GGELTC Agenda 11/14/202220.A.1
AGENDA
Golden Gate Estates Land Trust Committee
Monday, November 14, 2022 - 5:30 p.m.
IFAS Extension
14700 Immokalee Road, Naples, Florida 34120
Committee Members
Chairman: Jeff Curl
Vice -Chairman: Vacant Pratt
Member: Jessica Harrelson
Member: Sarah Huffinan
Member: Vacant
County Staff
Michael Dowling: Collier County Real Property Management
1. Call to order
2. Approval of current agenda
3. Approval of the Special Meeting Minutes from May 12, 2022
4. Approval of Treasurer's Report
5. Funding request by Chief Nolan Sapp, Greater Naples Fire and Rescue District
6. Funding request by Chief Tabatha Butcher, Collier County EMS
7. Interviews for two vacancies: Rae Ann Burton and Aaron Zwiefel
8. Update on advertising remaining properties:
1. Collier County Public Schools (CCPS) — CCPS requests to release two parcels from the
Reserved List, and in exchange, reserve one parcel on the Available List.
2. Collier County Public Utilities — Request to purchase one parcel at fair market value.
3. Transportation — No official requests made for right-of-way or stormwater, but requests
may come pending design of future projects.
9. Other Business
10. Public Comment
11. Next meeting — December — To be determined
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Advisory Board Application Form
Collier County Government
3299 Tamiami Trail East, Suite 800
Naples, FL 34112
(239) 252-8400
Application was received on: 9/21/2022 11:47:54 AM.
Name: Rae Ann Burton Home Phone: 1239 352 7147
Home Address: 12530 31st Avenue NE
City: Naples Zip Code: 34120
Phone Numbers
Business:
E-Mail Address: rEaburton@embargmail.com
Board or Committee: Golden Gate Estates Land Trust Committee
Category: Not indicated
Place of Employment: Retired
How long have you lived in Collier County: 10-15
How many months out of the year do you reside in Collier County: I am a year-round resident
Have you been convicted or found guiltv of a criminal offense (anv level felonv or first degree
misdemeanor only)? Nol
Not Indicated
Do you or your employer do business with the County? No
Not Indicated
NOTE: All advisory board members must update their profile and notify the Board of County
Commissioners in the event that their relationship changes relating to memberships of organizations
that may benefit them in the outcome of advisory board recommendations or they enter into contracts
with the County.
Would you and/or any organizations with which you are affiliated benefit from decisions or
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recommendations made by this advisory board? No
Not Indicated
Are you a registered voter in Collier County? Yes
Do you currently hold an elected office? No
Do you now serve, or have you ever served on a Collier County board or committee? No
Not Indicated
Please list your community activities and positions held:
Republican Committeewoman Precinct 591 Election Poll worker -inspector Golden Gate Estates A
Civic Association -Board Naples Genealogical Society - member Genealogical Society Writer's SIG
Directo
Education:
Associate Degree - Computer Technology Tech = Accounting
Experience / Background
Full Charge Bookkeeper with Truck co, Church (created the accounting software for 8 pastors), Scho
(bookkeeper/Treasurer). Have over 30 years full charge bookkeeper/clerical experience Attend and
speak at BCC and Planning Commission Meetings and attend NIM and do research for these meetin
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Advisory Board Application Form
Collier County Government
3299 Tamiami Trail East, Suite 800
Naples, FL 34112
(239) 252-8400
Application was received on: 8/28/2022 3:01:15 PM.
Name: aaron zwiefel Home Phone: 786-385-1166
Home Address: 14741 14TH AVE SE
City: NAPLES Zip Code: 34117-9108
Phone Numbers
Business: 786-385-1166
E-Mail Address: lazwief@gmail.com
Board or Committee: Golden Gate Estates Land Trust Committee
Category: Not indicated
Place of Employment: Arthrex
How long have you lived in Collier County: 5-10
How many months out of the year do you reside in Collier County: I am a year-round resident
Have you been convicted or found guilty of a criminal offense (anv level felonv or first degree
misdemeanor only)? Nol
Not Indicated
Do you or your employer do business with the County? No
Not Indicated
NOTE: All advisory board members must update their profile and notify the Board of County
Commissioners in the event that their relationship changes relating to memberships of organizations
that may benefit them in the outcome of advisory board recommendations or they enter into contracts
with the County.
Would you and/or any organizations with which you are affiliated benefit from decisions or
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recommendations made by this advisory board? No
Not Indicated
Are you a registered voter in Collier County? Yes
Do you currently hold an elected office? No
Do you now serve, or have you ever served on a Collier County board or committee? No
Not Indicated
Please list your community activities and positions held:
Golden Gate Estates Area Civic Association - Vice President
Education:
Mankato State College - 84-89 FIU 2002-2004
ence / Background
Equipment Eng - Boston Scientific Corp 1998-2007 Princ Equipment Engineer - Boston Scientific Corp
2007-2013 Manufacturiniz Technoloev Specialist - Arthrex 2013-2019 Proiect Manager - Arthrex - 201
sen
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/40 Carroll & Carroll
Real Estate Appraisers & Consultants
APPRAISAL REPORT
FOR
THE COLLIER COUNTY BOARD
OF COUNTY COMMISSIONERS
SUBJECT PROPERTY:
7.38 GROSS ACRES
LOCATED ALONG 58TH AVENUE NE
NAPLES, FL 34120
AT THE REQUEST OF:
ROOSEVELT LEONARD, R/W-AC
SR. REVIEW APPRAISER
COLLIER COUNTY FACILITIES
MANAGEMENT/REAL PROPERTY
3335 TAMIAMI TRAIL E., STE. 101
NAPLES, FL 34112
ASSIGNMENT NO.:
6077D-TS
APPRAISAL EFFECTIVE DATE:
JULY 23, 2022
DATE OF REPORT:
JULY 29, 2022
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Table of Contents
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Table of Contents
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS.........................................................1
CERTIFICATION.....................................................................................................................................
2
SCOPEOF WORK...................................................................................................................................
4
ESTATEAPPRAISED..............................................................................................................................
5
DEFINITION OF MARKET VALUE.....................................................................................................
6
ASSUMEDEXPOSURE TIME................................................................................................................
6
AREAINFORMATION..........................................................................................................................
7
MARKETAREA.....................................................................................................................................17
PROPERTY INFORMATION...............................................................................................................
28
SITEDESCRIPTION..........................................................................................................................
30
SUBJECTPHOTOGRAPHS..............................................................................................................
31
ENVIRONMENTAL CONTAMINATION....................................................................................
35
NATURAL RESOURCE CONCERNS............................................................................................
36
ZONING..............................................................................................................................................
39
ASSESSMENT AND TAXES............................................................................................................
41
FLOODZONE DATA.......................................................................................................................
42
TRANSACTIONAL HISTORY........................................................................................................
43
CURRENTSTATUS...........................................................................................................................
43
HIGHEST AND BEST USE...................................................................................................................
44
CONSIDERATION OF APPROACHES.............................................................................................
44
SALES COMPARISON APPROACH.................................................................................................
45
LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES .............................
46
VACANT LAND COMPARABLES................................................................................................
47
LAND SALES ADJUSTMENT GRID..............................................................................................
54
ESTIMATEOF VALUE.....................................................................................................................
59
ADDENDA.............................................................................................................................................
61
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6077D Report Summary of Important Data & Conclusions
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS
This information is summarized only for convenience. The value given is the final, rounded
conclusion of the appraisal. To use this summary without first reading the appraisal report
could be misleading.
PROPERTY INFORMATION
Property Identification 7.38 acres located along 581h Avenue NE
Naples, FL 34120
Property Description A 7.38-acre canal front parcel located along the south side
of 581h Avenue NE, west of Everglades Boulevard in Naples,
Florida.
Property Type Vacant Land
Owner of Record Collier County
Property ID # 38840040001
CLIENT INFO & VALUE CONCLUSIONS
Client Collier County Facilities Management Department
Intended Use To assist the Collier County Board of County
Commissioners.
Intended Users Collier County Board of County Commissioners
Appraisal Effective Date July 23, 2022
Date of Report July 29, 2022
Date of Inspection July 23, 2022
Purpose of Appraisal Estimate market value "As Is"
Estate Appraised Fee Simple
Interest Appraised 100%
Estimated Market Value $370,000
GENERALINFO
Appraiser Timothy W. Sunyog, MAI
State -Certified General Appraiser RZ 3288
Scope of Work All applicable approaches to value were developed.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
I was not provided with any environmental studies or wetland determinations but based on
the ground cover and information from surrounding properties, the property appears to be
mostly uplands. For purposes of this appraisal, I have assumed the property is 100%
uplands. If an informal wetland determination is conducted on the subject property
indicating the presence of wetlands, I reserve the right to reconsider my opinion of market
value.
HYPOTHETICAL CONDITIONS
None
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6077D Report Certification
CERTIFICATION
I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF:
I personally inspected the subject property and the comparable sales.
The statements of fact contained in this report are true and correct.
The reported analyses, opinions and conclusions are limited only by the reported
assumptions and limiting conditions and our personal, impartial and unbiased
professional analyses, opinions and conclusions.
I have no present or prospective interest in the property that is the subject of this report
and no personal interest with respect to the parties involved.
In the three years immediately prior to acceptance of this assignment I have not
performed any services regarding the subject property as appraisers, or in any other
capacity.
I have no bias with respect to the property that is the subject of this report or the parties
involved with this assignment.
My engagement in this assignment was not contingent upon developing or reporting
predetermined results.
My compensation for completing this assignment is not contingent upon the
development or reporting of a predetermined value or direction in value that favors the
cause of the client, the amount of the value opinion, the attainment of a stipulated result
or the occurrence of a subsequent event directly related to the intended use of this
appraisal.
My analyses, opinions and conclusions were developed, and this report was prepared,
in conformity with the Uniform Standards of Professional Appraisal Practice. I am also
subject to the Code of Ethics and Standards of Professional Practice of the Appraisal
Institute, which includes provisions for peer review.
The use of this report is subject to the requirements of the State of Florida relating to
review by the Florida Real Estate Appraisal Board and to the requirements of the
Appraisal Institute relating to review by its duly authorized representatives.
No one other than the undersigned prepared the analyses, opinions and conclusions
concerning real estate that are set forth in this report.
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6077D
Certification
20.A.6
As of the date of this report, I have completed the requirements of the continuing
education program of the State of Florida, and for Designated Members of the
Appraisal Institute.
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
Carroll 8s Carroll
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Scope of Work
SCOPE OF WORK
All applicable approaches to value were developed and the value conclusion reflects all
known information about the subject property, market conditions, and available data.
