Agenda 04/11/2023 Item #16C 1 (Convey property from the GAC Land Trust to the Collier County Water-Sewer District used for the NESA utility projects program)04/11/2023
EXECUTIVE SUMMARY
Recommendation that the Board 1) approve the sale of the property to Collier County Water -Sewer District
in the amount of $370,050; 2) accept such property as the Ex-Officio Governing Board of CCWSD; and 3)
Authorize its Chairman to execute the Statutory Deed and all documents required to transfer the property
for conveying a 7.38 parcel of land held by the GAC Land Trust to be used for the Northeast Service Area
("NESA") utility projects program (GAC Land Sales Fund 605).
OBJECTIVE: To convey property from the GAC Land Trust to the Collier County Water -Sewer District
"CCWSD" used for the NESA utility projects program.
CONSIDERATIONS: On November 15, 1983, Avatar Properties, Inc. (Avatar), and the Board entered into an
Agreement (1983 Agreement) whereby Avatar would convey, in five phases, at no cost to the County, 1,061.5 acres
(+/-) of vacant land (Property) within the geographical boundary of Golden Gate Estates. Avatar completed the
conveyance of all parcels to the County as required by the Agreement.
The Agreement was amended in 1989 and then in 1990. These conveyances came with the stipulation that the
Property, and the money derived from the sale thereof, would be used by Collier County "County" for purposes to
directly benefit the residents of Golden Gate Estates.
The subject of this item is the conveyance of a 7.38-acre parcel of vacant land held in the GAC Land Trust. Public
Utilities Engineering Department's "PUED" staff made the request for the NESA utility projects program. The
referenced parcel will be used for drilling a series of test wells for evaluation of the area's various aquifers for
future wellfield development. Wellfield expansions require a hydrogeological investigation prior to the final
design, permitting, and construction of these facilities. Data from test wells are used for groundwater modeling.
Collier County owns and operates more than 100 public supply wells which have been developed in multiple
phases over the last 50 years. This phase of wellfield development/planning includes a north -south wellfield
alignment that runs along the northernmost leg of the Golden Gate Canal system starting just east of the current
fairgrounds and running north of Immokalee Road. The parcel proposed for test well development sits on this
alignment approximately halfway between areas of known hydrogeological. information, making it a perfect
location for our hydrogeological testing needs. PUED currently proposes to construct up to six wells: two of them
500 to 900 feet deep for brackish water supply evaluation and four shallower freshwater wells for freshwater
evaluation to depths of about 100 feet. The site will need to be available to allow enough time to procure a
contractor for construction, procure materials, test the wells, and then fully evaluate the aquifers over time. PUED
intends to maintain some or all of these test wells for monitoring the impacts of the production wellfield once
completed. Each well will result in about a one- to three -foot -high well pipe protruding above ground and a
concrete pad with bollards for protection of the test wells from damage. The remainder of the well is located
underground.
PUED will be installing three large (16-inch foot) pipelines along Everglades Boulevard. The subject property
may be used for storing materials for the project. Said property is within a suitable distance from the pipelines and
would provide easy access by the contractor. Due to delays in material delivery times, the County has been
purchasing materials in advance of construction so that delays due to material delivery are minimized, and to save
state sales tax.
A future extension of the Immokalee Road Rural Village Wellfield is planned in this area, and the site may be
used for future production wells. A directional drill (or open cut) under the canal, for piping connecting the well
sites, can also be constructed for this purpose.
The subject property is being purchased from the Golden Gate Estates Land Trust in the amount of $370,000. The
selling price has been determined by an appraisal performed by Carroll and Carroll dated July 29, 2022. Avatar has
agreed to the disposition of the property as shown in the Reverter Discharge and Release that is back-up to this
item.
Staff provides the Board with an update every five (5) years advising of the remaining acreage in the Land Trust, as
well as those properties being reserved for future governmental use. The last update was presented to the Board on
I Packet Pg. 732
04/11/2023
May 29, 2019, Item 16 C 3. To date, out of the original 1,061.5 (+/-) acres donated by Avatar, 1,008.07 acres have
been sold. There are 28.87 acres currently remaining for sale, and 24.56 of that acreage are reserved by
governmental agencies that include the School District (23.07 acres) and North Naples Fire Control and Rescue
District (1.49 acres) for future conveyance.
GAC ADVISORY BOARD RECOMMENDATION: The Golden Gate Estate Land Trust Advisory Committee
"Committee" first discussed the sale of the property on November 14, 2022. At that meeting, PUED Staff
explained the need for the property. The Committee requested additional time to review the appraisal and tabled the
vote to a future meeting. At a special meeting held on December 13, 2022, the Committee voted 3-0 not to accept
the appraisal and requested that the Board sell the property at $406,000, which the Committee perceives to be more
reflective of the current market.
FISCAL IMPACT: All proceeds from the sale and recording fees should not exceed, $370,050, shall be
withdrawn from Fund 412, Cost Center 273512, Object Code: 761100, Project: 70194.8.1.3 (North East Utility
Facilities) and deposited in the GAC Trust - Land Sales (605). To date, GAC has funded $3,124,847 in projects in
Golden Gate Estates.
GROWTH MANAGEMENT IMPACT: There is no impact to the Collier County Growth Management Plan.
LEGAL CONSIDERATIONS: Chapter 125.39, Florida Statutes, expressly exempts certain transactions from the
advertisement requirements and other process requirements set forth in Chapter 125.35, Florida Statutes, and
provides:
125.39 Non -applicability to county lands acquired for specific purposes. The provisions of this law
shall not be construed to cover the sale or disposition of any land conveyed to any county for a
specific purpose and containing a reversionary clause whereby said land shall revert to the grantor
or grantors upon failure to use said real property for such purpose.
This provision explicitly supports the method used and required by the 1983 Agreement. To date, there has not
been a legal challenge to any transaction made in the program and Avatar has been extremely cooperative in
facilitating the disposition of the parcels.
