GGELTC Agenda 05/24/2021A G E N D A
Golden Gate Estates Land Trust Committee
Monday, May 24, 2021 - 5:30 p.m.
IFAS Extension
Ag Center next to Fairgrounds
14700 Immokalee Road
Naples, Florida 34120
Committee Members
Chairman: Jeff Curl
Vice-Chairman: Carol Pratt
Member: Annette Kniola
Member: Angela Birks
Member: Jessica Harrelson
County Staff
Michael Dowling: Collier County Real Property Management
___
1. Call to order
2. Approval of current agenda
3. Approval of the Minutes for the November 16, 2020, meeting
4. Approval of Treasurer’s Report – Not available
5. Property Sale Appraisal Approval for Transportation:
Parcel ID 36915200008
All of Tract 81, Unit 7 - 9.12 acres
Property Appraiser’s Value: $316,500
Appraiser’s Value: $292,000 + 20% counteroffer = $350,400
6. Property Sale Appraisal Approval for Transportation:
Parcel ID 37493920003
The North 100’ of Tract 55, Unit 18 - 5 acres
Property Appraiser’s Value: $118,750
Appraiser’s Value: $180,000 + 20% counteroffer = $216,000
7. Property Sale Appraisal for Roadrunner Properties, LLC
Parcel ID 41714000009
The West 105 of the West 180 Feet of Tract 48, 1.59 acres
Property Appraiser’s Value: $23,532
In-house Appraiser’s Value: $43,340
20.A.2
Packet Pg. 507 Attachment: Agenda May 24, 2021 - final (16047 : Golden Gate Estaes Land Trust Committee)
Page Two
8. Resignation of Carol Pratt
9. Other Business
10. Public Comment
11. Next meeting – July 2021
20.A.2
Packet Pg. 508 Attachment: Agenda May 24, 2021 - final (16047 : Golden Gate Estaes Land Trust Committee)
Parcel No
Name / Address
171
Site
Address Site Ciry NApaEs
tn'-'":T giiil'
*Disclaimer
REAL PROPERW
GATE EST UNIT 93 W 105 FT OF TR
.59 ACRES ESTATES
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Packet Pg. 512 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
The Subject Property (aerial)
0
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20.A.4
Packet Pg. 513 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
Collier County Facilities Management/Real Properly
3335 Tamiami Trail E, Suite 101
Naples, Florida 34112
Attention: Mr. Michael Dowling
Re: Ap raisal of GAC / Collier County Property
Folio#
As you requested, I have performed an appraisal of the above-referenced property, which is
legally described within the attached report. This letter is an integral part of, and inseparable
from, this report. The purpose of this appraisal is to arrive at an opinion of market value of the
subject properties in their "as is" condition.
The interest being appraised is the undivided fee simple interest in the land and no existing
improvements 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 potential acquisition of
the properties. The intended users of this appraisal report are GAC / Collier County Facilities
Management Real Property, and Collier County Board of County Commissioners.
The subject property was not inspected due to previous knowledge of the subject property.
Based upon my analysis of the data contained within the attached appraisal report, it is my
opinion that the "as-is" market values of the fee simple interest in the subject property as
of 20 May, 2021 "as is".
FORTY-ONE THOUSAND THREE HUNDRED FORTY DOLLARS - $41,340
RmrLLryd,RTI:AC
Sr.Rrio'Aprrir
FulhbNlang@d RslProp.ltt'
3335 TEiEi Tril E $!. l0l
Nrylc, FL 34112 ft I9-lJl-1621
lGsEuold4}co[irwtyn-ts.
The subject property Street View
20.A.4
Packet Pg. 514 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
Vacant Land Appraisal Report
This appraisal report is subject to the following scope of work, intended use, intended user,
definition of market value, statement of assumptions and limiting conditions, and certifications.
Modifications, additions, or deletions to the intended use, intended user, definition of market
value, or assumptions and limiting conditions are not permitted. The appraiser may expand the
scope ofwork to include any additional research or analysis necessary based on the complexity
of this appraisal assignment. Modifications or deletions to the certifications are also not
permitted. However, additional certifications that do not constitute material alterations to this
appraisal report, such as those required by law or those related to the appraiser's continuing
education or membership in an appraisal organization, are permitted.
scoPE oF woRK: The scope of work for this appraisal is defined by the complexity of this
appraisal assignment and the reporting requirements of this appraisal report form, including
the following definition of market value, statement of assumptions and limiting conditions, and
certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of
the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect
each of the comparable sales from at least the street, (4) research, verify, and analyze data
20.A.4
Packet Pg. 515 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
from reliable public and/or private sources, and (5) report his or her analysis, opinions, and
conclusions in this appraisal report.
INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the
property that is the subject of this appraisal for a mortgage finance transaction.
INTENDED USER: The intended user of this appraisal report is the lender/client.
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a
competitive and open market under all condition's requisite to a fair sale, the buyer and seller,
each acting prudently, knowledgeably and assuming the price is not affected by undue
stimulus. lmplicit 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: (1) buyer and seller are typically
motivated; (2) both parties are well informed or well advised, and each acting in what he or she
considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open
market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial
arrangements comparable thereto; and (5) 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.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report
is subject to the following assumptions and limiting conditions:
1. The appraiser will not be responsible for matters of a leBal nature that affect either the property
being appraised or the title to it, except for information that he or she became aware of during
the research involved in performing this appraisal. The appraiser assumes that the title is good
and marketable and will not render any opinions about the title.
2. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs,
deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the
inspection ofthe subject property or that he or she became aware of during the research
involved in performing this appraisal. Unless otherwise stated in this appraisal report, the
appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse
conditions of the property (such as, but not limited to, needed repairs, deterioration, the
presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that
would make the property less valuable, and has assumed that there are no such conditions and
makes no guarantees or warranties, express or implied. The appraiser will not be responsible for
any such conditions that do exist or for any engineering or testing that might be required to
discover whether such conditions exist. Because the appraiser is not an expert in the field of
environmental hazards, this appraisal report must not be considered as an environmental
assessment of the property.
20.A.4
Packet Pg. 516 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
ln January 2021, the median list price of homes in Golden Gate Estates was 5278.5K,
trending up 3.3% yearover-year. The median listing price p€r square foot was S179. The
median sale price was S259.5K.
Median List Price vs. Mdaan Sold Price
s3s0K
s300K
s2s0K
s200K
Mar 2018 Sep 20.18 Mdr 2019 Sep 2019 Mdr 2020 Sep 2020
Sale-to-List Price Ratio: 97.7%
Homes in Golden Gate Estates sold for 2.395 asking price on average in January 2021
Buyer Balanced Seller
Golden Gate Estates is a sellerb ma in January 2021, which means that
there are more people looking to buy than there are homes available.O
20.A.4
Packet Pg. 517 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
(ffi) ,,."n0,
Homes rn Golden Gate Estates are on the market for an av€rage of 125 dayt and are typicallypurchas€d ator above
asking price, Prop€rty tares hover around Sl,26l peryear, and homeowners association Fe€s are approximately
3878. On average, homes h€re.re 5146 per squaref@tand typicalty tist foraround S345,OOO.
PricinsTrcndr AverrgcSlleTime HomcrSold
lFar | 2years 3years
tI
I
T[^dr de ir d.nvi t n MLS d{.. rnlomnim i! d..@d (ll.blc bur 60r iur.nr.€-
Flood Map Number L2O2LCO445H etl SlLGl2Ol2 Zone AH
o+LrzO J.n ''lO Jd'AO A.a.D &r'2O Od.2O
20.A.4
Packet Pg. 518 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
8offi C@Trr MtPRcfcuG
Propdty AddEis
city i! A p/e -< conv eoaa.bta s@@ t iL zip code 3?4, z
D.bofsale
-lruTem
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ActualRsl EsbteTdesS €X€tTPl Or) Loilchrgesbbepaidbysetler orh€rsatesconc*ions
l-.o&r/cli6! Cotl,e r CeUN+y' CrO\l t+ AddEss
BuiltUp L_..]Over75"/" jpsr.r"t5v. l_]UnaoZsx lEmproym€nrstEbilirycrouhRate Eru,,ro", !*r. fls,."ay tr;;; l;;;"";*"e,oEmproynenrPrcp€nyvatB l_f*.*'ng l__-.]suur. l___.]Dect,nins lConvenimetoShoppingDcmd/supply f__]Strorogc l_;freatoce l___.]Oversupply lConvmicrctoSchmtsMarkcrmgTine f--.lunder3Mos L -F-ru* f_-lorer6Mos lAdqucyrorulrrcTruporotion
PMt 57 oltrn;ty :Lxzqrnity _-%Apb. _.zcondo tL%comial lnmmmtrrlttic
Iad U*: % Indurial -!D yoVwt % _ lAdcq@y of Uritiri6
changeinpresenrLand u* f-l* r,*",, Ll,-*",, [ru*i,gRr"".,', 1rffi.".0",*','o
single Fmily Prie R&ge $ 2oo b $ , ,O prcdominur vatue $
N ar, yn to _ 3 O yn HomiMt Age lS _-._yB
Conmn6 ircludiDg lhose fac(oB, favoBble or mfavomble, afffttin8 ffikebbilily (e g ptblic park, sh@ls, view, nois)
Comb (favonblc or unfivonblc ircluding my appsHr rdvcB ffiE, omacluncnB orotho advcN cooditioE) /A .re Nd
OFF SITE IMPRO!'EMENTS
Addrcss: fruo,," !rnrr,"
TheMdeNignedhsrccitedthrce rccenlsalesofpmpfficsmostsimilumdp.oximaletothesubjectmdhatobeconsideredthe*htheMketaalysis Thedesqiplionincludesadolle
adj6hent, rcflecting makel re&lion to those ilem of signilicet veiatioo beNen fie subject ed coDpmble propedes If a sigtrifiut ifem in lhe comparibLe pro[rcny is
supdior to, or mrc favonblc thrn subjEt FopeEy, a mins O adjshat is Mdc, th6 rcdwing th. indicaEd vale of thc $bJ6; if a signiricant itm h rhe compsrablc is
Add6s 4o?.4ve.98 | '3+neve
,E | 4o*4 qr'eiC I q676 4
turcredfu
Other (Describe)
Salos or Financing
Indicated Value
Comcnts on Meket Data
Fom FW-68 l2lE2
20.A.4
Packet Pg. 519 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
COMPARABLES
g.i'v
Comp 3
20.A.4
Packet Pg. 520 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
Comparable location Map
HIX,|;9
20.A.4
Packet Pg. 521 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
Statement of Limiting Conditions
File #:
DEFINITION OF I}IARKET VALUE: The most probable price which 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, knowledgeably and assuming the price is not
affected by udo stimulus. Implicit in this defmition is the consumation of a sale as of a specified date and the passing of title
fromsellertobuyerunderconditionswhereby: (l)buyerandselleraretypicallymotivated; (2)bothpartiesarewellinfomedor
well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open
market;(4)pal.rnentismadeintermsofcashinU.S dollarsorintemsoffinancial mangementscomprablethereto; md(5)the
price represents the noml consideration for the property sold maffected by special or creative financing or sales concessions.
granted by anyone associated with the sale.
* Adjustments to the comparables must be made for special or creative financing or sales conccssions No adjustments are
necessary forthose costs which are normallypaid by sellers as a result oftradition or law in the mtrket area; these costs are
readily identifiable since the seller pays these costs in virtually all sales trmsactions. Special or creative finmcing adjustrnents
can be made to the comparable property by comprisons to finmcing tem offered by a third party institutional lender that is
not already involved in the property or transaction. Any adjustrnent should not be calculated on a mechanical dollar cost of
the financing or concession but the dollu mount of any adjustment should approxirnate the milket's reaction to the financing
or concessions based on the appraiser's judgement.
STATEMENT OF LIMITING CONDITIONS AND APPRAISERIS CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subjcct to
the following conditions:
l. The appmiser will not be responsible for matters of legal nature that affect either the property being appraised or the title ro it.
The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The
property is appraised on the basis of it being under responsible omership
2. Theappraiserhasprovidedasketchintheappraisal reporttoshowapproximatedimensionsoftheimprovementsandthe
sketch is inoluded only to assist the reader ofthe report in visualizing the property and understanding the appraiser's detemination
of its size.
3. TheappraiserhasexaminedtheavailablefloodmapsthatreprovidedbytheFederalEmergencyManagementAgency(orother
data sources) and has noted in the appmisal report whether the subject site is located in an identified Special Flood Hazard Area.
Because the appraiser is not a suweyor, he or she makes no guarantee, express or implied, regarding the determination.
4. Theappraiserwillnotgivetestimonyorapperincourtbecauseheorshemadeanappmisal ofthepropertyinquestion,unless
specific mmgements to do so have been made beforehand.
5. Theappraiserhasestimatedthevalueofthelandinthecostapproachatitshighestandbestuseandtheimprovementsattheir
conhibutory value. These seprate valuations ofthe lmd and improvements must not be used in conjunction with any other
appraisal and ae invalid ifthey re so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of
hazardous wastes, toxic substances, ctc.) observed dwing the inspection of the subject property or that he or she became aware
ofduring the normal research involvcd in performing the appraisal. Unlcss otheuise stated in the appraisal report, the appraiser
has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the
presense ofhazardous waste, toxic substances, etc.) that would make the property more or less valuable, and has assumed that
there are no such conditions md makes no guarantees or warranties, express or implied, regarding the condition ofthe property.
The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be
requiredtodiscoverwhethersuchconditionsexist, Becausetheappraiserisnotanexpertinthefieldofenvironmentalhazards,
the appraisal report must not be considered as an environmental assessment of the property.
7. The appraiser oblained the infomation, estimates, and opirions that were expressed in the appraisal report from sources that he
or she considers to be reliable and believes them to be true and conect The appraiser does not assme responsibility for the
accuracy of such items that were fumished by other parties.
8 The appraiser will not disclose the contents of the appraisal report except as provided for in the Unifom standards of
Professional Appraisal Practice.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory
completion, repairs, or alterations on the assumption that completion of the improvements will be perfomed in a workmanlike
manner.
10. Theappraisermustprovidehisorherpriorwrittenconsentbeforethelender/clientspecifiedintheappraisalreportcan
disu-ibute the appraisal report (including conclusions about the property value, the appraiser's identity and professional
designations, and references to any professional appraisal organizations or the fim with which the appraiser is associated) to
anyone other than the bonower; the mortgagee or its successors and assigns; the mortgage insurcr; consulgants; professional
appraisal organizations; any state or fcderally approved financial institution; or any department agency, or instrumentality of the
United States or any state or the District ofColumbia; except that the lender/client may disfibute the property description section
of the rePort only to data collection or reporting service(s) without having to obtain the appraiser's prior lritten conrent. The
appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public
through advertising, public relations, news, sales, or other media.
Page I of2 lFreddic Me Fom439 6-93 FMie Mae Fom 10048 6-93
20.A.4
Packet Pg. 522 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
APPRAISER CERTIFICATION
File #:
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
I I have reseuched the subject market area md have selected a minimum of three recent sales of properties most similr md
proximate to the subject property for consideration in the sales comparison analysis and have mde a dollar adjustment when
appropriate to reflect the market reaction to those items of significant variation If a significant item in a compuable property
is superior to, or more favorabte than, the subject property, I have made a negative adjustment to reduce the adjusted sales price
ofthe comparable and, ifa significant item in a comparable property is inferior to, or less favorable than, the subject property,
I have made a positive adjustment to increase the adjusted sales price of the comparable.
2 Ihavetakenintoconsiderationthefactorsthathaveanimpactonvalueinmydevelopmcntoftheestimateofmarketvaluein
the appraisal rePort I have not knowingly witlreld my significmt infomation from the appraisal report md I believe, to the
best of my knowledge, that all statements and infomation in the appraisal report ile true md corect.
3. Istatedintheappraisalreportonlymypersonal,unbiased,andprofessionalanalysis,opinions,mdconclusions,whichare
subject only to the contingent and limiting conditions specified in this form.
4. Ihavenopresentorprospcctiveinterestinthepropertythatisthesubjectofthisreport,andlhavenopresentor
prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or
completely, my analysis and,/or the estimate ofmarket valuc in the appraisal report on the race, color, religion, sex, hmdicap,
familial status, or national origin of either the prospective omers or occupants of the subject property or of the present omem
or occupants ofthe properties in the vicinity ofthe subject property.
5 I have no Present or contemplated future interest in the subject property, and neither my cunent or future employment nor my
compensation for perfoming this appraisal is contingent on the appraised value of the property
6. I wm not required to report a predetemined value or direction in value that favors the cause ofthc client or any related
party, the amount ofthe value estimate, the attainment ofa specific result, or the occurence ofa subsequent event in order to
receive my compensation and,/or employment for perfoming the appraisal I did not base the appraisal report on a requested
minimum valuation, a specific valuation, or the need to approve a specific mortgage loan
7. I perfomed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisal Standards Board ofThe Appraisal Foundation and that were in place as ofthe effective date ofthis
appraisal, with the exccption of the departure provision of those Stmdards, which does not apply. I acknowledge that an estimte
of a reasonable time for exposure in the open mrket is a condition in the definition of market value and the estimate I developed
is consistent with the marketing time noted in the neighborhood section ofthis report, unless I have otheruise stated in the
reconciliation section
8. I have personally inspected the interior and exterior ueas ofthe subject property and the exterior of all properties listed as
compambles in the appraisal report. I further certiry that I have noted any apparenl or knom adverse conditions in the subject
improvements, on the subject site, or on any site within the immediate vicinity ofthe subject property ofwhich I am aware and
have made adjustments for these adversc conditions in my analysis ofthe property value to the extent that I had market evidence
tosupportthcm Ihavealsocommentedaboutthecffectofthcadverseconditionsonthemarketabilityofthesubjectproperty.
9 I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I
relied on significantprofessional assistance from any individual or individual(s) in the performance ofthe appraisal orthe
preparation ofthe appraisal report, I have named such individual(s) and disclosed the specific task performed by them in the
reconciliationsectionofthisappraisalreport. lcertifothatanyindividual sonamedisqualifiedtoperformthetasks. Ihave
not authorized anyone to make change to any item in the report; therefore, ifan unauthorized change is made to the appraisal
report, I will take no responsibility for it
SUPERVISORY APPRAISER'S CERTIFICATION: If a superuisory appraiser signed the appraisal report, he or she
certifies and agrees that: I directly superuise the appraiser who prepared the appraisal report, have reviewed the appraisal report,
agree with the statements and conclusions ofthe appraiser, agree to be bound by the appraiser's certifications numbered 4 through
7 above, md am taking full responsibility for the appraisal and the appraisal report
ADDRESS OF PROPERTY APPRAISED:
APPRAISER:
Signature:N;", -Z-ri;A&-
DateSigned: c-zO -al
State Certification #:
SUPERVISORY APPRAISER (only if required):
or State Liccnse #. R b aA87
Expiration Date ofCertification or License:
Date Signed:
State Certification #:
or state License #:
Mac Fom
20.A.4
Packet Pg. 523 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
Ron DeSantis, Governor
STATE OF FLORIDA
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
FLORIDA REAL ESTATE APPRAISAL BD
THE CERTIFIED RESIDENTIAL APPRAISER HEREIN IS CERTIFIED UNDER THE
PROVISIONS OF CHAPTER 475, FLORIDA STATUTES
LICENSE NUMBER: RD3287
EXPIRATION DATE: NOVEMBER 30,2022
Always verify licenses online at MyFloridaLicense.com
Do not alter this document in any form.
This is your license. lt is unlawfu! for anyone other than the licensee to use this document.
