Agenda 07/25/2023 Item #16A 7 (Agreement for purchase between Silvia M. Arias under the Conservation Collier Land Acquisition Program16.A.7
07/25/2023
EXECUTIVE SUMMARY
Recommendation to approve an Agreement for the Purchase of two (2) parcels totaling 6.95 acres from
Silvia M. Arias, under the Conservation Collier Land Acquisition Program, at a cost not to exceed $118,600.
OBJECTIVE: To purchase two (2) parcels totaling 6.95 acres from Silvia M. Arias, ("Seller") near the
Conservation Collier Dr. Robert H. Gore III Preserve.
CONSIDERATIONS: On January 25, 2022, Agenda Item #11A, the Board of County Commissioners (Board)
approved a Conservation Collier Land Acquisition Advisory Committee (CCLAAC) recommended Cycle 10
Active Acquisition List (AAL), with changes, and directed staff to actively pursue the acquisition of the properties
under the Conservation Collier Program.
The Silvia M. Arias properties consist of two (2) parcels within Golden Gate Estates, Unit 91A, and the Dr. Robert
H. Gore III Preserve multi -parcel project area located off Desoto Blvd. Parcel 41560040006 is located
approximately 150 feet East of Tract 121 and approximately 648 feet south of 40r' Ave SE. It is vacant, unimproved
land and contains 3.16 acres (137,650 square feet). The site is fully wooded and 100% forested/shrub wetlands. The
property contains 80% hydric slough and depressional soils with 20% being non-hydric soils.
Both Parcels front 42nd Avenue SE. Parcel 41560080008 is located approximately 180 feet west of Tract 121 and
approximately 648 feet south of 40t' Ave SE. It is vacant, unimproved land and contains 3.79 acres (165,092
square feet). The site is fully wooded and 100% forested/shrub wetlands. The property contains 100% hydric
slough and depressional soils with the majority being hydric slough.
The appraisals, dated August 2022, were provided by an independent, state -certified, general real estate appraisal
firm that Staff contracted with to appraise these parcels. The cost to obtain the appraisals was $3,900.
The Seller accepted the offer before the Board adopted the revised Conservation Collier Purchasing Policy,
Resolution No. 2023-10, which allows the offer amount to be determined by staff but shall not be more than the
appraised value. Staff renegotiated the purchase price of $116,100 for the two parcels (Parcel 41560040006 for
$56,700 and Parcel 41560080008 for $59,400) which is 90% of each appraised value.
On July 14, 2023, the CCLAAC voted unanimously to recommend approval of the purchase agreement.
Pursuant to Ordinance 2007-65, Section 13(8), a Project Design Report for the property is provided herewith.
FISCAL IMPACT: The total cost of the acquisitions will not exceed $118,600 ($116,100 for the two parcels, and
approximately $2,500 for closing fees, title commitments, title policies, and recording of respective documents).
The funds will be withdrawn from the Conservation Collier Trust Fund (1061). As of July 25, 2023, property costs
for Conservation Collier properties, including this property and those under contract, total $113,593,402. Estimated
costs of maintenance in perpetuity for this and all Cycle 10 A -list properties have been considered by the CCLAAC
and have been incorporated into the Conservation Collier Long Term Financial Management Plan to ensure
management of all Conservation Collier Preserves in perpetuity. The initial costs of maintenance and signage have
been provided in the Project Design Report (PDR) attached. The maintenance cost for the first five (5) years (initial
maintenance costs) is $13,733. After the initial restoration, the average annual maintenance costs will be
approximately $1,388.
GROWTH MANAGEMENT IMPACT: Fee simple acquisition of conservation lands is consistent with, and
supports, Policy 1.3.1(e) in the Conservation and Coastal Management Element of the Collier County Growth
Management Plan.
LEGAL CONSIDERATIONS: This item is approved as to form and legality and requires a majority vote for
approval. - RTT
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16.A.7
07/25/2023
RECOMMENDATION:
1) Approve the attached Agreement and accept the Warranty Deeds, upon approval by the
County Attorney's Office;
2) Authorize the Chairman to execute the Agreement and all County Attorney Office -approved
documents related to this transaction;
3) Authorize the County Manager or designee to prepare related vouchers and Warrants for
payment; and
4) Direct the County Manager or designee to proceed with the acquisition, to follow all
appropriate closing procedures, to record the deed and all necessary documents to
obtain clear title, and take all reasonable steps necessary to ensure performance under the
Agreement.
Prepared by: Vivian Rodriguez, Property Acquisition Specialist, Real Property Management
ATTACHMENT(S)
1. Agreement (PDF)
2. [Linked] Appraisal - 3.16 acres - Folio 41560040006 (PDF)
3. [Linked] Appraisal - 3.79 acres - Folio 41560080008 (PDF)
4. Project Design Report (PDF)
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16.A.7
07/25/2023
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.A.7
Doc ID: 25924
Item Summary: Recommendation to approve an Agreement for the Purchase of two (2) parcels totaling 6.95 acres
from Silvia M. Arias, under the Conservation Collier Land Acquisition Program, at a cost not to exceed $118,600.
