GGELTC Agenda 12/13/2021A G E N D A
Golden Gate Estates Land Trust Committee
Monday, December 13, 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 - RESIGNED
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 Meeting Minutes from September 20, 2021
4. Approval of Treasurer’s Report – Not available
5. Property Sale Appraisal Approval for Saadeh
Parcel ID 41824360008
The W 180 feet of Tract 53, Unit No.95,
Parcel
3.92 acres
Property Appraiser’s Value: $372,400
Appraiser’s Value: $455,000
6. Property Sale Appraisal Approval for Saadeh
Parcel ID 37289560004
All of Tract 127, Golden Gate Estates, Unit No. 14
Phase I, Parcel 8,
5.77 acres
Property Appraiser’s Value: $129,105
Appraiser’s Value: $163,000
20.1.b
Packet Pg. 284 Attachment: Agenda - December 13, 2021 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
7. Property Sale Appraisal Approval for Saadeh
Parcel ID 37445840005
All of Tract, 89, Golden Gate Estates, Unit No. 17
Phase I, Parcel 13
4.62 +/- acres
Property Appraiser’s Value: $124,840
Appraiser’s Value: $180,000
8. Property Sale Appraisal Approval for Saadeh
Parcel ID 39271840002
All of Tract 126, Golden Gate Estates, Unit No. 49
Phase I, Parcel 54
5.61 +/- acres
Property Appraiser’s Value: $131,860
Appraiser’s Value: $185,000
9. Property Sale Appraisal Approval for Saadeh
Parcel ID 40749320001
The East 75 Feet of The East 150 Feet of Tract 116, Golden Gate Estates, Unit No. 78,
Phase II, Parcel 45
1.17 +/- Acres
Property Appraiser’s Value: $47,840
Appraiser’s Value: $39,000*
*Property Appraiser assessed property as 2.34 since this is the folio with two parcels assigned to it. If assessed value is
divided by 2, Property Appraiser’s value should be $23,920
10. Elections
11. Other Business
12. Public Comment
13. Next meeting – February 2022 – To be determined
20.1.b
Packet Pg. 285 Attachment: Agenda - December 13, 2021 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
M I N U T E S
Golden Gate Estates Land Trust Committee
Monday, September 20, 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 - absent
Member: Annette Kniola
Member: Angela Birks -absent
Member: Jessica Harrelson
County Staff
Michael Dowling: Collier County Real Property Management
___
1. Call to order: Jeff called the meeting to order at 5:40 p.m.
2. Approval of current agenda: Jeff asked if there were any changes or questions to the Agenda,
there were none. Jeff called for a motion to approve the Agenda as presented. Annette made a
motion to approve the Agenda as submitted, Jessica seconded the motion, Jeff called the
vote, all were in favor.
3. Approval of the Meeting Minutes from May 24, 2021: Jeff asked if there were any changes or
questions to the Minutes, there were none. Jeff called for a motion to approve the Minutes as
presented. Jessica made a motion to approve the Minutes as submitted, Annette seconded the
motion, Jeff called the vote, all were in favor.
4. Approval of Treasurer’s Report: Jeff asked if there were any changes or questions to the
Treasurer’s Report, there were none. Jeff called for a motion to approve the Treasure’s Report
as presented. Annette made a motion to approve the Treasurer’s Report as submitted, Jessica
seconded the motion, Jeff called the vote, all were in favor.
5. Property Sale Appraisal Approval for Harrington
Parcel ID 40749320001
The East 75 Feet of the West 180 Feet of Tract 116, Unit 78 - 1.17 acres
Property Appraiser’s Value: $47,840
Appraiser’s Value: $36,500
Jessica questioned the lot split, and Michael explained that GAC deeded that to the County
that way. Michael said that the new owner will be assembling the subject parcel to his current
parcel and will then fall under one folio number. Jessica questioned if there was a cost
associated with that process and Michael said he contacted the Property Appraiser’s Office
20.1.c
Packet Pg. 286 Attachment: Minutes from September 20, 2021 Meeting (draft) (20843 : Golden Gate Estates Land Trust Committee - December 2021)
and determined there was no charge. Michael said that the owner will be responsible for
assembling the parcels. Jeff questioned that the Appraiser discounted the value because of the
cost to assemble the parcels. However, after hearing Michael’s explanation that there is no
cost for that, Jeff said he would approve the appraisal if it’s corrected to show that there is no
cost for assembling the parcels and the Appraiser’s value of $39,000 should be the asking
price of the property. Michael said he would speak to the Appraiser regarding the discounted
value and that the assemblage would be of no cost to the buyer and to revise the appraisal
value. With that, Jeff called for a motion to approve the appraisal based on the revised value.
Jessica made a motion to approve, Annette seconded, Jeff called for the vote, all were in
favor.
6. Consideration of Jeff Curl’s application for expiring term: Jeff called for a motion to approve
Jeff’s application for BCC consideration. Annette made a motion to approve, Jessica
seconded it, Jeff called for the vote, all were in favor.
7. Other Business: None
8. Public Comment: None
9. Next meeting – November 2021 – To be determined
Meeting adjourned 6:50 p.m.
________________________________________________________, December 13, 2021
Jeffrey Curl, Chairman
20.1.c
Packet Pg. 287 Attachment: Minutes from September 20, 2021 Meeting (draft) (20843 : Golden Gate Estates Land Trust Committee - December 2021)
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Vacant Land Appraisal Report
XXXX Teak Wood Dr. (no site address)
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20.1.d
Packet Pg. 288 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
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 ofthe comparable sales from at least the street, (4) research, verify, and analyze data
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 VATUE: 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 interes| (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.
