Agenda 04/12/2022 Item #16A15 (Purchase Sidewalk Easement Parcel 492SWE for Naples Manor Sidewalks)04/12/2022
EXECUTIVE SUMMARY
Recommendation to approve an agreement for the purchase of a perpetual, non-exclusive sidewalk
easement (Parcel 492SWE) necessary for the construction of a public sidewalk for the Naples
Manor Sidewalks (Project 60228.7). Estimated Fiscal Impact: $11,155. The source of funds is the
Infrastructure Surtax Fund (318), Project 60228.
OBJECTIVE: To purchase an easement parcel needed for construction of a public sidewalk for the
Naples Manor Sidewalks - Warren Street Project (Project 60228.7) (the Project).
CONSIDERATIONS: Collier County is undertaking sidewalk improvements along Warren Street from
St. Andrews Boulevard to Carolina Avenue, in the Naples Manor area. The Project will enhance public
safety by constructing new sidewalks where none exist, thereby keeping pedestrians off the grass and
roadway. The County is seeking to purchase Parcel 492SWE, a 429 square foot triangular shaped parcel
located in the eastern corner of a parent tract owned by Yolanda Jimenez on Warren Street, needed for
construction of the Project. The attached appraisal report, dated November 12, 2021, prepared by Rachel
Zucchi of RKL Appraisal and Consulting shows the appraised value of the parcel is $6,200. The attached
agreement reflects a negotiated full compensation amount of $8,180 plus attorney's fees of $2,475. Staff
recommends that the Board of County Commissioners (the Board) approve the agreement. If this parcel
is not acquired by negotiation, it will have to be condemned and the County will become liable for
payment of additional attorney and expert fees and costs that will far exceed the difference between the
appraised value and the negotiated compensation amount.
FISCAL IMPACT: The fiscal impact associated with this item is estimated not to exceed $11,155,
being the negotiated amount of $8,180, attorney's fees of $2,475 and miscellaneous closing fees not to
exceed $500. The funding source for the acquisition is Infrastructure Surtax Fund (318) Project 60228.
Voters approved an additional one percent Infrastructure Sales Surtax in 2018, and the Warren Street
sidewalk project was identified as a priority sidewalk be the Infrastructure Surtax Citizens Oversight
Committee.
LEGAL CONSIDERATIONS: This item has been approved as to form and legality and requires a
majority vote for Board approval. - JAB
GROWTH MANAGEMENT IMPACT: This recommendation is consistent with the Collier
Metropolitan Planning Organization's Comprehensive Pathways Plan and is included in Collier County's
Five -Year Transportation Work Program. Additionally, voters approved an additional one percent
Infrastructure Sales Surtax in 2018, and the Warren Street sidewalk project was identified as a priority
sidewalk be the Infrastructure Surtax Citizens Oversight Committee.
I�CK� a ►]�i � I �1►17��7►F
Approve the attached easement agreement and authorize the Chairman to execute same on behalf of
the Board;
Accept the conveyance of Parcel 492SWE and authorize the County Manager, or his designee, to
record the conveyance instrument in the public records of Collier County, Florida;
Authorize the payment of all costs and expenses that Collier County is required to pay under the
terms of the easement agreement to close the transaction;
Authorize the County Manager or his designee to take the necessary measures to ensure the County's
performance in accordance with the terms and conditions of the purchase agreement; and
Authorize any and all budget amendments that may be required to carry out the collective will of the
Board.
Prepared By: Karen Dancsec, Property Acquisition Specialist, ROW, Transportation Engineering
Packet Pg. 786
04/12/2022
Division.
ATTACHMENT(S)
1. Purchase Agreement 492SWE (PDF)
2. Location Map 492SWE (PDF)
3. [LINKED] Appraisal 492SWE (PDF)
Packet Pg. 787
16.A.15
04/12/2022
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.A.15
Doe ID: 21462
Item Summary: Recommendation to approve an agreement for the purchase of a perpetual, non-
exclusive sidewalk easement (Parcel 492SWE) necessary for the construction of a public sidewalk for the
Naples Manor Sidewalks (Project 60228.7). Estimated Fiscal Impact: $11,155. The source of funds is
the Infrastructure Surtax Fund (318), Project 60228.
Meeting Date: 04/12/2022
Prepared by:
Title: Property Acquisition Specialist — Transportation Engineering
Name: Karen Dancsec
03/04/2022 9:49 AM
Submitted by:
Title: Division Director - Transportation Eng — Transportation Engineering
Name: Jay Ahmad
03/04/2022 9:49 AM
Approved By:
Review:
Transportation Engineering
Robert Bosch
Additional Reviewer
Growth Management Department
Jeanne Marcella
Growth Management Department
Growth Management Operations Support
Raquel Ovares
Growth Management Department
Anthony Khawaja
Additional Reviewer
Growth Management Department
Gene Shue
Additional Reviewer
Transportation Engineering
Jay Ahmad
Additional Reviewer
Transportation Engineering
Chad Sweet
Additional Reviewer
Road Maintenance
Gerald Kurtz
Additional Reviewer
Facilities Management
Jennifer Belpedio
Level 2 Attorney of Record Review
Growth Management Department
Trinity Scott
Transportation
Office of Management and Budget
Debra Windsor
Level 3 OMB Gatekeeper Review
County Attorney's Office
Jeffrey A. Klatzkow Level 3 County Attorney's Office Review
Office of Management and Budget
Susan Usher
Additional Reviewer
County Manager's Office
Dan Rodriguez
Level 4 County Manager Review
Board of County Commissioners
Geoffrey Willig
Meeting Pending
Completed
03/04/2022 10:29 AM
Completed
03/04/2022 4:23 PM
Additional Reviewer
Completed
Completed
03/10/2022 2:51 PM
Completed
03/11/2022 12:28 PM
Completed
03/14/2022 1:15 PM
Completed
03/16/2022 9:00 AM
Completed
03/16/2022 5:28 PM
Completed
03/17/2022 8:59 AM
Completed
03/18/2022 5:07 PM
Completed
03/21/2022 8:32 AM
Completed
03/21/2022 3:33 PM
Completed
04/04/2022 10:46 AM
Completed
04/05/2022 8:28 AM
04/12/2022 9:00 AM
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16.A.15. a
PROJECT: 99999 — Naples Manor Sidewalk
PARCEL: 492SWE
FOLIO: 62200800006
EASEMENT AGREEMENT
THIS EASEMENT AGREEMENT (hereinafter referred to as the "Agreement") is made
and entered into on this day of 2022, by and between YOLANDA
JIMENEZ, a married person, whose mailing address is 5413 Warren Street, Naples, FL
34113 (hereinafter referred to as "Seller"), and COLLIER COUNTY, a political subdivision
of the State of Florida, whose mailing address is 3299 Tamiami Trail East, c/o the Office of
the County Attorney, Suite 800, Naples, FL 34112 (hereinafter referred to as "Purchaser").
WHEREAS, Purchaser requires a perpetual non-exclusive sidewalk easement
(hereinafter referred to as the "Easement") over, under, upon and across the lands described
in Exhibit "A" (hereinafter referred to as the "Property"), which is attached hereto and made
a part of this Agreement; and
WHEREAS, Seller desires to convey the Easement to Purchaser for the stated
purposes, on the terms and conditions set forth herein; and
WHEREAS, Purchaser has agreed to compensate Seller for conveyance of the
Easement subject to the terms and conditions set forth herein.
NOW THEREFORE, in consideration of these premises, the sum of Ten Dollars
($10.00), and other good and valuable consideration, the receipt and sufficiency of which is
hereby mutually acknowledged, it is agreed by and between the parties as follows:
RECITALS - All of the above recitals are true and correct and are hereby expressly
incorporated herein by reference as if set forth fully below, and all Exhibits referenced
herein are made a part of this Agreement.
2. PURCHASE PRICE - Seller shall convey the Easement to Purchaser for the sum of
$8,180.00
payable by County Warrant, subject to the apportionment and distribution of proceeds
pursuant to Paragraph 9 of this Agreement. Purchaser also agrees to pay Seller's
attorney's fees of $2,475.00, payable by County Warrant to NJ Law PLLC (said
transaction hereinafter referred to as the "Closing"). Said payments shall be full
compensation for the Easement conveyed, including (if applicable) all landscaping,
trees, shrubs, improvements, and fixtures located thereon, and shall be in full and final
settlement of any damages resulting to Seller's remaining lands, costs to cure,
including, but not limited to, the cost to relocate the existing irrigation system and other
improvements (if any), and the cost to cut and cap irrigation lines (if any) extending
into the Easement, and to remove all sprinkler valves and related electrical wiring (if
any), and all other damages in connection with conveyance of said Easement to
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Purchaser, including all business damages, attorneys' fees, expert witness fees and
costs as provided for in Chapter 73, Florida Statutes.
3. CLOSING DOCUMENTS AND CLEAR TITLE - Seller shall obtain from the holders of
any liens, exceptions and/or qualifications encumbering the Property the execution of
such instruments which will remove, release or subordinate such encumbrances from
the Property upon their recording in the public records of Collier County, Florida. Prior
to Closing and as soon after the execution of this Agreement as is possible, Seller shall
provide Purchaser with a copy of any existing title insurance policy and the following
documents and instruments properly executed, witnessed, and notarized where
required, in a form acceptable to Purchaser (hereinafter referred to as "Closing
Documents"):
(a) Sidewalk Easement;
(b) Instruments required to remove, release or subordinate any and all liens,
exceptions and/or qualifications affecting Purchaser's enjoyment of the
Easement;
(c) Closing Statement;
(d) Affidavit of Title;
(e) W-9 Form; and
(f) Such evidence of authority and capacity of Seller and its representatives to
execute and deliver this agreement and all other documents required to
consummate this transaction, as reasonably determined by Purchaser,
Purchaser's counsel and/or title company.
4. TIME IS OF THE ESSENCE - Both Seller and Purchaser agree that time is of the
essence. Therefore, Closing shall occur within ninety (90) days of the date of execution
of this Agreement or within thirty (30) days of Seller's receipt of all Closing Documents,
whichever is the later. This agreement shall remain in full force and effect until Closing
shall occur, until and unless it is terminated for other cause. At Closing, payment shall
be made to Seller in that amount shown on the Closing Statement as "Net Cash to the
Seller."
5. IRRIGATION SYSTEM AND MISCELLANEOUS IMPROVEMENTS - Seller agrees to
relocate any existing irrigation system located on the Property including irrigation lines,
electrical wiring and sprinkler valves, etc. (if any), prior to the construction of the project
without any further notification from Purchaser. Purchaser assumes full responsibility
for the relocation of the irrigation system (if any) on the remainder property and its
performance after relocation. Seller holds Purchaser harmless for any and all possible
damage to the irrigation system in the event Seller fails to relocate the irrigation system
prior to construction of the project.
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16.A.15.a
Page 3
If Seller elects to retain improvements and/or landscaping ("Improvements") located on
the Property (if any), Seller is responsible for their retrieval prior to the construction of
the project without any further notification from Purchaser. Seller acknowledges that
Purchaser has compensated Seller for the value of all improvements located within the
Easement area, and yet Purchaser is willing to permit Seller to salvage said
improvements as long as their retrieval is performed before construction and without
interruption or inconvenience to the Purchaser's contractor. All improvements not
removed from the Property prior to commencement of construction of the project shall
be deemed abandoned by Seller.
This provision shall survive Closing and is not deemed satisfied by conveyance of title
6. CONSTRUCTION REQUIREMENTS — Purchaser shall install a culvert/storm drain and
minor drainage structures in the public right of way fronting the Property. Additionally,
Purchaser shall reset the brick pavers on the driveway and install new sod after
completion of construction of the sidewalk and culvert/storm drain.
7. MISCELLANEOUS REQUIREMENTS - Seller and Purchaser agree to do all things
which may be required to give effect to this Agreement immediately as such
requirement is made known to them or they are requested to do so, whichever is the
earlier.
8. REPRESENTATIONS AND WARRANTIES - Seller agrees, represents and warrants
the following:
(a) Seller has full right, power and authority to own and operate the property
underlying the Easement, to enter into and to execute this Agreement, to
execute, deliver and perform its obligations under this Agreement and the
instruments executed in connection herewith, to undertake all actions and to
perform all tasks required of Seller hereunder and to consummate the
transaction contemplated hereby.
(b) Purchaser's acceptance of the Easement shall not be deemed to be full
performance and discharge of every agreement and obligation on the part of
Seller to be performed pursuant to the provisions of this Agreement.
(c) No party or person other than Purchaser has any right or option to acquire the
Property or any portion thereof.
(d) Until the date fixed for Closing, so long as this Agreement remains in force and
effect, Seller shall not encumber or convey any portion of the Property or any
rights therein, nor enter into any agreements granting any person or entity any
rights with respect to the Property, without first obtaining the written consent
of Purchaser to such conveyance, encumbrance, or agreement, which consent
may be withheld by Purchaser for any reason whatsoever.
(e) There are no maintenance, construction, advertising, management, leasing,
employment, service or other contracts affecting the Property.
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(f) Seller has no knowledge that there are any suits, actions or arbitration,
administrative or other proceedings or governmental investigations or
requirements, formal or informal, existing or pending or threatened which
affect the Easement or which adversely affect Seller's ability to perform
hereunder; nor is there any other charge or expense upon or related to the
Property which has not been disclosed to Purchaser in writing prior to the
effective date of this Agreement.
(g) Purchaser is entering into this Agreement based upon Seller's representations
stated in this Agreement and on the understanding that Seller will not cause
the physical condition of the Property to change from its existing state on the
effective date of this Agreement up to and including the date of Closing.
Therefore, Seller agrees not to enter into any contracts or agreements
pertaining to or affecting the Property and not to do any act or omit to perform
any act which would adversely affect the physical condition of the Property or
its intended use by Purchaser.
(h) The Property, and all uses of the said Property, have been and presently are
in compliance with all Federal, State and Local environmental laws; that no
hazardous substances have been generated, stored, treated or transferred on
the Property except as specifically disclosed to the Purchaser; that the Seller
has no knowledge of any spill or environmental law violation on the property
contiguous to or in the vicinity of the Easement Property to be sold to the
Purchaser, that the Seller has not received notice and otherwise has no
knowledge of: a) any spill on the Property; b) any existing or threatened
environmental lien against the Property ; or c) any lawsuit, proceeding or
investigation regarding the generation, storage, treatment, spill or transfer of
hazardous substances on the Property. This provision shall survive Closing
and is not deemed satisfied by conveyance of title.
9. INDEMNIFICATION - Seller shall indemnify, defend, save and hold harmless the
Purchaser against and from, and reimburse the Purchaser with respect to, any and all
damages, claims, liabilities, laws, costs and expenses (including without limitation
reasonable paralegal and attorney fees and expenses whether in court, out of court, in
bankruptcy or administrative proceedings or on appeal), penalties or fines incurred by
or asserted against the Purchaser by reason or arising out of the breach of any of
Seller's representations under paragraph 7(h). This provision shall survive Closing and
is not deemed satisfied by conveyance of title.
10. CURATIVE INSTRUMENTS, PROCESSING FEES, TAXES - Purchaser shall pay all
fees to record any curative instruments required to clear title, and all Easement
instrument recording fees. In addition, Purchaser may elect to pay reasonable costs
and/or processing fees required by lien -holders and/or easement -holders in connection
with the execution and delivery of a Release or Subordination of any mortgage, lien or
other encumbrance recorded against the Property provided, however, that any
apportionment and distribution of the full compensation amount in Paragraph 2 which
may be required by any mortgagee, lien -holder or other encumbrance -holder for the
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16.A.15.a
Page 5
protection of its security interest, or as consideration due to any diminution in the value
of its property right, shall be the responsibility of the Seller, and shall be deducted on
the Closing Statement from the compensation payable to the Seller per Paragraph 2.
Purchaser shall have sole discretion as to what constitutes "reasonable costs and/or
processing fees." In accordance with the provisions of Section 201.01, Florida Statutes,
concerning payment of documentary stamp taxes by Purchaser, Seller shall further pay
all documentary stamp taxes required on the instrument(s) of transfer, unless the
Easement is acquired under threat of condemnation.
11. PRIOR YEAR AD VALOREM TAXES - There shall be deducted from the proceeds of
sale all prior year ad valorem taxes and assessments levied against the parent tract
property which remain unpaid as of the date of Closing.