The scope of work was:
• Inspected the subject property and the comparable sales
• Reviewed aerial photographs, land use plans, the Land Development Code, plat maps,
and other documentation
• Reviewed how the property relates to its neighborhood and to the broader market area
in development of an opinion of highest and best use
• Researched vacant land comparable sales, listings, and pending sales
• Developed the sales comparison approach
• Estimated the market value of the fee simple estate
• Prepared an appraisal report summarizing the appraisal assignment, the property
appraised, the application of the appraisal methodology, and the logical support for the
value conclusion
Sources of market data included local and regional MLS systems, Costar, LoopNet, public
records, and interviews with real estate brokers.
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Estate Appraised
ESTATE APPRAISED
The estate appraised is the Fee Simple Absolute. For appraisal purposes Fee Simple
Absolute is synonymous with Fee Simple.
The Dictionary of Real Estate Appraisal, Seventh Edition, published 2022 by the Appraisal
Institute, defines Fee Simple Estate as:
Absolute ownership unencumbered by any other interest or estate, subject only to the limitations
imposed by the governmental powers of taxation, eminent domain, police power, and escheat.
We consider easements, but only to the extent that they are known to us. Appraisal of the
fee simple means that an improved property is vacant and available to be put to its highest
and best use.
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6077D Report Definition of Market Value
DEFINITION OF MARKET VALUE
In United States tax law, the definition of Fair Market Value is found in the United States
Supreme Court decision in the Cartwright case:
The fair market value is the price at which the property would change hands between a
willing buyer and a willing seller, neither being under any compulsion to buy or to sell
and both having reasonable knowledge of relevant facts.
United States v. Cartwright, 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S.
Tax Case. (CCH) 9[ 12,926 (1973) (quoting from U.S. Treasury regulations relating to Federal
estate taxes, at 26 C.F.R. sec. 20.2031-1(b)).
ASSUMED EXPOSURE TIME
The reasonable exposure time is assumed to have already occurred as of the appraisal
effective date. The assumed reasonable exposure time was between 3 and 6 months.
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Area Anal
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AREA INFORMATION
COLLIER COUNTY ANALYSIS
An analysis of geography, transportation, population, employment, income, and education
for Collier County is performed using data provided by Site to Do Business, Florida Office
of Economic & Demographic, United States Department of Labor, all recognized source(s).
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Collier County is the most southerly county on Florida's west coast offering mainland
coastal development. Collier County is west of Ft. Lauderdale and south of Tampa. With
2,025 square miles of land area, it is the largest county in Florida. About 63% of the land
area is in public ownership, is set aside for environmental preservation, or is scheduled for
public land acquisition.
The region enjoys a climate that is classified as subtropical. Summers are relatively mild,
and winters are usually frost free. A hard freeze is a rarity. The climate, especially in winter,
is one that attracts and is enjoyable to most people.
The geography of the area runs generally northwest and southeast as indicated by the trend
of the coastline. Beaches extend from the northern county line south to Cape Romano and
then, as the coastline trends further to the southeast, beaches give over to mangrove islands
and swamps. Moving northeastward from the beaches, elevations increase very slowly.
Most of the county is less than 15 feet above mean sea level. Although changes in elevation
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Area Anal
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are gradual, they are well defined by variations in vegetation. Much of the county is, or was
once, wetland. The once plentiful marine resources are largely depleted, but still provide
good sport fishing.
Population centers include the coastal communities of Naples, Marco Island and
Everglades/Chokoloskee. Immokalee, the single large interior community, is in north
Collier County and is the agricultural center of the region.
POPULATION
"The social forces studied by appraisers primarily relate to population characteristics. The
demographic composition of the population reveals the potential demand for real estate,
which makes the proper analysis and interpretation of demographic trends important in an
appraiser's analysis." The total population, it's composition by age and gender, and the rate
of household formation and dissolution strongly influence real property values. (The
Appraisal of Real Estate 141h Edition)
500,000
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
so,000
Collier County Population
2000 2005 2010 2016 2020 2025 2030 2035 2040
Florida Office of Economic & Demograpkic Research and Esri forecasts 2 02 0
Collier County's population has continued to increase year after year. The population has
increased 9.24% as of 2020 from 2016. The population forecasts through 2025 calls for a
continued steady growth cycle with an estimated 8.93% population growth from 2020 to
2025.
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6077D Report Area Analysis
Collier County for years has been one of the nations' fastest growing counties, historically
outperforming the state. Population increases began in 2010, trending once again towards
outperforming the state. Strong growth is expected at 5 to 10% annually through 2025.
Population Change (State vs County)
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25°l0
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W 10%
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2000
2005 2010 2016 2021 2025
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Florida Glace of Economic & Demographic Research and Esri forecasts 2020
-Collier County
-Florida
Collier County is a popular retirement destination. As of 2020, 55.6% of the County's
residents are over the age of 45. The 2025 forecasts depict an aging community with 56.2%
of the population 45 years of age or older.
Population by Age
■ 2010
❑ 2020
■ 2025
Oh 5A 10-14 15-24 25-34 35-44 45.54 55-64 65-74 75-54 35+
Age
U.S. Cen=5 Bureau, Census 2010 Summary File 1. Ersi forecasts for 2020 and 2025
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6077D
Area Anal
EMPLOYMENT
Collier County is a largely service based economy with 37.6% of the employees in the
leisure, hospitality, education, and health service industries and 21.4% in professional,
business, financial and other services. Trade, transportation, & utilities along with
government jobs account for 27.9% of the County's employees. Industries such as natural
resources/mining, construction, and manufacturing make up only 5.4% of the market.
2020 EMPLOYED BY INDUSTRY- COLLIER COUNTY
Mining &
Manufacturing Leisure & Hopitality
Trade,
portation &
Rilties
Education & Hea Rlh
Se"Aces
Office of Econamxc & Denwgraphfc Research, www.edr.sfafe fl.us
Top 11 Largest Employers Collier County -2019
Rank
Company
Employees
1
Publix Super Market
8,728
2
NCH Healthcare System
7,017
3
Collier County School District
5,604
4
Collier County Local Government
5,119
5
Arthrex, Inc
2,500
6
Ritz Carlton- Naples
1,450
7
City of Naples
1,169
8
Moorings Park
888
9
News-Press/Naples Daily News
840
10
Physicians Regional
950
11
Seminole Casino
800
Source: www.swfleda.com/top-100-employers/ as reported in 2019
The unemployment rate in Collier County exceeded the state average by a slight margin in
the years 2009 and 2010. The unemployment rate then declined through 2016 as the
economy improved and, until recently, Collier County's unemployment rates decreased
more rapidly the state.
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Unemployntent Rate (County vs State)
2020
2015
2015
2014
2013
2012
2011
2010
2009
0.0% 2_0% 4.0% 6.0% 8.0% 14.0 12.0% 14.0%
■ Colier County ■ State of Florida
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INCOME
Collier County's per capita income and median household income levels are higher than
state statistics. The most substantial difference between Collier County and the state is the
large percentage difference in household incomes above $100,000 where Collier County
exceeds the state by over 9%. Collier County's percentage household incomes ranging from
$25,000 to $99,999 mirror that of the state but is significantly lower in the percentage of
household incomes under $25,000. Income levels vary greatly within different areas of
Collier County, and so, will be discussed in greater detail in the Market Area descriptions.
TRANSPORTATION
The transportation system reflects local geography, population densities and the primary
motivators of tourism, service industry employment, the construction industry, agriculture,
and leisure activities.
ROADS
The earliest roads were coastal, extending from north to south in the early twentieth century
with the first settlers. Principal among these is US-41, commonly referred to as the Tamiami
Trail because it was built to connect Tampa and Miami. Where it passes through the coastal
community US-41 is a four or six lane divided highway with landscaped medians, curb and
gutter, streetlights and often with concrete sidewalks. The Trail is the principal coastal
arterial and one that defines several important boundaries. Often there is a noticeable land
value difference east and west of US-41 because the affluent coastal population prefers to
shop and trade close to home. As the highway turns southeast from downtown Naples
toward Miami the Trail defines the boundary of the coastal management zone which affects
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development densities and storm evacuation requirements. The eastern segment of US-41
is a designated national scenic highway popular with tourists, especially during the winter
season as they seek adventure in the Everglades.
A system of asphalt surfaced arterials, major collectors, minor collectors, and neighborhood
streets extend into the urban area east and west from US-41. North -south arterials and
major collectors are established about one mile apart. From west to east, these include
Goodlette-Frank Road, Airport -Pulling Road, Livingston Road, Santa Barbara Boulevard
and Collier Boulevard. The east -west grid is spaced about two miles apart; from north to
south being Immokalee Road (CR-864), Vanderbilt Beach Road (CR-862), Pine Ridge Road
(CR-896), Golden Gate Parkway (CR-886), Radio Road (CR-856), Davis Boulevard (SR-84),
and Rattlesnake Hammock Road (CR-864). Within the urban area all of these are at least 4
lane divided highways.
East of Collier Boulevard the road system reflects the economies of scale of Golden Gate
Estates subdivision (the Estates) where 102 square miles of rural subdivision is supported
by a grid system of paved and unpaved 2 lane streets, with 2 and 4 lane asphalt surfaced
major collectors. Golden Gate Boulevard, a 4-lane divided road for five of its eleven miles
east of CR-951, is the principal east -west collector. Everglades Boulevard (2 lane and
asphalt surfaced) is the north -south major collector extending south from Immokalee Road
14 miles to the grade separation at I-75 where it continues into the Picayune Strand State
Forest. Most of the neighborhood streets in Golden Gate Estates are asphalt. Collier
County is planning to extend east -west collectors through the Estates along the alignment of
Vanderbilt Beach Road and somewhere south of Golden Gate Boulevard. A north -south
connection is also planned from the eastern terminus of White Boulevard (Pine Ridge Road)
north to Golden Gate Boulevard.
Interstate highway 75 (I-75) was extended from north to south through Collier County in
the mid-1980s along a flood -proof route about five miles inland. Directly east of the City of
Naples I-75 joins the original alignment of State Road 84 (Alligator Alley) connecting with
Florida's east coast at Ft. Lauderdale. The coastal community I-75 interchanges are spaced
three to four miles apart at Immokalee Road (CR-864), Pine Ridge Road (CR-896), Golden
Gate Parkway (CR-886), and at Collier Boulevard/Davis Boulevard (CR-951/SR-84). Twenty-
one miles east of the coastal community is an interchange at State Road 29; the last
interchange in Collier County. Collier County and the FDOT continue to study the
feasibility of an interchange at Everglades Boulevard.