20.1.d
Packet Pg. 289 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Summary of lmportant Data Conclusions
PropertylD 41824360008
Address No Site Address, Teak Wood Dr. Naples 341 '19
Legal GGE Unit95 W180ftofTR 53 OR 1257 PG 794-803
Lot Size 3.92 acres (Property Appraiser)
Lot Shape Rectangular
Lot Utility Buildable, H & B Use Residential
Zoning Estates Zoning, Vacant Land
Owner Collier County Government
Buyer
Client GAC Land Trust
lntended Users Collier County & GAC Land Trust
Current Use Treed Vacant Land
Date of Appraisal 'lOl15l2O21
Date of Appraisal Report 1011812021
lnterest Appraised Fee Simple, Market Value
Appraised Value "as is" $470,000
20.1.d
Packet Pg. 290 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
The Subject Property
Estates ZoninB
P.It l No a182,t360o08
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Packet Pg. 291 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Area Location Map
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Pinc Ridg. Rd Pine Ridg. Rd
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20.1.d
Packet Pg. 292 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Current Real Estate Market Trends
Naples Market Trends
$s69,900 $281/Sqtt 770
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Octob.r 2@1 , .dr!P!!d ro ta69,O@ in 2O2q up 2l* F-.ff-
N!d.3, FL is . rlLr'. m*n in Octob.r 2O2l which lun! thlt
th.r..ro lB. p.opL looti.t to buy rt n rtd. .r. hofil.! mit.ble
Vacant land lots for sale
4248 lstAve NW Naples, FL 2.27ac 5420,000
4792 11th Ave SW Naples, FL 2.50ac 5450,000
740 13th ST Nw Naples, FL 2.27ac 5250,000
XXXX 21't St NW Naples, FL 5.00ac 5650,000
2050 Moulder Dr. Naples, tL 4.78ac 5399,000
Xxx 27th St Sw Naples, FL 5.00ac S800,000
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20.1.d
Packet Pg. 293 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Sales Market Valuation
The subject property consists of 3.92 +l- acres, located on Teak Wood Dr. off Logan Blvd.
The current for sale listings prices in this market area is $2OO,OOO to $7800,000 dollars with an average
being $460,000 for lots being 4 acres or larger.
Comparable closed sales in the market area.
1. 81740000062 4.56ac(2 lots) sold for $570,000 in June of 2021.
486'l Mahogany Dr. sold for $125,000 per acre, no adjustments, results in $i25,000ac
2. 38280680005 3.76ac sold for $415,000 in June ol 2020.
4861 Mahogany Dr. sold for $1 10 ,372 per acre adjusted 5% for Mkt, results in $1 1 6,000ac
3. 56340000028 2.83ac sold for $425,000 in Nov. of 2020.
5381 Mahogany Dr. sold for $150,177 per acre. Minus '15% for sales concession, results 9128,000ac
4. 41827200107 2.81ac sold for $300,000 in May of2021.
5226 Cherry Wood Dr. sold for $106,762 pet acre, add 10% for location, results in $117,500ac
5. 41829440004 2.81ac sold for $290,000 in June of 2021.
0000 Cherry Wood Dr. sold for $103,203 per acre, add 10% for location, results in $1 13,500ac
Reconciliation of the market data.
Taking into consideration the above adjusted sales market data, the average of this sales data is $120,000
per acre for the subject property.
The subject property is 3.92ac +/-, the per acre unit value in this market area is 9120,00ac
3.92ac x $120,00 is $470,400 dollars.
20.1.d
Packet Pg. 294 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Subject property
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Packet Pg. 295 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
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Packet Pg. 296 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
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20.1.d
Packet Pg. 297 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
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 of the subject property or that he or she beca me 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.
APPRAISER'S CERTIFICATION:
The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal
in accordance with the scope of work requirements stated in this appraisal report.
2. I performed a complete visual inspection ofthe interior and exterior areas ofthe subject property. I
reported the condition of the improvements in factual, specific terms. I identified and reported the
physical deficiencies that could affect the livability, soundness, or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the Uniform Standards of
ProfessionalAppraisal Practice that were adopted and promulgated by the AppraisalStandards Board of
The Appraisal Foundation and that were in place at the time this appraisal report was prepared.
4. I developed my opinion of the ma rket value of the real property that is the subject of this report
based on the sales comparison approach to value. I have adequate comparable market data to develop
a reliable sales comparison approach for this appraisal assignment. lfurther certify that I considered the
cost and income approaches to value but did not develop them, unless otherwise indicated in this
repo rt.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraise/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 legal 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.
20.1.d
Packet Pg. 298 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject
property, any offering for sale of the subject property in the twelve months prior to the effective date of
this appraisal, and the prior sales ofthe subject property for a minimum ofthree years prior to the
effective date of this appraisal, unless otherwise indicated in this report.
6. I researched, verified, analyzed, and reported on the prior sales ofthe comparable sales for a
minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this
repo rt.
7. I have not knowingly withheld any significant information from this appraisal report and, to the best
of my knowledge, all statements and information in this appraisal report are true and correct. 15. I
stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and
conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report.
8. I have no present or prospective interest in the property that is the subject ofthis report, and I have
no present or 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 opinion of market value in this appraisal
report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of
either the prospective owners or occupants of the subject property or of the present owners or
occupants of the properties in the vicinity of the subject property or on any other basis prohibited by
law.
9, My employment and/or compensation for performing this appraisal or any future or anticipated
appraisals was not conditioned on any agreement or understandinB, written or otherwise, that I would
report (or present analysis supporting) a predetermined specific value, a predetermined minimum value,
a range or direction in value, a value that favors the cause of any party, or the attainment of a specific
result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan
application).
10. I personally prepared all conclusions and opinions about the real estate that were set forth in this
appraisal report. lf I relied on significant real property appraisal assistance from any individualor
individuals in the performance of this appraisal or the preparation of this appraisal report, I have named
such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any
individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal reporu therefore, any change made to this appraisal is unauthorized and lwill
take no responsibility for it.
20.1.d
Packet Pg. 299 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
APPRAISf,R'S CERTIFICATION: Thc Appraisg ce.tifies and !tl6 rhar:
l. lhave rcserchcd the srbJe.l n,artd arca and halve seteci.d r tninimum ofthfte recenr st.s ofproDeni* m*l simitar atrd
Proxnnare Io rhe subjecr prcFrrv for consid€Erion in the sales comparison matysis and hav. made a dolle sdjusrn. when
appropria(e to r.flecl th. marketrocuq to lhosc irems ofsiSnificanr vuiaiion. ifa siFific.nt item in a comparabte prog€rry is
superi.. ro o. more favorable rhan, rt' subjcd prop€n-v I have made. ncSaiveadjushc ro rcduce rhe adjured sat6 price of
tlle cornparablc and, ifa sierilicanr irdr nr a comporable prope'u- is rnf.rior lo. or t6s favorabte rlan tle subjed prop.rry. I have
Dade a posiliv. ad.irnneni to i.lHse c adjrsled sates price ofth. compeable
2 l havelaken tnlo consdemiotr lh. fa.lors thal have an,rrpacr on value in my developm. otthe estimar. ofmarket vatu.in
rhe appr.isal r.i,on. r haye nor xnow inelv wnhhetd anv sienificsnr infor,nario, nomrheappEisal repon and I betreve, to the
best ofmy tnowledgc, rhat all sratemenrs and infomation in lhe appraietrepon are lruc.n.l con€ct.