Meeting Date: 07/25/2023
Prepared by:
Title: — Facilities Management
Name: Vivian Rodriguez
06/21/2023 11:40 AM
Submitted by:
Title: — Facilities Management
Name: John McCormick
06/21/2023 11:40 AM
Approved By:
Review:
Public Services Department Melissa Hennig Additional Reviewer
Facilities Management John McCormick Director - Facilities
Growth Management Community Development Department Jaime Cook
Facilities Management Jennifer Belpedio Manager - Real Property
Development Review Summer BrownAraque Additional Reviewer
County Attorney's Office Ronald Tomasko Level 2 Attorney of Record Review
Growth Management Community Development Department James C French
Office of Management and Budget
Office of Management and Budget
County Attorney's Office
County Manager's Office
Board of County Commissioners
Debra Windsor Level 3 OMB Gatekeeper Review
Laura Zautcke Additional Reviewer
Jeffrey A. Klatzkow Level 3 County Attorney's Office Review
Ed Finn Level 4 County Manager Review
Geoffrey Willig Meeting Pending
Completed 06/21/2023 12:25 PM
Completed 06/21/2023 1:43 PM
Additional Reviewer Completed
06/27/2023 9:57 AM
Completed 06/27/2023 3:38 PM
Completed 06/27/2023 7:17 PM
Completed 06/30/2023 1:22 PM
Additional Reviewer Completed
07/13/2023 3:18 PM
Completed 07/13/2023 3:45 PM
Completed 07/14/2023 12:55 PM
Completed 07/14/2023 2:08 PM
Completed 07/17/2023 9:03 AM
07/25/2023 9:00 AM
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16.A.7.a
CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER: 41560040006 & 41560080008
AGREEMENT FOR SALE AND PURCHASE
THIS AGREEMENT is made and entered into by and between SILVIA M. ARIAS, an
unmarried widow, whose address is 10850 SW 301h Place, Davie, FL 33328,
(hereinafter referred to as "Seller"), and COLLIER COUNTY, a political subdivision of
the State of Florida, its successors and assigns, whose address is 3335 Tamiami Trail
East, Suite 102, Naples, FL 34112, (hereinafter referred to as "Purchaser").
WITNESSETH
WHEREAS, Seller is the owner of that certain parcel of real property (hereinafter
referred to as "Property"), located in Collier County, State of Florida, and being more
particularly described in Exhibit "A," attached hereto and made a part hereof by
reference.
WHEREAS, Purchaser is desirous of purchasing the Property, subject to the conditions
and other agreements hereinafter set forth, and Seller is agreeable to such sale and to
such conditions and agreements.
NOW, THEREFORE, and for and in consideration of the premises and the respective
undertakings of the parties hereinafter set forth and the sum of Ten Dollars ($10.00), the
receipt and sufficiency of which is hereby acknowledged, it is agreed as follows:
AGREEMENT
1.01 In consideration of the purchase price and upon the terms and conditions 0
hereinafter set forth, Seiler shall sell to Purchaser and Purchaser shall purchase
from Seller the Property, described in Exhibit "A".
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II. PAYMENT OF PURCHASE PRICE _
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2.01 The purchase price (the "Purchase Price") for the Property shall be ONE
HUNDRED SIXTEEN THOUSAND ONE HUNDRED and 001100 DOLLARS a
($116,100.00), (U.S. Currency) payable at time of closing.
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III. CLOSING
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3.01 The Closing (THE "CLOSING DATE," "DATE OF CLOSING," OR a
"CLOSING") of the transaction shall be held on or before one hundred and eighty
(180) days following execution of this Agreement by the Purchaser. The Closing
shall be held at the Collier County Attorney's Office, Administration Building, 3299
Tamiami Trail East, Naples, Florida. The procedure to be followed by the parties in
connection with the Closing shall be as follows:
3.011 Seller shall convey a marketable title free of any liens, encumbrances,
exceptions, or qualifications. Marketable title shall be determined according to
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CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER: 41560040006 & 41560080008
16.A.7.a
applicable title standards adopted by the Florida Bar and in accordance with
law. At the Closing, the Seller shall cause to be delivered to the Purchaser
the items specified herein and the following documents and instruments duly
executed and acknowledged, in recordable form:
3.0111 Warranty Deed in favor of Purchaser conveying title to the
Property, free and clear of all liens and encumbrances other than:
(a) The lien for current taxes and assessments.
(b) Such other easements, restrictions, or conditions of record.
3.0112 Combined Purchaser -Seller closing statement.
3.0113 A "Gap," Tax Proration, Owner's and Non -Foreign Affidavit," as
required by Section 1445 of the Internal Revenue Code and as required
by the title insurance underwriter in order to insure the "gap" and issue
the policy contemplated by the title insurance commitment.
3.0114 A W-9 Form, "Request for Taxpayer Identification and
Certification" as required by the Internal Revenue Service,
3.012 At the Closing, the Purchaser, or its assignee, shall cause to be delivered to
the Seller the following:
3.0121 A negotiable instrument (County Warrant) in an amount equal to
the Purchase Price. No funds shall be disbursed to Seller until the Title
Company verifies that the state of the title to the Property has not
changed adversely since the date of the last endorsement to the
commitment, referenced in Section 4.011 thereto, and the Title Company
is irrevocably committed to pay the Purchase Price to Seller and to issue
the Owner's title policy to Purchaser in accordance with the commitment
immediately after the recording of the deed.
3.0122 Funds payable to the Seller representing the cash payment due
at Closing in accordance with Article III hereof, shall be subject to
adjustment for prorations as hereinafter set forth.
3.02 Each party shall be responsible for payment of its own attorney's fees. Seller,
at its sole cost and expense, shall pay at Closing all documentary stamp taxes due
relating to the recording of the Warranty Deed, in accordance with Chapter 201.01,
Florida Statutes, and the cost of recording any instruments necessary to clear
Seller's title to the Property. The cost of the Owner's Form B Title Policy, issued
pursuant to the Commitment provided for in Section 4.011 below, shall be paid by
Purchaser. The cost of the title commitment shall also be paid by Purchaser.
3.03 Purchaser shall pay for the cost of recording the Warranty Deed. Real
Property taxes shall be prorated based on the current year's tax with due
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16.A.7.a
CONSERVATION COLLIER
TAX IDENTIFICATION NLIMBER: 41560040006 & 41560080008
allowance made for maximum allowable discount, homestead and any other
applicable exemptions and paid by Seller. If Closing occurs at a date which the
current year's millage is not fixed, taxes will be prorated based upon such prior
year's millage.