12. EFFECTIVE DATE - This Agreement and the terms and provisions hereof shall be
effective as of the date this Agreement is executed by both parties and shall inure to
the benefit of and be binding upon the parties hereto and their respective heirs,
executors, personal representatives, successors, successor trustees, and/or
assignees, whenever the context so requires or admits.
13. ENTIRE AGREEMENT - Conveyance of the Easement, or any interest in the Property,
by Seller is contingent upon no other provisions, conditions, or premises other than
those so stated herein; and this written Agreement, including all exhibits attached
hereto, shall constitute the entire Agreement and understanding of the parties, and
there are no other prior or contemporaneous written or oral agreements, undertakings,
promises, warranties, or covenants not contained herein. No modification, amendment
or cancellation of this Agreement shall be of any force or effect unless made in writing
and executed and dated by both Seller and Purchaser.
14, BREACH AND TERMINATION - If either party fails to perform any of the covenants,
promises or obligations contained in this Agreement, such party will have breached this
Agreement and the other party may provide written notice of said breach to the party
in breach, whereupon the party in breach shall have 15 days from the date of said
notice to remedy said breach. If the party in breach shall have failed to remedy said
breach, the other party may, at its option, terminate this Agreement by giving written
notice of termination to the party in breach and shall have the right to seek and enforce
all rights and remedies available at law or in equity, including the right to seek specific
performance of this Agreement.
15. SEVERABILITY - Should any part of this Agreement be found to be invalid, then such
invalid part shall be severed from the Agreement, and the remaining provisions of this
Agreement shall remain in full force and effect and not be affected by such invalidity.
16. VENUE - This Agreement is governed and construed in accordance with the laws of
the State of Florida.
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16.A.15.a
Page 6
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the
date first above written.
AS TO PURCHASER:
19-1019:11071
ATTEST:
CRYSTAL K. KINZEL, Clerk of the
Circuit Court & Comptroller
MO
, Deputy Clerk
AS TO SELL
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DATED:
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Name (Print or Type)
Approved as to form and legality:
Jennifer A. Belpedio
Assistant County Attorney
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
Willliam L. McDaniel, Jr., Chairman
irnC�r)c7
YOLANDA JIMENEZ
Packet Pg. 794
R•• THIS IS NOT A SURVEY '"•'
PARCEL 99999-492SWE
5417 WARREN STREET SIDEWALK EASEMENT
SKETCH
A PORTION OF SECTION 29 TWN 50 S RNG 26 E
PARCEL No. 62200800006
LINE
BEARING
DISTANCE
L1
S 50-22'40" W
7 7'
L2
N 88'06'40" E
23.20'
CURVE
C1
ji'lSIT
of
I CERTIFY THAT THIS MAP WAS MADE UNDER MY,.0RVC'dON°+4aW' THAT. IT
MEETS THE MINIMUM TECHNICAL STANDARDS SET FIjR*3 BY THE�"Iacioii- OF
ORIGINAL PROFESSIONAL LAND SURVEYORS IN CHAPTER 3J�47.Q50 THR9Q9GH .052 FLORIDA
THIS MAP IS NOT VALID WITHOUT THE
SIGNATURE AND RAISED SEAL OF THE ORIGINFLORIDA ADMINISTRATIVE CODE, PURSUANT TO CHAPTER 472.027. FLOR5)A StATUIES.
LICENSED SURVEYOR AND MAPPER. MARK D. McCLEARY, PSM
FLORIDA REGISTRATION No. 65
FOR COLLIER COUNTY �,/L!A ��� "�/ -.•° n'r .''
DATE SIGNED:
t, r
BOARD OF COUNTY COMMISSIONERS TITLE 5417 WARREN STREET''"s;
COLLIER COUNTY, FLORIDA SIDEWALK EASEMENT
TRAMS'PORTAT ON I:NcINLLRINc DIVISION
�"3 SoUPH HO`THoE DR17
SAP18S, FWVJDA 34!04 cex+i ?X,z x,az DATE PROJ No. SHEET 1 of 2 FILE:
ARC LENGTH
RADIUS
DELTA ANGLE
CHORD BEAR4N
CHORD LENGTH
�
46.37
439.85
6"02 26
N
39'14 05 E
46
Packet Pg. 795
*** THIS IS NOT A SURVEY ***
PARCI E, 99999-492SWE .!`' � +�.�r�..y■+++�
5417 WARREN STREET SIDEWALK EASEMENT � ^. _ f }_
DF,SCREP"I'ION
A 110W ION OP SECT ION 29 TWN 50 S RNI G 26 E
PARCEL No. 62200800006
UESCRI PT10N:
A PORTION OF LOT 5, BLOCK 3 OF THE NAPLES MANOR EXTENSION PLAT AS RECORDED IN
PLAT BOOK 3, PAGE 101 LYING IN THE NORTH HALF OF SECTION 29, TOWNSHIP 50
SOUTH, RANGE 26 EAST, COLLIER COUNTY, FLORIDA.
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT NORTHEAST CORNER OF SAID LOT 5;
THENCE ALONG THE NORTHERLY RIGHT OF WAY(ROW)LINE OF WARREN STREET (60'ROW)
S 50022140" W A DISTANCE OF 73.77';
THENCE DEPARTING SAID ROW WITH A CURVE TURNING TO THE LEFT WITH AN ARC LENGTH
OF 46.371, WITH A RADIUS OF 439.85', WITH A DELTA ANGLE OF 06002,26", WITH A
CHORD BEARING OF N 39014105" E, WITH A CHORD LENGTH OF 46.351;
THENCE WITH A COMPOUND CURVE TURNING TO THE LEFT WITH AN ARC LENGTH OF
11.251, WITH A RADIUS OF 82.181, WITH A DELTA ANGLE OF 07050'3211, WITH A
CHORD BEARING OF N 22034159" E, WITH A CHORD LENGTH OF 11.24' TO A POINT ON
THE NORTH LINE OF SAID LOT;
THENCE ALONG THE NORTH LINE OF SAID LOT N 88°06140" E, A DISTANCE OF 23.20'
TO THE POINT OF BEGINNING.
HAVING AN AREA OF 428.73 SQUARE FEET, 0.010 ACRES
NOTE: THE NORTH LINE OF LOT 5 OF SAID PLAT BEARS N 88006,40" E.
BOARD OF COUNTY COMMISSIONERS TITLE
5417 WARREN S"1'RF.F.T
COLLIER COUNTY, FLORIDA SIDEWALK EASEMENT
DATE PROJ No. iSHEET 2 of 2 FILE:
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16.A.15. b
AERIAL
PARCEL 492SWE
NAPLES MANOR SIDEWALKS - WARREN STREET (PROJECT NO. 60228.7)
Packet Pg. 797
RKL
APPRAISAL AND CON SUITING
REAL ESTATE APPRAISAL REPORT
NAPLES MANOR SIDEWALK PROJECT
Residential
5417 Warren Street
Naples, Collier County, Florida, 34113
PREPARED FOR:
Mr. Robert M. Bosch
Manager, Right -of -Way Acquisition
Collier County Transportation Right -Of -Way Group
2885 South Horseshoe Drive
Naples, Florida 34104
Client File: 99999-492SWE
EFFECTIVE DATE OF THE APPRAISAL:
November 3, 2021
DATE OF THE REPORT:
November 12, 2021
REPORT FORMAT:
Appraisal Report
PREPARED BY:
RKL Appraisal and Consulting, PLC
RKL File Number: 2021-233 (Parcel No. 99999-492SWE)
ACHI L M. ZUCCHI, MAI, CCIM
C. LOWRY, MAI, CPA
0UIS C. BOSBITT, MAI
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
RKL
APPRAISAL AND CONSULTING
November 12, 2021
Mr. Robert M. Bosch
Collier County Transportation Right -Of -Way Group
2885 South Horseshoe Drive
Naples, Florida 34104
Re: Real Estate Appraisal
Naples Manor Sidewalk Project
5417 Warren Street, Naples,
Collier County, Florida, 34113
Client File: 99999-492SWE
RKL File Number: 2021-233 (Parcel No. 99999-492SWE)
Dear Mr. Bosch:
At your request, RKL Appraisal and Consulting, PLC has prepared the accompanying
appraisal for the above referenced property. The purpose of the appraisal is to estimate
the market value of the fee simple interest in the parent tract before and after the
proposed acquisition. The intended users for the assignment are Collier County
Transportation Right -Of -Way Group. The intended use of the appraisal is as a basis of
value for determining full compensation to the property owner for the loss of the real
estate resulting from the property rights and improvements (if any) which are proposed to
be acquired, including all diminution in value to the remainder land and improvements (if
any) which can be attributed to the use of, or activity upon, the proposed perpetual, non-
exclusive, sidewalk easement (SWE). We use the appraisal report option of Standards
Rule 2-2 of USPAP to report the assignment results.
Please reference the appraisal scope section of this report for important information
regarding the scope of research and analysis for this appraisal, including property
identification, inspection, highest and best use analysis, and valuation methodology.
The accompanying appraisal conforms with the Uniform Standards of Professional
Appraisal Practice (USPAP), the Code of Professional Ethics and Standards of
Professional Appraisal Practice of the Appraisal Institute.
The parent tract is a residential parcel of land containing an area of 0.23 acres, or 9,838
square feet. The parent tract is a vacant, landscaped residential lot.
ACHI L M. ZUCCHI, MAI. CCIM 4500 Executive Drive, Suite 230
Naples, FL 34119-8908
c. LOwRY, MAI, CPA Phone: 239-596-0800
0UIS C. BOBBITT, MAI www.rklac.com
Mr. Robert M. Bosch
Collier County Transportation Right -Of -Way Group
November 12, 2021
Page 2
Based on the appraisal described in the accompanying report, subject to the Limiting
Conditions and Assumptions, Extraordinary Assumptions and Hypothetical Conditions
(if any), it is my opinion that the amount due the property owner, as a result of the loss of
real estate resulting from the property rights and improvements (if any) which are
proposed to be acquired, including all diminution in value to the remainder land and
improvements (if any) which can be attributed to the use of, or activity upon, the
proposed perpetual, non-exclusive, sidewalk easement (SWE).
SUMMARY OF TOTAL COMPENSATION
Value of Property Rights Taken:
$5,300
Value of Improvements Taken:
$900
Severance Damages:
$0
Net Cost to Cure:
$0
TOTAL AMOUNT DUE OWNER: $6,200
Significant Factor
The world, including the United States, is in the midst of a health crisis since early 2020 due to the
rise of COVID 19. The global outbreak was officially declared a pandemic by the World Health
Organization (WHO). The analyses and value opinion(s) in this appraisal are based on the data
available to the appraiser at the time of the assignment and apply only as of the effective date
indicated. No analyses or opinions contained in this appraisal should be construed as predictions of
future market conditions or value(s).
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions:
It is a hypothetical condition the proposed acquisition and the
proposed roadway improvements have been completed as of the
effective date of the appraisal.
Extraordinary Assumptions:
None.
Respectfully submitted,
RKL APPRAISAL AND CONSULTING, PLC
Rachel M. Zucchi, MAI, CCIM
Florida State -Certified General Real Estate Appraiser R72984
rzucchi@rklac.com; Phone 239-596-0801
ACHI L M. ZUCCHI, MAI. CCIM 4500 Executive Drive, Suite 230
Naples, FL 34119-8908
c. LOwRY, MAI, CPA Phone: 239-596-0800
0UIS C. BOBBITT, MAI www.rklac.com
NAPLES MANOR SIDEWALK PROJECT TABLE OF CONTENTS
TABLE OF CONTENTS
Summary of Important Facts and Conclusions................................................................... 4
Introduction Information.....................................................................................................
8
SubjectIdentification......................................................................................................
8
Current Ownership and Property History.......................................................................
8
AppraisalScope..............................................................................................................
8
Client, Intended User, and Intended Use........................................................................
9
Definition of Market Value.............................................................................................
9
Definition of Property Rights Appraised........................................................................
9
Purpose of Appraisal, Property Rights Appraised, and Dates ......................................
10
Scopeof Work..............................................................................................................
10
MarketArea Analysis...................................................................................................
12
Property Description and Analysis...................................................................................
17
Site Analysis - Parent Tract..........................................................................................
17
Real Estate Taxes and Assessments..............................................................................
25
Highestand Best Use....................................................................................................
26
ValuationMethodology....................................................................................................
28
AnalysesApplied..........................................................................................................
29
Valuation Analysis of Parent Tract...................................................................................
30
Sales Comparison Approach.........................................................................................
30
Contributory Value of the Site Improvements Taken ...................................................
37
Valuation Analysis of Part Taken and Remainder Property .............................................
38
Description of Part Taken.............................................................................................
38
Value Analysis Proposed Property Rights and Improvements Taken ..........................
42
Valuation Analysis of Remainder Property As Severed ...................................................
44
Description of Remainder Property as Severed............................................................
44
Value Analysis Remainder Property As Severed.........................................................
45
Severance Damages to the Remainder Property...........................................................
46
Costto Cure Analysis...................................................................................................
46
Special Benefits Analysis.............................................................................................
46
Summary and Conclusion.............................................................................................
47
Certification......................................................................................................................
48
Assumptions and Limiting Conditions.............................................................................
50
Addenda
Appraiser Qualifications
Property Information .....
Comparable Data ...........
Addendum A
Addendum B
Addendum C
NAPLES MANOR SIDEWALK PROJECT
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
GENERAL
Subject: Naples Manor Sidewalk Project
5417 Warren Street, Naples,
Collier County, Florida, 34113
Owner: Yolanda Jimenez
Intended Use: The intended use is as a basis of value for determining full
compensation to the property owner for the loss of the real
estate resulting from the property rights and improvements (if
any) which are proposed to be acquired, including all
diminution in value to the remainder land and improvements (if
any) which can be attributed to the use of, or activity upon, the
proposed perpetual, non-exclusive, sidewalk easement (SWE).
Intended User(s): Collier County Transportation Right -Of -Way Group
PARENT TRACT BEFORE THE TAKING
Current Use: Vacant residential lot proposed for single family development.
Legal Description: Naples Manor Extension Block 3, Lot 5
Tax Identification: 62200800006
Land Area: Total: 0.22585 acres; 9,838 square feet
Shape: Triangular
Flood Zone: Zone AE
Zoning: RSF-4, Residential Single -Family District
Highest and Best Use
As Vacant Single-family residential development
VALUE INDICATIONS BEFORE THE TAKING
Land Value: $123,000
Improvements: $900
Total Market Value of Parent Tract: $123,900
Effective Date(s) November 3, 2021
PrODerty Rights Fee Simble
Significant Factor
The world, including the United States, is in the midst of a health crisis since early 2020 due to
the rise of COVID 19. The global outbreak was officially declared a pandemic by the World
Health Organization (WHO). The analyses and value opinion(s) in this appraisal are based on
the data available to the appraiser at the time of the assignment and apply only as of the effective
date indicated. No analyses or opinions contained in this appraisal should be construed as
predictions of future market conditions or value(s).
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions:
It is a hypothetical condition the proposed acquisition and the
proposed roadway improvements have been completed as of the
effective date of the appraisal.
Extraordinary Assumptions:
None.
Page 4
NAPLES MANOR SIDEWALK PROJECT SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
Identification:
Intended Use of the Proposed
Acquisition:
Description:
Land Area (SWE):
Shape (SWE):
Existing Easements and
Encumbrances:
PART TAKEN
99999-492SWE
The intended use of the proposed acquisition area is for
the installation of a new sidewalk along Warren Street.
Triangular 428.73 square foot area located in the eastern
corner of the site with a base length of 73.77 feet along
Warren Street and 23.20 feet along the drainage ditch.
0.00984 acres; 428.73 square feet
Triangular
There is a 900 square foot Communication Systems
Right of Way Easement (30' x 30') that is located just
west of the proposed sidewalk easement along the
Warren Street border. We are not aware of any additional
easement, restrictions, or encumbrances that would
adversely affect value before the taking. However, a
current title report was not provided for the purpose of
this appraisal.
Proposed Improvements Taken: The Part Taken is cleared and landscaped.