I Israled (hcapprais.l repon onl) rny ovr peBonat, unbiased, and professionutsnatlsis, opinios. md conclusrons.
rhich; de subje.t qly rorhe conlinlr.'nr.nd timittrgcondnims specifi.d in rlis form
4 lhav.nopre*nr,rp.osyc.tiv.nrc,: i. thc propenl har is rhe subjecl tolh,s repon, and l hrvc noprexnL or
prospective lcrsona, urtcie!! or biai airh respe.r ro rhe panicipanrs in the hDsacrion. I drd,ror base. eirterpani.Iy or
complerelv, nrv aDrrvsn and.r rhe e''rmare otma*el valne in rhe app.isar repon on rhe race, color. retigion, se\, handicap,
famrlal sr^n$, u ,,atii,ril qifir .I errl., r|e prospective owners or occupants ofrhe subjcci propeny or ofrh. presenl owners
or oc.tPant ofllrc pronr,:ies,- llt v rir/ (flh€ srbject prop€ny
5 I lrav. n, . ,.:rnr ' .,r;iem:ila('d li,,ue i '.eresr rn the subjrcr property, ed neilher my (Jnor or tutue cmptoyment no,
rDy comp.ne,ioq ti) p.ir'oi!,ing ilisapi,r $t t.oDlingor on th€ appEised vatueof lhe propen.r-
6 I was nor requrred ro rcpon a pred.rmnind varu€ d dircoion in varue thar hvoB rhe cat.€ of ri*crror or any rcrarcd
parc ih,ra'hr,r:,,irtre.ari,r6r.,rr.,rircatainmenrofasperificrcsut!orrheGorenceofasubseqrenrevenrnorderto
receiv, my c.'npmir,!d ai,,l ao' c.ptoyD^nl ioi perfoming th. appraist I did not bas€ tbe appraisatrepon on a rcqu.sted
,nrni .D vr.'r ala.:. a stE.ili. ,6rrE,ion o. th. ren to approve a sp€cific nrongrge l@
T lperfo,ntd rhs arprajsaln..(.fonDirv Bflh rhe unifom srandards ofprofessional AppraNalftlcnce thai were adopred
a.d iBrmrlBired bj rlE Appraisal Stand.rds ttoard oftle Appnisat Foundation mdftar weJe in ptaceas oflheenirriyc date of
thrr apFailar w h thc.\ception of tie d.p.nu!. provision ofrhos. Slatrda.ds, ehich do6 nol rppty Ilck owt.d$ rhat an
6rimare ofa rras.abl, rime tor expGur. in rhe open mekel .s a condirion in rhedefinirion of ma*d vatue and $e 6rimare I
d.velop€d is (on$:x$l $ith rh€ martenngtiDe nored in the neighbo ood secrion ofihis rep(rl. unless I have olhe is. nat.d in
lf 3 rrllndlatron se.tror
8llnvcp$solallyrnspeledtheime.iorandexreno.m6olrhe$Djelpropertyandrl,eexrenorofarpropen,.strste.las
.o'npeables irr lhc appraisal repon I tunher ceniry rhar I hrv€ nored any appeenl o. known adv6s. conditions in rhe subj.ci
improvem.nrs, on rhe subjecr sr*, or oo atrv sire wirhin rhe i,mediare viciniry otfic subjd prop.ny ofwtuch I arn.*!reaod
have made adjrsrnenG for rhese adve& condinonsrtr my malysis ofrheproperty value ro$..xrmr ftar I rad marter evidocc
r., suppo.t &4, I havc a lso commenred ah.r rh€ efred ofrheadvcrse condiiionson fie nra*dabiliry oarh€ subjed prop(rry
(' I lI isonali, !r.pa .d all con.luiions and opinrons abort rhe rcal cslare lhar were set fonh ii the appraist relon. tftrclic.i
on significnnr pro,'crsi rala$islaNe fiun anv individ@l or individuak in ihe perfomance ofrhc appmistor die prepararion of
the app.aisal r.Pon. l llave named such
'ndividual(s) aod disclosed thc spccific lsts perfonn€d by thcm in the r€conciliarion
sect;on oi lhis .ppmrsal repo.r lcerritv rh.r any individuate namcd is qualifted ro p€rfonn rhc lasks I have nor authorizcd
dr) one ro n,s*e s rhao|c ro an) irem in rhe rer,on: rhereforc, ifan nnauhorized changc is trr.dc ro rh€ rppraisat repon. t wiu ra\e
no respoos,bilrrt io. it
sl,P[R!]S()RY APP|a,\ISER,S ('IRI lI l( ATION: Ifa superriso.y appraiser signed d]e appra.al repon, he or slrc c.niries
ar,d agrees lhar Idirecrly supervis rbe apprater who prepared rhe appraisalrepon, rave revtewed rl'e app.aisar reporr, a8ree
Rith rhe stairments aM conclusioos ofrhe appmivr, agree ro be boutrd by rhe app.iseis cenificalionr nnmbered 4lh,o(gh 7
abovr itrd an) ra\i g firr' responr,hiliry fo. ttre appraisat andttre apprarsatrepon
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20.1.d
Packet Pg. 300 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
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20.1.d
Packet Pg. 301 Attachment: Teak Wood Drive Appraisal October 2021 - signed (20843 : Golden Gate Estates Land Trust Committee - December 2021)
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Vacant Land Appraisal Report
XXXX 8th ST NE Naples, FLg412O. (no site address)
20.1.e
Packet Pg. 302 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
SCOPE OF WORK: The scope of work for th is appraisal is defined by the complexity of th is
appraisal assignment and the reporting requirements of this appraisal report form, including
the followinB 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 exteriorareas ofthe subject property, (2)inspect the neithborhood, (3) inspect
each of the comparable sales from at least the street, (4) research, verify, and analyze data
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 flnance 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 brinB in a
competitive and open market under all condition's requisrte 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 oftitle 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
marketj (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 propeny sold unaffected by special or creative financing or sales concessions+ granted by
anyone associated with the sale.
20.1.e
Packet Pg. 303 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Summary of lmportant Data Conclusions
PropertylD 37289560004
Address No Site Address, 8th St NE. Naples 34120
Legal GGE Unit 14 TR 127 OR 1257 PG 794 - 803
Lot Size 4.53 +/- acres (Property Appraiser)
Lot Shape Rectangular shape backed to canal
Lot Utility Buildable, H & B Use Residentiat
Zoning Estates Zoning, Vacant Land
Owner Collier County Government
Buyer
Client cAC Land Trust
lntended Users Collier County & GAC Land Trust
Current Use Treed Vacant Land
Date of Appraisal 1113012021
Date of Appraisal Repotl 1'll3Ol2O21
lnterest Appraised Fee Simple, Ma.ket Value
Appraised Value "as is" $163,000
20.1.e
Packet Pg. 304 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
The Subject Property
PFI l.o t7#aGa tnAai-aEIE tr.ot, ,uDrE
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Estates Zoning
,on
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alte a5293 il/atlg
20.1.e
Packet Pg. 305 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Area Location Map
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Arr Dolls Bv D.bElA
Bery al Eliy com Y
20.1.e
Packet Pg. 306 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Area Market Trends
at,t--tarr"---. r'-_t.rj
\v s300K
s200K
oec 20.16 Jun 2019 Dec 2019 Jun 2020 Dec 2020 Jun AOZ1
Sale-to-List Price Ratio: 100%
Homes in Golden Gate Estates sold for approrimately t asking price on average in october
2021 .