The advent of I-75 signaled a change in the relationship of Collier County to the rest of
Florida and the United States. While US-41 was the only north -south arterial, Collier
County was dominated by the conservative mid -western influences of seasonal residents
and somewhat isolated from the larger urban areas of Florida. After the late 1980s, road
access to Collier was made much more convenient to the northeast via connections with I-4
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and I-95. This had the effect of broadening Collier's market exposure and it stimulated
growth. The extension of I-75 south into Dade County promoted better access for European
tourists and made Collier County transient lodging attractive for east coast weekenders.
Strategic connections exist where Collier Boulevard and CR-92 extend south and west from
US-41 providing access to the City of Marco Island from the greater Naples area and from
Florida's east coast, respectively. State Road 29 connects the southwest Florida agricultural
center of Immokalee with points north, with the Naples coastal community via CR-846,
with the Ft. Myers coastal community via SR-82, and with US-41 at Everglades City which
is the western gateway to Everglades National Park and the 10,000 Islands region of
Collier's southwest coast.
The road transportation system is well planned, well maintained, and operating at
acceptable capacity. Ambitious road construction projects undertaken in anticipation of
growth projections and funded by impact fees have caught up with development. The road
system reflects Collier's position at the southerly limit of development on Florida's west
coast.
MASS TRANSIT
Collier Area Transit (CAT), operated by Collier County Alternative Transportation Modes
Department, provides inexpensive alternative transportation throughout the county linking
major employment centers of Naples with Marco Island and Immokalee. There are several
circulation routes with stops at the County government complex, hospitals, and major
shopping establishments. The system accommodates bicycle transport and personal items.
The same County department administers the Collier Area Para Transit system which
provides subsidized transportation services for the disabled and economically
disadvantaged.
This is a successful and growing system that connects people with jobs, essential services,
and shopping while reducing transportation costs and road congestion.
AIRPORTS
Collier County is supported by a system of five public airports. Southwest Florida
International Airport (RSW) is located in Lee County 25 miles north of Naples; a 45-minute
drive via I-75 from the Collier center of population. This facility serves the five county
southwest Florida regions offering domestic and international air carrier service. It is
modern, convenient, and has planned expansion to keep up with regional growth.
Naples Municipal Airport (APF) owned by the City of Naples and operated by the
independently constituted Naples Airport Authority which derives its revenue principally
from fuel sales. This small airport (about 1 sq. mi.) is located one mile east of downtown
Naples. It serves the coastal community and is especially convenient to affluent residents
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who own private aircraft, to the corporate convention business of the large beachfront
hotels, and to essential services like mosquito control, Emergency Medical Services (EMS),
the Sheriff's office, and private air ambulance services. The two paved runways (5/23 @
5,290' and 14/32 @ 5,000') will support jets including the G4 and Challenger series. Naples
airport is tower controlled and fully certified for commercial operations and is home to
several aircraft charter services and flight training schools. In 2005, Naples Municipal
Airport accommodated 163,434 aircraft operations, a record high. Annual operations
decreased by nearly 50% from 2005 to 2011. The total operations for 2020 were 104,479,
which is a 5.2% increase from the previous year. Due to its downtown location, Naples
airport has restricted operations of the noisiest jet aircraft and is at the leading edge of noise
abatement measures.
The Collier County Airport Authority owns and operates airports at Marco Island, in
Everglades City, and at Immokalee. These are primarily funded through fuel sales and
hangar leases. Marco Island Airport (MKY) is a very small (64.47 acres) general aviation
facility on the mainland four miles northeast of Marco Island. The single paved runway
(17/35 @ 5,000') will support light jet traffic. Hanger and ramp space is very limited. Fuel is
available. This airport is convenient to Marco Island residents and to the corporate
convention business of the Island hotels. Immokalee Regional Airport (IMM) is one mile
east of Immokalee and 35 miles by road northeast of Naples. This 2 square mile airport has
two paved 5,000-foot runways (18/36 and 09/27) a third diagonal runway is now used as a
weekend drag racing strip. The airport is in a Florida Rural Enterprise Zone and a HUB
Empowerment Zone. A 60-acre zone in and around the airport is a designated Foreign
Trade Zone. To date, the economic potential of this airport is largely unrealized. However,
the field is active as a training destination for coastal -based flight schools, it hosts aerial
firefighting and crop -dusting operations, and it bases numerous private aircraft. The
Everglades Airpark (X01) is a light duty general aviation facility of 29.14 acres is within
walking distance of downtown Everglades City. The single paved strip (15/33 @ 2,400')
supports itinerant coastal traffic and half a dozen -based aircraft. Fuel, a comfortable pilot
center and bicycles are available.
The aviation community is well supported. The greater Naples area is the beneficiary the
winter season influx of corporate executives and affluent individuals who can afford luxury
private jet travel.
Carroll & Carroll 14
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6077D
Area Anal
20.A.6
MARINE TRANSPORTATION
There is no deep -water port and no commercial marine activity other than that associated
with commercial fishing, charter sport fishing, and the marine towing services that support
the pleasure boat industry. The controlling depth to the municipal dock in Naples Bay is six
feet at mean low water. The US Coast Guard maintains a dredged and well -marked
intracoastal waterway from the head of Naples Bay to Coon Key southeast of Marco Island.
Local geography requires vessels northbound from Naples to transit 30 miles of the Gulf of
Mexico before returning to the sheltered intracoastal system at Sanibel Island. According to
the Marine Industries Association of Collier County, as of early 2019 there were 22,749
registered vessels in Collier County. Seasonally, excursions from Marco Island to Key West
and from Ft. Myers Beach to Key West are scheduled daily.
EDUCATION
The Collier County School District provides public education to about 51,905 students
encompassing grades K-12. There are a total of 48 public schools consisting of 29
elementary, 10 middle, 8 high schools and one K-12 (Everglades City School). There are
also 12 alternative school programs. In addition to the public school system there are
numerous private schools scattered throughout the county. The Collier County School
District continues to receive a "B" grade by the State of Florida Department of Education.
By definition, an "A" or "B" grade delineates high performance. Between 2015 and 2020 the
school district had an overall population growth of more than 6,000 students.
52,000
30,000
= 48,000
r
u 46,000
W
c 44,000
r
'a
42,000
40,000
38,000
2020 University Enrollement 2012
Ave Maria University: 1,129
Florida SouthWestern State College: 15,389
Hodges University: 1,676
Florida Gulf Coast University: 15,373
Collier County Public Schools Enrollment
2013 2014 2015 2016 2020
Year
h d ip:llru smn. c d Ii ers cironl s. ca m
Collier County is also home to several colleges and accredited universities. Three colleges
have campuses in Collier County: Ave Maria University, Hodges University and Florida
Southwestern State College (formerly Edison Community College). Ave Maria University is
Carroll & Carroll 15
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20.A.6
6077D Revort Area Anal
a private catholic university that offers both undergraduate and graduate programs
including a law school has around 1,129 students. Florida Southwestern State College with
campuses in Naples, Punta Gorda, and Ft. Myers, offers both two-year and four-year degree
programs for 15,389 students, and Hodges University is a private four-year college that
offers bachelors and master's degrees in 20 disciplines for around 1,676 students. Nearby
Florida Gulf Coast University (located in southern Lee County) is one of the state's fastest
growing institutions and home to over 15,373 students.
CONCLUSION
At the southerly limit of urban development on Florida's west coast, Collier County offers
the climate, natural resources, and sporting opportunities to support a superb retirement
community. The quality of infrastructure, schools, and social services is what one would
expect of such an area. We are experiencing a surge in new development projected to take
us through the next several years. In the long term, the attractions of the climate and
location, and the stability of fixed -account affluence promise continuing prosperity
although probably without the strong emphasis on new development.
Carroll & Carroll 16
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20.A.6
6077D
Market Area
MARKET AREA
Market Area is defined as:
"The geographic region from which a majority of demand comes and in which the
majority of competition is located." (The Dictionary of Real Estate Appraisal Th Edition)
"A market area is defined in terms of the market for a specific category of real estate
and thus is the area in which alternative, similar properties effectively compete with the
subject property in the minds of probable, potential purchasers and users." (The
Appraisal of Real Estate 151h Edition)
A market area includes those surrounding land uses which impact the value of a property
and it can encompass one or more neighborhoods or districts. An appraiser focuses on the
market area in analyzing subject property value influences.
BOUNDARIES
The subject property is located within the Golden Gate area of Collier County. For
appraisal purposes, the Golden Gate or market area boundaries are shown below:
— — — In-rnnk sla
Larry Kikint
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Pen P r!,sla.
Bonita Ave Marla
— — — I Springs
i .
4
Neplas Parke .- 5•---��
M
HOFth Naplcas Vlrh@ rds
Galdan Gatm Fladda
Nall Wl
s
Na IeS last Naples
N
Carroll & Carroll 17
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20.A.6
6077D
Market Area
Introduction
The portion of Golden Gate within this market area is approximately 157 square miles in
size. Three separate land uses are worth noting. Golden Gate City, which is not
incorporated, is a 4-square mile development of high residential density consisting of both
single-family and multifamily units. Commercial services for this market area are
centralized here. The rural estates consist of approximately 116 square miles and is zoned
for estate living. This low -density development serves a rural lifestyle desired by many in
the area. A third area, Orange Blossom PUD located on Immokalee Road, is a 4-square mile
residential subdivision with commercial support near the Immokalee Road and Randall
Boulevard intersection. It is approximately 75% developed with primarily single-family
units. Collier County Fairgrounds, a high school, middle school, and elementary school are
located here.
Demographics for Golden Gate City and rural estates will be discussed separately, where
appropriate, Data for Orange Blossom PUD will be included in the rural estate's
demographics.
Environmental Influences
This area is desired because of mild winter weather and rural lifestyle. Even though it is
inland from the coast there is still easy access to miles of beaches. The Naples area is one of
the very few in Florida that offers adequate public access to a mainland beach. The
subtropical weather allows for year-round recreational opportunities. Boating, swimming,
riding ATVs, and camping are popular activities. Bicycling, walking and jogging are
supported by an extensive network of connected biking and walking paths. Multiple tennis
and pickle ball courts are available, as well as fitness centers.
Golden Gate is known for its clean environment and healthy lifestyle. Residents are drawn
to the rural estates because of wooded lots, native vegetation and abundance of wildlife.
Agriculture uses are permitted; therefore, equestrian activities are common throughout the
estates. Golden Gate City is an urban area served by county parks and a biking/walking
path network.
Governmental Influences
This market area, including Golden Gate City, is governed by Collier County Board of
County Commissioners which serves as chief legislative body and five constitutional
officers: sheriff, clerk of courts, tax collector, supervisor of elections, and property appraiser.
County government is managed by a strong county manager structure. Collier County
provides services which range from average to high quality. However, Collier County is
known for being a difficult county for building and development. The tax burden in
Collier County is lower than the national average.