20.A.4
Packet Pg. 524 Attachment: Appraisal Roadrunner Properties (16047 : Golden Gate Estaes Land Trust Committee)
APPRAISAL REPORT
FOR
COLLIER COUNTY GMD/
TRANSPORTATION ROW
SUBJECT PROPERTY:
PARCEL 150 POND
9.12 GROSS ACRES
LOCATED ALONG 19TH STREET NW
NAPLES, FL 34120
AT THE REQUEST OF:
HARRY HENDERSON, SRA
REVIEW APPRAISER
COLLIER COUNTY GMD/
TRANSPORTATION ROW
2885 S. HORSESHOE DRIVE
NAPLES, FL 34104
ASSIGNMENT NO.:
5556A-TS
APPRAISAL EFFECTIVE DATE:
NOVEMBER 12, 2020
DATE OF REPORT:
DECEMBER 28, 2020
20.A.5
Packet Pg. 525 Attachment: Appraisal for Transportation 9.14 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
5556A Report Table of Contents
Carroll & Carroll
Table of Contents
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS ......................................................... 1
CERTIFICATION ..................................................................................................................................... 3
SCOPE OF WORK ................................................................................................................................... 5
ESTATE APPRAISED .............................................................................................................................. 6
DEFINITION OF MARKET VALUE ..................................................................................................... 7
ASSUMED EXPOSURE TIME ................................................................................................................ 7
AREA INFORMATION .......................................................................................................................... 8
MARKET AREA ..................................................................................................................................... 19
PROPERTY INFORMATION ............................................................................................................... 30
SITE DESCRIPTION .......................................................................................................................... 32
ENVIRONMENTAL CONTAMINATION .................................................................................... 37
NATURAL RESOURCE CONCERNS ............................................................................................ 38
ZONING .............................................................................................................................................. 41
ASSESSMENT AND TAXES ............................................................................................................ 43
FLOOD ZONE DATA ....................................................................................................................... 44
TRANSACTIONAL HISTORY ........................................................................................................ 46
CURRENT STATUS ........................................................................................................................... 46
HIGHEST AND BEST USE ................................................................................................................... 47
CONSIDERATION OF APPROACHES ............................................................................................. 47
SALES COMPARISON APPROACH ................................................................................................. 48
LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES ............................. 49
VACANT LAND COMPARABLES ................................................................................................ 50
LAND SALES ADJUSTMENT GRID .............................................................................................. 55
ESTIMATE OF VALUE ......................................................................................................................... 59
ADDENDA ............................................................................................................................................. 60
20.A.5
Packet Pg. 526 Attachment: Appraisal for Transportation 9.14 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
5556A Report Summary of Important Data & Conclusions
Carroll & Carroll 1
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS
This information is summarized only for convenience. The value given is the final, rounded
conclusion of the appraisal. To use this summary without first reading the appraisal report
could be misleading.
PROPERTY INFORMATION
Property Identification
Parcel 150 Pond
9.12 Acres located along 19th Street NW
Naples, FL 34120
Property Description
A 9.12-acre canal front parcel located along the east side of
19th Street NW, north of Golden Gate Boulevard in Naples,
Florida.
Property Type Vacant Land
Owner of Record Collier County
Property ID # 36915200008
CLIENT INFO & VALUE CONCLUSIONS
Client Collier County GMD/Transportation ROW
Intended Use To assist in asset management.
Intended Users Collier County GMD/Transportation ROW
Appraisal Effective Date November 12, 2020
Date of Report December 28. 2020
Date of Inspection November 12, 2020
Purpose of Appraisal Estimate Market Value “As Is”
Estate Appraised Fee Simple
Interest Appraised 100%
Estimated Market Value $292,000
GENERAL INFO
Appraiser
Timothy W. Sunyog, MAI
State-Certified General Appraiser RZ 3288
Scope of Work All applicable approaches to value were developed.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
None
HYPOTHETICAL CONDITIONS
None
MARKET CONDITIONS STATEMENT
COVID-19 is affecting the real estate market in ways that are sensed, but still mostly
unmeasurable. Real estate remains the preferred store of wealth in times of risk and
instability.
20.A.5
Packet Pg. 527 Attachment: Appraisal for Transportation 9.14 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
5556A Report Summary of Important Data & Conclusions
Carroll & Carroll 2
For almost everyone, the greatest risk associated with COVID-19 is the risk of broad
economic dislocation. This manifests as work days lost, forced business closures, supply
line shortages, and economic decline due to decreased activity. The longer extraordinary
economic conditions like those continue, the slower will be the return to normalcy.
The local residential real estate market felt the negative effects during the first few months
of the pandemic but has since recovered with the number of closed sales, pending sales,
and median price higher in June, July, August, September, and October 2020 compared to
June-October 2019. Pent up demand from the pandemic and record low interest rates are
fueling this market.
COVID-19 has had different impacts on the commercial market. The industrial market is in
a period of stability. The majority of the business owners and tenants in the Southwest
Florida industrial market are construction or service type businesses that are not being
negatively impacted by the pandemic. The office market is also in a period of stability. We
are not seeing the large downsizing as in much of the country and with more employees
able to work remotely and the corporate tax benefits in Florida, the office market should
remain stable. Most retail and hospitality properties are feeling the negative impacts.
Commercial tenant revenues are declining which could affect lease payments. If negative
conditions persist, commercial tenants could be lost, and then be slow to replace. Retail
tenants, especially restaurants without drive-thru facilities, are struggling. The motel/hotel
market is also being negatively impacted due to travel restrictions. We expect marketing
periods to lengthen, and the time required to close a transaction to increase. There is
resiliency in the commercial market due to high occupancies and strong net operating
income.
If workers experience permanent job loss and replacement jobs are not available, or if
personal incomes are reduced for long periods, then the residential rental market might be
affected. We don’t expect panic sales as there is no safe alternative and relaxed fiscal policy
is intended to reduce pressure on the hardest hit. The local retired residential community is
resilient, and our community infection rate had been declining, but is beginning to increase
heading into the winter months.
It is noted the current financial market is in a state of uncertainty, and it is not currently
known how this instability has affected the real estate market segment, or how it could
potentially affect real estate. Certain immediate events in the economy may occur that
could cause the property to perform differently than the estimates and conclusions
contained herein. It is expressed the estimates and conclusions contained herein are subject
to risk and uncertainty. We are not responsible for any negative affects the financial market
may have on the property that cannot be foreseen at this time.
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CERTIFICATION
I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF:
I personally inspected the subject property and made an inspection of all comparable
sales or listings identified in the report.
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 our personal, impartial and unbiased
professional analyses, opinions and conclusions.
I 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.
In the three years immediately prior to acceptance of this assignment I have not
performed any services regarding the subject property as appraisers, or in any other
capacity.
I have no bias with respect to the property that is the subject of this report or the parties
involved with this assignment.
My engagement in this assignment was not contingent upon developing or reporting
predetermined results.
My 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.
My analyses, opinions and conclusions were developed, and this report was prepared,
in conformity with the Uniform Standards of Profess ional Appraisal Practice. I am also
subject to the Code of Ethics and Standards of Professional Practice of the Appraisal
Institute, which includes provisions for peer review.
The use of this report is subject to the requirements of the State of Flor ida relating to
review by the Florida Real Estate Appraisal Board and to the requirements of the
Appraisal Institute relating to review by its duly authorized representatives.
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No one other than the undersigned prepared the analyses, opinions and conclusions
concerning real estate that are set forth in this report.
As of the date of this report, I have completed the requirements of the continuing
education program of the State of Florida, and for Designated Members of the
Appraisal Institute.
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
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SCOPE OF WORK
All applicable approaches to value were developed and the value conclusion reflects all
known information about the subject property, market conditions, and available data.
The scope of work was:
• Inspected and photographed the subject property
• Reviewed aerial photographs, land use plans, the Land Development Code, and other
documentation
• Reviewed how the property relates to its neighborhood and to the broader market area
in development of an opinion of highest and best use
• Researched vacant land comparable sales, listings, and pending sales
• Developed the sales comparison approach
• Estimated the market value of the fee simple estate
• Prepared an appraisal report summarizing the appraisal assignment, the property
appraised, the application of the appraisal methodology, and the logical support for the
value conclusion
Sources of market data included local and regional MLS systems, CoStar, LoopNet, public
records, and interviews with real estate brokers.
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ESTATE APPRAISED
The estate appraised is the Fee Simple Absolute. For appraisal purposes Fee Simple
Absolute is synonymous with Fee Simple.
The Dictionary of Real Estate Appraisal, Sixth Edition, published 2015 by the Appraisal
Institute, defines Fee Simple Estate as:
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.
We consider easements, but only to the extent that they are known to us. Appraisal of the
fee simple means that an improved property is vacant and available to be put to its highest
and best use.
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DEFINITION OF MARKET VALUE
In United States tax law, the definition of Fair Market Value is found in the United States
Supreme Court decision in the Cartwright case:
The fair market value is the price at which the property would change hands between a
willing buyer and a willing seller, neither being under any compulsion to buy or to sell
and both having reasonable knowledge of relevant facts.
United States v. Cartwright, 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S.
Tax Case. (CCH) ¶ 12,926 (1973) (quoting from U.S. Treasury regulations relating to Federal
estate taxes, at 26 C.F.R. sec. 20.2031-1(b)).
ASSUMED EXPOSURE TIME
The reasonable exposure time referenced in (c) above is assumed to have already occurred
as of the appraisal effective date. The assumed reasonable exposure time was between 3 and
4 months.
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AREA INFORMATION
COLLIER COUNTY ANALYSIS
An analysis of geography, transportation, population, employment, income and education
for Collier County is performed using data provided by Site to Do Business, Florida Office
of Economic & Demographic, United States Department of Labor and Fishkind &
Associates, all recognized source(s).
GEOGRAPHY
Collier County is the most southerly county on Florida's west coast offering mainland
coastal development. Collier County is west of Ft. Lauderdale and south of Tampa. With
2,025 square miles of land area, it is the largest county in Florida. 821,620 acres, or about
63% of the land area, is in public ownership, is set aside for parks and environmental
preservation, or is scheduled for public land acquisition.
The region enjoys a climate that is classified as subtropical. Summers are relatively mild
and winters are usually frost free. A hard freeze is a rarity. The climate, especially in
winter, is one that attracts and is enjoyable to most people.
The geography of the area runs generally northwest and southeast as indicated by the trend
of the coastline. Beaches extend from the northern county line south to Cape Romano and
then, as the coastline trends further to the southeast, beaches give over to mangrove islands
and swamps. Moving northeastward from the beaches, elevations increase very slowly.
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Most of the county is less than 15 feet above mean sea level. Although changes in elevation
are gradual, they are well defined by variations in vegetation. Much of the county is, or was
once, wetland. The once plentiful marine resources are largely depleted, but still provide
good sport fishing.
Population centers include the coastal communities of Naples, Marco Island and
Everglades/Chokoloskee. Immokalee, the single large interior community, is located in
north Collier County and is the agricultural center of the region.
POPULATION
“The social forces studied by appraisers primarily relate to population characteristics. The
demographic composition of the population reveals the potential demand for real estate,
which makes the proper analysis and interpretation of demographic trends important in an
appraiser’s analysis.” The total population, it's composition by age and gender, and the rate
of household formation and dissolution strongly influence real property values. (The
Appraisal of Real Estate 14th Edition)
Collier County’s population has continued to increase year after year. The population has
grown at an annual rate of 1.8% from 2010 to 2018. The population forecasts through 2023
call for a continued steady growth cycle at an estimated annual rate of 1.856% or 7,031
people per year.
Collier County for years has been one of the nations’ fastest growing counties, historically
outperforming the state. Population increases began in 2010, trending once again towards
outperforming the state.
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
2000 2005 2010 2018 2023 2030 2035 2040
Collier County Population
Florida Office of Economic & Demographic Research and Esri forecasts 2018
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Collier County is a popular retirement destination. As of 2018, 55.50% of the County’s
residents are over the age of 45. The 2023 forecasts depict an aging community with 56.5%
of the population 45 years of age or older.
0%
5%
10%
15%
20%
25%
30%
2000 2005 2010 2018 2023 2030 2035 2040Population Change (%) Population Change (State vs County)
Collier
County
YearYear
Florida Office of Economic & Demographic Research and Esri forecasts 2018
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
0-4 5-9 10-14 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+
2010
2018
2023Percentage
Age
Population by Age
U.S.Census Bureau, Census 2010 Summary File 1. Ersi forecasts for 2018 and 2023
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EMPLOYMENT
Collier County is a largely service based economy with 34.2% of the employees in the
leisure, hospitality, education and health service industries and 20.8% in professional,
business, financial and other services. Trade, transportation, & utilities along with
government jobs account for 28.2% of the County’s employees. Industries such as natural
resources/mining, construction, and manufacturing make up only 15.9% of the market.
Leisure &
Hopitality
Trade,
Transportation &
Utilties
Education & Health
Services
Professional &
Business Services
Construction
Government
Financial Activties
Other Services
Mining &
Manufacturing
2017 EMPLOYED BY INDUSTRY -COLLIER COUNTY
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Top 11 Largest Employers Collier County -2012
Rank Company Employees
1 Collier County Public Schools 4739
2 NCH Healthcare System 4000
3 Collier County Government 1591
4 Collier County Sheriff's Office 1371
5 Ritz Carlton, Naples 1100
6 Gargiula, Inc. 1100
7 Arthrex, Inc 1056
8 Hometown Inspection Services 900
9 Publix 800
10 Naples Grande Beach Resort 760
11 Marriott 730
Source: www.eflorida.com as reported in 2014 Clerk of Courts Annual Report
The unemployment rate in Collier County exceeded the state average by a slight margin in
2018. The unemployment rate then declined through 2018 as the economy improved and,
until recently, Collier County’s unemployment rates decreased more rapidly than the state.
0.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%
2010
2011
2012
2013
2014
2015
2016
2018
Unemployment Rate (County vs State)
Collier County State of Florida
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BUSINESS CLIMATE
Businesses, both existing and new, can experience a high level of collaboration within the
community — private business, non-profits and government — as well as a common
purpose: maintaining the enviable lifestyle residents here enjoy. Naples and Collier
County offer deep resources for everything from start-up business loans and workforce
training to accelerators that can jump-start a business, allow it to expand or move here from
a foreign country or out of state. Collier County is the 10th fastest growing metropolitan
area in the country, according to the U.S. Census Bureau and was the top fastest growing
area in the country for 2016 in a ranking by the U.S. Conference of Mayors. Wallet Hub also
ranked Naples/Collier County as the No. 3 Best Place to Start a Business in Florida and
Forbes magazine/Moody's Analytics Forbes ranked Naples and Collier County No. 4 in the
Top 10 Best Cities for future job growth.
INCOME
Collier County’s per capita income and median household income levels are higher than
state statistics. The most substantial difference between Collier County and the state is the
large percentage difference in household incomes above $100,000 where Collier County
exceeds the state by over 8%. Collier County's percentage household incomes ranging from
$25,000 to $99,999 mirror that of the state but is significantly lower in the percentage of
household incomes under $25,000. Income levels vary greatly within different areas of
Collier County, and so, will be discussed in greater detail in the Market Area description.
TRANSPORTATION
The transportation system reflects local geography, population densities and the primary
motivators of tourism, service industry employment, the construction industry, agriculture,
and leisure activities.
ROADS:
The earliest roads were coastal, extending from north to south in the early twentieth century
with the first settlers. Principal among these is US-41, commonly referred to as the Tamiami
Trail because it was built to connect Tampa and Miami. Where it passes through the coastal
community US-41 is a four or six lane divided highway with landscaped medians, curb and
gutter, street lights and often with concrete sidewalks. The Trail is the principal coastal
arterial and one that defines several important boundaries. Often there is a noticeable land
value difference east and west of US-41 because the affluent coastal population prefers to
shop and trade close to home. As the highway turns southeast from downtown Naples
toward Miami the Trail defines the boundary of the coastal management zone which affects
development densities and storm evacuation requirements. The eastern segment of US-41
is a designated national scenic highway popular with tourists, especially during the winter
season as they seek adventure in the Everglades.
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A system of asphalt surfaced arterials, major collectors, minor collectors, and neighborhood
streets extend into the urban area east and west from US-41. North-south arterials and
major collectors are established about one mile apart. From west to east, these include
Goodlette-Frank Road, Airport-Pulling Road, Livingston Road, Santa Barbara Boulevard
and Collier Boulevard. The east-west grid is spaced about two miles apart; from north to
south being Immokalee Road (CR-864), Vanderbilt Beach Road (CR-862), Pine Ridge Road
(CR-896), Golden Gate Parkway (CR-886), Radio Road (CR-856), Davis Boulevard (SR-84),
and Rattlesnake Hammock Road (CR-864). Within the urban area all of these are at least 4
lane divided highways.
East of Collier Boulevard the road system reflects the economies of scale of Golden Gate
Estates subdivision (the Estates) where 102 square miles of rural subdivision is supported
by a grid system of paved and unpaved 2 lane streets, with 2 and 4 lane asphalt surfaced
major collectors. Golden Gate Boulevard, a 4 lane divided road for five of its eleven miles
east of CR-951, is the principal east-west collector. Everglades Boulevard (2 lane and
asphalt surfaced) is the north-south major collector extending south from Immokalee Road
14 miles to the grade separation at I-75 where it continues into the Picayune Strand State
Forest. Most of the neighborhood streets in Golden Gate Estates are asphalt. Collier
County is planning to extend east-west collectors through the Estates along the alignment of
Vanderbilt Beach Road and somewhere south of Golden Gate Boulevard. A north-south
connection is also planned from the eastern terminus of White Boulevard (Pine Ridge Road)
north to Golden Gate Boulevard.
Interstate highway 75 (I-75) was extended from north to south through Collier County in
the mid-1980s along a flood-proof route about five miles inland. Directly east of the City of
Naples I-75 joins the original alignment of State Road 84 (Alligator Alley) connecting with
Florida's east coast at Ft. Lauderdale. The coastal community I-75 interchanges are spaced
three to four miles apart at Immokalee Road (CR-864), Pine Ridge Road (CR-896), Golden
Gate Parkway (CR-886), and at Collier Boulevard/Davis Boulevard (CR-951/SR-84). Twenty
one miles east of the coastal community is an interchange at State Road 29; the last
interchange in Collier County. Collier County and the FDOT continue to study the
feasibility of an interchange at Everglades Boulevard.
The advent of I-75 signaled a change in the relationship of Collier County to the rest of
Florida and the United States. While US-41 was the only north-south arterial, Collier
County was dominated by the conservative mid -western influences of seasonal residents
and somewhat isolated from the larger urban areas of Florida. After the late 1980s, road
access to Collier was made much more convenient to the northeast via connections with I -4
and I-95. This had the effect of broadening Collier's market exposure and it stimulated
growth. The extension of I-75 south into Dade County promoted better access for European
tourists and made Collier County transient lodging attractive for east coast weekenders.
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Strategic connections exist where Collier Boulevard and CR-92 extend south and west from
US-41 providing access to the City of Marco Island from the greater Naples area and from
Florida's east coast, respectively. State Road 29 connects the southwest Florida agricultural
center of Immokalee with points north, with the Naples coastal community via CR -846,
with the Ft. Myers coastal community via SR-82, and with US-41 at Everglades City which
is the western gateway to Everglades National Park and the 10,000 Islands region of
Collier's southwest coast.
The road transportation system is well planned, well maintained, and operating at
acceptable capacity. Ambitious road construction projects undertaken in anticipation of
growth projections and funded by impact fees have caught up with development. The road
system reflects Collier's position at the southerly limit of development on Florida's west
coast.
MASS TRANSIT:
Collier Area Transit (CAT), operated by Collier County Alternative Transportation Modes
Department, provides inexpensive alternative transportation throughout the county linking
major employment centers of Naples with Marco Island and Immokalee. There are several
circulation routes with stops at the County government complex, hospitals, and major
shopping establishments. The system accommodates bicycle transport and personal items.
The same County department administers the Collier Area Para Transit system which
provides subsidized transportation services for the disabled and economically
disadvantaged.
This is a successful and growing system that connects people with jobs, essential services,
and shopping while reducing transportation costs and road congestion.
AIRPORTS:
Collier County is well supported by a system of five public airports. Southwest Florida
International Airport (RSW) is located in Lee County 25 miles north of Naples; a 45 minute
drive via I-75 from the Collier center of population. This facility serves the five county
southwest Florida regions offering domestic and international air carrier service. In 2017
the airport served more than 8.8 million passengers, making it one of the top 50 airports in
the U.S. for passenger traffic. A total of 15 airline carriers serve the airport with non-stop
service throughout North America and international service to Canada and Germany. It is
modern, convenient, and has planned expansion to keep up with regional growth.
Naples Municipal Airport (APF) owned by the City of Naples and operated by the
independently constituted Naples Airport Authority which derives its revenue principally
from fuel sales. This small airport (about 1 sq. mi.) is located one mile east of downtown
Naples. It serves the coastal community and is especially convenient to affluent residents
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who own private aircraft, to the corporate convention business of the large beachfront
hotels, and to essential services like mosquito control, Emergency Medical Services (EMS),
the Sheriff's office, and private air ambulance services. The two paved runways (5/23 @
5,290' and 14/32 @ 5,000') will support jets including the G4 and Challenger series. Naples
airport is tower controlled and fully certified for commercial operations and is home to
several aircraft charter services and flight training schools. In 2005, Naples Municipal
Airport accommodated 163,434 aircraft operations, a record high. Annual operations
decreased by nearly 50% from 2005 to 2011. The total operations for 2017 were 95,018. Due
to its downtown location, Naples airport has restricted operations of the most noisy jet
aircraft and is at the leading edge of noise abatement measures.