As such, this Item is approved as to form and legality and requires majority vote for approval. -RTT
RIECOMMENDATION: To 1) approve the sale of the property to Collier County Water -Sewer District in the
amount of $370,050; 2) accept such property as the Ex-Officio Governing Board of CCWSD; and 3) Authorize its
Chairman to execute the Statutory Deed and all documents required to transfer the property for conveying a 7.38
parcel of land held by the GAC Land Trust to be used for the Northeast Service Area utility projects program (GAC
Land Sales Fund 605).
Prepared by: Vivian Rodriguez, Property Acquisition Specialist, Facilities Management Division
ATTACHMENT(S)
1. [Linked] Appraisal (PDF)
2. Statutory Deed with Reverter Discharge & Release (PDF)
3. Minutes GAC Meeting (PDF)
I Packet Pg. 733
04/11/2023
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.C.1
Doe ID: 24768
Item Summary: Recommendation that the Board 1) approve the sale of the property to Collier County Water -
Sewer District in the amount of $370,050; 2) accept such property as the Ex-Officio Governing Board of CCWSD;
and 3) Authorize its Chairman to execute the Statutory Deed and all documents required to transfer the property for
conveying a 7.38 parcel of land held by the GAC Land Trust to be used for the Northeast Service Area ("NESA")
utility projects program (GAC Land Sales Fund 605).
Meeting Date: 04/11/2023
Prepared by:
Title: — Facilities Management
Name: Vivian Rodriguez
02/28/2023 2:16 PM
Submitted by:
Title: — Facilities Management
Name: John McCormick
02/28/2023 2:16 PM
Approved By:
Review:
Facilities Management Jennifer Belpedio Manager - Real Property
Public Utilities Planning and Project Management Craig Pajer
Facilities Management John McCormick Director - Facilities
Corporate Compliance and Continuous Improvement Megan Gaillard
Public Utilities Department
Public Utilities Department
County Attorney's Office
Office of Management and Budget
County Attorney's Office
Office of Management and Budget
Office of Management and Budget
County Manager's Office
Board of County Commissioners
Drew Cody
Level 1 Division Reviewer
George Yilmaz
Level 2 Division Administrator Review
Ronald Tomasko
Level 2 Attorney of Record Review
Debra Windsor
Level 3 OMB Gatekeeper Review
Jeffrey A. Klatzkow Level 3 County Attorney's Office Review
Laura Zautcke
Additional Reviewer
Susan Usher
Additional Reviewer
Ed Finn
Level 4 County Manager Review
Geoffrey Willig
Meeting Pending
Completed
03/07/2023 4:27 PM
Additional Reviewer
Completed
03/10/2023 2:43 PM
Completed
03/10/2023 2:47 PM
Additional Reviewer
Completed
03/10/2023 8:42 PM
Completed
03/15/2023 10:59 AM
Completed
03/16/2023 10:09 AM
Completed
03/20/2023 8:56 AM
Completed
03/20/2023 9:15 AM
Completed
03/20/2023 11:25 AM
Completed
03/21/2023 11:53 AM
Completed
03/21/2023 3:24 PM
Completed
04/03/2023 6:00 PM
04/11/2023 9:00 AM
I Packet Pg. 734 1
STATUTORY DEED
THIS DEED, made this day of 12023, by COLLIER COUNTY, A POLITICAL
SUBDIVISION OF THE STATE OF FLORIDA, BY ITS BOARD OF COUNTY COMMISSIONERS, ACTING IN
THEIR CAPACITY AS TRUSTEE OF THE GAC LAND TRUST, whose mailing address is in care of Real
Property Management, 3335 East Tamiami Trail, Suite 102, Naples, Florida 34112, (hereinafter called the
"Grantor"), to BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA, AS THE
GOVERNING BODY OF COLLIER COUNTY AND AS THE EX-OFFICIO GOVERNING BOARD OF THE
COLLIER COUNTY WATER -SEWER DISTRICT, whose post office address is in care of Real Property
Management, 3335 Tamiami Trail East, Suite 102, Naples, Florida 34112, (hereinafter called the "Grantee").
(Whenever used herein the terms "Grantor" and "Grantee" include all the parties to this instrument and
the heirs, legal representatives and assigns of individuals, and the successors and assigns of corporations.)
WITNESSETH that the Grantor, for and in consideration of the sum of Ten Dollars, ($10.00) to it in
hand paid by the Grantee, receipt whereof is hereby acknowledged, has granted, bargained, and sold to the
Grantee, his heirs and assigns forever, the following described land lying and being in Collier County, Florida,
hereinafter referred to as the Lands, to wit:
All of Tract 1, Golden Gate Estates, Unit 42, according to the Plat thereof as recorded in Plat Book 7, at
Page 27, of the Public Records of Collier County, Florida. (Folio 38840040001)
Subject to easements, restrictions, and reservations of record.
WITNESSETH that Grantee agrees and warrants that the Lands shall be utilized for the purpose of
drilling a series of hydrogeologic test wells for evaluation of the area's various aquifers for future wellfield
development.
In the event the Lands cease to be utilized by the Grantee for the purposes set forth in this Deed, said
Lands shall be offered back to the Grantor to purchase said Lands at a price equal to the actual purchase price
at the time of conveyance. Grantor shall have the right to approve or decline the offer to purchase.
Avatar Properties Inc. has provided a "Reverter Discharge and Release" recorded in the Public Records
of Collier County, Florida, on May 20, 2022, OR Book 6129, Page 3658, approving the conveyance of the
Lands.
This Deed represents the entire agreement between the parties, and no promise, representation,
warranty or covenant not included in this Deed has been or is being relied upon by either party.
IN WITNESS WHEREOF the said Grantor has caused these presents to be executed in its name by its
Board of County Commissioners acting by the Chairman or Vice Chairman of said Board, the day and year
aforesaid.
ATTEST:
CRYSTAL K. KINZEL, Clerk of the
Circuit Court and Comptroller
By:
, Deputy Clerk
Approved as to form and legality:
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
By:
RICK LOCASTRO, Chairman
Ronald T. Tomasko,
Assistant County Attorney
F—Packet Pg. 735
INSTR 6255811 OR 6129 PG 3658 RECORDED 5/20/2022 4:10 Pm PAGES 3
CLERK OF THE CIRCUIT COURT AND COMPTROLLER, COLLIER COUNTY FLORIDA
REC $27.00
REVERTER DISCHARGE & RELEASE
Avatar Properties, Inc.
