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Abatements #4223 & #4224 - Wal-Mart & Sam's Club 3
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<br />Sales Comparison
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<br />CITY OR AREA
<br />Minneapolis Suburb
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<br />Minneapolis Suburb
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<br /> YEAR SALES
<br />DATE SIZ~E BUILT PRICE SPISF
<br />Sep-98 35,904 1998 $4,800,000 $133.69
<br />Dec-95 49,104 1995 $4,145,800 $84.43
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<br />St Paul Suburb May-96 26,387 1995 $3,000T000 $113.69
<br />Minneapolis Suburb Feb-95 38,145 1994 $3,725,400 $ 97.66
<br />St Paul Nov-98 131,656 1995 $5,800,000 $44.05
<br />Minneapolis Suburb Sep-O0 49,104 1995 $2,500,000 $ 50.91
<br />Minneapolis Suburb Jan-O0 48,960 1995 $2,500,000 $ 51.06
<br />Southern Minnesota Feb-96 130,018 1994 $8,450,000 $64.99
<br />Southern Minnesota Feb-98 86,479 1990 $3,862,700 $ 44,67
<br />Southem Minnesota Oct-99 86,479 1990 $3,740,000 $ 43.25
<br />Southern Minnesota Oct-99 86,479 1989 $3,564,000 $ 41.21
<br />Detroit Lakes Oct-99 86,479 1990 $3,69~,000 $ 42.74
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<br />Southern Minnesota
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<br />Sep-97 89,273 1995 $3,800,000 $ 42.57
<br /> AVERAGE SF PRICE $ 6S.76
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<br />The above sales were collected from a number of assessors and appraisers and represent the
<br />most current large retail building and land sales available in the region. All information is
<br />considered accurate. Actual address locations, in most cases, cannot be indicated because the
<br />sales were confidential. The Detroit Lakes K-Mart is thc exception. Thc following three
<br />sales have special circumstances involved with each.
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<br />CITY SALE DATE SIZE SALE PRICE PRICE/SF CONDITION
<br />St Paul Suburb Jan-93 114,678 $ 3,620,000 $3t.57 Bldg only
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<br />Minneapolis Suburb Nov-94 ~ J ~,~(~6 ~ 4,6~6~90P $~0.34 Bldg ?n!_y_
<br />Minneapolis Suburb Jan-90 154,141 $15,400,000 $99,91 Excess land
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<br />STORE
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<br /> Wal-Mart and Sam's Store Assessment Comparison
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<br /> YEAR SIZE ASSESSMENT ASSMT ~;ISF
<br />Wal-Mart 2002 118,880 $5,940,000 $49.96
<br />Sam's Club 2002 117,958 $8,798,000 $49.30
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<br />The regional sales comparison indicate a low of $41.21 per square foot to a high of $133.69
<br />Ibr a 1998 sale. Thc average of those 13 sales equals $65.76, One can tell that location is a
<br />major determination in the sales price The Fargo Wal-Mart and Sam's are located in a very
<br />desirable retail area of the city.
<br />
<br />Based on comparable sales the current value on Wal-Mart and Sam's is a reasonable
<br />estimate of market value.
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