Agenda 04/23/2019 Item #11A (Randall Curve Parcel)04/23/2019
EXECUTIVE SUMMARY
Recommendation to accept the offer from Metro Commercial Development Group LLC in the
amount of $3,500,000 for the County-owned parcel located between Immokalee Road and 4th
Avenue Northeast (Randall Curve parcel) and authorize the County Manager to negotiate a
Developer Contribution Agreement with Immokalee Road Rural Village for the development of a
joint County and School District project.
OBJECTIVE: Accept the offer from Metro Commercial Development Group LLC for the Randall
Curve parcel and obtain authorization to negotiate a Developer Contribution Agreement with Immokalee
Road Rural Village.
CONSIDERATIONS: At the December 11, 2018 Board meeting, Agenda Item 11A, staff proposed
entering into an agreement with the Collier County Public School District to jointly develop a bus garage,
road maintenance facility and supporting ancillary facilities on the Randall Curve parcel. The Board
directed staff to proceed with project planning as outlined, while simultaneously allowing in terested
buyers to submit proposals to acquire the property. Subsequent to that action, at the February 12, 2019
Board meeting, the County Commission directed that the property be advertised for sale for a period of 60
days. The property was advertised for sale in the Naples Daily News on March 7th and March 14th, a for
sale sign was placed on the property and a press release was issued. A copy of the Affidavit of
Publication is attached. The County has received four (4) proposals for the property.
The most current proposals are outlined below and attached as back-up.
Proposer’s Name Date Received Proposal Terms
Shy Wolf Sanctuary (SWS) March 28, 2019 --Offer $1,000,000 for land purchase --Will construct a world class
sanctuary, educational and research facility surrounded by a passive use
park with trails for horseback riding, biking and hiking --Open to a Collier
County & SWS partnership be formed --Sell to SWS with a down payment
and balloon payment in 10 years (should larger price be required) --Long
term lease with SWS with option to purchase --Split parcel and sell half to
SWS & retain remaining acreage for another use
Metro Commercial
Development Group LLC
March 29, 2019 --Offer $3,500,000 for land purchase --Refundable Earnest money deposit
in the amount of $125,000 if Purchaser determines development of the
property isn’t feasible for Purchaser’s intended use --Not contingent on
property re-zone --Ninety (90) day feasibility period --Closing thirty (30)
days after expiration of feasibility period
Crown Management Services
LLC
March 29, 2019 --Swap 30+ acres located on corner of 1st Street on Golden Gate Blvd
extending to 3rd Street with request to designate a portion for a park --
Provide County with 1+ acres at Randall Curve site to facilitate a County
service building --Provide $750,000 in funding to facilitate the construction
of a community park or the funds can be used as the County sees fit --
Amend the Estates Shopping Center Sub-district and the Estates Shopping
Center CPUD to add the County’s proposed use and eliminate the
requirement for a grocer for the remaining 10+ acre tract at corner of
Golden Gate Blvd. & Wilson Blvd. to 1st Street NW, which would be
retained --Contingent upon receiving all necessary required County/State
approvals for the commercial use on the Randall Curve parcel and the 10
acre +/- parcel located on the corner of Golden Gate Blvd. West & Wilson
Blvd. North
Reginald Kreilich, Jonathan
Jensen, and Andrew Philips
April 12, 2019 --Offers $1,050,000 for land purchase --Deposit of $105,000 --Offer
revoked if not accepted by April 25, 2019 --If offer accepted, closing by
May 25, 2019
11.A
Packet Pg. 99
04/23/2019
The County’s in-house state certified real estate appraiser has valued the property at $3,520,000. The
County also obtained an outside independent appraisal from Maxwell-Hendry-Simmons and their
valuation was in the amount of $3,630,000. A copy of the appraisal is attached. Based on the offers
received to date, Metro Commercial’s proposal seems fair and equitable for the land. The County does
have the option to counter.
On March 27, 2019 at the IFAS building on Immokalee Road, staff conducted a public information
meeting to present the plan for the joint use facility at the Randall Curve location. There were
approximately 40 attendees from the public that were adamantly against a bus barn and any potential
industrial uses on the Randall Curve property. Some of the proposed uses they would like to see are
commercial/retail, community park, and animal preserve.
Subsequent to that meeting, the County received an offer for a potential partnership with the developer of
the Immokalee Road Rural Village to provide acreage for a Collier County District School bus barn and a
Collier County Road Maintenance Facility. The proposal is outlined in the attached letter from Bob
Mulhere, Hole Montes, which offers 30 +/- acres for these facilities.
Based on community concerns regarding the co-location of a bus barn and road maintenance facilities on
the Randall Curve parcel and the new offer received from Immokalee Road Rural Village at a nearby
location, staff is seeking Board authorization to direct staff to negotiate and bring back a proposed plan to
the Board for the proposed location to co-locate a School District bus barn and County road maintenance
facilities at the Immokalee Road Rural Village.
Should the Board decide to accept Metro Commercial’s offer, the proceeds from the sale of the Randall
Curve parcel should be utilized for the purchase of property, design, and construction of the County’s
portion of a future joint use facility.
FISCAL IMPACT: Net proceeds from the sale will be deposited into the appropriate Fund.
GROWTH MANAGEMENT IMPACT: There is no impact to the Growth Management Plan.
LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney, is approved as to
form and legality, and requires majority vote for approval. -JAK
RECOMMENDATION: That the Board of County Commissioners:
1. Declares the 47-acre +/- parcel surplus;
2. Accepts the offer from Metro Commercial Development Group LLC in the amount of
$3,500,000 and dedicate those funds to the County’s portion of a future Road & Bridge
facility;
3. Authorizes the County Manager or his designee to prepare a Real Estate Sales Agreement and
authorizes the Chairman to execute the Agreement on behalf of the Board;
4. Authorizes the Chairman to execute the Statutory Deed once prepared and approved by the
County Attorney’s Office;
5. Authorizes the net proceeds received from the sale be deposited into the appropriate account;
6. Authorizes the County Manager or his designee to follow appropriate closing procedures, and
to record the deed, once approved by the County Attorney’s Office, in the public records of
Collier County;
7. Directs the County Manager to work with the developer of the Immokalee Road Rural
Village to create a Developer Contribution Agreement for a potential partnership with the
developer; and work with the School District to locate joint facilities at this site; and
8. Authorizes the necessary budget amendments.
11.A
Packet Pg. 100
04/23/2019
Prepared By: Toni A. Mott, Manager, Facilities Management Division
ATTACHMENT(S)
1. Metro Commercial Development Group LLC Proposal (PDF)
2. Crown Management Services LLC Proposal (PDF)
3. Shy Wolf Sanctuary Proposal (PDF)
4. Kreilich-Jensen-Phillips Proposal.pdf 1 (PDF)
5. Maxwell- Collier County_Randall Curve (PDF)
6. Immokalee Road Rural Viillage proposal (PDF)
7. Affidavit of Publication (PDF)
8. April 23rd BCC - PP 1 (003) (PPTX)
11.A
Packet Pg. 101
04/23/2019
COLLIER COUNTY
Board of County Commissioners
Item Number: 11.A
Doc ID: 8648
Item Summary: Recommendation to accept the offer from Metro Commercial Development
Group LLC in the amount of $3,500,000 for the County-owned parcel located between Immokalee Road
and 4th Avenue Northeast (Randall Curve parcel) and authorize the County Manager to negotiate a
Developer Contribution Agreement with Immokalee Road Rural Village for the development of a joint
County and School District project. (Toni A. Mott, Real Property Manager, Public Utilities Department)
Meeting Date: 04/23/2019
Prepared by:
Title: Manager - Property Acquisition & Const M – Facilities Management
Name: Toni Mott
04/12/2019 11:54 AM
Submitted by:
Title: Director - Facilities Management – Facilities Management
Name: Damon Grant
04/12/2019 11:54 AM
Approved By:
Review:
Facilities Management Damon Grant Director - Facilities Completed 04/12/2019 12:22 PM
Public Utilities Department Sue Zimmerman Level 1 Division Reviewer Completed 04/12/2019 1:26 PM
Public Utilities Department Dan Rodriguez Additional Reviewer Completed 04/15/2019 10:12 AM
Public Utilities Department George Yilmaz Level 2 Division Administrator Review Completed 04/15/2019 5:16 PM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 04/15/2019 2:51 PM
Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 04/15/2019 2:55 PM
Budget and Management Office Ed Finn Additional Reviewer Completed 04/16/2019 2:52 PM
Office of Management and Budget Susan Usher Additional Reviewer Completed 04/16/2019 3:28 PM
County Manager's Office Nick Casalanguida Level 4 County Manager Review Completed 04/17/2019 12:28 PM
Board of County Commissioners MaryJo Brock Meeting Pending 04/23/2019 9:00 AM
11.A
Packet Pg. 102
METRO°
COMMERCIAL
March29,2079
[wA ELECTRONIC DELTVERY ONLY]
Board of County Commissioners
c/o Toni Mot! Manager
Real Property Management
3335 Tamiami Trail East, Suite 101
Naples, FL 34112-5356
Re: Purchase and Sale Proposal
Golden Gate Estates Unit 22, Tract A (Parcel No: 37690040003)
Honorable Commissioners:
Metro Commercia.l Development Group, LLC fMetro Commercial) is pleased
to present this proposal for your review and consideration of the purchase and sale
of Golden Gate Estates Unit 22, Tract A, Collier County, Florida. We see this
purchase as an opportunity to create a cenEal area of mixed-uses for the benefit and
enioyment of the residents ofGolden Gate Estates and surrounding communities.
Coupled with the abutting parcels we currently own jointly with Barron Collier
Companies north of this property, our holdings would then entail close to 70 acres
and sretch along Immokatee Road from Randall Boulevard to Orange Tree
Boulevard.
- Our vision for the property is simple. It is to plan and develop a quality,
vibrant mixed-use development to serve the needs of the rapidly growing eastern
Collier County population Metro Commercid is under consEuction with a Wawa
project at Route 41 and Price street and currently has two additional commercial
properties in Collier County which we are planning the development of, and this
propergz would complement our pordolio well. Metro Commercial is an industry
leader for retail brokerage providing regional, national, and international tenani
representauon to 140 individual and expanding retailers. Representing over 430
properties totaling over 32 million square feet, Metro commercial also specializes in
proiect leasing property management and development services.
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iletrocommrdol.com
11.A.1
Packet Pg. 103 Attachment: Metro Commercial Development Group LLC Proposal (8648 : Randall Curve)
The framework for our proposal is typical of most real estate transactions.
Below we have enumerated the terms and conditions of our proposal,
Golden Gate Estates Unit 22 - Tract A Purchase and Sale Proposal
Terms
1. Seller: Collier County c/o Real Property Management
2. Prcperty: Golden Gate Estates Unit 22, Tract A, less that portion ofTractA as
described in 0R 3080 PG 723, as amended in 0R 4079 PG 1358 (Parcel No:
37690040003).
3. Property Sizet 47.6 acres (to be confirmed by boundary survey).
4. Purchase Price: $3,500,000.00
5. Purchaser: Metro Commercial Development Group, LLC or an affiliated entity.
6, Deposlt The first earnest money deposit in the amount of$125,000.00 shall be
deposited with the Escrow Agent within five (5) days of the Effective Date of the
Purchase and Sale Agreement (Agreement).
7. Feasibility Period: Ninety (90) days from the Effective Date ofthe AgreemenL
perform its due diligence with respect to the Property includin& but not limited
to the following: [a) physical inspecrion ofthe Property, [b) soils investigation,
(3) environmental assessment, (c) survey and topographical study, (d) wetlands
assessment, (e) condition oftitle, (! condition ofall leases and sub-leases and
(g) engineering utilities and site planning studies. At the end of the Feasibility
Period, Purchaser shall be entided to tJre return ofthe Deposi! and all interest
accrued thereon, should Purchaser determine that the development of the
Property is not feasible for Purchase/s intended use. If purchaser elects to
proceed to Closing the Deposit shall become non-refundable except for in the
event ofa Seller default.
8. Closing: Thirry (30) days after tle expiration of the Feasibility period.
9. Non-Binding Proposal: This Proposal is intended to only to summarize the
principal terms ofa Purchase and Sale Agreement being considered by the
undersigned parties. The undersigned parties intend to endeavor to negotiate
one or more definitive written agreements and otler documentation providing
for the proposed transaction. The provisions ofthis proposal do not constitud,
and will not give rise to, and legally binding obligation or other liability on the
part ofany ofthe undersigned pafties.
くREMAINDER OF THIS PAGEINTENT10NALLY LEFT BLANK>
11.A.1
Packet Pg. 104 Attachment: Metro Commercial Development Group LLC Proposal (8648 : Randall Curve)
Ifthe proposal outlined herein is acceptable, we would request that an
authorized sigratory for Collier County sign below and return one (1) original of
this Proposal. If you have questions or would like to discuss the Proposal, please
call me at (609)790-1900. This Proposal shall be valid for 30 days from the March
29,2019. Thank you for your consideration, and we look forward to the
opportunity to work with you toward a successful conclusion of this matter.
Sincerely,
Metro Commercial Development Group, LLC
ACCEPTED AND AGREED on this _day of
-20L9.
By,
Printed Name:
Its Duly Authorized 0fficer
11.A.1
Packet Pg. 105 Attachment: Metro Commercial Development Group LLC Proposal (8648 : Randall Curve)
Crown Management Seryices, LLC
207 Cherry Hill Drive
Presto, PA l5142
Toni A. Mon, Manager, SR/WA
Collier Coulty Real Property Management
3335 Tamiami Tmil East - Suite 101
Naplcs, Florids 34 I I 2
Dear Ms. Mott
Wc arc plcsscd to submit our proposal to acquilc thc Collier County,s prcp€rty kno\ryn as the
Randall Curve property, which consists of approximately 47+l- acres located off Immokalee
Road near Raadall Boulcvard in Collicr County, Floride Our proposal would consist of a land
swap utilizing 30 +/- aqes of land we currently own, which is within the Estqtes Shopping
Center CPUD located approximately in the center of Golden Gate at the cornff of lst Steet on
Croldcn Gat€ Blvd. ext€nding to 3d Stroet.
Our goal is to work with the County and the Golden Gale Estates Community to provide the best
use for both parcels ofland that would best serve the citizens of Golden Gate Estates and Collier
County. Our objective would bc to develop the Randall Curve property as the Cornmercial Hub
to serve the Golden Cate Estates commmity by providing many commercial services that are
needed for the cotnmunity and creating firll and pan time jobs. The devclopment ofthe Randa.ll
Curve propcrty would also be goviding much needed rclief to the County,s road systcm scrving
the area so that preople living and staying in the area would not have to drive west or to the City
ofNaples for their daity and monthly rceds, as well as providing them a cost savings ofgas and
valuable d ve time out of their daily schedule.
Crown Managemcnt has been in discussions with Barron Collier Companies which owns the
plopcrty adjaceot to thc Randall Curve propcrty. Barron Collier Companies has agrced to give
us access to the site thrcugh their abuning prop€rty, *fiich is oorth of the R-sndall Curve
propcrty. Baron Collier has also commihed to working wilh us to devclop thc laltd. CombiniDg
this tract of land to the abutting BaEon Collier land would provide a gleat opportunity 6
consolidate a Commcrcial Hub to scrvc the Goldcn Gatc Estates Community for the foreseeible
futulc.
Our proposal would consist of the following lerms and conditions:
l) In exchange for the County's 47+/- ItaDdall Curve property, we would provide our 3G|/-
acres (details attached below) to lhe County to be used by the County as it sccs fit for its
best use.
11.A.2
Packet Pg. 106 Attachment: Crown Management Services LLC Proposal (8648 : Randall Curve)
2) We^ w.ould provide the County with a I + acre tracr of 1and (at rhe Randal Curvc propcny)lo facilitate a County s€rvica building to sewe the community.
3) We understand that the Coung bas the ultimate right ro dcaide how the 30 +/- acrcs is
llfl:--H:y:r:r. we request $ar Co ier County-consider d"rig;iing a ponion of rherur/- acre ract tor a park serving the Colden Gate Estates Community, where familiesand.childrcn can enjoy a park and walking traitr,
"
ptr"" to g"tt "r,-ir.* family picnics, aswcll as commuoity events.
4) we would provide $750,000.00 in funding to facilitate the construcrion of such acommunity pa* progam or the funds can bcL"a * *," Co*ty s."s nt.
5) Y" :grld process a grotth management plan aEcndment aod rc-zone the County,sRandall Curve propety to allow comrnercial uses.
6) We would ameud the Estates Shoppiog Centcr Sub.district and the Estatos Shoppingcenter cpuD to add the county's pioposed,ses on thc 30 +/- acre tract and eriminatcthe requirement of a grocer for thc-remaining ro +l- acre tract aitie comcr of GoldcnGate Blvd. and Wilson Blvd. ro I st Sheet NWi ,"f,i"f, *orfa * *Li"d and used by us.
We have met with several Colden Gate Estates community leade$ rcgarding this proposal andthey ye ln favor of the land swap and wo*ing togcthc, ti ;.;;i;;;ilffi of our 3o./_ acretract for the b€nefit ofthe Golden Gatc Estatcs com-munity.
Our entire lransaction would be contingcnt upon us_ receiving all necessary lequired County/Stateappmvals fo. lhe commercial use of both haits of la.d. w.-*.rirJ;;; f;r alt fte associatedIegal costs of the land swap includinp zoning and usc apprord;. W" H;; ;;g"ged the seryiccsof wa),ne Arnotd of Grady Minor tJproviai at o* "i*.ii a'a tLJ il;;.:'; regal descriprionand aerial view ofour 3G+ acre tract are attachcd for your review. W-*iti uritize tte r"*i".s offuch Yovanovich for any land use work ncc"rory tJ ^odry tfr" exiffi'lina use entitlements.
we look for*"rd to futule discussions and workinS wirh thc courty aod the Golden Gate E$atoscommunity to find a solution that worlc for and benefits *".y."". St..fO you have anyqucstions or need additional irformation, pleasc don;i f,"r-iiate-'t" "i"*f,
out to me.