IV. REQUIREMENTS AND CONDITIONS
4.01 Upon execution of this Agreement by both parties or at such other time as
specified within this Article, Purchaser and/or Seller, as the case may be, shall
perform the following within the times stated, which shall be conditions precedent
to the Closing;
4,011 Within fifteen (15) days after the date hereof, Purchaser shall obtain as
evidence of title an ALTA Commitment for an Owner's Title Insurance Policy
(ALTA Form B-1970) covering the Property, together with hard copies of all
exceptions shown thereon. Purchaser shall have thirty (30) days, following
receipt of the title insurance commitment, to notify Seller in writing of any
objection to title other than liens evidencing monetary obligations, if any,
which obligations shall be paid at closing. If the title commitment contains
exceptions that make the title unmarketable, Purchaser shall deliver to the
Seller written notice of its intention to waive the applicable contingencies or to
terminate this Agreement.
4.012 If Purchaser shall fail to advise the Seller in writing of any such
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objections in Seller's title in the manner herein required by this Agreement, the
title shall be deemed acceptable. Upon notification of Purchaser's objection to
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title, Seller shall have thirty (30) days to remedy any defects in order to convey
good and marketable title at Seller's expense, except for liens or monetary
obligations which will be satisfied at Closing. Seller, at its sole expense, shall
use its best efforts to make such title good and marketable. In the event Seller
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is unable to cure said objections within said time period, Purchaser, by
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providing written notice to Seller within seven (7) days after expiration of said
thirty (30) day period, may accept title as it then is, waiving any objection; or
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Purchaser may terminate the Agreement. A failure by Purchaser to give such
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written notice of termination within the time period provided herein shall be
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deemed an election by Purchaser to accept the exceptions to title as shown in
the title commitment.
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4.013 Seller agrees to furnish any existing surveys of the Property in Seller's
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possession to Purchaser within 10 (ten) days of the effective date of this
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Agreement. Purchaser shall have the option, at its own expense, to obtain a
current survey of the Property prepared by a surveyor licensed by the State of
Florida. No adjustments to the Purchase Price shall be made based upon any
change to the total acreage referenced in Exhibit "A," unless the difference in
acreage revealed by survey exceeds 5% of the overall acreage. If the survey
provided by Seller or obtained by Purchaser, as certified by a registered
Florida surveyor, shows: (a) an encroachment onto the property; or (b) that an
improvement located on the Property projects onto lands of others, or (c) lack
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CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER: 41560040006 & 41560080008
16.A.7.a
of legal access to a public roadway, the Purchaser shall notify the Seller in
writing of such encroachment, projection, or lack of legal access, and Seller
shall have the option of curing said encroachment or projection, or obtaining
legal access to the Property from a public roadway, within sixty (60) days of
receipt of said written notice from Purchaser. Purchaser shall have ninety (90)
days from the effective date of this Agreement to notify Seller of any such
objections. Should Seller elect not to or be unable to remove the
encroachment, projection, or provide legal access to the property within said
sixty (60) day period, Purchaser, by providing written notice to Seller within
seven (7) days after expiration of said sixty (60) day period, may accept the
Property as it then is, waiving any objection to the encroachment, or projection,
or lack of legal access, or Purchaser may terminate the Agreement. A failure
by Purchaser to give such written notice of termination within the time period
provided herein shall be deemed an election by Purchaser to accept the
Property with the encroachment, or projection, or lack of legal access.
V. INSPECTION PERIOD
5.01 Purchaser shall have one hundred and twenty (120) days from the date of this
Agreement, ("Inspection Period"), to determine through appropriate investigation
that:
1. Soil tests and engineering studies indicate that the Property can be developed
without any abnormal demucking, soil stabilization or foundations.
2. There are no abnormal drainage or environmental requirements to the
development of the Property.
3. The Property is in compliance with all applicable State and Federal
environmental laws and the Property is free from any pollution or
contamination.
4. The Property can be utilized for its intended use and purpose in the
Conservation Collier program.
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5.02 If Purchaser is not satisfied, for any reason whatsoever, with the results of E
any investigation, Purchaser shall deliver to Seller prior to the expiration of the L
Inspection Period, written notice of its intention to waive the applicable a
contingencies or to terminate this Agreement. If Purchaser fails to notify the Seller
in writing of its specific objections as provided herein within the Inspection Period, E
it shall be deemed that the Purchaser is satisfied with the results of its
investigations and the contingencies of this Article V shall be deemed waived. In
the event Purchaser elects to terminate this Agreement because of the right of Q
inspection, Purchaser shall deliver to Seller copies of all engineering reports and
environmental and soil testing results commissioned by Purchaser with respect to
the Property.
5.03 Purchaser and its agents, employees and servants shall, at their own risk and
expense, have the right to go upon the Property for the purpose of surveying and
conducting site analyses, soil borings and all other necessary investigation.
Purchaser shall, in performing such tests, use due care. Seller shall be notified by
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16.A.7.a
CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER; 41560040006 & 41560080008
Purchaser no less than twenty-four (24) hours prior to said inspection of the
Property.
VI. INSPECTION
6.01 Seller acknowledges that the Purchaser, or its authorized agents, shall have
the right to inspect the Property at any time prior to the Closing.
VII. POSSESSION
7.01 Purchaser shall be entitled to full possession of the Property at Closing.
VIII. PRORATIONS
8.01 Ad valorem taxes next due and payable, after closing on the Property, shall
be prorated at Closing based upon the gross amount of the current year's taxes,
and shall be paid by Seller.
IX, TERMINATION AND REMEDIES
9.01 If Seller shall have failed to perform any of the covenants and/or agreements
contained herein which are to be performed by Seller, within ten (10) days of
written notification of such failure, Purchaser may, at its option, terminate this
Agreement by giving written notice of termination to Seller. Purchaser shall have
the right to seek and enforce all rights and remedies available at law or in equity to
a contract vendee, including the right to seek specific performance of this
Agreement.