VALUE INDICATIONS PROPOSED PROPERTY RIGHTS AND IMPROVEMENTS TAKEN
Property Rights Taken (SWE): $5,300
Improvements Taken (SWE): 900
Total: $6,200
Effective Date(s) November 3, 2021
VALUE INDICATIONS REMAINDER PROPERTY, AS PART OF THE WHOLE
Market Value of the Parent Tract, Before the Taking: $123,900
Less Market Value of the Proposed Part Taken: $6,200
Total Market Value of the Remainder Property, As Part of the Whole: $117,700
Effective Date(s) November 3, 2021
Significant Factor
The world, including the United States, is in the midst of a health crisis since early 2020 due to
the rise of COVID 19. The global outbreak was officially declared a pandemic by the World
Health Organization (WHO). The analyses and value opinion(s) in this appraisal are based on
the data available to the appraiser at the time of the assignment and apply only as of the effective
date indicated. No analyses or opinions contained in this appraisal should be construed as
predictions of future market conditions or value(s).
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions:
It is a hypothetical condition the proposed acquisition and the
proposed roadway improvements have been completed as of the
effective date of the appraisal.
Extraordinary Assumptions:
None.
Page 5
NAPLES MANOR SIDEWALK PROJECT SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
REMAINDER PROPERTY, AFTER THE TAKING
Land Area: Total: 0.22585 acres; 9,838 square feet
Shape: Triangular
Improvements: The parent tract is a vacant, landscaped residential lot.
Existing Easements and The remainder parcel will be encumbered by a
Encumbrances: triangular 428.73 square foot area located in the eastern
corner of the site with a base length of 73.77 feet along
Warren Street and 23.20 feet along the drainage ditch.
Additionally, there is a 900 square foot Communication
Systems Right of Way Easement (30' x 30') that is
located just west of the sidewalk easement along the
Warren Street border.
We are not aware of any other easement, restrictions, or
encumbrances that would adversely affect value after
the taking. However, a current title report was not
provided for the purpose of this appraisal.
Proposed Acquisition: Proposed perpetual non-exclusive sidewalk easement
consisting of 428.73 feet located at the eastern corner of
the parent tract.
Highest and Best Use
As Vacant Single-family residential development
VALUE INDICATIONS REMAINDER PROPERTY, AFTER THE TAKING
Land Value — Exclusive of Encumbered Land Taken: $117,600
Encumbered Land Taken: $100
Improvement Value: $0
Total Market Value of Reminder Property: $117,700
Effective Date(s) November 3, 2021
Significant Factor
The world, including the United States, is in the midst of a health crisis since early 2020 due to
the rise of COVID 19. The global outbreak was officially declared a pandemic by the World
Health Organization (WHO). The analyses and value opinion(s) in this appraisal are based on
the data available to the appraiser at the time of the assignment and apply only as of the effective
date indicated. No analyses or opinions contained in this appraisal should be construed as
predictions offuture market conditions or value(s).
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions:
It is a hypothetical condition the proposed acquisition and the
proposed roadway improvements have been completed as of the
effective date of the appraisal.
Extraordinary Assumptions:
None.
Page 6
NAPLES MANOR SIDEWALK PROJECT SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
Severance Damages to the Remainder Property
Value of the Whole $123,900
Less Value of the Part Taken $6,200
Value of the Remainder Property as Part of the Whole $117,700
Value of the Remainder Property as Severed $117,700
Difference (Severance Damages) $0
Rounded: $0
Net Cost to Cure: $0
Special Benefits: $0
Parcel No. 99999-492SWE
Parent Tract Before the Taking
Land
Improvements
Total
Proposed Part Taken- SWE
Encumbered Land Taken
hnprovements Taken
Total
Remainder Property, as Part of the Whole
Remainder Properly
Land Area - Exclusive ofAddtional
Encumbered land Taken
Additional Encumbered Land Taken (SWE)
Improvements
Total
Damages
Special Benefits
Net Damages
Indicated Value per
Fee Value per SF % of Fee SF Square Feet Indicated Value Rounded Value Total Value
$12.50 100% $12.50 9,838.12
$12.50 99% $12.38 428.73
$12.50 100% $12.50 9,409.39
$12.50 1% $0.13 428.73
$122,977 $123,000
$5,306 $5,300
$900
$117,617 $117,600
$54 $100
$0
$123,900
$6,200
$117,700
Summary of Total Compensation
Encumbered Land Taken (SWE) $5,300
Value of Improvements Taken (SWE) $900
Amount Due Owner (SWE) $6,200
Total $6,200
Net Damages $0
Net Cost to Cure $0
Total Amount Due Owner $6,200
Significant Factor
The world, including the United States, is in the midst of a health crisis since early 2020 due to the
rise of COVID 19. The global outbreak was officially declared a pandemic by the World Health
Organization (WHO). The analyses and value opinion(s) in this appraisal are based on the data
available to the appraiser at the time of the assignment and apply only as of the effective date
indicated. No analyses or opinions contained in this appraisal should be construed as predictions of
future market conditions or value(s).
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions:
It is a hypothetical condition the proposed acquisition and the
proposed roadway improvements have been completed as of the
effective date of the appraisal.
Extraordinary Assumptions:
None.
Page 7
NAPLES MANOR SIDEWALK PROJECT
INTRODUCTION INFORMATION
INTRODUCTION INFORMATION
SUBJECT IDENTIFICATION
Subject: Naples Manor Sidewalk Project
5417 Warren Street, Naples,
Collier County, Florida, 34113
Legal Description: Naples Manor Extension Block 3, Lot 5
Tax Identification: 62200800006
The parent tract is a residential parcel of land containing an area of 0.23 acres, or 9,838
square feet. The parent tract is a vacant, landscaped residential lot.
CURRENT OWNERSHIP AND PROPERTY HISTORY
Owner
The owner of the property is Yolanda Jimenez.
Sale History
According to public records, the subject has not sold in the last three years.
Current Listing/Contract(s):
To the best of our knowledge, no other sale or transfer of ownership has occurred within
the past three years, and as of the effective date of this appraisal, the property is not
subject to an agreement of sale or option to buy, nor is it listed for sale.
APPRAISAL SCOPE
According to the Uniform Standards of Professional Appraisal Practice, it is the
appraiser's responsibility to develop and report a scope of work that results in credible
results that are appropriate for the appraisal problem and intended user(s). Therefore, the
appraiser must identify and consider:
• the client and any other intended users;
• the intended use of the appraiser's opinions and conclusions;
• the type and definition of value;
• the effective date of the appraiser's opinions and conclusions;
• subject of the assignment and its relevant characteristics
• assignment conditions
• the expectations of parties who are regularly intended users for similar
assignments; and
• what an appraiser's peer's actions would be in performing the same or a similar
assignment.
Page 8
NAPLES MANOR SIDEWALK PROJECT INTRODUCTION INFORMATION
CLIENT, INTENDED USER, AND INTENDED USE
The client and the intended user of the appraisal are Collier County Transportation Right -
Of -Way Group. The intended use is as a basis of value for determining full compensation
to the property owner for the loss of the real estate resulting from the property rights and
improvements (if any) which are proposed to be acquired, including all diminution in
value to the remainder land and improvements (if any) which can be attributed to the use
of, or activity upon, the proposed perpetual, non-exclusive, sidewalk easement (SWE).
The appraisal is not intended for any other use or user.
DEFINITION OF MARKET VALUE
Market value definition used by agencies that regulate federally insured financial
institutions in the United States is defined by The Dictionary of Real Estate Appraisal,
6th ed. (Chicago: Appraisal Institute, 2015) as:
The most probable price that a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller each acting prudently
and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit
in this definition is the consummation of a sale as of a specified date and the passing
of title from seller to buyer under conditions whereby:
■ Buyer and seller are typically motivated;
■ Both parties are well informed or well advised, and acting in what they consider
their best interests;
■ A reasonable time is allowed for exposure in the open market;
■ Payment is made in terms of cash in United States dollars or in terms of
financial arrangements comparable thereto; and
■ 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." (Source: 12 C.F.R. Part 34.42(g); 55 Federal Register
34696, August 24, 1990, as amended at 57 Federal Register 12202, April 9,
1992; 59 Federal Register 29499, June 7, 1994)
DEFINITION OF PROPERTY RIGHTS APPRAISED
Fee simple estate is defined as an: "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." (Source: The Dictionary of Real
Estate Appraisal, 6th ed. (Chicago: Appraisal Institute, 2015)
The proposed property rights to be acquired involve a proposed (SWE) perpetual, non-
exclusive, sidewalk easement.
Page 9
NAPLES MANOR SIDEWALK PROJECT
INTRODUCTION INFORMATION
PURPOSE OF APPRAISAL, PROPERTY RIGHTS APPRAISED, AND DATES
The purpose of the appraisal is to estimate the market value of the fee simple interest in
the parent tract before and after the proposed acquisition. The effective date of the subject
appraisal is November 3, 2021. The date of my most recent inspection was November 3,
2021. The date of the report is November 12, 2021.
SCOPE OF WORK
The problem to be solved is to estimate the market value of the fee simple interest in the
parent tract before and after the proposed acquisition.
SCOPE OF WORK
Report Type:
This is an Appraisal Report as defined by Uniform
Standards of Professional Appraisal Practice under
Standards Rule 2-2(a). This format provides a summary or
description of the appraisal process, subject and market
data and valuation analyses.
Property Identification:
The subject has been identified by the legal description and
the assessors' parcel number.
Inspection:
An on -site inspection was made and photographs were
taken.
Market Area and Analysis of
A complete analysis of market conditions has been made.
Market Conditions:
The appraiser maintains and has access to comprehensive
databases for this market area and has reviewed the market
for sales and listings relevant to this analysis.
Highest and Best Use Analysis:
A complete as vacant highest and best use analysis for the
subject has been made. Physically possible, legally
permissible, and financially feasible uses were considered,
and the maximally productive use was concluded.
Valuation Analyses
Cost Approach:
A cost approach was not applied as the subject tract is
analyzed as vacant land. However, the Cost Approach is
utilized to estimate the contributory depreciated value of
the site improvements (if any) taken.
Sales Comparison Approach: A sales approach was applied as typically this is the most
appropriate approach for the valuation of vacant land. This
approach is applicable to the subject because there is an
active market for similar properties and sufficient sales data
is available for analysis.
Income Approach: An income approach was not applied as the subject is not
likely to generate rental income as vacant land.
Hypothetical Conditions: It is a hypothetical condition the proposed acquisition and
the proposed roadway improvements have been completed
as of the effective date of the appraisal.
Extraordinary Assumptions: None.
Page 10
NAPLES MANOR SIDEWALK PROJECT
INTRODUCTION INFORMATION
Significant Factor
The world, including the United States, is in the midst of a health crisis since early 2020 due to
the rise of COVID 19. The global outbreak was officially declared a pandemic by the World
Health Organization (WHO). The analyses and value opinion(s) in this appraisal are based on
the data available to the appraiser at the time of the assignment and apply only as of the effective
date indicated. No analyses or opinions contained in this appraisal should be construed as
predictions of future market conditions or value(s).
Comments
The individual sections of the report detail the additional research, confirmation, and
analysis of relevant data.
Page 11
NAPLES MANOR SIDEWALK PROJECT MARKET AREA ANALYSIS
MARKET AREA ANALYSIS
Boundaries
The property is located in the South Naples Planning Community. This market area is
generally delineated as follows:
North Davis Boulevard
South Tamiami Trail East
East Collier Boulevard and just east of Collier Boulevard
West Airport -Pulling Road
A map identifying the location of the property follows this section.
Market Area Access and Linkages
Primary access to the market area is provided by CR 951 (Collier Blvd), which starts in
the north at its intersection with Immokalee Rd (CR 846) and extends south to its
eventual ending on Marco Island. CR 951 was recently expanded from four -lanes to six -
lanes between U.S. 41 and Davis Boulevard. Land uses fronting CR 951 are characterized
by commercial uses such as office, large and small scale retail, restaurants, and
convenience stores, as well as limited large-scale residential developments. Tamiami
Trail East (US 41) runs through the market area in an easterly/westerly direction.
Improvements to the intersection of Tamiami Trail East (US 41) and Collier Boulevard
(CR 951) were completed in 2015. One major focus of the project was to eliminate the
angle which had 951 jog abruptly at the intersection. The intersection was resurfaced,
restored and rehabilitated on S.R. 951 from Tower Road to south of Fiddler's Creek
Parkway. The at -grade intersection will accommodate a future grade separated overpass
(C.R./S.R. 951 over U.S. 41). Overall, vehicular access is good.
The extension of Santa Barbara Boulevard between Rattlesnake Hammock Road and
Davis Boulevard was completed in mid 2010. The two-mile project consists of a new six -
lane roadway with sidewalks and bike lanes on both sides. Overall, vehicular access is
good.
Public transportation is provided by Collier Area Transit (CAT). The local market
perceives public transportation as fair compared to other market areas in the region.
However, the primary mode of transportation in this area is the automobile.
The Southwest Florida International Airport (RSW) is located about 35 miles from the
market area; travel time is about 45 minutes to an hour, depending on traffic conditions.
The Naples Municipal Airport (APF) is approximately 7 miles and 15 to 30 minutes west
and the Marco Island Airport (MKY) is approximately 10 miles and 20 minutes to an
hour south of the market area. The Naples CBD, the economic and cultural center of the
region, is approximately 7 miles from the market area.
Page 12
NAPLES MANOR SIDEWALK PROJECT MARKET AREA ANALYSIS
Demand Generators/New Development
The opening of Physicians Regional -Collier Boulevard in 2007 brought services like
obstetrics and pediatrics to East Naples and Marco Island. The 100-bed Physicians
Regional Medical Center -Collier Boulevard includes four operating suites, a 20-bed
recovery unit and 12 intensive -care beds. Six more operating suites were shelled out at
construction. A key component of the hospital is a separate women's pavilion with six
birthing suites and a 12-room post-partum/gynecology rooms. There's also a well -baby
nursery that can handle 15 babies and two -bed isolation room for sick infants.
The NCH Healthcare System opened a 23,000 square foot, two-story, multi -purpose
outpatient medical center near the corner of Collier Boulevard and Grand Lely Drive in
2018. The new building replaces the NCH facility located approximately 1.4 miles north
on Collier Boulevard across from the Physicians Regional hospital. The building includes
a 3,000 square foot Immediate Care Center (urgent care), and 5,500 square feet of
outpatient imaging services including ultrasound, X-Ray, CT, MRI, mammography, and
DEXA. Additional space of 7,500 square feet is dedicated to primary care physician
offices and 4,000 square feet for outpatient rehabilitation services. A 2,500 square foot
sleep lab is also part of the project.
Florida SouthWestern State College (Formerly Edison State College) is a state college in
Florida, part of the Florida College System. The college has its main campus (Lee County
Campus) in Fort Myers in Lee County, and branch campuses in Charlotte and Collier
counties. The Collier Campus of Florida SouthWestern State College is located at the
intersection of Lely Cultural Parkway and Grand Lely Drive. It opened in March of 1992
on an 80-acre site.
Hacienda Lakes, a 2,262-acre mixed -use planned development is located east of Collier
Boulevard near the Florida Sports Park and Physicians Regional Medical Center. The
entire development is approved for up to 1,760 homes, up to 327,000 SF of retail space,
70,000 SF of professional and medical office space, 135 hotel rooms, a 140,000 SF
business park, and a public school. Taylor Morrison is developing 152 acres in the
community for Esplanade at Hacienda Lakes. The neighborhood includes 443
Mediterranean -inspired villas and single-family homes surrounded by 30 acres of lakes
and conservations areas. Toll Brothers is developing Azure at Hacienda Lakes, a luxury,
gated master planned community with more than 400 single-family and coach homes.
D.R. Horton recently broke ground in February 2021 on Tamarino, a community of 251
single family homes on more than 100 acres along Collier Boulevard, south of Physicians
Regional Medical Center and north of VeronaWalk.
Residential development is also ongoing in Lely Resort, Fiddler's Creek, Treviso Bay,
Artesia Naples, Naples Reserve, Winding Cypress and the Isles of Collier Preserve.
With more than 12,000 new single- and multi -family units planned in the market area,
Collier County Planning Commission Chairman Mark Strain estimates nearly 30,000 new
residents at build -out, retail development is following. Kite Realty Group completed
Tamiami Crossing, a 120,859 square foot multi -tenant retail center, located at the
Page 13
NAPLES MANOR SIDEWALK PROJECT MARKET AREA ANALYSIS
southeast corner of Tamiami Trail and Collier Boulevard in March 2016. The center is
occupied by Ulta, Marshall's, Ross, Stein Mart, Michael's, and Petsmart. An Aldi grocery
store is proposed at the Collier Boulevard entrance to Tamiami Crossing. A Fresh
Market, BurgerFi, and Panera Bread have been added to the Lowe's anchored center on
the southwest corner of Tamiami Trail and Collier Boulevard. A Hobby Lobby opened in
October 2016 in the Triangle Plaza, which is also the location of Outback Steakhouse
(2014) and Chase Bank (2012).