The Collier County Airport Authority owns and operates airports at Marco Island, in
Everglades City, and at Immokalee. These are primarily funded through fuel sales and
hangar leases. Marco Island Airport (MKY) is a very small (64.47 acres) general aviation
facility on the mainland four miles northeast of Marco Island. The single paved runway
(17/35 @ 5,000') will support light jet traffic. Hanger and ramp space is very limited. Fuel is
available. This airport is convenient to Marco Island residents and to the corporate
convention business of the Island hotels. Immokalee Regional Airport (IMM) is one mile
east of Immokalee and 35 miles by road northeast of Naples. This 2 square mile airport has
two paved 5,000 foot runways (18/36 and 09/27) a third diagonal runway is now used as a
weekend drag racing strip. The airport is in a Florida Rural Enterprise Zone and a HUB
Empowerment Zone. A 60 acre zone in and around the airport is a designated Foreign
Trade Zone. To date, the economic potential of this airport is largely unrealized. However,
the field is active as a training destination for coastal-based flight schools, it hosts aerial
firefighting and crop dusting operations, and it bases numerous private aircraft. The
Everglades Airpark (X01) is a light duty general aviation facility of 29.14 acres is within
walking distance of downtown Everglades City. The single paved strip (15/33 @ 2,400')
supports itinerant coastal traffic and half a dozen based aircraft. Fuel, a comfortable pilot
center and bicycles are available.
MARINE TRANSPORTATION:
There is no deep water port and no commercial marine activity other than that associated
with commercial fishing, charter sport fishing, and the marine towing services that support
the pleasure boat industry. The controlling depth to the municipal dock in Naples Bay is six
feet at mean low water. The US Coast Guard maintains a dredged and well-marked
intracoastal waterway from the head of Naples Bay to Coon Key southeast of Marco Island.
Local geography requires vessels northbound from Naples to transit 30 miles of the Gulf of
Mexico before returning to the sheltered intracoastal system at Sanibel Island. Seasonally,
excursions from Marco Island to Key West and from Ft. Myers Beach to Key West are
scheduled daily.
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EDUCATION
Collier County Public School District is a high performing school district which has earned
either an “A” or “B” accountability grade from the State of Florida Department of Education
over the past ten years. The District operates 61 schools; twenty -nine elementary schools,
ten middle schools, eight high schools, a Pre-K through 12 school (Everglades City School)
and 13 Alternative School Programs. The Alternative School Programs include charter
schools and two technical colleges, each with a high school component. Collier County
Public Schools serves 48,000 students. The student body is 51.43% Hispanic, 32.92% white,
11.58% black, and 4.07% other. More than 60% of the public school population is
categorized “economically needy.” Over 50% of public school students live in non-English
speaking homes.
Between 2016 and 2018, the school district had an overall population growth of 2,100
students.
Collier County is also served by several colleges and accredited universities. Three colleges
have campuses in Collier County: Ave Maria University, Hodges University and Florida
Southwestern State College (formerly Edison Community College). Ave Maria University is
a private catholic university that offers both undergraduate and graduate programs
including a law school. Hodges University is a private four-year college that offers
bachelors and master’s degrees in 20 disciplines. Florida Southwestern State College, with
campuses in Naples, Punta Gorda and Ft. Myers, offers both two-year and four-year degree
programs.
Additional universities serving the region are Florida Gulf Coast University a part of
Florida’s state university system; Barry University; and Nova Southeastern University.
42,500
42,100 42,000
42,400 42,400
42,800
43,400
43,800
44,600
45,900
48,000
41,000
42,000
43,000
44,000
45,000
46,000
47,000
48,000
49,000
2004 2006 2008 2010 2012 2014 2016 2018 2020Number of studentshttp://collierschools.com
Collier County Public Schools Enrollment
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University of Florida Extension Services is a land-grant with research based information
through an Extension Office in Immokalee.
CONCLUSION
At the southerly limit of urban development on Florida's west coast, Collier County offers
the climate, natural resources, and sporting opportunities to support a superb retirement
community. The quality of infrastructure, schools, and social services is what one would
expect of such an area. We are experiencing a surge in new development projected to take
us through the next several years. In the long term, the attractions of the climate and
location, and the stability of fixed-account affluence promise continuing prosperity
although probably without the strong emphasis on new development.
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MARKET AREA
Market Area is defined as:
“The geographic region from which a majority of demand comes, and in which the
majority of competition is located.” (The Dictionary of Real Estate Appraisal 6th Edition)
“A combination of factors – e.g., physical features, the demographic and socioeconomic
characteristics of the residents or tenants, the condition of the improvements (age,
upkeep, ownership, and vacancy rates), and land use trends.” (The Appraisal of Real
Estate, Fourteenth Edition)
A market area includes those surrounding land uses which impact the value of a property
and it can encompass one or more neighborhoods or districts. An appraiser focuses on the
market area in analyzing subject property value influences.
BOUNDARIES
The subject property is located within the Golden Gate area of Collier County. For
appraisal purposes, the Golden Gate or market area boundaries are shown below:
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Introduction
The portion of Golden Gate within this market area is approximately 126 square miles in
size. Three separate land uses are worth noting. Golden Gate City, which is not
incorporated, is a 4-square mile development of high residential density consisting of both
single-family and multifamily units. Commercial services for this market area are
centralized here. The rural estates consist of approximately 116 square miles and is zoned
for estate living. This low-density development serves a rural lifestyle desired by many in
the area. A third area, Orange Blossom PUD located on Immokalee Road, is a 4-square mile
residential subdivision without commercial support . It is approximately 50% developed
with primarily single family units. Collier County Fairgrounds, a high school and
elementary school are located here.
Demographics for Golden Gate City and rural estates will be discussed separately, where
appropriate, Data for Orange Blossom PUD will be included in the rural estates
demographics.
Environmental Influences
This area is desired because of mild winter weather and rural life style. Even though it is
inland from the coast there is still easy access to miles of beaches. The Naples ar ea is one
of the very few in Florida that offers adequate public access to a mainland beach. The
subtropical weather allows for year-round recreational opportunities. Boating, swimming,
riding ATVs, and camping are popular activities. Bicycling, walking and jogging are
supported by an extensive network of connected biking and walking paths. Multiple tennis
and pickle ball courts are available, as well as fitness centers.
Golden Gate is known for its clean environment and healthy lifestyle. Residents are drawn
to the rural estates because of wooded lots, native vegetation and abundance of wildlife.
Agriculture uses are permitted; therefore, equestrian activities are common throughout the
estates. Golden Gate City is an urban area served by county parks and a biking/walking
path network.
Governmental Influences
This market area, including Golden Gate City, is governed by Collier County Board of
County Commissioners which serves as chief legislative body and five constitutional
officers; sheriff, clerk of courts, tax collector, supervisor of elections, and property appraiser.
County government is managed by a strong county manager structure. Collier County
provides services which range from average to high quality. However, Collier County is
known for being a difficult county for building and development. The tax burden in
Collier County is lower than the national average.
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County government has zoning and comprehensive plan ordinances designed to protect the
character and values of property; to protect and enhance economic development; and to
maintain and enhance the attractive nature of the area.
Public services include fire protection, solid waste disposal, potable water, sanitary sewer
service and storm water drainage. In some areas of Golden Gate Estates where sanitary
sewer is not available, septic systems are permitted. Public/private companies proved
adequate services for electricity, cable, and internet. Community support facilities such as
schools, parks, churches, shopping, and places of employment are all located within this
market area.
Collier County Sheriff Department provides full range of services for Collier County.
According to the statistics listed by Florida Department of Law Enforcement, Collier
County crime index falls in the lowest 16% of all counties in Florida and crime rate has
decreased nine out of the past ten years. About 78% of all crime is either burglary or
larceny. The county averages are representative of conditions in the Golden Gate area.
This market area is served by several arterial roadways. All are six-lane divided highways
with beautifully landscaped medians. Improvements include street lighting and concrete
curb and gutter. North-south arterial roadways include Santa Barbara Boulevard which
connects Rattlesnake Hammock Road to Immokalee Road and Collier Boulevard (SR-951)
which is a major arterial linking Marco Island in south Collier County with Immokalee
Road near the north county line. Development along Collier Boulevard is a mixture of
single/multi-family residential, office, light industrial, institutional, and retail.
The Collier Boulevard thoroughfare anchors a grid of arterial roads spaced about 2 miles
apart, that serve the greater Naples coastal community which lies to the west and has direct
access to I-75.
East-west arterials include Golden Gate Parkway, Pine Ridge Road, and Immokalee Road.
Each one provides direct access to Interstate I-75. Development along Pine Ridge Road is
mainly developed with single family homes and institutional uses. Golden Gate Parkway
and Immokalee Roads have a mixture of single/multi-family residential, office, industrial,
institutional, and retail uses. Another east-west arterial is Vanderbilt Beach Road which is a
direct connection between the Golden Gate area and the Naples beaches.
Interstate I-75, which connects Collier County to both North Florida and Florida’s east coast,
serves this entire market area and access is provided by three interchanges.
The arterial road system is laid out in a grid pattern that provides adequate traffic flow to
all areas of the county. Commercial development exists at every major intersection; but, the
intersections are designed with proper turns lanes and signaling to provide for adequate
traffic movement. The road network easily handles traffic demand in the off-season, May
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through December. Traffic more than doubles in January, February, March and April
because of seasonal residents and tourists. Even with exceptionally heavy traffic, the road
network usually handles peak traffic demand without major delays.
The rural estates are served by a grid of residential streets and collector roads. The
residential streets, which are two-lane roads with open swales, are located every quarter
mile. Most these roads are paved; however, some residential streets located along the
eastern edge of this market area have yet to be improved. The residential streets feed into
collector roads, which connect to the major arterial highway system. The collector roads
include Santa Barbara Boulevard, Golden Gate Boulevard, Wilson Boulevard, Everglades
Boulevard, Randall Boulevard and Oil Well Road. They are four-lane in the more
populated areas, transitioning to two-lanes in the eastern section of this market area.
Public transportation is provided by a county transit bus services.
Naples Municipal Airport is located outside the market area, but is easily accessed by any
resident of the area. The airport is City owned, but operated by the independent Naples
Airport Authority. It serves private and commercial aviation, as well as aviation related
activities. It supports government services, such as, Mosquito Control District and Collier
County Sheriff’s aviation unit.
Social Influences
Golden Gates City is a diverse community of entry level housing. Residents like the small
town feel and consider it a safe place to raise a family. Residential is approximately 95%
built out. Rural estates are attractive for it’s quiet country living while being in close
proximity to all that the coastal community has to offer. Build out varies in the rural estates
from 95% in the western portion of the market area to 40% or less in the southeastern
location. Per US Census Bureau forecasts, the 2019 population is 70,636 with a projected
growth to 75,824 (7.34% growth) by 2024. This area experiences a lower seasonal
population increase during the winter months than other areas of Collier County.
The median age is 36.3 with 81.2% of the population being 54 and younger. The median
household income is $62,446. 24.6% have a bachelor’s or professional degree and 25.4%
have some college education. There is an average degree of community involvement
through civic organizations, neighborhood groups, social service organizations and political
committees.
The Naples cost of living is 2% higher than the average cost of living in the United States.
Conversely, Florida has a cost of living that is lower than the US average. Of the 25 locations
included in the Economic Policy Institute's d ataset for Florida, Naples-Marco Island is the
21st most expensive. In Naples, housing is the category with the highest index (21% above
national average), while taxes are the category with the lowest index (15% below national
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average). (Ref. Careertrends.com; cost of living analysis). Golden Gate has some of the
highest density of affordable housing units in Collier County, but because of the high cost of
living, home values can still be out of reach for many moving into Collier County.
One of the main driving forces impacting growth in this area is the quality of schools. This
market area has 15 public schools; two high schools, four middle schools, and nine
elementary schools. Three of these schools received an A, five received a B and seven
received a C rating in the last Florida state grading period. All schools in Golden Gate City
are C schools with at least 86% minority and economically disadvantaged student
enrollment. The majority of schools located in the rural estates area are either A or B
schools with minority enrollment between 40% and 65%. In addition to the public school
system, there are three, faith-based private schools.
Economic Influences
Population increased 52% over the last 19 years or 1,272 people per year. Population is
forecasted to increase an additional 7.34% over the next five years for an average of 1,038
people per year. This trend is consistent with the past sixteen years and should continue
into the near future as buildout continues along the eastern edge of this market area. The
residential population is dominated by working class and young professional residents.
Comparatively, incomes within this market area are less than the county a verage.
Development trends:
Residential
This market area provides a large range in home values from entry level housing to million
dollar estates and is the greatest source of vacant residential lots in the county. Values in
Golden Gate City should remain consistent subject only to general market trends. Values in
the eastern rural estates will increase as buildout in the units closest to the coast continues
Median home value in the market area is $274,006 which is lower the than the County’s
median home value. Total number of households in the market area is 26,116, of which,
59.4% are owner occupied, 25.4% renter occupied and 15.2% vacant. Vacancy include
seasonal rentals.
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Commercial
Commercial development can be categorized in four different groups. Primary commercial
is in Golden Gate City. Second group is newer construction at the arterial road
intersections. Third is neighborhood commercial within the rural estates. Fourth is the
industrial commerce park near Collier Boulevard and the I-75 interchange.
Golden Gate City is the commercial center serving this market area. Santa Barbara
Boulevard, north of Golden Gate Parkway, has a mixture of multi-family residential and
commercial along the east side of the road. Commercial consists of older single story, single
user buildings and 4 to 8 unit strip centers. Businesses include daycare/ preschools,
neighborhood food mart and gas stations, construction company offices, barber shops and
beauty salons and small restaurants. Golden Gate Parkway has a mixture of multi-family
and commercial development along both sides of the roadway. Newer commercial consists
of CVS and Walgreens Pharmacies, bank branches and national fast food restaurants. There
are three older shopping centers, anchored by Winn Dixie, K Mart and by Ace Hardware.
Single story commercial structures and strip centers house neighborhood businesses such as
barber shops and beauty salons, florists and jewelers; veterinary services and family
medical clinics; and small locally-run restaurants and food marts. Several businesses
consist of automotive support such as gas stations, oil chance and car washes. Professional
services are primarily located in executive suites located near Santa Barbara Boulevard.
There is a Quality Inn Hotel located at the southwest corner of Golden Gate Parkway and
Collier Boulevard. Commercial frontage along the west side of Collier Boulevard south of
Green Boulevard is very similar to commercial along Golden Gate Parkway in building size,
age and use. The exception is that there is a greater density of national food chains. The
second-tier commercial properties, without major road frontage, are developed with single
story warehouse-type structures housing service-oriented businesses.
Newer commercial development is located along Collier Boulevard where it intersects Pine
Ridge Road and Vanderbilt Beach Road. Each intersection has a shopping center anchored
by either a Publix or Winn-Dixie super market. Out parcel development includes bank
branches and gas station/convenience stores and national pharmacies.
Commercial development in the rural estates is limited because residents have orchestrated
an ongoing effort to prohibit commercial development in the residential areas. The only
two neighborhood commercial locations are at the intersection of Wilson Boulevard and
Golden Gate Boulevard and at Randall Boulevard and Immokalee Road. Both areas have
minor commercial development and it is not expected that additional commercial zoning
would be approved any time soon.
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Industrial
Industrial/commercial developments are in the northeast quadrant of I-75 and Collier
Boulevard interchange. White Lake Industrial Corp Park is one of Collier County’s three
primary industrial parks. The White Lake Industrial Park contains 144.4 acres and is
approved for 7.80 acres of commercial and 77 acres of industrial. White Lake consists of
newer, good quality flex and warehouse properties and it is home to some of the largest
manufacturing facilities within the county. It is approximately 50% built-out. City Gate
Commerce Center contains 288 acres zoned for 2,950,000 S.F. of commercial, light industry,
office, warehouse and distribution. The site has over 3,000 feet of frontage on Collier
Boulevard where a gas station, a 102 room Spring Hill Marriott Hotel and a 100 room
Fairfield Inn Marriott have been constructed. Approximately 90% of the interior lots are
vacant.
Medical
None of Collier County’s major medical facilities are located within this market area. The
only major medical center/hospital servicing this area is the Physicians Regional Medical
Center located along Pine Ridge Road, just east of Interstate 75. This is a 201-bed facility
and is one of the county's four major medical centers. The hospital offers a 24-hour
emergency department that provides a full range of traditional emergency serv ices. An
additional emergency room facility was recently completed at the northeast corner of
Collier Boulevard and Immokalee Road. This is a two-story 19 room, state of the art
emergency room with additional medical space for practicing physicians. The facility was
built to help service the rural estates and all the new residential units being constructed
along Collier Boulevard and Immokalee Road.
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Health care, construction, education, retail, and management positions dominate the market
area business sector.
Total Businesses 1,597
Total Employees 10,194
Total Population 70,636
Employee/Pop. Ratio 0.14:1
MARKET AREA BUSINESS SUMMARY
Industry Businesses Employees
Agriculture/Mining 102 904
Construction 300 1,319
Manufacturing 13 279
Transportation 69 210
Communication 6 34
Utility 7 33
Wholesale Trade 33 300
Retail Trade 243 1,873
Finance/Insurance/Real Estate 114 507
Services 558 4,398
Government 19 325
Unclassified Establishments 132 13
U.S. Census Bureau, Ersi forecasts for 2018 and 2023
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MARKET AREA LIFE CYCLE
Market areas often pass through a four-stage life cycle of growth, stability, decline, and
revitalization.
• Growth – A period during which the market area gains public favor and acceptance.
• Stability – A period of equilibrium without marked gains or losses
• Decline – A period of diminishing demand
• Revitalization – A period of renewal, redevelopment, modernization and increasing
demand.
Most the real estate activity in Golden Gate reflects the growth cycle. The residential and
commercial markets continue to be strong. The growth cycle is expected to continue into the
near future. Because of the age of the structures, the western portion and the city center are
just beginning to experience some revitalization.
CONCLUSION
This continues to be one of the most affordable market areas in Collier County. The houses
within the city center provide entry level housing and the rural area satisfies the desire for
larger lot sizes and rural lifestyle. A well-designed road network provides easy access to
jobs serving the coastal community; coastal beaches and water activities; entertainment
endeavors; and commercial and medical services. This area appeals to a cross section of the
population but primarily to working class families. Development continues to push north
and east where vacant lots still exist. Golden Gate will likely continue to enjoy a healthy
growth while maintaining its affordability.
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PROPERTY INFORMATION
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SITE DESCRIPTION
Location The property is located at northeastern end of 19th Street
NW in Naples, Collier County, Florida.
Legal Description All of Tract 81, Golden Gate Estates, Unit No. 7, according
to the plat thereof, as recorded in Plat Book 4, Page 96 and
97, of the Public Records of Collier County, Florida.
Property ID# 36915200008
Owner of Record Collier County
Size/Easements The size of the parcel is based on the legal description
obtained for the most recent warranty deed and plat maps.
9.12 gross acres or 397,361 square feet
The parcel is encumbered by an 80-foot wide drainage
easement along the northern border and therefore the
upland area is 7.91 acres or 344,561 square feet.
The parcel is also encumbered by a 30-foot wide road right-
of-way easement along the western boundary for 19th Street
NW. This is a perpetual, non-exclusive, road right-of way,
drainage, and utility easements which preclude most all
practical uses by the owner, but the areas within the
easements can be utilized for density calculations. Such
easements are typical of the area. The gross acreage will be
utilized in the appraisal report.
Shape Trapezoid
Frontage The parcel fronts for 503.66 feet along the east side of 19th
Street NW. 19th Street NW is a 2-lane, north/south
residential street which connects to Golden Gate Boulevard
to the south.
Access The subject is provided full service access from 19th Street
NW. Overall, access is good.
Topography The parcel is level and at road grade.
Vegetation The property is in its native state and covered in vegetation
consisting of both native and exotic vegetation including,
slash pines, cypress, cabbage palms, palmettos, and
Brazilian pepper.
Utilities Electricity, telephone, and TV cable are available. The
property is currently serviced by well and septic.
Adequate capacity exists to support full utilization of the
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site.
Concurrency The service levels along the adjacent road system are
within acceptable limits as defined by Collier County.
There are no concurrence issues adversely affecting this
property.
Surrounding Land Uses The subject is surrounded by single-family residences and
vacant residential land. Located to the north across the
canal is the Olde Florida Golf Course.
Demographics (2020) 2-mile 5 10
Population 7,015 61,964 254,202
Households 2,547 22,136 103,799
Median HH Income $76,280 $77,783 $72,695
Median Home Value $361,049 $374,445 $351,389
Site Improvements None
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SUBJECT PHOTOGRAPHS
View to the north along 19th Street NW.