9.02 The parties acknowledge that the remedies described herein and in the other
provisions of this Agreement provide mutually satisfactory and sufficient remedies 0
to each of the parties and take into account the peculiar risks and expenses of N.
each of the parties.
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X. SELLER'S AND PURCHASER'S REPRESENTATIONS AND WARRANTIES a
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10.01 Seller and Purchaser represent and warrant the following:
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10.011 Seller and Purchaser have full right and authority to enter into and to
execute this Agreement and to undertake all actions and to perform all tasks
required of each hereunder. Seller is not presently the subject of a pending, a
threatened or contemplated bankruptcy proceeding.
10.012 Seller has full right, power, and authority to own and operate the
Property, and to execute, deliver, and perform its obligations under this
Agreement and the instruments executed in connection herewith, and to
consummate the transaction contemplated hereby. All necessary
authorizations and approvals have been obtained authorizing Seller and
Purchaser to execute and consummate the transaction contemplated hereby.
Packet Pg. 199
16.A.7. a
CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER: 41560040006 & 41560080008
At Closing, certified copies of such approvals shall be delivered to Purchaser
and/or Seller, if necessary.
10.013 The warranties set forth in this paragraph shall be true on the date of
this Agreement and as of the date of Closing. Purchaser's acceptance of a
deed to the said Property shall not be deemed to be full performance and
discharge of every agreement and obligation on the part of the Seller to be
performed pursuant to the provisions of this Agreement.
10.014 Seller represents that it has no knowledge of any actions, suits, claims,
proceedings, litigation or investigations pending or threatened against Seller, at
law, equity or in arbitration before or by any federal, state, municipal or other
governmental instrumentality that relate to this agreement or any other
property that could, if continued, adversely affect Seller's ability to sell the
Property to Purchaser according to the terms of this Agreement.
10.015 No party or person other than Purchaser has any right or option to
acquire the Property or any portion thereof.
10.016 Until the date fixed for Closing, so long as this Agreement remains in
force and effect, Seller shall not encumber or convey any portion of the
Property or any rights therein, nor enter into any agreements granting any
person or entity any rights with respect to the Property or any part thereof,
without first obtaining the written consent of Purchaser to such conveyance,
encumbrance, or agreement which consent may be withheld by Purchaser for
any reason whatsoever.
10.017 Seller represents that there are no incinerators, septic tanks, or U
cesspools on the Property; all waste, if any, is discharged into a public sanitary
sewer system; Seller represents that they have (it has) no knowledge that any o
pollutants are or have been discharged from the Property, directly or indirectly
into any body of water. Seller represents the Property has not been used for =
the production, handling, storage, transportation, manufacture or disposal of E
hazardous or toxic substances or wastes, as such terms are defined in
applicable laws and regulations, or any other activity that would have toxic a
results, and no such hazardous or toxic substances are currently used in
connection with the operation of the Property, and there is no proceeding or
inquiry by any authority with respect thereto. Seller represents that they have
(it has) no knowledge that there is ground water contamination on the Property w
or potential of ground water contamination from neighboring properties. Seller a
represents no storage tanks for gasoline, or any other substances are or were
located on the Property at any time during or prior to Seller's ownership
thereof. Seller represents none of the Property has been used as a sanitary
landfill.
10.018 Seller has no knowledge that the Property and Seller's operations
concerning the Property are in violation of any applicable Federal, State or
local statute, law or regulation, or of any notice from any governmental body
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16.A.7.a
CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER41560040006 & 41550080005
has been served upon Seller claiming any violation of any law, ordinance, code
or regulation or requiring or calling attention to the need for any work, repairs,
construction, alterations or installation on or in connection with the Property in
order to comply with any laws, ordinances, codes or regulation with which
Seller has not complied.
10.019 There are no unrecorded restrictions, easements, or rights of way
(other than existing zoning regulations) that restrict or affect the use of the
Property, and there are no maintenance, construction, advertising,
management, leasing, employment, service or other contracts affecting the
Property
10.020 Seller has no knowledge that there are any suits, actions or arbitration,
bond issuances or proposals therefor, proposals for public improvement
assessments, pay -back agreements, paving agreements, road expansion or
improvement agreements, utility moratoriums, use moratoriums, improvement
moratoriums, administrative or other proceedings or governmental
investigations or requirements, formal or informal, existing or pending or
threatened which affects the Property or which adversely affects Seller's ability
to perform hereunder; nor is there any other charge or expense upon or related
to the Property which has not been disclosed to Purchaser in writing prior to
the effective date of this Agreement.
10.021 Seller acknowledges and agrees that Purchaser is entering into this
Agreement based upon Seller's representations stated above and on the
understanding that Seller will not cause the zoning or physical condition of the
Property to change from its existing state on the effective date of this
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Agreement up to and including the Date of Closing. Therefore, Seller agrees
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not to enter into any contracts or agreements pertaining to or affecting the
Property and not to do any act or omit to perform any act which would change
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the zoning or physical condition of the Property or the governmental
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ordinances or laws governing same. Seller also agrees to notify Purchaser
promptly of any change in the facts contained in the foregoing representations
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and of any notice or proposed change in the zoning, or any other action or
notice, that may be proposed or promulgated by any third parties or any
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governmental authorities having jurisdiction of the development of the property
which may restrict or change any other condition of the Property.
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10.022 At the Closing, Seller shall deliver to Purchaser a statement
(hereinafter called the "Closing Representative Statement") reasserting the
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foregoing representations as of the Date of Closing, which provisions shall
survive the Closing.
10.023 Seller represents, warrants and agrees to indemnify, reimburse, defend
and hold Purchaser harmless from any and all costs (including attorney's fees)
asserted against, imposed on or incurred by Purchaser, directly or indirectly,
pursuant to or in connection with the application of any federal, state, local or
common law relating to pollution or protection of the environment which shall
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CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER: 41560040006 & 41560080008
16.A.7.a
be in accordance with, but not limited to, the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980, 42 U.S.C. Section 9601,
et seq., ("CERCLA" or "Superfund"), which was amended and upgraded by the
Superfund Amendment and Reauthorization Act of 1986 ("SARA"), including
any amendments or successor in function to these acts. This provision and
the rights of Purchaser, hereunder, shall survive Closing and are not deemed
satisfied by conveyance of title.