KNOW ALL MEN BY THESE PRESENTS.- Avatar Properties Inc., a Florida Profit Corporation, f/k/a GAC
Properties Inc., First Party, for and in consideration of the sum of Ten and No Cents ($10.00) Dollars, and other
valuable considerations" received from or on behalf of Collier County, a political subdivision of the State of
Florida, Se h6, eceipt whereof is hereby acknowledged (wherever used herein the terms "First Party"
and "Second Party" "sh -inchide all the panics to this instrument and their respective successors and assigns),
HEREBY remises, relel-ses,', quits. satisfies, and forever discharges: (1) the First Party's reverter right under
Paragraph 5. (2) the mf;pal "I�s right of first refusal contained in Paragraph S; and (3) the appraisal
requirements contained in.- g 11 ph 7 (requirement to halvc a M.A.I. or S.R.A. credentiated appraiser and
requirement that appraisals'2 undertaken and dated within 120 days of the closing date of the transaction), all
pan of the Agreement dated IN `_ 6'
ovep,�pr 5, 1983, as amended*, between Avatar Properties Inc., f/k/a GAC
Properties Inc., and Collier CouAfS�. a litical subdivision of the State of Florida, as recorded in Official Records
Book 1340 at Page 270, in the Publi.' cords \ of Collier County, Floridafior the lands described as:
THE WEST ISO FEET OF TRACT K3, GOLDEN GATE ESTATES, UNIT NO. 95, ACCORDING TO
THE PLAT THEREOF, AS RECC Ep.,�,JN PLAT BOOK 9, AT PAGE 45, OF THE PUBLIC
RECORDS OF COLLIER COUNTY, FLI;)�140 .(Folio: 41824360008)
THE EAST 75 FEET OF THE EAST I51Tf
,,RET� O)F,,,TRACT 116, GOLDEN GATE ESTATES, UNIT
NO. 78, ACCORDING TO THE PLAT THERE -AS�RECORDED IN PLAT BOOKS, AT PAGE 16,
JW, �
OF THE PUBLIC RECORDS OF COLLIER COU
�PLJ�LORIDA. (Folio: 40749320001)
NO. 17, ACCORDING TO THE PLAT
THEREOF, AS RECORDED IN PLAT BOOK 5 AND 6 OF THE PUBLIC RECORDS
ALL OF TRACT, 89, GOLDEN GATE ESTATF
OF COLLIER COUNTY, FLORIDA. (Folio: 3744584006V)
&
THE EAST 75 FEET OF THE WEST 180 FEET OF TRAC-T- "_�,OLDEN GATE ESTATES, UNTIL
NO. 73, ACCORDING TO T14E PLAT THEREOF. AS RE PLAT BOOK 5. AT PAGE 9,
OF TI IE PUBLIC RECORDS OF COLLIER COUNTY, FLO lio: 40474920006)
THE SOUTH 75 FEET OF THE SOUTH 150 FEET OF TRACT 1.03- -,GOLDEN GATE ESTATES,
UNIT NO. 73, ACCORDING TO THE PLAT THEREOF, AS IN PLAT BOOK 5, AT
PAGE9, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FL�RIQ'' -(Folio: 40478280001)
it d"
ALL OF TRACT 1, GOLDEN GATE ESTATES, UNIT 42, ACCORDIN T E PLAT T14ERE-OF
j61
_T
AS RECORDED IN PLAT BOOK 7, PAGE 27, OF THE PUBLIC RECO U"P,0 , LLIER COUNTY,
FLORIDA. (Folio: 38840040001)
THE SOUTH 105 FEET OF THE SOUTH 180 FEET OF TRACT 66, GOLDEN G--. ESTATES,
UNIT NO. 50, ACCORDING TO THE PLAT THEREOF, AS RECODED IN', AT BOOK 5 AT
PAGE(S) 82 AND 83, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA.
(Folio: 39326920000)
T14E NORTH 75 FEET OF THE NORTH 150 FEET OF TRACT 3, GOLDEN GATE ESTATES, UNIT
NO. 51, ACCORDING TO THE PLAT THEREOF, AS RECODED IN PLAT BOOK 5 PAT PAGE (S)
84 AND 85, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA. (Folio: 39380200009)
* 1989 Amendment to Agreement recorded in Official Records Book 1456 at Page 592, in the Public
Records of Collier County, Florida 1990 Amendment to Agreement recorded in Official Records Book
1524 at Page 2119, in the Public Records of Collier County, Florida
0
FPacket Pg. 736
OR 6129 PG 3659
Page Two
ALL OF TRACT 158, GOLDEN GATE ESTATES, UNIT NO. 78, ACCORDING TO THE PLAT
THEREOF, AS RECORDED IN PLAT BOOK 5, AT PAGE 16, OF THE PUBLIC RECORDS OF
COLLIER COUNTY, FLORIDA. (Folio: 40752400002)
THE SOUTH 75,FE,VT_OF THE SOUTH 150 FEET OF TRACT 35, GOLDEN GATE ESTATES, UNIT
NO. 5 1, ACCO".114G, THE PLAT THEREOF, AS RECODED IN PLAT BOOK 5 AT PAGE(S) 84
�XO
AND 85, OF Tk".LIQ RECORDS OF COLLIER COUNTY, FLORIDA, (Folio: 39384040003)
THE WEST EAST',145 .-F; TPF THE WEST 180 FEET OF TRACT 52, GOLDEN GATE ESTATES,
UNIT NO.47, ACCZ V-md Itp THE PLAT THEREOF. AS RECORDED IN PLAT BOOK 7, AT
PAGE 32, OF THE PUBLI"15-&R.DS OF COLLIER CO-UNTY, FLORIDA, (Folio- 39145WO08)
THE WEST 75 FEET OF THE'l 180 FEET OF TRACT 48, GOLDEN GATE ESTATES, UNTIL
NO 93, ACCORDING TO *P-P T THEREOF, AS RECORDED IN PLAT BOOK 5. AT PAGE 32,
OF THE PUBLIC RECORDS OLLIER COUNTY, FLORIDA. (Folio: 41713880000)
ALL OF TRACT 127, GOLDEN AATEJ�STATES, UNIT NO. 14, ACCORDING TO THE PLAT
'�AOQ)��7,
THEREOF AS RECORDED IN PLA-r
AT PAGES 73 AND 74, OF THE PUBLIC RECORDS
OF COLL] ER COUNTY, FLORIDA. (Forip:' �-'09560004)