View to the south along 19th Street NW.
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View to the northeast from the southwest corner.
View to the east along the northern boundary.
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View to the southeast from the northwest corner.
View to the west into the subject property.
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ENVIRONMENTAL CONTAMINATION
Observed Contamination None
Noted Concerns None
Environmental Assessment
Available
No
Impact on Value None
Disclaimer Unless otherwise stated in this report, the existence
of hazardous substances or environmental
conditions including but not limited to asbestos,
polychlorinated biphenyls, petroleum leakage,
agricultural chemicals, urea formaldehyde
insulation, lead paint, toxic mold, et cetera, which
might or might not be present in or on the property
were not called to the attention of the appraiser.
Such tests were not in the appraiser's required
scope of work, the appraiser is not qualified to test
for such substances and conditions and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any such conditions that might exist,
or for the knowledge and expertise required to
discover them.
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NATURAL RESOURCE CONCERNS
Condition of subject The property is in its native state and has never
been cleared. I was not provided with any
environmental reports.
All plant and animal communities are of interest
and concern. To a greater or lesser degree
depending on the species and the quality of habitat
they occupy, plants and animals inhabiting the
property will invoke some level of scrutiny and will
result in some cost during the permitting process.
Natural Resource Audits Available No
Impact on Value N/A
Disclaimer
Specialized natural resource audits were not in the
appraiser’s required scope of work, the appraiser is
not qualified to conduct such audits and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any extraordinary natural resource
concerns, or for the knowledge and expertise
required to discover them.
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FUTURE LAND USE
Ordinance or Plan Collier County Growth Management Plan (GMP)
Golden Gate Area Master Plan (GGAMP)
Future Land Use Designation Residential Estates Subdistrict
Purpose of Designation The property has a future land use designation of
Estates. The Estates designation is characterized by
low density semi-rural residential lots with limited
opportunities for other land uses. Residential
density is limited to a maximum density of one unit
per 2.25 gross acres.
Under the Estates future land use designation there
is no provision for a conditional use and therefore a
conditional use approval requires an amendment to
the GGAMP.
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ZONING
Ordinance or Land Development
Code
Collier County
Zoning E – Estates
Purpose or Intent of Zoning The subject is zoned “E” – Estates District. The
purpose and intent of the Estates district is to
provide lands for low density residential
development in a semi-rural to rural environment.
In addition, several conditional uses including
churches, social and fraternal organizations, child
care centers, private schools, and group care
facilities are available under conditional use
provisions. Permitted uses include single-family
dwellings and Family Care Facilities, and public
schools. Conditional uses permissible in the Estates
district include churches and other places of
worship, social and fraternal organizations, child
and adult care centers, schools and group care
facilities. These conditional uses are strictly
regulated. The subject site satisfies all the
minimum zoning requirements.
Below are the development requirements as set
forth in the Estate Zoning District:
Minimum Lot Area: 98,010 square feet
or 2.25 acres
Minimum Lot Width: 150 feet
Minimum Front Yard Setback: 75 feet minimum
Minimum Side Yard Setback: 30 feet
Minimum Rear Yard Setback: 75 feet
Maximum Building Height: 30 feet
The subject is a legal conforming lot.
Copies of pertinent sections of the Comprehensive Plan and Land Development Code are
included in the Addendum.
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ASSESSMENT AND TAXES
By statute, real estate in Florida is assessed at 100% of fair market value as of January 1st
of the tax year. Since annual tax assessments are based on sales from previous years,
depending upon market trends, assessed values can fall on either side of the current
market value estimate. The tax assessment is usually not a reliable indicator of market
value.
Parcel Tax ID 36915200008
Assessment and Tax Year 2020
Land Assessment $316,500
Improvement Assessment $0
Combined Total Assessment $316,500
10% CAP ($213,093)
AG Exemption $0
Assessed Value $103,407
Taxable Value $0
Ad Valorem Taxes $0 (Tax exempt)
Non- Ad Valorem Taxes $0
Total Taxes $0
Taxing Authority/Jurisdiction Collier County
The total assessment is$34,704 per gross acre. The land assessment is consistent with
other similar parcels along 19th Street NW. The assessment is higher than my estimate of
market value.
The 2020 total assessment reflects a 6.66% increase from 2019. The 2020 total assessment
increased 236.68% from the 2019 assessed value. Assessed values can be increased a
maximum of 10% annually and therefore the 10% CAP was applied.
The parcel is owned by a government entity and therefore is tax exempt.
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FLOOD ZONE DATA
Flood Zone X, X500, and AH
Flood Zone Comments Zone X – Areas subject to inundation by the
0.2% annual chance flood with average
flood depths of less than 1 foot or with
drainage areas less than 1 square mile.
Zone X500 – Areas subject to inundation by
the 0.2% annual chance flood with average
flood depths of less than 1 foot or with
drainage areas less than 1 square mile.
Zone AH – Areas of 1% annual-chance
shallow flooding with a constant water-
surface elevation (usually areas of ponding)
where average depths are between 1 and 3
feet. Base flood elevations determined.
Community Panel Number 12021C0410H
Revised May 16, 2012
Source National Flood Insurance Program
Flood Insurance Rate Maps
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TRANSACTIONAL HISTORY
Sales History There have been no transactions in the
previous three years.
CURRENT STATUS
Subject Listed for Sale/Under Contract No
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HIGHEST AND BEST USE
DEFINITION
For typical appraisal practice in the United States, The Dictionary of Real Estate Appraisal,
Sixth Edition, published 2015 by the Appraisal Institute, defines Highest and Best Use as:
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.
METHOD
There are four criteria that must be met in order for a use to be the highest and best use for a
given property. The highest and best use must be:
• Legally permissible.
• Physically Possible.
• Financially feasible.
• Maximally productive.
Ordinarily these criteria are considered sequentially, each step narrowing the range of
alternative uses being considered.
ANALYSIS
SITE AS THOUGH VACANT
Legally Permissible: The zoning ordinance and Growth Management Plan are consistent
in identifying the property for residential uses. The site consists of one oversized parcel
that could be developed with up to three single-family residences.
Physically Possible: The site is level and at road grade and could be developed as one,
two, or three single-family home sites. The location, surrounding land uses, and the size
of the property suggest some type of single-family use.
Financially Feasible: The financial feasibility of single-family residential development is
good. The single-family residential market continues to be strong, especially new
construction. Single-family residential development is financially feasible.
Maximally Productive: The maximally productive use is that it be developed with one,
two, or three single-family residences.
CONSIDERATION OF APPROACHES
Only the sales comparison approach is appropriate for this vacant parcel.
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SALES COMPARISON APPROACH
INTRODUCTION
In the sales comparison approach, the subject property is compared with similar properties
that have sold recently or for which listing prices or offering prices are known. Data from
generally similar properties is used, and comparisons are made to demonstrate a probable
price at which the subject property would sell if offered on the market. This approach is
particularly strong when comparable sales data is plentiful and there is good conformity
among properties in the neighborhood.
Following is the procedure to be followed in developing this approach:
1. Research the market to gather information on sales, listings, and offers to purchase
properties similar to the subject.
2. Verify the information as to factual accuracy and arm's-length market considerations.
3. Identify relevant units of comparison and develop a comparative analysis for each
unit.
4. Compare the subject with comparable sale properties using elements of comparison
and adjust the sale price of each comparable appropriately.
5. Reconcile the various value indicators produced from the analysis of comparables into
a single value indication or a range of values.
The outline above is developed in detail on the following pages.
SALES DATA
A search was made for sales of land comparable to the subject parcel. The intention was to
find comparable sales in similar locations that offer similar functional utility. A total of five
closed sales were identified as the best available for analysis.
Price per gross acre was developed as the unit of comparison, since that is the unit best
suited to the analysis, and the one most often utilized by local buyers, seller, and brokers of
land similar to the subject parcel.
Comparable land sales data is given on the following pages. Each comparable is identif ied
by a number which will be used for reference throughout the report. Each comparable is
identified on the location map immediately following this page.
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LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES
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VACANT LAND COMPARABLE 01
ADDRESS 557 Wilson Boulevard North, Naples, FL 34120
PROPERTY ID NO. 37118760001
SALE PRICE $187,000
UNIT AREA 5.15 acres
UNIT PRICE $36,311 per acre
DATE OF RECORDING July 31, 2020
O.R. BOOK-PAGE 5797/3378
CONTRACT DATE July 6, 2020
GRANTOR Ken T. Trins
GRANTEE ARDOCH, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES Sold 4/3/14 for $75,000.
LEGAL DESCRIPTION
All of Tract 133, Golden Gate Estates Unit No. 11, according to the map or plat thereof as recorded in Plat Book 4, Pages 103 & 104, Public
Records of Collier County, Florida.
VERIFICATION
Verified with Alonzo Holguin-Bueno, selling agent. He verified the sale price and the arm’s-length nature. The buyer is an owner-user who
plans to construct a single-family residence. The property was listed for $189,000 and was on the market 326 days. The listing price
originally began at $225,000.
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VACANT LAND COMPARABLE 02
ADDRESS 1471 Golden Gate Boulevard W, Naples, FL 34120
PROPERTY ID NO. 37062080002
SALE PRICE $180,000
UNIT AREA 5.15 acres
UNIT PRICE $34,951 per acre
DATE OF RECORDING June 05, 2020
O.R. BOOK-PAGE 5771/3265
CONTRACT DATE May 4, 2020
GRANTOR Dania Mederos Revocable Trust
GRANTEE Windell and Cheryl Elliot
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
All of Tract 33, Golden Gate Estates Unit No. 10, according to the map or plat thereof as recorded in Plat Book 4, Pages 101, Public Records
of Collier County, Florida.
VERIFICATION
Verified with Meiry Abreu, selling agent. She verified the sale price and the arm's-length nature. The property was listed for $180,000 and
was on the market 3 days. Based on a wetlands determination report, there are 0.50 acres of wetlands located on the northern portion of
the lot.
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VACANT LAND COMPARABLE 03
ADDRESS 144 5th Street SW, Naples, FL 34120
PROPERTY ID NO. 37164040005
SALE PRICE $160,000
UNIT AREA 5.00 acres
UNIT PRICE $32,000 per acre
DATE OF RECORDING March 25, 2020
O.R. BOOK-PAGE 5774/143
CONTRACT DATE March 6, 2020
GRANTOR Janet M. Bleeker Revocable Trust
GRANTEE Melvin Noel Guzman Aleman
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
All of Tract 54, Golden Gate Estates Unit No. 12, according to the map or plat thereof as recorded in Plat Book 4, Pages 105 and 106, Public
Records of Collier County, Florida.
VERIFICATION
Verified with Dawn Olitsky, assistant to the listing agent. She verified the sale price and the arm's-length nature. The property was listed
for $169,900 and was on the market 235 days. The buyer plans to subdivide the lot.
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VACANT LAND COMPARABLE 04
ADDRESS 870 8th Street NE, Naples, FL 34120
PROPERTY ID NO. 39260840000
SALE PRICE $167,000
UNIT AREA 5.78 acres
UNIT PRICE $28,893 per acre
DATE OF RECORDING October 26, 2020
O.R. BOOK-PAGE 5835/2647
CONTRACT DATE October 13, 2020
GRANTOR Vincent Medinger
GRANTEE Haven Builders, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
All of Tract 18, Golden Gate Estates Unit No. 49, according to the map or plat thereof as recorded in Plat Book 5, Pages 80 and 81, Public
Records of Collier County, Florida.
VERIFICATION
Verified with Doug Risher, listing agent. He verified the sale price and the arm's-length nature. The property was listed for $179,900 and
was on the market 123 days. The property is encumbered by two canals/drainage easements totaling 72,300 square feet or 1.66 a cres. The
upland acreage of the property is 4.12 acres.
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VACANT LAND COMPARABLE 05
ADDRESS 919 4th Street SE, Naples, FL 34120
PROPERTY ID NO. 37224920007
SALE PRICE $225,000
UNIT AREA 9.78 acres
UNIT PRICE $23,006 per acre
DATE OF RECORDING June 29, 2020
O.R. BOOK-PAGE 5784/1084
CONTRACT DATE June 15, 2020
GRANTOR Stephen Dubina Jr. and Helen Kaiser
GRANTEE Omar Martinez and Boris Espinosa
FINANCING Seller Financing
TOPO-ELEVATION Level and at road grade
GROUND COVER Native vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
All of Tract 72, Golden Gate Estates Unit No. 13, according to the map or plat thereof as recorded in Plat Book 7, Pages 71 and 72, Public
Records of Collier County, Florida.
VERIFICATION
Verified with Bill Duffy, Jr., listing agent. He verified the sale price and the arm's-length nature. The property was listed for $267,500 and
was on the market 112 days. The property is encumbered by a canals/drainage easement totaling 2.12 acres. The upland acreage of the
property is 7.64 acres. Only a small portion of land along the canal is wetlands.
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LAND SALES ADJUSTMENT GRID
ITEM SUBJECT COMP #1 COMP #2 COMP #4 COMP #3 COMP #5
PROPERTY IDENTIFICATION 19th Street NW 557 Wilson 1471 GG 144 5th Street 870 8th Street 919 4th Street
Blvd. N.Blvd. W.SW NE SE
SALE PRICE N/A $187,000 $180,000 $160,000 $167,000 $225,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0
CONDITIONS OF SALE Market Market Market Market Market Market
0 0 0 0 0
BUILDING IMPROVEMENTS None None None None None None
0 0 0 0 0
FINANCING Cash or Cash to seller Cash to seller Cash to seller Cash to seller Seller Financing
Equivalent 0 0 0 0 0
ADJUSTED SALE PRICE N/A $187,000 $180,000 $160,000 $167,000 $225,000
Recording Date N/A 07/31/20 06/05/20 03/25/20 10/26/20 06/29/20
Months Prior To Effective Date 11/12/20 3.42 5.26 7.63 0.56 4.47
MARKET CHANGE ADJUSTMENT N/A 2.6%3.9%5.7%0.4%3.4%
ADJUSTED SALE PRICE N/A $191,795 $187,101 $169,152 $167,700 $232,544
Parcel Area in Gross Acres 9.12 5.15 5.15 5.00 5.78 9.78
PRICE PER ACRE ?$37,242 $36,330 $33,830 $29,014 $23,778
LOCATION
ADDRESS 19th Street NW Wilson Blvd. N GG Blvd. W 5th Street SW 8th Street NE 4th Ave. NE
CORNER LOT No No Yes No No No
CANAL FRONTAGE Yes No No No Yes Yes
OVERALL LOCATION Average Similar Similar Similar Similar Similar
0%0%0%0%0%
UTILITIES Well & Septic Similar Similar Similar Similar Similar
0%0%0%0%0%
COMP. PLAN Estates Estates Estates Estates Estates Estates
ZONING E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates
0%0%0%0%0%
SIZE IN ACRES 9.12 5.15 5.15 5.00 5.78 9.78
SHAPE/CONFIGURATION Trepezoid Similar Similar Similar Similar Similar
0%0%0%0%0%
PHYSICAL CHARACTERISTICS Native Veg.Similar Similar Similar Similar Similar
0%0%0%0%0%
GROSS ADJUSTMENT N/A 0%0%0%0%0%
INDICATION OF UNIT VALUE ?$37,242 $36,330 $33,830 $29,014 $23,778
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DISCUSSION OF ADJUSTMENTS
Usually, comparable sale properties are not exactly like the subject property. If a typical
buyer would perceive the difference to be significant, then adjustment(s) must be made to
the comparable sales so that in the end each offers a realistic indication of value for the
subject. Adjusting comparable sales is a two-step process.
First, adjustments are made so that all of the comparable sales meet the standard of a
“market” transaction as outlined in the definition of market value. Customarily, the first
group of adjustments is made before the comparables are reduced to a common unit of
comparison. Included at this stage are adjustments to bring historic sales current to the
appraisal effective date.
The second group of adjustments is made after an appropriate unit of comparison is chosen.
These adjustments account for physical differences like location, physical characteristics and
size. Sometimes adjustment is required for differences in the permitted land use (zoning) or
in the availability of public service (infrastructure). When the adjustment process is
complete, the unit value indications are reconciled and converted into an estimate of value
for the subject.
REAL PROPERTY RIGHTS CONVEYED
This adjustment category is intended to account for the interest, benefits, and rights
inherent in the ownership of real estate. This category reflects the impact on value caused
by the fee simple versus the leased fee interest or the contract rent as opposed to market
rent.
• None of the comparable sales required adjustment in this category.
CONDITIONS OF SALE
This adjustment category is intended to account for a variety of factors that might affect
the purchase price.
• None of the comparable sales required adjustment in this category.
BUILDING IMPROVEMENTS
This category of adjustment is intended to account for the positive or negative contribution
to value of building improvements included with the sale of the land. Buildings that made
a positive contribution to the sale price require a negative adjustment. Buildings that were
demolished and removed require a positive adjustment to account for demolition costs
which are treated as part of the purchase price.
• None of the comparable sales required adjustment in this category.
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FINANCING
Adjustments in this category are intended to account for unusual terms of financing that
are not considered equivalent to cash or conventional financing.
• None of the comparable sales required adjustment in this category.
MARKET CHANGE
This adjustment is intended to account for changes in value due to the ebb and flow of
market forces over time.
Five recent sales are presented below that have sold and resold over the past two years in
the Golden Gate Estates sub-market. The sales utilized in the report range from less than a
month to over seven months old. A market change rate of 0.75% per month or 9.00%
annually was applied.
LOCATION/ACCESS/EXPOSURE
This category of adjustment reflects the impact on value caused by the advantages or
disadvantages of a given location.
• The subject benefits from canal frontage. I analyzed recent and historic sales of Estates
zoned land along the canal and compared them to non-waterfront parcels. The
premium ranged from almost no difference to as much as 22.13%. Comparables 4 and
5 have canal frontage, but there doesn’t appear to be a premium paid and therefore no
adjustment was warranted.
UTILITIES/INFRASTRUCTURE
This category of adjustment references the availability and adequacy of the road system,
the public was distribution system and the public waste water collection system of each
comparable property as that compares with the same services available to the subject
property.
• None of the comparable sales required adjustment in this category.
Address Parcel ID#Prior Sale Recent Sale Months Prior Sale Price Recent Sale Price Appreciation Monthly Change
2179 Wilson Blvd N 37598880006 06/26/19 07/14/20 12.62 $60,000 $74,500 24.17%1.91%
3161 Wilson Blvd N 37693380003 05/18/18 04/28/20 23.37 $72,000 $80,000 11.11%0.48%
Wilson Blvd N 38500800002 08/20/18 05/31/20 21.37 $45,000 $48,200 7.11%0.33%
22nd St SE 39391680003 02/25/19 05/20/20 14.79 $62,500 $68,500 9.60%0.65%
533 6th St SE 37227120008 04/26/18 03/19/20 22.78 $40,900 $49,900 22.00%0.97%
AVG 0.87%
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COMPREHENSIVE PLAN/LAND USE
This category of adjustment accounts for differences in the potential land uses
(Comprehensive Plan) or in the specific uses (Zoning) to which a property could be
developed. Differences in value between the subject property and comparable sales might
exist because their highest and best uses are different as a result of government regulation
through zoning and land use controls.
• None of the comparable sales required adjustment in this category.
SIZE/SHAPE
This category of adjustment addresses the effect on the marketability of a given property,
because its physical size/shape might limit the physical utility, or because the size and
term of the financial investment required of an investor/speculator is such that the unit
price is reduced.
• None of the comparable sales required adjustment in this category.
PHYSICAL CHARACTERISTICS
This category of adjustment reflects the physical aspects of a property that impact its use
for development. Physical characteristics included land elevation, soil conditions,
drainage characteristics, threatened or endangered plant and animal species on the
property and the extent and density of covering vegetation.
• None of the comparable sales required adjustment in this category.
RECAPITULATION OF DATA
After making the adjustments discussed above, the comparable sales indicated the
following unit values:
Comparables Price Per Gross Acre
of Land Area
1 $37,242
2 $36,330
3 $33,830
4 $29,014
5 $23,778
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RECONCILIATION OF DATA
To arrive at a conclusion regarding the value of the subject, the comparable sales and their
indications of value should be weighted according to the quality of each as a value
indicator.
Comparables 4 and 5 are the strongest indicators of value. They are both canal front sale
and most similar in size and physical characteristics. Comparables 4 and 5 were weighted
25%.
Comparables 1, 2, and 3 are all good indicators of value and were given equal weight.
The range of unit value indications is from $23,778 to $37,242 per acre. The arithmetic mean
of the five comparables is $32,039 per acre and the median is $33,830 per acre. The
weighted average discussed above yields $31,102 per acre.