Carroll & Carroll 18
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20.A.6
6077D Report Market Area
County government has zoning, and comprehensive plan ordinances designed to protect
the character and values of property; to protect and enhance economic development; and to
maintain and enhance the attractive nature of the area.
Public services include fire protection, solid waste disposal, potable water, sanitary sewer
service and storm water drainage. In some areas of Golden Gate Estates where sanitary
sewer is not available, septic systems are permitted. Public/private companies proved
adequate services for electricity, cable, and internet. Community support facilities such as
schools, parks, churches, shopping, and places of employment are all located within this
market area.
Collier County Sheriff Department provides full range of services for Collier County.
According to the statistics listed by Florida Department of Law Enforcement, Collier
County crime index falls in the lowest 16% of all counties in Florida and crime rate has
decreased nine out of the past ten years. About 78% of all crime is either burglary or
larceny. The county averages are representative of conditions in the Golden Gate area.
This market area is served by several arterial roadways. All are six -lane divided highways
with beautifully landscaped medians. Improvements include street lighting and concrete
curb and gutter. North -south arterial roadways include Santa Barbara Boulevard which
connects Rattlesnake Hammock Road to Immokalee Road and Collier Boulevard (SR-951)
which is a major arterial linking Marco Island in south Collier County with Immokalee
Road near the north county line. Development along Collier Boulevard is a mixture of
single/multi-family residential, office, light industrial, institutional, and retail.
The Collier Boulevard thoroughfare anchors a grid of arterial roads spaced about 2 miles
apart, that serve the greater Naples coastal community which lies to the west and has direct
access to I-75.
East -west arterials include Golden Gate Parkway, Pine Ridge Road, and Immokalee Road.
Each one provides direct access to Interstate I-75. Development along Pine Ridge Road is
mainly developed with single family homes and institutional uses. Golden Gate Parkway
and Immokalee Roads have a mixture of single/multi-family residential, office, industrial,
institutional, and retail uses. Another east -west arterial is Vanderbilt Beach Road which is a
direct connection between the Golden Gate area and the Naples beaches and which is
planned to be extended to Wilson Boulevard.
Interstate I-75, which connects Collier County to both North Florida and Florida's east coast,
serves this entire market area and access is provided by three interchanges.
The arterial road system is laid out in a grid pattern that provides adequate traffic flow to
all areas of the county. Commercial development exists at every major intersection; but the
intersections are designed with proper turns lanes and signaling to provide for adequate
Carroll & Carroll 19
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20.A.6
6077D Report Market Area
traffic movement. The road network easily handles traffic demand in the off-season, May
through December. Traffic more than doubles in January, February, March and April
because of seasonal residents and tourists. Even with exceptionally heavy traffic, the road
network usually handles peak traffic demand without major delays.
The rural estates are served by a grid of residential streets and collector roads. The
residential streets, which are two-lane roads with open swales, are located every quarter
mile. Most these roads are paved; however, some residential streets located along the
eastern edge of this market area have yet to be improved. The residential streets feed into
collector roads, which connect to the major arterial highway system. The collector roads
include Santa Barbara Boulevard, Golden Gate Boulevard, Wilson Boulevard, Everglades
Boulevard, Randall Boulevard and Oil Well Road. They are four to six -lanes in the more
populated areas, transitioning to two -lanes in the eastern section of this market area.
Public transportation is provided by a county transit bus service.
Naples Municipal Airport is located outside the market area but is easily accessed by any
resident of the area. The airport is City owned but operated by the independent Naples
Airport Authority. It serves private and commercial aviation, as well as aviation related
activities. It supports government services, such as, Mosquito Control District and Collier
County Sheriff's aviation unit.
Located within the market area is the recently completed Paradise Sports Complex
developed by Collier County. The 60+ acre site is designed with 19 fields to accommodate
football, soccer, field hockey, lacrosse, baseball, and others. There is a 13-acre lake with a
beachfront, food -truck area, a market space, a large lawn, a championship stadium with
seating capacity for 3,500 and an indoor fieldhouse. The total budget for the project was
approximately $80 million dollars.
Social Influences
Golden Gates City is a diverse community of entry level housing. Residents like the small
town feel and consider it a safe place to raise a family. Residential is approximately 95%
built out. Rural estates are attractive for its quiet country living while being in close
proximity to all that the coastal community has to offer. Build out varies in the rural estates
from 95% in the western portion of the market area to 40% or less in the southeastern
location. Per US Census Bureau forecasts, the 2020 population is 72,924 with a projected
growth to 78,730 (7.34% growth) by 2025. This area experiences a lower seasonal
population increase during the winter months than other areas of Collier County.
The median age is 36.3 with 74.3% of the population being 54 and younger. The median
household income is $66,535.26.2% have a bachelor's or professional degree and 24.7%
have some college education. There is an average degree of community involvement
Carroll & Carroll 20
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6077D Report Market Area
through civic organizations, neighborhood groups, social service organizations and political
committees.
The Naples cost of living is 2% higher than the average cost of living in the United States.
Conversely, Florida has a cost of living that is lower than the US average. Of the 25
locations included in the Economic Policy Institute's dataset for Florida, Naples -Marco
Island is the 21st most expensive. In Naples, housing is the category with the highest index
(21% above national average), while taxes are the category with the lowest index (15%
below national average). (Ref. Careertrends.com; cost of living analysis). Golden Gate has
some of the highest density of affordable housing units in Collier County, but because of the
high cost of living, home values can still be out of reach for many moving into Collier
County.
One of the main driving forces impacting growth in this area is the quality of schools. This
market area has 15 public schools: two high schools, three middle schools, and nine
elementary schools. In addition to the public school system, there are three, faith -based
private schools.
Economic Influences
Population increased 10.63% over the last 10 years or 700 people per year. Population is
forecasted to increase an additional 7.96% over the next five years for an average of 1,161
people per year. This trend is consistent with the past sixteen years and should continue
into the near future as buildout continues along the eastern edge of this market area. The
residential population is dominated by working class and young professional residents.
Comparatively, incomes within this market area are less than the county average.
Development trends:
Residential
This market area provides a large range in home values from entry level housing to million -
dollar estates and is the greatest source of vacant residential lots in the county. Values in
Golden Gate City should remain consistent subject only to general market trends. Values in
the eastern rural estates will increase as buildout in the units closest to the coast continues
Median home value in the market area is $286,113 which is lower the than the County's
median home value. Total number of households in the market area is 22,915, of which,
60.2% are owner occupied, 26.3% renter occupied and 13.5% vacant. Vacancy includes
seasonal rentals.
Carroll & Carroll 21
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6077D Report Market Area
•
. �Demographic
Golden Q3M6Colden Gate Estabes prepared by Esrl
AFea: 156.97 square miles
Summary
Census ZOid
2020
2026
Population
65,917
72,cJ24
7a,730
Households
24,774
22,915
24.751
N mi lies
16,467
1a,046
Icl.479
Average HouseWd Size
3.16
3.17
3A7
Owner Ckcupied Horsing Units
14,625
15,945
17.459
Renter Ckinupied Hou" Units
6,149
6,970
7.292
Median Age
34.9
36.3
37.3
77rsdw 2020~20M Arm" Rats
Ana
Fite
National
Population
1-54%
1-33%
0-72%
Households
1-55 %
1-27%
0-72%
Fa mi lies
1-54 %
1-23%
0-64%
owner, HHs
1-93%
1-22%
0-72%
Median Household Income
2-22%
1-51%
1-60%
2020
2=9
Hhi a hsMa by IrKw a
Humber
Perogrt
IirrMfr
Percent
<615,004
1,355
5-9%
1,249
5-0%
$15,000 - $24,999
1,667
7-3%
1,596
5-4%
$25,000 - $34,999
1.925
9-0%
1,740
7-0%
$35,000 - $49,999
2,9aO
13-0%
2,938
11-9%
$40,000 - $74.949
4,979
21-3%
4,964
20-1%
$75,C00 - $94,999
3,474
15-2%
3,694
14-9%
$i00A00{] - $149,999
3,714
16-2%
4,541
18-34i
$150A000-$199.999
1.999
9-3%
2,557
10-3%
$200A000+
1.122
4-9%
1,481
5-09i
Median Household Immme
$66.535
$74,263
Average Household Income
$a6,155
$9.7,275
Per Ca pits Income
$27.699
$31.330
Canis 2O10
2020
2f725
Rtpr LM- by Aye
Nilmber
Peroerl!
Humber
Percent
N wedher
Percent
0-4
4,995
7-4%
4,769
5-5%
5,160
5-13%
5-9
4.904
7A%
4.992
fi-9%
5,266
fi-?%
10 - 141
5,233
7-9%
5,390
7-4%
5,760
7-3%
15 - 19
%176
7-9%
4,939
6-6%
5,264
6-74i
20 - 24
4,342
5-6%
4,598
5-3%
4,406
5-6%
25 - 34
S3,566A
13-0%
14,600
14-5%
10,738
13-61%
35- 44
10,114
15-3%
9,364
12-0%
11,215
14-2%
45- 54
10,346
i5-7%
4,762
13-4%
9,292
11-84i
55 - 64
6,496
9-9%
9,534
13-1%
c},a71
12-5%
65 - 74
3,797
5-7%
5,a44
a-0%
7,490
9-59i
75- 04
1,15"
2-6%
2,578
3-5%
3,405
4-3%
85+
370
0-cl%
664
0-9%
a62
1-1%
Census Z01d
2N120
2029
Race eM Itfhnkgy
Wenber
Percent
tMember
Percent
MrrnEer
Percent
White. Alone
52,319
79A%
56,291
77-2%
59,964
75-2%
Black Alone
6,613
9-1%
7,171
9-8%
a,155
10-4%
American Indian !lane
326
0-5%
340
0-5%
363
0-5%
Asian Alone
737
1-1%
1,110
1-5%
1,341
1-8%
PariFic Islander Alone
14
0-0%
18
0-0%
22
0-0ar.
Some Other Rate None
4.650
7-196
5,733
7-9%
6,343
a-1%
Two or 14ore Races
1,a62
2-9%
2,272
3-1%
2,491
3-2%
Hizsp"r Origin (Any Race)
27,064
41-1%
33,068
45-3%
37,a13
4e-0ar.
Data Mate: Insure Is ■xpra d in current dc4am
6oumc U-5. Cmnms Ekimau, Census 2U10 Summery Flle 1- Esn lk a is rur 2020 and 2a25.