ALL OF TRACT 126, GOLDEN GATE71WAT
UNIT NO. 49, ACCORDING TO THE PLAT
THERE -OF, AS RECORDED IN PLAT BO 5;-AT PAGE(S) 80 AND 81, OF THE PUBLIC
RE -CORDS OF COLLIER COUNTY, FLORIO, .,,0` 1%39271840002)
THE EAST 75 FEET OF THE WEST 180 FEET On
6T 116, GOLDEN GATE ESTATES. UNIT
NO. 78, ACCORDING TO THE PLAT THEREOF, DED IN PLAT BOOK 5, AT PAGE 16,
OF THE PUBLIC RECORDS OF COLLIER COU Fib' (Folio, 40749320001)
ALL OF TRACT 2, GOLDEN GATE ESTATES, UNIToVa �-2q, ACCORDING TO, THE PLAT
-7
THEREOF, AS RECORDED IN PLAT BOOK 7 AT PA-9 (5 -9 AND 80, OF THE PUBLIC
RECORDS OF COLLIER COUNTY, FLORIDA, (Folio: 37590,0.860084
1 7
ALL OF TRACT 97, GOLDEN GATE ESTATES, UNIT NO. 24, ACCORDING TO THE PLAT
THEREOF, AS RECORDED IN PLAT BOOK 7 AT PAGE(S).,i'I 12, OF THE PUBLIC
)
RECORDS OF COLLIER COUNTY, FLORIDA. (Folio: 378078800(
fKG TO THE PLAT
ALL OF TRACT 121, GOLDEN GATE ESTATES, UNIT NO. 96, AC -FOR
THEREOF, AS RECORDED IN PLAT BOOK 7 AT PAGE(S) 9., U�Ijc RECORDS OF
COLLIER COUNTY, FLORIDA. (Folio: 41887560007)
ALL OF TRACT 85, GOLDEN' GATE ESTATES, UNIT NO. 195, ACCORDIN6,j`D-�,THE PLAT
THEREOF, AS RECORDED IN PLAT BOOK 7 AT PAGE(S) 102, OF THE PUB 616 RECORDS OF
COLLIER COUNT-Y. FLORIDA. (Folio: 45967400009)
ALL OF TRACT HO, GOLDEN GATE ESTATES, UNIT 67A , ACCORDING TO THE PLAT
THEREOF AS RECORDED IN PLAT BOOK 9, AT PAGE 47, OF THE PUBLIC RECORDS OF
COLLIER COUNTY, FLORIDA. (Folio: 40120440005)
* 1989 Amendment to Agreement recorded in Official Records Book 1456 at Page 592, in the Public
Records of Collier County, Florida. 1990 Amendment to Agreement recorded in Official Records Book
1524 at Page 2119, in the Public Records of Collier County, Florida
F Packet Pg. 737
OR 6129 PG 3660
Page Three
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 02Q rd day of
Ma.rc.la P A.D., 2022.
. Signed, sealed and delivered
rn
Witness ffigUa
)ure)
(print name)
STATE OF -51 Or'k 6 0,-
COUNTY OF gf:) r Ck jt2 9 e'
The foregoing instrument as acknow
notarization this ;!�? a "Ir day of _
Avatar Properties Inc., a Florida Profit Corporation
By:
10C � 0',r'-d'.qrW Mj
Print name and corporate title V'l
by means of E9 physical presence or El online
2022, by
as
, UP), on behalf of Avatar Properties Inc. Such
person(s);
Notary Public must check applicable box:
is / are personally known to me,
produced his her current drive��i
produced
as identification.
(Notary Seal)
o ary Pu
Pri ted N of Notary: ry-)
DEBRA LYNN CUN INGHAM Commission Number: AA --L
rld.
N r
Notary Public - Stat.1 of Florid
a My Commission Expire's,. r -4
'A Commission # HH 228400 7�
026
W*' my Comm. Exp:plres Feb 14, 2026
..I
P-L.ded throush National Notary ASSA.
Approved as to form and legality-
44 �- I" e;p-
Assistant County Attot;-C—y
�1)041A
1989 Amendment to Agreement recorded in OMcial Records Book 1456 at Page 592, in the Public
Records of Collier County, Florida. 1990 Amendment to Agreement recorded in Official Records Book
1524 at Page 2119, in the Public Records of Collier County, Florida
41�)
S
LU
0
IL
0
U
00
to
r-
I Packet Pg. 738
MINUTES
Golden Gate Estates Land Trust Committee
Tuesday, December 13, 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 Huffman
Member: Vacant
Countv Staff
Michael Dowling: Collier County Real Property Management
1. Call to order: Jeff called the meeting to order at 5:35 p.m.
2. Approval of current agenda: Jeff asked if there were any questions or revisions to the agenda, there were
none. Jeff asked for a motion to approve. Jessica made a motion to approve the Agenda as submitted,
Sarah seconded the motion, Jeff called for the vote, all were in favor.
Approval of Appraisal for PUED purchase -
Folio #38840040001, 7.38 acres, 58t" Ave NE, Appraised Value: $370,000:
Jeff asked if there were any questions before taking a vote. There was discussion that the appraised
value was low for the current market. Michael was asked how the Committee's recommendation to the
Board of County Commissioners would be presented. Michael said that the Executive Summary will
include the Committee's recommendation to either approve or reject the appraisal as submitted. The
Committee asked how the Executive Summary would be worded if there was a counteroffer from the
Committee. Michael said, unlike a previous appraisal where they Conunittee counter -offered with the
potential buyer, going forward, there will just be a vote to approve or reject the appraisal as presented.