Balanced Seller
Golden Gate Estates is a seiler's ma in October 2021, which means that
there are more people looking to buy than there are homes available.e
Median Days on Ma : 53 Days
'l Yr 2Yr 3Yr
125 days
100 days
75 days
50 days
on average, homes in Golden Gate Estates sell after 53 days on the market- The trend for
median days on market in Golden Gate Estates has gone down since last month, and slightly
down since last year.
Buyer
20.1.e
Packet Pg. 307 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
All of Naples Market Trends
r4,566
t 3_967
16,298
t4t.91Z
$
t8r8.203
t22.BA
1,005
47t.537.
o.74
4D.94'.r.
20.oo0
r6,000
1900,000
laoo,ooo
3700,000
1600,00o
3500,ooo
s400,ooo
t300.ooo2Cr9
Clored S.lerI
t2,000
8,OOO
4.O00
0
12 MONTH NEW LISTING AND
CLOSEO SALES
,2 MONTH AVERAGE
SALES PRICE
20t5 2016 2017 2018 2019 2020 20.21
I A*r.g. 5.1.t Prke
7 201A
SUMMARY
20.1.e
Packet Pg. 308 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Sales Market Valuation
The subject property consists of 4.53 +l- acres, located on 8th St NE Naples, 34120.
The cunent lots for sale in this market area range in price from $100,000 to $35O,OOO dollars for various
size acreages.
Comparable closed sales in the market area.
1. 39260840000 5.78ac sold for$167,000 in Oct of 2020.
0000 8th St NE. sold for 929,000 per acre, no adjustments, results in $29,000ac
2. 37448260OOG 2.57ac sold for 990,000 in March of 2021.
'1341 16th ST NE. sold for $35,000 per acre, no adjustments, results in $35,000ac.
3. 37397080007 2.g2acsold for$100,000 in Juty. ot 2020.
000 16th Ave NE. sold for $34,250 per acre, add So/o for market time, results in $36,000ac
4. 40570200002 5.83ac sold for $160,000 in March ol 2020.
2330 14th Ave NE. sold for $27,500 per acre, add 1Oo/o for market time, results in $30,000ac
5. 37397440100 2.35ac sold for 9125,000 in October of 2020.
2207 10th Ave NE. sold for $53,191 per acre, add 5% market time, minus 1O% for size, results in
$50,500ac.
Reconciliation of the market data.
Taking into consideration all of the above adjusted sales market data, the closed sales adjusted average is
considered for the subject property, the result is $36,100 rounded to $36,000 per acre.
The subject property is 4.53ac +1, the per acre unit value in this market area is g36,oooac
4.53ac x $36,000 is $163,000 dollars.
R.oIr kEsdRT:AC
Sr. Rai6 AFrig
F.olin Bo{d, R..lAlrltr
33!5 TciEi Tnil E S- l0l
Nela,E 31112 E! B1212.262l
20.1.e
Packet Pg. 309 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Subject Property and Comparable sales pictures
Subject property
r
t
x
20.1.e
Packet Pg. 310 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Comp 2
t-
Comp 3
20.1.e
Packet Pg. 311 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Comp 4
II Comp 5
20.1.e
Packet Pg. 312 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
STATEMENT OF ASSUMPTIONS AND tlMlTlNG CONDITIONS: The appraise/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 legal 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 of the 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.
APPRAISER'S CERTIFICATION:
The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal
in accordance with the scope of work requirements stated in this appraisal report.
2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I
reported the condition of the improvements in factual, specific terms. I identified and reported the
physical deficiencies that could affect the livability, soundness, or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the uniform standards of
Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of
The Appraisal Foundation and that were in place at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report
based on the sales comparison approach to value. I have adequate comparable market data to develop
a reliable sales comparison approach for this appraisalassignment. I further certify that I considered the
20.1.e
Packet Pg. 313 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
cost and income approaches to value but did not develop them, unless otherwise indicated in this
re po rt.
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject
property, any offering for sale of the subject property in the twelve months prior to the effective date of
this appraisal, and the prior sales of the subject property for a minimum of three years prior to the
effective date of this appraisal, unless otherwise indicated in this report.
5. I researched, verified, anaiyzed, and reported on the prior sales of the comparable sales for a
minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this
report.
7. I have not knowlngly withheld any significant information from this appraisal report and, to the best
of my knowledge, all statements and information in this appraisal report are true and correct. 16. I
stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and
conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report.
8. I have no present or prospective interest in the property that is the subject of this report, and I have
no present or 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 opinion of market value in this appraisal
report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or natlonalorigin of
either the prospective owners or occupants of the subject property or of the present owners or
occupants of the properties in the vicinity of the subject property or on any other basis prohibited by
law.
9. My employment and/or compensation for performing this appraisal or any future or anticipated
appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would
report (or present analysis supporting) a predetermined specific value, a predetermined minimum value,
a range or direction in value, a value that favors the cause of any party, or the attainment of a specific
result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan
application).
10. I personally prepared all conclusions and opinions about the real estate that were set forth in this
appraisal report. lf I relied on significant real property appraisal assistance from any individualor
individuals in the performance of this a ppraisal or the preparation of this appraisa I report, I have named
such individual(s) and disclosed the specific tasks performed in this appraisal report. I certiry that any
individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and lwill
take no responsibility for it.
20.1.e
Packet Pg. 314 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Ron DeSantis. Governor
H alsey Beshears, Secretary
STATE OF FLORIDA
Do not alter this document in any form.
This is your license. lt is unlawful for anyone other than the licensee to use this document.