January 25, 2021
Carroll & Carroll 22
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20.A.6
6077D Report
s1 iGraphic Profile
GaIden GetOGA" Cate Estates
,+u+ea! 155-97 square miles
2020 PopLmMm by Haas
'wTM. Bsk /m Jn�. +a naF+c Qh.r Ix�+
2024 Pu nt irQPank O"gln_453%
Harbehahm
3DAW
2SAM
2DAW
isAw
MAW
SAW
a
0
Papulation
20
15
c
5
0
•.il}K it}t Si$If j; S}.ilSIC SS.}.#SJIf SS{W $}5K ifSIC-S:WK iL1lUlf r:141f iISJlf sill llK 514i1f•
Market Area
Prepared ay Esri
2020 PnpublikM bk Age
0.3 #
Lis.5
■ 5-19
■ 25-34
uax ■ 35-44
i3.sx 45-54
O13A%%L31% ■ 55-f 4
■ ds+
200 2025
202&2025 Anal Gmwttk Me!
20Q0 Marne vmWe
n.�
L�,sti
■ �slnnrc
x�,c ■ alas-199K
■ %IN-MIK
ivx ■ %3m-399K
■ sacra—".gtc
aaaa ]a.L% asadr€+
mauWbulds Ht3en HaL hald Income Omm bm pmd Hounnq Units
HautOold Income
Samew U.S. Qnoa ®lanai• Circus ill la SwFdmry Fir J. Bart Grrarts rw 2020 &W 2025.
■ 2o-2>a
■ 2o-2s
ianuary 25, 2021
Carroll 8v Carroll
23
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20.A.6
6077D Report Market Area
Commercial
Commercial development can be categorized in four different groups. Primary commercial
is in Golden Gate City. Second group is newer construction at the arterial road
intersections. Third is neighborhood commercial within the rural estates. Fourth is the
industrial commerce park near Collier Boulevard and the I-75 interchange.
Golden Gate City is the commercial center serving this market area. Santa Barbara
Boulevard, north of Golden Gate Parkway, has a mixture of multi -family residential and
commercial along the east side of the road. Commercial consists of older single story, single
user buildings and 4 to 8 unit strip centers. Businesses include daycare/ preschools,
neighborhood food mart and gas stations, construction company offices, barber shops and
beauty salons and small restaurants. Golden Gate Parkway has a mixture of multi -family
and commercial development along both sides of the roadway. Newer commercial consists
of CVS and Walgreens Pharmacies, bank branches and national fast food restaurants. There
are three older shopping centers, anchored by Winn Dixie and by Ace Hardware. Single
story commercial structures and strip centers house neighborhood businesses such as
barber shops and beauty salons, florists and jewelers; veterinary services and family
medical clinics; and small locally -run restaurants and food marts. Several businesses
consist of automotive support such as gas stations, oil chance and car washes. Professional
services are primarily located in executive suites located near Santa Barbara Boulevard. The
Quality Inn Hotel & Golf Course located at the southwest corner of Golden Gate Parkway
and Collier Boulevard was purchased by Collier County in 2019 and they are still
determining how to redevelop the property. Commercial frontage along the west side of
Collier Boulevard south of Green Boulevard is very similar to commercial along Golden
Gate Parkway in building size, age and use. The exception is that there is a greater density
of national food chains. The second -tier commercial properties, without major road
frontage, are developed with single story warehouse -type structures housing service -
oriented businesses.
Newer commercial development is located along Collier Boulevard where it intersects Pine
Ridge Road and Vanderbilt Beach Road. Each intersection has a shopping center anchored
by either a Publix or Winn -Dixie super market. Out parcel development includes bank
branches and gas station/convenience stores and national pharmacies.
Commercial development in the rural estates is limited because residents have orchestrated
an ongoing effort to prohibit commercial development in the residential areas. The only
neighborhood commercial locations are at the intersection of Wilson Boulevard and Golden
Gate Boulevard and at Randall Boulevard and Immokalee Road, there is also minor
commercial development proposed at the Golden Gate Boulevard and Everglades
Boulevard intersection.
Carroll & Carroll 24
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6077D Report Market Area
The Randall Boulevard and Immokalee Road intersection is where the majority of
commercial development will occur. There is a Publix anchored shopping center and an
additional retail plaza is under construction. Located along the western curve of
Immokalee Road is 47.57 acres zoned Estate and currently owned by Collier County. The
property is under contract to sell to Crown Management Services for $3,750,000 or $78,831
per acre. The sale was approved by the Board of County Commissioners in September 24,
2019. The land is in the process of being rezoned to commercial and this area is located
within the Immokalee Rd./Randall Blvd. Planning Study area. Based on the initial meetings
with residents in the Golden Gate area, all felt like this is a strategic location to
accommodate additional commercial for Golden Gate Estates.
Industrial
Industrial/commercial developments are in the northeast quadrant of I-75 and Collier
Boulevard interchange. White Lake Industrial Corp Park is one of Collier County's three
primary industrial parks. The White Lake Industrial Park contains 144.4 acres and is
approved for 7.80 acres of commercial and 77 acres of industrial. White Lake consists of
newer, good quality flex and warehouse properties and it is home to some of the largest
manufacturing facilities within the county. It is approximately 70-80% built -out.
City Gate Commerce Center contains 288 acres zoned for 2,950,000 S.F. of commercial, light
industry, office, warehouse and distribution. The site has over 3,000 feet of frontage on
Collier Boulevard where a gas station, a 102 room Spring Hill Marriott Hotel and a 100
room Fairfield Inn Marriott have been constructed. The Paradise Sports Complex was also
recently completed. A developer (Uline) recently completed the acquisition of
approximately 102.68 acres of land within City Gate for $45,369,512. Uline has plans to
build a 936,950-square-foot Distribution Center at this site. This project and a potential
Amazon Distribution Center near the corner of Davis and Collier Blvd. will add a number
of jobs to this area. However, this addition will also cause a lot more traffic in the area and
possibly an influx of people moving to the Golden Gate area to be closer to the distribution
centers for work.
Medical
None of Collier County's major medical facilities are located within this market area. The
only major medical center/hospital servicing this area is the Physicians Regional Medical
Center located along Pine Ridge Road, just east of Interstate 75. This is a 201-bed facility
and is one of the county's four major medical centers. The hospital offers a 24-hour
emergency department that provides a full range of traditional emergency services. An
additional NCH emergency room facility was completed at the northeast corner of Collier
Boulevard and Immokalee Road. This is a two-story 19 room, state of the art emergency
room with additional medical space for practicing physicians. The facility was built to help
service the rural estates and all the new residential units being constructed along Collier
Boulevard and Immokalee Road. Physicians Regional is under construction on a similar
Carroll & Carroll 25
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20.A.6
6077D Report Market Area
facility at the southeast corner to serve all the new residential development along
Immokalee Road and the Golden Gates Estates community.
MARKET AREA BUSINESS U iMARY
Total Businesses
1,815
Total Employees
11,615
Total Population
72,24
Employee/Pop. Ratio
16:01
Industry
Businesses
Employees
Health Care/Social Assitance
80
2,909
Construction
458
1,884
Education
39
1,557
Retail Trade
193
1,411
Management/Administration
238
1,223
Accommodation/Food Service
85
950
Other Services
207
793
Finance/Insurance/Real Estate
208
631
Manufacturing
25
617
Wholesale Trade
59
586
Services
154
561
Professional/Scientific/Tech
154
561
Public Administration
32
451
Arts/Entertainment/Recreation
39
395
Transportation
71
316
Agriculture/Mining
8
275
Information
15
59
Utility
2
14
Unclassified Establishments
43
8
U.S. Census Bureau, Census 2010 Summary File 1. Ersi forecasts for2020 and 2025
Health care, construction, education, retail, and management positions dominate the market
area business sector.
Carroll & Carroll 26
Packet Pg. 718
20.A.6
6077D
Market Area
MARKET AREA LIFE CYCLE
Market areas often pass through a four -stage life cycle of growth, stability, decline, and
revitalization.
• Growth - A period during which the market area gains public favor and acceptance.
• Stability - A period of equilibrium without marked gains or losses
• Decline - A period of diminishing demand
• Revitalization - A period of renewal, redevelopment, modernization and increasing
demand.
Most the real estate activity in Golden Gate reflects the growth cycle. The residential and
commercial markets continue to be strong. The growth cycle is expected to continue into the
near future. Because of the age of the structures, the western portion and the city center are
just beginning to experience some revitalization.
CONCLUSION
This continues to be one of the most affordable market areas in Collier County. The houses
within the city center provide entry level housing and the rural area satisfies the desire for
larger lot sizes and rural lifestyle. A well -designed road network provides easy access to
jobs serving the coastal community; coastal beaches and water activities; entertainment
endeavors; and commercial and medical services. This area appeals to a cross section of the
population but primarily to working class families. Development continues to push north
and east where vacant lots still exist. Golden Gate will likely continue to enjoy a healthy
growth while maintaining its affordability.
Carroll & Carroll 27
Packet Pg. 719
20.A.6
6077D Report
PROPERTY INFORMATION
Property Information
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Carroll & Carroll 28
Packet Pg. 720
6077D Report Property Information
b
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Carroll &, Carroll 29
Packet Pg. 721
6077D
Property Information
20.A.6
SITE DESCRIPTIO N
Legal Description
All of Tract 1, Golden Gate Estates, Unit 41, according to
the plat thereof as recorded in Plat Book 7, Page 27, of the
Public Records of Collier County, Florida.
Property ID#
38840040001
Owner of Record
Collier County
Size
The size of the parcel is based on the legal description
obtained for the most recent warranty deed and plat maps.
7.38 gross acres or 321,473 square feet
Easements
The parcel is encumbered by a 60-foot-wide drainage
easement along the western border.
The parcel is also encumbered by a 30-foot-wide road right-
of-way easement along the northern boundary for 58th
Avenue NE. This is a perpetual, non-exclusive, road right -
of way, drainage, and utility easements which preclude
most all practical uses by the owner, but the areas within
the easements can be utilized for density calculations. Such
easements are typical of the area. The gross acreage will be
utilized in the appraisal report.
Shape
Rectangular
487.95'x660'
Frontage
487.95 feet along the south side of 58th Avenue NE
Access
The subject is provided both physical and legal access from
581h Avenue NE. 58th Avenue NE is a 2-lane, east/west
residential street which connects to Everglades Boulevard.
Topography
Based on my physical inspection, the property is generally
level and at road grade.
Ground Cover
The property is in its native state and covered in vegetation
consisting of both native and exotic vegetation including,
slash pines, cabbage palms, palmettos, and Brazilian
pepper.
Utilities
Electricity, telephone and TV cable are available. The
property is currently serviced by well and septic.
Surrounding Land Uses
The subject is surrounded by single-family residences and
vacant residential land.