Michael said that the Committee could make their recommendation to the Board to reduce or increase a
value, which has been done in the past. Jeff said he was ready to take a motion. Jessica made a motion to
deny the appraisal and recommend that the Board consider a sale price of $406,000. Jeff seconded the
motion, Jeff called for the vote and all were in favor. Jeff asked if the Committee could review the
Executive Summary before being presented to the Board and Michael said he would provide a copy to
the Committee.
4. Other Business: None
5. Public Comment: None
6. Next meeting — January— to be deten-nined
Meeting adjourned: 6:15 p.m.
February 21, 2023
e y hairman Packet Pg. 739
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
6077D Report Table of Contents
Carroll & Carroll
Table of Contents
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS ......................................................... 1
CERTIFICATION ..................................................................................................................................... 2
SCOPE OF WORK ................................................................................................................................... 4
ESTATE APPRAISED .............................................................................................................................. 5
DEFINITION OF MARKET VALUE ..................................................................................................... 6
ASSUMED EXPOSURE TIME ................................................................................................................ 6
AREA INFORMATION .......................................................................................................................... 7
MARKET AREA ..................................................................................................................................... 17
PROPERTY INFORMATION ............................................................................................................... 28
SITE DESCRIPTION .......................................................................................................................... 30
SUBJECT PHOTOGRAPHS .............................................................................................................. 31
ENVIRONMENTAL CONTAMINATION .................................................................................... 35
NATURAL RESOURCE CONCERNS ............................................................................................ 36
ZONING .............................................................................................................................................. 39
ASSESSMENT AND TAXES ............................................................................................................ 41
FLOOD ZONE DATA ....................................................................................................................... 42
TRANSACTIONAL HISTORY ........................................................................................................ 43
CURRENT STATUS ........................................................................................................................... 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
ESTIMATE OF VALUE ..................................................................................................................... 59
ADDENDA ............................................................................................................................................. 61
6077D Report Summary of Important Data & Conclusions
Carroll & Carroll 1
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS
This information is summarized only for convenience. The value given is the final, rounded
conclusion of the appraisal. To use this summary without first reading the appraisal report
could be misleading.
PROPERTY INFORMATION
Property Identification
7.38 acres located along 58th Avenue NE
Naples, FL 34120
Property Description
A 7.38-acre canal front parcel located along the south side
of 58th 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
GENERAL INFO
Appraiser
Timothy W. Sunyog, MAI
State-Certified General Appraiser RZ 3288
Scope of Work All applicable approaches to value were developed.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
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
6077D Report Certification
Carroll & Carroll 2
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.
6077D Report Certification
Carroll & Carroll 3
As of the date of this report, I have completed the requirements of the continuing
education program of the State of Florida, and for Designated Members of the
Appraisal Institute.
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
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SCOPE OF WORK
All applicable approaches to value were developed and the value conclusion reflects all
known information about the subject property, market conditions, and available data.
The scope of work was:
• Inspected 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
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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DEFINITION OF MARKET VALUE
In United States tax law, the definition of Fair Market Value is found in the United States
Supreme Court decision in the Cartwright case:
The fair market value is the price at which the property would change hands between a
willing buyer and a willing seller, neither being under any compulsion to buy or to sell
and both having reasonable knowledge of relevant facts.
United States v. Cartwright, 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S.
Tax Case. (CCH) ¶ 12,926 (1973) (quoting from U.S. Treasury regulations relating to Federal
estate taxes, at 26 C.F.R. sec. 20.2031-1(b)).
ASSUMED EXPOSURE TIME
The reasonable exposure time 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 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).
GEOGRAPHY
Collier County is the most southerly county on Florida's west coast offering mainland
coastal development. Collier County is west of Ft. Lauderdale and south of Tampa. With
2,025 square miles of land area, it is the largest county in Florida. 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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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 14th Edition)
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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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.
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.
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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.
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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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.
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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.
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
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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.
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MARKET AREA
Market Area is defined as:
“The geographic region from which a majority of demand comes and in which the
majority of competition is located.” (The Dictionary of Real Estate Appraisal 7th 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 15th Edition)
A market area includes those surrounding land uses which impact the value of a property
and it can encompass one or more neighborhoods or districts. An appraiser focuses on the
market area in analyzing subject property value influences.
BOUNDARIES
The subject property is located within the Golden Gate area of Collier County. For
appraisal purposes, the Golden Gate or market area boundaries are shown below:
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Introduction
The portion of Golden Gate within this market area is approximately 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.
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County government has zoning, and comprehensive plan ordinances designed to protect
the character and values of property; to protect and enhance economic development; and to
maintain and enhance the attractive nature of the area.
Public services include fire protection, solid waste disposal, potable water, sanitary sewer
service and storm water drainage. In some areas of Golden Gate Estates where sanitary
sewer is not available, septic systems are permitted. Public/private companies proved
adequate services for electricity, cable, and internet. Community support facilities such as
schools, parks, churches, shopping, and places of employment are all located within this
market area.
Collier County Sheriff Department provides full range of services for Collier County.
According to the statistics listed by Florida Department of Law Enforcement, Collier
County crime index falls in the lowest 16% of all counties in Florida and crime rate has
decreased nine out of the past ten years. About 78% of all crime is either burglary or
larceny. The county averages are representative of conditions in the Golden Gate area.
This market area is served by several arterial roadways. All are six-lane divided highways
with beautifully landscaped medians. Improvements include street lighting and concrete
curb and gutter. North-south arterial roadways include Santa Barbara Boulevard which
connects Rattlesnake Hammock Road to Immokalee Road and Collier Boulevard (SR-951)
which is a major arterial linking Marco Island in south Collier County with Immokalee
Road near the north county line. Development along Collier Boulevard is a mixture of
single/multi-family residential, office, light industrial, institutional, and retail.
The Collier Boulevard thoroughfare anchors a grid of arterial roads spaced about 2 miles
apart, that serve the greater Naples coastal community which lies to the west and has direct
access to I-75.