CrowL Vice President
Managcmcnt Services, LLC
11.A.2
Packet Pg. 107 Attachment: Crown Management Services LLC Proposal (8648 : Randall Curve)
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11.A.2
Packet Pg. 108 Attachment: Crown Management Services LLC Proposal (8648 : Randall Curve)
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11.A.2
Packet Pg. 109 Attachment: Crown Management Services LLC Proposal (8648 : Randall Curve)
゛f
言厖
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From the Heort For the Animols
Q“iCkД
"““
α′Statistics
Total number of PEOPLE REACHED: 15,600
Totalnumber of EDUCAT:ONAL PRESENTAT:ONS: 312
Total number of VISITORS EDUCATED: 5,200
Totalnumberof VOLUNTEER HOURS: 61,000
0peration Statistics:
Years of Service:1993-present
lncorpOrated in 2001 as a Florida Non―Profit and 501c3
Estimated Operating Budget:5420′000L[ロr
Mission Stotement
Our mission is to reconnect people and animals through education. Shy Wolf Sanctuary Education and
Experience Center, lnc. (Shy Wolf Sanctuary) provides rehabilitation and sanctuary to un-releasable wild and
captive-bred exotic animals. We work year-round to educate the public about the importance of protecting
these animals while filling a very large void between domestic animal services, wildlife rehabbers and zoos.
Who We Serve
Healing Hearts is a program especially designed for at-risk children and adults. lt began as a partnership with
The Childrens Network of Southwest Florida (foster children) and has since expanded to include other
organizations. Youth Haven, Valerie's House, PACE Center for Girls, and The Naples Shelter for Women &
Children are all partners now. Participants come to the sanctuary and learn first hand how our resident animals
have experienced neglect, abandonment, and abuse but have survived and thrived with our unconditional love
and support. The resident animals inspire and give hope and joy for the promise the future holds.
Contactinformation
Deanna Deppen
Executive Director
855-SHY―VVO LF(749-9653)
admin@shywOrsanctuary org
shywolfsanctuary org
P O Box3032
Naples,FL 34106
11.A.3
Packet Pg. 110 Attachment: Shy Wolf Sanctuary Proposal (8648 : Randall Curve)
Our Future
Shy Wolf Sanctuary is planning a prototype
facility that will be the first of its kind in the
world. lt will be structured to attract visitors
while catering to the needs of the resident
animals and enabling research partnerships.
Community Resource
The sanctuary will provide the obvious, jobs and visitors coming from all over the world to spend
money locally. The planned facility will also serve as a resource during natural disasters and
emergencies. Hurricane-rated buildings will provide shelter to our residents in addition to animals
from the shelter and those belonging to emergency responders unable to evacuate. An on-site
veterinary clinic will allow externships for new veterinarians and offer specialized care for large and
exotic animals not easily treated at a regular veterinarian's office.
Educotionol Progroms
Shy Wolf Sanctuary visits dozens of local
elementary schools each year to share the
message and importance of wolves and
other exotic species, like Florida's Gopher
Tortoise, in natural ecosystems. We partner
with Boy Scouts, Girl Scouts, offer Eagle
Scout projects, Corporate Volunteer
Programs, Community Presentations, College
Service Hours and Research, and much more.
Our educational programs run the gamut
from "The lmportance of Being Kind" to
"Responsible Pet Ownership" to "Living with
Wildlife and how to Protect lt".
Good Neighbors
Our founders, Kent and Nancy Smith, have been providing sanctuary to exotic animals since 1993
when they rescued Moondance, a Black Asian Leopard. People often ask what ou r neighbors think.
Our neighbors have been completely supportive through the years and often callto ask how the
wolves are doing if they don't hear them howling. INTERESTING FACT: Wolves howl for less than two
minutes and the entire group howl has a lower decibel reading than a Harley motorcycle engine.
Reseorch Portners
Shy Wolf Sanctuary has a long history of partnering with college students from across the country.
We've conducted cognitive behavioral research for a Princeton Senior Thesis and, more recently,
drawn blood samples for DNA studies at University of North Alabama. We are involved in the ground
breaking research being done with the New Guinea Wild Highland Dog and the DNA mapping related
to New Guinea Singing Dogs and Dingoes. Our facility will embrace and lead the way in research.
l'
I
Overview Summdry
Shy Wolf Sonctuory Educotion & Experience Center, lnc.
is o Florido Nonprofit & Desiqnoted 501(c) j Tox Exempt
Orgonizotion. Donotions ore tox deductible.
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Packet Pg. 111 Attachment: Shy Wolf Sanctuary Proposal (8648 : Randall Curve)
Toll Free: 855-749-9653
E-mail: 5hI!q[!3Ig!!Iy]Q gL!9!l
Web: www.shywolfsanctuary.com
Mailing Address:
P.O. Box 3032
Naples, FL 34106
Date: March 28,2OLg
RE: lmmokalee & Randall Curve 47 ac. for use as Agricultural with a Special Exception Permit
Ms. Toni Mott, Manater SR/WA
Collier County Real Property Management
3335 Tamiami Trail E, Suite 101, Naples, FL 34112
Dear Ms. Mott,
Shy Wolf Sonctuary Educotion ond Experience Center lnc. proposes that the Collier County Commissioners
sell or lease the 47 county-owned acres on the curve of lmmokalee and Randall Boulevard to the sanctuary.
The sanctuary will build a world class sanctuary, educational and research facility surrounded by a passive
use park benefiting the community with trails for horseback riding, biking, and hiking. The endangered Fox
Squirrels and Bald Eagles would have a safe home with us and we'd have less traffic impact than a shopping
center would in that location.
The SWS finds itself in a unique position having outgrown its current location. lt fills a vital role within the
community for captive-bred and un-releasable wild animals, helping DAS and FWC. The sanctuary is also
positioned to be a global travel destination and prototype research facility. SWS has already partnered with
Princeton, University of North Alabama, and Duke University on canine cognitive behavior research and
DNA studies. Building a green and sustainable facility designed with the health, well-being and natural
behavior capabilities in mind will attract additional universities and research stakeholders.
The newly built SWS housing and supportive structures will serve the surrounding community in natural
disasters and emergencies such as wildfires and hurricanes. The CATS-rated buildings will offer shelter and
the on-site large animal veterinary clinic will be a resource for the surrounding agricultural community.
We thank you in advance for your time and consideration of all options proposed and outlined herein and
welcome any questions you or the other vested parties may have for us.
Kindest regards,
L(co,"*e ka.frt,,-
Deanna L. Deppen, Executive Director
Shy Wolf Sanctuary Education & Experience Center lnc.
admin@shvwolfsanctuarv.ore I 239-290-9867
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Proposal 47 Acres
Shy Wolf Sanctuary
Education & Experience Center
Proposal 47 Acres
855-SHY‐WOLF
March 28′2019
Page l2
Prepared bv:
Deanna L.Deppen,Executive Director
l161 27th Street SW
Naples,FL 34117
239‐290‐9867
聖WW.Shywoifsanctuarv.org
adminoshywo「sanduarY.Org
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Proposal 47 Acres Page l3
Overview
Essential Needs
Shy Wolf Sohctuory Educotion ond Experience Centet (SWS) needs land that would enable us to do the
following:
. Rescue and house captive-bred and un-releasable wild animals;. Safely shelter those animals during natural disasters such as wildfires and hurricanes;. Educate the community about the animals rescued and residing at the sanctuary by inviting them out
to meet the animals on site.
ldentified Criteria for Land
The following have been identified as key to the sanctuary's future success:. A minimum of 20 acres to build the planned facility;. Centrally located between Collier and Lee counties to accommodate volunteers and guests from both;. Easily accessed from both Collier and Lee counties;. Agricultural or semi-suburban to accommodate the animals and the people visiting;. Close enough to universities to still form viable partnerships;
Financial
SWS is prepared to offer S1M for the 47 acres with an initial down payment and financing through our bank
and supporters. Alternatively, the sanctuary would be open to one of the following options being considered:. A Collier County - SWS partnership be formed (precedent: The Naples Zoo);. Sellto SWS with a down payment and balloon payment in 10 years (should larger price be required);. Long term lease to the sanctuary with option to buy;. Split the 47 acres and sell half to the sanctuary while maintaining half for another use (least appealing
to sWS as there is a vested interest in who / what is next to the sanctuary).
Partnerships / Benefits to Community
SWS has a long history of partnering with the schools and organizations:. Collier County Public Schools - Field Trip & Learning Center;. 4-H and agricultural programs - animal husbandry & care, gardening, bee keeping;. Boy & Girl Scouts, Eagle Scout Projects, other community volunteer programs;
. Corporate partnerships, educational programs, and volunteer days;. Healing Hearts: PACE Center for Girls, Youth Haven, The Naples Shelter, Children's Network of
Southwest Florida, Valerie's House;
. Educationalprograms with partners in lmmokalee.
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Planned Facility
. House - on-site property manager;. Pasture land - for horses, cows & other farm animals to be rescued;. Pavilion & Educational Center - an educational gathering location for programs and community use
and office space for staff;. Parking lot / area - for guests and students to park at the facility;. Lean-Tos & Green Houses - to be used as educational planting stations & for maintenance;. Vet Clinic - to be used for large animal care for big cats, bears, horses, etc;. Work Build ing - approximate 30'x70' metal building will be a combination building for loading dock for
food deliveries and food preparation area for the resident animals.. Chicken Coop - to raise chickens on site for fresh eggs (animals & community) and to partner with 4-H
programs through this and farm animal rescue & gardening program;
. Enclosures / Habitats - FWC required enclosures for exotic animals (including 10' high chain link with 3'
lean-ins & antidig) - as well as smaller animal habitats built to greater than FWC specifications;. Kennels {CAT5 buildings) - Hurricane & Fire-proof kennel buildin8s (concrete) for lockdown and feeding
/ care of animals - additional capacity to shelter community animals in times of disasterj. Maintenance Building - needed to house farm equipment including bobcat, tractor, mowers & work
space for construction & repairs;
.lnternhousing-couldbeincorporatedintooneoftheotherstructuresbutwouldenableinternand
externships in biology, zoology, veterinary medicine and other fields;. Barn -to house the farm animals;. Rehab Pool (not existing) - for rehabilitation and therapy of resident animals.
Product / Service Features
. Animals come to SWS from FWC, shelters, other rescues and private surr€nder. There is literally
nowhere else for these animals to go.
. Hurricane rated buildings will house kennels for our resident animals and have enough extra to take in
animals from the county shelter in the path of the disaster or those of emergency workers who cannot
evacuate due to job responsibilities.
. Guests to SWS will be able to interact with and pet animals that they would otherwise never encounter
and will be able to howl as one ofthe pack with the wolves, wolfdogs, dingoes, new guinea singing
dogs, and coyotes.
. Photographers will have a unique opportunity to photograph animals that would otherwise never be
approachable in the wild. lnstructor led classes will provide tips and techniques to advance the
photographer's skills.
. Research conducted will be ground breaking on many levels and offer a prototype opportunity facility
desiSn to study behaviors in canines that would never be possible in the wild as researchers cannot get
close enough.
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Proposal 47 Ac.e5 Page l5
Product / Service Benefits
. Animals are provided a safe haven that cannot go to wildlife rehabilitators, zoos, or domestic animal
shelters. Wetaketheworkofrescue&careofftheshouldersofotheror8anizations. These animals
share their stories and educate guestr.
. Local shelters are not rated above a CAT 3 storm and do not offer room for the pets ofthose
emergency workers (EOC, deputies, paramedics, hospital workers)who cannot evacuate. More
resources for community members whose animals cannot go to the shelter because there are too
many pets, the wrong type of pet, or just no room allotted.
. Guests willbetter relate to the wild cousins ofour resident animals and wantto actto protect them
and their habitats.
. Program participants will have a better understandinB of wild animals, the role they play in the
ecosystem, and how to better live with the wild animals. Our HealinB Hearts program connects
children and adults at risk with the animals and shows them there is hope beyond negled, abuse and
abandonment.
. Photographers will see animals in a way not possible otherwise while honing their photography rkills.
They will be able to photograph animals up close in their habitats.
. The research conducted will help define our understanding of canine behavior, pack dynamics, and
how all canines are related through DNA studies.
lndustry Overview
There is a strong market for outdoor and animal related activities. The national parks and recreation facilities
(US) number 71,219 while zoos and aquariums (US) number 4,990 and had a S2Bn revenue total in 2018
(www.ibisworld.com) with a 1.5% annual groMh since 2013.
SWS fills a unique niche in both the animal rescue industry and the tourism attradion industry. lt rescues and
provides sanctuary to un-releasable and captive-bred exotic animals that cannot go to the zoo, wildlife
rehabilitation or domestic animal shelters and rescues. Many ofthe animals rescued come from these
resources, in fact.
People will travel from around the world to spend time with the wolves and other exotic residents because
SWS will allow a smaller more intimate visit that encoura8es interacting with the animals that are safe who
enjoy the enrichment offered by such attention.
History of the Sanduary
SWS gets rescue requests on a daily basis, sometimes several per day. There is no way to accommodate or
help allofthe animals in need and a network of rescuers worksto rehome the onesthat can be safely adopted
out.
SWS was formally established in 2001 but the founders have been rescuing exotic animals since 1993 and have
been continuously licensed and inspected by Collier County Domestic Animal Services, Florida Fish and
Wildlife, and the United States Department of Agriculture.
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Proposal 47 Acres Pag€ l6
Growth Potential
The grolvth potentialfor sws is tremendous. There is a giant need for animals to be rescued but an equally
great desire of people to meet and understand these exotic animals. That translates to conservation of wild
animals sws is in a unique position to also become a leading research facility for cognitive canine behavior,
DNA study contribution, and other non-intrusive projects. The main deterrent for groMh is finding at least 20
acres zoned in a manner that can house the animals and allow people to visit. sws has worked with three
different counties to try to resolve this problem. SWS is such a unique entity that the county zoning
departments don't really know how to classify the sanctuary up front to direct us to appropriate propenies.
Trends
There are seasonal trends for the market in Southwest Florida as the "snowbirds" visit and their grandchildren
come during school breaks. Projections from the Collier County Government population studies predjct
379,900 people in April 2020 and 383,166 in October 2020 with 386,432 in April 2021; thus, demonstratinB the
seasonal increase in winter months and continuing groMh within Collier County as a whole
comprehensi ulation-and-
demosraphics). SWS would undoubtedly have times that are busier, like now, but would stay relatively
consistent even in off months-
Conclusion
SWS is very interested in the 47 acres, in part or whole, that is at Randall & lmmokalee and feelwe bring a
unique and important resource to the surrounding community. Should it be the decision that something else
would be better suited for that location, sWS would be interested and open to discussing alternative locations
to form a partnership with the county or other interested parties. lt is the goal of sws to have a minimum of
20 acres identified and approved for the future facility and to launch a capital campaign by the end of 2019.
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Appraisal Report
Vacant Land
Northeast quadrant of Immokalee Road and Randall Boulevard/4th Street NE
Naples, Collier County, Florida
Date of Valuation: 12 March 2019
Date of Report: 18 March 2019
File Name: 19025308 - Collier County_Randall Curve
Prepared For
Collier County Board of County Commissioners
Real Property Management
3335 Tamiami Trail East
Suite 101
Naples, Florida 34112-5256
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18 March 2019
Collier County Board of County Commissioners
Real Property Management
3335 Tamiami Trail East
Suite 101
Naples, Florida 34112-5256
Attention: Mr. Roosevelt Leonard, R/W-AC
Senior Review Appraiser
Re: Appraisal of a vacant parcel located in the northeast quadrant of Immokalee Road and Randall
Boulevard/4th Street NE, Collier County, Florida
Dear Mr. Leonard:
As you requested, an appraisal has been made of the above property, which is legally described in the attached
report. This letter is an integral part of, and inseparable from, this report.
The purpose of the appraisal is to arrive at an opinion of market value of the subject property in its “as-is”
condition. Furthermore, as requested by the client, we have also developed an opinion of value under the
hypothetical condition that the property has been rezoned to a PUD zoning that allows for mixed use
development. The interest being appraised is the undivided fee simple interest in the land as if otherwise free
and clear of all liens, mortgages, encumbrances, and/or encroachments. The intended use of this appraisal
is understood to be for decision-making and planning guidance regarding the disposition of the property. The
intended user of this appraisal is Collier County and/or its affiliates.
The subject property was inspected on 12 March 2019 by Matthew H. Caldwell. This appraisal report is
intended to conform to the Uniform Standards of Professional Appraisal Practice & the Code of Professional
Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. This appraisal is made
subject to the Assumptions and Conditions contained in the body of this report.