Restaurant Row is located along Collier Boulevard just north of the intersection with
Tamiami Trail. The development will consist of at least eight restaurants at completion.
Pollo Tropical opened in September 2016 and a drive-thru Starbucks and T-Mobile were
completed in October 2016. Chipotle Mexican Grill and Texas Roadhouse opened in the
first quarter of 2017 and Pei Wei Asian Diner opened in April 2017.
Wa1Mart, located along Collier Boulevard, just south of the intersection with Tamiami
Trail was expanded to a Supercenter with the addition of a grocery store and gas pumps
and the removal of the auto repair portion.
A new Publix opened in the Fiddler's Creek Plaza located a few miles east of Collier
Boulevard along the south side of Tamiami Trail in August 2021. A Publix Liquors store
is also part of the 64,000-square-foot retail center at the new eastern entrance into
Fiddler's Creek. In addition to the Publix, there is approximately 12,000 square feet of
inline retail space.
Demographics
The following table shows the historical, current and projected population, households,
housing, and income demographics for the immediate market area defined as a 3 mile
radius from the subject. The table was developed using data from STDBOnline.com.
Page 14
NAPLES MANOR SIDEWALK PROJECT
MARKET AREA ANALYSIS
Qesri, Demographic
and Inc..Profile
5417 Warren St
Prepared by Esri
5417 Warren St, Naples, Florida, 34113
Latitude:
26.09476
Ring: 3 mile radius
Longitude:
-81.72566
Summary
Census 2010
2021
2026
Population
32,820
45,34D
49,571
Households
14,014
19,486
21,368
Families
9,086
12,642
13,867
Average Household Size
2.31
2.3D
2.30
Owner Occuppied Housing Units
1D,515
14,661
16,027
Renter Occupied Housing Units
3,499
4,825
5,341
Median Age
51.0
54.9
55.7
Trends: 2021-2026 Annual Rate
Area
State
National
Population
1.8D%
1.31%
0.71%
Households
1.86%
1.27%
0.71%
Families
1.87%
1.22%
0.64%
Owner HHs
1.8D%
1.45%
0.91%
Median Household Income
2.7D%
2.38%
2.41%
2021
2026
Households by Income
Number
PegTent
Number
Percent
a$15,000
1,793
9.21/6
1,504
7.0%
$15,000 - $24,999
1,265
6.5%
962
4.5%
$25,000 - $34,999
1,717
8.8%
1,505
7.0%
$35,000 - $49,999
2,858
14.7%
2,968
13.9%
$50,000 - $74,999
3,597
18.51/6
4,211
19.7%
$75,000 - $99,999
2,752
14.1%
3,D32
14.2%
$10D,000 - $149,999
3,091
15.9%
3,717
17.4%
$15D,00D - $199,999
994
5.1%
1,448
6.8%
$200,0004
1,420
7.3%
2,020
9.5%
Median Household Income
$62,294
$71,167
Average Household Income
$88,245
$103,730
Per Capita Income
$37,780
$44,433
Outlook and Conclusions
As with Collier County, the long term economic outlook for the market area is positive.
Total population is projected to increase slightly over the next five years and begin a
more normalized pattern thereafter.
Prior to the coronavirus pandemic, the residential market had stabilized after several
years of an expansion period, with sustained growth in demand and increasing
construction. Since the coronavirus pandemic, residential demand has increased
significantly with record sales in 2020. Inventory shortages continue to drive prices up;
however, extended shortages and surging construction prices may begin to temper
demand.
Generally, the commercial market lags the residential market. Aside from some signs of
an upcoming decline, characterized by positive but falling demand with increasing
vacancy, the overall commercial market was projected to continue to increase at a
stabilized rate prior to the coronavirus outbreak. The significant residential demand since
the pandemic has generally stabilized the commercial market overall with an increased
demand for the industrial sector and select retail and office properties.
Page 15
NAPLES MANOR SIDEWALK PROJECT
Market Area Map
w
,rattlesnake Hammock Rd
9)
nogle
Lely
50
Naples Manor
ek
Rattresrwke Hammock Rd
9 Lely High School
Map data @2021
Page 16
NAPLES MANOR SIDEWALK PROJECT
SITE ANALYSIS - PARENT TRACT
PROPERTY DESCRIPTION AND ANALYSIS
SITE ANALYSIS - PARENT TRACT
The following description is based on our property inspection, public records, a Survey
dated May 27, 2021 prepared by Foundit Land Services Corp, and a sketch and
description of the proposed take prepared by the Transportation Engineering Division.
Land Summary - Parent Tract Before Taking
Gross Land Area Gross Land Area
Parcel ID
(Acres) (Sq Ft)
62200800006 0.2259 9,838
SITE
Location:
The subject is located along north side of Warren Street where
Warren Street curves and extends northerly.
Current Use of the Property:
Vacant residential lot proposed for single family development.
Shape:
Triangular
Road Frontage/Access:
The subject property has average access with frontage as
follows:
• Warren Street: 159 feet
• Drainage Ditch: 202 feet
The site has an average depth of approximately 62 feet. It is a
corner parcel.
Visibility:
Average
Topography:
The subject parent tract is cleared with level topography and no
known areas of wetlands. A drainage ditch is located along the
northern border of the site.
Soil Conditions:
We were not provided with a soils report for the purpose of this
appraisal. We are not experts in soils analysis; however, the soil
conditions observed at the subject appear to be typical of the
region and adequate to support development.
Utilities:
Electricity: FP&L
Sewer: Municipal sewer
Water: Municipal water
Underground Utilities: The site is not serviced by underground
utilities
Adequacy: The subject's utilities are typical and adequate for the
market area.
Site Improvements: • Street Lighting: There is no street lighting.
• Sidewalks: There are no sidewalks. A sidewalk is proposed
along the north side of Warren Street.
• Curbs and Gutters: There are no curb cuts.
• Curb Cuts: There is no existing driveway along Warren
Street.
Flood Zone: The subject is located in an area mapped by the Federal
Emergency Management Agency (FEMA). The subject is
Page 17
NAPLES MANOR SIDEWALK PROJECT SITE ANALYSIS - PARENT TRACT
located in FEMA flood zone AE, which is classified as a flood
hazard area.
FEMA Map Number: 12021 C 0601 H
FEMA Map Date: May 16, 2012
The subject parent tract is located in the flood zone. The
appraiser is not an expert in this matter and is reporting data
from FEMA maps.
Environmental Issues: We were not provided with an environmental assessment report
for the purpose of this appraisal. Environmental issues are
beyond our scope of expertise; therefore, we assume the
property is not adversely affected by environmental hazards.
Encumbrance / Easements: There is a 900 square foot Communication Systems Right of
Way Easement (30' x 30') that is located just west of the
proposed sidewalk easement along the Warren Street border. We
are not aware of any additional easement, restrictions, or
encumbrances that would adversely affect value before the
taking. However, a current title report was not provided for the
purpose of this appraisal.
Site Comments: The site is triangular due to the drainage ditch running along the
northern border. Additionally, there is a 900 square foot
Communication Systems Right of Way Easement (30' x 30') that
is located just west of the proposed sidewalk easement along the
Warren Street border. The triangular shape of the parcel and the
Communication Systems Right of Way Easement limit
development potential. The site has below average utility. The
property owner plans to construct a 1,951 square foot four -
bedroom, two -and -a -half -bathroom single-family home on the
site. As of the date of inspection stakes were in place marking
corners for the proposed concrete slab.
ZONING
Zoning Code
RSF-4
Zoning Authority
Collier County
Zoning Description
RSF-4, Residential Single -Family District
Permitted Uses
Single-family dwellings; Family care facilities; and
Educational plants and public schools with an
agreement with Collier County
Permitted Uses
Provide lands primarily for single-family residences.
These districts are intended to be single-family
residential areas of low density. The nature of the use
of property is the same in all of these districts.
Variation among the RSF-1, RSF-2, RSF-3, RSF-4,
RSF-5 and RSF-6 districts is in requirements for
density, lot area, lot width, yards , height, floor area ,
lot coverage , parking, landscaping and signs.
Current Use Legally Conforming
The subject is legal and conforming use.
Minimum Lot Area (SF)
7,500
Minimum Floor Area (SF)
1-story 1,500 feet; 2-story 1,800 feet
Page 18
NAPLES MANOR SIDEWALK PROJECT SITE ANALYSIS - PARENT TRACT
Minimum Street Frontage (Feet)
Corner lot 75 feet; Interior lot 70 feet
Front Set Back Distance (Feet)
30 feet
Rear Set Back Distance (Feet)
25 feet
Side Yard Distance (Feet)
Waterfront: 10 feet; Non -waterfront: 7.5 feet
Maximum Density/FAR
None
Maximum Building Height (Feet)
35
Future Land Use Designation
Urban Residential Subdistrict
Aerial - Parent Tract
Page 19
NAPLES MANOR SIDEWALK PROJECT
SITE ANALYSIS - PARENT TRACT
Site Photographs
Parcel 99999-492SWE — Northeasterly
Parcel 99999-492SWE —Westerly
(Photo Taken on November 3, 2021)
Page 20
NAPLES MANOR SIDEWALK PROJECT
SITE ANALYSIS - PARENT TRACT
Site Photographs
Parcel 99999-492SWE —Southerly
Communications Systems Easement on Parent Tract — Westerly
(Photo Taken on November 3, 2021)
Page 21
NAPLES MANOR SIDEWALK PROJECT
SITE ANALYSIS - PARENT TRACT
Site Photographs
Parent Tract — Southwesterly
(Photo Taken on November 3, 2021
Parent Tract and Communications Systems Easement on Parent Tract —
Northerly (Photo Taken on November 3, 2021)
Page 22
NAPLES MANOR SIDEWALK PROJECT
SITE ANALYSIS - PARENT TRACT
Site Photographs
Warren Street — Northerly (Parent Tract on left)
Warren Street — Southerly (Parent Tract on right)
(Photo Taken on November 3, 2021)
Page 23
NAPLES MANOR SIDEWALK PROJECT
SITE ANALYSIS - PARENT TRACT
Site Photographs
Drainage Ditch — Westerly (Parent Tract on left)
(Photo Taken on November 3, 2021)
Drainage Ditch — Easterly (Parent Tract on right)
(Photo Taken on November 3, 2021)
Page 24
NAPLES MANOR SIDEWALK PROJECT REAL ESTATE TAXES AND ASSESSMENTS
REAL ESTATE TAXES AND ASSESSMENTS
The real estate tax assessment of the subject is administered by Collier County. In 2008,
Florida voters amended the Constitution to give non -homestead property owners some
protection against increases in their annual property tax assessments. As amended, the
Florida Constitution now prohibits the assessment of certain non -homestead property
from increasing by more than 10% per year. The 10% cap applies to most types of
commercial property, including non -homestead residential property (i.e. apartments and
other rental property) and nonresidential property (i.e. commercial property and vacant
land). The cap was set to expire on January 1, 2019; however, in November 2018 Florida
voters amended the Constitution to make the cap permanent. The protection of the 10%
cap is lost when there is a change of ownership or control.
The property tax identification number and assessed value of the property for tax year
2021 are as follows:
ASSESSED VALUES - PARENT TRACT
Tax Identification Number 62200800006
Land Assessed Value $79,817
Building Assessed Value $0
Save our Homes/Homestead, et al. - 65 511
Total Assessed Value $14,306
Totals
Total Land Assessed Value $79,817
Total Building Assessed Value $0
Save our Homes/Homestead, et al.-$65,511
Total Assessment $14,306
Rates. Taxes. More
Tax Rate
1.15%
Ad Valorem Tax Amount
$486
Special Assessment Amount
$0
Special Assessment Comments
None
Total Tax Liability
$486
The assessment for the subject underlying land is currently $8.11 per square foot prior to
exemptions. Based on our valuation analysis, the subject's assessment appears low.
Page 25
NAPLES MANOR SIDEWALK PROJECT HIGHEST AND BEST USE
HIGHEST AND BEST USE
Highest and best use may be defined as:
The reasonably probable use of property that results in the highest value. The four
criteria the highest and best use must meet are legal permissibility, physical
possibility, financial feasibility, and maximum productivity. 1
■ Physically possible for the land to accommodate the size and shape of the
ideal improvement.
■ Legally permissible under the zoning regulations, building codes,
environmental regulations, and other restrictions that apply to the site. A
property use that is either currently allowed or most probably allowable.
■ Financially feasible to generate sufficient income to support the use.
■ Maximally productive, or capable of producing the highest value from
among the permissible, possible, and financially feasible uses.
Highest and Best Use As If Vacant
Physically Possible
The parent tract is 0.22585 acres or 9,838 square feet with 159 feet of frontage along
Warren Street and 202 feet along a Drainage Ditch.
The site is triangular due to the drainage ditch running along the northern border. The
triangular shape of the parcel limits development potential. The site has below average
utility.
The subject's utilities are typical and adequate for the market area. The parent tract is
triangular in shape. The site is located in a FEMA flood zone AE area per FEMA Flood
Map Number: 12021 C 0601 H, dated May 16, 2012, which is classified as a flood hazard
area.
Legally Permissible
The subject site is zoned within the RSF-4, Residential Single -Family District. This
district provides lands primarily for single-family residences. These districts are intended
to be single-family residential areas of low density. The nature of the use of property is
the same in all of these districts. Variation among the RSF-1, RSF-2, RSF-3, RSF-4,
RSF-5 and RSF-6 districts is in requirements for density, lot area, lot width, yards,
height, floor area, lot coverage, parking, landscaping and signs. Single-family dwellings;
Family care facilities; and Educational plants and public schools with an agreement with
Collier County are permitted.
1 The Dictionary of Real Estate Appraisal 6' ed. (Chicago: Appraisal Institute, 2015)
Page 26
NAPLES MANOR SIDEWALK PROJECT HIGHEST AND BEST USE
There is a 900 square foot Communication Systems Right of Way Easement (30' x 30')
that is located just west of the proposed sidewalk easement along the Warren Street
border.
Recognizing the principle of conformity, we consider the prevailing land use patterns in
the area. Therefore, only single-family uses are given further consideration in
determining the highest and best use of the site, as if vacant.
Financially Feasible
Financial feasibility is an analysis of the ability of a property to generate sufficient
income to support the use, or a reasonable probability of producing a positive income
stream net of operating expenses, financial costs, and capital amortization.
Prior to the coronavirus pandemic, the residential market had stabilized after several
years of an expansion period, with sustained growth in demand and increasing
construction. Since the coronavirus pandemic, residential demand has increased
significantly with record sales in 2020. Inventory shortages continue to drive prices up;
however, extended shortages and surging construction prices may begin to temper
demand.
On this basis, barring unforeseen changes in the market, if developed with a well -
designed residential product that is appropriately marketed and priced, should be received
favorably by the market.
Maximally Productive
The maximally productive land use yields the highest value of the possible uses. Single-
family residential development is the only use that meets the tests of physically possible,
legally permissible, and financially feasible. Therefore, Single-family residential
development is concluded to be the maximally productive and highest and best use of the
site.
Highest and Best Use as Improved
The property owner plans to construct a 1,951 square foot four -bedroom, two -and -a -half -
bathroom single-family home on the site which is consistent with the highest and best use
of the site as is. As of the date of inspection stakes were in place marking corners for the
proposed concrete slab.
Most Probable Buyer
Considering the size, class, and location of the property, the most probable buyer is an
owner -user.
Page 27
NAPLES MANOR SIDEWALK PROJECT VALUATION METHODOLOGY
VALUATION METHODOLOGY
Three basic approaches may be used to arrive at an estimate of market value. They are:
1. The Cost Approach
2. The Sales Comparison Approach
3. The Income Approach
Cost Approach
The Cost Approach estimates the current cost to construct the existing structure including
an entrepreneurial incentive, depreciation, and the estimated land value. This approach is
particularly applicable when the improvements represent the highest and best use of the
land and are relatively new. It is also applicable when the property has unique or
specialized improvements for which there is little or no sales data from comparable
properties.