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
FLORIDA REAI. ESTATE APPRAISAL BD
THE CERTIFIED RESIDENTfAU APPRA|g,TER HEREf N.TS,GERT|FtED UNDER THE
EXPIRATION DATE:' NOVEMBER 30, 2022
Always verify licenses online at MyFloridaLicense.com
20.1.e
Packet Pg. 315 Attachment: ID# 37289560004 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Nt\N\s$-
Vacant Land Appraisal Report
XXXX 10b Ave NE Naples, FL 341 20. (no site address)
20.1.f
Packet Pg. 316 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this
appraisal assignment and the reporting requirements ofthis appraisal report form, including
the following definition of market value, statement of assumptions and limiting conditions, and
certiflcations. The appraiser must, at a minimum: (1) perfo.m a complete visual inspection of
the interior and exterior areas ofthe subject property, (2) inspect the neighborhood, (3) inspect
each of the comparable sales from at least the street, (4) research, verify, and analyze data
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 thts appraisal for a mortgage finance transaction.
INTENDEO I,JSER: The intended user ofthis 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 oftitle from seller to buyer under conditions whereby: (1) buyer and seller are typically
motivatedj (2) both parties are well informed or well advised, and each acting in what he or she
considers his or her own best interesu (3) a reasonable time is allowed for exposure in the open
marketj (4) payment is made in terms of cash in U. S. dollars or in terms of financial
arranBements comparable thereto; and (5) the price represents the normal consideration for
the propeny sold unaffected by special or creative financing or sales concessions* granted by
anyone associated with the sale.
20.1.f
Packet Pg. 317 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Summary of lmportant Data Conclusions
PropertylD 37445840005
Address No Site Address, l0t'Ave. Naples 34120
Legal ccE Unit lT TR 89 OR 1257 PG 794- 803
Lot Size 5.00 +/- acres (Property Appraiser)
Lot Shape Rectangular shape backed to canat
Lot Utility Buildable, H & B Use Residential
Zoning Estates Zoning, Vacant Land
Owner Collier County Government
Buyer
Client GAC Land Trust
lntended Users Collier County & cAC Land Trust
Current Use Treed Vacant Land
Date of Appraisal 1113012021
Date of Appraisal Repon !ll3il2|21
lnterest Appraised Fee Simple, Market Value
Appraised Value "as is" $180,000
20.1.f
Packet Pg. 318 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
The Subject Properly
h?1S.
lcrS
Estates Zoning
Ptrc.l I\b tT4a5Saooog glAddE
'Dld-r,
taur/Addu ([)UJERCi{TY
C'O iIAL PR(rBTY T.III.AGTTEI{T
ltls TAXtAtt TR q SIf 101
Sh.Clt MPIES Str.Zo0.:ilrfr 3alm
tlra. Ft Zp Y112
Irrhlp i..tlt lil Sfthid
4t275
Or, MDt.et
Srp No. S.Gda
Btmt'tcls 35
1.0.1 6OLOg{ cArEE lt{lT l,rI19()I l2l7 pE,9a-S!
m.lr.AE!-o 2to
9|D./Ce.tde llr0oo - GOIOE{ 6Alt EsT UNIT t7
lJr. C.d.a 83 - COU]tnES ll{CUrDll{G M}t-f,Ul.lctptl GOV.
MnbFlEa .C.t dd6
SdFel Odu Tobl
,1.389 a7r9t ll.aStl
20.1.f
Packet Pg. 319 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
z+:
2i tNW :
Area Location Map
,rzyyzZv_2i22_-;iAEG22:illE.t€aE
z
+lrh Av. E
12rh
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rlE V:
;t!BHPuu!.,/ehAvEsE aaln;-;22Ht : i n i a ! 5 L..lbl I Pow.rld R EE I Univ.n4 oa Sodn flai,r Coonu orcolt Esi HERE G.min tNCttEMENT p NGA USGS
20.1.f
Packet Pg. 320 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Area Market Trends
S30OK
s200K
0€c 201E Jun 2019 Dec 2019 Jun 2020 Dec 2OZO Jun ZOZ.I
Sale-to-List Pdce Ratio: 100%
Homes in Golden Gate Estates sold for approximately the asking price on average in October
2021
SellerIr
Golden Gate Estates is a seller'e ma in October 2021, which means that
there are more people looking to buy than there are homes available.e
Median Days on Ma t: 53 Days
lYr 2Yr 3Y1
'125 days
100 dEys
75 days
50 da!,s
D€c 2018 Jun 2019 D€c 2019 Jun 2020 Dec 2020 Jun 2021
on average, homes in Golden cate Estates sell after 53 days on the market. The trend for
median days on market in Golden Gate Estates has gone down since last month, and slightly
down since last year.
Buyer Balanced
20.1.f
Packet Pg. 321 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
All of Naples Market Trends
t4,566
+3.962
$
$8r8,203
.422.231.
r,005
47t53L
0.74
179.94r
I2 MONTH AV€RAGE
SALES PRICE
20,000
t6.oo0
t900,ooo
tao0,ooo
$700.oo0
1600,ooo
t500.ooo
3400,ooo
1300.oo0
Cloied 5rl.!I
z,16 2or, 20t8
NrrLidn3l I
21 2015 2016 2017 2018 20t9 2020
I Av.r.g. s.l6 Pn<.
@
r6298
t4r.911
12 MONTH NElV LISTING AND
CLOSED SALES
SUMMARY
2021, ilrYfirory rtood.t l,0OS unir whiL moithr of lpy'y rm.74 monrha-
20.1.f
Packet Pg. 322 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Sales Market Valuation
The subject property consists of 5.0 +/- acres, located on 1oth Ave NE Naples, 34120.
The cunent lots for sale in this market area range in price from $1OO,OOO to $350,000 dollars for various
size acreages.
Comparable closed sales in the market area.
1. 39260840000 5.78ac sold for$167,000 in Oct of 2020.
0000 8th St NE. sold for $29,000 per acre, no adjustments, results in $29,000ac
2. 37 448260006 2.57 ac sold for $90,000 in March ol 2021.
1341 16th ST NE. sold for $35,000 per acre, no adjustments, results in $35,000ac.
3. 37397080007 2.92ac sold for $100,000 in Juty. of 2020.
000 16th Ave NE. sold for $34,250 per acre, add 5% for market time, results in $36,000ac
4. 4057O2OOO02 5.83ac sold for $160,000 in March of 2020.
2330 14th Ave NE. sold for $27,500 per acre, add jOo/o for market time, results in $30,000ac
5. 37397440100 2.35ac sold for $125,000 in October ol ZO2O.
2207 10b Ave NE. sold for $53,191 per acre, add 5% market time, minus 1Qo/o lor size, results in
$50,500ac.
Reconciliation of the market data.
Taking into consideration all of the above adjusted sales market data, the closed sales adjusted average is
considered for the subject property, the result is $36,100 rounded to $36,000 per acre.
The subject property is 5.Oac +/-, the per acre unit value in this market area is g36,000ac
5.0ac x $36,000 is $180,000 dollars..