Based upon our analysis of the data contained in the attached appraisal report, it is our opinion that the
market value of the subject property, as of 12 March 2019, is
THREE MILLION SIX HUNDRED THIRTY THOUSAND DOLLARS - $3,630,000
In addition to the “as is” condition, we have also developed an opinion of value under the hypothetical
condition that the property has been rezoned to a PUD zoning and a GMP comprehensive plan amendment
has been approved that allows for mixed-use development. This hypothetical condition is further detailed in
the report. Based upon our analysis of the data contained in the attached appraisal report, it is our opinion
that the market value of the subject property under the hypothetical condition, as of 12 March 2019, is
EIGHT MILLION EIGHT HUNDRED THOUSAND DOLLARS - $8,800,000
Respectfully submitted,
Matthew H. Caldwell
State-Certified General Real Estate Appraiser
RZ2901
Gerald A. Hendry, MAI, CCIM
State-Certified General Real Estate Appraiser
RZ 2245
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TABLE OF CONTENTS
SEC. I: INTRODUCTION ............................................................................................................................................. 1
SEC. II: SCOPE OF WORK ......................................................................................................................................... 3
EXTENT OF PROPERTY IDENTIFICATION ............................................................................................................................. 3
EXTENT OF INSPECTION ................................................................................................................................................. 3
TYPE AND EXTENT OF DATA RESEARCH ............................................................................................................................ 3
TYPE AND EXTENT OF ANALYSIS ...................................................................................................................................... 3
ASSUMPTIONS .............................................................................................................................................................. 5
EXTRAORDINARY ASSUMPTIONS ...................................................................................................................................... 5
HYPOTHETICAL CONDITIONS ........................................................................................................................................... 5
SEC. III: REGIONAL AND MARKET AREA ANALYSIS .................................................................................................. 6
SOUTHWEST FLORIDA / COLLIER COUNTY DATA ................................................................................................................ 6
CONCLUSION / LIFE CYCLE STAGE ................................................................................................................................ 10
EAST GOLDEN GATE/OIL WELL ROAD CORRIDOR ........................................................................................................... 11
SEC. IV: PROPERTY DESCRIPTION ......................................................................................................................... 22
LOCATION MAPS ......................................................................................................................................................... 22
AERIAL MAP ............................................................................................................................................................... 25
FLOOD MAP ............................................................................................................................................................... 26
ORIGINAL PLAT (PB 7/84) ......................................................................................................................................... 27
SITE SKETCH (OR 4079/1358) ................................................................................................................................ 28
PROPERTY PHOTOGRAPHS ........................................................................................................................................... 29
PROPERTY CHARACTERISTICS ....................................................................................................................................... 31
SEC. V: HIGHEST & BEST USE ANALYSIS ............................................................................................................... 34
PRESENT USE ............................................................................................................................................................ 34
HIGHEST AND BEST USE AS VACANT ............................................................................................................................. 34
SEC. VI: VALUATION OF SUBJECT PROPERTY ........................................................................................................ 36
THE APPRAISAL PROCESS ............................................................................................................................................ 36
LAND VALUATION (THE SALES COMPARISON APPROACH TO VALUE) ................................................................................... 37
HYPOTHETICAL VALUATION ........................................................................................................................................... 50
SEC. VII: RECONCILIATION OF OPINIONS OF VALUE .............................................................................................. 63
CONTRACTS, LISTINGS & SALES HISTORY ...................................................................................................................... 63
ESTIMATION OF MARKETING TIME ................................................................................................................................. 64
ESTIMATION OF EXPOSURE TIME ................................................................................................................................... 64
SEC. VIII: CERTIFICATION ....................................................................................................................................... 65
SEC. IX: ADDENDA .................................................................................................................................................. 67
QUALIFICATIONS: MATTHEW H. CALDWELL .................................................................................................................... 67
QUALIFICATIONS: GERALD A. HENDRY, MAI, CCIM ......................................................................................................... 68
ASSUMPTIONS ............................................................................................................................................................ 69
EXTRAORDINARY ASSUMPTIONS / HYPOTHETICAL CONDITIONS ......................................................................................... 70
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SEC. I: INTRODUCTION
OWNER OF RECORD: Collier County
ADDRESS: None Assigned
TAX ID: 37690040003
LEGAL DESCRIPTION: Tract A, Unit 22, Golden Gate Estates, Plat Book 7, Page 84; Less 9.1208
described in Official Record Book 4079, Page 1358
SITE AREA: 2,072,114± square feet / 47.5692± acres
IMPROVEMENTS: N/A
ZONING /
FUTURE LAND USE:
“As Is”: E (Estates) / Estates
“Hypothetical”: PUD (mixed use approval)
HIGHEST & BEST USE
AS VACANT:
Speculative holding for residential and/or mixed-use development following
rezoning
HIGHEST & BEST USE
AS IMPROVED: N/A
EFFECTIVE DATE OF THE
APPRAISAL: 12 March 2019
DATE OF THE REPORT: 18 March 2019
INTENDED USER: This appraisal is made for the exclusive use of our client, Collier County and/or
affiliates, and its use by others is strictly prohibited.
INTENDED USE: The intended use of this appraisal is understood to be for decision-making and
planning guidance regarding the disposition of the property
VALUE INDICATIONS:
“AS IS”
“HYPOTHETICAL”
$3,630,000
$8,800,000
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2
VIEW TO THE NORTHEAST OF SUBJECT
VIEW TO THE NORTHEAST ALONG IMMOKALEE ROAD
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SEC. II: SCOPE OF WORK
Scope of Work is defined by the Uniform Standards of Appraisal Practice (USPAP), 2018/19 Ed., as
“the type and extent of research and analyses in an appraisal and appraisal review assignment.”
The Scope of Work includes, but is not limited to:
the extent to which the property is identified;
the extent to which tangible property is inspected;
the type and extent of data research; and
the type and extent of analysis applied to arrive at opinions or conclusions.
EXTENT OF PROPERTY IDENTIFICATION
For this analysis, the subject property was identified via a legal description and research of public records via
the internet. For this appraisal, reliance was placed primarily on information provided by the local public records,
as well as information provided by our client.
EXTENT OF INSPECTION
For the purposes of this appraisal, Matthew H. Caldwell conducted an exterior inspection of the subject property
on 12 March 2019.
TYPE AND EXTENT OF DATA RESEARCH
Data research is regularly conducted using the following sources:
Public Records
Local REALTOR® Association Multiple Listing Services (MLS)/Loopnet/CCIM
Marshall Valuation Service/Marshall & Swift Cost Tables/Books
CoStar comparables service
Information from contractors, brokers, and agents in the area
The primary emphasis of the data research concentrated on the subject’s market area. Census data, as well as
municipal and governmental websites, were utilized in gathering the information analyzed. The time period
researched for any sales data encompasses the last few years up until the date of the most current data
available. All comparable data is verified with the buyer, seller, or a property representative, unless otherwise
indicated. In the analysis, the selling price, financing, motivation to purchase/sell, and, if applicable, any lease
or income/expense information was verified, as of the time of sale.
TYPE AND EXTENT OF ANALYSIS
Purpose of the Appraisal
The purpose of this appraisal is to formulate an opinion of the “as is”, fee simple, market value of the subject
property as if free and clear of all liens, mortgages, encumbrances, and/or encroachments.
Furthermore, as requested by the client, we have also developed an opinion of value under the hypothetical
condition that the property has been rezoned to a PUD zoning that allows for mixed use development.
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Condition Appraised
In this analysis, we are estimating the “as is” condition, as defined by the Appraisal Institute in the Dictionary of
Real Estate Appraisal, 6th Ed. as:
The estimate of market value of real property in its current physical condition, use, and zoning as of the
appraisal date.
Real Property Interest Appraised
There are primarily two forms of interest to consider when developing an opinion of value of real property. These
are defined by The Appraisal Institute in the Dictionary of Real Estate Appraisal, 6th Ed., as follows:
Fee simple interest (estate) is:
Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the
governmental powers of taxation, eminent domain, police power, and escheat.
Leased fee interest is:
The ownership interest held by the lessor, which includes the right to receive the contract rent specified in the
lease plus the reversionary right when the lease expires.
As the subject is vacant land, the interest being appraised in this situation is the undivided fee simple interest
in the land as if free and clear of all liens, mortgages, encumbrances, and/or encroachments except as may be
amended in the body of this report.
Value Appraised
The opinion of value developed and reported is the market value of the subject property. Market value, as
defined by the agencies that regulate financial institutions in the United States and published by 12 CFR Ch. V
Part 564.2 (g) Office of Thrift Supervision, Department of the Treasury, is:
The most probable price that a property should bring in a competitive and open market under all conditions
requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is
not affected by undue stimulus.
Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller
to buyer under conditions whereby:
a. Buyer and seller are typically motivated.
b. Both parties are well informed or well advised, and acting in what they consider their
own best interests.
c. A reasonable time is allowed for exposure in the open market.
d. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements
comparable thereto; and
e. The price represents the normal consideration for the property sold unaffected by
special or creative financing or sales concessions granted by anyone associated with
the sale.
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Approaches Developed
As the subject of this appraisal is a vacant tract of land, we have utilized the Sales Comparison Approach to
Value. As they are not applicable to the property type, the Cost Approach and Income Approach have not been
utilized.
Report Type
This is an Appraisal Report which is intended to comply with the reporting standards set forth under Standard
Rule 2-1 and 2-2(a) of the Uniform Standards of Professional Appraisal Practice (USPAP), 2018/19 Ed.
ASSUMPTIONS
An assumption is defined by The Appraisal Institute in The Dictionary of Real Estate Appraisal, Sixth Edition as
follows:
“that which is taken to be true.”
Please see Addenda for further details regarding the assumptions utilized in this appraisal.
EXTRAORDINARY ASSUMPTIONS
Extraordinary Assumption is defined by the Uniform Standards of Appraisal Practice (USPAP), 2018/19 Ed., as
“an assignment-specific assumption as of the effective date regarding uncertain information used in the analysis
which, if found to be false, could alter the appraiser’s opinions or conclusions.”
Per USPAP standards, please note that the use of extraordinary assumptions might have affected the assignment
results. It is strongly recommended that the reader thoroughly read the entirety of these assumptions, as they
outline the limitations under which this appraisal is developed.
None applicable.
HYPOTHETICAL CONDITIONS
Hypothetical Condition is defined by the Uniform Standards of Appraisal Practice (USPAP), 2018/19 Ed., as
“a condition, directly related to a specific assignment, which is contrary to what is known by the appraiser to exist
on the effective date of the assignment results, but is used for the purpose of analysis.”
Per USPAP standards, please note that the use of hypothetical conditions might have affected the assignment
results. It is strongly recommended that the reader thoroughly read the entirety of these assumptions, as they
outline the limitations under which this appraisal is developed.
None applicable in the “as is” condition. In addition to the “as is” condition, we have also developed an
opinion of value under the hypothetical condition that the property has been rezoned to a PUD zoning
and a GMP comprehensive plan amendment has been approved that allows for mixed-use development.
See Sec VI for details on the hypothetical valuation scenario.
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SEC. III: REGIONAL AND MARKET AREA ANALYSIS
SOUTHWEST FLORIDA / COLLIER COUNTY DATA
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Collier County, named for Barron Collier, was created from Lee County in 1923, and is the second largest county
in the State of Florida by land area. Collier County is bordered by Miami-Dade Counties to the east and Lee and
Hendry Counties to the north. The county's western boundary is the Gulf of Mexico. The county contains a total
of 2,025 square miles of land area and 91 square miles of inland water area. Collier County is the second largest
county east of the Mississippi River and is larger than the States of Rhode Island and Delaware. The present-
day Collier County encompasses 2,305 square miles, with a variety of natural inland, coastal, and barrier island
habitats, with approximately 13% of the total area being water. The year-round population is 321,520 as of the
2010 census. There are three (3) incorporated municipalities in Collier County as follows:
City of Naples: Incorporated in 1949. 14.41 Square Miles. 2010 Population: 19,537.
The city of Naples is the county seat of Collier County, as well as being the principal city of the Naples-Marco
Island Metropolitan Statistical Area. The city was originally settled in 1886, with the majority of growth occurring
after the depression and World War II. The City is home to a number of major employers, as well as non-profit
organizations and Fortune 1000 companies. The Fifth Avenue South and Third Street South corridors are
considered to be the heart, or “downtown” of the City of Naples, and this area is a popular retail and shopping
destination. The City of Naples also features a number of cultural centers and organizations including The Naples
Players, the Opera Naples, the Philharmonic Center for the Arts, the Philharmonic Orchestra and Theatre Zone
Equity Theatre Company, the Naples Jazz Orchestra, the Naples Youth Jazz Orchestra and the Naples
Philharmonic Youth Orchestra.
City of Marco Island: Incorporated in 1997. 17.1 Square Miles. 2010 Population: 16,413.
Originally named San Marco Island by Spanish explorers, Marco Island is the largest barrier island within
Southwest Florida's Ten Thousand Islands area, extending southerly to Cape Sable. The island was purchased
in the 1920’s by Barron Collier, and was originally incorporated as Collier City in 1927, but was later
unincorporated. Marco Island is generally considered to be a resort destination, and the desirability of real estate
coupled with the finite supply, has led to a rapid escalation of property values, which are significantly higher than
many other parts of Collier County.
City of Everglades: Incorporated 1923. 1.2 Square Miles. 2010 Population: 400.
The City of Everglades, known more commonly as Everglades City, is located at the mouth of the Barron River,
on Chokoloskee Bay, approximately 32 miles southeast of Naples, near the extreme southeasterly corner of
Collier County. With the establishment of the Everglades National Park in 1947, the economy of Everglades City
began to shift from industrial and agricultural to tourism and eco-tourism. The Everglades National Park visitor’s
center is located in Everglades City.
There are many other unincorporated, yet distinct, communities in Collier County, both rural and suburban in
nature. These include Ave Maria, Golden Gate, Goodland, Naples Manor, Naples Park, Immokalee, Lely Resort
and many others.
Collier County is a growing county with many diverse geographical areas and populous communities. Collier
County is second only to Lee County as the center of growth and activity for the five (5) county area (Charlotte,
Collier, Glades, Hendry, and Lee).
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There are four basic factors that influence value according to The Appraisal of Real Estate, Fourteenth Edition.
These factors include:
I. Social Forces
II. Economic Forces
III. Governmental Forces
IV. Environmental Forces
Each of the forces interacts, resulting in increases, decreases, or stabilization of property values. As a result,
these forces also serve to directly affect the demand for real property in a particular area. The four forces that
affect values are described as follows:
I. Social Forces
Population fluctuation has a significant impact on property values. The chart below demonstrates the change in
population between the two most recent decennial Censuses..
2017
(1 JULY EST.) 2010 2000 Change
COUNTY POPULATION 372,880 322,653 257,926 +44.57%
1. http://www.colliergov.net/your-government/divisions-a-e/comprehensive-planning/population-and-demographics
II. Economic Forces
Economic considerations involve the financial capacity of the inhabitants of a region to rent or own property and
properly maintain it. These economic forces may include income levels, unemployment rates, the economic
base of a region and the strength of development and construction.
2018 2017 2016 2015
UNEMPLOYMENT RATE1 4.1% (July) 4.1% (Annual) 4.8% (Annual) 5.2% (Annual)
AVERAGE WEEKLY WAGE1 $929 (1Q) $966 (4Q) $915 (4Q) $969 (4Q)
SINGLE-FAMILY MEDIAN PRICE2 $449,375
(July)
$434,900
(Annual)
$420,356
(Annual)
$308,000
(Annual)
RETAIL VACANCY RATE3 3.9% (2Q) 3.3% (4Q) 5.7% (4Q) 6.2% (4Q)
OFFICE VACANCY RATE3 7.0% (2Q) 6.1% (4Q) 7.2% (4Q) 9.3% (4Q)
INDUSTRIAL VACANCY RATE3 1.5% (2Q) 0.8% (4Q) 1.2% (4Q) 2.4% (4Q)
1. http://www.bls.gov/
2. http://www.floridarealtors.org/ResearchAndStatistics/Florida-Market-Reports/Index.cfm
3. Costar
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III. Governmental Forces
The county government consists of a five-member board of county commissioners, elected to four-year terms
within single-member districts. A non-elected county manager heads the government staff. Other elected
officials in the county are sheriff, tax collector, supervisor of elections, clerk of the circuit court, and property
appraiser. In addition, there are numerous special districts with independently elected boards, with the services
provided ranging from fire protection tot water & sewer service.
Services
There are two incorporated cities with the usual municipal services, such as police protection and fire protection.
The balance of the county is patrolled by the Florida State Highway Patrol and the Collier County Sheriff’s
Department. Independent fire control districts serve the balance of the unincorporated area for fire and rescue
services.
Utilities
CenturyLink is the primary telephone service provider for Southwest Florida. CenturyLink has a fiber optic
backbone that has the ability to connect all of its central offices and maintain high network availability. KMC
Telecom, Inc., along with CenturyLink, has a SONET ring surrounding Fort Myers. This SONET ring safeguards
customers from service interruptions by using diverse routing of its fiber optic cables. Electricity is supplied by
Florida Power and Light and TECO. Gas is available from any one of a number of manufactured bottled gas
dealers in the county or directly from TECO. Water and sewer service is supplied by the either city or county
government.
Medical Services
The Naples Community Hospital System is a private non-profit which oversees several facilities throughout the
county.
Educational System
The School District of Collier County oversees the uniform K-12 public educations system within Collier County.
There are also several private and parochial schools in the county. Florida Southwestern State College has a
campus in Naples, while Florida Gulf Coast University is located in south Lee County. Ave Maria University is a
newly established Catholic University located in Naples.
Transportation
By far, the major artery through Collier County is U.S. 41 (Tamiami Trail). Another major artery is Interstate 75 (I-
75), which connects Naples to the east coast population centers of Miami and Fort Lauderdale. Air service is
limited but currently expanding out of Naples Airport. Currently, sixteen airlines operate out of Southwest Florida
International Airport, just north of Naples, in Fort Myers.
IV. Environmental Forces
The county has a sub-tropical climate. The average temperature is 74 degrees. Temperature extremes are
infrequent with only a rare freeze and few readings above the mid-90s. Rainfall averages just over 53 inches
annually, with the heaviest rains during the summer months.
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CONCLUSION / LIFE CYCLE STAGE
The subject market area is in the Growth stage of its life cycle. This market area experienced tremendous
development from 2003-2005 and then an equally significant decline in property values from 2006-2011. This
trend has reversed over the last three years with year over year increases in property values and a returned cycle
of new property development. This growth trend is most pronounced within the Naples area, but increasing
property values and new development is also occurring in the eastern rural areas of the County as well.