Sales Comparison Approach
The Sales Comparison Approach compares sales of similar properties with the subject
property. Each comparable sale is adjusted for its inferior or superior characteristics. The
values derived from the adjusted comparable sales form a range of value for the subject.
By process of correlation and analysis, a final indicated value is derived. This approach is
most reliable in an active market, and is least reliable when valuing a property for which
no direct comparable sales data is available.
Income Approach
The Income Approach converts the anticipated flow of future benefits (cash flows and
reversion) to a present value estimate through a capitalization and or a discounting
process. This approach generally reflects a typical investor's perception of the
relationship between the potential income of a property and its market value.
Final Reconciliation
The appraisal process concludes with the Final Reconciliation of the values derived from
the approaches applied for a single estimate of market value. The reconciliation of the
approaches is based on an evaluation of the quantity and quality of the available data in
each approach. Furthermore, different properties require different means of analysis and
lend themselves to one approach over the others.
Page 28
NAPLES MANOR SIDEWALK PROJECT
VALUATION METHODOLOGY
ANALYSES APPLIED
A cost analysis was considered and was not developed because the subject tract is
analyzed as vacant land. However, the Cost Approach is utilized to estimate the
contributory depreciated value of the site improvements (if any) taken.
A sales comparison analysis was considered and was developed because typically this is
the most appropriate approach for the valuation of vacant land. This approach is
applicable to the subject because there is an active market for similar properties and
sufficient sales data is available for analysis.
An income analysis was considered and was not developed because the subject is not
likely to generate rental income as vacant land.
Page 29
NAPLES MANOR SIDEWALK PROJECT SALES COMPARISON APPROACH
VALUATION ANALYSIS OF PARENT TRACT
SALES COMPARISON APPROACH
The Sales Comparison Approach is based on the premise that a buyer would pay no more
for a specific property than the cost of obtaining a property with the same quality, utility,
and perceived benefits of ownership. It is based on the principles of supply and demand,
balance, substitution and externalities. The following steps describe the applied process
of the Sales Comparison Approach.
• The market in which the subject property competes is investigated; comparable
sales, contracts for sale and current offerings are reviewed.
• The most pertinent data is further analyzed and the quality of the transaction is
determined.
• The most meaningful unit of value for the subject property is determined.
• Each comparable sale is analyzed and where appropriate, adjusted to equate with
the subject property.
• The value indication of each comparable sale is analyzed and the data reconciled
for a final indication of value via the Sales Comparison Approach.
Land Comparables
I have researched four comparables for this analysis; these are documented on the
following pages followed by a location map and analysis grid. All sales have been
researched through numerous sources, inspected and verified by a party to the
transaction. For this analysis, we use the price per square foot as the appropriate unit of
comparison because market participants typically compare sale prices and property
values on this basis.
Comp
Address
Date
Price
City
Land SF
Price Per SF
Comments
Subject
5417 Warren Street
11/3/2021
Naples
9,838
1
5285 Dixie Drive
2/19/2021
$75,000
Cleared parcel located along drainage canal in Naples
Manor. Listed in Jan 2021 for $85,000.
Naples
8,100
$9.26
2
5313 Martin Street
4/9/2021
$90,900
Cleared parcel located in Naples Manor. Listed in Feb 2021
for $105,900 and reduced to $103,900 and then $95,900 on
Naples
8,100
$11.22
3/22/21.
3
5245 Hardee St
10/9/2020
$79,000
Treed parcel located in Naples Manor. Listed in Sept 2020
for $79,000.
Naples
8,400
$9.40
4
183 Palmetto Dunes Cir
8/19/2021
$167,500
Treed parcel located in Lely Country Club. listed 2/4/21 for
$175,000. The property previously sold in 3/2018 for
Naples
11,761
$14.24
$120,000.
Page 30
NAPLES MANOR SIDEWALK PROJECT
SALES COMPARISON APPROACH
Comparables Map
ttlesnake f I@ rpmpck Rd
�I
Googie
Lily
a- Naple #a nor
Raltlesnnke 6diJmmDek Rd
19 Lely High School
Map data @2021
Page 31
NAPLES MANOR SIDEWALK PROJECT
SALES COMPARISON APPROACH
Analysis Grid
The above sales have been analyzed and compared with the subject property. I have
considered adjustments in the areas of:
Effective Sale Price This takes into consideration unusual conditions involved in the
sale that could affect the sales price, such as excess land, non -
realty components, commissions, or other similar factors.
Usually the sale price is adjusted for this prior to comparison to
the subject.
Real Property Rights Property rights dissimilar to the subject which affect value.
Financing Terms Favorable or unfavorable seller financing, or assumption of
existing financing.
Conditions of Sale Circumstances that atypically motivate the buyer or seller, such
as 1031 exchange transaction, assemblage, or forced sale.
Market Conditions Inflation or deflation since sale date due to economic influences
Location Market or submarket area influences on sale price; surrounding
land use influences.
Physical Characteristics Attributes such as size, shape, utilities, frontage, zoning, etc.
On the following page is a sales comparison grid displaying the subject property, the
comparables and the adjustments applied.
Page 32
NAPLES MANOR SIDEWALK PROJECT
SALES COMPARISON APPROACH
Land Analysis Grid
Comp 1
Comp 2
Comp 3
Comp 4
Name
Naples Manor Sidewalk
5285 Diide Drive
5313 Martin Street
5245 Hardee St
183 Palmetto Dunes Cir
Project
Address
5417 Warren Street
5285 Dude Drive
5313 Martin Street
5245 Hardee St
183 Palmetto Dunes Cir
City
Naples
Naples
Naples
Naples
Naples
Date
11/3/2021
2J19/2021
4/9/2021
10/9/2020
8/19/2021
Price
$75,000
$90,900
$79,000
$167,500
Land SF
9,838
8,100
8,100
8,400
11,761
Land SF Unit Price
$9.26
$11.22
$9.40
$14.24
Transaction Adjustments
Property Rights
Fee Simple
Fee Simple 0.01/.
Fee Simple 0.0%
Fee Simple 0.0%
Fee Simple 0.0%
Financing
Private 0.0%
Cash to seller 0.0%
Cash to seller 0.0%
Cash to seller 0.0%
Conditions of Sale
AmYs Length 0.0°/
Arms Length 0.09/.
Anus Length 0.0%
Amts Length 0.0%
Adjus ted Land SF Unit Price
$9.26
$11.22
$9.40
$14.24
Market Trends Through
11/3/2021 25.0%
17.0%
13.6%
26.9%
4.8%
AdjustedLand SFUnit Price
$10.83
$12.74
$11.94
$14.92
Location
Naples Manor
Naples Manor
Naples Manor
Naples Manor
Lely Country Club
%Adjustmen t
00/
0%
00/
-15%
;Ad justment
9,838
$0.00
8,100
$0.00
8,100
$0.00
8,400
-$2.24
11,761
Land SF
%Adjustment
0%
0%
00/
000/0
$ Adjustment
Triangular
$0.00
Rectangular
$0.00
Rectangular
$0.00
Rectangular
$0.00
Rectangular
Shape
%Adjustment
-5%
-5%
-5%
-5%
$Adjustment
Drainage Canal
-$0.54
Drainage Canal
-$0.64
None
-$0.60
None
-$0.75
None
Water Frontage
%Adjustment
01/.
5%
5%
5%
$Adjustment
Cleared
$0.00
Cleared
$0.64
Cleared
$0.60
Treed
$0.75
Treed
Topography
%Adjustment
0"/
0%
5%
5%
$Adjustment
RSF-4
$0.00
RSF4
$0.00
RSF-4
$0.60
RSF4
$0.75
PUD
Zoning Type
Adjustment
01/
0%
0%
00/
$Adjustment
$0.00
$0.00
$0.00
$0.00
Adjusted Land SF Unit Price
$10.29
$12.74
$12.53
$13.43
Net Adjustments
-5.0%
0.0%
5.0%
-10.00/0
Gross Adjustments
5.0%
10.0%
15.001
30.0%
Page 33
NAPLES MANOR SIDEWALK PROJECT SALES COMPARISON APPROACH
Comparable Land Sale Adjustments
Property Rights
All of the comparables transferred in fee simple interest; therefore, no adjustments for
property rights are required.
Financing
All of the comparable sales had market orientated financing or were cash transactions;
therefore, no adjustments for financing are required.
Conditions of Sale
All of the comparable sales were arm's length transactions; therefore, no adjustments for
conditions of sale are required.
Economic Trends
According to the September 2021 Market Report released by the Naples Area Board of
Realtors (NABOR), overall closed sales decreased 18.9% in September 2021 compared
to closed sales in September 2020. Total closed sales in 2020 increased 19.4% from
2019. Overall inventory in September 2021 fell 76.3% to 1,251 homes from 5,287 homes
in September 2020.
The December 2020 year-end report indicated a 11.4% increase in median closed price
from $332,000 in 2019 to $370,000 in 2020. The average closed price increased 16.1%
from $593,683 in 2019 to $689,162 in 2020.
The following table summarizes single family metrics within the subject's South Naples
market area. South Naples is defined by NABOR as Zip Codes 34112 and 34113.
South Naples
34112,34113
Single Family
September
New UsOngs
75
54
- 2130%
TDtal Sales
78
45
- 42-3%
Gays on Market Until Sale
91
37
- 59-3%
Median Closed Frioe'
$460,000
S550-ow
+ 19.6%
AvarageClosedPrice
U23,104
S864.033
+65.2%
Percent of List Price P9eceivad'
95-6%
98A %
+ 2.G%
Intrentory of Homes for Sale
311
82
- 73_f3%
Lkmd a Sig4Ay of krvmhhy
5-7
IA
- e25%
Year to Cate
736
758
+ 2.7%
504
757
+ 502%
94
48
- 48-9%
$425.COG
",00D
+ 23-5%
$..r- 44.5M
$678,194
+ 24-5%
05.5%
9ff.3%
+2.9%
Ones not account for sale concessions andlor downpayment assistance_ I Percent changes are calculated using rounded figures and can sometimes look PAmme due to small sample size_
As shown, the number of new listings decreased by 28% from September 2020 to
September 2021 while the number of total sales decreased 42.3%. New Listings are up
2.7% year to date with total sales up 50.2%. The median closed price increased 19.6% in
Page 34
NAPLES MANOR SIDEWALK PROJECT SALES COMPARISON APPROACH
September 2021 vs September 2020 and 23.5% year to date. The average sales price
increased 65.2% in September 2021 vs September 2020 and 24.5% year to date.
However, it is noted this is unadjusted raw data and does not relate directly to the subject.
Based on the preceding analysis and considering underlying land will have a similar trend
as single-family homes, a 25.0% per year is applied.
Location
The subject consists of a single-family lot within Naples Manor a platted subdivision
along Tamiami Trail East (U.S. 41). Comparables 1, 2, and 3 are also located in Naples
Manor and are considered similar overall in terms of location.
Comparable 4 is located in the adjacent Lely Country Club. The golf -course community
has larger lots and higher priced homes. It is superior to Naples Manor and adjusted
downward accordingly.
Size
For this analysis, the comparables range in size from 8,100 square feet to 11,761 square
feet.
Overall they are relatively similar to the subject in terms of size and no adjustments are
required.
Shape
The subject is triangular while the comparables are all rectangular. As discussed, the
shape limits the development potential of the site. The comparables are all adjusted
downward accordingly.
Water Frontage
The subject and Comparable 1 are both located along a drainage canal which provides a
buffer from the adjacent uses. Comparables 2, 3, and 4 do not have drainage canal
frontage and are adjusted upward accordingly.
Topography
For this analysis, the subject and Comparables 1 and 2 are cleared and level.
Comparables 3 and 4 were treed and are adjusted upward accordingly.
Zoning
The subject is zoned as RSF-4, Residential Single -Family District similar to Comparables
1, 2, and 3. Comparable 4 is located within the Lely Country Club PUD.
All of the comparables are similar in terms of zoning type; therefore, no adjustments are
required.
Page 35
NAPLES MANOR SIDEWALK PROJECT
SALES COMPARISON APPROACH
Sales Comparison Approach Conclusion — Land Valuation
All of the value indications have been considered in arriving at my final reconciled per
square foot value of $12.50.
Land Value Ranges & Reconciled Values
Number of Comparables: 4 Unadjusted Adjusted % 0
Low: $9.26
$10.29 11.16%
High: $14.24
$13.43 -5.72%
Average: $11.03
$12.25 11.04%
Reconciled Value/Unit Value:
$12.50
Subject Size: 9,838
Indicated Value: $122,977
Reconciled Final Value: $123,00(
Exposure and Marketing Times
Exposure time is always presumed to precede the effective date of the appraisal and is the
length of time the subject property would have been exposed for sale in the market had it
sold on the effective valuation date at the concluded market value. Marketing time is an
estimate of the amount of time it might take to sell a property at the estimated market
value immediately following the effective date of value.
Based on our review of recent sales transactions for similar properties and our analysis of
supply and demand in the local retail market it is our opinion that the probable marketing
and exposure time for the parent tract is 6 months to 12 months.
Page 36
NAPLES MANOR SIDEWALK PROJECT
CONTRIBUTORY VALUE OF THE SITE IMPROVEMENTS TAKEN
CONTRIBUTORY VALUE OF THE SITE IMPROVEMENTS TAKEN
The part taken consists of a triangular 428.73 square foot area located in the eastern
corner of the site with a base length of 73.77 feet along Warren Street and 23.20 feet
along the drainage ditch. The Part Taken is cleared and landscaped.
Value of Improvements Taken
The depreciated replacement cost of the improvements taken is based on cost estimates
from Marshall & Swift, a nationally recognized cost service.
Marshall & Swift
Cost Source: Marshall & Swift Section 66, Pages 1-8
No. of Stories Multiplier: 1.000 Local Multiplier: 1.000
Height/Story Multiplier: 1.000 Current Cost Multiplier: 1.220
Perimeter Multiplier: 1.000 Combined Multipliers: 1.220
Site Improvements Taken
Item Unit Type Cost Approx. Multiplier Total
Quantity
Clearing, grading, landscaping Sq. Ft. $2.09 428.73 1.220 $1,096
Total Site Improvement Costs
Soft Costs
Item Percent Type
Total
Indirect Costs ................ 10.0% % of Site Cost
Total Soft Costs
$110
$110
Total Costs
Total Cost
$1,205
Depreciation: Section 1 of 1
Componentl ElE Age I Life I Percent Amount
Physical Depreciation: Site 4 15 27% $292
Total Depreciation $292
Depreciated Value of Improvements $913
Rounded $900
Based on the previous analysis, the following table summarizes the estimated market
value of the parent tract and the contributory of value of the site improvements.
Value Indications, Before the Taking
Fee Value per % of Indicated Value Square Rounded
SF Fee per SF Feet Indicated Value Value Total Value
Parent Tract Before the Taking
Land $12.50 100% $12.50 9,838.12 $122.977 $123,000
Improvements $900
Total $123,900
Page 37
NAPLES MANOR SIDEWALK PROJECT DESCRIPTION OF PART TAKEN
VALUATION ANALYSIS OF PART TAKEN AND REMAINDER PROPERTY
DESCRIPTION OF PART TAKEN
Parcel No. 99999-492SWE is a perpetual non-exclusive sidewalk easement for the
Naples Manor Warren Street sidewalk project along Cindy Mysels Park. The proposed
sidewalk extends from Carolina Avenue to St. Andrew Boulevard.
The part taken consists of a triangular 428.73 square foot area located in the eastern
corner of the site with a base length of 73.77 feet along Warren Street and 23.20 feet
along the drainage ditch.
Land Area: 0.00984 acres; 428.73 square feet
Shape: Triangular
Existing Easements and There is a 900 square foot Communication Systems
Encumbrances: Right of Way Easement (30' x 30') that is located
just west of the proposed sidewalk easement along
the Warren Street border. We are not aware of any
additional easement, restrictions, or encumbrances
that would adversely affect value before the taking.
However, a current title report was not provided for
the purpose of this appraisal.
Proposed Improvements Taken: The Part Taken is cleared and landscaped.
Page 38
NAPLES MANOR SIDEWALK PROJECT
DESCRIPTION OF PART TAKEN
Aerial - Part Taken
Approximate boundary line of the proposed perpetual non-exclusive sidewalk easement
are shown in blue.