Based on the range of sales and the upward trend, I settled on a unit value of $32,000 per
acre.
ESTIMATE OF VALUE
$32,000 per gross acre results in an indication of value for the subject as of November 12,
2020 of $291,840 (9.12 acres x $32,000 per acre) which rounds to $292,000.
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
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ADDENDA
(In Order of Appearance)
Page Topic Count Page(s) Page(s)
Assumptions and Limiting Conditions............................................................................ 2
Zoning.................................................................................................................................... 4
Future Land Use................................................................................................................... 4
Qualifications of Appraiser................................................................................................. 2
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ASSUMPTIONS AND LIMITING CONDITIONS
The certification of the appraiser appearing in this report is subject to the following
assumptions and limiting conditions.
ACCEPTANCE OF AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES
ACCEPTANCE OF ALL GENERAL AND EXTRAORDINARY ASSUMPTIONS AND
LIMITING CONDITIONS.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
None
HYPOTHETICAL CONDITIONS
None
GENERAL ASSUMPTIONS AND LIMITING CONDITIONS
1. No responsibility is assumed for the legal description or for matters including legal or title
considerations. Title to the property is assumed to be good and marketable.
2. The property is appraised free and clear of liens and encumbrances.
3. Responsible ownership and competent property management are assumed.
4. The information furnished by others is assumed to be true, correct and reliable. A
reasonable effort was made to verify such information, but the appraiser bears no
responsibility for its accuracy.
5. All engineering is assumed to be correct. The plot plans and illustrative material is
included only to assist the reader in visualizing the property.
6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or
structures that render it more or less valuable. No responsibility is assumed for such
conditions or for arranging for engineering studies that might be required to discover
them.
7. It is assumed that there is full compliance with all applicable federal, state, and local
environmental regulations and laws.
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8. It is assumed that the property is either in compliance with, or is "grandfathered" or
"vested" under, all applicable zoning, use regulations and restrictions.
9. It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any local, state, or national government or
private entity or organization have been, or can be, obtained or renewed for any use on
which the value estimate is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries or
property lines of the property described, and that there is no encroachment or trespass.
11. It is assumed that the subject site and improvements are not contaminated by any
hazardous material or toxic substance. During the property inspection we were sensitive
to obvious signs of contamination and we reported anything unusual. However, we are
not qualified to render professional opinions regarding the existence or the nature of
hazardous materials in or on the subject property. If a definitive opinion is desired, then
the client is urged to retain an expert in the field.
12. The distribution of the total value in this report, between land and improvements, applies
only under the stated program of utilization. The separate allocations for land and
buildings must not be used in conjunction with any other appraisal and are invalid if so
used.
13. Possession of this report, or a copy thereof, does not carry with it the right of publication.
14. Unless previous arrangements were made, the appraisers, by reason of this appraisal, are
not required to give further consultation, testimony, or to be in attendance in court.
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B. Estate District (E). The purpose and intent of the estates district (E) is to pro vide 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.
1. The following subsections identify the uses that are permissible by right and the uses that are allowable
as accessory or conditional uses in the estates district (E).
a. Permitted uses.
1. Single-family dwelling.
2. Family care facilities, subject to section 5.05.04
3. Essential services, as set forth in section 2.01.03
4. Schools, public, including "Educational plants."
b. Accessory Uses.
1. Uses and structures that are accessory and incidental to uses permitted as of right in the (E)
district.
2. Fruits, vegetables, and nursery plants grown for both personal consumption and off -site retail
sale, such as farmer's markets. Farm operations that grow fruits, vegetables, and nursery
plants for off-site retail sale shall be subject to LDC section 5.02.00 Home Occupations, as
amended, and the following standards:
i. Farm operations shall not occupy more than 50 percent of the lot.
ii. Farm operations shall conform to minimum setbacks established in LDC sections 2.03.01
B.2 and 4.02.01 A. Table 2.1, however, no side, rear or front setbacks are required
greater than 30 feet.
iii. Vegetation removal for farm operations shall be subject to LDC section 3.05.05 F, as
amended.
3. Keeping of fowl or poultry, not to exceed 25 in total number, provided such fowl or poultry are
kept in an enclosure located a minimum of 30 feet from any lot line, and a minimum of 100
feet from any residence on an adjacent parcel of land.
4. Keeping of horses and livestock (except for hogs), not to exceed two such animals for each
acre, and with no open feedlots. Any roofed structure for the shelter and feeding of such
animals shall be a minimum of 30 feet from any lot line and a minimum of 10 0 feet from any
residence on an adjacent parcel of land.
i. Notwithstanding the above, hog(s) may be kept for a 16 week period in preparation for
showing and sale at the annual Collier County Fair and/or the Immokalee Livestock
show. The following standards shall apply:
a) One hog per child enrolled in a 4-H Youth Development Program, Collier County
Fair Program or similar program is permitted. In no case shall there be more than 2
hogs per acre.
b) Premises shall be fenced and maintained in a clean, healthful, and sanitary
condition.
c) Premises or roofed structure used for the sheltering, feeding, or confinement of
such animals shall be setback a minimum of 30 feet from lot lines and a minimum
of 100 feet from any dwelling unit on an adjacent parcel of land.
d) Hog(s) shall not be returned to the property once removed for showing and/or sale.
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5. One guesthouse, subject to section 5.03.03
6. Recreational facilities that serve as an integral part of a residential development and have
been designated, reviewed and approved on a site development plan or preliminary
subdivision plat for that development. Recreational facilities may include but are not limited
to golf course, clubhouse, community center building and tennis facilities, parks, playgrounds
and playfields.
7. Excavation and related processing and production subject to the following criteria:
i. These activities are incidental to the permitted used onsite.
ii. The amount of excavated material to be removed from the site cannot exceed 4,000
cubic yards total. Amounts in excess of 4,000 cubic yards shall require conditional use
approval for earth mining, pursuant to the procedures and conditions set forth in section
10.08.00
c. Conditional uses. For Estates zoning within the Golden Gate Estates subdivision, the Golden
Gate Area Master Plan in the GMP restricts the location of conditional uses. The following uses
are permissible as conditional uses in the estates district (E), subject to the standards and
procedures established in section 10.08.00
1. Churches.
2. Social and fraternal organizations.
3. Child care centers and adult day care centers.
4. Schools, private.
5. Group care facilities (category I); care units, subject to the provisions of subsection 2.03.01
B.3.f; nursing homes; assisted living facilities pursuant to § 400.402 F.S. and ch. 58A-5
F.A.C.; and continuing care retirement communities pursuant to § 651 F.S. and ch. 4 -193
F.A.C.; all subject to section 5.05.04.
6. Group care facilities (category II) care units subject to section 5.05.04 only when tenancy of
the person or persons under care would not:
i. Constitute a direct threat to the health or safety of other individuals;
ii. Result in substantial physical damage to the property of others; or
iii. Result in the housing of individuals who are engaged in the current, illegal use of or
addiction to a controlled substance, as defined in section 802 of title 21, U.S. Code.
7. Extraction or earthmining, and related processing and production not incidental to the
development of the property subject to the following criterion and subsection 4.02.02 C.
i. The site area shall not exceed 20 acres
8. Essential services, as set forth in subsection 2.01.03 G.
9. Model homes and model sales centers, subject to compliance with all other LDC
requirements, to include but not limited to section 5.04.04
10. Ancillary plants.
d. Prohibited uses.
1. Owning, maintaining or operating any facility or part thereof for the following purposes is
prohibited:
i. Fighting or baiting any animal by the owner of such facility or any other person or entity.
ii. Raising any animal or animals intended to be ultimately used or used for fighting or
baiting purposes.
iii. For purposes of this subsection, the term baiting is defined as set forth in F.S. §
828.122(2)(a), as it may be amended from time to time.
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2. Minimum yard Requirements. See subsection 4.02.01 A. Table 2.1 for the general requirements. The
following are exceptions to those requirements:
a. Conforming Corner lots. Conforming corner lots, in which only one full depth setback shall be
required along the shorter lot line along the street. The setback along the longer lot line may be
reduced to 37.5 feet, so long as no right-of-way or right-of-way easement is included within the
reduced front yard. (See Exhibit A)
b. Nonconforming Corner lots. Nonconforming corner lots of record, in which only one full depth
setback shall be required along the shorter lot line along the street. The setback along the longer
lot line may be reduced to 15 feet, so long as no right-of-way or right-of-way easement is included
within the reduced front yard. (See Exhibit B)
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c. Nonconforming through lots, i.e. double frontage lots, nonconforming lots of record with
double road frontage, which are nonconforming due to inadequate lot depth, in which case, the
front yard along the local road portion shall be computed at the rate of 15 percent of the depth of
the lot, as measured from edge of the right-of-way.
i. The nonconforming through lot utilizing the reduced frontage shall establish the lot
frontage along the local road only. Reduced frontage along a collector or arterial roadway to
serve such lots is prohibited. Front yards along the local road shall be developed with
structures having an average front yard with a variation of not more than six feet; no
building thereafter erected shall project beyond the average line so established.
d. Nonconforming lots of record, which are nonconforming due to inadequate lot width, in which
case the required side yard shall be computed at the rate of ten (10) percent of the width of the lot.
(Ord. No. 06-63, § 3.C; Ord. No. 07-67, § 3.C; Ord. No. 08-11, § 3.D; Ord. No. 08-63, § 3.C; Ord. No. 10-23,
§ 3.E; Ord. No. 12-38, § 3.B; Ord. No. 13-56, § 3.B; Ord. No. 14-40, § 2.A)
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Packet Pg. 598 Attachment: Appraisal for Transportation 9.14 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
APPRAISAL REPORT
FOR
COLLIER COUNTY GMD/
TRANSPORTATION ROW
SUBJECT PROPERTY:
PARCEL 1122 POND
5.00 GROSS ACRES
LOCATED ALONG 10TH AVENUE NE
NAPLES, FL 34120
AT THE REQUEST OF:
HARRY HENDERSON, SRA
REVIEW APPRAISER
COLLIER COUNTY GMD/
TRANSPORTATION ROW
2885 S. HORSESHOE DRIVE
NAPLES, FL 34104
ASSIGNMENT NO.:
5556B-TS
APPRAISAL EFFECTIVE DATE:
NOVEMBER 12, 2020
DATE OF REPORT:
DECEMBER 28, 2020
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Packet Pg. 599 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
5556B Report Table of Contents
Carroll & Carroll
Table of Contents
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS ......................................................... 1
CERTIFICATION ..................................................................................................................................... 3
SCOPE OF WORK ................................................................................................................................... 5
ESTATE APPRAISED .............................................................................................................................. 6
DEFINITION OF MARKET VALUE ..................................................................................................... 7
ASSUMED EXPOSURE TIME ................................................................................................................ 7
AREA INFORMATION .......................................................................................................................... 8
MARKET AREA ..................................................................................................................................... 19
PROPERTY INFORMATION ............................................................................................................... 30
SITE DESCRIPTION .......................................................................................................................... 32
SUBJECT PHOTOGRAPHS .............................................................................................................. 34
ENVIRONMENTAL CONTAMINATION .................................................................................... 38
NATURAL RESOURCE CONCERNS ............................................................................................ 39
ZONING .............................................................................................................................................. 42
ASSESSMENT AND TAXES ............................................................................................................ 44
FLOOD ZONE DATA ....................................................................................................................... 45
TRANSACTIONAL HISTORY ........................................................................................................ 47
CURRENT STATUS ........................................................................................................................... 47
HIGHEST AND BEST USE ................................................................................................................... 48
CONSIDERATION OF APPROACHES ............................................................................................. 48
SALES COMPARISON APPROACH ................................................................................................. 49
LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES ............................. 50
VACANT LAND COMPARABLES ............................................... Error! Bookmark not defined.
LAND SALES ADJUSTMENT GRID .............................................................................................. 56
ESTIMATE OF VALUE ......................................................................................................................... 60
ADDENDA ............................................................................................................................................. 61
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5556B Report Summary of Important Data & Conclusions
Carroll & Carroll 1
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS
This information is summarized only for convenience. The value given is the final, rounded
conclusion of the appraisal. To use this summary without first reading the appraisal report
could be misleading.
PROPERTY INFORMATION
Property Identification
Parcel 1122 Pond
5.00 Gross Acres located along 10th Avenue NE,
Naples, FL 34120
Property Description
A canal front parcel containing 5.00 gross-acres located
along the north side of 10th Avenue NE, west of 8th Street
NE in Naples, Florida.
Property Type Vacant Land
Owner of Record Collier County
Property ID # 37493920003
CLIENT INFO & VALUE CONCLUSIONS
Client Collier County GMD/Transportation ROW
Intended Use To assist in asset management.
Intended Users Collier County GMD/Transportation ROW
Appraisal Effective Date November 12, 2020
Date of Report December 28, 2020
Date of Inspection November 12, 2020
Purpose of Appraisal Estimate Market Value “As Is”
Estate Appraised Fee Simple
Interest Appraised 100%
Estimated Market Value $180,000
GENERAL INFO
Appraiser
Timothy W. Sunyog, MAI
State-Certified General Appraiser RZ 3288
Scope of Work All applicable approaches to value were developed.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
None
HYPOTHETICAL CONDITIONS
None
MARKET CONDITIONS STATEMENT
COVID-19 is affecting the real estate market in ways that are sensed, but still mostly
unmeasurable. Real estate remains the preferred store of wealth in times of risk and
instability.
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For almost everyone, the greatest risk associated with COVID-19 is the risk of broad
economic dislocation. This manifests as work days lost, forced business closures, supply
line shortages, and economic decline due to decreased activity. The longer extraordinary
economic conditions like those continue, the slower will be the return to normalcy.
The local residential real estate market felt the negative effects during the first few months
of the pandemic but has since recovered with the number of closed sales, pending sales,
and median price higher in June, July, August, September, and October 2020 compared to
June-October 2019. Pent up demand from the pandemic and record low interest rates are
fueling this market.
COVID-19 has had different impacts on the commercial market. The industrial market is in
a period of stability. The majority of the business owners and tenants in the Southwest
Florida industrial market are construction or service type businesses that are not being
negatively impacted by the pandemic. The office market is also in a period of stability. We
are not seeing the large downsizing as in much of the country and with more employees
able to work remotely and the corporate tax benefits in Florida, the office market should
remain stable. Most retail and hospitality properties are feeling the negative impacts.
Commercial tenant revenues are declining which could affect lease payments. If negative
conditions persist, commercial tenants could be lost, and then be slow to replace. Retail
tenants, especially restaurants without drive-thru facilities, are struggling. The motel/hotel
market is also being negatively impacted due to travel restrictions. We expect marketing
periods to lengthen, and the time required to close a transaction to increase. There is
resiliency in the commercial market due to high occupancies and strong net operating
income.
If workers experience permanent job loss and replacement jobs are not available, or if
personal incomes are reduced for long periods, then the residential rental market might be
affected. We don’t expect panic sales as there is no safe alternative and relaxed fiscal policy
is intended to reduce pressure on the hardest hit. The local retired residential community is
resilient, and our community infection rate had been declining, but is beginning to increase
heading into the winter months.
It is noted the current financial market is in a state of uncertainty, and it is not currently
known how this instability has affected the real estate market segment, or how it could
potentially affect real estate. Certain immediate events in the economy may occur that
could cause the property to perform differently than the estimates and conclusions
contained herein. It is expressed the estimates and conclusions contained herein are subject
to risk and uncertainty. We are not responsible for any negative affects the financial market
may have on the property that cannot be foreseen at this time.
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5556B Report Certification
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CERTIFICATION
I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF:
I personally inspected the subject property and made an inspection of all comparable
sales or listings identified in the report.
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 our personal, impartial and unbiased
professional analyses, opinions and conclusions.
I 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.
In the three years immediately prior to acceptance of this assignment I have not
performed any services regarding the subject property as appraisers, or in any other
capacity.
I have no bias with respect to the property that is the subject of this report or the parties
involved with this assignment.
My engagement in this assignment was not contingent upon developing or reporting
predetermined results.
My 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.
My analyses, opinions and conclusions were developed, and this report was prepared,
in conformity with the Uniform Standards of Professional Appraisal Practice. I am also
subject to the Code of Ethics and Standards of Professional Practice of the Appraisal
Institute, which includes provisions for peer review.
The use of this report is subject to the requirements of the State of Florida relating to
review by the Florida Real Estate Appraisal Board and to the requirements of the
Appraisal Institute relating to review by its duly authorized representatives.
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5556B Report Certification
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No one other than the undersigned prepared the analyses, opinions and conclusions
concerning real estate that are set forth in this report.
As of the date of this report, I have completed the requirements of the continuing
education program of the State of Florida, and for Designated Members of the
Appraisal Institute.
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
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5556B Report Scope of Work
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SCOPE OF WORK
All applicable approaches to value were developed and the value conclusion reflects all
known information about the subject property, market conditions, and available data.
The scope of work was:
• Inspected and photographed the subject property
• Reviewed aerial photographs, land use plans, the Land Development Code, and other
documentation
• Reviewed how the property relates to its neighborhood and to the broader market area
in development of an opinion of highest and best use
• Researched vacant land comparable sales, listings, and pending sales
• Developed the sales comparison approach
• Estimated the market value of the fee simple estate
• Prepared an appraisal report summarizing the appraisal assignment, the property
appraised, the application of the appraisal methodology, and the logical support for the
value conclusion
Sources of market data included local and regional MLS systems, CoStar, LoopNet, public
records, and interviews with real estate brokers.
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ESTATE APPRAISED
The estate appraised is the Fee Simple Absolute. For appraisal purposes Fee Simple
Absolute is synonymous with Fee Simple.
The Dictionary of Real Estate Appraisal, Sixth Edition, published 2015 by the Appraisal
Institute, defines Fee Simple Estate as:
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.
We consider easements, but only to the extent that they are known to us. Appraisal of the
fee simple means that an improved property is vacant and available to be put to its highest
and best use.
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5556B Report Definition of Market Value
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DEFINITION OF MARKET VALUE
In United States tax law, the definition of Fair Market Value is found in the United States
Supreme Court decision in the Cartwright case:
The fair market value is the price at which the property would change hands between a
willing buyer and a willing seller, neither being under any compulsion to buy or to sell
and both having reasonable knowledge of relevant facts.
United States v. Cartwright, 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S.
Tax Case. (CCH) ¶ 12,926 (1973) (quoting from U.S. Treasury regulations relating to Federal
estate taxes, at 26 C.F.R. sec. 20.2031-1(b)).
ASSUMED EXPOSURE TIME
The reasonable exposure time referenced in (c) above is assumed to have already occurred
as of the appraisal effective date. The assumed reasonable exposure time was between 3 and
4 months.
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AREA INFORMATION
COLLIER COUNTY ANALYSIS
An analysis of geography, transportation, population, employment, income and education
for Collier County is performed using data provided by Site to Do Business, Florida Office
of Economic & Demographic, United States Department of Labor and Fishkind &
Associates, all recognized source(s).
GEOGRAPHY
Collier County is the most southerly county on Florida's west coast offering mainland
coastal development. Collier County is west of Ft. Lauderdale and south of Tampa. With
2,025 square miles of land area, it is the largest county in Florida. 821,620 acres, or about
63% of the land area, is in public ownership, is set aside for parks and environmental
preservation, or is scheduled for public land acquisition.
The region enjoys a climate that is classified as subtropical. Summers are relatively mild
and winters are usually frost free. A hard freeze is a rarity. The climate, especially in
winter, is one that attracts and is enjoyable to most people.
The geography of the area runs generally northwest and southeast as indicated by the trend
of the coastline. Beaches extend from the northern county line south to Cape Romano and
then, as the coastline trends further to the southeast, beaches give over to mangrove islands
and swamps. Moving northeastward from the beaches, elevations increase very slowly.
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Most of the county is less than 15 feet above mean sea level. Although changes in elevation
are gradual, they are well defined by variations in vegetation. Much of the county is, or was
once, wetland. The once plentiful marine resources are largely depleted, but still provide
good sport fishing.
Population centers include the coastal communities of Naples, Marco Island and
Everglades/Chokoloskee. Immokalee, the single large interior community, is located in
north Collier County and is the agricultural center of the region.
POPULATION
“The social forces studied by appraisers primarily relate to population characteristics. The
demographic composition of the population reveals the potential demand for real estate,
which makes the proper analysis and interpretation of demographic trends important in an
appraiser’s analysis.” The total population, it's composition by age and gender, and the rate
of household formation and dissolution strongly influence real property values. (The
Appraisal of Real Estate 14th Edition)
Collier County’s population has continued to increase year after year. The population has
grown at an annual rate of 1.8% from 2010 to 2018. The population forecasts through 2023
call for a continued steady growth cycle at an estimated annual rate of 1.856% or 7,031
people per year.
