Purpose of Report: Determine a value for the building under Power of Sale proceedings.
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- Claribel Lamb
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1 Subject Property: The subject property is improved with a one-floor industrial building that contains a gross floor area of 5,370 square feet. The building was built in There are 1,611 square feet of office space with 445 square feet of additional finished production office space within the building Purpose of Report: Determine a value for the building under Power of Sale proceedings. Value: $350,000 Result: The property has been exposed to the market place. There is currently an offer for $340,000 Methodology: DCA. Using Qp Stronach Crescent Date of Sale: Oct Sale Price: $300,000 This 40,946 square foot site is located on the corner of Stronach Crescent and Clarke Road. This location would be somewhat west and north of the subject property. The site was improved with a 7,000 square foot masonry industrial building with 266 square feet of office space. The ceiling height in the building was 15 feet. The building was built in Site Size (Sq.Ft.): 40, Building Size (Sq.Ft.): 7, Sale Price Per Sq.Ft. Building Area Including Land: $42.86
2 2 11 Bayview Court Date of Sale: May 2002 Sale Price: $300,000 This 41,818 square feet site is located on a cul-de-sac (south side) of Bayview Court off of Clarke Road. The location off of Clarke Road would be well south of Dundas Street. This location would be a considerable distance from the subject property. The site was improved with a 3,579 square foot masonry industrial building with 1,807 square feet of office space. The ceiling height in the building was 18 feet. The building was built in Site Size (Sq.Ft.): 41, Building Size (Sq.Ft.): 3, Sale Price Per Sq.Ft. Building Area Including Land: $83.82
3 Oxford Street East Date of Sale: Dec Sale Price: $363,000 This 22,651 square foot site is located on the south side of Oxford Street East just west of Industrial Road. This location would be fairly close to the subject property. The site was improved with a 6,315 square foot masonry industrial building with 703 square feet of office space. The ceiling height in the building was 16 to 18 feet. The building was built in Site Size (Sq.Ft.): 22, Building Size (Sq.Ft.): 6, Sale Price Per Sq.Ft. Building Area Including Land: $57.48
4 4 2 Belleisle Court Date of Sale: Sept Sale Price: $365,000 This 21,780 square foot site is located on the corner of Belleisle Court and Sovereign Road. This location would be somewhat south of the subject property. The site was improved with a 6,450 square foot masonry industrial building with 1,725 square feet of office space. The ceiling height in the building was 14 feet. The building was built in Site Size (Sq.Ft.): 21, Building Size (Sq.Ft.): 6, Sale Price Per Sq.Ft. Building Area Including Land: $56.59
5 Sovereign Road Date of Sale: Dec Sale Price: $429,000 This 87,120 square foot site is located on the east side of Sovereign Road just south of Admiral Court. This location would be somewhat south of the subject property. It is just north of Index #4. The site was improved with a 7,800 square foot metal clad industrial building with 2,700 square feet of office space. The ceiling height in the building was 14 feet. The building was built in1999. Site Size (Sq.Ft.): 87, Building Size (Sq.Ft.): 7, Sale Price Per Sq.Ft. Building Area Including Land: $55.00
6 Sale Price Index Date of Building Size Address Sale Price Per Sq.Ft. No. Sale (Sq.Ft.) Bldg. Area 1 Oct Stronach Crescent 7,000 $300,000 $ May Bayview Court 3,579 $300,000 $ Dec Oxford Street East 6,315 $363,000 $ Sept Belleisle Court 6,450 $365,000 $ Dec Sovereign Road 7,800 $429,000 $55.00 Index Commentary The five indexes had selling prices per square foot of building areas between $55.00 and $ This represents a spread of approximately 52.0%. In order for these indexes to be meaningful to the subject property, the types of variables that have caused the sale prices to occur need to be identified. These variables must provide the basis for the adjustment process since variations between the subject property and the indexes exist.
The purpose of the appraisal was to determine the value of this six that is located in the Town of St. Mary s.
The purpose of the appraisal was to determine the value of this six that is located in the Town of St. Mary s. The subject property was originally acquired by Michael and Bonnie Etta Mattiussi in August
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