Page 39
NAPLES MANOR SIDEWALK PROJECT
DESCRIPTION OF PART TAKEN
Sketch of Proposed Part Taken
{'+* Y'HrS IS NOT A ,WJRVHY 0"
PARCEL.99999 �v2SWE
5417 WARREN STREET SIDEWALK EASEMPNT
SKETCH
A PORTION Of SECTION 29 T NN 50 S RNG 26 E
PAR[:F.:. Nd j. 622109000U6
LINE
BEARING
DISTANCE
L1
S 50'22 40 W
73.77
L2
N 88'06 40 E
23.20
ICURVE
IARQ 4ENGIH
IRADJUS
IDELTA ANGLEICHOPQ
BEARIKICHORD LENGTH
�
6.35
E 11. 4
4
1
L2
1 /
\ 6417 WARREN STREET
\\ /r Lo
i
THIS MAP IS NOT VAUD WTHOUT THE ORIGINAL
ShGWATURE AND RAISED SEAL OF THE FLORIDA
LICENSED SURVEYOR AND MAPPER.
BOARD OF COUNTY COMMISSIOIVFRS
COLLTRR COI]NTY, FLORIDA
T[RANSPPP.I AMD? L:L'IZING D% LOON
•::I•: is �aly4
�.•::: ���: ,.. ... i.i.�,rin •xa-nice
I CERTIFY THAT THIS MAP WAS MADE UNDER MY DIRF6CT1OtI AND THAT IT
MEETS THE MINIMUM TECHNICAL STANDARDS SET FORTH BY THE BOARD OF
PROFESSIONAL LAND SURVEYORS IN CHAPTER 5J--17.060 THROUGH .082, FLORIDA
ADWNSTRATIVE CODE, PURSUANT TO CHAPTER 472,027, FLORIDA STATUTES
MARK D. McCLEARY, PSM
FLORIDA REGISTRATION No. 68
IOR 1XILLII=i2 COUNTY
DATE SIGNED:
TITLE 5417 WARREN STREET
SIDEWALK EASEMENT
DATE I PR4_J No, ISHIEET 1 of 2 IFII
Page 40
NAPLES MANOR SIDEWALK PROJECT
DESCRIPTION OF PART TAKEN
Legal Description of Proposed Part Taken
•*# TVP? PS NOT A SURVEY *re
PA RCEL 99 J99.492S W E
5417 WARREN STREET SIDEWALK BASEMENT
DESCRIPTION
A PORTION OF SECTION 29 TAN 50 S RNG 261
PARCEL No. 622:0'J800006
I]ESCRI PTION:
A PORTION OF LOT 5, BLOCK 3 OF THE NAPLES MANOR EXTENSION PLAT AS RECORDED IN
PLAT BOOK 3, PAGE 101 LYING IN THE NORTH HALF OF SECTION 29, TOWNSHIP 50
SOUTH, RANGE 26 EAST, COLLIER COUNTY, FLORIDA.
MORE PARTICULARLY DESCRISW AS FOLLOWS:
BEGINNING AT NORTHEAST CORNER OF SAID LOT 5;
THENCE ALONG THE NORTHERLY RIGHT OF WAY(ROW)LINE Or WARREN STREET (601ROW)
S 50'22'40" W A DISTANCE OF 73,77',
THENCE DEPARTING SAID ROW WITH A CURVE TURNING TO THE LEFT WITH AN ARC LENGTH
OF 46.371, WITH A RADIUS OF 439,85', WITH A DELTA ANGLE OF 06'02'26", WITH A
CHORD BEARING OF N 39'14105" E, WITH A CHORD LENGTH OF 46.351;
THENCE WITH A COMPOUND CURVE TURNING TO THE LEFT WITH AN ARC LENGTH OF
11.251, WITH A RADIUS OF 82.18', WITH A DELTA ANGLE OF 07'5013711, WITH A
CHORD BF„ARING OF N 22'34'59" E, WITH A CHORD LENGTH or 11.24, TO A POINT ON
TUB NORTH LINE OF SAID LOT;
THXUCZ ALONG THE NORTH LINE OF SAID LOT N 88'06'40" E, A DISTANCE OF 23.20'
TO THE POINT OF BEGINNING.
HAVING AN AREA OF 428.73 SQUARE FEET, 0,010 ACRES
NOTE: THE NORTH LINE OF LOT 5 OF SAID PLAT )A-MRS N 08'06'40" E,
Page 41
NAPLES MANOR SIDEWALK PROJECT VALUE ANALYSIS PROPOSED PROPERTY FJGHTS AND IMPROVEMENTS TAKEN
VALUE ANALYSIS PROPOSED PROPERTY RIGHTS AND IMPROVEMENTS TAKEN
The market value of the fee simple interest of the parent tract was previously estimated
via the Sales Comparison Approach to have a unit value of $12.50 per square foot. The
part taken is valued as part of the whole; therefore, this value will serve as a basis of
value for the valuation of the property rights taken.
As previously stated, Parcel No. 99999-492SWE is a perpetual non-exclusive sidewalk
easement. Accordingly, the proposed easement will essentially take the entire bundle of
rights, with the owner only allowed to utilize the proposed easement area for density
calculations.
Since the proposed taking is an easement versus a fee simple taking, the bundle of rights
taken is something less than 100%. However, since the proposed easement precludes
almost all practical uses by the owner, Parcel No. 99999-492SWE is estimated to include
99% of the fee simple value resulting in an estimated overall unit value.
Value of Improvements Taken
The depreciated replacement cost of the improvements taken is based on cost estimates
from Marshall & Swift, a nationally recognized cost service.
Marshall & Swift
Cost Source: Marshall & Swift Section 66, Pages 1-8
No. of Stories Multiplier: 1.000 Local Multiplier: 1.000
Height/Story Multiplier: 1.000 Current Cost Multiplier: 1.220
Perimeter Multiplier: 1.000 Combined Multipliers: 1.220
Site Improvements Taken
Item Unit Type Cost Approx. Multiplier Total
Quantity
Clearing, grading, landscaping Sq. Ft. $2.09 428.73 1.220 $1,096
Total Site Improvement Costs $1,096
Soft Costs
Item Percent Type
Total
Indirect Costs ................ 10.0% % of Site Cost
Total Soft Costs
$110
$110
Total Costs
Total Cost
$1,205
Depreciation: Section 1 of 1
Componentl Eff. Age I Life I Percent Amount
Physical Depreciation: Site 4 15 27% $292
Total Depreciation $292
Depreciated Value of Improvements $913
Rounded $900
Page 42
NAPLES MANOR SIDEWALK PROJECT VALUE ANALYSIS PROPOSED PROPERTY RIGHTS AND IMPROVEMENTS TAKEN
The concluded value of the Land and Property Rights Taken as well as the Improvements
Taken is shown in the following table.
Value Indications Proposed Property Rights and Improvements Taken
Fee Value per % of Indicated Value Square Rounded
SF Fee per SF Feet Indicated Value Value Total Value
Proposed Part Taken - SWE
Encumbered Land Taken $12.50 99% $12.38 428.73 $5,306 $5,300
Improvements Taken $900
Total $6,200
The valuation of the remainder property, as part of the whole is shown in the following
table.
VALUE INDICATIONS REMAINDER PROPERTY, As PART OF THE WHOLE
Market Value of the Parent Tract, Before the Taking: $123,900
Less Market Value of the Proposed Part Taken: $6,200
Total Market Value of the Remainder Property, As Part of the Whole: $117,700
Effective Date(s) November 3, 2021
Page 43
NAPLES MANOR SIDEWALK PROJECT
DESCRIPTION OF REMAINDER PROPERTY AS SEVERED
VALUATION ANALYSIS OF REMAINDER PROPERTY AS SEVERED
DESCRIPTION OF REMAINDER PROPERTY AS SEVERED
The remainder property will consist of the same size and shape as before the taking, since
the proposed property rights to be acquired involve a perpetual non-exclusive sidewalk
easement. However, the remainder property will be encumbered by a perpetual easement
located in the eastern corner of the site. The remainder property's overall access,
availability to utilities, topography, land use designation, and zoning are unchanged.
REMAINDER PROPERTY, AFTER THE TAKING
Land Area:
Total: 0.22585 acres; 9,838 square feet
Shape:
Triangular
Road Frontage/Access:
The remainder property has average access with frontage
as follows:
• Warren Street: 159 feet
• Drainage Ditch: 202 feet
The site has an average depth of approximately 62 feet.
It is a corner lot.
Improvements:
The parent tract is a vacant, landscaped residential lot.
Existing/Proposed Easements and
There is a 900 square foot Communication Systems
Encumbrances:
Right of Way Easement (30' x 30) that is located just
west of the proposed sidewalk easement along the
Warren Street border. We are not aware of any additional
easement, restrictions, or encumbrances that would
adversely affect value before the taking. However, a
current title report was not provided for the purpose of
this appraisal.
Proposed Acquisition:
Proposed perpetual non-exclusive sidewalk easement
consisting of 428.73 feet located at the eastern corner of
the parent tract.
Highest and Best Use
As Vacant
Single-family residential development
Page 44
NAPLES MANOR SIDEWALK PROJECT VALUE ANALYSIS REMAINDER PROPERTY AS SEVERED
VALUE ANALYSIS REMAINDER PROPERTY AS SEVERED
Prior to the taking, the parent tract is encumbered with a 900 square foot Communication
Systems Right of Way Easement (30' x 30') that is located just west of the proposed
sidewalk easement along the Warren Street border. After the taking, there will be a
proposed perpetual non-exclusive sidewalk easement consisting of 428.73 feet located at
the eastern corner of the parent tract.
The proposed sidewalk easement area precludes almost all practical uses by the owner.
Therefore, the proposed easement is estimated to take 99% of the fee simple value of the
area taken. Accordingly, the appraiser has estimated the residual value to proposed
additional easement area to be 1 % of the fee simple value.
The parent tract consists of 0.22585 acres or 9,838 square feet. The remainder property
will also consist of 0.22585 acres or 9,838 square feet. The remainder property's overall
access, availability to utilities, topography, land use designation, and zoning are
unchanged.
Value of Remainder Land
The parent tract is a residential parcel of land containing an area of 0.23 acres, or 9,838
square feet. The parent tract is a vacant, landscaped residential lot. The remainder land
will not be damaged after the taking as the proposed sidewalk easement is located at the
eastern corner of the site and is east of an existing 900 square foot Communication
Systems Right of Way Easement (30' x 30').
The concluded value of the Remainder Property is shown in the following table.
Value Indications Remainder Property, After the Taking
Remainder Property
Land Area - Exclusive of Additional
Encumbered Land Taken
Additional Encumbered Land Taken (SWE)
Fee Value per % of Indicated Value Square Rounded
SF Fee per SF Feet Indicated Value Value Total Value
$12.50 100% $12.50
$12.50 1 % $0.13
9,409.39 $117,617 $117,600
428.73 $54 $100
Improvements $0
Total $117,700
Page 45
NAPLES MANOR SIDEWALK PROJECT
SEVERANCE DAMAGES TO THE REMAINDER PROPERTY
SEVERANCE DAMAGES TO THE REMAINDER PROPERTY
Severance damages are calculated as the negative difference between the value of the
remainder property, as part of the whole, and the value of the remainder property, as
severed. When the value of the remainder property, as severed, is less than the value of
the remainder property, as part of the whole, the difference is the actual measurement of
the damages to the remainder property. When the value of the remainder property, as
severed, is greater than the value of the remainder property, as part of the whole, the
difference is not damage but is considered a benefit. Severance damages are calculated in
the following table.
Severance Damages to the Remainder Property
Value of the Whole $123,900
Less Value of the Part Taken
Value of the Remainder Property as Part of the Whole
Value of the Remainder Property as Severed
Difference (Severance Damages)
Rounded:
COST TO CURE ANALYSIS
$6,200
$117,700
$117,700
Based on the analysis of the remainder property, there is no net cost to cure.
SPECIAL BENEFITS ANALYSIS
$0
$0
Based on the analysis of the remainder property, there are no special benefits.
Page 46
NAPLES MANOR SIDEWALK PROJECT SUMMARY AND CONCLUSION
SUMMARY AND CONCLUSION
Based on the data and analyses developed in this appraisal, I have reconciled to the
following value conclusion(s), as of November 3, 2021, subject to the Limiting
Conditions and Assumptions of this appraisal.
Parcel No. 99999-492SWE
Fee Value per SF %of Fee Indicated Nalue per Square Feet Indicated Value Rounded Value Total Value
Parent Tract Before the Taking
Land $12.50 100% $1210 9,838.12 $122,977 $123,000
Improvements $900
Total $123,900
Proposed Part Taken - SWE
Encumbered Land Taken $12.50 99% $12.38 428.73 $5,306 $5,300
Improvements Taken $900
Total $6,200
Remainder Property, as Part of the Whole $117,700
Remainder Property
Land Area- Exclusive ofAdditional $12.50 100% $12.50 9,409.39 $117,617 $117,600
Encumbered Land Taken
AdditionalEncumbered LandTaken(SWE) $12.50 1% $0.13 428.73 $54 $100
Improvements $0
Total $117,700
Damages $0
Special Benefits $0
Net Damages $0
Summary of Total Compensation
Encumbered Land Taken (SWE) $5,300
Value of Improvements Taken (SWE) $900
Amount Due Owner (SWE) $6,200
Total $6,200
Net Damages $0
Net Cost to Cue $0
Total Amount Due Owner $6,200
Significant Factor
The world, including the United States, is in the midst of a health crisis since early 2020 due to
the rise of COVID 19. The global outbreak was officially declared a pandemic by the World
Health Organization (WHO). The analyses and value opinion(s) in this appraisal are based on
the data available to the appraiser at the time of the assignment and apply only as of the effective
date indicated. No analyses or opinions contained in this appraisal should be construed as
predictions offuture market conditions or value(s).
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions:
It is a hypothetical condition the proposed acquisition and the
proposed roadway improvements have been completed as of the
effective date of the appraisal.
Extraordinary Assumptions:
None.
Page 47
NAPLES MANOR SIDEWALK PROJECT
CERTIFICATION
CERTIFICATION
I certify that, to the best of my knowledge and belief:
1. The statements of fact contained in this report are true and correct.
2. The reported analyses, opinions and conclusions are limited only by the reported
assumptions and limiting conditions, and are my personal, unbiased professional
analyses, opinions and conclusions.
3. I have no present or prospective interest in the property that is the subject of this
report, and have no personal interest with respect to the parties involved.
4. I have no bias with respect to the property that is the subject of this report or to the
parties involved with this assignment.
5. Our engagement in this assignment was not contingent upon developing or
reporting predetermined results.
6. Our compensation for completing this assignment is not contingent upon the
development or reporting of a predetermined value or direction in value that favors
the cause of the client, the amount of the value opinion, the attainment of a
stipulated result, or the occurrence of a subsequent event directly related to the
intended use of this appraisal.
7. The reported analyses, opinions, and conclusions were developed, and this report
has been prepared, in conformity with the requirements of the Code of Professional
Ethics & Standards of Professional Appraisal Practice of the Appraisal Institute.
8. My reported analyses, opinions, and conclusions were developed, and this report
has been prepared, in conformity with the Uniform Standards of Professional
Appraisal Practice
9. The use of this report is subject to the requirements of the Appraisal Institute
relating to review by its duly authorized representatives.
10. Rachel M. Zucchi, MAI, CCIM has made an inspection of the subject property.
11. No one provided significant real property appraisal assistance to the person signing
this certification.
12. We have experience in appraising properties similar to the subject and are in
compliance with the Competency Rule of USPAP.
Page 48
NAPLES MANOR SIDEWALK PROJECT
CERTIFICATION
13. This appraisal is not based on a requested minimum valuation, a specific valuation,
or the approval of a loan.
14. We have not relied on unsupported conclusions relating to characteristics such as
race, color, religion, national origin, gender, marital status, familial status, age,
receipt of public assistance income, handicap, or an unsupported conclusion that
homogeneity of such characteristics is necessary to maximize value.
15. Rachel M. Zucchi, MAI, CCIM has not performed any services, as an appraiser or
in any other capacity, regarding the property that is the subject of this report within
the three-year period immediately preceding the agreement to perform this
assignment
16. As of the date of this report, Rachel M. Zucchi, MAI, CCIM has completed the
continuing education program for Designated Members of the Appraisal Institute.