Collier County for years has been one of the nations’ fastest growing counties, historically
outperforming the state. Population increases began in 2010, trending once again towards
outperforming the state.
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
2000 2005 2010 2018 2023 2030 2035 2040
Collier County Population
Florida Office of Economic & Demographic Research and Esri forecasts 2018
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Collier County is a popular retirement destination. As of 2018, 55.50% of the County’s
residents are over the age of 45. The 2023 forecasts depict an aging community with 56.5%
of the population 45 years of age or older.
0%
5%
10%
15%
20%
25%
30%
2000 2005 2010 2018 2023 2030 2035 2040Population Change (%) Population Change (State vs County)
Collier
County
YearYear
Florida Office of Economic & Demographic Research and Esri forecasts 2018
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
0-4 5-9 10-14 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+
2010
2018
2023Percentage
Age
Population by Age
U.S.Census Bureau, Census 2010 Summary File 1. Ersi forecasts for 2018 and 2023
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EMPLOYMENT
Collier County is a largely service based economy with 34.2% of the employees in the
leisure, hospitality, education and health service industries and 20.8% in professional,
business, financial and other services. Trade, transportation, & utilities along with
government jobs account for 28.2% of the County’s employees. Industries such as natural
resources/mining, construction, and manufacturing make up only 15.9% of the market.
Leisure &
Hopitality
Trade,
Transportation &
Utilties
Education & Health
Services
Professional &
Business Services
Construction
Government
Financial Activties
Other Services
Mining &
Manufacturing
2017 EMPLOYED BY INDUSTRY -COLLIER COUNTY
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Top 11 Largest Employers Collier County -2012
Rank Company Employees
1 Collier County Public Schools 4739
2 NCH Healthcare System 4000
3 Collier County Government 1591
4 Collier County Sheriff's Office 1371
5 Ritz Carlton, Naples 1100
6 Gargiula, Inc. 1100
7 Arthrex, Inc 1056
8 Hometown Inspection Services 900
9 Publix 800
10 Naples Grande Beach Resort 760
11 Marriott 730
Source: www.eflorida.com as reported in 2014 Clerk of Courts Annual Report
The unemployment rate in Collier County exceeded the state average by a slight margin in
2018. The unemployment rate then declined through 2018 as the economy improved and,
until recently, Collier County’s unemployment rates decreased more rapidly than the state.
0.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%
2010
2011
2012
2013
2014
2015
2016
2018
Unemployment Rate (County vs State)
Collier County State of Florida
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BUSINESS CLIMATE
Businesses, both existing and new, can experience a high level of collaboration within the
community — private business, non-profits and government — as well as a common
purpose: maintaining the enviable lifestyle residents here enjoy. Naples and Collier
County offer deep resources for everything from start-up business loans and workforce
training to accelerators that can jump-start a business, allow it to expand or move here from
a foreign country or out of state. Collier County is the 10th fastest growing metropolitan
area in the country, according to the U.S. Census Bureau and was the top fastest growing
area in the country for 2016 in a ranking by the U.S. Conference of Mayors. Wallet Hub also
ranked Naples/Collier County as the No. 3 Best Place to Start a Business in Florida and
Forbes magazine/Moody's Analytics Forbes ranked Naples and Collier County No. 4 in the
Top 10 Best Cities for future job growth.
INCOME
Collier County’s per capita income and median household income levels are higher than
state statistics. The most substantial difference between Collier County and the state is the
large percentage difference in household incomes above $100,000 where Collier County
exceeds the state by over 8%. Collier County's percentage household incomes ranging from
$25,000 to $99,999 mirror that of the state but is significantly lower in the percentage of
household incomes under $25,000. Income levels vary greatly within different areas of
Collier County, and so, will be discussed in greater detail in the Market Area description.
TRANSPORTATION
The transportation system reflects local geography, population densities and the primary
motivators of tourism, service industry employment, the construction industry, agriculture,
and leisure activities.
ROADS:
The earliest roads were coastal, extending from north to south in the early twentieth century
with the first settlers. Principal among these is US-41, commonly referred to as the Tamiami
Trail because it was built to connect Tampa and Miami. Where it passes through the coastal
community US-41 is a four or six lane divided highway with landscaped medians, curb and
gutter, street lights and often with concrete sidewalks. The Trail is the principal coastal
arterial and one that defines several important boundaries. Often there is a noticeable land
value difference east and west of US-41 because the affluent coastal population prefers to
shop and trade close to home. As the highway turns southeast from downtown Naples
toward Miami the Trail defines the boundary of the coastal management zone which affects
development densities and storm evacuation requirements. The eastern segment of US -41
is a designated national scenic highway popular with tourists, especially during the winter
season as they seek adventure in the Everglades.
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A system of asphalt surfaced arterials, major collectors, minor collectors, and neighborhood
streets extend into the urban area east and west from US-41. North-south arterials and
major collectors are established about one mile apart. From west to east, these include
Goodlette-Frank Road, Airport-Pulling Road, Livingston Road, Santa Barbara Boulevard
and Collier Boulevard. The east-west grid is spaced about two miles apart; from north to
south being Immokalee Road (CR-864), Vanderbilt Beach Road (CR-862), Pine Ridge Road
(CR-896), Golden Gate Parkway (CR-886), Radio Road (CR-856), Davis Boulevard (SR-84),
and Rattlesnake Hammock Road (CR-864). Within the urban area all of these are at least 4
lane divided highways.
East of Collier Boulevard the road system reflects the economies of scale of Golden Gate
Estates subdivision (the Estates) where 102 square miles of rural subdivision is supported
by a grid system of paved and unpaved 2 lane streets, with 2 and 4 lane asphalt surfaced
major collectors. Golden Gate Boulevard, a 4 lane divided road for five of its eleven miles
east of CR-951, is the principal east-west collector. Everglades Boulevard (2 lane and
asphalt surfaced) is the north-south major collector extending south from Immokalee Road
14 miles to the grade separation at I-75 where it continues into the Picayune Strand State
Forest. Most of the neighborhood streets in Golden Gate Estates are asphalt. Collier
County is planning to extend east-west collectors through the Estates along the alignment of
Vanderbilt Beach Road and somewhere south of Golden Gate Boulevard. A north-south
connection is also planned from the eastern terminus of White Boulevard (Pine Ridge Road)
north to Golden Gate Boulevard.
Interstate highway 75 (I-75) was extended from north to south through Collier County in
the mid-1980s along a flood-proof route about five miles inland. Directly east of the City of
Naples I-75 joins the original alignment of State Road 84 (Alligator Alley) connecting with
Florida's east coast at Ft. Lauderdale. The coastal community I-75 interchanges are spaced
three to four miles apart at Immokalee Road (CR-864), Pine Ridge Road (CR-896), Golden
Gate Parkway (CR-886), and at Collier Boulevard/Davis Boulevard (CR-951/SR-84). Twenty
one miles east of the coastal community is an interchange at State Road 29; the last
interchange in Collier County. Collier County and the FDOT continue to study the
feasibility of an interchange at Everglades Boulevard.
The advent of I-75 signaled a change in the relationship of Collier County to the rest of
Florida and the United States. While US-41 was the only north-south arterial, Collier
County was dominated by the conservative mid -western influences of seasonal residents
and somewhat isolated from the larger urban areas of Florida. After the late 1980s, road
access to Collier was made much more convenient to the northeast via connections with I -4
and I-95. This had the effect of broadening Collier's market exposure and it stimulated
growth. The extension of I-75 south into Dade County promoted better access for European
tourists and made Collier County transient lodging attractive for east coast weekenders.
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Strategic connections exist where Collier Boulevard and CR-92 extend south and west from
US-41 providing access to the City of Marco Island from the greater Naples area and from
Florida's east coast, respectively. State Road 29 connects the southwest Florida agricultural
center of Immokalee with points north, with the Naples coastal community via CR-846,
with the Ft. Myers coastal community via SR-82, and with US-41 at Everglades City which
is the western gateway to Everglades National Park and the 10,000 Islands region of
Collier's southwest coast.
The road transportation system is well planned, well maintained, and operating at
acceptable capacity. Ambitious road construction projects undertaken in anticipation of
growth projections and funded by impact fees have caught up with development. The road
system reflects Collier's position at the southerly limit of development on Florida's west
coast.
MASS TRANSIT:
Collier Area Transit (CAT), operated by Collier County Alternative Transportation Modes
Department, provides inexpensive alternative transportation throughout the county linking
major employment centers of Naples with Marco Island and Immokalee. There are several
circulation routes with stops at the County government complex, hospitals, and major
shopping establishments. The system accommodates bicycle transport and personal items.
The same County department administers the Collier Area Para Transit system which
provides subsidized transportation services for the disabled and economically
disadvantaged.
This is a successful and growing system that connects people with jobs, essential services,
and shopping while reducing transportation costs and road congestion.
AIRPORTS:
Collier County is well supported by a system of five public airports. Southwest Florida
International Airport (RSW) is located in Lee County 25 miles north of Naples; a 45 minute
drive via I-75 from the Collier center of population. This facility serves the five county
southwest Florida regions offering domestic and inter national air carrier service. In 2017
the airport served more than 8.8 million passengers, making it one of the top 50 airports in
the U.S. for passenger traffic. A total of 15 airline carriers serve the airport with non-stop
service throughout North America and international service to Canada and Germany. It is
modern, convenient, and has planned expansion to keep up with regional growth.
Naples Municipal Airport (APF) owned by the City of Naples and operated by the
independently constituted Naples Airport Authority which derives its revenue principally
from fuel sales. This small airport (about 1 sq. mi.) is located one mile east of downtown
Naples. It serves the coastal community and is especially convenient to affluent residents
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who own private aircraft, to the corporate convention business of the large beachfront
hotels, and to essential services like mosquito control, Emergency Medical Services (EMS),
the Sheriff's office, and private air ambulance services. The two paved runways (5/23 @
5,290' and 14/32 @ 5,000') will support jets including the G4 and Challenger series. Naples
airport is tower controlled and fully certified for commercial operations and is home to
several aircraft charter services and flight training schools. In 2005, Naples Municipal
Airport accommodated 163,434 aircraft operations, a record high. Annual operations
decreased by nearly 50% from 2005 to 2011. The total operations for 2017 were 95,018. Due
to its downtown location, Naples airport has restricted operations of the most noisy jet
aircraft and is at the leading edge of noise abatement measures.
The Collier County Airport Authority owns and operates airports at Marco Island, in
Everglades City, and at Immokalee. These are primarily funded through fuel sales and
hangar leases. Marco Island Airport (MKY) is a very small (64.47 acres) general aviation
facility on the mainland four miles northeast of Marco Island. The single paved runway
(17/35 @ 5,000') will support light jet traffic. Hanger and ramp space is very lim ited. Fuel is
available. This airport is convenient to Marco Island residents and to the corporate
convention business of the Island hotels. Immokalee Regional Airport (IMM) is one mile
east of Immokalee and 35 miles by road northeast of Naples. This 2 square mile airport has
two paved 5,000 foot runways (18/36 and 09/27) a third diagonal runway is now used as a
weekend drag racing strip. The airport is in a Florida Rural Enterprise Zone and a HUB
Empowerment Zone. A 60 acre zone in and around the airport is a designated Foreign
Trade Zone. To date, the economic potential of this airport is largely unrealized. However,
the field is active as a training destination for coastal-based flight schools, it hosts aerial
firefighting and crop dusting operations, and it bases numerous private aircraft. The
Everglades Airpark (X01) is a light duty general aviation facility of 29.14 acres is within
walking distance of downtown Everglades City. The single paved strip (15/33 @ 2,400')
supports itinerant coastal traffic and half a dozen based aircraft. Fuel, a comfortable pilot
center and bicycles are available.
MARINE TRANSPORTATION:
There is no deep water port and no commercial marine activity other than that associated
with commercial fishing, charter sport fishing, and the marine towing services that support
the pleasure boat industry. The controlling depth to the municipal dock in Naples Bay is six
feet at mean low water. The US Coast Guard maintains a dredged and well-marked
intracoastal waterway from the head of Naples Bay to Coon Key southeast of Marco Island.
Local geography requires vessels northbound from Naples to transit 30 miles of the Gulf of
Mexico before returning to the sheltered intracoastal system at Sanibel Island. Seasonally,
excursions from Marco Island to Key West and from Ft. Myers Beach to Key West are
scheduled daily.
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EDUCATION
Collier County Public School District is a high performing school district which has earned
either an “A” or “B” accountability grade from the State of Florida Department of Education
over the past ten years. The District operates 61 schools; twenty -nine elementary schools,
ten middle schools, eight high schools, a Pre-K through 12 school (Everglades City School)
and 13 Alternative School Programs. The Alternative School Programs include charter
schools and two technical colleges, each with a high school component. Collier County
Public Schools serves 48,000 students. The student body is 51.43% Hispanic, 32.92% white,
11.58% black, and 4.07% other. More than 60% of the public school population is
categorized “economically needy.” Over 50% of public school students live in non-English
speaking homes.
Between 2016 and 2018, the school district had an overall population growth of 2,100
students.
Collier County is also served by several colleges and accredited universities. Three colleges
have campuses in Collier County: Ave Maria University, Hodges University and Florida
Southwestern State College (formerly Edison Community College). Ave Maria University is
a private catholic university that offers both undergraduate and graduate programs
including a law school. Hodges University is a private four-year college that offers
bachelors and master’s degrees in 20 disciplines. Florida Southwestern State College, with
campuses in Naples, Punta Gorda and Ft. Myers, offers both two-year and four-year degree
programs.
Additional universities serving the region are Florida Gulf Coast University a part of
Florida’s state university system; Barry University; and Nova S outheastern University.
42,500
42,100 42,000
42,400 42,400
42,800
43,400
43,800
44,600
45,900
48,000
41,000
42,000
43,000
44,000
45,000
46,000
47,000
48,000
49,000
2004 2006 2008 2010 2012 2014 2016 2018 2020Number of studentshttp://collierschools.com
Collier County Public Schools Enrollment
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University of Florida Extension Services is a land-grant with research based information
through an Extension Office in Immokalee.
CONCLUSION
At the southerly limit of urban development on Florida's west coast, Collier County offers
the climate, natural resources, and sporting opportunities to support a superb retirement
community. The quality of infrastructure, schools, and social services is what one would
expect of such an area. We are experiencing a surge in new development projected to take
us through the next several years. In the long term, the attractions of the climate and
location, and the stability of fixed-account affluence promise continuing prosperity
although probably without the strong emphasis on new development.
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MARKET AREA
Market Area is defined as:
“The geographic region from which a majority of demand comes, and in which the
majority of competition is located.” (The Dictionary of Real Estate Appraisal 6th Edition)
“A combination of factors – e.g., physical features, the demographic and socioeconomic
characteristics of the residents or tenants, the condition of the improvements (age,
upkeep, ownership, and vacancy rates), and land use trends.” (The Appraisal of Real
Estate, Fourteenth Edition)
A market area includes those surrounding land uses which impact the value of a property
and it can encompass one or more neighborhoods or districts. An appraiser focuses on the
market area in analyzing subject property value influences.
BOUNDARIES
The subject property is located within the Golden Gate area of Collier County. For
appraisal purposes, the Golden Gate or market area boundaries are shown below:
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Introduction
The portion of Golden Gate within this market area is approximately 126 square miles in
size. Three separate land uses are worth noting. Golden Gate City, which is not
incorporated, is a 4-square mile development of high residential density consisting of both
single-family and multifamily units. Commercial services for this market area are
centralized here. The rural estates consist of approximately 116 square miles and is zoned
for estate living. This low-density development serves a rural lifestyle desired by many in
the area. A third area, Orange Blossom PUD located on Immokalee Road, is a 4-square mile
residential subdivision without commercial support . It is approximately 50% developed
with primarily single family units. Collier County Fairgrounds, a high school and
elementary school are located here.
Demographics for Golden Gate City and rural estates will be discussed separately, where
appropriate, Data for Orange Blossom PUD will be included in the rural estates
demographics.
Environmental Influences
This area is desired because of mild winter weather and rural life style. Even though it is
inland from the coast there is still easy access to miles of beaches. The Naples area is one
of the very few in Florida that offers adequate public access to a mainland beach. The
subtropical weather allows for year-round recreational opportunities. Boating, swimming,
riding ATVs, and camping are popular activities. Bicycling, walking and jogging are
supported by an extensive network of connected biking and walking paths. Multiple tennis
and pickle ball courts are available, as well as fitness centers.
Golden Gate is known for its clean environment and healthy lifestyle. Residents are drawn
to the rural estates because of wooded lots, native vegetation and abundance of wildlife.
Agriculture uses are permitted; therefore, equestrian activities are common throughout the
estates. Golden Gate City is an urban area served by county parks and a biking/walking
path network.
Governmental Influences
This market area, including Golden Gate City, is governed by Collier County Board of
County Commissioners which serves as chief legislative body and five constitutional
officers; sheriff, clerk of courts, tax collector, supervisor of elections, and property appraiser.
County government is managed by a strong county manager structure. Collier County
provides services which range from average to high quality. However, Collier County is
known for being a difficult county for building and development. The tax burden in
Collier County is lower than the national average.
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County government has zoning and comprehensive plan ordinances designed to protect the
character and values of property; to protect and enhance economic development; and to
maintain and enhance the attractive nature of the area.
Public services include fire protection, solid waste disposal, potable water, sanitary sewer
service and storm water drainage. In some areas of Golden Gate Estates where sanitary
sewer is not available, septic systems are permitted. Public/private companies proved
adequate services for electricity, cable, and internet. Community support facilities such as
schools, parks, churches, shopping, and places of employment are all located within this
market area.
Collier County Sheriff Department provides full range of services for Collier County.
According to the statistics listed by Florida Department of Law Enforcement, Collier
County crime index falls in the lowest 16% of all counties in Florida and crime rate has
decreased nine out of the past ten years. About 78% of all crime is either burglary or
larceny. The county averages are representative of conditions in the Golden Gate area.
This market area is served by several arterial roadways. All are six-lane divided highways
with beautifully landscaped medians. Improvements include street lighting and concrete
curb and gutter. North-south arterial roadways include Santa Barbara Boulevard which
connects Rattlesnake Hammock Road to Immokalee Road and Collier Boulevard (SR-951)
which is a major arterial linking Marco Island in south Collier County with Immokalee
Road near the north county line. Development along Collier Boulevard is a mixture of
single/multi-family residential, office, light industrial, institutional, and retail.
The Collier Boulevard thoroughfare anchors a grid of arterial roads spaced about 2 miles
apart, that serve the greater Naples coastal community which lies to the west and has direct
access to I-75.
East-west arterials include Golden Gate Parkway, Pine Ridge Road, and Immokalee Road.
Each one provides direct access to Interstate I-75. Development along Pine Ridge Road is
mainly developed with single family homes and institutional uses. Golden Gate Parkway
and Immokalee Roads have a mixture of single/multi-family residential, office, industrial,
institutional, and retail uses. Another east-west arterial is Vanderbilt Beach Road which is a
direct connection between the Golden Gate area and the Naples beaches.
Interstate I-75, which connects Collier County to both North Florida and Florida’s east coast,
serves this entire market area and access is provided by three interchanges.
The arterial road system is laid out in a grid pattern that provides adequate traffic flow to
all areas of the county. Commercial development exists at every major intersection; but, the
intersections are designed with proper turns lanes and signaling to provide for adequate
traffic movement. The road network easily handles traffic demand in the off-season, May
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through December. Traffic more than doubles in January, February, March and April
because of seasonal residents and tourists. Even with exceptionally heavy traffic, the road
network usually handles peak traffic demand without major delays.
The rural estates are served by a grid of residential streets and collector roads. The
residential streets, which are two-lane roads with open swales, are located every quarter
mile. Most these roads are paved; however, some residential streets located along the
eastern edge of this market area have yet to be improved. The residential streets feed into
collector roads, which connect to the major arterial highway system. The collector roads
include Santa Barbara Boulevard, Golden Gate Boulevard, Wilson Boulevard, Everglades
Boulevard, Randall Boulevard and Oil Well Road. They are four-lane in the more
populated areas, transitioning to two-lanes in the eastern section of this market area.
Public transportation is provided by a county transit bus services.
Naples Municipal Airport is located outside the market area, but is easily accessed by any
resident of the area. The airport is City owned, but operated by the independent Naples
Airport Authority. It serves private and commercial aviation, as well as aviation related
activities. It supports government services, such as, Mosquito Control District and Collier
County Sheriff’s aviation unit.