East-west arterials include Golden Gate Parkway, Pine Ridge Road, and Immokalee Road.
Each one provides direct access to Interstate I-75. Development along Pine Ridge Road is
mainly developed with single family homes and institutional uses. Golden Gate Parkway
and Immokalee Roads have a mixture of single/multi-family residential, office, industrial,
institutional, and retail uses. Another east-west arterial is Vanderbilt Beach Road which is a
direct connection between the Golden Gate area and the Naples beaches 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
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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
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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.
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Commercial
Commercial development can be categorized in four different groups. Primary commercial
is in Golden Gate City. Second group is newer construction at the arterial road
intersections. Third is neighborhood commercial within the rural estates. Fourth is the
industrial commerce park near Collier Boulevard and the I-75 interchange.
Golden Gate City is the commercial center serving this market area. Santa Barbara
Boulevard, north of Golden Gate Parkway, has a mixture of multi-family residential and
commercial along the east side of the road. Commercial consists of older single story, single
user buildings and 4 to 8 unit strip centers. Businesses include daycare/ preschools,
neighborhood food mart and gas stations, construction company offices, barber shops and
beauty salons and small restaurants. Golden Gate Parkway has a mixture of multi-family
and commercial development along both sides of the roadway. Newer commercial consists
of CVS and Walgreens Pharmacies, bank branches and national fast food restaurants. There
are three older shopping centers, anchored by Winn Dixie 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.
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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
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facility at the southeast corner to serve all the new residential development along
Immokalee Road and the Golden Gates Estates community.
Health care, construction, education, retail, and management positions dominate the market
area business sector.
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 for 2020 and 2025
6077D Report Market Area
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MARKET AREA LIFE CYCLE
Market areas often pass through a four-stage life cycle of growth, stability, decline, and
revitalization.
• Growth – A period during which the market area gains public favor and acceptance.
• Stability – A period of equilibrium without marked gains or losses
• Decline – A period of diminishing demand
• Revitalization – A period of renewal, redevelopment, modernization and increasing
demand.
Most the real estate activity in Golden Gate reflects the growth cycle. The residential and
commercial markets continue to be strong. The growth cycle is expected to continue into the
near future. Because of the age of the structures, the western portion and the city center are
just beginning to experience some revitalization.
CONCLUSION
This continues to be one of the most affordable market areas in Collier County. The houses
within the city center provide entry level housing and the rural area satisfies the desire for
larger lot sizes and rural lifestyle. A well-designed road network provides easy access to
jobs serving the coastal community; coastal beaches and water activities; entertainment
endeavors; and commercial and medical services. This area appeals to a cross section of the
population but primarily to working class families. Development continues to push north
and east where vacant lots still exist. Golden Gate will likely continue to enjoy a healthy
growth while maintaining its affordability.
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PROPERTY INFORMATION
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SITE DESCRIPTION
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
58th 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
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SUBJECT PHOTOGRAPHS
View to east along 58th Avenue NE.
(Photo Taken July 23, 2022)
View to the west along 58th Avenue NE.
(Photo Taken July 23, 2022)
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View to the southwest from 58th Avenue NE.
(Photo Taken July 23, 2022)
View to the south from 58th Avenue NE.
(Photo Taken July 23, 2022)
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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)
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View to the north along the drainage canal.
(Photo Taken July 23, 2022)
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ENVIRONMENTAL CONTAMINATION
Observed Contamination None
Noted Concerns None
Environmental Assessment
Available
No
Impact on Value None
Disclaimer Unless otherwise stated in this report, the existence
of hazardous substances or environmental
conditions including but not limited to asbestos,
polychlorinated biphenyls, petroleum leakage,
agricultural chemicals, urea formaldehyde
insulation, lead paint, toxic mold, et cetera, which
might or might not be present in or on the property
were not called to the attention of the appraiser.
Such tests were not in the appraiser's required
scope of work, the appraiser is not qualified to test
for such substances and conditions and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any such conditions that might exist,
or for the knowledge and expertise required to
discover them.
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NATURAL RESOURCE CONCERNS
Condition of Subject 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
required to discover them.
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FUTURE LAND USE
Ordinance or Plan Collier County Growth Management Plan (GMP)
Golden Gate Area Master Plan (GGAMP)
Future Land Use Designation Residential Estates Subdistrict
Purpose of Designation The property has a future land use designation of
Estates. The Estates designation is characterized by
low density semi-rural residential lots with limited
opportunities for other land uses. Residential
density is limited to a maximum density of one unit
per 2.25 gross acres.
Under the Estates future land use designation there
is no provision for a conditional use and therefore a
conditional use approval requires an amendment to
the GGAMP.
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6077D Report Property Information
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ZONING
Ordinance or Land Development
Code
Collier County
Zoning E – Estates
Purpose or Intent of Zoning The subject is zoned “E” – Estates District. The
purpose and intent of the Estates district is to
provide lands for low density residential
development in a semi-rural to rural environment.
In addition, several conditional uses including
churches, social and fraternal organizations, child
care centers, private schools, and group care
facilities are available under conditional use
provisions. Permitted uses include single-family
dwellings and Family Care Facilities, and public
schools. Conditional uses permissible in the Estates
district include churches and other places of
worship, social and fraternal organizations, child
and adult care centers, schools and group care
facilities. These conditional uses are strictly
regulated.
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.
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ASSESSMENT AND TAXES
By statute, real estate in Florida is assessed at 100% of fair market value as of January 1st
of the tax year. Since annual tax assessments are based on sales from previous years,
depending upon market trends, assessed values can fall on either side of the current
market value estimate. The tax assessment is usually not a reliable indicator of market
value.
Parcel Tax ID 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 Collier County
The total assessment is $12,726 per gross acre. The land assessment is consistent with
other similar parcels along 58th Avenue 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.
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FLOOD ZONE 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 12021C0235H
Revised May 16, 2012
Source National Flood Insurance Program
Flood Insurance Rate Maps
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TRANSACTIONAL HISTORY
Sales History There have been no transactions 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.
