY Appra:salRelorrn JoM Neven, Man*tFNMA Property Slanclards OMslon

1997 AppraiseFlorida Cote law ACE =1814Flonda nderr aiiOn Valuabon & AppraiSer llablli!yWe$!Coastl'lolm Chaplet Appraisal

1990 Pe1SIIasive S!yie In !he Narralive AppraiSal ReportAmenean lnsitt.eof Real Eilllte AppraiSers

1998 Citm SeminarREALTORS Land lnslitu!e

1987 Accrued edation Bleakdown l. lhodReside llal Oemonstra11011 ApptalsaRl eport W g

Amencan Institute of Real ES aie Appraisers

1995 Eminent Domain andme RealEslate AppraiserWe$1Cllast Florida Chaplet AppraJSallnmu:e

1986 kighwandSWUseAmeriCan IMtilure of Real Es«ate Appraisers

CURRENT LICENSE

EXPIRES NOVEMBER 30,

2016

RICk SCOTT,GOVCRNOR KEN LAWSON SECRETARY

STATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL

REGULATION FLORIDA REAL ESTATE APPRAISAL SO

Too CERTIF ED GENCRALAPPRAISERNained below IS CERTIFIEDtJndCr prtiYISlOII OICflaoterA75 FSExpualioo dlrte. NOV 30 2018

90YO W.l.LIAM K1564lAKEVlEWJ)REBRING ft33870

ISSUED 09G2120•• DISPLAY AS REQUIRED BY LAW SE01tl1