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<br />Five Star Storage - 3255 43 St S <br />Parcel Number 01-6750-00310-000 Owner: Rocking H LLC <br /> <br />In our review of the value of this property, we compared the market based cost model valuations <br />on this and all similar storage facility properties. We determined the overall blended price per <br />square foot of all buildings keeping in mind age, condition, style of construction, amount and type <br />of office space, and the amount of climate controlled rental space. There was a range among all <br />facilities from $21.80 - $30.49 per square foot. The blended value per square foot of the subject <br />property's buildings is $24.89. The subject property has had 5 buildings constructed in the past 3 <br />years and does contain some climate controlled buildings as well as fairly large and better quality <br />office space. Considering that, it was determined that the building values for the subject are in <br />line with competing properties. <br /> <br />Review of the subject's land valuation revealed that properties in the immediate vicinity of the <br />subject were valued at $3.00 per square foot and the subject was valued at $3.50 per square foot. <br />Although there are recent sales in excess of$3.50, for uniformity we recommend adjusting the <br />subject land to $3.00 per square foot and adjusting for an unusable area needed for a water <br />retention pond. <br /> <br />The table below shows the current value of the subject property's land and buildings as well as <br />the recommended change in the subject land value (in green). <br /> <br /> <br />M ini-WlI'ehouse <br />Mini-WlI'ehouse <br />Mini-WlI'ehouse <br />Min;-WlI'ehouse <br />Office <br />Mini-WlI'ehouse <br />Min>WlI'ehouse <br />Mini-WlI'ehouse <br />Mini-WlI'ehouse <br />Min;-WlI'ehouse <br /> <br />01-67 5lHlO31G-000 <br />o Hi75lHlO 310-000 <br />01-67 5lHlO 310-000 <br />01-67 5lHlO310-000 <br />01-675lHlO310-000 <br />01-675lHlO310-000 <br />01-675lHlO310-000 <br />01-67 5lHlO310-000 <br />01-675lHlO 310-000 <br />01-6750-00310-000 <br /> <br />$626.600 <br />1 $762.000 <br />2 50 <br />3 50 <br />4 50 <br />5 50 <br />6 50 <br />7 50 <br />8 50 <br />9 50 <br />10 50 <br />To,*" AwrIiCft <br />TOIIlIIl & II) Idore <br />Total t. Aller <br /> <br />Rduttion for Pond <br />8775 $32.59 <br />6900 $18.54 <br />7950 $18.0] <br />]2]50 $17.47 <br />3252 $85.76 <br />]0800 $]8.]] <br />8]00 $115] <br />4880 $]9.65 <br />o 50.00 <br />9625 $30.]3 <br />n432 $24.19 <br /> <br />217.703 <br /> <br />$286,000 <br />$127,900 <br />$]43,200 <br />$2]2,300 <br />$278,900 <br />$]95,600 <br />$]49,900 <br />$95,900 <br />$23,000 <br />$290,000 <br />$1.102.700 <br />$2,564.700 <br />$2.429.300 <br /> <br />ASSESSMENT DEPARTMENT RECOMMENDATION <br /> <br />Adjust the current total value of the subject property to $2,429,300 for the 2008 assessment. <br /> <br />2.1. <br />wo <br />50.00 <br />50.00 <br />50.00 <br />50.00 <br />50.00 <br />50.00 <br />50.00 <br />50.00 <br />50.00 <br />