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EAST GOLDEN GATE/OIL WELL ROAD CORRIDOR
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The subject property is located in the eastern portion of Collier County in an area whic h was historically residential
and agricultural in nature. As the western portions of Collier County began to build out over the past decade,
development trends have been trending eastward with notable developments such as Twin Eagles, The Quarry,
Orange Blossom, and others further east such as Ave Maria, and the proposed, Rural Lands West. The subject
area consists of lands located in portions of four planning communities of Collier County: Rural Estates,
Corkscrew, Urban Estates, and Royal Fakapalm. The following is an illustration of the subject on the Collier
County Planning Communities map:
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The land west, north, and south of the subject has been identified to include residential areas east of I-75 in
which residents typically commute to work, specifically including Golden Gate Estates, Ave Maria, and the future
Rural Lands West.
Demographics
The surrounding area of the subject, although a less populated area of Collier County, is one of the fastest
growing areas of the county. The following is a comparison of the population trends surrounding the subject as
compared to Collier County, and the state of Florida:
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018
As shown above the growth rate in population in Collier County and in the 3, 5, and 7 mile radius of the subject
have exceeded the state of Florida rates since 2010. The 3 mile radius indicated a compounded annual growth
rate (CAGR) of 1.38%, the 5 mile radius indicated a CAGR of 3.01%, and the 7mile radius indicated a
compounded growth rate of 3.79%, compared to Collier County at 1.66%, and Florida at 1.32%. Also illustrated
are the projected population growth rates over the next five years. Similar trends are projected with the 5 mile
radius estimated to have a CAGR of 2.32% and the 7 mile radius estimated to have a CAGR of 2.52%, compared
to Collier at 1.85%, and Florida at 1.41%. All trends lead to a positive conclusion of population growth in the
market areas and Collier County relative to the State of Florida.
Population 2010 Census 2018 2010-2018 CAGR* 2023 2018-2028 CAGR
Radius of subject (0-3 mile) 10,376 11,580 1.38% 13,214 2.68%
Radius of subject (3-5 mile) 13,471 17,081 3.01% 19,159 2.32%
Radius of subject (5-7 mile) 20,380 27,438 3.79% 31,081 2.52%
Collier County 321,520 366,709 1.66% 401,866 1.85%
Florida 18,801,310 20,875,686 1.32% 22,394,909 1.41%
CAGR=compounded annual growth rate
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With a growing population, the area surrounding the subject is obviously seeing a similar growth in the number
of households. Within a 7 mile radius of the subject, household growth indicated the highest CAGR since 2010
and is projected to have the highest CAGR over the next five years. These household trends are illustrated below:
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018
Positive trends in population and household growth are also having a positive impact on home sales and home
pricing. The Immokalee Road corridor has experienced a strong increase in new housing over the past decade
and has gained favor in the market. Even beyond Immokalee Road, areas east are in demand as evidenced by
Ave Maria which continues to lead the area in sales pace with Maple Ridge of Ave Maria recording the most sales
of any development in Southwest Florida in 2017. Demand in this area and areas east is leading to increases
in median home prices surrounding the subject.
Income levels and projected growth rates in income are also expected in this area. As illustrated below, the
areas of 3, 5 and 7 miles surrounding the subject, and Collier County exceed the state of Florida in most all
income categories (average household income, median household income, per capita income):
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018
As illustrated, the Collier County and subject area trends remain ahead of state and national trends. As this area
continues to grow, and at a rate faster than Collier County, this area will transition from a once remote area to
an area with more urban development and will continue to gain market acceptance.
Existing Developments
This portion of Collier County is generally less developed than the western or coastal portions of the County, and
is primarily rural or agricultural in nature, with the exception of the Ave Maria development. To the north of this
market area is Immokalee, which is an unincorporated community consisting of an estimated 2018 population
of 27,454 (source: Esri). The urban core area of Naples is located approximately 15-20 miles to the west. The
primary rural residential areas are identified as Golden Gate Estates within this area. A significant portion of
Collier County west of Interstate 75 is nearing build out with new development pushing south and east. Over the
past decade, the area along Immokalee Road from Interstate 75 east to just east of Collier Boulevard has
experienced significant growth in the form of residential and commercial development. As this area continues
to build out and as Collier County residents search for more affordable housing options, development has been
Households 2010 Census 2018 2010-2018 CAGR 2023 2018-2028 CAGR
Radius of subject (0-3 mile) 3,213 3,561 1.29% 5,063 2.67%
Radius of subject (3-5 mile) 4,353 5,645 3.30% 6,371 2.45%
Radius of subject (5-7 mile) 7,222 10,054 4.22% 11,476 2.68%
Collier County 133,179 152,265 1.69% 167,090 1.88%
Florida 7,420,802 8,152,541 1.18% 8,720,568 1.36%
Household and Per Capita Income 2018 2023 2018-2028 CAGR
Radius of subject (0-3 mile) - average $93,743 $112,015 3.63%
Radius of subject (3-5 mile) - average $97,616 $118,219 3.90%
Radius of subject (5-7 mile) - average $106,400 $128,066 3.78%
Collier County-average $97,081 $116,367 3.69%
Florida-average $75,281 $88,906 3.38%
Radius of subject (0-3 mile) - median $75,273 $87,795 3.13%
Radius of subject (3-5 mile) - median $67,486 $78,486 3.07%
Radius of subject (5-7 mile) - median $74,345 $85,318 2.79%
Collier County-median $61,684 $72,747 3.35%
Florida-median $52,098 $59,013 2.52%
Radius of subject (0-3 mile) -per capita $30,791 $36,934 3.71%
Radius of subject (3-5 mile) - per capita $32,151 $38,946 3.91%
Radius of subject (5-7 mile) - per capita $40,851 $49,420 3.88%
Collier County-per capita $40,758 $48,792 3.66%
Florida-per capita $29,913 $35,101 3.25%
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pushing eastward with newer residential projects such as Waterways of Naples, Orange Blossom, and, most
notable, Ave Maria.
Ave Maria
Ave Maria is the primary development close to the subject. The project, which is a Development of Regional
Impact (DRI), was created in the early 2000’s as a town and university (Ave Maria University) in a partnership
agreement between Tom Monaghan and the Barron Collier Companies. The original Ave Maria campus was
located in Michigan but was relocated to Collier County when zoning rights for planned expansions in Ann Arbor
Michigan could not be obtained. In 2003, the Barron Collier Companies donated approximately 5,000 acres of
land for the project, and the campus was opened in 2007 with an initial enrollment of about 700 students.
Approximately 20% of the overall lands are designated for the University Campus, with the rest of the lands being
used for residential and other development. The town and university are conceptualized to be a Roman Catholic-
centric enclave, in a mold similar to that of Notre Dame in Indiana. A number of master planned communities
are being developed within the town of Ave Maria by third party builders, and there are 11,000 planned
residential units at build-out. Enrollment and home sales initially fell short of expectations, and as a result, some
of the new master planned communities (such as Maple Ridge, Coquina and Avalon Park) are being marketed
to a wider demographic which includes families looking for affordable single family housing (relative to Naples
as a whole) in a small town environment. Within Ave Maria, there are several developments: Del Webb, Emerson
Park, Hampton Village, Bellera Walk, Residences at La Piazza, Maple Ridge, Silverwood, Avalon Park, and the
Town Center and Arthrex development.
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Del Webb: The Del Webb Naples neighborhood in Ave Maria is a 55+ adult community located along Anthem
Parkway, south of the Ave Maria town center. There are 11 models of homes available within the community
ranging from 1,289 square feet to 2,634 square feet with two and three bedrooms floor plans. Prices start from
$202,490 up to $323,990. Amenities include the Oasis Club, an amenity center featuring over 12,000 square
feet of entertainment and fitness space, resort and lap pools, tennis and bocce ball courts, café, art studio and
an 18-hole championship golf course. Over 450 homes have sold in this project since 2007.
Emerson Park: Emerson Park is a family friendly, all-ages neighborhood located at the northeast corner of the
site, developed by Lennar now being marketed by Pulte, consisting of one and two story single-family homes.
There are a number of floor plans and styles available from Pulte ranging from 1,570 square feet to 3,514 square
feet, with three to six bedrooms. Prices range from $236,990 to $333,990. This project is at the end of the
sellout with over 175 homes sold since 2007.
Hampton Village: Hampton Village is being marketed as a traditional-style neighborhood, with homes that
feature front porches, alley-loaded garages, and large, single-family floor plans designed specifically for growing
families. Hampton Park is located just south of the Town Center. Pulte Homes is at the end of the sell out of
this project with over 110 homes sold.
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Bellera Walk: Bellera Walk is now sold out with over 140 homes sold. The project was most recently marketed
by Divosta Homes.
Residences at La Piazza: The Residences at La Piazza are condominium units located on the second and third
floors of the Town Center. They are designed to be Mediterranean or European in style with views of the
University and the downtown area. The floor plans range in size from 1,189 square feet to over 1,700 square
feet of living space. Resales range in price from $180,000 to $287,000.
Maple Ridge: Maple Ridge is one of the newer communities within Ave Maria and is intended for single family
development by CC Devco. The development will have 1,699 units at buildout with Phases 5A, 5B, and 6A (42),
Phase 2 (88), Phase 3 (220), Phase 4 (164), remaining Hampton Village (23), Phase 5A (130), Phase 5B (121),
6A (12) and future phases of 899 units. There are 17 floor plans being offered, with 30 exterior elevation
packages. Floor plans range from three to five bedroom homes on one or two stories. Sizes range from 1,493
square feet to 4,032 square feet, and pricing from $210,990 to $406,990. Since 2014, over 425 homes have
sold in Maple Ridge making it one of the fast selling projects in Collier County.
Coquina at Maple Ridge: Coquina at Maple Ridge is located adjacent to the larger Maple Ridge project. This
community is designed with smaller, single family lots (45’). This community has homes ranging in size from
1,348 square feet to 2,251 square feet and pricing ranging from $210,990 to $262,990. Since 2015, over 210
homes have sold in this project.
Maple Ridge Reserve/Silverwood: Maple Ridge Reserve is one the newer communities within Ave Maria and is
intended for larger, single family lots and residences. The development has homes ranging in size from 3,097
square feet to 4,358 square feet. Pricing within this community ranges from $366,990 to $484,990. Marketing
began in approximately July 2015. There are 51 lots in Phase I. Due to slow sales, the developer is converting
future phases to smaller 45’ lots with a project known as Silverwood. Under 30 homes have sold in the
development since 2016.
Avalon Park: Avalon Park is the newest community within Ave Maria and is being developed by Pulte Homes.
The development will consist of 1,200 units with homes ranging in size from 1,565 square feet to 4,242 square
feet. Pricing within this community ranges from $242,990 to $433,990. Over 50 homes have sold in this project
since 2015.
Town Center and the Arthrex Commerce Park: The La Piazza Town Center is located adjacent to the university
campus near the northerly edge of the town of Ave Maria and is centered around the Ave Maria Oratory Church.
The Town Center features retail shops and restaurants as well as office space and public services. Located near
the southerly end of the Town of Ave Maria, the Arthrex Commerce Park is a 57-acre flex/light industrial park
anchored by a 197,000 square foot manufacturing facility for Arthrex, Inc., a major medical instrument
manufacturing company. This industrial park will eventually encompass 200 acres accommodating a wide range
of businesses, R&D and manufacturing.
Ave Maria experienced strong initial growth in 2007 with 177 sales followed by 2008-2012 which had an average
of 48 sales per year. A resurgence in sales occurred in 2012 with 107 sales and continued with 183 sales in
2014, 287 sales in 2015, 321 sales in 2016, and 337 sales in 2017. In total, there have been just over 1,700
closed sales. According to Metro Study, Inc., Ave Maria has led the Lee/Collier County markets in annual starts
and annual closings for 13 consecutive quarters.
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Source: Collier County Property Appraiser; compiled by Maxwell, Hendry & Simmons, LLC.
Orange Blossom Ranch MPUD
The Orange Blossom Ranch MPUD is located just east of the subject property on both the north and south sides
of Oil Well Road. The MPUD is a mixed-use development with a maximum of 1,600 units, and 200,000 square
feet of commercial and office leasable area. Currently, the residential components are being marketed with
Pulte Homes and Lennar Homes both offering residential product. Lennar is offering attached villas ranging
from 1,417 square feet to 1,564 square feet with a base price of the low $200,000s to over $225,000 and
single family homes ranging from 1,677 square feet to 3,867 square feet with a base price of just under
$300,000 to over $400,00. Pulte Homes is offering single family homes ranging from 1,674 square feet to
3,811 square feet with a base home price from the high $200,000’s to over $400,000.
The majority of the area east of the subject and, more specifically, the area surrounding Ave Maria is within the
Rural Land Stewardship Overlay, which encourages conservation, clustering of development and smart growth
concepts. Overall, this area generally serves as an agricultural and rural community with the exception of Ave
Maria, and the western portions of the area which are more suburban. Of significance is a proposed project to
the west of Ave Maria known as Rural Lands West. This project is proposed to be developed by the developer of
Ave Maria, Collier Enterprises. The project will eventually include up to 10,000 residences and nearly 2.1 million
square feet of commercial space. It is projected that permitting will take 18 to 24 months.
As illustrated, the Collier County and trends surrounding the subject remain ahead of state and national trends.
As this area continues to grow, and at a rate faster than Collier County, this area will transition from a remote
area to an area with urban centers such as Ave Maria, and Rural Land West, and will continue to gain market
acceptance.
Potential Future Developments
This portion of Collier County historically was less developed with the primary developments being agricultural
uses, some residential uses, and minimal commercial uses. However, with significant traffic arteries such as
Immokalee Road and Collier Boulevard (CR951), development patterns have shifted over the past two decades
with a steady growth pattern along Immokalee Road from Interstate 75 east to the area surrounding the subject
property. Over the past decade, the area along Immokalee Road from Interstate 75 east to just east of Collier
Boulevard has experienced significant growth in the form of residential and commercial development.
Major residential developments have changed the landscape of the area. Most notably Twin Eagles, The Quarry,
and Esplanade are golf course communities which have infused new households to the area. Moreover, there
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is a private golf course known as Bonita Bay Club Naples. Smaller projects include: Tuscany Cove, The Preserve
at Bristol Pines, Tuscany Pointe, Compass Landing (Mattamy Homes), and Mockingbird Crossing (DR Horton).
In addition to the aforementioned projects, the following are projects with significant inventory remaining,
approved, or potential for the market area:
Projects with residential potential:
1) 951 Villas RPUD (Ord. # 18-40): 37.5 acres, approved for 148 residential units
2) Abaco Bay (Ord. #16-09): 15.9 acres approved for 104 units. 8 have been developed.
3) Bent Creek Preserve (Ord. #12-26): 138.40 acres approved for 450 units. 117 units have been
developed.
4) Brentwood Lakes fka Twin Eagles South (PL20130001020): 1,572 potential residential units.
5) Bucks Run (Ord. #05-39): 39.05 acres approved for 21,405 square feet of commercial which has been
developed. The project also has approval for 156 single family units with 60 developed.
6) Esplanade Golf & Country Club (Ord. #14-36): 1,658 acres approved for 1,233 residential units of which
118 are multifamily.
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7) LaMorada: 524.97 acres approved for 388 units of which 233 will be single family and 155 will be
other residential units.
8) Olde Cypress (DRI, Ord. #00-53): 538.10 acres with 12.50 acres commercial approved for 165,000
square feet. This has been developed. The project also has approval for 1,100 units of which 570
multifamily units and 360 single family units have been developed.
9) Rushton Pointe RPUD (Ord. # 18-17): 38.10 acres, approved for 229 residential units
10) Tuscany Pointe (Ord. #13-53): 30.46 acres approved for 120 single family units of which 116 have
been developed.
11) Warm Springs (Ord. #15-05): 113.67 acres approved for 400 single family units of which 105 have
been developed.
12) Wolf Creek (Ord. #13-37): 189.00 acres approved for 754 residential units. 196 single family and 118
multifamily units have been developed.
Projects with commercial potential:
13) Addie’s Corner PUD (Ord. # 11-08): 23.33 acres, approved for 75,000 square feet of commercial and
250 multifamily units. An Aldi grocery store is planned on a portion of the site along with a 240 unit
apartment complex known as Addison Place (under construction).
14) AutoZone (PL20180002977): 7,381 square foot retail-auto parts store.
15) Cleary RPUD (Ord. # 17-44): 8.99 acres, approved for 200 ACLF units or 63 residential units.
16) Living Word Family Church (Ord. # 13-60): 35.00 acres, developed with a 43,035 square foot church.
Also approved for 200 ACLF units.
17) Heritage Bay (DRI 01-01, Ord. #10-24): 73.50 acres of commercial, approved for 230,000 square feet
of commercial of which 128,020 square feet have been developed. The project is also approved for
1,494 multifamily units, and 200 ACLF units.
18) Mission Hills (Ord. #00-50): 33.45 acres approved for 200,000 square feet. 29.72 acres have been
developed with 135,980 square feet.
19) Orange Blossom Ranch (Ord. #04-74): 616 acres with acres commercial approved for 200,000 square
feet of space. The project is also approved for 1,600 residential units of which 336 units have been
developed.
20) Orange Tree (Ord. #12-09): 2,136.87 acres with 33.3 acres commercial approved for 332,000 square
feet of space. 53,342 square feet has been developed. The property is also approved for 3,150
residential units of which 1,504 units have been developed.
21) Peace Lutheran Church (Resolution No. 09-241): 47,350 square feet of potential building area with a
15,500 square foot sanctuary, and 31,850 square feet for child care and multi-purpose use.
22) Pelican Nursery Plat – Baumgarten MPUD (active in approval process): requesting 370,000 square feet
of commercial, 400 dwelling units, and 140 hotel/motel units. PL201700000768. The project is to be
known as “The Point” and is being marketed by Trinity Commercial.
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23) Sonoma Oaks (Ord. #05-61): 37.50 acres of which 9.38 acres is approved for 120,000 square feet of
commercial. In addition, the site is approved for 456 ACLF units and 114 residential units.
24) Tree Farm (Ord. #07-54): 58.84 acres approved for 100,000 square feet of retail and 20,000 square
feet of other commercial. In addition, the property is approved for 281 residential units.