10.024 Any loss and/or damage to the Property between the date of this
Agreement and the date of Closing shall be Seller's sole risk and expense.
E1=go] Le] 9 60-1
11.01 Any notice, request, demand, instruction or other communication to be
given to either party hereunder shall be in writing, sent by facsimile with
automated confirmation of receipt, or by registered, or certified mail, return receipt
requested, postage prepaid, addressed as follows:
If to Purchaser: Summer Araque, Coordinator
Conservation Collier Program
Collier County Parks and Recreation Division
Public Services Department
Golden Gate Community Park
3300 Santa Barbara Blvd.
Naples, Florida 34116
With a copy to: Vivian Rodriguez, Property Acquisition Specialist
Collier County Real Property Management
3335 Tamiami Trail East, Suite 102
Naples, Florida 34112
Telephone number: 239-252-8402
Fax number: 239-252-8876
If to Seller: Silvia M. Arias
10850 SW 30th Place
Davie, FL 33328
Telephone number: 305-965-5841
Fax number: NIA
11.02 The addressees and numbers for the purpose of this Article may be
changed by either party by giving written notice of such change to the other party
in the manner provided herein. For the purpose of changing such addresses or
addressees only, unless and until such written notice is received, the last
addressee and respective address stated herein shall be deemed to continue in
effect for all purposes.
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16.A.7.a
CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER 41560040006 & 41560080008
XII. REAL ESTATE BROKERS
12.01 Any and all brokerage commissions or fees shall be the sole responsibility
of the Seller. Seller shall indemnify Purchaser and hold Purchaser harmless from
and against any claim or liability for commission or fees to any broker or any other
person or party claiming to have been engaged by Seller as a real estate broker,
salesman or representative, in connection with this Agreement. Seller agrees to
pay any and all commissions or fees at closing pursuant to the terms of a separate
agreement, if any.
XIII. MISCELLANEOUS
13.01 This Agreement may be executed in any manner of counterparts which
together shall constitute the agreement of the parties.
13.02 This Agreement and the terms and provisions hereof shall be effective as of
the date this Agreement is executed by both parties and shall inure to the benefit
of and be binding upon the parties hereto and their respective heirs, executors,
personal representatives, successors, successor trustee, and assignees
whenever the context so requires or admits.
13.03 Any amendment to this Agreement shall not bind any of the parties hereof
unless such amendment is in writing and executed and dated by Purchaser and
Seller. Any amendment to this Agreement shall be binding upon Purchaser and
Seller as soon as it has been executed by both parties.
13.04 Captions and section headings contained in this Agreement are for
convenience and reference only; in no way do they define, describe, extend or
limit the scope or intent of this Agreement or any provisions hereof.
13.05 All terms and words used in this Agreement, regardless of the number and N
gender in which used, shall be deemed to include any other gender or number as =
the context or the use thereof may require. E
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13.06 No waiver of any provision of this Agreement shall be effective unless it is in a
writing signed by the party against whom it is asserted, and any waiver of any
provision of this Agreement shall be applicable only to the specific instance to
which it is related and shall not be deemed to be a continuing or future waiver as
to such provision or a waiver as to any other provision. w
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13.07 If any date specified in this Agreement falls on a Saturday, Sunday or legal
holiday, then the date to which such reference is made shall be extended to the
next succeeding business day.
13.08 Seller is aware of and understands that the "offer" to purchase represented
by this Agreement is subject to acceptance and approval by the Board of County
Commissioners of Collier County, Florida.
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CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER 41560040006 & 41560080008
16.A.7.a
13.09 If the Seller holds the Property in the form of a partnership, limited
partnership, corporation, trust or any form of representative capacity whatsoever
for others, Seller shall make a written public disclosure, according to Chapter 286,
Florida Statutes, under oath, of the name and address of every person having a
beneficial interest in the Property before Property held in such capacity is
conveyed to Collier County. (If the corporation is registered with the Federal
Securities Exchange Commission or registered pursuant to Chapter 517, Florida
Statutes, whose stock is for sale to the general public, it is hereby exempt from the
provisions of Chapter 286, Florida Statutes.)
13.10 This Agreement is governed and construed in accordance with the laws of
the State of Florida.
XIV. ENTIRE AGREEMENT
14.01 This Agreement and the exhibits attached hereto contain the entire
agreement between the parties, and no promise, representation, warranty or
covenant not included in this Agreement, or any such referenced agreements has
been or is being relied Upon by either party. No modification or amendment of this
Agreement shall be of any force or effect unless made in writing and executed and
dated by both Purchaser and Seller. Time is of the essence of this Agreement.
IN WITNESS WHEREOF, the parties hereto have signed below.
Dated Project/Acquisition Approved by BCC:
AS TO PURCHASER:
ATTEST:
CRYSTAL K. KINZEL, Clerk of the
Circuit Court and Comptroller
, Deputy Clerk
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
Aw
RICK LOCASTRO, Chairman
[SIGNATURE APPEARS ON THE FOLLOWING PAGE]
Packet Pg. 204
16.A.7.a
CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER: 41560040006 & 41560080008
AS TO SELLER.-
❑ATED �./[ r t 6. �C
WITNESSES:
(Signature)
(Printed Name)
(Signature} 'y t(�
(Printed Na e)
Approved as to form and legality:
Ronald T, Tomasko, Assistant County Attorney
SILVIA M. ARIAS
Q
U1
Packet Pg. 205
CONSERVATION COLLIER
TAX IDENTIF;CATION NUMBER_ 41560040006 & 41560080008
16.A.7.a
EXHIBIT "A"
PROPERTY IDENTIFICATION NUMBER: 41560040006
LEGAL DESCRIPTION:
EAST 150 FEET OF TRACT 121, UNIT. 91A, GOLDEN GATE ESTATES,
ACCORDING TO PLAT THEREOF RECORDED IN PLAT BOOK 9,
PAGE 9, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA.