Site Improvements
None
Carroll & Carroll 30
Packet Pg. 722
6077D
20.A.6
Property Information
SUBJECT PHOTOGRAPHS
View to east along 581h Avenue NE.
(Photo Taken July 23, 2022)
View to the west along 581h Avenue NE.
(Photo Taken July 23, 2022)
Carroll & Carroll 31
Packet Pg. 723
6077D
Property Information
20.A.6
View to the southwest from 58th Avenue NE.
(Photo Taken July 23, 2022)
View to the south from 581h Avenue NE.
(Photo Taken July 23, 2022)
Carroll & Carroll 32
Packet Pg. 724
6077D
Property Information
20.A.6
View to the southeast from 58th Avenue NE.
(Photo Taken July 23, 2022)
View to the south along the drainage canal.
(Photo Taken July 23, 2022)
Carroll & Carroll 33
Packet Pg. 725
20.A.6
6077D Report Property Information
View to the north along the drainage canal.
(Photo Taken July 23, 2022)
Carroll & Carroll 34
Packet Pg. 726
20.A.6
6077D
Propertv Information
ENVIRONM NTAL CONTAM NATION
Observed Contamination
None
Noted Concerns
None
Environmental Assessment
No
Available
Impact on Value
None
Disclaimer
Unless otherwise stated in this report, the existence
of hazardous substances or environmental
conditions including but not limited to asbestos,
polychlorinated biphenyls, petroleum leakage,
agricultural chemicals, urea formaldehyde
insulation, lead paint, toxic mold, et cetera, which
might or might not be present in or on the property
were not called to the attention of the appraiser.
Such tests were not in the appraiser's required
scope of work, the appraiser is not qualified to test
for such substances and conditions and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any such conditions that might exist,
or for the knowledge and expertise required to
discover them.
Carroll & Carroll 35
Packet Pg. 727
20.A.6
6077D
Propertv Information
NATURAL RESOURCE CONCERNS
Condition of Subject
I was not provided with any environmental studies
or wetland determinations but based on the ground
cover and information from surrounding
properties, the property appears to be mostly
uplands.
All plant and animal communities are of interest
and concern. To a greater or lesser degree
depending on the species and the quality of habitat
they occupy, plants and animals inhabiting the
property will invoke some level of scrutiny and will
result in some cost during the permitting process.
Natural Resource Audits Available
No
Impact on Value
N/A
Disclaimer
Specialized natural resource audits were not in the
appraiser's required scope of work, the appraiser is
not qualified to conduct such audits and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any extraordinary natural resource
concerns, or for the knowledge and expertise
re uired to discover them.
Carroll & Carroll 36
Packet Pg. 728
20.A.6
6077D
Propertv Information
FUTURE LAND USE
Ordinance or Plan
Collier County Growth Management Plan (GMP)
Golden Gate Area Master Plan (GGAMP)
Future Land Use Designation
Residential Estates Subdistrict
Purpose of Designation
The property has a future land use designation of
Estates. The Estates designation is characterized by
low density semi -rural residential lots with limited
opportunities for other land uses. Residential
density is limited to a maximum density of one unit
per 2.25 gross acres.
Under the Estates future land use designation there
is no provision for a conditional use and therefore a
conditional use approval requires an amendment to
the GGAMP.
Carroll 8v Carroll 37
Packet Pg. 729
6077D Report
20.A.6
v
F
ESTATES DESIGNATON AGRICULTIIRALl RURAL DESIGNATION
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RURAL GOLDEN GATE ESTATES
FUTURE LAND USE MAP
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Carroll 8v Carroll
Packet Pg. 730
20.A.6
6077D
Propertv Information
ZONING
Ordinance or Land Development
Collier County
Code
Zoning
E - Estates
Purpose or Intent of Zoning
The subject is zoned "E" - Estates District. The
purpose and intent of the Estates district is to
provide lands for low density residential
development in a semi -rural to rural environment.
In addition, several conditional uses including
churches, social and fraternal organizations, child
care centers, private schools, and group care
facilities are available under conditional use
provisions. Permitted uses include single-family
dwellings and Family Care Facilities, and public
schools. Conditional uses permissible in the Estates
district include churches and other places of
worship, social and fraternal organizations, child
and adult care centers, schools and group care
facilities. These conditional uses are strictly
regulated.
Below are the development requirements as set
forth in the Estate Zoning District:
Minimum Lot Area: 98,010 square feet
or 2.25 acres
Minimum Lot Width: 150 feet
Minimum Front Yard Setback: 75 feet minimum
Minimum Side Yard Setback: 30 feet
Minimum Rear Yard Setback: 75 feet
Maximum Building Height: 30 feet
The subject property is a legal conforming lot.
Copies of pertinent sections of the Comprehensive Plan and Land Development Code are
included in my workfile.
Carroll & Carroll 39
Packet Pg. 731
20.A.6
6077D Report Property Information
x
rya Zoning General
BASE E
i DISTRICT Agricultural
MLINICODE More info +•w
ZONENOTEI
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Carroll & Carroll 40
Packet Pg. 732
20.A.6
6077D
Propertv Information
ASSESSMENT AN TAXES
By statute, real estate in Florida is assessed at 100% of fair market value as of January 1st
of the tax year. Since annual tax assessments are based on sales from previous years,
depending upon market trends, assessed values can fall on either side of the current
market value estimate. The tax assessment is usually not a reliable indicator of market
value.
Parcel Tax ID
38840040001
Assessment and Tax Year
2021
Land Assessment
$93,915
Improvement Assessment
$0
Total Assessment
$93,915
10% CAP
($57,530)
AG Exemption
($0)
Taxable Value
$36,385
Ad Valorem Taxes
$0 (Tax exempt)
Non- Ad Valorem Taxes
$0
Total Taxes
$0
Taxing Authority/Jurisdiction
I Collier County
The total assessment is $12,726 per gross acre. The land assessment is consistent with
other similar parcels along 581hAvenue NE. The assessment is less than my estimate of
market value.
The 2021 total assessment reflects a 1.49% decrease from 2020. The 2021 total assessment
increased 183.93% from the 2020 assessed value. Assessed values can be increased a
maximum of 10% annually and therefore the 10% CAP was applied.
The parcel is owned by a government entity and therefore is tax exempt.
Carroll & Carroll 41
Packet Pg. 733
6077D
Propertv Information
20.A.6
FLOOD ZON DATA
Flood Zone
X
Flood Zone Comments
Zone X — Areas subject to inundation by the
0.2% annual chance flood with average
flood depths of less than 1 foot or with
drainage areas less than 1 square mile.
Community Panel Number
12021CO235H
Revised
May 16, 2012
Source
National Flood Insurance Program
Flood Insurance Rate Maps
Carroll 8v Carroll 42
Packet Pg. 734
6077D
Propertv Information
20.A.6
TRANSACTIONAL HISTORY
Sales History
There have been no transactions or transfers
of ownership in the previous three years.
CURRENT STATUS
Subject Listed for Sale/Under Contract
To my knowledge, the subject is not currently
listed for sale or under contract.
Carroll & Carroll 43
Packet Pg. 735
20.A.6
6077D Report Highest and Best Use
HIGHEST AND BEST USE
DEFINITION
The Dictionary of Real Estate Appraisal, 7h Edition, published 2022 by the Appraisal
Institute, defines Highest and Best Use as:
The reasonably probable use of property that results in the highest value. The four criteria that the
highest and best use must meet are legal permissibility, physical possibility, financial feasibility,
and maximum productivity.
METHOD
There are four criteria that must be met in order for a use to be the highest and best use for a
given property. The highest and best use must be:
• Legally permissible.
• Physically Possible.
• Financially feasible.
• Maximally productive.
Ordinarily these criteria are considered sequentially, each step narrowing the range of
alternative uses being considered.
ANALYSIS
SITE AS THOUGH VACANT
Legally Permissible: The zoning ordinance and Growth Management Plan are consistent
in identifying the property for residential uses. The site consists of one oversized parcel
that could be developed with up to two single-family residences.
Physically Possible: The site is level and at road grade and could be developed as one, or
two single-family home sites. The location, surrounding land uses, and the size of the
property suggest some type of single-family use.
Financially Feasible: The financial feasibility of single-family residential development is
good. The single-family residential market continues to be strong, especially new
construction. Single-family residential development is financially feasible.
Maximally Productive: The maximally productive use is that it be developed with one or
two single-family residences.
CONSIDERATION OF APPROACHES
Only the sales comparison approach is appropriate for this vacant parcel.
Carroll & Carroll 44
Packet Pg. 736
20.A.6
6077D Report Sales Comparison Approach
SALES COMPARISON APPROACH
INTRODUCTION
In the sales comparison approach, the subject property is compared with similar properties
that have sold recently or for which listing prices or offering prices are known. Data from
generally similar properties is used, and comparisons are made to demonstrate a probable
price at which the subject property would sell if offered on the market. This approach is
particularly strong when comparable sales data is plentiful and there is good conformity
among properties in the neighborhood.
Following is the procedure to be followed in developing this approach:
Research the market to gather information on sales, listings, and offers to purchase
properties similar to the subject.
2. Verify the information as to factual accuracy and arm's-length market considerations.
3. Identify relevant units of comparison and develop a comparative analysis for each
unit.
4. Compare the subject with comparable sale properties using elements of comparison
and adjust the sale price of each comparable appropriately.
5. Reconcile the various value indicators produced from the analysis of comparables into
a single value indication or a range of values.
The outline above is developed in detail on the following pages.
SALES DATA
A search was made for sales comparable to the subject. The intention was to find
comparable sales in similar locations that offer similar functional utility. Five closed sales
and one pending sale were identified as the best available for analysis.
The sales were analyzed on the basis of dollars per gross acre of land area. This unit value
is commonly employed by the local real estate market and it lends itself well to the analysis.
Comparable land sales data is given on the following pages. Each comparable is identified
by a number which will be used for reference throughout the report. Each comparable is
identified on the location map immediately following this page.
Carroll & Carroll 45
Packet Pg. 737
20.A.6
6077D Report Sales Comparison Approach
LOCATIO MAMF SUBJECT AND VACANT LAND CO ARABLES
Carroll & Carroll 46
Packet Pg. 738
6077D Report Sales Comparison Approach
20.A.6
I
ADDRESS
O. PROPERTY ID N
SALE PRICE
UN T AREA
UN T PRICE
DATE OF RECORDIN G
O.R. BOOK -PAGE
CON RACT DATE
GRANTOR
GRANTEE
FIN GIN
TOPO-ELEVATION L
GROUN COVER
LAN USE DESIGN ION
ZON N G
VACAN LAN COMPARABLE 1
22nd Street SE, Naples, FL 34117
3939240004
$275,000
6.07 acres
$45,305 per acre
Ma04, 2022
6100/1864
March 1, 2022
Anthony I. Lainhart
Lisa B Homes, LLC
C ash to seller
evel and at road grade
Native Vegetation
Ad[sidential EstatesTBubdistrict
- Estates E
Is]
I
I
AN
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Tract 120 less the North 180 feet, Golden Gate Estates Unit No. 51, according to the map or plat thereof as recorded in Plat Book 5, Page 84
and 85, Public Records of Collier County, Florida.