25) Vanderbilt Commons (Ord. #17-47): 14.49 acres approved for 200,000 square feet of commercial of
which 93,428 square feet has been developed. The property is also approved for 58 residential units.
26) Immokalee Square (application PL20180002233): 24.4 acres planned for 44,000 square feet of
commercial space, 12,000 square foot of day care, and 5.3 dwelling units per acre. A GMP amendment
and a PUD have been submitted.
27) Immokalee – Randall Commercial PUD (PL20180000709): 25.76 acres proposed for a maximum of
156,000 square feet of commercial uses with no more than 123,000 square feet of retail.
As this area continues to grow and as Collier County residents search for more affordable housing options,
development has been pushing even further east beyond the subject property with newer residential projects
such as Waterways of Naples, Orange Blossom, and, most notable, Ave Maria. All of these projects are in the
Rural Estates and/or Corkscrew planning districts.
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SEC. IV: PROPERTY DESCRIPTION
LOCATION MAPS
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AERIAL MAP
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FLOOD MAP
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ORIGINAL PLAT (PB 7/84)
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SITE SKETCH (OR 4079/1358)
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PROPERTY PHOTOGRAPHS
VIEW TO THE NORTHEAST OF SUBJECT
VIEW TO THE NORTHEAST ALONG IMMOKALEE ROAD
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VIEW TO THE SOUTHWEST OF SUBJECT
VIEW TO THE SOUTH ALONG IMMOKALEE ROAD
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PROPERTY CHARACTERISTICS
ADDRESS: None Assigned
TAX ID: 37690040003
LEGAL DESCRIPTION: Tract A, Unit 22, Golden Gate Estates, Plat Book 7, Page 84; Less 9.1208
described in Official Record Book 4079, Page 1358
LOCATION/ACCESS/
EXPOSURE:
The property is located in the northeast quadrant of Immokalee Road (Arterial,
6-lanes, paved, divided) and 4th Street NE (Local, 2-lanes, paved), with
excellent exposure to traffic passing by the parcel along Immokalee Road. 4th
Street forms a lighted intersection with Randall Boulevard (Collector, 2-lanes,
paved). Vehicular access to the subject property is gained from both
Immokalee Road and 4th Street. Immokalee Road has a 2017 AADT of
7,400±.
SIZE (SITE AREA)/SHAPE:
Frontage (ft) 2,285± along Immokalee Road
Site Area (sq. ft.) 2,072,114±
Site Area (acres) 47.5692±
Shape Triangular
This information is based upon public records. This appraisal assumes that the
site area is accurate. No survey was provided.
PHYSICAL FEATURES
(TOPOGRAPHY, ELEVATION,
ETC.):
The subject property is generally uncleared and appears to be approximately 1-
2 feet below the crown of the surrounding roads, at natural elevation. Drainage
on the subject property, as well as in other areas, appears to be adequate and
is primarily serviced by underground storm sewer and an open canal system.
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UTILITIES:
The subject is served by the following utilities:
Telephone: CenturyLink
Electricity: Florida Power & Light
Water: Collier County, Available
Sewer: Collier County, Available
Natural Gas None
Multimedia: Comcast
FLOOD ZONE:
The subject property is located in a flood hazard area, as indicated by the
Federal Emergency Management Agency Maps. The subject property is located
within Flood Zone AH as found on Flood Map Panel ID #12071C0240H, as of
16 May 2012. Properties located within this area are typically required to
purchase flood insurance under most financing situations. This property is not
located in a FEMA FIRM Floodway.
EASEMENTS,
ENCROACHMENTS, ETC.:
The property is subject to a 30’ road easement for 4th Street NE.
There are no known adverse easements, restrictions, encumbrances, leases,
reservations, covenants, contracts, declarations, special assessments,
ordinances, or other items of a similar nature.
No survey was provided.
ASSESSED VALUE, TAXES,
AND ASSESSMENTS:
Tax Year Market
Assessed Value Taxable Value Taxes & Assess.
2018 $1,101,246 $0 $0
2017 $410,918 $0 $0
2016 $373,562 $0 $0
The property is government owned and is therefore zero taxed. The ad valorem
taxes and annual assessments due for each period are exclusive of any early
payment discounts or late payment penalties. There are no known atypical
outstanding assessments.
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ZONING:
The subject property has a designated zoning categorization, as follows:
Governing Body Collier County
Zoning Code E (Estates)
Minimum Lot Size (sq. ft.) 2.25 acres
Per the Land Development Code:
Estate District (E). The purpose and intent of the estates district (E) is to
provide lands for low density residential development in a semi-rural to rural
environment, with limited agricultural activities. In addition to low density
residential development with limited agricultural activities, the E district is
also designed to accommodate as conditional uses, development that
provides services for and is compatible with the low density residential,
semi-rural and rural character of the E district. The E district corresponds to
and implements the estates land use designation on the future land use
map of the Collier County GMP, although, in limited instances, it may occur
outside of the estates land use designation. The maximum density
permissible in the E district shall be consistent with and not exceed the
density permissible or permitted under the estates district of the future land
use element of the Collier County GMP as provided under the Golden Gate
Master Plan.
Further specific allowable uses, minimum lot sizes, etc. for the aforementioned
zoning classification, are set forth in the Land Development Code and the
reader is encouraged to review these if further detail is required. The following
is a link to the full zoning:
(https://library.municode.com/fl/collier_county/codes/land_development_co
de?nodeId=CH2ZODIUS_2.03.00ZODIPEUSACUSCOUS_2.03.01AGDI)
FUTURE LAND USE:
The subject property has a designated future land use categorization, as
follows:
Governing Body Collier County
Future Land Use Designation Estates
Per the Comprehensive Plan:
The Estates Land Use Designation encompasses lands which are already
subdivided into semi-rural residential parcels (2.25 acres as an average)
essentially consisting of the Golden Gate Estates Subdivision. The area is
identified as having potential for population growth far removed from
supportive services and facilities. Expansion of the area shall be
discouraged. Pursuant to Policy 4.2 of the Future Land Use Element, the
Golden Gate Area Master Plan encompassing the Estates Designation was
adopted by the Collier County Board of County Commissioners on February
5, 1991. Refer to the Golden Gate Area Master Plan for siting criteria and
development standards for specific land uses.
Further details for the aforementioned future land use classifications are set
forth in the Comprehensive Plan and the reader is encouraged to review these
if further detail is required.
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SEC. V: HIGHEST & BEST USE ANALYSIS
Real estate is valued in terms of its highest and best use. Highest and best use is the use which would be the
most profitable and likely use of a property. It may also be defined as that available use and program of future
utilization which produces the highest present land value. Highest and best use is defined by The Dictionary of
Real Estate Appraisal, 6th Edition, as:
1. The reasonably probable use of property that results in the highest value. The four criteria that the highest
and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum
productivity.
2. The use of an asset that maximizes its potential and that is possible, legally permissible, and financially
feasible. The highest and best use may be for continuation of an asset’s existing use or for some alternative
use. This is determined by the use that a market participant would have in mind for the asset when
formulating the price that it would be willing to bid. (IVS)
3. [The] highest and most profitable use for which the property is adaptable and needed or likely to be needed
in the reasonably near future. (Uniform Appraisal Standards for Federal Land Acquisitions)
The Highest and Best Use Analysis begins with an analysis of the property as if vacant and available to be put to
its highest and best use. The property is further analyzed if there are improvements on the property or proposed
for the site. The four criteria of highest and best use that a property must meet are as follows:
Legally Permissible Use - what uses are permitted by zoning and deed restrictions on
the subject property?
Physically Possible Use - what uses are physically possible to put on the site?
Financially Feasible Use - which possible and permissible uses will produce a net return
to the owner of the site?
Maximally Productive Use - among the feasible uses, which use will produce the
highest net return?
PRESENT USE
The subject property is presently utilized for speculative holding for future development.
HIGHEST AND BEST USE AS VACANT
The highest and best use analysis of the site as though vacant assumes that a site is either vacant or can be
made so through demolition of any improvements. This analysis examines the type of improvement that is most
appropriate for a particular site.
Legally Permissible
Within this community, the future land use categories are broad indicators of growth potential such as raw
residential density and service provision, while the zoning designation controls specific allowable development.
This property is zoned E (Estates) and has a future land use of Estates. This zoning/future land use combination
is designed to maintain the exurban/rural design of the original Golden Gate Estates development, with allowable
uses overwhelming focused on agricultural and rural, single-family residential uses. With a gross density of 2.25
dwelling units per acre, the property could be developed by right with 21 units. This is a reasonable expectation,
as a number of nearby properties are undergoing/have undergone a similar process (SEE REGIONAL AND
MARKET ANALYSIS FOR POTENTIAL PROJECTS), including Randall Commercial and Immokalee Square.
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Physically Possible
Various physical factors have an effect on the uses to which a property may be developed. These factors may
include size, shape, topography, and soil conditions.
The site area is sufficient to allow development and all legally permissible uses could be physically placed on the
subject without any unreasonable hindrance.
The terrain and shape of the subject property are conducive for development.
The utilities available to the subject site are adequate for the legally permissible uses.
The physical aspects of the property do not impose apparent limitations on development and do not preclude
any of the legally permissible uses.
Based on the physical characteristics of the site, the legally permissible uses would be physically possible.
Financially Feasible
As long as a potential use has value commensurate with its cost and conforms to the first two tests, the use is
considered to be financially feasible.
In contemplating the feasible uses, consideration must be given to the site location and access. Although the
subject property is located in the original Golden Gate Estates development, the expansion of Immokalee Road
to a six-lane arterial dramatically changed the nature of this corridor, particularly for those properties located
along the road or immediately adjacent. The nexus of Randall Boulevard/Immokalee Road/Oil Well Road has
experienced significant development over the last several years, with most recently a Publix anchored
commercial development on the southeast quadrant of the subject intersection. At the subject size (47.5692
acres), this is an excellent candidate for re-zoning and the typical market participant would view this as such.
The existing Estates zoning would be viewed as a holding or “unzoned” condition and would look to pursue a
planned development that would allow for greater density than the 2.25 du/ac allowed by right. This area of
Collier County, like most of Southwest Florida currently, is experienced continued demand for residential product
and related commercial development and similar “unzoned” properties have recently undergone, or are
undergoing, the same rezoning/future land use change process in order to achieve higher development
potential.
Maximally Productive
The maximally productive use is that development option which will return the greatest profit to the eventual
developer. In more urban settings, this development option may be very specific and obvious, while in more
suburban settings, with lower ratios of existing build-out, these options may be more general and broad. In the
case of the subject property, which is located in a suburban environment, the financially feasible uses are
considered equally productive options. The potential for development exists in the short to medium-term future
and therefore, the highest and best use of the subject property is for speculative holding for residential and/or
mixed-use development following rezoning being probable.
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SEC. VI: VALUATION OF SUBJECT PROPERTY
THE APPRAISAL PROCESS
There are three standard approaches to property valuation:
Cost Approach to Value
Sales Comparison Approach to Value
Income Approach to Value
Each of these three approaches usually will indicate a slightly different value. After all of the factors of the three
approaches have been carefully weighed, the indicators of value are correlated to arrive at a final opinion of
value.
Cost Approach to Value
The Cost Approach to Value requires estimating the replacement cost new of the improvements, utilizing current
labor and material prices and modern construction techniques. Accrued depreciation is next computed and
subtracted from the cost new. Finally, the land value is added to the remainder to derive a value for the property
as a whole. The Cost Approach is most reliable when the improvements are new and the land value can be
reasonably estimated. Conversely, when the improvements are old and/or adequate land sales are not available,
the Cost Approach tends to lose credence.
Sales Comparison Approach to Value
An estimate under the Sales Comparison Approach to Value is derived by comparing the property under appraisal
with other similar properties that have sold in recent months. The Sales Comparison Approach is most reliable
when the comparable sales are very similar to the subject. Conversely, when large or numerous adjustments
are necessary, the Sales Comparison Approach is less reliable.
Income Approach to Value
The Income Approach to Value is normally applied only to commercial or strictly income oriented properties, since
it measures the present worth of future rights to income. The Income Approach to Value, when adequate income
and expense data are available, is probably the most reliable approach in the valuation of commercial properties
as it best represents investors' and lenders' actions in the marketplace.
Approaches Developed
As the subject of this appraisal is a vacant tract of land, we have utilized the Sales Comparison Approach to
Value. As they are not applicable to the property type, the Cost Approach and Income Approach have not been
utilized.
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LAND VALUATION (THE SALES COMPARISON APPROACH TO VALUE)
The Sales Comparison Approach to Value is a process of comparing sales of similar properties in the marketplace
to the subject parcel.
Market data, when carefully verified and analyzed is good evidence of value because it represents the actions
and reactions of sellers, users, and investors. The market value estimate has been defined as an interpretation
of the reactions of typical users and investors in the market. The Sales Comparison Approach is based on the
principle of substitution, which states that a prudent person will not pay more to buy a property than it will cost
to buy a comparable substitute property. The price a typical purchaser pays is usually the result of an extensive
shopping process in which he is constantly comparing available alternatives.
The steps in the Sales Comparison Approach are:
1. Seek out similar properties for which pertinent sales and data are available.
2. Qualify the prices as to terms, motivating forces, and bona fide nature.
3. Compare each of the comparable properties’ important attributes with the corresponding ones of
the property being appraised under the general division of time, location, and physical
characteristics.
4. Consider all dissimilarities in terms of their probable effect upon the sale price.
5. Formulate an opinion of relative value of the property being appraised as compared with the price
of each similar property.
Source: Appraisal Institute, The Appraisal of Real Estate, 14th ed. (Chicago: Appraisal Institute, 2013).
In developing an opinion of “as is” land value for the subject property via the Sales Comparison Approach, we
have analyzed the following comparable sales:
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COMPARABLE LAND SALE MAP
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COMPARABLE LAND SALE 1
3569
DATE OF SALE: March 05, 2019 ADDRESS: SE Corner Golden Gate Blvd/25th St SW
SALE PRICE: $250,000 STRAP #: 36817920004
SALE PRICE (ADJUSTED): $250,000 SALE CONDITIONS: Arm's Length
RECORDING: 5605/1619 UTILITIES: Telephone, Electric
GRANTOR: Patricia M. Samuelson ZONING: E
GRANTEE: ARCS Investment, LLC LAND USE: Estates
FINANCING: Cash or Equal SALE HISTORY: None in prior 3 years
TOPOGRAPHY: Uncleared ACCESS: Direct (Intersection)
VERIFICATION: Broker HIGHEST AND BEST USE: Spec. Hold.
SITE AREA: 224,334 Square Feet
5.150 Acres
UNIT OF VALUE: $1.11 Per SF
$48,544 per AC
COMMENTS: This is the sale of a 5.15+/- acre parcel located on the southeast corner of Golden Gate
Boulevard West and 25th Street SW in Naples.
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COMPARABLE LAND SALE 2
3571
DATE OF SALE: July 09, 2018 ADDRESS: Immokalee Road
SALE PRICE: $2,400,000 STRAP #: 00214000003 & 00214160008
SALE PRICE (ADJUSTED): $2,400,000 SALE CONDITIONS: Arm's Length
RECORDING: 5534/0851 UTILITIES: Full Available
GRANTOR: World Strategic Alliances, LLC ZONING: A-MHO
GRANTEE: Immokalee Square, LLC LAND USE: Rural Fringe Mixed Use Disrict
(Receiving)
FINANCING: Cash or Equal SALE HISTORY: 05/2016 - $1,200,000 ($1.12/sf)
TOPOGRAPHY: Uncleared ACCESS: Direct (Intersection)
VERIFICATION: Grantee HIGHEST AND BEST USE: Spec. Hold.
SITE AREA: 1,067,656 Square Feet
24.510 Acres
UNIT OF VALUE: $2.25 Per SF
$97,919 per AC
COMMENTS: This is the sale of a future development parcel located on the southwest corner of Immokalee
Road and Catawba Street, east of Collier Boulevard, in Naples. Subsequent to the purchase, the Grantee
pursued rezoning to allow for 44,000 square feet of commercial space, 12,000 square foot of day care, and
5.3 dwelling units per acre.
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COMPARABLE LAND SALE 3
3050
DATE OF SALE: March 05, 2018 ADDRESS: Wilson Boulevard N
SALE PRICE: $132,000 STRAP #: 37281320006
SALE PRICE (ADJUSTED): $132,000 SALE CONDITIONS: Arm's Length
RECORDING: 5438/0025 UTILITIES: Telephone, Electric
GRANTOR: Estate of Ralph B. Strouse, Jr. ZONING: E
GRANTEE: Maritza Ramos LAND USE: Estates
FINANCING: Cash or Equal SALE HISTORY: None in prior 3 years
TOPOGRAPHY: Uncleared ACCESS: Direct (Open Median)
VERIFICATION: Broker HIGHEST AND BEST USE: Spec. Hold.
SITE AREA: 224,334 Square Feet
5.150 Acres
UNIT OF VALUE: $0.59 Per SF
$25,631 per AC
COMMENTS: This is the sale of a 5.15+/- acre parcel located on the east side of Wilson Boulevard N, north
of Golden Gate Boulevard W in Naples.
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COMPARABLE LAND SALE 4
3113
DATE OF SALE: August 29, 2017 ADDRESS: Pine Ridge Road
SALE PRICE: $405,000 STRAP #: 38390920008
SALE PRICE (ADJUSTED): $405,000 SALE CONDITIONS: Arm's Length
RECORDING: 5430/3902 UTILITIES: Full Available
GRANTOR: Anthony Charles Purpero ZONING: E
GRANTEE: R & S, Inc LAND USE: Estates
FINANCING: Cash SALE HISTORY: None in previous five years
TOPOGRAPHY: Uncleared ACCESS: Direct (Intersection)
VERIFICATION: Broker HIGHEST AND BEST USE: Spec. Hold.