20.1.f
Packet Pg. 323 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Subject Property and Comparable sales pictures
Subject property
IL
fl"r
20.1.f
Packet Pg. 324 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
20.1.f
Packet Pg. 325 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Comp 4
Comp 5
20.1.f
Packet Pg. 326 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
cost and income approaches to value but did not develop them, unless otherwise indicated in this
re po rt.
5. I researched, verified, analyzed, and reported on any current aBreement for sale for the subject
property, any offering for sale ofthe subject property in the twelve months prior to the effective date of
this appraisal, and the prior sales of the subject property for a minimum of three years prior to the
effective date of this appraisal, unless otherwise indicated in this report.
5. I researched, verified, analyzed, and reported on the prior sales ofthe comparable sales for a
minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this
re po rt.
7. I have not knowingly withheld any significant information from this appraisal report and, to the best
of my knowledge, all statements and information in this appraisal report are true and correct. 16. I
stated in this appraisal report my own personal, unbiased, and professionalanalysis, opinions, and
conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report.
8. I have no present or prospective interest in the property that is the subject of this report, and I have
no present or 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 opinion of market value in this appraisal
report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or nationalorigin of
either the prospective owners or occupants of the subject property or of the present owners or
occupants of the properties in the vicinity of the subject property or on any other basis prohibited by
law.
9. My employment and/or compensation for performing this appraisal or any future or anticipated
appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would
report (or present analysis supporting) a predetermined specific value, a predetermined minimum value,
a ranBe or direction in value, a value that favors the cause of any party, or the attainment of a specific
result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan
application).
10. I personally prepared all conclusions and opinions about the realestate that were set forth in this
appraisal report. lf I relied on significant real property appraisal assistance from any individualor
individuals in the performance of this appraisal or the preparation of this appraisal report, I have named
such individual(s) and disclosed the specific tasks performed in this appraisal report. tcertify that any
individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and lwill
take no responsibility for it.
20.1.f
Packet Pg. 327 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraise/s certification in this report
is subject to the following assumptions and limiting conditions:
L. The appraiser will not be responsible for matters of a legal 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 of the subject property or that he or she beca me aware of d uring the research
involved in performing this appraisal. Unless otherwise stated in this appraisalreport, 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.
APPRAISER'S CERTIFICATION:
The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal
in accordance with the scope of work requirements stated in this appraisal report.
2' I performed a complete visual inspection of the interior a nd exterior areas of the subject property. I
reported the condition of the improvements in factual, specific terms. I identified and reported the
physical deficiencies that could affect the livability, soundness, or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the uniform standards of
Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of
The Appraisal Foundation and that were in place at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report
based on the sales comparison approach to value. I have adequate comparable market data to develop
a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the
20.1.f
Packet Pg. 328 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
20.1.f
Packet Pg. 329 Attachment: ID# 37445840005 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
'st\N\s$-
Vacant Land Appraisal Report
XXXX 14th ST NE Naples, FL34120. (no site address)
20.1.g
Packet Pg. 330 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this
appraisalassignment and the reporting requirements ofthis appraisalreportform, 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 ofthe comparable sales from at least the street, (4) research, verify, and analyze data
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 shoutd 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
passine of title from seller to buyer under conditions whereby: (1) buyer and seller are typically
motivatedj (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
marketj (4) payment is made in terms of cash in U. S. dollars or in terms of financial
arranBements 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.
20.1.g
Packet Pg. 331 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Summary of lmportant Data Conclusions
Property lD 392718/,0002
Address No Site Address,'l4th St NE, Naples 34120
Legal GGE unit 49 TR t26OR1257PG794-BO3
Lot Size 5.61 +/- acres (Property Appraiser)
Lot Shape Rectangular shape backed to canal
Lot Utility Buildable, H & B Use Residential
Zoning Estates Zoning, Vacant Land
Owner Collier County Government
Buyer
Client GAC Land Trust
lntended Users Collier County & cAC Land Trust
Current Use Treed Vacant Land
Date of Appraisal 1210112021
Date of Appraisal Repotl 1210112021
lnterest Appraised Fee Simple, Market Value
Appraised Value "as is" $185,000
20.1.g
Packet Pg. 332 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
The Subject Property
HN.3n7ta'a@il gr.A..trShhr 9r. Ot, tr^rt"Es 3rza:f,r! ,ar20
Arr R 21p Y112
Estates Zoning
H
F
F;
I
I
n-r/rdaa @tuil,OITY
lfl IihrEl
ta'ag
48tguM
20.1.g
Packet Pg. 333 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Area Location Map
A&edo D c.srro9
I
I
;i
-RasLrr.d.d IgnedrenEd LLc
Fr6d(s Pahtrng9
s.orrPe{orm€nc€9 ......
B & I ElrndsP Qro ^*o
*o.," i
tlffltPt9::fi9
a
af;t
ei
ll
lrt
a.At eu,a.nQ
. awag$6qt0npnv6G
o.nrarrnnr.ln/tl i.. L.{ Voo99E daycarcand
rrahhqrontV
20.1.g
Packet Pg. 334 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Area Market Trends
s300K
S2OOX
Dec 2018 .firn 2019 Dec 2019 Jun 2020 Dec 2020 Jun Z0Z1
-
Median Listing Home Price --- Me{ien Home Sold Price
Sale-to-List Price Ratio: 100%
Homes in Golden Gate Estates sold for approximately t asking price on average in october
2021 .
Balanced Seller
I
Golden Gate Estates is a seller's marltet in October 2021, which means that
there are more people looking to buy than there are homes available.e
Median Days on Market: 53 Days
'I Yr 2Yr 3Yr
125 dars
100 days
75 days
50 days
D€c 2018 Jun 2019 0€c ?019 Jun 2020 Dec 2020 Jun 2021
median days on markel in Golden Gate Estates has gone down since last month, and slightly
down since last year.
Buyer
20.1.g
Packet Pg. 335 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
All of Naples Market Trends
12 MONTH NEW LISTING AND
CLOSED SALES
12 MONTH AVERAGE
SALES PRICE
r-t
lsoLo I
t6,298
t4t_91?
I t\ ". t,,,"+ lcs:,1',:les I a,= .E. s" ", P,,."
SUMMARY
W-,th 16,298 FoFti.r rold, uhr reo ,rp 4l.9ll ovrr th pmcodq 12.monrh Fiod wh.n t1,485 proFrda rrr. roU. N. hti{i
2021, invcntory rtood rt I,OO5unitr whilc mooth of rrpy'y rrr.74 mmrhr.