3.16 acres
AND
PROPERTY IDENTIFICATION NUMBER: 41560080008
LEGAL DESCRIPTION:
WEST 180 FEET OF TRACT 121, UNIT 91A, GOLDEN GATE ESTATES,
ACCORDING TO PLAT THEREOF RECORDED IN PLAT BOOK 9,
PAGE 9, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA.
3.78 acres
l7
Packet Pg. 206
16.A.7.d
Conservation Collier Land Acquisition Program
Project Design Report
Arias Property
Date: June 2023
Property Owner: Silvia M. Arias
Folios : 41560040006 and 41560080008
Location: GOLDEN GATE EST REPLAT UNIT 91A E 150FT and W 18OFT OF TR 121
Size: 6.94 acres (41560040006 — 3.16 acres; 41560080008 — 3.78 acres)
Purchase Price: $116,100 (41560040006 — $56,700; 41560080008 — $59,400)
History of Proiect:
Selected for the
Selected
Original
Original
Updated
Updated
"A" category,
for the "A"
Purchase
Offer
Offer Made
Offer
#1 priority, on
category,
offer made
Accepted
Accepted
the Active
#1 priority,
to owners
Acquisition
on AAL by
List (AAL) by
BCC
CCLAAC
12/9/22
1/25/2022
9/22/2022
10/11/2022
3/2/2023
3/27/23
Purpose of Proiect: Environmental Conservation — Conservation Collier Program
Program Oualifications:
These parcels are adjacent to the Dr. Robert H. Gore III Preserve. The Arias parcels were
considered due to their proximity to an existing Conservation Collier preserve. The Arias project
met 5 out of 6 Initial Screening Criteria identified in the Conservation Collier Ordinance, No.
2007-65, as amended, including presence of native habitat, potential for nature -based recreational
and educational opportunities, protection of water resource values and wetland dependent species
habitat, presence of significant biological/ecological values, listed species habitat, connectivity,
and restoration potential.
Potential access for nature -based recreation, and enhancement of the aesthetic setting of Collier
County
These parcels are not accessible by a paved road; however, they could accommodate outdoor
recreation, due to their proximity to the Dr. Robert H. Gore III Preserve.
Opportunities for protection of water resource values, including aquifer recharge, water quality
enhancement, protection of wetland dependent species habitat, and flood control
The parcels have many wetland dependent plant species and contain karst topography, which is a
wetland indicator, despite soils that indicate that wetlands may also be seasonal. The parcels
provide minimal water quality enhancement beyond accommodating sheet flow into the I-75 canal.
Packet Pg. 207
16.A.7.d
Property enhances and/or protect the environmental value of current conservation lands
through function as a buffer, ecological link, or habitat corridor
The Arias parcels expand the Dr. Robert H. Gore III Preserve. These parcels, joined with many
others, could also permanently protect a corridor between North Belle Meade and the Florida
Panther National Wildlife Refuge.
Zoning, Growth Management and Land Use Overlays: The parcels are within the Northern
Golden Gate Estates. The zoning classification is Estates (E), a rural residential classification.
There are no additional land use overlays applicable.
Projected Management Activities: Projected management activities include the removal of
invasive plants, the development of a Land Management Plan, and continued development of
public access to selected portions of the preserve.
Estimated Management Costs:
Management
Element
2023
2024
2025
2026
2027
Exotics
$3,470
$2,776
$2,776
$2,776
$1,735
Signage
$200
Total
$3,670
$2,776
$2,776
$2,776
$1,735
SEE PAGES 3 AND 4 FOR AERIAL MAPS OF THE PARCEL.
2
Packet Pg. 208
16.A.7.d
C
FI ARIAS, SILVIA M
Dr. Robert Gore III Preserve
Property Owner Accepted Offer
CO N'IMWAT 10 N
C LLIER
coLlfiier couxty
Packet Pg. 209
16.A.7.d
0 0.2
Miles
Coi�ier County
E
Packet Pg. 210
Carlson Norris
3.16 ACRES OF VACANT LAND
UNASSIGNED
North of I-75
NAP LE , FLORIDA 34117
Prepared For:
Collier Count{ Board of
Commissioners
Attention: Roosevelt Leonard, Rr W-
AC, .Senior Review Appraiser
Real Property Management
3335 Tarniammi Trail East, Suite 101
Naples, Florida 34112
Prepared By.-
1919 COUrtney Drive. Suite 14
Fort Myers, FL 33901
(39) 9 36-1991
Y-) 4,Iw. Carlson Morris. cQ rn
August 12, 2022
Collier County Board of Commissioners
Attention: Roosevelt Leonard, R/W-AC, Senior Review Appraiser
Real Property Management
3335 Tamiami Trail East, Suite 101
Naples, Florida 34112
Re: 3.16 Acres of Vacant Land
North of 1-75
Naples, Florida 34117
Our File Number: 22-179-7A
PO #4500217055
Dear Mr. Leonard,
At your request and authorization, Carlson, Norris and Associates, Inc. have prepared an appraisal
presented in an Appraisal Report of the market value for the above referenced real property. Per
the request of the client, we have provided the market value of the subject on an As -Is basis. The
interest appraised includes the fee simple estate of the subject property.
The subject property is vacant land located approximately 170+/- feet north of 1-75 and 648+/- feet
south of 401" Ave SE in Naples, Florida. There is no road access to the property. The site is
rectangular in shape and contains 3.16 acres or 137,650 square feet. The site is vacant, fully
wooded and 100% forested/shrub wetlands. The property contains 80% hydric slough and
depressional soils with 20% being uplands. There are no building improvements. The site will be
more fully described within the body of the attached report.