SITE AREA: 224,334 Square Feet
5.150 Acres
UNIT OF VALUE: $1.81 Per SF
$78,641 per AC
COMMENTS: The property is located at the southwest corner of Pine Ridge Road and Logan Boulevard S in
Naples.
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COMPARABLE LAND SALE 5
2829
DATE OF SALE: November 28, 2016 ADDRESS: Collier Boulevard
SALE PRICE: $675,000 STRAP #: 36760800006 & 36760720005
SALE PRICE (ADJUSTED): $675,000 SALE CONDITIONS: Arm's Length
RECORDING: 5337/3573 UTILITIES: Telehone, Electric
GRANTOR: MDLT Holdings, LLC ZONING: E (Estates)
GRANTEE: "Grace" Romanian Baptist Church of
Naples, Inc.
LAND USE: Mixed Use District-Residential Estates
Subdistrict
FINANCING: Cash SALE HISTORY: None in prior 3 years
TOPOGRAPHY: Wooded ACCESS: Direct (Intersection)
VERIFICATION: Broker HIGHEST AND BEST USE: Spec. Hold.
SITE AREA: 326,700 Square Feet
7.500 Acres
UNIT OF VALUE: $2.07 Per SF
$90,000 per AC
COMMENTS: The property consists of two parcels located at the southeast corner of Collier Boulevard and
Golden Gate Boulevard West and on the west side of Weber Boulevard South in Naples. One parcel also has
frontage on the north side of 1st Avenue SW and is improved with a single family home that had no
contributory value and will be demolished. A religious facility is planned to be constructed on the site.
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COMPARABLE LAND SALE 6
2823
DATE OF SALE: August 19, 2016 ADDRESS: 13792 Tamiami Trail E
SALE PRICE: $4,000,000 STRAP #: 00736480004
SALE PRICE (ADJUSTED): $4,000,000 SALE CONDITIONS: Arm's Length
RECORDING: 5305/3297 UTILITIES: Telephone, Electric
GRANTOR: Roberto Su, et al. ZONING: RSF-3 & A
GRANTEE: Argo Manatee Collier, LP LAND USE: Urban Coastal Fringe Subdistrict
FINANCING: Cash SALE HISTORY: None in the previous three years
TOPOGRAPHY: Uncleared ACCESS: Direct (Intersection)
VERIFICATION: Broker HIGHEST AND BEST USE: Spec. Hold.
SITE AREA: 3,310,996 Square Feet
76.010 Acres
UNIT OF VALUE: $1.21 Per SF
$52,625 per AC
COMMENTS: This is the sale of a future development parcel located on the south side of Tamiami Trail, east
of Collier Boulevard, at the intersection with Manatee Road in Naples. The closing period was 3 years due to
obtaining permits (wildlife, wetlands, etc.), however they closed prior to obtaining final permits, which were
obtained subsequently. The price was negotiated downward by roughly $1,000,000 due to environmental
impacts and fill costs.
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Comparable Land Sales Chart
The comparable sales and our analysis thereof are summarized in the following chart:
Subject Comparable No. 1 Comparable No. 2 Comparable No. 3
Transaction Data:
Date of Sale: Mar-19 Jul-18 Mar-18
Sale/Listing Price: $250,000 $2,400,000 $132,000
Sale/Listing Price (Adjusted): $250,000 $2,400,000 $132,000
Physical Data:
Street Address: Immokalee Road
SE Corner Golden Gate
Blvd/25th St SW Immokalee Road Wilson Boulevard N
City: Naples Naples Naples Naples
Exposure (Frontage):Immokalee Rd (6-lane
Arterial)
Golden Gate Blvd (4-lane
Arterial)
Immokalee Rd (6-lane
Arterial)
Wilson Blvd (2-lane
Collector)
Access: Direct (Closed Median) Direct (Intersection) Direct (Intersection) Direct (Open Median)
Gross Sq. Ft. (Site): 2,072,114 224,334 1,067,656 224,334
Gross Acres (Site): 47.5692 5.15 24.51 5.15
Topography: Uncleared Uncleared Uncleared Uncleared
Shape: Triangular Rectangular Irregular Rectangular
Utilities: Full Available Telephone, Electric Full Available Telephone, Electric
Use Data:
Zoning: E E A-MHO E
Land Use: Estates Estates
Rural Fringe Mixed Use
Disrict (Receiving)Estates
Highest and Best Use: Spec. Hold. Spec. Hold. Spec. Hold. Spec. Hold.
Sales Price Analysis:
Price per Square Foot (Site): $1.11 $2.25 $0.59
Price per Acre (Site): $48,544 $97,919 $25,631
Transactional Adjustments:
Property Rights: 0.0%0.0%0.0%
$1.11 $2.25 $0.59
Financing Terms: 0.0%0.0%0.0%
$1.11 $2.25 $0.59
Conditions of Sale: 0.0%0.0%0.0%
$1.11 $2.25 $0.59
Expenditures After Purchase: 0.0%0.0%0.0%
$1.11 $2.25 $0.59
Market Conditions (time): 0.0%4.0%6.0%
Adjusted Price: $1.11 $2.34 $0.62
Physical Adjustments:
Location: 25% 0% 40%
Exposure (Frontage): 5% 0% 20%
Access: -10% -10% -5%
Size (Site Area): -10% -5% -10%
Topography: 0% 0% 0%
Shape: 0% 0% 0%
Utilities: 10% 0% 10%
Zoning/Land Use: 0%-5%0%
Net Adjustment:20% -20% 55%
Adjusted Price: $1.34 $1.87 $0.97
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Subject Comparable No. 4 Comparable No. 5 Comparable No. 6
Transaction Data:
Date of Sale: Aug-17 Nov-16 Aug-16
Sale/Listing Price: $405,000 $675,000 $4,000,000
Sale/Listing Price (Adjusted): $405,000 $675,000 $4,000,000
Physical Data:
Street Address: Immokalee Road Pine Ridge Road Collier Boulevard 13792 Tamiami Trail E
City: Naples Naples Naples Naples
Exposure (Frontage):Immokalee Rd (6-lane
Arterial)
Pine Ridge Rd (4-lane
Arterial)Collier Blvd (6-lane Arterial) Tamiami Trl (4-lane Arterial)
Access: Direct (Closed Median) Direct (Intersection)
Direct (Lightted
Intersection)Direct (Intersection)
Gross Sq. Ft. (Site): 2,072,114 224,334 326,700 3,310,996
Gross Acres (Site): 47.5692 5.15 7.50 76.01
Topography: Uncleared Uncleared Uncleared Uncleared
Shape: Triangular Rectangular Irregular Irregular
Utilities: Full Available Full Available Telehone, Electric Telephone, Electric
Use Data:
Zoning: E E E (Estates) RSF-3 & A
Land Use: Estates Estates
Mixed Use District-
Residential Estates
Urban Coastal Fringe
Subdistrict
Highest and Best Use: Spec. Hold. Spec. Hold. Spec. Hold. Spec. Hold.
Sales Price Analysis:
Price per Square Foot (Site): $1.81 $2.07 $1.21
Price per Acre (Site): $78,641 $90,000 $52,625
Transactional Adjustments:
Property Rights: 0.0%0.0%0.0%
$1.81 $2.07 $1.21
Financing Terms: 0.0%0.0%0.0%
$1.81 $2.07 $1.21
Conditions of Sale: 0.0%0.0%0.0%
$1.81 $2.07 $1.21
Expenditures After Purchase: 0.0%0.0%0.0%
$1.81 $2.07 $1.21
Market Conditions (time): 3.5%8.0%9.5%
Adjusted Price: $1.87 $2.23 $1.32
Physical Adjustments:
Location: -15% 0% 0%
Exposure (Frontage): 5% 0% 5%
Access: -10% -20% -10%
Size (Site Area): -10% -10% 10%
Topography: 0% 0% 0%
Shape: 0% 0% 0%
Utilities: 10% 10% 10%
Zoning/Land Use: 0%-5%0%
Net Adjustment:-20% -25% 15%
Adjusted Price: $1.49 $1.67 $1.52
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Adjustments to Comparable Data
The Sales Comparison Approach is dependent on “…adjustments to the sale prices of the comparables based
on the elements of comparison.” The Appraisal Institute outlines ten basic elements of comparison to be
considered:
1. Real property rights conveyed
2. Financing terms
3. Conditions of sale
4. Expenditures made immediately after purchase
5. Market conditions
6. Location
7. Physical characteristics
8. Economic Characteristics
9. Use
10. Non-realty components of value
For ease of analysis, we have divided this list into two parts. This division is based on the type of adjustments
made for the differences. Elements 1 – 5 are considered to be transactional adjustments, whereas elements 6
– 10 are considered to be physical adjustments.
Transactional Adjustments
There were no transactional adjustments warranted for Property Rights Conveyed, Financing Terms, Conditions
of Sale, and Expenditures Made Immediately after Purchase for these sales.
In considering Changes in Market Conditions since the time of sale, we must consider the significant changes in
the Southwest Florida real estate market. The property value trend found throughout Southwest Florida changed
drastically over the last decade, with substantial increases during the period of 2002-2005, followed by equally
substantial declines during the period of 2006-2009 and this declining trend reversed in 2012. Based on our
paired sales analyses of properties sale/re-sales in the region, the comparable sales have been adjusted at
0.50% per month for market conditions.
11.A.5
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48
Physical Adjustments
We have considered the following specific physical adjustments to the comparable sales. A brief description of
the nature of these characteristics is provided below.
Location: Location refers to the economic attributes of the surrounding market area. These attributes
affect the financially feasible uses of the site.
o Sales 1 and 3 are inferior to the subject, as they are located on arterial and collector travel
corridors, thus they are better situated for development than say an interior, local street
location, but these locations have not yet demonstrated demand for non-rural development,
particularly Sale 3. Sale 4 is superior in location.
Exposure (Frontage): This refers to the exposure to the fronting thoroughfare (i.e. - capacity/traffic
count).
o As the subject has potential commercial appeal and exposure is a component of commercial
value, Sales 1,4, and 6 are slightly inferior, while Sale 3 is inferior.
Access: This refers to the accessibility of a property (i.e. – frontage road vs. direct frontage, existence
of median cuts, etc.).
o All of the sales are slightly superior to superior to the subject. They have access either via an
open median of at an intersection, while the subject lacks the “hard corner” at the intersection
of 4th Street and Immokalee Road and being on the curve, will at best likely be granted a
controlled turn median cut.
Size (Site Area): Larger parcels often sell for a lower price per unit, while smaller parcels typically sell
for a higher price per unit. This attribute affects the physically possible uses of the site.
o Sales 1-5 are superior, while Sale 6 is inferior.
Utilities: The presence or absence of certain utilities can severally impact the physically possible uses
of a site, the second test in the analysis of Highest and Best Use (i.e. - the absence of central sewer may
prevent intensive development).
o Sales 1 and 3-5 are inferior in utilities.
Zoning/Future Land Use: Zoning and Future Land Use directly determine the legally permissible uses
of a site, the first test in the analysis of Highest and Best Use.
o Sales 2 and 5 are superior in future land use, giving them an advantage in re-zoning possibilities
as compared with the subject.
11.A.5
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49
Value Conclusion
These comparables range in adjusted price as shown below:
These sales present the competitive market for “unzoned” property in the immediate area. Sales 1 and 3 are
smaller tracts with a much longer holding period horizon than the subject. Sales 4 and 5 are the opposite, with
immediate development likely to be pursued. Sales 2 and 6 are most similar in development horizon to the
subject, likely to come in the short to medium term future. Overall, Sale 2 was given the greatest weight.
Considering all of the sales presented and their relative inferiority/superiority, it is our opinion that the value of
the subject property falls near the middle end of this range, at $1.75 per square foot, as shown below:
Descriptive Statistics:
Multiplier:*Price per SF:
Mean:$1.48
Median:$1.51
Standard Deviation:$0.31
Minimum:$0.97
Maximum:$1.87
Range:$0.90
* Based on adjusted price
Site Area (sf)Value per Sq. Ft.Opinion of Value Rounded to
2,072,114 $1.75 $3,626,200 $3,630,000
11.A.5
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50
HYPOTHETICAL VALUATION
In addition to the “as is” condition, we have also developed an opinion of value under the hypothetical condition
that the property has been rezoned to a PUD zoning and a GMP comprehensive plan change has been approved
that allows for mixed-use development. In developing this opinion of value, we have utilized a Hypothetical
Condition, assuming that the subject property had these approvals in place as of the date of value. For the
purposes of this appraisal, we have assumed that the subject parcel is already approved for mixed-use
development, with the following requirements: 75 foot setbacks - buffered, 3 story maximum, residential
competent at 4 units per acre (density bonus not included) for 37.57 acres of residential (150 units), and 25,000
square feet of commercial per acre for acres of commercial (250,000 sq. ft.). This scenario is for planning
purposes and there is no guarantee of approvals allowing for such uses on the subject property. In this analysis
we have utilized the Sales Comparison Approach, which follows:
11.A.5
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COMPARABLE LAND SALE MAP
11.A.5
Packet Pg. 183 Attachment: Maxwell- Collier County_Randall Curve (8648 : Randall Curve)
52
COMPARABLE LAND SALE 1
3524
DATE OF SALE: January 10, 2019 ADDRESS: NE Corner US 41/Corkscrew Rd
SALE PRICE: $24,562,500 STRAP #: Several - Comments
SALE PRICE (ADJUSTED): $24,562,500 SALE CONDITIONS: Arm's Length
RECORDING: 2019000008969 UTILITIES: Full
GRANTOR: Village Partners, LLC ZONING: MPD
GRANTEE: The Trust for Public Land LAND USE: Urban Community & Outlying Suburban
FINANCING: Cash SALE HISTORY: None within prior three years
TOPOGRAPHY: Uncleared ACCESS: Direct (Lighted Intersection)
VERIFICATION: Grantee: Kate Brown (TPL) HIGHEST AND BEST USE: Mixed-Use
SITE AREA: 2,709,432 Square Feet
62.200 Acres
UNIT OF VALUE: $9.07 Per SF
$394,895 per AC
COMMENTS: The property is located at the northeast signalized corner of U.S. 41 and Corkscrew Road in
Estero. The Village of Estero's town council adopted Resolution No. 2018-06 on September 20, 2018,
approving the purchase for embracing Estero's historic heritage and protecting the environment. The
property was part of a larger tract (85.07 acres) that had approvals (Estero on the River MPD) for 300,000
square feet of commercial space and 530 residential units.
11.A.5
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53
COMPARABLE LAND SALE 2
3507
DATE OF SALE: December 20, 2018 ADDRESS: South Tamiami Trail
SALE PRICE: $52,500,000 STRAP #: 33-46-25-E3-U1936.2290
SALE PRICE (ADJUSTED): $52,500,000 SALE CONDITIONS: Arm's Length
RECORDING: 2018000298648 UTILITIES: Full
GRANTOR: Estero North Point, Ltd. ZONING: MPD
GRANTEE: Fawcett Memorial Hospital, inc. LAND USE: Urban Community
FINANCING: Cash SALE HISTORY: None in previous five years
TOPOGRAPHY: Cleared ACCESS: Direct (Lighted Intersection)
VERIFICATION: Third Party HIGHEST AND BEST USE: Mixed Use
SITE AREA: 4,343,368 Square Feet
99.710 Acres
UNIT OF VALUE: $12.09 Per SF
$526,527 per AC
COMMENTS: The property is located at the northeast signalized corner of U.S. 41 and Williams Road in
Estero. The property had prior Lee County approvals (North Point MPD/DRI) for 670,000 square feet of non-
residential floor area (120,000 office & 550,000 retail), 150-hotel rooms, and 150 multi-family units. A
hospital is planned for the site.
11.A.5
Packet Pg. 185 Attachment: Maxwell- Collier County_Randall Curve (8648 : Randall Curve)
54
COMPARABLE LAND SALE 3
3299
DATE OF SALE: May 17, 2018 ADDRESS: 14285-14335 Collier Boulevard
SALE PRICE: $5,532,500 STRAP #: 00203280009+
SALE PRICE (ADJUSTED): $5,532,500 SALE CONDITIONS: Arm's Length
RECORDING: 5511/2775 UTILITIES: Full
GRANTOR: Voila II, LLC ZONING: MPUD
GRANTEE: We Have Arrived, LLC LAND USE: Estates-Mixed Use District, Residential
Estates Subdistrict
FINANCING: Cash SALE HISTORY: None in previous five years
TOPOGRAPHY: Cleared ACCESS: Direct (Intersection)
VERIFICATION: Broker HIGHEST AND BEST USE: MIxed-Use
SITE AREA: 1,633,500 Square Feet
37.500 Acres
UNIT OF VALUE: $3.39 Per SF
$147,533 per AC
COMMENTS: The property is located at the southwest corner of Collier Boulevard and Wolfe Road in Naples.
This is a lighted intersection. The property stretches to the northwest corner of Collier Boulevard and
Mission Hills Drive, as well. This is the Sonoma Oaks MPUD, which allows for 120,000 sf of commercial use
on 9.38 acres, 456 ACLF units, 114 residential units, and 5.32 acres of conservation.
11.A.5
Packet Pg. 186 Attachment: Maxwell- Collier County_Randall Curve (8648 : Randall Curve)
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COMPARABLE LAND SALE 4
3029
DATE OF SALE: November 29, 2016 ADDRESS: Bonita Beach Road
SALE PRICE: $6,381,000 STRAP #: 06-48-26-B1-2800F.0000, .000A, .0010,
.0020, .0030, 00CE
SALE PRICE (ADJUSTED): $6,381,000 SALE CONDITIONS: Arm's Length
RECORDING: 2016000253674 UTILITIES: Full
GRANTOR: Bonita Exchange, LLC ZONING: CPD
GRANTEE: TRG Bonita Exchange, LLC LAND USE: Interchange Commercial
FINANCING: Cash SALE HISTORY: 05/2016 - $5,200,000
TOPOGRAPHY: Partially cleared ACCESS: Direct (Frontage Road)
VERIFICATION: Grantee: DR Horton HIGHEST AND BEST USE: Residential
SITE AREA: 914,324 Square Feet
20.990 Acres
ALLOWABLE UNITS: 242
UNIT OF VALUE: $6.98 Per SF
$304,002 per AC
$26,368 Per Unit
COMMENTS: The property is located at the southwest quadrant of I-75 and Bonita Beach Road in Bonita
Springs. A 242 unit apartment community is planned for the site.