Social Influences
Golden Gates City is a diverse community of entry level housing. Residents like the small
town feel and consider it a safe place to raise a family. Residential is approximately 95%
built out. Rural estates are attractive for it’s quiet country living while being in close
proximity to all that the coastal community has to offer. Build out varies in the rural estates
from 95% in the western portion of the market area to 40% or less in the southeastern
location. Per US Census Bureau forecasts, the 2019 population is 70,636 with a projected
growth to 75,824 (7.34% growth) by 2024. This area experiences a lower seasonal
population increase during the winter months than other areas of Collier County.
The median age is 36.3 with 81.2% of the population being 54 and younger. The median
household income is $62,446. 24.6% have a bachelor’s or professional degree and 25.4%
have some college education. There is an average degree of community involvement
through civic organizations, neighborhood groups, social service organizations and political
committees.
The Naples cost of living is 2% higher than the average cost of living in the United States.
Conversely, Florida has a cost of living that is lower than the US average. Of the 25 locations
included in the Economic Policy Institute's dataset for Florida, Naples-Marco Island is the
21st most expensive. In Naples, housing is the category with the highest index (21% above
national average), while taxes are the category with the lowest index (15% below national
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average). (Ref. Careertrends.com; cost of living analysis). Golden Gate has some of the
highest density of affordable housing units in Collier County, but because of the high cost of
living, home values can still be out of reach for many moving into Collier County.
One of the main driving forces impacting growth in this area is the quality of schools. This
market area has 15 public schools; two high schools, four middle schools, and nine
elementary schools. Three of these schools received an A, five received a B and seven
received a C rating in the last Florida state grading period. All schools in Golden Gate City
are C schools with at least 86% minority and economically disadvantaged student
enrollment. The majority of schools located in the rural estates area are either A or B
schools with minority enrollment between 40% and 65%. In addition to the public school
system, there are three, faith-based private schools.
Economic Influences
Population increased 52% over the last 19 years or 1,272 people per year. Population is
forecasted to increase an additional 7.34% over the next five years for an average of 1,038
people per year. This trend is consistent with the past sixteen years and should continue
into the near future as buildout continues along the eastern edge of this market area. The
residential population is dominated by working class and young professional residents.
Comparatively, incomes within this market area are less than the county a verage.
Development trends:
Residential
This market area provides a large range in home values from entry level housing to million
dollar estates and is the greatest source of vacant residential lots in the county. Values in
Golden Gate City should remain consistent subject only to general market trends. Values in
the eastern rural estates will increase as buildout in the units closest to the coast continues
Median home value in the market area is $274,006 which is lower the than the County’s
median home value. Total number of households in the market area is 26,116, of which,
59.4% are owner occupied, 25.4% renter occupied and 15.2% vacant. Vacancy include
seasonal rentals.
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Commercial
Commercial development can be categorized in four different groups. Primary commercial
is in Golden Gate City. Second group is newer construction at the arterial road
intersections. Third is neighborhood commercial within the rural estates. Fourth is the
industrial commerce park near Collier Boulevard and the I-75 interchange.
Golden Gate City is the commercial center serving this market area. Santa Barbara
Boulevard, north of Golden Gate Parkway, has a mixture of multi-family residential and
commercial along the east side of the road. Commercial consists of older single story, single
user buildings and 4 to 8 unit strip centers. Businesses include daycare/ preschools,
neighborhood food mart and gas stations, construction company offices, barber shops and
beauty salons and small restaurants. Golden Gate Parkway has a mixture of multi-family
and commercial development along both sides of the roadway. Newer commercial consists
of CVS and Walgreens Pharmacies, bank branches and national fast food restaurants. There
are three older shopping centers, anchored by Winn Dixie, K Mart and by Ace Hardware.
Single story commercial structures and strip centers house neighborhood businesses such as
barber shops and beauty salons, florists and jewelers; veterinary services and family
medical clinics; and small locally-run restaurants and food marts. Several businesses
consist of automotive support such as gas stations, oil chance and car washes. Professional
services are primarily located in executive suites located near Santa Barbara Boulevard.
There is a Quality Inn Hotel located at the southwest corner of Golden Gate Parkway and
Collier Boulevard. Commercial frontage along the west side of Collier Boulevard south of
Green Boulevard is very similar to commercial along Golden Gate Parkway in building size,
age and use. The exception is that there is a greater density of national food chains. The
second-tier commercial properties, without major road frontage, are developed with single
story warehouse-type structures housing service-oriented businesses.
Newer commercial development is located along Collier Boulevard where it intersects Pine
Ridge Road and Vanderbilt Beach Road. Each intersection has a shopping center anchored
by either a Publix or Winn-Dixie super market. Out parcel development includes bank
branches and gas station/convenience stores and national pharmacies.
Commercial development in the rural estates is limited because residents have orchestrated
an ongoing effort to prohibit commercial development in the residential areas. The only
two neighborhood commercial locations are at the intersection of Wilson Boulevard and
Golden Gate Boulevard and at Randall Boulevard and Immokalee Road. Both areas have
minor commercial development and it is not expected that additional commercial zoning
would be approved any time soon.
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Industrial
Industrial/commercial developments are in the northeast quadrant of I-75 and Collier
Boulevard interchange. White Lake Industrial Corp Park is one of Collier County’s three
primary industrial parks. The White Lake Industrial Park contains 144.4 acres and is
approved for 7.80 acres of commercial and 77 acres of industrial. White Lake consists of
newer, good quality flex and warehouse properties and it is home to some of the largest
manufacturing facilities within the county. It is approximately 50% built-out. City Gate
Commerce Center contains 288 acres zoned for 2,950,000 S.F. of commercial, light industry,
office, warehouse and distribution. The site has over 3,000 feet of frontage on Collier
Boulevard where a gas station, a 102 room Spring Hill Marriott Hotel and a 100 room
Fairfield Inn Marriott have been constructed. Approximately 90% of the interior lots are
vacant.
Medical
None of Collier County’s major medical facilities are located within this market area. The
only major medical center/hospital servicing this area is the Physicians Regional Medical
Center located along Pine Ridge Road, just east of Interstate 75. This is a 201-bed facility
and is one of the county's four major medical centers. The hospital offers a 24-hour
emergency department that provides a full range of traditional emergency serv ices. An
additional emergency room facility was recently completed at the northeast corner of
Collier Boulevard and Immokalee Road. This is a two-story 19 room, state of the art
emergency room with additional medical space for practicing physicians. The facility was
built to help service the rural estates and all the new residential units being constructed
along Collier Boulevard and Immokalee Road.
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Health care, construction, education, retail, and management positions dominate the market
area business sector.
Total Businesses 1,597
Total Employees 10,194
Total Population 70,636
Employee/Pop. Ratio 0.14:1
MARKET AREA BUSINESS SUMMARY
Industry Businesses Employees
Agriculture/Mining 102 904
Construction 300 1,319
Manufacturing 13 279
Transportation 69 210
Communication 6 34
Utility 7 33
Wholesale Trade 33 300
Retail Trade 243 1,873
Finance/Insurance/Real Estate 114 507
Services 558 4,398
Government 19 325
Unclassified Establishments 132 13
U.S. Census Bureau, Ersi forecasts for 2018 and 2023
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MARKET AREA LIFE CYCLE
Market areas often pass through a four-stage life cycle of growth, stability, decline, and
revitalization.
• Growth – A period during which the market area gains public favor and acceptance.
• Stability – A period of equilibrium without marked gains or losses
• Decline – A period of diminishing demand
• Revitalization – A period of renewal, redevelopment, modernization and increasing
demand.
Most the real estate activity in Golden Gate reflects the growth cycle. The residential and
commercial markets continue to be strong. The growth cycle is expected to continue into the
near future. Because of the age of the structures, the western portion and the city center are
just beginning to experience some revitalization.
CONCLUSION
This continues to be one of the most affordable market areas in Collier County. The houses
within the city center provide entry level housing and the rural area satisfies the desire for
larger lot sizes and rural lifestyle. A well-designed road network provides easy access to
jobs serving the coastal community; coastal beaches and water activities; entertainment
endeavors; and commercial and medical services. This area appeals to a cross section of the
population but primarily to working class families. Development continues to push north
and east where vacant lots still exist. Golden Gate will likely continue to enjoy a healthy
growth while maintaining its affordability.
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PROPERTY INFORMATION
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SITE DESCRIPTION
Location The property is located along the north side 10th Avenue
NE in Naples, Collier County, Florida.
Legal Description All of Tract 55, Golden Gate Estates, Unit No. 18, according
to the plat thereof, as recorded in Plat Book 7, Page 7 and 8,
of the Public Records of Collier County, Florida.
Property ID# 37493920003
Owner of Record Collier County
Size/Easements The size of the parcel is based on the legal description
obtained for the most recent warranty deed and plat maps.
5.00 gross acres or 217,800 square feet
The parcel is encumbered by a 38-foot wide drainage
easement along the western border and therefore the
upland area is 4.42 acres or 192,720 square feet.
The parcel is also encumbered by a 30-foot wide road right-
of-way easement along the southern boundary for 10th
Avenue NE. This is a perpetual, non-exclusive, road right-
of way, drainage, and utility easements which preclude
most all practical uses by the owner, but the areas within
the easements can be utilized for density calculations. Such
easements are typical of the area. The gross acreage will be
utilized in the appraisal.
Shape Rectangular
Frontage The parcel fronts for 292 feet along the north side of 10th
Avenue NE. 10th Avenue NE is a 2-lane, east/west
residential street.
Access The subject is provided full service access from 10th Avenue
NE. Overall, access is good.
Topography The parcel is level and at road grade.
Vegetation The property is in its native state and covered in vegetation
consisting of both native and exotic vegetation including,
slash pines, cypress, cabbage palms, palmettos, and
Brazilian pepper.
Utilities Electricity, telephone, and TV cable are available. The
property is currently serviced by well and septic.
Adequate capacity exists to support full utilization of the
site.
Concurrency The service levels along the adjacent road system are
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within acceptable limits as defined by Collier County.
There are no concurrence issues adversely affecting this
property.
Surrounding Land Uses The subject is surrounded by single-family residences and
vacant residential land.
Demographics (2020) 2-mile 5 10
Population 7,015 61,964 254,202
Households 2,547 22,136 103,799
Median HH Income $76,280 $77,783 $72,695
Median Home Value $361,049 $374,445 $351,389
Site Improvements None
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SUBJECT PHOTOGRAPHS
View to the west along 10th Avenue NE.
View to the east along 10th Avenue NE.
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View to the northwest from the southeast corner.
View to the north from the central portion of the property.
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View to the northeast from the southwest corner.
View to the north along the western boundary.
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View of the property from across the canal.
View along the western boundary of the property.
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ENVIRONMENTAL CONTAMINATION
Observed Contamination None
Noted Concerns None
Environmental Assessment
Available
No
Impact on Value None
Disclaimer Unless otherwise stated in this report, the existence
of hazardous substances or environmental
conditions including but not limited to asbestos,
polychlorinated biphenyls, petroleum leakage,
agricultural chemicals, urea formaldehyde
insulation, lead paint, toxic mold, et cetera, which
might or might not be present in or on the property
were not called to the attention of the appraiser.
Such tests were not in the appraiser's required
scope of work, the appraiser is not qualified to test
for such substances and conditions and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any such conditions that might exist,
or for the knowledge and expertise required to
discover them.
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NATURAL RESOURCE CONCERNS
Condition of subject The property is in its native state and has never
been cleared. I was not provided with any
environmental reports.
All plant and animal communities are of interest
and concern. To a greater or lesser degree
depending on the species and the quality of habitat
they occupy, plants and animals inhabiting the
property will invoke some level of scrutiny and will
result in some cost during the permitting process.
Natural Resource Audits Available No
Impact on Value N/A
Disclaimer
Specialized natural resource audits were not in the
appraiser’s required scope of work, the appraiser is
not qualified to conduct such audits and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any extraordinary natural resource
concerns, or for the knowledge and expertise
required to discover them.
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FUTURE LAND USE
Ordinance or Plan Collier County Growth Management Plan (GMP)
Golden Gate Area Master Plan (GGAMP)
Future Land Use Designation Residential Estates Subdistrict
Purpose of Designation The property has a future land use designation of
Estates. The Estates designation is characterized by
low density semi-rural residential lots with limited
opportunities for other land uses. Residential
density is limited to a maximum density of one unit
per 2.25 gross acres.
Under the Estates future land use designation there
is no provision for a conditional use and therefore a
conditional use approval requires an amendment to
the GGAMP.
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ZONING
Ordinance or Land Development
Code
Collier County
Zoning E – Estates
Purpose or Intent of Zoning The subject is zoned “E” – Estates District. The
purpose and intent of the Estates district is to
provide lands for low density residential
development in a semi-rural to rural environment.
In addition, several conditional uses including
churches, social and fraternal organizations, child
care centers, private schools, and group care
facilities are available under conditional use
provisions. Permitted uses include single-family
dwellings and Family Care Facilities, and public
schools. Conditional uses permissible in the Estates
district include churches and other places of
worship, social and fraternal organizations, child
and adult care centers, schools and group care
facilities. These conditional uses are strictly
regulated. The subject site satisfies all the
minimum zoning requirements.
Below are the development requirements as set
forth in the Estate Zoning District:
Minimum Lot Area: 98,010 square feet
or 2.25 acres
Minimum Lot Width: 150 feet
Minimum Front Yard Setback: 75 feet minimum
Minimum Side Yard Setback: 30 feet
Minimum Rear Yard Setback: 75 feet
Maximum Building Height: 30 feet
The subject is a legal conforming lot.
Copies of pertinent sections of the Comprehensive Plan and Land Development Code are
included in the Addendum.
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ASSESSMENT AND TAXES
By statute, real estate in Florida is assessed at 100% of fair market value as of January 1st
of the tax year. Since annual tax assessments are based on sales from previous years,
depending upon market trends, assessed values can fall on either side of the current
market value estimate. The tax assessment is usually not a reliable indicator of market
value.
Parcel Tax ID 37493920003
Assessment and Tax Year 2020
Land Assessment $118,750
Improvement Assessment $0
Combined Total Assessment $118,750
10% CAP ($59,313)
AG Exemption $0
Assessed Value $59,437
Taxable Value $0
Ad Valorem Taxes $0 (Tax exempt)
Non- Ad Valorem Taxes $0
Total Taxes $0
Taxing Authority/Jurisdiction Collier County
The total assessment is $23,750 per gross acre. The land assessment is consistent with
other similar parcels along 10th Avenue NE. The assessment is less than my estimate of
market value.
The 2020 total assessment reflects a 3.06% decrease from 2019. The 2020 total assessment
increased 119.77% from the 2019 assessed value. Assessed values can be increased a
maximum of 10% annually and therefore the 10% CAP was applied.
The parcel is owned by a government entity and therefore is tax exempt.
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FLOOD ZONE DATA
Flood Zone X, X500, and AH
Flood Zone Comments Zone X – Areas subject to inundation by the
0.2% annual chance flood with average
flood depths of less than 1 foot or with
drainage areas less than 1 square mile.
Zone X500 – Areas subject to inundation by
the 0.2% annual chance flood with average
flood depths of less than 1 foot or with
drainage areas less than 1 square mile.
Zone AH – Areas of 1% annual-chance
shallow flooding with a constant water-
surface elevation (usually areas of ponding)
where average depths are between 1 and 3
feet. Base flood elevations determined.
Community Panel Number 12021C0430H
Revised May 16, 2012
Source National Flood Insurance Program
Flood Insurance Rate Maps
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TRANSACTIONAL HISTORY
Sales History There have been no transactions in the
previous three years.
CURRENT STATUS
Subject Listed for Sale/Under Contract No
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HIGHEST AND BEST USE
DEFINITION
For typical appraisal practice in the United States, The Dictionary of Real Estate Appraisal,
Sixth Edition, published 2015 by the Appraisal Institute, defines Highest and Best Use as:
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.
METHOD
There are four criteria that must be met in order for a use to be the highest and best use for a
given property. The highest and best use must be:
• Legally permissible.
• Physically Possible.
• Financially feasible.
• Maximally productive.
Ordinarily these criteria are considered sequentially, each step narrowing the range of
alternative uses being considered.
ANALYSIS
SITE AS THOUGH VACANT
Legally Permissible: The zoning ordinance and Growth Management Plan are consistent
in identifying the property for residential uses. The site consists of one oversized parcel
that could be developed with up to two single-family residences.
Physically Possible: The site is level and at road grade and could be developed as one or
two single-family home sites. The location, surrounding land uses, and the size of the
property suggest some type of single-family use.
Financially Feasible: The financial feasibility of single-family residential development is
good. The single-family residential market continues to be strong, especially new
construction. Single-family residential development is financially feasible.
Maximally Productive: The maximally productive use is that it be developed with one or
two single-family residences.
CONSIDERATION OF APPROACHES
Only the sales comparison approach is appropriate for this vacant parcel.
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SALES COMPARISON APPROACH
INTRODUCTION
In the sales comparison approach, the subject property is compared with similar properties
that have sold recently or for which listing prices or offering prices are known. Data from
generally similar properties is used, and comparisons are made to demonstrate a probable
price at which the subject property would sell if offered on the market. This approach is
particularly strong when comparable sales data is plentiful and there is good conformity
among properties in the neighborhood.
Following is the procedure to be followed in developing this approach:
1. Research the market to gather information on sales, listings, and offers to purchase
properties similar to the subject.
2. Verify the information as to factual accuracy and arm's-length market considerations.
3. Identify relevant units of comparison and develop a comparative analysis for each
unit.
4. Compare the subject with comparable sale properties using elements of comparison
and adjust the sale price of each comparable appropriately.
5. Reconcile the various value indicators produced from the analysis of comparables into
a single value indication or a range of values.
The outline above is developed in detail on the following pages.
SALES DATA
A search was made for sales of land comparable to the subject parcel. The intention was to
find comparable sales in similar locations that offer similar functional utility. A total of five
closed sales were identified as the best available for analysis.
Price per gross acre was developed as the unit of comparison, since that is the unit best
suited to the analysis, and the one most often utilized by local buyers, seller, and brokers of
land similar to the subject parcel.
Comparable land sales data is given on the following pages. Each comparable is identified
by a number which will be used for reference throughout the report. Each comparable is
identified on the location map immediately following this page.
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LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES
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VACANT LAND COMPARABLE 01
ADDRESS 557 Wilson Boulevard North, Naples, FL 34120
PROPERTY ID NO. 37118760001
SALE PRICE $187,000
UNIT AREA 5.15 acres
UNIT PRICE $36,311 per acre
DATE OF RECORDING July 31, 2020
O.R. BOOK-PAGE 5797/3378
CONTRACT DATE July 6, 2020
GRANTOR Ken T. Trins
GRANTEE ARDOCH, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES Sold 4/3/14 for $75,000.
LEGAL DESCRIPTION
All of Tract 133, Golden Gate Estates Unit No. 11, according to the map or plat thereof as recorded in Plat Book 4, Pages 103 & 104, Public
Records of Collier County, Florida.
VERIFICATION
Verified with Alonzo Holguin-Bueno, selling agent. He verified the sale price and the arm’s-length nature. The buyer is an owner-user who
plans to construct a single-family residence. The property was listed for $189,000 and was on the market 326 days. The listing price
originally began at $225,000.
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VACANT LAND COMPARABLE 02
ADDRESS 1471 Golden Gate Boulevard W, Naples, FL 34120
PROPERTY ID NO. 37062080002
SALE PRICE $180,000
UNIT AREA 5.15 acres
UNIT PRICE $34,951 per acre
DATE OF RECORDING June 05, 2020
O.R. BOOK-PAGE 5771/3265
CONTRACT DATE May 4, 2020
GRANTOR Dania Mederos Revocable Trust
GRANTEE Windell and Cheryl Elliot
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
All of Tract 33, Golden Gate Estates Unit No. 10, according to the map or plat thereof as recorded in Plat Book 4, Pages 101, Public Records
of Collier County, Florida.
VERIFICATION
Verified with Meiry Abreu, selling agent. She verified the sale price and the arm's-length nature. The property was listed for $180,000 and
was on the market 3 days. Based on a wetlands determination report, there are 0.50 acres of wetlands located on the northern portion of
the lot.
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VACANT LAND COMPARABLE 03
ADDRESS 144 5th Street SW, Naples, FL 34120
PROPERTY ID NO. 37164040005
SALE PRICE $160,000
UNIT AREA 5.00 acres
UNIT PRICE $32,000 per acre
DATE OF RECORDING March 25, 2020
O.R. BOOK-PAGE 5774/143
CONTRACT DATE March 6, 2020
GRANTOR Janet M. Bleeker Revocable Trust
GRANTEE Melvin Noel Guzman Aleman
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
All of Tract 54, Golden Gate Estates Unit No. 12, according to the map or plat thereof as recorded in Plat Book 4, Pages 105 and 106, Public
Records of Collier County, Florida.