Data, information, and calculations leading to the value conclusion are incorporated in the report
following this letter. The report, in its entirety, including all assumptions and limiting conditions, is
an integral part of, and inseparable from, this letter. Any special assumptions and limiting
considerations were especially noted in Section 7 of this report. Your attention is directed to these
General Assumptions and Limiting Conditions which are part of this report.
The following appraisal sets forth the most pertinent data gathered, the techniques employed, and
the reasoning leading to the opinion of value. The analyses, opinions and conclusions were
developed based on, and this report has been prepared in conformance with, our interpretation of
the guidelines and recommendations set forth in the Uniform Standards of Professional Appraisal
Practice (USPAP) of the Appraisal Foundation, the requirements of the Code of Professional
Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) and Title XI Regulations
1919 Courtney Drive I Fort Myers, FL 339011 Phone 239.936.1991 1 www.carlsonnorris.com
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
August 12, 2022
Page 2
Carlson, Norris and Associates, Inc. does not authorize the out -of -context quoting from or partial
reprinting of this appraisal report. Further, neither all nor any part of this appraisal report shall be
disseminated to the general public by the use of media for public communication without the prior
written consent of the appraiser signing this report.
Based on market conditions existing as of the effective date of appraisal, and in consideration of
the property as it existed on this date, it is our opinion the subject property, under the extraordinary
assumptions as discussed in this report, warranted a market value in its "as is" condition in fee
simple ownership on August 1, 2022 of:
SIXTY-THREE THOUSAND DOLLARS...................................................................... ($63,000.00).
PLEASE NOTE: The Novel Coronavirus (COVID-19) outbreak, declared by the World Health
Organization as a global health emergency on 1-30-2020, is causing heightening uncertainty in
local, national and global markets. This outbreak was identified as a pandemic on 3-11-2020 and
further classified as a National Emergency on 3-13-2020. Worldwide cases of COVID-19 have
been identified and the scope of this crisis has expanded. Travel and "shelter in place" restrictions
have been implemented to "blunt the curve" of infections and stem the scale and longevity of this
outbreak. A prolonged medical and economic crisis may have a significant, yet unquantifiable
impact on real estate markets.
The information provided within this appraisal is based on market data available at this juncture
(date of value and date of the report). However, due to the significant uncertainty in property and
capital markets, as well as the rapid unfolding of this event, it is indeterminable for the appraiser to
quantify and assess the impact that this outbreak has had/or will have on real estate property
values. Values and incomes may change more quickly and significantly than during more typical
market conditions.
It should be emphasized that the results of this appraisal analysis and the value
conclusions reported herein are based on the effective date of the appraisal and the
appraiser makes no representation as to the effect on the subject property of any
unforeseen event subsequent to the effective date.
Please refer to the attached appraisal report, plus exhibits, for documentation of the value
estimates contained herein. It has been a pleasure to assist you in this assignment. If you have
any questions concerning the analysis, or if Carlson, Norris and Associates can be of further
service, please contact us.
Respectfully submitted,
Michael Jonas, MAI, AI-GRS, CCIM
State -certified general real estate appraiser RZ2623
s
I
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
TABLE OF CONTENTS
SUBJECT AERIAL PHOTOGRAPH............................................................................................................1
SECTION 1 - SUMMARY OF SALIENT FACTS........................................................................3
SECTION 2 - PREMISES OF THE APPRAISAL.......................................................................5
INTENDED USE AND USER OF APPRAISAL........................................................................................................ 5
SCOPEOF WORK..............................................................................................................................................
5
SALESHISTORY................................................................................................................................................8
VALUATIONHISTORY........................................................................................................................................9
APPRAISAL ANALYSIS AND REPORT TYPE........................................................................................................9
EXPOSURETIME...............................................................................................................................................9
MARKETINGTIME............................................................................................................................................10
SECTION 3 - DESCRIPTION OF REAL ESTATE APPRAISED................................................12
COLLIER COUNTY AREA ANALYSIS................................................................................................................12
LOCATIONMAP...............................................................................................................................................27
MARKET AREA DESCRIPTION.........................................................................................................................28
LEGALDESCRIPTION......................................................................................................................................31
OWNEROF RECORD.......................................................................................................................................32
ASSESSEDVALUE AND TAXES.......................................................................................................................32
SITEDESCRIPTION..........................................................................................................................................32
SUBJECT PROPERTY PHOTOGRAPHS.............................................................................................................38
SECTION 4 - HIGHEST AND BEST USE ANALYSIS.............................................................40
HIGHEST AND BEST USE AS THOUGH VACANT...............................................................................................40
SECTION 5 - VALUATION OF THE SUBJECT......................................................................42
VALUE ESTIMATE BY THE COST APPROACH..................................................................................................42
VALUE ESTIMATE BY THE INCOME APPROACH..............................................................................................42
VALUE ESTIMATE BY THE SALES COMPARISON APPROACH.........................................................................42
SECTION 6 - RECONCILIATION OF VALUE.........................................................................60
SUMMARY OF VALUE CONCLUSIONS..............................................................................................................60
SECTION 7 - CERTIFICATION AND LIMITING CONDITIONS..................................................61
CERTIFICATION OF MICHAEL JONAS, MAI, AI-GRS, CCIM...........................................................................61
GENERAL ASSUMPTIONS & LIMITING CONDITIONS.........................................................................................63
SECTION 8 -ADDENDA ....................................................................................................68
SUBJECT QUITY CLAIM DEED..............................................................................................69
FDEPMAP....................................................................................................................71
WETLANDSMAP.............................................................................................................................................72
SOILMAP.......................................................................................................................................................73
FLOODMAP....................................................................................................................................................74
APPRAISERLICENSE......................................................................................................................................75
QUALIFICATIONS OF MICHAEL JONAS, MAI, AI-GRS, CCIM.........................................................................76
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Section 1 - Summary of Salient Facts
Property Reference: 41560040006
Property Type: Vacant Land
Property Address: Unassigned, North of 1-75
Naples, Florida 34117
Report Format:
Appraisal Report
Date Of Inspection:
August 1, 2022
Date Of Value:
August 1, 2022
Date Of Report:
August 12, 2022
Real Estate Interest
Appraised:
Fee Simple
Purpose Of Appraisal: The purpose of this appraisal is to provide our estimate of the
"as is" market value of the fee simple interest of the subject
property for our client according to the reporting standards of the
Uniform Standards of Professional Appraisal Practice (USPAP),
and subject to the extraordinary assumptions stated herein.