VERIFICATION
Verified through Public Records. The property was listed for $329,900 and was on the market 113 days. According to the listing, the
property is 100% uplands.
Carroll & Carroll
47
Packet Pg. 739
6077D
Sales Comparison Approach
20.A.6
I
ADDRESS
O. PROPERTY ID N
SALE PRICE
UN T AREA
UN T PRICE
DATE OF RECORDIN G
O.R. BOOK -PAGE
CON RACT DATE
GRANTOR
GRANTEE
FIN GIN
TOPO-ELEVATION L
GROUN COVER
LAN USE DESIGN ION
ZON N G
VACAN LAN COMPARABLE 2
16th Avenue NE, Naples, FL 34120
40470320008
$227,900
5.68 acres
$40,123 per acre
epfember 20, 2021
6036/2039
Unknown
Maria Torres
BFH Property Holdings, LLC
C ash to seller
evel and at road grade
Native Vegetation
Ai sidential EstatesMubdistrict D
- Estates E
AN
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Tract 8, Golden Gate Estates Unit No. 73, according to the map or plat thereof as recorded in Plat Book 5, Page 9, Public Records of Collier
County, Florida.
VERIFICATION
Verified through Public Records. The property was not formally listed for sale. As of July 8, 2022 the property was relisted for $275,000.
Carroll 8v Carroll
48
Packet Pg. 740
6077D Report Sales Comparison Approach
20.A.6
I
VACAN LAN COMPARABLE 3
ADDRESS
14th Avenue NE, Naples, FL 34120
O. PROPERTY ID N
40570280006 & 40570240004
SALE PRICE
$220,000
UN T AREA
5.83 acres
UN T PRICE
$37,736 per acre
DATE OF RECORDIN G
Nwember 24, 2021
O.R. BOOK -PAGE
6053/3840
CON RACT DATE
November 4, 2021
GRANTOR
Anthony and Nicholas Ballas
GRANTEE
The Rzewnicki Land Company
FIN GIN
C ash to seller
TOPO-ELEVATION L
evel and at road grade
GROUN COVER
Native Vegetation
LAN USE DESIGN ION
Ai sidential EstatesMubdistrict D
ZON N G
- Estates E
IMPROVEMENTS
None
UTILITIES
Well & Septic
PRIOR SALES
No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
AN
VERIFICATION
Verified through Public Records. The property was listed for $250,000 and was on the market 10 days. According to the listing, the property
looks to be uplands.
Carroll 8v Carroll
49
Packet Pg. 741
6077D
Sales C
son Approach
20.A.6
I
ADDRESS
O. PROPERTY ID N
SALE PRICE
UN T AREA
UN T PRICE
DATE OF RECORDIN G
O.R. BOOK -PAGE
CON RACT DATE
GRANTOR
GRANTEE
FIN GIN
TOPO-ELEVATION L
GROUN COVER
LAN USE DESIGN ION
ZON N G
VACAN LAN COMPARABLE 4
39th Avenue NE, Naples, FL 34120
39890480005
$255,000
5.83 acres
$43,739 per acre
ulyJ20, 2021
5986/3407
May 12, 2021
Ruperty T. Preddie
Betzabe Hussmann and Stefanie Andre
C ash to seller
evel and at road grade
Cleared
ATsidential Estate4;Subdistrict D
- Estates E
I
I
AN
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Tract 8, Golden Gate Estates Unit No. 64, according to the map or plat thereof as recorded in Plat Book 7, Page 64, Public Records of Collier
County, Florida.
VERIFICATION
Verified through Public Records. The property was listed for $278,350 and was on the market 295 days. According to the listing, the
property is 100% uplands.
Carroll & Carroll
50
Packet Pg. 742
6077D Report Sales Comparison Approach
20.A.6
I
ADDRESS
O. PROPERTY ID N
SALE PRICE
UN T AREA
UN T PRICE
DATE OF RECORDIN G
O.R. BOOK -PAGE
CON RACT DATE
GRANTOR
GRANTEE
FIN GIN
TOPO-ELEVATION L
GROUN COVER
LAN USE DESIGN ION
ZON N G
VACAN LAN COMPARABLE 5
68th Avenue NE, Naples, FL 34120
38912120008 & 38912120105
$220,000
5.60 acres
$39,286 per acre
Ma21, 2022
6104/2960
February 21, 2022
Dorinda Peloquin
Naples Funding, LLC
C ash to seller
evel and at road grade
Cleared
Ai sidential EstatesMubdistrict D
- Estates E
AN
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Tract 120, Golden Gate Estates Unit No. 43, according to the map or plat thereof as recorded in Plat Book 7, Page 28, Public Records of
Collier County, Florida.
VERIFICATION
Verified through Public Records. The property was listed for $229,900 and was on the market 41 days. According to the listing, the property
is 100% uplands.
Carroll 8v Carroll
51
Packet Pg. 743
6077D Report Sales Comparison Approach
20.A.6
I
VACAN LAN COMPARABLE 6 (PEN COI
ADDRESS
2320 50th Avenue NE, Naples, FL 34120
O. PROPERTY ID N
38960040004
SALE PRICE
$350,000
UN T AREA
6.48 acres
UN T PRICE
$54,012 per acre
DATE OF RECORDIN G
N/A
O.R. BOOK -PAGE
N/A
CON RACT DATE
June 1, 2022
GRANTOR
Miguel Garcia
GRANTEE
N/A
FIN GIN
C ash to seller
TOPO-ELEVATION L
evel and at road grade
GROUN COVER
Cleared
LAN USE DESIGN ION
ATsidential Estate4;Subdistrict D
ZON N G
- Estates E
I
I
AN
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Tract 1, Golden Gate Estates Unit No. 44, according to the map or plat thereof as recorded in Plat Book 7, Page 29, Public Records of Collier
County, Florida.
Carroll & Carroll
52
Packet Pg. 744
20.A.6
6077D
Sales Comparison Approach
VERIFICATION
Verified the pending sale with Sue Colgan, listing agent. She said that the property is supposed to close in the next few months around
$300,000. The property was listed for $350,000 and was on the market 26 days. According to the listing, the property is 100% uplands. There
are approximately 16 gopher burrows on the property. Sue said if there weren't any gopher tortoise issues is likely would have sold for
around $350,000.
Carroll & Carroll 53
Packet Pg. 745
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20.A.6
6077D Report Sales Comparison Approach
DISCUSSIO OF AWJUSTMENTS
Usually, comparable sale properties are not exactly like the subject property. If a typical
buyer would perceive the difference to be significant, then adjustment(s) must be made to
the comparable sales so that in the end each offers a realistic indication of value for the
subject. Adjusting comparable sales is a two-step process.
First, adjustments are made so that all of the comparable sales meet the standard of a
"market" transaction as outlined in the definition of market value. Customarily, the first
group of adjustments is made before the comparables are reduced to a common unit of
comparison. Included at this stage are adjustments to bring historic sales current to the
appraisal effective date.
The second group of adjustments is made after an appropriate unit of comparison is chosen.
These adjustments account for physical differences like location, physical characteristics and
size. Sometimes adjustment is required for differences in the permitted land use (zoning) or
in the availability of public service (infrastructure). When the adjustment process is
complete, the unit value indications are reconciled and converted into an estimate of value
for the subject.
REAL PROPERTY RIGHTS CONVEYED
This adjustment category is intended to account for the interest, benefits, and rights
inherent in the ownership of real estate. This category reflects the impact on value caused
by the fee simple versus the leased fee interest or the contract rent as opposed to market
rent.
• None of the comparable sales required adjustment in this category.
19DI TIO OF N&LE
This adjustment category is intended to account for a variety of factors that might affect
the purchase price.
Comparable 6 is a pending sale. I was unable to confirm the exact sale price, but the
listing agent said it was around/just above $300,000. I adjusted Comparable 1
downward $40,000 to account for the discounted sale price.
BUILDING IMPRO MENTS
This category of adjustment is intended to account for the positive or negative contribution
to value of building improvements included with the sale of the land. Buildings that made
a positive contribution to the sale price require a negative adjustment. Buildings that were
demolished and removed require a positive adjustment to account for demolition costs
which are treated as part of the purchase price.
Carroll & Carroll 55
Packet Pg. 747
20.A.6
6077D Report Sales Comparison Approach
• N ne of the comparable sales required adjustment in this category.
FINANCING
Adjustments in this category are intended to account for unusual terms of financing that
are not considered equivalent to cash or conventional financing.
• None of the comparable sales required adjustment in this category.
MARKET CHANGE
This adjustment is intended to account for changes in value due to the ebb and flow of
market forces over time.
Land values in the Golden Gate Estates market are appreciating due to the demand for
affordable residential land. The buyers include a mix of individuals who plan to build a
home, investors, and speculative home builders. Sales are presented below that have sold
and resold in the Golden Gate Estates sub -market. The most recent sales indicate the
highest change rates, but due to rising interest rates and inflation, it is too early to tell if
these change rates will continue.
Address Parcel ID# Prior Sale Recent Sale Months Prior Sale Price Recent Sale Price Appreciation Monthly Change
2740 Desoto Blvd S
F41446480007
01/24/22
04/21/22
2.86
$100,500
$110,000
9.45%
3.31%
34th Ave SE
'41718800001
02/18/21
04/11/22
13.71
$40,000
$90,000
125.00%
9.12%
2933 40th Ave SE
"41715120001
09/27/21
04/08/22
6.34
$45,000
$65,000
44.44%
7.01%
3561 36th Ave SE
'41613080007
06/11/21
04/07/22
9.86
$65,000
$95,000
46.15%
4.68%
4659 22nd Ave SE
411167800005
11/05/18
04/06/22
41.03
$37,000
$100,000
170.27%
4.15%
24th Ave SE
'41280920008
09/25/20
03/15/22
17.62
$109,000
$145,000
33.03%
1.87%
18th Ave SE
'41171260000
02/26/21
03/11/22
12.43
$73,500
$135,000
83.67%
6.73%
34th Ave SE
"41711640006
04/19/21
02/14/22
9.89
$79,000
$99,000
25.32%
2.56%
3672 32nd Ave SE
413955600007
04/22/21
02/03/22
9.43
$70,000
$105,000
50.00%
5.30%
Desoto Blvd S
"41167280007
08/24/20
11/22/21
14.96
$52,000
$110,000
111.54%
7.46%
3230 Desoto Blvd S
�41447440004
08/17/18
08/20/21
36.13
$15,000
$33,000
120.00%
3.32%
4629 10th Ave SE
411105840001
05/29/19
06/22/21
24.82
$45,000
$80,000
77.78%
3.13%
4765 28th Ave SE
"41449840000
05/13/16
06/11/21
60.98
$24,900
$49,900
100.40%
1.65%
41124th Ave N
F 7745280006
01/03/20
03/09/21
14.17
$93,000
$135,000
45.16%
3.19%
24th Ave SE
"41168880008
06/10/20
02/05/21
7.89
$28,500
$36,000
26.32%
3.34%
4917 22nd Ave SE
F41171480000
04/06/20
01/07/21
9.07
$45,000
$56,000
24.44%
2.69%
AVG
4.34%
MEDIAN
3.33%
The sales utilized in the report range from a pending sale to just over 12 months old.