Rachel M. Zucchi, MAI, CCIM
Florida State -Certified General Real Estate Appraiser RZ2984
rzucchi@rklac.com; Phone 239-596-0801
Page 49
NAPLES MANOR SIDEWALK PROJECT ASSUMPTIONS AND LIMITING CONDITIONS
ASSUMPTIONS AND LIMITING CONDITIONS
This appraisal is based on the following assumptions, except as otherwise noted in the
report.
1. The title is marketable and free and clear of all liens, encumbrances,
encroachments, easements and restrictions. The property is under responsible
ownership and competent management and is available for its highest and best
use.
2. There are no existing judgments or pending or threatened litigation that could
affect the value of the property.
3. There are no hidden or undisclosed conditions of the land or of the improvements
that would render the property more or less valuable. Furthermore, there is no
asbestos in the property.
4. The revenue stamps placed on any deed referenced herein to indicate the sale
price are in correct relation to the actual dollar amount of the transaction.
5. The property is in compliance with all applicable building, environmental, zoning,
and other federal, state and local laws, regulations and codes.
6. The information furnished by others is believed to be reliable, but no warranty is
given for its accuracy.
This appraisal is subject to the following limiting conditions, except as otherwise
noted in the report.
1. An appraisal is inherently subjective and represents our opinion as to the value of
the property appraised.
2. The conclusions stated in our appraisal apply only as of the effective date of the
appraisal, and no representation is made as to the effect of subsequent events.
3. No changes in any federal, state or local laws, regulations or codes (including,
without limitation, the Internal Revenue Code) are anticipated.
4. No environmental impact studies were either requested or made in conjunction
with this appraisal, and we reserve the right to revise or rescind any of the value
opinions based upon any subsequent environmental impact studies. If any
environmental impact statement is required by law, the appraisal assumes that
such statement will be favorable and will be approved by the appropriate
regulatory bodies.
5. Unless otherwise agreed to in writing, we are not required to give testimony,
respond to any subpoena or attend any court, governmental or other hearing with
reference to the property without compensation relative to such additional
employment.
6. We have made no survey of the property and assume no responsibility in
connection with such matters. Any sketch or survey of the property included in
this report is for illustrative purposes only and should not be considered to be
Page 50
NAPLES MANOR SIDEWALK PROJECT ASSUMPTIONS AND LIMITING CONDITIONS
scaled accurately for size. The appraisal covers the property as described in this
report, and the areas and dimensions set forth are assumed to be correct.
7. No opinion is expressed as to the value of subsurface oil, gas or mineral rights, if
any, and we have assumed that the property is not subject to surface entry for the
exploration or removal of such materials, unless otherwise noted in our appraisal.
8. We accept no responsibility for considerations requiring expertise in other fields.
Such considerations include, but are not limited to, legal descriptions and other
legal matters such as legal title, geologic considerations such as soils and seismic
stability, and civil, mechanical, electrical, structural and other engineering and
environmental matters.
9. The distribution of the total valuation in the report between land and
improvements applies only under the reported highest and best use of the
property. The allocations of value for land and improvements must not be used in
conjunction with any other appraisal and are invalid if so used. The appraisal
report shall be considered only in its entirety. No part of the appraisal report shall
be utilized separately or out of context.
10. Neither all nor any part of the contents of this report (especially any conclusions
as to value, the identity of the appraisers, or any reference to the Appraisal
Institute) shall be disseminated through advertising media, public relations media,
news media or any other means of communication (including without limitation
prospectuses, private offering memoranda and other offering material provided to
prospective investors) without the prior written consent of the person signing the
report.
11. Information, estimates and opinions contained in the report, obtained from third -
party sources are assumed to be reliable and have not been independently verified.
12. Any income and expense estimates contained in the appraisal report are used only
for the purpose of estimating value and do not constitute predictions of future
operating results.
13. If the property is subject to one or more leases, any estimate of residual value
contained in the appraisal may be particularly affected by significant changes in
the condition of the economy, of the real estate industry, or of the appraised
property at the time these leases expire or otherwise terminate.
14. No consideration has been given to personal property located on the premises or
to the cost of moving or relocating such personal property; only the real property
has been considered.
15. The current purchasing power of the dollar is the basis for the value stated in our
appraisal; we have assumed that no extreme fluctuations in economic cycles will
occur.
16. The value found herein is subject to these and to any other assumptions or
conditions set forth in the body of this report but which may have been omitted
from this list of Assumptions and Limiting Conditions.
Page 51
NAPLES MANOR SIDEWALK PROJECT ASSUMPTIONS AND LIMITING CONDITIONS
17. The analyses contained in the report necessarily incorporate numerous estimates
and assumptions regarding property performance, general and local business and
economic conditions, the absence of material changes in the competitive
environment and other matters. Some estimates or assumptions, however,
inevitably will not materialize, and unanticipated events and circumstances may
occur; therefore, actual results achieved during the period covered by our analysis
will vary from our estimates, and the variations may be material.
18. The Americans with Disabilities Act (ADA) became effective January 26, 1992.
We have not made a specific survey or analysis of any property to determine
whether the physical aspects of the improvements meet the ADA accessibility
guidelines. In as much as compliance matches each owner's financial ability with
the cost to cure the non -conforming physical characteristics of a property, we
cannot comment on compliance to ADA. Given that compliance can change with
each owner's financial ability to cure non -accessibility, the value of the subject
does not consider possible non-compliance. A specific study of both the owner's
financial ability and the cost to cure any deficiencies would be needed for the
Department of Justice to determine compliance.
19. The appraisal report is prepared for the exclusive benefit of the Client, its
subsidiaries and/or affiliates. It may not be used or relied upon by any other party.
All parties who use or rely upon any information in the report without our written
consent do so at their own risk.
20. No studies have been provided to us indicating the presence or absence of
hazardous materials on the subject property or in the improvements, and our
valuation is predicated upon the assumption that the subject property is free and
clear of any environment hazards including, without limitation, hazardous wastes,
toxic substances and mold. No representations or warranties are made regarding
the environmental condition of the subject property and the person signing the
report shall not be responsible for any such environmental conditions that do exist
or for any engineering or testing that might be required to discover whether such
conditions exist. Because we are not experts in the field of environmental
conditions, the appraisal report cannot be considered as an environmental
assessment of the subject property.
21. The person signing the report may have reviewed available flood maps and may
have noted in the appraisal report whether the subject property is located in an
identified Special Flood Hazard Area. We are not qualified to detect such areas
and therefore do not guarantee such determinations. The presence of flood plain
areas and/or wetlands may affect the value of the property, and the value
conclusion is predicated on the assumption that wetlands are non-existent or
minimal.
22. RKL Appraisal and Consulting, PLC is not a building or environmental inspector.
RKL Appraisal and Consulting, PLC does not guarantee that the subject property
is free of defects or environmental problems. Mold may be present in the subject
property and a professional inspection is recommended.
Page 52
NAPLES MANOR SIDEWALK PROJECT ASSUMPTIONS AND LIMITING CONDITIONS
23. The appraisal report and value conclusion for an appraisal assumes the
satisfactory completion of construction, repairs or alterations in a workmanlike
manner.
24. The intended use of the appraisal is stated in the General Information section of
the report. The use of the appraisal report by anyone other than the Client is
prohibited except as otherwise provided. Accordingly, the appraisal report is
addressed to and shall be solely for the Client's use and benefit unless we provide
our prior written consent. We expressly reserve the unrestricted right to withhold
our consent to your disclosure of the appraisal report (or any part thereof
including, without limitation, conclusions of value and our identity), to any third
parties. Stated again for clarification, unless our prior written consent is obtained,
no third party may rely on the appraisal report (even if their reliance was
foreseeable).
25. All prospective value estimates presented in this report are estimates and forecasts
which are prospective in nature and are subject to considerable risk and
uncertainty. In addition to the contingencies noted in the preceding paragraph,
several events may occur that could substantially alter the outcome of our
estimates such as, but not limited to changes in the economy, interest rates, and
capitalization rates, behavior of consumers, investors and lenders, fire and other
physical destruction, changes in title or conveyances of easements and deed
restrictions, etc. It is assumed that conditions reasonably foreseeable at the present
time are consistent or similar with the future.
Page 53
NAPLES MANOR SIDEWALK PROJECT ADDENDA - APPRAISER QUALIFICATIONS
ADDENDA
*Rn
NAPLES MANOR SIDEWALK PROJECT ADDENDUM A - APPRAISER QUALIFICATIONS
ADDENDUM A
APPRAISER QUALIFICATIONS
*Rn
NAPLES MANOR SIDEWALK PROJECT ADDENDUM A - APPRAISER QUALIFICATIONS
:APPRAISAL AND CONSULTING
RKL Appraisal and Consulting, PLC
COMPANY PROFILE:
RKL Appraisal and Consulting, PLC was founded in 2009 by three designated Members
of the Appraisal Institute. It is our mission to maximize our combined appraisal
experience to provide our clients with the highest quality of Real Estate Appraisal and
Consulting Services.
Rachel M. Zucchi, MAI, CCIM K.C. Lowry, MAI, CPA Louis C. Bobbitt, MAI
Partner / Managing Director Partner Senior Partner (Retired)
rzucchi@rklac.com klowry@rklac.com lbobbitt@rklac.com
BUSINESS FOCUS:
Practice is focused on community/neighborhood shopping centers, retail and office
buildings, industrial warehouse/distribution buildings, residential and commercial
condominium and subdivision projects, hotels and motels, vacant land and special
purpose properties. Specialized services include appraisal review, business valuations,
market feasibility studies, acquisition/disposition counseling, and litigation support in
connection with real estate transactions including bankruptcy, eminent domain, estate
valuations, and matrimonial and equitable distribution. Clients served include banks and
financial institutions, developers and investors, law firms, government, and property
owners.
ACHI L M. ZUCCHI, MAI. CCIM 4500 Executive Drive, Suite 230
Naples, FL 34119-8908
C. LOWRY, MAI, CPA Phone: 239-596-0800
0UIS C. BOSBITT, MAI www.rklac.com
NAPLES MANOR SIDEWALK PROJECT ADDENDUM A - APPRAISER QUALIFICATIONS
PROFESSIONAL QUALIFICATIONS OF
Rachel M. Zucchi, MAI, CCIM
EXPERIENCE:
Partner / Managing Director of RKL Appraisal and Consulting, PLC
Naples, FL (2009 — Present)
President of D&R Realty Group, Inc.
Naples, FL (2009 — Present)
Senior Real Estate Analyst, Integra Realty Resources — Southwest Florida
Naples, FL (2003 — 2009)
Research Associate, Integra Realty Resources — Southwest Florida
Naples, FL (2002-2003)
PROFESSIONAL
Member: Appraisal Institute — MAI Certificate Number 451177
ACTIVITIES:
President: Appraisal Institute Florida Gulf Coast Chapter (2020)
VP/Secretary/Treasurer: Appraisal Institute Florida Gulf Coast Chapter (2017 - 2019)
Region X Representative: Appraisal Institute Florida Gulf Coast Chapter (2017 - 2021)
Board of Directors: Appraisal Institute Florida Gulf Coast Chapter (2015 - 2021)
LDAC Attendee: Leadership Development & Advisory Council
Appraisal Institute - Washington, D.C. (2016, 2017, 2018)
Member: CCIM Institute - CCIM Designation Pin Number 21042
Member: Naples Area Board of REALTORS
Licensed: Florida State Certified General Real Estate Appraiser
License No. RZ 2984
Licensed: Real Estate Broker (Florida)
License No. BK3077672
EXPERT WITNESS:
Qualified as an expert witness in the Twentieth Judicial Circuit Court of Collier County
and Lee County
EDUCATION:
Bachelor of Arts, Major in Economics
Florida Gulf Coast University, 2002
Graduated Magna Cum Laude
Presented at Eastern Economic Association Conference
Successfully completed real estate and valuation courses and seminars sponsored by the
Appraisal Institute and others.
BUSINESS FOCUS:
Actively engaged in real estate valuation and consulting since 2003. Practice is focused on
community/neighborhood shopping centers, retail and office buildings, industrial
warehouse/distribution, multi -family and single-family subdivisions, condominium
developments, hotels/motels, vacant land and special purpose properties. Specialized
services include market feasibility studies and litigation support in connection with real
estate transactions. Clients served include banks and financial institutions, developers and
investors, law firms, government, and property owners. Valuations have been performed for
eminent domain, bankruptcy, estate, matrimonial/equitable distribution, financing, and due
diligence support.
*Rn
NAPLES MANOR SIDEWALK PROJECT ADDENDUM A - APPRAISER QUALIFICATIONS
Ron DeSantis, Governor Julie I. Brown, Secretary
dLLV
b
�
STATE OF FLORIDA
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
FLORIDA REAL ESTATE APPRAISAL BD
THE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THE
PROVISIONS OF CHAPTER 475, FLORIDA STATUTES
15C-
�7
~` ZUCCHI, RACHEL M
4500 EXECUTIVE DRIVE SUITE 23C
�L NAPLES a� FL 34119'�
LICENSE NUMBER: RZ2984
EXPIRATION DATE: NOVEMBER 30, 2022
Always verify licenses online at MyFloridaLicense.com
Do not alter this document in any form.
This is your license. It is unlawful for anyone other than the licensee to use this document.
NAPLES MANOR SIDEWALK PROJECT ADDENDUM B - PROPERTY INFORMATION
ADDENDUM B
PROPERTY INFORMATION
*Rn
Collier County Property Appraiser
Property Summary
Site 5417 Site Zone
Parcel No 62200800006 Address WARREN Site City NAPLES *Note 34113
*Disclaimer IST
Map No.
Strap No.
Section
Township
Range
Acres *Estimated
5B29
508000 3 SSB29
29
50
26
0.27
Legal I NAPLES MANOR EXT BLK 3 LOT 5
Ilage Area CP' 108
Sub./Condo 508000 - NAPLES MANOR EXTENTION
AMENDED PLAT
Use Code 0 0 - VACANT RESIDENTIAL
Latest Sales History
[Nn+ all Calac ara lic+arl !ilia +n Cnnfirlan+iali+vl
Date
Book -Page
Amount
02/24/12
4774-1081
$ 56,700
09/19/11
4723-1527
$ 100
06/02/04
3577-974
$ 131,000
06/24/98
2433-2832
$ 45,000
08/01/82
983-860
$ 0
11 /01 /74
606-1970
$ 0
School Other Total
4.889 6.6608 11.5498
2021 Certified Tax Roll
(Subject to Change)
Land Value
$ 79,817
+)
Improved Value
$ 0
(_)
Market Value
$ 79,817
(-)
10% Cap
$ 65,511
(_)
Assessed Value
$ 14,306
(_)
(_)
School Taxable Value
Taxable Value
$ 79,817
$ 14,306
If all Values shown above equal 0 this parcel was created after the
Final Tax Roll
Collier County Property Appraiser
Property Detail
Site 5417 Site Zone
Parcel No 62200800006 Address WARREN Site City NAPLES *Note 34113
*Disclaimer IST
Name / Address JIMENEZ, YOLANDA
5413 WARREN ST
NAPLES
Permits
Issuer
State I FL Zip 134113
Provided for reference purposes only. *Full Disclaimer. )
Permit # CO Date I Tmp CO , Final Bldg I Type
Land
Calc Code
Units
10#
RESIDENTIAL FF
95.68
Building/Extra Features
# Built Description Area Area
SKETCH OF BOUNDARY SURVEY SURVEY: P0293
Legend:
�—
00.00, EXISTING ELEVATION ^a.
FND. FOUND P.C.P.
PERMANENT CONTROL POINT I.R.
�� a• aCONC. SLAB
A.E. ACCESS EASEMENT
I.E. IRRIGATION EASEMENT
P.L.S
PROFESIONAL LAND SURVEYOR CONCRETE MONUMENT
`�: `
OO.00' PROPOSED ELEVATION
'
B.F.E. BASE FLOOD ELEVATION
B.R. BEARING REFERENCE
I.D. IDENTIFICATION
P.S.M.
I.R. IRON ROD
PROFESIONALSURVEYORAND MAPPER
� NAIL
�� WATER FLOWARROW
B.M. BENCHMARK
P.T.
I.P. IRON PIPE
P.O.B.
POINT OF TANGENCY ASPHALT
EXISTING FIRE HYDRANT DISTANCE &BEARING LIMIT ARROW
POINT OF BEGINNING 1
C. CALCULATED
AN AB
CCABLE TV. RISER
L.B. LAND SURVEYING BUSINESS
L.B.E. LANDSCAPE BUFFER ESMT. P.O.C.
