1. Abatement hrg/Kmart Corp. - Laserfiche WebLink

Abatements #4230 & #4231- Kmart Properties Located on 13th Avenue S & University Dr S True & Full Value: Applicant's Value: Sales Comparisons: Income Comparison: Market: Owner's Income Tax Schedule: 6 SUMMARY _13TH AVENUE S KMART $4,792,000 $3,409,600 95,096 SF 95,096 SF $50.39 / SF $35.85 / SF Regional sales indicate an average sale price of $57.68 per square foot and a median sale price of $44.05 per square. The true and full value as indicated is supported. The property is currently leased on a long term basis at $550,390 annually. The current lease is supported by comparable lease data with the following indicated values: $4,794,500 95,096 SF $50.42/ SF Cost Comparison: $5,130,000 95,096 SF $53.95/ SF Building Only: Building & Land: Current cost data indicate building costs of $49.19 to $51.88 per square foot of building area. A cost estimate, back dated to January of 2000, indicates the following (rounded): $3,672,000 95,096 SF $5,007,000 95,096 SF $38.61/ SF $52.65 / SF SUMMARY - UNIVERSITY DRIVE S KMART PLAZA True & Full Value: A licant's Value: Sales Comparisons: Income Comparison: $3,574,000 $3,170,400 109,529 SF 109,529 SF $32.63 I SF $28.95 I SF Regional sales indicate an average sale price of $57.68 per square foot and a median sale price of $44.05 per square. The true and full value as indicated is supported. The Kmart portion of the improvement is currently leased on a long term basis at $371,200 annually and is supported by comparable lease data. Additionally, the Strip Center and Burger King are income producing, or investment, properties that provide additional lease revenue as recapped on a following page. The indicated value is (including the ATM square footage): $4,130,900 109,529 SF $37.72/ SF Cost Comparison: Buildings Only: Buildings & Land: Current cost data indicate building costs of $49.19 to $51.88 per square foot of building area. However, due to the age of these improvements, these costs provide an extreme upper indication of value. A cost estimate, back dated to January of 2000, indicates the following (rounded): $3,142,000 $3,830,000 109,469 SF 109,469 SF $28.70/ SF $34.99 / SF