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HIGHEST AND BEST USE
DEFINITION
The Dictionary of Real Estate Appraisal, 7th 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.
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SALES COMPARISON APPROACH
INTRODUCTION
In the sales comparison approach, the subject property is compared with similar properties
that have sold recently or for which listing prices or offering prices are known. Data from
generally similar properties is used, and comparisons are made to demonstrate a probable
price at which the subject property would sell if offered on the market. This approach is
particularly strong when comparable sales data is plentiful and there is good conformity
among properties in the neighborhood.
Following is the procedure to be followed in developing this approach:
1. Research the market to gather information on sales, listings, and offers to purchase
properties similar to the subject.
2. Verify the information as to factual accuracy and arm's-length market considerations.
3. Identify relevant units of comparison and develop a comparative analysis for each
unit.
4. Compare the subject with comparable sale properties using elements of comparison
and adjust the sale price of each comparable appropriately.
5. Reconcile the various value indicators produced from the analysis of comparables into
a single value indication or a range of values.
The outline above is developed in detail on the following pages.
SALES DATA
A search was made for sales 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.
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LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES
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VACANT LAND COMPARABLE 1
ADDRESS 22nd Street SE, Naples, FL 34117
PROPERTY ID NO. 3939240004
SALE PRICE $275,000
UNIT AREA 6.07 acres
UNIT PRICE $45,305 per acre
DATE OF RECORDING March 04, 2022
O.R. BOOK-PAGE 6100/1864
CONTRACT DATE March 1, 2022
GRANTOR Anthony I. Lainhart
GRANTEE Lisa B Homes, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
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.
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VACANT LAND COMPARABLE 2
ADDRESS 16th Avenue NE, Naples, FL 34120
PROPERTY ID NO. 40470320008
SALE PRICE $227,900
UNIT AREA 5.68 acres
UNIT PRICE $40,123 per acre
DATE OF RECORDING September 20, 2021
O.R. BOOK-PAGE 6036/2039
CONTRACT DATE Unknown
GRANTOR Maria Torres
GRANTEE BFH Property Holdings, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
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.
6077D Report Sales Comparison Approach
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VACANT LAND COMPARABLE 3
ADDRESS 14th Avenue NE, Naples, FL 34120
PROPERTY ID NO. 40570280006 & 40570240004
SALE PRICE $220,000
UNIT AREA 5.83 acres
UNIT PRICE $37,736 per acre
DATE OF RECORDING November 24, 2021
O.R. BOOK-PAGE 6053/3840
CONTRACT DATE November 4, 2021
GRANTOR Anthony and Nicholas Ballas
GRANTEE The Rzewnicki Land Company
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
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.
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VACANT LAND COMPARABLE 4
ADDRESS 39th Avenue NE, Naples, FL 34120
PROPERTY ID NO. 39890480005
SALE PRICE $255,000
UNIT AREA 5.83 acres
UNIT PRICE $43,739 per acre
DATE OF RECORDING July 20, 2021
O.R. BOOK-PAGE 5986/3407
CONTRACT DATE May 12, 2021
GRANTOR Ruperty T. Preddie
GRANTEE Betzabe Hussmann and Stefanie Andre
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Cleared
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
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.
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VACANT LAND COMPARABLE 5
ADDRESS 68th Avenue NE, Naples, FL 34120
PROPERTY ID NO. 38912120008 & 38912120105
SALE PRICE $220,000
UNIT AREA 5.60 acres
UNIT PRICE $39,286 per acre
DATE OF RECORDING March 21, 2022
O.R. BOOK-PAGE 6104/2960
CONTRACT DATE February 21, 2022
GRANTOR Dorinda Peloquin
GRANTEE Naples Funding, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Cleared
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
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.
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VACANT LAND COMPARABLE 6 (PENDING)
ADDRESS 2320 50th Avenue NE, Naples, FL 34120
PROPERTY ID NO. 38960040004
SALE PRICE $350,000
UNIT AREA 6.48 acres
UNIT PRICE $54,012 per acre
DATE OF RECORDING N/A
O.R. BOOK-PAGE N/A
CONTRACT DATE June 1, 2022
GRANTOR Miguel Garcia
GRANTEE N/A
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Cleared
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
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.
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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.
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LAND SALES ADJUSTMENT GRID
ITEM SUBJECT COMP #1 COMP #2 COMP #3 COMP #4 COMP #5 COMP #6
PENDING
PROPERTY IDENTIFICATION 58th Avenue NE 22nd Street SE 16th Avenue NE 14th Avenue NE 39th Avenue NE 68th Avenue NE 2320 50th
Avenue NE
SALE PRICE N/A $275,000 $227,900 $220,000 $255,000 $220,000 $350,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0 0
CONDITIONS OF SALE Market Market Market Market Market Market Listing
0 0 0 0 0 (40,000)
BUILDING IMPROVEMENTS None None None None None None None
0 0 0 0 0 0
FINANCING Cash or Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller
Equivalent 0 0 0 0 0 0
ADJUSTED SALE PRICE N/A $275,000 $227,900 $220,000 $255,000 $220,000 $310,000
Recording Date N/A 03/04/22 09/20/21 11/24/21 07/20/21 03/21/22 07/23/22
Months Prior To Effective Date 07/23/22 4.64 10.06 7.92 12.10 4.08 0.00
MARKET CHANGE ADJUSTMENT N/A 11.6%25.1%19.8%30.2%10.2%0.0%
ADJUSTED SALE PRICE N/A $306,866 $285,212 $263,573 $332,120 $242,419 $310,000
Parcel Area in Gross Acres 7.38 6.07 5.68 5.83 5.83 5.60 6.48
PRICE PER ACRE ?$50,555 $50,213 $45,210 $56,967 $43,289 $47,840
LOCATION
ADDRESS 58th Ave. NE 22nd St. SE 16th Ave. NE 14th Ave. NE 39th Ave. NE 68th Ave. NE 50th Ave. NE
CORNER LOT No No No No No No No
PAVED ROAD Yes Yes Yes Yes Yes Yes Yes
CANAL FRONTAGE Yes No Yes Yes Yes Yes Yes
OVERALL LOCATION Average Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
UTILITIES Well & Septic Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
COMP. PLAN Estates Estates Estates Estates Estates Estates Estates
ZONING E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates
0%0%0%0%0%0%
SIZE IN ACRES 7.38 6.07 5.68 5.83 5.83 5.60 6.48
SHAPE/CONFIGURATION Rectangular Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
PHYSICAL CHARACTERISTICS Native Veg.Similar Similar Similar Similar Similar Inferior
WETLANDS %0%0%0%0%0%0%0%
0%0%0%0%0%10%
GROSS ADJUSTMENT N/A 0%0%0%0%0%10%
INDICATION OF UNIT VALUE ?$50,555 $50,213 $45,210 $56,967 $43,289 $52,623
6077D Report Sales Comparison Approach
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DISCUSSION OF ADJUSTMENTS
Usually, comparable sale properties are not exactly like the subject property. If a typical
buyer would perceive the difference to be significant, then adjustment(s) must be made to
the comparable sales so that in the end each offers a realistic indication of value for the
subject. Adjusting comparable sales is a two-step process.