POINT OF COMMENCEMENT WATER VALVE
ANCHOR
C.B. CATCH BASIN
L.C.E. LEE COUNTY UTILITY EASEMENT P.R.C.
P.R.M.
POINT OF REVERSE CURVATURE
PERMANENT REFERENCEMONUMENT COL)
® BRICK PAVER
BREAK LINE (NOT TO SCALE)
C.V.G. CONC VALLEY GUTTER
C.M. CONCRETE MONUMENT
M. FIELD MEASURED
P.U.E.
M.E. MITERED END
POWER POLE
PUBLIC UTILITY EASEMENT
® WELL
��
CENTERLINE
CONC. CONCRETE
D. NAIL &DISK N.& D
R.
R.
PARKER-KALON NAIL
RADIAL
FENCE LINE WOOD DECK
C/O CLEAN OUT
N/A NOT APPLICABLE
RNV
CATCH BASIN
RIGHT OF WAY
OVERHEAD LINE
C.U.E. COUNTY UTILITY EASEMENT
N.R. NON -RADIAL
BOLLARD
D.E. DRAINAGE EASEMENT
R.O.W.
N.T.S. NOT
RIGHT OF WAY
EASEMENT LINE STONES
D.H. DRILL HOLE
ELEC. ELECTRIC BOX
HEAD LIE S.D.
O.H.L. OVERHEAD LINE
T.B.M.
STORM DRAIN � BENCH MARK
TEMPORARY BENCH MARK jLAMP POST
—EDGE OF THE WATER LINE
O.U.E. ORANGE TREE UTIL. ESMT.
PRIMARY STRUCTURE
ENCL. ENCLOSURE
P. PLAT TEL.
TELEPHONE FACILITIES O DRAIN MANHOLE
E.W. EDGE OF WATER
P.I. POINT OF INTERSECTION T.O.B.
TOP OF BANK
SECONDARY STRUCTURE
EPWATER
EDGE OF PAVEMENT
Rc. POINT OF CURVATURE U.E.
UTILITY EASEMENT O SANITARYMANHOLE
PRIMARY PROPERTY LINE
F.F.E. FINISHED FLOOR ELEVATION
P.C.C. POINT OF COMPOUND CURVATURE W.M.
WATER METER CENTER LINE
SECONDARY PROPERTY LINE
FOUNDIT LAND SERVICES CORP.
0 1 0'
20' DATE OF SURVEY DRAWN BY
Surveyor's Notes:
LAND SURVEYOR & MAPPER L.8.8425
05 / 27 / 2021 W.C.
1.
BEARINGS ARE BASED ON THE CENTERLINE OF WARREN STREET, ESTABLISHING AN
ariam0916@founditlandservices.coIm
N ,
ASSUMED BEARING AS SHOWN ON THE PLAT OF RECORD.
��
ICICh — 2O ft. COMPLETION DATE: CHECKED BY
2.
DESCRIPTION AS SHOWN HEREON WAS PROVIDED.
1764 44th Terrace SW, Naples, FL.34116
3.
BASIS OF THIS SURVEY IS DESCRIPTION, RECORDED PLAT, AND MONUMENTATION FOUND
GRAPHIC SCALE
06 / 03l 2021 A.R.T.
PLACE.
754 368 2816
4.
N
NO UNDERGROUND INSTALLATIONS OR IMPROVEMENTS HAVE BEEN LOCATED EXCEPT AS
PROPERTY AND
OWNER INFORMATION
NOTED.
SURVEYORS CERTIFICATE:
5.
THIS SURVEYS OF VISIBLE FEATURES ONLY. UNDERGROUND ENCROACHMENTS, IF ANY,
Property Address.
Parcel I.D.: County/State:
WERE NOT LOCATED.
THIS SURVEY MEETS ALLAPPLICABLE REQUIREMENTS
OF 5417 WARREN ST
6.
ADDITIONS, DELETIONS, REPRODUCTION OF SURVEY DRAWINGS BY OTHER THAN THE
THE FLORIDA STANDARDS OF PRACTICE AS CONTAINED IN
62200800006 Collier/Florida
SIGNED PARTY OR PARTIES IS PROHIBITED BY LAW WITHOUT CONSENT OF THE SIGNED
CHAPTER 5J-17 OF THE FLORIDAADMINISTRATIVE CODE, NAPLES FL 34113
PARTY OR PARTIES.
PURSUANT TO SECTION 472.027 OF THE FLORIDA
Certified to:
Legal Description As Pi rn hed:
7.
THIS SURVEY MAP IS VALID ONLY TO THOSE PERSONS OR ENTITIES NAMED HEREON.
STATUTES.
8.
ELEVATIONS AS SHOWN HEREON IF ANY, ARE BASED ON THE NORTH AMERICAN VERTICAL
JIMENEZ, YOLANDA, It's successors
and/or LOTS 5, BLOCK "3", AMENDED PLAT OF NAPLES MANOR
DATUM OF 1988 (NAVD88).
assigns and the Department of Housing and Urban EXTENSION, ACCORDING TO THE PLAT THEREOF,
9 P 9 RECORDED IN PLAT BOOK 3, PAGE 101, OF THE PUBLIC
9.
PROPERTY LIES IN SECTION 29, TOWNSHIP 50 SOUTH, RANGE 26 EAST, COLLIER COUNTY,
Development as their interests may appear.
RECORDS OF COLLIER COUNTY, FLORIDA.
10.
FLORIDA.
THIS SURVEY WAS CONDUCTED WITHOUT THE BENEFIT OF A COMPLETE TITLE REPORT OR
TITLE ABSTRACT.
EXHIBIT "A" PAGE 1:
11.
THE PROPERTY SHOWN HEREON HAS A STREET ADDRESS OF 5417 WARREN STREET S.T,
COMMENCING AT THE NORTHEASTERLY CORNER OF
NAPLES, FLORIDA. (AS FURNISHED)
Flood Zone Information:
SAID LOT 5, BLOCK 3; THENCE S50°22'40' W, ALONG THE
SOUTHERLY LINE OF SAID LOT 5, BLOCK 3 FOR 82.31
12.
THE EXPECTED USE OF THE PROPERTYAS DESCRIBED HEREON, AS CLASSIFIED IN THE
SAMUELJ. A. TRAVIESO DATE SIGNED Community Name: COLLIER COUNTY
FEET TO THE POINT OF BEGINNING: THENCE CONTINUE
STANDARDS OF PRACTICE (5J-17 OF THE FLORIDAADMINISTRATIVE CODE), IS "SUBURBAN".
PROFESSIONAL SURVEYORAND MAPPERS
Community Number:120067
S5002240"W FOR 30.00 FEET; THENCE N39037'20"W FOR
THE MINIMUM RELATIVE DISTANCE ACCURACY FOR THIS TYPE OF BOUNDARY SURVEY IS 1
FLORIDA CERTIFICATE NO. LS7255. THIS SURVEY MAP IS NOT Panel: 0601 Suffix: H Effective Date:05/16/2012
30.00 FEET; THENCE N50°22'40"E FOR 30.00 FEET;
FOOT IN 7,500 FEET. THE ACCURACY OBTAINED BY MEASUREMENTS AND CALCULATION OF
VALID WITHOUT THE ORIGINAL SIGNATURE AND SEAL OF
Flood Zone: AE B.F.E.= 7.0'
THENCE S39"37 20"E FOR 30.00 FEET TO THE POINT OF
A CLOSED GEOMETRIC FIGURE WAS FOUND TO MEET OR EXCEED THIS REQUIREMENT.
FLORIDA LICENSED SURVEYOR AND MAPPERS.
BEGINNING
* THIS IS NOT A SURVEY •"+
PARCEL 99999-492SWE
5417 WARREN STREET SIDEWALK EASEMENT
SKETCH
A PORTION Or SECTION 29 TWN 50 S RNO 26 E
PARCEL No. 62200800006
LINE
BEARING
DISTANCE
L1
IS 50°22740" W
173477'
L2
IN
88°06'4011 E
23.20'
L.
J CHORD LENGTH
6. 45 \
11. 4
L2
\� 5417 WARREN STREET �' \
/ �4A �; \\\
$ < \
THIS MAP IS NOT VALID WITHOUT THE ORIGINAL
SIGNANRE AND RAISED SEAL OF THE FLORIDA
LICENSED SURVEYOR AND MAPPER.
I CERTIFY THAT THIS MAP WAS MADE UNDER MY DIRECTION AND THAT IT
MEETS THE MINIMUM TECHNICAL STANDARDS SET FORTH BY THE BOARD OF
PROFESSIONAL LAND SURVEYORS IN CHAPTER ,5J�-17.050 THROUGH .052, FLORIDA
ADMINISTRATIVE CODE, PURSUANT TO CHAPTER 472.027, FLORIDA STATUTES,
MARK D. McCLEARY, PSM
FLORIDA REGISTRATION No.
FOR COLLIER COUNTY
DATE SIGNED:
BOARD OF COUNTY COMMISSIONEF
COLLIER COUNTY, FLORIDA
9'RA�SPOR7'A`f1ON GNGIN6EKING �Il'ISION
NAPt», MORMA 34101 (239)ov.e—ium
5417 WARREN STREET
EASEMENT
SIDEWALK
THIS IS NOT A SURVEY
PARCEL 99999-492SWE
5417 WARREN STREET SIDEWALK EASEMENT
DESCRIPTION
A PORTION OF SECTION 29 TWN 50 S RNG 26 E
PARCEL No. 62200800006
DESCRIPTION:
A PORTION OF LOT 5, BLOCK 3 OF THE NAPLES MANOR EXTENSION PLAT AS RECORDED IN
PLAT BOOK 3, PAGE 101 LYING IN THE NORTH HALF OF SECTION 29, TOWNSHIP 50
SOUTH, RANGE 26 EAST, COLLIER COUNTY, FLORIDA,
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT NORTHEAST CORNER OF SAID LOT 5;
THENCE ALONG THE NORTHERLY RIGHT OF WAY(ROW)LINE OF WARREN STREET (60fR0W)
S 50022140" W A DISTANCE OF 73.771;
THENCE DEPARTING SAID ROW WITH A CURVE TURNING TO THE LEFT WITH AN ARC LENGTH
OF 46.371, WITH A RADIUS OF 439.85', WITH A DELTA ANGLE OF 060021261', WITH A
CHORD BEARING OF N 39014105" E, WITH A CHORD LENGTH OF 46.35f;
THENCE WITH A COMPOUND CURVE TURNING TO THE LEFT WITH AN ARC LENGTH OF
11.251, WITH A RADIUS OF 82,181, WITH A DELTA ANGLE OF 0705013211, WITH A
CHORD BEARING OF N 22034159" E, WITH A CHORD LENGTH OF 11.24' TO A POINT ON
THE NORTH LINE OF SAID LOT;
THENCE ALONG THE NORTH LINE OF SAID LOT N 88006140" E, A DISTANCE OF 23.20,
TO THE POINT OF BEGINNING.
HAVING AN AREA OF 428.73 SQUARE FEET, 0.010 ACRES
NOTE: THE NORTH LINE OF LOT 5 OF SAID PLAT BEARS N 88°O6'40" E.
HOARD OF COUNTY COMMISSIONGF
COLLIER COUNTY, FLORIDA
TRANSPORTATION PNGINfi:GRINC DIV7910N
81104 (ezo) znrvcmne
5417 WARREN STREET
SIDEWALK EASEMENT
rzucchi@rklac.com
From: rzucchi@rklac.com
Sent: Thursday, October 28, 2021 4:27 PM
To: 'nabil@njlawflorida.com'
Subject: Parcel 99999-492SWE/5417 Warren St - Yolanda Jimenez
Attachments: Legal 492SWE 07-13-21.pdf
Mr. Joseph,
I have been engaged by Collier County Growth Management to appraise Parcel 99999-492SWE which is a portion of the
property located at 5417 Warren Street, Naples. Collier County informed me that you represent the property owner,
Yolanda Jimenez.
I will be conducting a field inspection of the property within the next couple weeks. If you or your client would like to
attend the inspection or if you have any questions or comments, please contact me. Thank you!
Sincerely,
Rachel
Rachel M. Zucchi, MAI, CCIM
State -Certified General Real Estate Appraiser RZ2984
Partner I Managing Director
RKL Appraisal and Consulting, PLC
4500 Executive Drive, Suite 230 1 Naples, FL 34119
Direct: 239-596-0801
Cell: 239-398-8715
www.rklac.com
NAPLES MANOR SIDEWALK PROJECT ADDENDUM C - COMPARABLE DATA
ADDENDUM C
COMPARABLE DATA
*Rn
NAPLES MANOR SIDEWALK PROJECT
ADDENDUM C - COMPARABLE DATA
Transaction
ID
5991 Date
2/ 19/2021
Name
5285 Dixie Drive Price
$75,000
Address
5285 Dixie Drive Price Per SF
$9.26
City
Naples Financing
Private
Tax ID
62041200001 Property Rights
Fee Simple
Grantor
Francesco Orefice and
Carmela Terribile
Grantee
Elio Bolanos and Mirna Verification Source
Juliana Cifuentes; A Plus
Campos
Realty
Legal Description
Naples Manor Unit 1 Block 3, Lot 2
Site
Acres
0.19 Topography
Cleared
Land SF
8,100 Zoning Type
RSF-4
Road Frontage
60 Flood Zone
Zone AE
Depth
135 Shape
Rectangular
Encumbrance or
None known
Easement
Comments
Cleared parcel located along drainage canal in Naples Manor. Listed in Jan 2021 for $85,000.
*Rn
NAPLES MANOR SIDEWALK PROJECT ADDENDUM C - COMPARABLE DATA
Transaction
ID
5992
Date
4/9/2021
Name
5313 Martin Street
Price
$90,900
Address
5313 Martin Street
Price Per SF
$11.22
City Naples
Tax ID 62098600007
Grantor Eduardo Llorca and Jahel
Llorca
Grantee Sagamore Capital, LLC
Financing
Property Rights
Verification Source
Legal Description Naples Manor Addition Block 9, Lot 37
Cash to seller
Fee Simple
Karen Estremera; Premiere
Plus Realty Co
Site
Acres
0.19
Topography
Cleared
Land SF
8,100
Zoning Type
RSF-4
Road Frontage
60
Flood Zone
Zone AE
Depth
135
Shape
Rectangular
Encumbrance or
None known
Easement
Comments
Cleared parcel located in Naples Manor. Listed in Feb 2021 for $105,900 and reduced to $103,900 and then
$95,900 on 3/22/21.
*Rn
NAPLES MANOR SIDEWALK PROJECT
ADDENDUM C - COMPARABLE DATA
Transaction
iD
5993
Date
10/9/2020
Name
5245 Hardee St
Price
$79,000
Address
5245 Hardee St
Price Per SF
$9.40
City
Naples
Financing
Cash to seller
Tax ID
62092360000
Property Rights
Fee Simple
Grantor
The Bond Group, LLC
Grantee Sagamore Capital, LLC Verification Source Chris Jones; John R
Wood
Legal Description Naples Manor Addition Block 4, Lot 15
Site
Acres
0.2
Topography
Treed
Land SF
8,400
Zoning Type
RSF-4
Road Frontage
60
Flood Zone
ZoneAE
Depth
140
Shape
Rectangular
Encumbrance or
None known
Easement
Comments
Treed parcel located in Naples Manor. Listed in Sept 2020 for $79,000
*Rn
NAPLES MANOR SIDEWALK PROJECT
ADDENDUM C - COMPARABLE DATA
Transaction
ID
5994 Date
8/ 19/2021
Name
183 Palmetto Dunes Cir Price
$167,500
Address
183 Palmetto Dunes Cir Price Per SF
$14.24
City
Naples Financing
Cash to seller
Tax ID
55253880006 Property Rights
Fee Simple
Grantor
All Building and
Maintenance, LLC
Grantee
Anand Deonarine and Verification Source
Marie Orlando; Premiere
Fareeza Solomon
Plus Realty Co
Legal Description
Lely CC Palmetto Dunes Lot 97
Site
Acres
0.3 Topography
Treed
Land SF
11,761 Zoning Type
PUD
Road Frontage
88 Flood Zone
Zone AH
Depth
130 Shape
Rectangular
Encumbrance or
None known
Easement
Comments
Treed parcel located in Lely Country Club. Listed 2/4/21 for $175,000. The property previously sold in 3/2018
for $120,000.
*Rn