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<br />Abatements #4230 & #4231- Kmart Properties Located on 13th Avenue S & University Dr S
<br />
<br />SALES COMPARISON - KMART PROPERTIES
<br />
<br />7
<br />
<br />The sales in the following table were collected from a number of assessors and appraisers and
<br />represent the most current large improved retail property sales available in the region. All
<br />information is considered accurate. Actual address locations, in most cases, cannot be indicated
<br />because the sales were confidential.
<br />
<br />City or Area
<br />Minneapolis Suburb
<br />Southern Minnesota
<br />St Paul Suburb
<br />Anoka, MN
<br />Southern Minnesota
<br />Dundas, MN
<br />Minneapolis Suburb
<br />Southern Minnesota
<br />Minneapolis Suburb
<br />St Paul
<br />Litchfield, MN
<br />Southern Minnesota
<br />Southern Minnesota
<br />Detroit Lakes, MN
<br />Marshall, MN
<br />NewUlm, MN
<br />Minneapolis Suburb
<br />Alexandria, MN
<br />Minneapolis Suburb
<br />
<br />Date
<br />Dec-95
<br />Feb-96
<br />May-96
<br />Aug-97
<br />Sep-97
<br />Jan-98
<br />Feb-98
<br />Feb-98
<br />Sep-98
<br />Nov-98
<br />Sep-99
<br />Oct-99
<br />Oct-99
<br />Oct-99
<br />Oct-99
<br />Oct-99
<br />Jan-OO
<br />Feb-OO
<br />Sep-OO
<br />
<br />Average
<br />Median
<br />Minimum
<br />Maximum
<br />
<br />Size
<br />49,104
<br />130,018
<br />26,387
<br />86,479
<br />89,273
<br />94,479
<br />38,145
<br />86,479
<br />35,904
<br />131,656
<br />86,779
<br />86,479
<br />86,479
<br />86,479
<br />97,302
<br />99,449
<br />48,960
<br />31,502
<br />49,104
<br />
<br />75,814
<br />86,479
<br />26,387
<br />131,656
<br />
<br />Yr Built
<br />1995 $
<br />1994 $
<br />1995 $
<br />1991 $
<br />1995 $
<br />1991 $
<br />1994 $
<br />1990 $
<br />1998 $
<br />1995 $
<br />1989 $
<br />1990 $
<br />1989 $
<br />1990 $
<br />1989 $
<br />1989 $
<br />1995 $
<br />1978 $
<br />1995 $
<br />
<br />1990 $
<br />1991 $
<br />1978 $
<br />1998 $
<br />
<br />Sale Price
<br />4,145,800 $
<br />8,450,000 $
<br />3,000,000 $
<br />3,700,000 $
<br />3,800,000 $
<br />3,862,740 $
<br />3,725,400 $
<br />3,862,700 $
<br />4,800,000 $
<br />5,800,000 $
<br />3,350,000 $
<br />3,740,000 $
<br />3,564,000 $
<br />3,696,000 $
<br />3,740,000 $
<br />3,564,000 $
<br />2,500,000 $
<br />1,400,000 $
<br />2,500,000 $
<br />
<br />3,852,665 $
<br />3,725,400 $
<br />1,400,000 $
<br />8,450,000 $
<br />
<br />SP/SF
<br />84.43
<br />64.99
<br />113.69
<br />42.78
<br />42.57
<br />40.88
<br />97.66
<br />44.67
<br />133.69
<br />44.05
<br />38.60
<br />43.25
<br />41.21
<br />42.74
<br />38.44
<br />35.84
<br />51.06
<br />44.44
<br />50.91
<br />
<br />57.68
<br />44.05
<br />35.84
<br />133.69
<br />
<br />The following three sales have special circumstances involved with each and were not
<br />considered good comparable properties.
<br />
<br />City
<br />St Paul Suburb
<br />Minneapolis Suburb
<br />Minneapolis Suburb
<br />
<br />Date
<br />Jan-93
<br />Nov-94
<br />Jan-98
<br />
<br />Size
<br />114,678 $
<br />115,908 $
<br />154,141 $
<br />
<br />Sale Price
<br />3,620,000
<br />4,676,000
<br />15,400,000
<br />
<br />SP/SF
<br />$ 31.57
<br />$ 40.34
<br />$ 99.91
<br />
<br />Condition
<br />Bldg Only
<br />Bldg Only
<br />Excess Land
<br />
<br />The regional sale comparisons indicate a low of $35.84 per square foot for a 1999 sale to a high
<br />of $133.69 per square foot for a 1998 sale. The average of these 19 sales is $57.68 while the
<br />median is $44.05. One can tell that location is a major determination in the sales price. The
<br />Fargo 13th Ave S Kmart is located in a very desirable retail area ofthe city while the University
<br />Drive S Kmart is located in a more mature and well established area ofthe community.
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