11.A.5
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COMPARABLE LAND SALE 5
2763
DATE OF SALE: October 11, 2016 ADDRESS: 9201/9301 Corkscrew Road
SALE PRICE: $5,100,000 STRAP #: 34-46-25-00-00002.0010, 34-46-25-E1-
U2011.2380
SALE PRICE (ADJUSTED): $5,100,000 SALE CONDITIONS: Arm's Length
RECORDING: 2016000215359 UTILITIES: Full
GRANTOR: RD Investment Properties, LLC ZONING: CPD
GRANTEE: Voans SW Florida Healthcare, Inc LAND USE: Suburban
FINANCING: Cash SALE HISTORY: None as assembled
TOPOGRAPHY: Cleared ACCESS: Direct (Intersection)
VERIFICATION: Broker: Adam Palmer w/ LandQwest
Commercial HIGHEST AND BEST USE: Commercial
SITE AREA: 930,442 Square Feet
21.360 Acres
UNIT OF VALUE: $5.48 Per SF
$238,764 per AC
COMMENTS: This is the sale of a commercial planned development located on the northeast corner of
Sandy Lane and Corkscrew Road in Estero. A retirement community known as the Colonnade of Estero is
planned for the site, with 340 units of independent and assisted living.
11.A.5
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COMPARABLE LAND SALE 6
2681
DATE OF SALE: June 30, 2016 ADDRESS: 3480 Pine Ridge Road
SALE PRICE: $6,975,000 STRAP #: 00288000000
SALE PRICE (ADJUSTED): $6,975,000 SALE CONDITIONS: Arm's Length
RECORDING: 5290/114 UTILITIES: Full Available
GRANTOR: Federal Deposit Insurance Corporation,
as Receiver for First Community Bank ZONING: CPUD
GRANTEE: Naples One, LLC LAND USE: Mixed Use District-Urban Residential
Subdistrict
FINANCING: Cash SALE HISTORY: None in prior 3 years
TOPOGRAPHY: Level ACCESS: Direct (Partial Median)
VERIFICATION: Broker: Phil Fischler/Fischler
Property Company HIGHEST AND BEST USE: Mixed-Use
SITE AREA: 594,594 Square Feet
13.650 Acres
UNIT OF VALUE: $11.73 Per SF
$510,989 per AC
COMMENTS: This is the sale of a development parcel located on the south side of Pine Ridge Road, east of
Livingston Road and west of I-75 in Naples. The is approved as the Brynwood Center PUD and is permitted
for 15,194 sf of commercial uses on 145,000 sf (3.33 ac) of site area, 7.16 acres of conservation and 197
ALF units on the balance.
11.A.5
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Comparable Land Sales Chart
The comparable sales and our analysis thereof are summarized in the following chart:
Subject Comparable No. 1 Comparable No. 2 Comparable No. 3
Transaction Data:
Date of Sale: Jan-19 Dec-18 May-18
Sale/Listing Price: $24,562,500 $52,500,000 $5,532,500
Sale/Listing Price (Adjusted): $24,562,500 $52,500,000 $5,532,500
Physical Data:
Street Address: Immokalee Road US 41/Corkscrew Rd South Tamiami Trail
14285-14335 Collier
Boulevard
City: Naples Estero Estero Naples
Exposure (Frontage):Immokalee Rd (6-lane
Arterial)U.S. 41 (6-lane Arterial) Tamiami Trl (6-lane Arterial) Collier Blvd (6-lane Arterial)
Access: Direct (Closed Median)
Direct (Lighted
Intersection)
Direct (Lighted
Intersection)Direct (Intersection)
Gross Sq. Ft. (Site): 2,072,114 2,709,432 4,343,368 1,633,500
Gross Acres (Site): 47.5692 62.20 99.71 37.50
Topography: Uncleared Uncleared Cleared Cleared
Shape: Triangular Irregular Irregular Rectangular
Utilities: Full Available Full Full Full
Use Data:
Zoning: MPD* MPD MPD MPUD
Land Use: Estates Urban Community & Urban Community Estates-Mixed Use District,
Highest and Best Use: Mixed-Use Mixed-Use Mixed Use MIxed-Use
Sales Price Analysis:
Price per Square Foot (Site): $9.07 $12.09 $3.39
Transactional Adjustments:
Property Rights: 0.0%0.0%0.0%
$9.07 $12.09 $3.39
Financing Terms: 0.0%0.0%0.0%
$9.07 $12.09 $3.39
Conditions of Sale: 0.0%0.0%0.0%
$9.07 $12.09 $3.39
Expenditures After Purchase: 0.0%0.0%0.0%
$9.07 $12.09 $3.39
Market Conditions (time): 1.0%1.5%5.0%
Adjusted Price: $9.16 $12.27 $3.56
Physical Adjustments:
Location: -15% -15% 0%
Exposure (Frontage): -15% -15% 0%
Access: -20% -20% -10%
Size (Site Area): 5% 10% 0%
Topography: 0% -5% -5%
Shape: 0% 0% 0%
Utilities: 0% 0% 0%
Zoning/Land Use: -10%-10%0%
Net Adjustment:-55% -55% -15%
Adjusted Price: $4.12 $5.52 $3.02
11.A.5
Packet Pg. 190 Attachment: Maxwell- Collier County_Randall Curve (8648 : Randall Curve)
59
Subject Comparable No. 4 Comparable No. 5 Comparable No. 6
Transaction Data:
Date of Sale: Nov-16 Oct-16 Jun-16
Sale/Listing Price: $6,381,000 $5,100,000 $6,975,000
Sale/Listing Price (Adjusted): $6,381,000 $5,100,000 $6,975,000
Physical Data:
Street Address: Immokalee Road Bonita Beach Road
9201/9301 Corkscrew
Road 3480 Pine Ridge Road
City: Naples Bonita Springs Estero Naples
Exposure (Frontage):Immokalee Rd (6-lane
Arterial)
Bonita Beach Rd (6-lane
Arterial)
Corkscrew Rd (4-lane
Arterial)
Pine Ridge Road (6-lane
Arterial)
Access: Direct (Closed Median) Direct (Frontage Road) Direct (Intersection) Direct (Partial Median)
Gross Sq. Ft. (Site): 2,072,114 914,324 930,442 594,594
Gross Acres (Site): 47.5692 20.99 21.36 13.65
Topography: Uncleared Uncleared Cleared Uncleared
Shape: Triangular Irregular Rectangular Irregular
Utilities: Full Available Full Full Full Available
Use Data:
Zoning: MPD* CPD CPD CPUD
Land Use: Estates Interchange Commercial Suburban Mixed Use District-Urban
Highest and Best Use: Mixed-Use Residential Commercial Mixed-Use
Sales Price Analysis:
Price per Square Foot (Site): $6.98 $5.48 $11.73
Transactional Adjustments:
Property Rights: 0.0%0.0%0.0%
$6.98 $5.48 $11.73
Financing Terms: 0.0%0.0%0.0%
$6.98 $5.48 $11.73
Conditions of Sale: 0.0%0.0%0.0%
$6.98 $5.48 $11.73
Expenditures After Purchase: 0.0%0.0%0.0%
$6.98 $5.48 $11.73
Market Conditions (time): 14.0%14.5%16.5%
Adjusted Price: $7.96 $6.28 $13.67
Physical Adjustments:
Location: -15% -15% -15%
Exposure (Frontage): 0% 5% 0%
Access: 0% -10% 0%
Size (Site Area): -5% -5% -10%
Topography: 0% -5% 0%
Shape: 0% 0% 0%
Utilities: 0% 0% 0%
Zoning/Land Use: -10%-10%-10%
Net Adjustment:-30% -40% -35%
Adjusted Price: $5.57 $3.77 $8.88
11.A.5
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60
Adjustments to Comparable Data
The Sales Comparison Approach is dependent on “…adjustments to the sale prices of the comparables based
on the elements of comparison.” The Appraisal Institute outlines ten basic elements of comparison to be
considered:
11. Real property rights conveyed
12. Financing terms
13. Conditions of sale
14. Expenditures made immediately after purchase
15. Market conditions
16. Location
17. Physical characteristics
18. Economic Characteristics
19. Use
20. Non-realty components of value
For ease of analysis, we have divided this list into two parts. This division is based on the type of adjustments
made for the differences. Elements 1 – 5 are considered to be transactional adjustments, whereas elements 6
– 10 are considered to be physical adjustments.
Transactional Adjustments
There were no transactional adjustments warranted for Property Rights Conveyed, Financing Terms, Conditions
of Sale, and Expenditures Made Immediately after Purchase for these sales.
In considering Changes in Market Conditions since the time of sale, we must consider the significant changes in
the Southwest Florida real estate market. The property value trend found throughout Southwest Florida changed
drastically over the last decade, with substantial increases during the period of 2002-2005, followed by equally
substantial declines during the period of 2006-2009 and this declining trend reversed in 2012. Based on our
paired sales analyses of properties sale/re-sales in the region, the comparable sales have been adjusted at
0.50% per month for market conditions.
11.A.5
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61
Physical Adjustments
We have considered the following specific physical adjustments to the comparable sales. A brief description of
the nature of these characteristics is provided below.
Location: Location refers to the economic attributes of the surrounding market area. These attributes
affect the financially feasible uses of the site.
o Sales 1-2 and 4-6 are superior in location, being located west of I-75.
Exposure (Frontage): This refers to the exposure to the fronting thoroughfare (i.e. - capacity/traffic
count).
o Sales 1-2 front onto US 41 (Tamiami Trail) the main commercial corridor in all of Southwest
Florida, granting them superior exposure, despite being equal in road size to the subject road.
Sale 5 is slightly inferior.
Access: This refers to the accessibility of a property (i.e. – frontage road vs. direct frontage, existence
of median cuts, etc.).
o Sales 1-2 are superior, being accessed at lighted intersections, while Sales 3 and 5 are slightly
superior, being accessed at non-lighted intersections.
Size (Site Area): Larger parcels often sell for a lower price per unit, while smaller parcels typically sell
for a higher price per unit. This attribute affects the physically possible uses of the site.
o Sales 1-2 are inferior, while Sales 4-6 are superior.
Zoning/Future Land Use: Zoning and Future Land Use directly determine the legally permissible uses
of a site, the first test in the analysis of Highest and Best Use.
o Sales 1-2 and 4-6 are superior, being weighted more toward commercial and multi-family/ALF
development, as opposed to the subject, which will feature single-family densities in the
residential portion, making it most similar to Sale 3 in this regard.
11.A.5
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Value Conclusion
These comparables range in adjusted price as shown below:
These sales present the competitive market for suburban mixed-use properties that will be developed with
distinct residential and commercial uses, as opposed to an urban mixed-use property that would feature
residential and commercial uses in the same building. Overall, Sales 1 and 3 were giving the greatest weight.
Considering all of the sales presented and their relative inferiority/superiority, it is our opinion that the value of
the subject property falls near the middle end of this range, at $4.25 per square foot, as shown below:
NOTE: This analysis is based on a hypothetical condition of a rezone and GMP comprehensive plan
change which will allow for mixed use development.
Descriptive Statistics:
Multiplier:*Price per SF:
Mean:$5.15
Median:$4.82
Standard Deviation:$2.09
Minimum:$3.02
Maximum:$8.88
Range:$5.86
* Based on adjusted price
Site Area (sf)Value per Sq. Ft.Opinion of Value Rounded to
2,072,114 $4.25 $8,806,485 $8,800,000
11.A.5
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63
SEC. VII: RECONCILIATION OF OPINIONS OF VALUE
Cost Approach to Value N/A
Sales Comparison Approach to Value “As Is”: $3,630,000
Hypothetical: $8,800,000
Income Approach to Value N/A
The Sales Comparison Approach references sales of similar properties located in competitive areas in the
researched subject market area. Since properties of identical characteristics are uncommon, any reliance placed
on the Sales Comparison Approach could be lessened due to required adjustments to the comparable sales.
However, the range of value indicated by the sales after adjustments was considered a reliable indicator of value
for the subject property. Overall, the Sales Comparison was considered a reliable Approach. The sales
considered reflected the spectrum of current “unzoned” properties in eastern Collier County and would reflect
alternative considerations for various levels of speculative holding investment.
Based upon the results of the analyses and data contained in the report, including any Extraordinary
Assumptions and Hypothetical Conditions outlined in the Addenda, and our experience in the real estate
appraisal profession, it is our opinion that the “as is”, fee simple, market value of the subject property, as of 12
March 2019, is
THREE MILLION SIX HUNDRED THIRTY THOUSAND DOLLARS - $3,630,000
This value is contingent upon the certification and the assumptions and conditions of this appraisal, if any.
In addition to the “as is” condition, we have also developed an opinion of value under the hypothetical condition
that the property has been rezoned to a PUD zoning and a GMP comprehensive plan amendment has been
approved that allows for mixed-use development. This hypothetical condition is further detailed in the report.
Based upon our analysis of the data contained in the attached appraisal report, it is our opinion that the market
value of the subject property under the hypothetical condition, as of 12 March 2019, is
EIGHT MILLION EIGHT HUNDRED THOUSAND DOLLARS - $8,800,000
CONTRACTS, LISTINGS & SALES HISTORY
According to the public records, there have been no qualified sales of the subject property in the previous five
(5) years. There are no current listings for sale.
11.A.5
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ESTIMATION OF MARKETING TIME
Marketing time is defined by the USPAP Advisory Opinion as follows:
1. The time it takes an interest in real property to sell on the market sub-sequent to the date of an appraisal.
2. Reasonable marketing time is an estimate of the amount of time it might take to sell an interest in real
property at its estimated market value during the period immediately after the effective date of the appraisal;
the anticipated time required to expose the property to a pool of prospective purchasers and to allow
appropriate time for negotiation, the exercise of due diligence, and the consummation of a sale at a price
supportable by concurrent market conditions. Marketing time differs from exposure time, which is always
presumed to precede the effective date of the appraisal. (Advisory Opinion 7 of the Appraisal Standards
Board of The Appraisal Foundation and Statement on Appraisal Standards No. 6, "Reasonable Exposure
Time in Real Property and Personal Property Market Value Opinions" address the determination of
reasonable exposure and marketing time.)
Marketing time is further discussed in the Advisory Opinion referenced above, as follows:
“…Marketing time occurs after the effective date of the market value opinion and the marketing time
opinion is related to, yet apart from, the appraisal process. Therefore, it is appropriate for the section
of the appraisal report that discusses marketing time and its implications to appear toward the end of
the report after the market value conclusion. The request to provide a reasonable marketing time
opinion exceeds the normal information required for the appraisal process and should be treated
separately from that process.
It is also appropriate for the appraiser to discuss the impact of price/value relationships on marketing
time and to contrast different potential prices and their associated marketing times with an appraiser’s
market value opinion for the subject property...
…Clients concerned with marketing real or personal properties who obtain a market value appraisal as
part of their decision-making process should be aware that it may be inappropriate to assume that the
value remains stable during the marketing period. Therefore, it is technically incorrect for the user of an
appraisal to take a current value opinion, carry it forward to the end of a concluded marketing period,
and then discount back to the present…”
Based upon the analysis and conclusions developed in the appraisal, the marketing time for the subject property
is estimated to be 12 to 18 months.
ESTIMATION OF EXPOSURE TIME
Inherent in an opinion of market value is the development of an estimate of exposure time for the subject
property. Exposure time is defined by the Uniform Standards of Professional Appraisal Practice (USPAP),
2018/19 Ed., as follows:
(The) estimated length of time that the property interest being appraised would have been offered on the market
prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.
Based upon the analysis and conclusions developed in the appraisal, the exposure time for the subject property
is estimated to be 12 months.
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SEC. VIII: CERTIFICATION
We certify that, to the best of our knowledge and belief:
The statements of fact contained in this report are true and correct.
The reported analyses, opinions, and conclusions are limited only by the reported assumptions
and limiting conditions and are my personal, impartial, and unbiased professional analyses,
opinions, and conclusions.
We have no present or prospective interest in the property that is the subject of this report and
no personal interest with respect to the parties involved.
We have performed no services, as an appraiser or in any other capacity, regarding the property
that is the subject of this report within the three-year period immediately preceding acceptance
of this assignment.
We have no bias with respect to the property that is the subject of this report or to the parties
involved with this assignment.
Our engagement in this assignment was not contingent upon developing or reporting
predetermined results.
Our compensation for completing this assignment is not contingent upon the development or
reporting of a predetermined value or direction in value that favors the cause of the client, the
amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
Our analyses, opinions, and conclusions were developed, and this report has been prepared,
in conformity with Uniform Standards of Professional Appraisal Practice.
We have made a personal inspection of the property that is the subject of this report. For this
analysis, Matthew H. Caldwell conducted an exterior inspection of the subject property on 12
March 2019.
No one provided significant real property appraisal assistance to the person(s) signing this
certification.
The use of this report is subject to the requirements of the Appraisal Institute relating to review
by its duly authorized representatives.
The reported analyses, opinions, and conclusions were developed, and this report has been
prepared, in conformity with the requirements of the State of Florida relating to review by its
duly authorized representatives. This report also conforms to the requirements of the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA).
We are currently licensed to conduct appraisal activities and have completed the continuing
education requirements set forth with the State of Florida.