Based on the wide range of market change rates and age of the Comparable sales, I applied
a market change rate of 2.50% per month or 30.00% annually.
Carroll & Carroll 56
Packet Pg. 748
20.A.6
6077D Report Sales Comparison Approach
LOCATIO ACCESS/EXPOSURE
This category of adjustment reflects the impact on value caused by the advantages or
disadvantages of a given location.
• None of the comparable sales required adjustment in this category.
UTILITIES/INFRASTRUCTURE
This category of adjustment references the availability and adequacy of the road system,
the public was distribution system and the public wastewater collection system of each
comparable property as that compares with the same services available to the subject
property.
• None of the comparable sales required adjustment in this category.
CO REHENSIVE PLAN/LAND USE
This category of adjustment accounts for differences in the potential land uses
(Comprehensive Plan) or in the specific uses (Zoning) to which a property could be
developed. Differences in value between the subject property and comparable sales might
exist because their highest and best uses are different as a result of government regulation
through zoning and land use controls.
• None of the comparable sales required adjustment in this category.
SIZE/SHAPE
This category of adjustment addresses the effect on the marketability of a given property,
because its physical size/shape might limit the physical utility, or because the size and
term of the financial investment required of an investor/speculator is such that the unit
price is reduced.
• None of the comparable sales required adjustment in this category.
PHYSICAL CHARACTERISTICS
This category of adjustment reflects the physical aspects of a property that impact its use
for development. Physical characteristics included land elevation, soil conditions,
drainage characteristics, threatened or endangered plant and animal species on the
property and the extent and density of covering vegetation.
• I have assumed that the subject property is 100% uplands.
• I analyzed aerials, reviewed the listing history, and interviewed brokers, buyers and
sellers to determine the wetlands associated with the Comparable sales. Based on the
Carroll & Carroll 57
Packet Pg. 749
20.A.6
6077D Report Sales Comparison Approach
information obtained, all six comparables are 100% uplands an no adjustment was
required.
• Comparable 6 has approximately 16 gopher tortoise burrows. Based on information
presented by Nancy Richie, owner of Island Environmental & Marine Services, LLC, the
time and cost associated with relocating gopher tortoises has increased considerably.
Currently, the recipient sites in the area are charging $6,000/tortoise, plus the FWC
Permit/Mitigation fee, and an Agent fee. The time required to obtain all permits is
approximately 8-12 weeks. The total costs associated with relocating each tortoise is
approximately $7,000. The tortoises could also be relocated on the site greatly reducing
the costs. Comparable 6 was adjusted upward 10% for the presence of gopher tortoises.
Carroll & Carroll 58
Packet Pg. 750
20.A.6
6077D Report Sales Comparison Approach
RECAPITULATION OF DATA
After making the adjustments discussed above, the comparable sales indicated the
following unit values:
Comparables
Price Per Gross Acre
of Land Area
1
$50,555
2
$50,213
3
$45,210
4
$56,967
5
$43,289
6
$52,623
RECONCILIATION OF DATA
To arrive at a conclusion regarding the value of the subject site, the comparable sales and
their indications of value should be weighted according to the quality of each as a value
indicator.
Comparables 1, 2, 3, 4, and 5 are all good indicators of value and were given equal weight.
Comparable 6 is a pending sale that is very similar to the subject, but I was unable to verify
the exact price. I did not weight Comparable 6, but the subject should be at or slightly less
than $52,623 per acre.
The range of unit value indications is from $43,289 to $56,967 per acre. The arithmetic mean
of the six comparables is $49,810 per acre and the median is $50,384 per acre. The weighting
process discussed above reflects a unit value of $49,247 per acre.
Based on the range of values and the upward trend of the residential real estate market, I
concluded to a unit value of $50,000 per gross acre.
ESTIMATE OF VALUE
$50,000 per gross acre results in an indication of value for the subject as of July 23, 2022 of
$369,000 (7.38 gross acres x $50,000 per acre) which rounds to $370,000.
Carroll & Carroll 59
Packet Pg. 751
20.A.6
6077D Report Sales Comparison Approach
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
Carroll & Carroll 60
Packet Pg. 752
20.A.6
6077D Report
ADDENDA
(In Order of Appearance)
Page Topic Count Page(s)
Addenda
Page(s)
Assumptions and Limiting Conditions............................................................................ 2
Qualificationsof Appraiser................................................................................................. 2
Carroll 8v Carroll
Packet Pg. 753
20.A.6
6077D
Addenda
ASSUMPTIONS AND LIMITING CONDITIONS
The certification of the appraiser appearing in this report is subject to the following
assumptions and limiting conditions.
ACCEPTANCE OF AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES
ACCEPTANCE OF ALL GENERAL AND EXTRAORDINARY ASSUMPTIONS AND
LIMITING CONDITIONS.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
I was not provided with any environmental studies or wetland determinations but based
on the ground cover and information from surrounding properties, the property appears to
be mostly uplands. For purposes of this appraisal, I have assumed the property is 100%
uplands. If an informal wetland determination is conducted on the subject property
indicating the presence of wetlands, I reserve the right to reconsider my opinion of market
value.
None
HYPOTHETICAL CONDITIONS
GENERAL ASSUMPTIONS AND LIMITING CONDITIONS
1. No responsibility is assumed for the legal description or for matters including legal or title
considerations. Title to the property is assumed to be good and marketable.
2. The property is appraised free and clear of liens and encumbrances.
3. Responsible ownership and competent property management are assumed.
4. The information furnished by others is assumed to be true, correct and reliable. A
reasonable effort was made to verify such information, but the appraiser bears no
responsibility for its accuracy.
5. All engineering is assumed to be correct. The plot plans and illustrative material is
included only to assist the reader in visualizing the property.
6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or
structures that render it more or less valuable. No responsibility is assumed for such
conditions or for arranging for engineering studies that might be required to discover
them.
Carroll 8v Carroll
Packet Pg. 754
6077D
Addenda
20.A.6
7. It is assumed that there is full compliance with all applicable federal, state, and local
environmental regulations and laws.
8. It is assumed that the property is either in compliance with, or is "grandfathered" or
"bested" under, all applicable zoning, use regulations and restrictions.
9. It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any local, state, or national government or
private entity or organization have been, or can be, obtained or renewed for any use on
which the value estimate is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries or
property lines of the property described, and that there is no encroachment or trespass.
11. It is assumed that the subject site and improvements are not contaminated by any
hazardous material or toxic substance. During the property inspection we were sensitive
to obvious signs of contamination and we reported anything unusual. However, we are
not qualified to render professional opinions regarding the existence or the nature of
hazardous materials in or on the subject property. If a definitive opinion is desired, then
the client is urged to retain an expert in the field.
12. The distribution of the total value in this report, between land and improvements, applies
only under the stated program of utilization. The separate allocations for land and
buildings must not be used in conjunction with any other appraisal and are invalid if so
used.
13. Possession of this report, or a copy thereof, does not carry with it the right of publication.
14. Unless previous arrangements were made, the appraisers, by reason of this appraisal, are
not required to give further consultation, testimony, or to be in attendance in court.
Carroll & Carroll
Packet Pg. 755
6077D
Addenda
20.A.6
foo Carroll & Carroll
Real Estate Appraisers & Consultants
Timothy W. Sunyog, MAI
C£RT G£N RZ3288
PROFESSIONAL RECOGNITION
State -Certified General Real Estate Appraiser RZ3288
Earned 12-15-08
MAI Designation Appraisal Institute
Earned 06-24-15
PROFESSIONAL EXPERIENCE
Carroll & Carroll Appraisers & Consultants, LLC, Naples, FL— Principal/Full Time Commercial Real Estate Appraiser,
January 2018 - Present
Carroll & Carroll, Inc., Naples, FL, Full Time Commercial Real Estate Appraiser,
August 2005 -August 2006 & July 2007 — December 2017
Realvest Appraisal Services, Inc., Maitland, FL, Associate Appraiser, September 2006 -June 2007
UBS Financial Services Inc., Orlando, FL., Investments intern, Fall 2003
Florida Real Estate Sales Associate - February 2014 — Present
EDUCATION
Rollins College, Bachelor of Arts — Economics - May 2004
Argus Valuation — DCF Training, February 2012
Continuing Education — Tim Sunyog has met the continuing education requirements of the State of Florida and the
Appraisal Institute
PROFESSIONAL ASSOCIATIONS
Appraisal Institute — Florida Gulf Coast Chapter (Vice President)
Appraisal Institute — Leadership Development & Advisory Council (LDAC)
Naples Area Board of Realtors
CIVIC INVOLVEMENT
Education Foundation — Connect Now Initiative
Relay for Life
Naples Junior Chamber
PRACTICE INCLUDES ASSIGNMENTS INVOLVING
Vacant Land
Multifamily Properties
Office Buildings
Subdivisions
Ad Valorem Tax Analysis
Agricultural Properties
Commercial Condos
Retail Centers
Buy/Sell Decisions
Litigation
Churches
Industrial Buildings
Restaurants
Self -Storage Facilities
Estate Settlement
Carroll & Carroll
Packet Pg. 756
6077D
Addenda
20.A.6
Ron DeSantis, Governor
STATE OF FLORIDA
Halsey Beshears. Secretary
d bpra
EPARTMENT 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
SUNYOG, TIMOTHY WILLIAM
2805 HORSESHOE DRIVE SOUTH
SUITE 100 —*
NAPLES FL 34104 k
LICENSE NUMBER: RZ3288
EXPIRATION DATE: NOVEMBER 30, 2022
Always verify licenses online at MyFlorical-icense.com
❑o not alter this document in any form.
This is your license. It is unlawful for anyone other than the licensee to use this document.
Carroll & Carroll
Packet Pg. 757