VERIFICATION
Verified with Dawn Olitsky, assistant to the listing agent. She verified the sale price and the arm's-length nature. The property was listed
for $169,900 and was on the market 235 days. The buyer plans to subdivide the lot.
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VACANT LAND COMPARABLE 04
ADDRESS 870 8th Street NE, Naples, FL 34120
PROPERTY ID NO. 39260840000
SALE PRICE $167,000
UNIT AREA 5.78 acres
UNIT PRICE $28,893 per acre
DATE OF RECORDING October 26, 2020
O.R. BOOK-PAGE 5835/2647
CONTRACT DATE October 13, 2020
GRANTOR Vincent Medinger
GRANTEE Haven Builders, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
All of Tract 18, Golden Gate Estates Unit No. 49, according to the map or plat thereof as recorded in Plat Book 5, Pages 80 and 81, Public
Records of Collier County, Florida.
VERIFICATION
Verified with Doug Risher, listing agent. He verified the sale price and the arm's-length nature. The property was listed for $179,900 and
was on the market 123 days. The property is encumbered by two canals/drainage easements totaling 72,300 square feet or 1.66 a cres. The
upland acreage of the property is 4.12 acres.
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VACANT LAND COMPARABLE 05
ADDRESS 919 4th Street SE, Naples, FL 34120
PROPERTY ID NO. 37224920007
SALE PRICE $225,000
UNIT AREA 9.78 acres
UNIT PRICE $23,006 per acre
DATE OF RECORDING June 29, 2020
O.R. BOOK-PAGE 5784/1084
CONTRACT DATE June 15, 2020
GRANTOR Stephen Dubina Jr. and Helen Kaiser
GRANTEE Omar Martinez and Boris Espinosa
FINANCING Seller Financing
TOPO-ELEVATION Level and at road grade
GROUND COVER Native vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
All of Tract 72, Golden Gate Estates Unit No. 13, according to the map or plat thereof as recorded in Plat Book 7, Pages 71 and 72, Public
Records of Collier County, Florida.
VERIFICATION
Verified with Bill Duffy, Jr., listing agent. He verified the sale price and the arm's-length nature. The property was listed for $267,500 and
was on the market 112 days. The property is encumbered by a canals/drainage easement totaling 2.12 acres. The upland acreage of the
property is 7.64 acres. Only a small portion of land along the canal is wetlands.
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LAND SALES ADJUSTMENT GRID
ITEM SUBJECT COMP #1 COMP #2 COMP #4 COMP #3 COMP #5
PROPERTY IDENTIFICATION 10th Avenue 557 Wilson 1471 GG 144 5th Street 870 8th Street 919 4th Street
NE Blvd. N.Blvd. W.SW NE SE
SALE PRICE N/A $187,000 $180,000 $160,000 $167,000 $225,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0
CONDITIONS OF SALE Market Market Market Market Market Market
0 0 0 0 0
BUILDING IMPROVEMENTS None None None None None None
0 0 0 0 0
FINANCING Cash or Cash to seller Cash to seller Cash to seller Cash to seller Seller Financing
Equivalent 0 0 0 0 0
ADJUSTED SALE PRICE N/A $187,000 $180,000 $160,000 $167,000 $225,000
Recording Date N/A 07/31/20 06/05/20 03/25/20 10/26/20 06/29/20
Months Prior To Effective Date 11/12/20 3.42 5.26 7.63 0.56 4.47
MARKET CHANGE ADJUSTMENT N/A 2.6%3.9%5.7%0.4%3.4%
ADJUSTED SALE PRICE N/A $191,795 $187,101 $169,152 $167,700 $232,544
Parcel Area in Gross Acres 5.00 5.15 5.15 5.00 5.78 9.78
PRICE PER ACRE ?$37,242 $36,330 $33,830 $29,014 $23,778
LOCATION
ADDRESS 10th Avenue NE Wilson Blvd. N GG Blvd. W 5th Street SW 8th Street NE 4th Ave. NE
CORNER LOT No No Yes No No No
CANAL FRONTAGE Yes No No No Yes Yes
OVERALL LOCATION Average Similar Similar Similar Similar Similar
0%0%0%0%0%
UTILITIES Well & Septic Similar Similar Similar Similar Similar
0%0%0%0%0%
COMP. PLAN Estates Estates Estates Estates Estates Estates
ZONING E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates
0%0%0%0%0%
SIZE IN ACRES 5.00 5.15 5.15 5.00 5.78 9.78
SHAPE/CONFIGURATION Rectangular Similar Similar Similar Similar Similar
0%0%0%0%0%
PHYSICAL CHARACTERISTICS Native Veg.Similar Similar Similar Similar Similar
0%0%0%0%0%
GROSS ADJUSTMENT N/A 0%0%0%0%0%
INDICATION OF UNIT VALUE ?$37,242 $36,330 $33,830 $29,014 $23,778
20.A.6
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DISCUSSION OF ADJUSTMENTS
Usually, comparable sale properties are not exactly like the subject property. If a typical
buyer would perceive the difference to be significant, then adjustment(s) must be made to
the comparable sales so that in the end each offers a realistic indication of value for the
subject. Adjusting comparable sales is a two-step process.
First, adjustments are made so that all of the comparable sales meet the standard of a
“market” transaction as outlined in the definition of market value. Customarily, the first
group of adjustments is made before the comparables are reduced to a common unit of
comparison. Included at this stage are adjustments to bring historic sales current to the
appraisal effective date.
The second group of adjustments is made after an appropriate unit of comparison is chosen.
These adjustments account for physical differences like location, physical characteristics and
size. Sometimes adjustment is required for differences in the permitted land use (zoning) or
in the availability of public service (infrastructure). When the adjustment process is
complete, the unit value indications are reconciled and converted into an estimate of value
for the subject.
REAL PROPERTY RIGHTS CONVEYED
This adjustment category is intended to account for the interest, benefits, and rights
inherent in the ownership of real estate. This category reflects the impact on value caused
by the fee simple versus the leased fee interest or the contract rent as opposed to market
rent.
• None of the comparable sales required adjustment in this category.
CONDITIONS OF SALE
This adjustment category is intended to account for a variety of factors that might affect
the purchase price.
• None of the comparable sales required adjustment in this category.
BUILDING IMPROVEMENTS
This category of adjustment is intended to account for the positive or negative contribution
to value of building improvements included with the sale of the land. Buildings that made
a positive contribution to the sale price require a negative adjustment. Buildings that were
demolished and removed require a positive adjustment to account for demolition costs
which are treated as part of the purchase price.
• None of the comparable sales required adjustment in this category.
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FINANCING
Adjustments in this category are intended to account for unusual terms of financing that
are not considered equivalent to cash or conventional financing.
• None of the comparable sales required adjustment in this category.
MARKET CHANGE
This adjustment is intended to account for changes in value due to the ebb and flow of
market forces over time.
Five recent sales are presented below that have sold and resold over the past two years in
the Golden Gate Estates sub-market. The sales utilized in the report range from less than a
month to over seven months old. A market change rate of 0.75% per month or 9.00%
annually was applied.
LOCATION/ACCESS/EXPOSURE
This category of adjustment reflects the impact on value caused by the advantages or
disadvantages of a given location.
• The subject benefits from canal frontage. I analyzed recent and historic sales of Estates
zoned land along the canal and compared them to non-waterfront parcels. The
premium ranged from almost no difference to as much as 22.13%. Comparables 4 and
5 have canal frontage, but there doesn’t appear to be a premium paid and therefore no
adjustment was warranted.
UTILITIES/INFRASTRUCTURE
This category of adjustment references the availability and adequacy of the road system,
the public was distribution system and the public waste water collection system of each
comparable property as that compares with the same services available to the subject
property.
• None of the comparable sales required adjustment in this category.
Address Parcel ID#Prior Sale Recent Sale Months Prior Sale Price Recent Sale Price Appreciation Monthly Change
2179 Wilson Blvd N 37598880006 06/26/19 07/14/20 12.62 $60,000 $74,500 24.17%1.91%
3161 Wilson Blvd N 37693380003 05/18/18 04/28/20 23.37 $72,000 $80,000 11.11%0.48%
Wilson Blvd N 38500800002 08/20/18 05/31/20 21.37 $45,000 $48,200 7.11%0.33%
22nd St SE 39391680003 02/25/19 05/20/20 14.79 $62,500 $68,500 9.60%0.65%
533 6th St SE 37227120008 04/26/18 03/19/20 22.78 $40,900 $49,900 22.00%0.97%
AVG 0.87%
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COMPREHENSIVE PLAN/LAND USE
This category of adjustment accounts for differences in the potential land uses
(Comprehensive Plan) or in the specific uses (Zoning) to which a property could be
developed. Differences in value between the subject property and comparable sales might
exist because their highest and best uses are different as a result of government regulation
through zoning and land use controls.
• None of the comparable sales required adjustment in this category.
SIZE/SHAPE
This category of adjustment addresses the effect on the marketability of a given property,
because its physical size/shape might limit the physical utility, or because the size and
term of the financial investment required of an investor/speculator is such that the unit
price is reduced.
• None of the comparable sales required adjustment in this category.
PHYSICAL CHARACTERISTICS
This category of adjustment reflects the physical aspects of a property that impact its use
for development. Physical characteristics included land elevation, soil conditions,
drainage characteristics, threatened or endangered plant and animal species on the
property and the extent and density of covering vegetation.
• None of the comparable sales required adjustment in this category.
RECAPITULATION OF DATA
After making the adjustments discussed above, the comparable sales indicated the
following unit values:
Comparables Price Per Upland Acre
of Land Area
1 $37,242
2 $36,330
3 $33,830
4 $29,014
5 $23,778
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RECONCILIATION OF DATA
To arrive at a conclusion regarding the value of the subject, the comparable sales and their
indications of value should be weighted according to the quality of each as a value
indicator.
Comparables 1, 2, and 3 are the strongest indicators of value. They are all recent sales and
very similar to the subject. Comparables 1, 2, and 3 were weighted 25% each.
Comparables 4 and 5 are recent sales of canal front lots, but a substantial portion of land is
encumbered by drainage easements therefore reducing the upland portion of the lot.
Comparable 4 was weighted 15% and Comparable 5 was weighted 10%, due to its larger
size.
The range of unit value indications is from $23,778 to $40,704 per acre. The arithmetic mean
of the five comparables is $32,039 per acre and the median is $33,830 per acre. The
weighted average discussed above yields $33,580 per acre. The average of the three best
comparables is $35,801 per acre.
Based on the range of sales and giving strong consideration to Comparables 1, 2, and 3, I
settled on a unit value of $36,000 per acre.
ESTIMATE OF VALUE
$36,000 per gross acre results in an indication of value for the subject as of November 12,
2020 of $180,000 (5.00 acres x $36,000 per acre).
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
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ADDENDA
(In Order of Appearance)
Page Topic Count Page(s) Page(s)
Assumptions and Limiting Conditions............................................................................ 2
Zoning.................................................................................................................................... 4
Future Land Use................................................................................................................... 4
Qualifications of Appraiser................................................................................................. 2
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ASSUMPTIONS AND LIMITING CONDITIONS
The certification of the appraiser appearing in this report is subject to the following
assumptions and limiting conditions.
ACCEPTANCE OF AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES
ACCEPTANCE OF ALL GENERAL AND EXTRAORDINARY ASSUMPTIONS AND
LIMITING CONDITIONS.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
None
HYPOTHETICAL CONDITIONS
None
GENERAL ASSUMPTIONS AND LIMITING CONDITIONS
1. No responsibility is assumed for the legal description or for matters including legal or title
considerations. Title to the property is assumed to be good and marketable.
2. The property is appraised free and clear of liens and encumbrances.
3. Responsible ownership and competent property management are assumed.
4. The information furnished by others is assumed to be true, correct and reliable. A
reasonable effort was made to verify such information, but the appraiser bears no
responsibility for its accuracy.
5. All engineering is assumed to be correct. The plot plans and illustrative material is
included only to assist the reader in visualizing the property.
6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or
structures that render it more or less valuable. No responsibility is assumed for such
conditions or for arranging for engineering studies that might be required to discover
them.
7. It is assumed that there is full compliance with all applicable federal, state, and local
environmental regulations and laws.
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8. It is assumed that the property is either in compliance with, or is "grandfathered" or
"vested" under, all applicable zoning, use regulations and restrictions.
9. It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any local, state, or national government or
private entity or organization have been, or can be, obtained or renewed for any use on
which the value estimate is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries or
property lines of the property described, and that there is no encroachment or trespass.
11. It is assumed that the subject site and improvements are not contaminated by any
hazardous material or toxic substance. During the property inspection we were sensitive
to obvious signs of contamination and we reported anything unusual. However, we are
not qualified to render professional opinions regarding the existence or the nature of
hazardous materials in or on the subject property. If a definitive opinion is desired, then
the client is urged to retain an expert in the field.
12. The distribution of the total value in this report, between land and improvements, applies
only under the stated program of utilization. The separate allocations for land and
buildings must not be used in conjunction with any other appraisal and are invalid if so
used.
13. Possession of this report, or a copy thereof, does not carry with it the right of publicat ion.
14. Unless previous arrangements were made, the appraisers, by reason of this appraisal, are
not required to give further consultation, testimony, or to be in attendance in court.
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B. 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.
1. The following subsections identify the uses that are permissible by right and the uses that are allowable
as accessory or conditional uses in the estates district (E).
a. Permitted uses.
1. Single-family dwelling.
2. Family care facilities, subject to section 5.05.04
3. Essential services, as set forth in section 2.01.03
4. Schools, public, including "Educational plants."
b. Accessory Uses.
1. Uses and structures that are accessory and incidental to uses permitted as of right in the (E)
district.
2. Fruits, vegetables, and nursery plants grown for both personal consumption and off -site retail
sale, such as farmer's markets. Farm operations that grow fruits, vegetables, and nursery
plants for off-site retail sale shall be subject to LDC section 5.02.00 Home Occupations, as
amended, and the following standards:
i. Farm operations shall not occupy more than 50 percent of the lot.
ii. Farm operations shall conform to minimum setbacks established in LDC sections 2.03.01
B.2 and 4.02.01 A. Table 2.1, however, no side, rear or front setbacks are required
greater than 30 feet.
iii. Vegetation removal for farm operations shall be subject to LDC section 3.05.05 F, as
amended.
3. Keeping of fowl or poultry, not to exceed 25 in total number, provided such fowl o r poultry are
kept in an enclosure located a minimum of 30 feet from any lot line, and a minimum of 100
feet from any residence on an adjacent parcel of land.
4. Keeping of horses and livestock (except for hogs), not to exceed two such animals for each
acre, and with no open feedlots. Any roofed structure for the shelter and feeding of such
animals shall be a minimum of 30 feet from any lot line and a minimum of 100 feet from any
residence on an adjacent parcel of land.
i. Notwithstanding the above, hog(s) may be kept for a 16 week period in preparation for
showing and sale at the annual Collier County Fair and/or the Immokalee Livestock
show. The following standards shall apply:
a) One hog per child enrolled in a 4-H Youth Development Program, Collier County
Fair Program or similar program is permitted. In no case shall there be more than 2
hogs per acre.
b) Premises shall be fenced and maintained in a clean, healthful, and sanitary
condition.
c) Premises or roofed structure used for the sheltering, feeding, or confinement of
such animals shall be setback a minimum of 30 feet from lot lines and a minimum
of 100 feet from any dwelling unit on an adjacent parcel of land.
d) Hog(s) shall not be returned to the property once removed for showing and/or sale.
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Packet Pg. 664 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
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5. One guesthouse, subject to section 5.03.03
6. Recreational facilities that serve as an integral part of a residential development and have
been designated, reviewed and approved on a site development plan or preliminary
subdivision plat for that development. Recreational facilities may include but are not limited
to golf course, clubhouse, community center building and tennis facilities, parks, playgrounds
and playfields.
7. Excavation and related processing and production subject to the following crit eria:
i. These activities are incidental to the permitted used onsite.
ii. The amount of excavated material to be removed from the site cannot exceed 4,000
cubic yards total. Amounts in excess of 4,000 cubic yards shall require conditional use
approval for earth mining, pursuant to the procedures and conditions set forth in section
10.08.00
c. Conditional uses. For Estates zoning within the Golden Gate Estates subdivision, the Golden
Gate Area Master Plan in the GMP restricts the location of conditional uses. The following uses
are permissible as conditional uses in the estates district (E), subject to the standards and
procedures established in section 10.08.00
1. Churches.
2. Social and fraternal organizations.
3. Child care centers and adult day care centers.
4. Schools, private.
5. Group care facilities (category I); care units, subject to the provisions of subsection 2.03.01
B.3.f; nursing homes; assisted living facilities pursuant to § 400.402 F.S. and ch. 58A-5
F.A.C.; and continuing care retirement communities pursuant to § 651 F.S. and ch. 4 -193
F.A.C.; all subject to section 5.05.04.
6. Group care facilities (category II) care units subject to section 5.05.04 only when tenancy of
the person or persons under care would not:
i. Constitute a direct threat to the health or safety of other individuals;
ii. Result in substantial physical damage to the property of others; or
iii. Result in the housing of individuals who are engaged in the current, illegal use of or
addiction to a controlled substance, as defined in section 802 of title 21, U.S. Code.
7. Extraction or earthmining, and related processing and production not incidental to the
development of the property subject to the following criterion and subsection 4.02.02 C.
i. The site area shall not exceed 20 acres
8. Essential services, as set forth in subsection 2.01.03 G.
9. Model homes and model sales centers, subject to compliance with all other LDC
requirements, to include but not limited to section 5.04.04
10. Ancillary plants.
d. Prohibited uses.
1. Owning, maintaining or operating any facility or part thereof for the following purposes is
prohibited:
i. Fighting or baiting any animal by the owner of such facility or any other person or entity.
ii. Raising any animal or animals intended to be ultimately used or used for fighting or
baiting purposes.
iii. For purposes of this subsection, the term baiting is defined as set forth in F.S. §
828.122(2)(a), as it may be amended from time to time.
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Packet Pg. 665 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
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2. Minimum yard Requirements. See subsection 4.02.01 A. Table 2.1 for the general requirements. The
following are exceptions to those requirements:
a. Conforming Corner lots. Conforming corner lots, in which only one full depth setback shall be
required along the shorter lot line along the street. The setback along the longer lot line may be
reduced to 37.5 feet, so long as no right-of-way or right-of-way easement is included within the
reduced front yard. (See Exhibit A)
b. Nonconforming Corner lots. Nonconforming corner lots of record, in which only one full depth
setback shall be required along the shorter lot line along the street. The setback along the longer
lot line may be reduced to 15 feet, so long as no right-of-way or right-of-way easement is included
within the reduced front yard. (See Exhibit B)
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Packet Pg. 666 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
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c. Nonconforming through lots, i.e. double frontage lots, nonconforming lots of record with
double road frontage, which are nonconforming due to inadequate lot depth, in which case, the
front yard along the local road portion shall be computed at the rate of 15 percent of the depth of
the lot, as measured from edge of the right-of-way.
i. The nonconforming through lot utilizing the reduced frontage shall establish the lot
frontage along the local road only. Reduced frontage along a collector or arterial roadway to
serve such lots is prohibited. Front yards along the local road shall be developed with
structures having an average front yard with a variation of not more than six feet; no
building thereafter erected shall project beyond the average line so established.
d. Nonconforming lots of record, which are nonconforming due to inadequate lot width, in which
case the required side yard shall be computed at the rate of ten (10) percent of the width of the lot.
(Ord. No. 06-63, § 3.C; Ord. No. 07-67, § 3.C; Ord. No. 08-11, § 3.D; Ord. No. 08-63, § 3.C; Ord. No. 10-23,
§ 3.E; Ord. No. 12-38, § 3.B; Ord. No. 13-56, § 3.B; Ord. No. 14-40, § 2.A)
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Packet Pg. 667 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
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Carroll & Carroll
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Packet Pg. 668 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
5556B Report Addenda
Carroll & Carroll
20.A.6
Packet Pg. 669 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
5556B Report Addenda
Carroll & Carroll
20.A.6
Packet Pg. 670 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
5556B Report Addenda
Carroll & Carroll
20.A.6
Packet Pg. 671 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
5556B Report Addenda
Carroll & Carroll
20.A.6
Packet Pg. 672 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)
5556B Report Addenda
Carroll & Carroll
20.A.6
Packet Pg. 673 Attachment: Appraisal for Transportation 5 acres Unit 18, Tract 55 (16047 : Golden Gate Estaes Land Trust Committee)