20.1.g
Packet Pg. 336 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Sales Market ValuaUon
The subject property consists of 5.61ac +/- acres, located on 14th St NE Naples, 34120.
The cunent lots for sale in this market area range in price from $100,000 to $35O,OOO dollars for various
size acreages.
Comparable closed sales in the market area.
1 . 39260840000 5.78ac sold for $1 67,000 in Oct of 2020.
0000 8rh St NE. sold for $29,000 per acre, no adjustments, results in $29,000ac
2. 37 448260006 2.57 ac sold for $90,000 in March of 2021.
1341 16th ST NE. sold for $35,000 per acre, no adjustments, results in $35,000ac.
3. 37397080007 2.92ac sold for $100,000 in July. ot 2020.
000 16th Ave NE. sold for $34,250 per acre, add 5% for market time, results in $36,OOOac
4. 40570200002 5.83ac sold for $160,000 in March of 2020.
2330 14b Ave NE. sold for $27,500 per acre, add 10% for market time, results in $30,000ac
5. 392675600082.73ac sold for $100,000 in June of2021.
79114th St NE sold for $36,630 per acre, no adjustments, results in $36,600ac.
Reconciliation of the market data.
Taking into consideration all of the above adjusted sales market data, the closed sales adjusted average is
considered for the subject property, the result is $33,320 rounded to $33,000 per acre.
The subject property is 5.61ac +i-, the per acre unit value in this market area is 933,000ac
5.61ac x $33,000 is $185,130 rounded to $185,000 dollars.
20.1.g
Packet Pg. 337 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Subject Property and Comparable sales pictures
Subject property
20.1.g
Packet Pg. 338 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Comp 2
20.1.g
Packet Pg. 339 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Comp 4
rllr
20.1.g
Packet Pg. 340 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraise/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 legal 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 of the 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 environmentalconditions, 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.
APPRAISER'S CERTIFICATION:
The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal
in accordance with the scope of work requirements stated in this appraisal report.
2. I performed a com plete visual inspection of the interior a nd exterior areas of the subject property. I
reported the condition of the improvements in factual, specific terms. I identifled and reported the
physical deficiencies that could affect the livability, soundness, or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the Uniform Standards of
Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of
The Appraisal Foundation and that were in place at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report
based on the sales comparison approach to value. I have adequate comparable market data to develop
a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the
20.1.g
Packet Pg. 341 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
cost and income approaches to value but did not develop them, unless otherwise indicated in this
re po rt.
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject
property, any offering for sale of the subject property in the twelve months prior to the effective date of
this appraisal, and the prior sales ofthe subject property for a minimum ofthree years priorto the
effective date of this appraisal, unless otherwise indicated in this report.
6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a
minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this
report.
7. I have not knowingly withheld any significant information from this appraisal report and, to the best
of my knowledge, all statements and information in this appraisal report are true and correct. 16. I
stated in this appraisal report my own personal, unbiased, and professionalanalysis, opinions, and
conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report.
8, I have no present or prospective interest in the property that is the subject of this report, and I have
no present or 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 opinion of market value in this appraisal
report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of
either the prospective owners or occupants of the subject property or of the present owners or
occupants ofthe properties in the vicinity of the subject property or on any other basis prohibited by
law.
9. My employment and/or compensation for performing this appraisal or any future or anticipated
appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would
report (or present analysis supporting) a predetermined specific value, a predetermined minimum value,
a range or direction in value, a value that favors the cause of any party, or the attainment of a specific
result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan
application).
10. I personally prepared all conclusions and opinions about the realestate that were set forth in this
appraisal report. lf I relied on significant real property appraisal assistance from any individual or
individua ls in the performance of this a ppraisa I or the preparation of this a ppraisa I report, I have named
such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any
individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal reporu therefore, any change made to this appraisal is unauthorized and I will
take no responsibility for it.
20.1.g
Packet Pg. 342 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Ron DeSantis, Governor
Halsev Beshears, Secretary
STATE OF FLORIDA
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Do not alter this document in any form.
This is your license. lt is unlawful for anyone other than the licensee to use this document.
EXPIRATION DA-|E: NOVEMBER 30. ZO22
Always verify licenses orrline at MyFloridaLicense.com
20.1.g
Packet Pg. 343 Attachment: ID# 39271840002 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
,[L\N\S$
Vacant Land Appraisal Report
)fi)(x Golden Gate Blvd E, FL 34120. (no site address)
20.1.h
Packet Pg. 344 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this
appraisal assignment and the reporting requtrements ofthis appraisalreportform, 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 rnspection of
the interior and exterior areas ofthe subject property, (2) inspect the neighborhood, (3) inspect
each ofthe comparable sales from at least the street, (4) research, verify, and analyze data
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 th is appraisal for a mortgage finance transaction
INTENDED USER: The intended user ofthis appraisal report is the lender/client.
DEFINITION OF MARKET VAIUE: 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 oftitle from seller to buyer underconditions whereby: (1)buyer and seller are typically
motivatedj (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
marketj (4) payment is made in terms of cash in U. S. dollars or in terms of financial
arranBements 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.
20.1.h
Packet Pg. 345 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Summary of lmportant Data Conclusions
Property lD 40749320001
Address No Site Address, Golden cate Blvd E. Naples 34t20
Legal GGE Unit 78 E 75ft of W 180ft + E75ft ofTR 116
The legal is temp only, lot will be split into two 1.,t 7ac lots
Lot Size 2.34 +/- acres (Property Appraiser before the split)
Lot Shape Rectangular shape
Lot Utility Buildable, H & B Use Residential if allowed
Zoning Estates Zoning, Vacant Land
Owner Collier County Government
Buyer
Client GAC Land Trust
lntended Users Collier County & GAC Land Trust
Current Use Treed Vacant Land
Date of Appraisal 1210212021
Date of Appraissl Reporl 'l2lo2l2o21
lnterest Appraised Fee Simple, Market Value
Appraised Value "as is" $39,000
20.1.h
Packet Pg. 346 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
The Subject Property
P.rc.l No ,lo7/l9l200o l
Itl./ lddrG COUrm C|ITY
C/O REAI PiOPEiTV I'AI{A6E EI{T
lltS TAl ,a t TR e sIE 101
City NAPLES
M.p Nc.
4lr(x
Skrp No,
!4,0000 I15 ,*Xl,l 1 19
L.grl GOTOEN GATE EST UNrT ,8 E75FT OF WI UrFT + ETSFT OF TR 115
Futur. l..nd Ur (rtu)
Zp ,1112
lnlg. lo.. :ElErfd
2A 2.y
Sit Addr6t
'Dird.im.r 9rt Cfty NAruS
Itt Ft
S.<doi Townrhlp
Sit Zonc
'l{ot
l,lbrrr-io|l
tI,T,P.
