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Amber Valley Pkwy Office 4816 Amber Valley Pkwy S <br />Parcel Number: 01-7520-00200-000 Owner: Amber Holdings, LLP <br />Information provided above is a summary of the analysis conducted. Full analysis is provided in the Assessment Department’s work file. <br />Appeal of Assessment for Year: 2023 <br /> Name of Applicant: Patrick Vesey <br />Assessed Value(s) 2023 2,719,500 +11% <br />2022 2,460,500 <br />Applicants Requested Value(s) N/A N/A <br />General Property Information <br />Property Type Office <br />Year Built 2005 <br />Building Area (Total Above Grade) 14,796 sf 183.80 / sf <br />Gross Building Area (w/ Basement) 14,796 sf 183.80 / sf <br />Land Area (Allocated) 66,762 sf 10.99 / sf <br />Fargo Assessor Recommendation 2,719,500 0% <br />Summary <br />Appellant has not specified an indicated market value. Appellant has concerns with the equalization of the subject versus adjacent office <br />properties. The subject sits in an office park type area with commensurate buildings. There are similar buildings in the immediate area that <br />are valued at $164 and $161 per square foot. <br />The subject property is a one story office building, built in 2005. It located near Sanford Medical Center, or near Interstate 94 and 45th Street <br />S.City staff reviewed the value of the subject and adjacent properties with a desktop appraisal. We find the subject to be appropriately <br />valued, and the properties of concern to be under-valued. We support the value of the subject with the sales comparison approach. The <br />sales comparison approach is summarized below. <br />Comparable Sales Summary <br />Address Size Size <br />(Gross) Year Built Sale <br />Date <br />Sale Price (with <br />SPUN) <br />Sale Price <br />(Adjusted) Price $/SF Price $/SF <br />Gross <br />3050 Sienna Dr S 13,458 13,458 2011 09/2022 3,294,300 3,051,493 226.74 226.74 <br />4770 Amber Valley Pkwy S 5,239 5,239 2016 03/2022 1,315,400 1,090,122 208.08 208.08 <br />3415 39 St S 13,000 13,000 2005 12/2021 2,472,500 3,019,398 232.26 232.26 <br />1531 32 Ave S 14,267 14,267 1998 08/2021 2,101,200 2,691,093 188.62 188.62 <br />Subject 15,728 15,728 2006 3,165,000 213.91 213.91 <br />Competing Properties (Assessed Values) Summary <br />We studied current assessments of similar properties for equalization. The <br />search parameters are parcels in the “Interstate-Southwest” map zone, <br />with an office property type, built between 2001 and 2011, with a land <br />value. <br />The 2023 true and full value sits between the 25th percentile and median of <br />this data set in all units of comparison. The adjacent competing properties <br />are valued between the 10th and 25th percentiles of the data set. <br />Value /SF Value /SF <br />GBA <br />Value /SF <br />Impr Only <br />Maximum 335 332 257 <br />90th Percentile 247 247 206 <br />75th Percentile 216 214 172 <br />Median 200 199 150 <br />25th Percentile 177 177 130 <br />10th Percentile 147 143 107 <br />Minimum 74 74 66 <br /> Subject 183.80 183.80 134.19