First, adjustments are made so that all of the comparable sales meet the standard of a
“market” transaction as outlined in the definition of market value. Customarily, the first
group of adjustments is made before the comparables are reduced to a common unit of
comparison. Included at this stage are adjustments to bring historic sales current to the
appraisal effective date.
The second group of adjustments is made after an appropriate unit of comparison is chosen.
These adjustments account for physical differences like location, physical characteristics and
size. Sometimes adjustment is required for differences in the permitted land use (zoning) or
in the availability of public service (infrastructure). When the adjustment process is
complete, the unit value indications are reconciled and converted into an estimate of value
for the subject.
REAL PROPERTY RIGHTS CONVEYED
This adjustment category is intended to account for the interest, benefits, and rights
inherent in the ownership of real estate. This category reflects the impact on value caused
by the fee simple versus the leased fee interest or the contract rent as opposed to market
rent.
• None of the comparable sales required adjustment in this category.
CONDITIONS OF SALE
This adjustment category is intended to account for a variety of factors that might affect
the purchase price.
• 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 IMPROVEMENTS
This category of adjustment is intended to account for the positive or negative contribution
to value of building improvements included with the sale of the land. Buildings that made
a positive contribution to the sale price require a negative adjustment. Buildings that were
demolished and removed require a positive adjustment to account for demolition costs
which are treated as part of the purchase price.
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• None 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.
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.
Address Parcel ID#Prior Sale Recent Sale Months Prior Sale Price Recent Sale Price Appreciation Monthly Change
2740 Desoto Blvd S 41446480007 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%
411 24th Ave NE 37745280006 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 41171480000 04/06/20 01/07/21 9.07 $45,000 $56,000 24.44%2.69%
AVG 4.34%
MEDIAN 3.33%
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Carroll & Carroll 57
LOCATION/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.
COMPREHENSIVE PLAN/LAND USE
This category of adjustment accounts for differences in the potential land uses
(Comprehensive Plan) or in the specific uses (Zoning) to which a property could be
developed. Differences in value between the subject property and comparable sales might
exist because their highest and best uses are different as a result of government regulation
through zoning and land use controls.
• None of the comparable sales required adjustment in this category.
SIZE/SHAPE
This category of adjustment addresses the effect on the marketability of a given property,
because its physical size/shape might limit the physical utility, or because the size and
term of the financial investment required of an investor/speculator is such that the unit
price is reduced.
• None of the comparable sales required adjustment in this category.
PHYSICAL CHARACTERISTICS
This category of adjustment reflects the physical aspects of a property that impact its use
for development. Physical characteristics included land elevation, soil conditions,
drainage characteristics, threatened or endangered plant and animal species on the
property and the extent and density of covering vegetation.
• 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
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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.
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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.
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CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
6077D Report Addenda
Carroll & Carroll
ADDENDA
(In Order of Appearance)
Page Topic Count Page(s) Page(s)
Assumptions and Limiting Conditions............................................................................ 2
Qualifications of Appraiser................................................................................................. 2
6077D Report Addenda
Carroll & Carroll
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.
HYPOTHETICAL CONDITIONS
None
GENERAL ASSUMPTIONS AND LIMITING CONDITIONS
1. No responsibility is assumed for the legal description or for matters including legal or title
considerations. Title to the property is assumed to be good and marketable.
2. The property is appraised free and clear of liens and encumbrances.
3. Responsible ownership and competent property management are assumed.
4. The information furnished by others is assumed to be true, correct and reliable. A
reasonable effort was made to verify such information, but the appraiser bears no
responsibility for its accuracy.
5. All engineering is assumed to be correct. The plot plans and illustrative material is
included only to assist the reader in visualizing the property.
6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or
structures that render it more or less valuable. No responsibility is assumed for such
conditions or for arranging for engineering studies that might be required to discover
them.
6077D Report Addenda
Carroll & Carroll
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
"vested" under, all applicable zoning, use regulations and restrictions.
9. It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any local, state, or national government or
private entity or organization have been, or can be, obtained or renewed for any use on
which the value estimate is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries or
property lines of the property described, and that there is no encroachment or trespass.
11. It is assumed that the subject site and improvements are not contaminated by any
hazardous material or toxic substance. During the property inspection we were sensitive
to obvious signs of contamination and we reported anything unusual. However, we are
not qualified to render professional opinions regarding the existence or the nature of
hazardous materials in or on the subject property. If a definitive opinion is desired, then
the client is urged to retain an expert in the field.
12. The distribution of the total value in this report, between land and improvements, applies
only under the stated program of utilization. The separate allocations for land and
buildings must not be used in conjunction with any other appraisal and are invalid if so
used.
13. Possession of this report, or a copy thereof, does not carry with it the right of publication.
14. Unless previous arrangements were made, the appraisers, by reason of this appraisal, are
not required to give further consultation, testimony, or to be in attendance in court.
6077D Report Addenda
Carroll & Carroll
6077D Report Addenda
Carroll & Carroll