DEiFadt
ES
Estrt!. DGing.don
IEf
cfl! .> EX
20.1.h
Packet Pg. 347 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
,._a Haa GJF Ll[d E
Area Location Map
+
CrHen fule Blri E
20.1.h
Packet Pg. 348 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
All of Naples Market Trends
14,566
03.96U
r6:98
t4t.9rl
$
3818,203
122.237.
1,005
a7t.53Z
o.71
479.947.
12 MONTH NEW
CLOSED
LISII NG AND
SALES
12 MONTH AVERAGE
SALES PRIC E
20,o00
r6,000
r2,oo0
8,OO0
4,OOO
0
t900,oo0
l8OO,OO0
3700,ooo
i600,ooo
3500,ooo
1400,000
t300,ooo,
I
, 20la 20D 2020
I Oot d $br
2015 2015 2017 201a 2019 2020
I A"...t s"ro P,i<.
SUMMARY
Wth 16,298 Fop.rli6 told, rrlcr rrr up 41.917 orr thc prcccdiag l2-month p..in whn llr85 Fogrrtier virc roU. Nr* lirtirgr
wrn down 3.961. from 15,167to 14,566.Illr *engo ula pricr wo up 22.23?, Fom i569.400 ro tBl82O3.Ar of O<rober 3l,
2021, inv.itory 3tood.t l,OO5uniti whiL hooth: of rpply war -74 monrhr.
20.1.h
Packet Pg. 349 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Area Market Trends
s300K
s200K
oec 2018 Jun 2019 Dec 2019 Jun 2020 Dec 2020 Jun 2021
Sale-to-List Price Ratio: 100%
Homes in Golden Gate Estates sold for ap ximately the asking price on average in October
2021 .
Balanced Ir
Golden cate Estates is a sellerb ma in October 2021, which means that
there are more people looking to buy than there are homes available.lt
Median Days on Market: 53 Days
lYr zYt 3Yr
125 days
100 da),s
75 days
50 days
oec 2018 Jun 2019 Dec 2019 Jun 2020 Dec 2020 Jun 202t
On average, homes in Golden Gate Estates sell after 53 days on the market. The trend for
median days on market in Golden Gate Estates has gone down since last month, and slightly
down since last year.
Buyer Seller
:
20.1.h
Packet Pg. 350 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Sales Market Valuation
Comparable Market Data
independentlv.
First we will look at sold 'l .14 acre lots in this market area.
1. 40747560009 1.14ac soldfor$33,800inMarch ot2021 .
2. 407513200022.27ac sold for $40,000 in June of 2021.
3. 40744080003 1.14ac sold for $42,500 in February of2021.
The average price per lot is $38,766 or say 939,000 per lot. The subject property consists of two
buildable lots 1 .1 7ac each, however there is no cost with splitting the lots, therefore the $39,000
will not be adjusted.
Next we will look at sold 2.34 acre lots in this market area.
1. 40752280002 2.81ac soldfor$70,000inMarch ol 2021.
2. 40526920103 2.50ac sold for $99,000 in Jan ol 2021.
3. 40688440000 2.27ac sold for $65,000 in July of2021.
The average price for a 2.34ac lol is $78,000. The subject property consists of two buildable lots
1.17ac each, however the lots are combined totaling 2.34ac therefore the value of $39,000 for
the subject property is substantiated by the value of the 2.34ac lots being $78,000.
The subject property is valued at $39,000 for the I .17ac lot..
20.1.h
Packet Pg. 351 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Subject Property and Comparable sales pictures
Subject property
20.1.h
Packet Pg. 352 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Comp 2
Comp 3
20.1.h
Packet Pg. 353 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraise/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 legal 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 of the 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 deflciencies 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 appraisalreport must not be considered as an environmental
assessment of the property.
APPRAISER'S CERTIFICATION:
The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal
in accordance with the scope of work requirements stated in this appraisal report.
2. I performed a complete visua I inspection of the interior a nd exterior areas of the subject property. I
reported the condition of the improvements in factual, specific terms. I identified and reported the
physical deficiencies that could affect the livability, soundness, or structural integrity of the property.
3. I performed this appraisal In accordance with the requirements of the Uniform Standards of
ProfessionalAppraisal Practice that were adopted and promulgated by the Appraisal Standards Board of
The Appraisal Foundation and that were in place at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report
based on the sales comparison approach to value. I have adequate comparable market data to develop
a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the
cost and income approaches to value but did not develop them, unless otherwise indicated in this
re po rt.
20.1.h
Packet Pg. 354 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject
property, any offering for sale of the subject property in the twelve months prior to the effective date of
this appraisal, and the prior sales of the subject property for a minimum of three years prior to the
effective date of this appraisal, unless otherwise indicated in this report.
6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a
minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this
report.
7. I have not knowingly withheld any significant information from this appraisal report and, to the best
of my knowledge, all statements and information in this appraisal report are true and correct. 15. I
stated in this appraisal report my own personal, unbiased, and professlonal analysis, opinions, and
conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report.
8. I have no present or prospective interest in the property that is the subject of this report, and I have
no present or 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 opinion of market value in this appraisal
report on the race, color, religion, sex, age, marital status, handicap, familial status, or nationalorigin of
either the prospective owners or occupants of the subject property or of the present owners or
occupants of the properties in the vicinity of the subject property or on any other basis prohibited by
law.
9, My employment and/or compensation for performing this appraisal or any future or anticipated
appraisals was not conditioned on any agreement or understanding, written or otherwise, that lwould
report (or present analysis supporting) a predetermined specific value, a predetermined minimum value,
a range or direction in value, a value that favors the cause of any party, or the attainment of a specific
result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan
application).
10. I personally prepared all conclusions and opinions about the realestate that were set forth in this
appraisal report. lf I relied on significant real property appraisal assistance from any individual or
indlviduals in the performance of this appraisalorthe preparation of this appraisal report, I have named
such individual(s) and disclosed the specific tasks performed in this appraisal report. lcertitr/ that any
individualso named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and lwill
take no responsibility for it.
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Packet Pg. 355 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)
Ron DeSantis, Governor
Halsey Beshears, Secretary
STATE OF FLORIDA
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Do not alter this document in any form.
This is your license' lt is unlawful for anyone other than the licensee to use this document.
EXpt RATtoN DATei', r.tovEr.,|Een 30, 2d.
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20.1.h
Packet Pg. 356 Attachment: ID# 40749320001 (20843 : Golden Gate Estates Land Trust Committee - December 2021)