11.A.5
Packet Pg. 197 Attachment: Maxwell- Collier County_Randall Curve (8648 : Randall Curve)
66
Although other appraisers may be contacted as a part of our routine market research
investigations, absolute client confidentiality and privacy are maintained at all times with regard
to this assignment without conflict of interest.
Matthew H. Caldwell
State-Certified General Real Estate Appraiser, RZ 2901
As of the date of this report, I have completed the continuing education program of the Appraisal Institute.
Gerald A. Hendry, MAI, CCIM
State-Certified General Real Estate Appraiser, RZ 2245
11.A.5
Packet Pg. 198 Attachment: Maxwell- Collier County_Randall Curve (8648 : Randall Curve)
67
SEC. IX: ADDENDA
QUALIFICATIONS: MATTHEW H. CALDWELL
Education & Experience
Bachelor of Arts in History, Florida Gulf Coast University, Fort Myers, Florida (2004)
Education through the Appraisal Institute, Steve Williamson’s Real Estate Education Specialists, Ed Klopfer
Schools of Real Estate, & McKissock, Inc. (2002-Present)
Gulf Coast Appraisal and Consulting Services, Inc., Cape Coral, Florida (2002-03) - Associate
Gulf Coast Appraisal and Associates, Inc., Cape Coral, Florida (2003) - Associate
Maxwell & Hendry Valuation Services, Inc., Fort Myers, Florida (2004-2013) - Associate
Maxwell, Hendry & Simmons, LLC, Fort Myers, Florida (2013-present) - Associate
Professional Designations & Affiliations
State-Certified General Real Estate Appraiser, RZ 2901 (2006-Present)
Other
Qualified as an expert witness in: Florida District Court: 20th Judicial Circuit
U.S. District Court: Middle District of Florida
Court of Common Pleas: Sandusky County, OH
Member, Florida House of Representatives Elected 2010, 2012, 2014, & 2016
Adjunct with Florida Gulf Coast University: “Redistricting in Florida” – Fall 2011
License
11.A.5
Packet Pg. 199 Attachment: Maxwell- Collier County_Randall Curve (8648 : Randall Curve)
68
QUALIFICATIONS: GERALD A. HENDRY, MAI, CCIM
Education & Experience
Master of Arts in Business Administration, with a major in Real Estate and Urban Analysis,
University of Florida, Gainesville, Florida (1995)
Education through the Appraisal Institute, Florida Real Estate Academy, & CCIM Institute
Barnett Bank of Lee County/First Florida Bank, Fort Myers, Florida, (1991-1993) - Commercial Credit Analyst
W. Michael Maxwell & Associates, Inc., Fort Myers, Florida (1995-2003) - Associate
Maxwell & Hendry Valuation Services, Inc., Fort Myers, Florida (2004-2013) - Owner/Partner
Maxwell, Hendry & Simmons, LLC., Fort Myers, Florida (2013 - Present) - Owner/Partner
Professional Designations & Affiliations
Appraisal Institute – MAI
CCIM Institute - CCIM
State-Certified General Real Estate Appraiser, RZ 2245
State-Licensed Real Estate Broker, BK #0567939
Real Estate Investment Society: Board of Governors 2002-2008
President 2007
Appraisal Institute - West Coast Florida Chapter: Board of Directors 2003-2008
President 2008
Qualified as an expert witness in: Florida District Court: 20th Judicial Circuit
U.S. District Court: Middle District of Florida
License
11.A.5
Packet Pg. 200 Attachment: Maxwell- Collier County_Randall Curve (8648 : Randall Curve)
69
ASSUMPTIONS
An assumption is defined by The Appraisal Institute in The Dictionary of Real Estate Appraisal, Sixth Edition as
follows:
“that which is taken to be true”.
Please review the following assumptions, which we have “taken to be true” about this appraisal.
This appraisal is to be used in whole and not in part. This appraisal report has been prepared at a
specified point in time as indicated by the date of valuation. Therefore, this report can neither be used
prior to, or subsequent to, the effective appraisal date. Market values and conditions change
significantly with the passage of time. This report cannot be viewed subsequent to the appraisal date
and then reliance placed on values, opinions, and analysis made by the appraiser or other consultants
in the report. The forecasts or projections included in this report are used to assist in the valuation
process and are based on current market conditions, anticipated short-term supply and demand factors,
and a continued stable economy. These forecasts are therefore subject to changes in future conditions,
which cannot be accurately predicted by the appraiser and could affect the future income and/or value
forecasts.
No part of this report shall be used in conjunction with any other appraisal. The appraiser(s) herein, by
reason of this report, is not required to give testimony or attendance in court or any governmental
hearing with reference to the property appraised, unless arranged previously therefore. The
consideration for the preparation of this appraisal report is the payment by the client of all charges due
the appraiser in connection therewith. Any responsibility of the appraiser for any part of the report is
conditioned upon full payment.
Neither all, nor any, part of the contents of this report shall be conveyed to the public through
advertising, public relations, news, sales or other media without the written consent and approval of the
author, particularly as to the valuation conclusion, the identity of the appraiser or firm with which he is
connected, or any reference to any professional organization of which the appraiser may be a member.
The property has been appraised as if free and clear, unencumbered by mortgages, liens, delinquent
taxes, assessments, special or unusual deed conditions or restrictions, but subject to zoning
regulations. An investigation, but no record search, has been made.
All comparable data utilized are confirmed by First American Real Estate Solutions (FARES), the Local
Multiple Listing Service (MLS), parties related to the sale, and/or public records. The data used in
compiling this report was secured from sources considered reliable and authentic and, so far as
possible, was verified. However, no responsibility is assumed for its accuracy or correctness. Mapping
provided herein was developed using third-party applications including, but not limited to, Google Maps,
Bing Maps, Microsoft Maps, and Delorme Street Atlas. Maps reflecting aerial images, zoning, future
land use, plats, and other legal documentation were provided by the applicable government entity.
Unless otherwise noted, no survey or plans were requested or provided and information regarding the
subject property has been gathered from the appropriate public records. It is assumed that the legal
descriptions, site sizes and boundaries utilized are correct, that the improvements (if applicable) are
entirely and correctly located on the property described, and that there are no encroachments or
overlapping boundaries. Unless stated otherwise, legal access to the property is assumed. Marketable
title, but not responsibility as to legal matters, is assumed. This appraisal is subject to a current survey
and title search.
The appraiser is not qualified to ascertain the presence of internal damages to the subject structure(s)
(such as adverse settlement, insect damage, etc.), physical hazards (such as radon, urea formaldehyde
foam insulation, asbestos, lead paint, etc.), or environmental conditions (such as wetlands, eagle's
nest's, etc.) and assumes no responsibility for such conditions. Information regarding possible
11.A.5
Packet Pg. 201 Attachment: Maxwell- Collier County_Randall Curve (8648 : Randall Curve)
70
conditions was neither requested, nor gathered, in conjunction with this appraisal, and the appraiser
hereby reserves the right to alter, amend, revise, or rescind any of the value opinions based upon any
subsequent information, research, or investigation. Unless otherwise stated in this report, the existence
of hazardous materials on the subject property was not observed by the appraisers. However, we are
not qualified to detect such conditions. The opinions of value contained herein are predicated on the
assumption that no such conditions exist which would cause a loss in value. It is recommended that
the user retain an expert in these fields if greater detail is required.
It is assumed that there is full compliance with all applicable federal, state, and local environmental
regulations and laws unless noncompliance is stated, defined, and considered in the appraisal report
and it is further assumed that all applicable zoning, land use regulations and restrictions have been
complied with, unless a nonconformity has been stated, defined and considered in the appraisal report.
This appraisal is subject to all growth management ordinances (i.e. concurrency) both local and state.
The appraiser has relied upon representations made by the developer, client or authorities considered
to be knowledgeable in this regard. A determination was not made by the appraiser as to the
development potential for the property, unless otherwise stated.
Unless otherwise noted, we were not provided with a title search, and we have assumed that the subject
property has a unified title, or in absentia, that the right of entry is barred for oil, gas, and mineral rights
holders. We have further assumed that no off-site subsurface exploration or extraction activities are
occurring, or have occurred, which would have an impact on the subsurface elements of the property,
or which would adversely affect the value of the property. No consideration was given within this
appraisal as to the time or expense (if any) which would be required to determine or obtain unified title
or bar the right of entry. Should this assumption regarding unified title later prove to be false, this could
alter the opinions and conclusions contained herein.
EXTRAORDINARY ASSUMPTIONS / HYPOTHETICAL CONDITIONS
Please see the Scope of Work for further details.
11.A.5
Packet Pg. 202 Attachment: Maxwell- Collier County_Randall Curve (8648 : Randall Curve)
HMHOLE MONttES
ENG"―.MNNERS Ш 側 0篠S
950 En∞re Wayo Nales,Fonda 34110・ Phone 239 254 2000・ Fax 239 254 2099
Apri1 9,2019
m.Leo E.Ochs,Jr.,County Managcr
Collier County Manager's Ofrlce
3299 Tamiallrli Trail East,Suite 202
Naples,FL 34112‐5746
Immokalee Road Rurrl Village (GMPA & MPUD)
Dear Mr. Ochs:
The purpose of this letter is to summarize the key points recently discussed related to the above
project. The project, hereinafter referred to as Immokalee Road Rural Village (IRRV) is located
on the east side of Immokalee Road approximately two miles north of the intersection of
Immokalee and Oil Well Roads and is 2,787+ aces in size, is entirely located within the Rural
Fringe Mixed Use Overlay (RFMUD) and includes lands designated as Receiving, Sending, and
Neutral. IRRV is cunently under review by County staff for a Growth Management Plan
Amendment (GMPA). A companion MPUD will be submitted in approximately 60 days. The
items listed below are conceptual in nature at this point, and final agreement and the details
related to these items will be addressed in a Developer's Contribution Agreement @CA), which
will be a companion item to the GMPA and MPUD.
The following substantive issues were discussed at this meeting:
o The developer will provide a 120-foot wide right-oGway for a public roadway corridor
through the Receiving designated portion of the project, generally as depicted on the attached
draft concept plan. The developer would construct 2 lanes within the 120-foot wide right-of-
way. The Developer will receive impact fee credits for the difference in right-of-way width
between a typical 2 lane local road (necessary for the project) and the wider l20-foot-wide
ROW desired by the County to allow for a future 4-lane configuration. In addition, the
Developer will receive impact fee credits for the difference in construotion cost between a
local road and the road requested by the County.o Due to the size and depth of the existing lake excavation on the Neutral Designated laDds, the
public roadway width in this location is limited to 6Gr feet. The Developer will explore
options with the SFWMD for designing the project to accept storm water to enhance both
storm water quantity and trealnent (quality), and the potential for vacating a portion of the
existing canal running along the along the eastem boundary of the Neutral designated lands,
this allowing for a 120 foot ROW width along the eastem boundary ofthe Neutral designated
tract. The County will participate in and assist with the discussion with the SFWMD. Again,
it is assumed that the County will provide impact fee credits for the value of the land within
this conidor exceeding that necessary to provide a typical 2Jane public roadway as well as
accepting run offfrom the roadway.o The Developer will provide, in exchange for impact fee credits, a 100-foot wide strip for
widening of Immokalee Road along the project's Immokalee Road frontage.
H:ヽ 2018ヽ 2018044NWPヽ MPUDICountv A8reemenヽ L0190409に r re!RRV docx
Naples . Fort Myers
11.A.6
Packet Pg. 203 Attachment: Immokalee Road Rural Viillage proposal (8648 : Randall Curve)
Mr. Leo E. Ochs, Jr., County Manager
Re: Immokalee Road Rural Village
April 9,2019
Page 2 of 3
The Developer will widen Immokalee Road (from 2 to 4 lanes) from the point north of Oil
Well Road, where it presently nanows ftom 4 to 2 lanes, to a point north of the proposed
IRRV main entrance ( a distance of approximately 3.5 miles). The County will commence
with acquisition of the necessary right-of-way (approximately 2 miles between Oil Well
Road and the proposed IRRV southem property line). The County will provide impact fee
credits for the cost of permitting and construction for these improvements to Immokalee
Road.
The Developer will design the project to manage and treat storm water for the ultimate 4-
laning of Immokalee road along the projects Immokalee Road frontage. The County will
provide impact fee credits for accepting the storm water in the project.
There may be a need for a Collier County School Public Schools bus barn and a Collier
County Road and Bridge Facility in this area of the County. It is assumed that co-locating
these facilities will tequire 3Gr acres of usable land. The developer is amendable to
providing such a site, zoned and with jurisdictional agency permitting in place. The details
of such an agreement, including the location of access to and from the site, necessary
buffering, and other conditions will be finalized through the DCA. The County would either
purchase the site or provide impact fee credits for the land value (pre-rezoning). It is assumed
that this would be deemed to meet the RFMUD requirements related to providing civic uses.
Other options exist within the proposed IRRV including a 14* acre affordable housing site
(located on the northwest corner of the Neutral Tract) and a 7.6+ passive park site on the
north east comer of the Neutral Tract (with lake access for kayaks, canoes and other non-
motorized vessels), Both parcels would have access to Immokalee Road. These parcels could
be provided to the County for purchase, impact fee credits or a combination thereof. It is
assumed that if these parcels are addressed in the DCA, these will meet t}e MMLJD
requirements for affordable housing and public parks within a Village.
I have included a conceptual MPUD Master Plan depicting the locations of the above items.
Please let me know if you agree that the above items accurately capture the items of our
discussion. It is understood that all such items will be addressed in detail during the entiflement
process and, if agreed to and approved as part of that process, will be included in a DCA.
we anticipate submitting the revised GMPA (to include the 210+ acre Neutal rract) and
submitting the companion IRRV Rural village MPUD within 60 days and anticipate final
hearings within 12 months of submittal.
we look forward to working with you on this exciting project and to address, as pafi of that
process, some of the county's needs and the resultant public benefit, while also achieving the
Client's overall objectives.
H:\20 I EUol 8o44\WnMPUD\Counry Agrecment\Lo I 90409 ,rr rr IRRV.docx
11.A.6
Packet Pg. 204 Attachment: Immokalee Road Rural Viillage proposal (8648 : Randall Curve)
Mr. Leo E. Ochs, Jr., County Manager
Re: Immokalee Road Rural Village
April 9,2019
Page 3 of 3
Please do not hesitate to contact me should you have any comments or wish to discuss this
firther.
Very tuly yours,
HOLEMONTES,INC.
Robert J. Mulhere, FAICP
Vice President, Planning Services and Business Development
RJlvl/sek
cc: JeffGreene, Client
Jefferey A. Klatzkow, County Attomey
Nick Casalanguida, Deputy County Manager
Richard D. Yovanovich, Esquire
Tom Eastrran, Director Real Property, Collier County Public Schools
H:\20 I t\201 to44\WAMPLl D\County Agrc.mcnAlo I 90409 ltt rc IRRV.docx
11.A.6
Packet Pg. 205 Attachment: Immokalee Road Rural Viillage proposal (8648 : Randall Curve)
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11.A.6
Packet Pg. 206 Attachment: Immokalee Road Rural Viillage proposal (8648 : Randall Curve)
:∥1出 ■::IΥ0
Afndav:t Of Publication
State of Florida
Counties of Co∥ier and Lee
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Co∥ier County Real Property Management
Pub Dates
March 7,2019
March 14,2019
2244793 FOR SALE 47+/‐acres
Sworn to and subscribed before me
This March 14,2019
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11.A.7
Packet Pg. 207 Attachment: Affidavit of Publication (8648 : Randall Curve)
FOR SALE
47■/acreS
(Fol:o37690040003)
Contact TonLMott@
Co∥iercountyF1 9ov
Offers should be submitted by
認:R'7躊 膿″￡&244793
11.A.7
Packet Pg. 208 Attachment: Affidavit of Publication (8648 : Randall Curve)
Accept the offer from Metro Commercial Development Group, LLC
in the amount of $3,500,000 for the Randal Curve parcel and
authorize the County Manager to negotiate a Developer
Contribution Agreement with Immokalee Road Rural Village for the
development of a joint County and School District project.
Toni A. MottManager Real Property Division of Facilities Management, PUDApril 23, 2019Agenda Item 11
Collier County | Florida
11.A.8
Packet Pg. 209 Attachment: April 23rd BCC - PP 1 (003) (8648 : Randall Curve)
Location Map
11.A.8
Packet Pg. 210 Attachment: April 23rd BCC - PP 1 (003) (8648 : Randall Curve)
Randall Curve Parcel
11.A.8
Packet Pg. 211 Attachment: April 23rd BCC - PP 1 (003) (8648 : Randall Curve)
Immokalee Road Rural Village Parcel
11.A.8
Packet Pg. 212 Attachment: April 23rd BCC - PP 1 (003) (8648 : Randall Curve)
Crown Management Services, LLC Parcel
11.A.8
Packet Pg. 213 Attachment: April 23rd BCC - PP 1 (003) (8648 : Randall Curve)
Recommendations
u Declare the 47-acre +/-parcel surplus;
u Accepts the offer from Metro Commercial Development Group LLC in theamountof$3,500,000 and dedicate those funds to the County’s portion of afutureRoad&Bridge facility;
u Authorize the County Manager or his designee to prepare a Real Estate SalesAgreementandauthorizetheChairmantoexecutetheAgreementonbehalfoftheBoard;
u Authorize the Chairman to execute the Statutory Deed once prepared andapprovedbytheCountyAttorney’s Office;
u Authorize the net proceeds received from the sale be deposited into theappropriateaccount;
u Authorize the County Manager or his designee to follow appropriate closingprocedures,and to record the deed,once approved by the County Attorney’sOffice,in the public records of Collier County;and
u Direct the County Manager to work with the developer of the Immokalee RoadRuralVillagetocreateaDeveloperContributionAgreementforapotentialpartnershipwiththedeveloper;and work with the School District to locatejointfacilitiesatthissite.
11.A.8
Packet Pg. 214 Attachment: April 23rd BCC - PP 1 (003) (8648 : Randall Curve)