Use of the Appraisal: The intended use of the appraisal is to assist the user, the
Collier County Board of County Commissioners, in the potential
acquisition of the subject property.
Intended Users: The intended user of this appraisal is the Collier County Board of
County Commissioners.
Appraisal Client: The client for this appraisal assignment is the Collier County
Board of County Commissioners.
Location: The property is located off approximately 170+/- feet north of I-
75 and 648+/- feet south of 401h Ave SE in Naples, Florida. The
site does not have any road access and there does not appear
to be any access easements in existence according to the
subjects Plat records. The subject property can be found in
Section 33, Township 49, Range 28, in Collier County, Florida.
Site Description: The site is rectangular in shape, contains 137,650 square feet or
3.16 acres. The site is fully wooded and is made up of 100%
Freshwater Forested/Shrub Wetlands according to the National
Wetlands Inventory map. In addition, the USDA Web Soil
Survey Map shows 64.8% Brynwood Cypress Lake fine sand,
6% Brynwood fine sand -urban land complex fine sands and
29.3% Cypress Lake Riviera Copeland fine sands present for
the subject. The FDEP informal wetland determination map
provided by the client indicates the site is 80% hydric
depressional and slough soils with 20% being uplands. The
K
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
property is currently vacant and unimproved. The site will be
more fully described within the body of the attached report.
Comprehensive Land Use
Plan Designation: Estates Designation
Zoning Classification: E-Estates
Highest And Best Use As The highest and best use for the site would be for low density
Vacant: agriculture use consistent with the comprehensive land use plan
classification and zoning classification affecting the property.
Highest And Best Use As The subject property is a vacant unimproved parcel and as such
Improved: an analysis of the site as improved is not appropriate in this
analysis.
Market Value Indications Cost Approach: Not Applicable
"As Is": Income Capitalization Approach: Not Applicable
Sales Comparison Approach: $63,000
Market Value Estimate as
of August 1, 2022:
Appraisal Firm:
Appraisers Completing
Report:
$63,000
Carlson, Norris and Associates, Inc.
Michael Jonas, MAI, AI-GRS, CCIM
State -certified general real estate appraiser RZ2623
• I, Michael Jonas, the supervisory appraiser of a registered trainee appraiser who
contributed to the development or communication of this appraisal, hereby accept
complete responsibility for any work performed by the registered trainee appraiser named
in this report as if it were my own work.
• Hannah Dwyer, State -Registered Appraiser Trainee R125089, contributed to the
development of the appraisal report in the form of 45 hours. She assisted on the property
inspection, compiled property information, assisted in the highest and best use,
researched and analyzed comparable sale and contributed in the writing of the appraisal
report.
• As of the date of this report, Michael Jonas has completed the requirements of the
continuing education program if the State of Florida, and for the Designated Members of
the Appraisal Institute. As of the date of this report, Hannah Dwyer has completed the
requirements of the continuing education program of the State of Florida.
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COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Section 2 - Premise of the Appraisal
Purpose of Appraisal: The purpose of this appraisal is to estimate the market value of the fee
simple interest of the subject property described on an "as is" basis, under the reporting
requirements of the Uniform Standards of Professional Appraisal Practice (USPAP), as defined by
the Appraisal Foundation.
Use of the Appraisal: The intended use of this appraisal is the user, the Collier County Board of
County Commissioners, in the potential acquisition of the subject property.
Intended User of Appraisal: The intended user of the appraisal is the Collier County Board of
County Commissioners.
Client: The client for this report is the Collier County Board of County Commissioners.
Competency of Appraiser: The appraisers' specific qualifications are included within this report.
These qualifications serve as evidence of their competence for the completion of this appraisal
assignment in compliance with the competency provision contained within the Uniform Standards
of Professional Appraisal Practice as promulgated by the Appraisal Standards Board of the
Appraisal Foundation. The appraisers' knowledge and experience, combined with their
professional qualifications, are commensurate with the complexity of this assignment based on the
following:
• Professional experience
• Educational background and training
• Business, professional, academic affiliations and activities
The appraiser has previously provided consultation and value estimates for vacant parcels located
throughout Southwest Florida.
Scope of Work: The Uniform Standards of Professional Appraisal Practice (USPAP) define the
scope of work as: "the type and extent of research and analyses in an assignment". "The scope of
work includes, but is not limited to: the extent to which the property is identified, the extent to which
5
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
tangible property is inspected, the type and extent of market research and the type and extent of
analysis applied to arrive at opinions or conclusions."
The scope of this appraisal has been to collect, confirm, and report data. Other general market
data and conditions have been considered. Consideration has been given the property's zoning
and surrounding improvements and neighborhood. The work performed for this assignment
included but is not limited to the following:
• Extent to which the property was identified
o The property was identified by its STRAP Number, address and legal description.
• Extent to which the property was inspected
o An inspection of the property being appraised as well as the neighborhood in which it
is located was done on August 1, 2022. Please note, the appraiser was not able to
view the property site from 40t" Ave SE nor 42nd Ave SE due to the surrounding wood
and brush encompassing the subject and lack of any access road or trail and therefore
relied primarily on aerial visuals from the Collier County Property Appraisers website
and the neighboring property attributes.
• Type and extent of analysis applied
o The value opinions presented in this report are based upon review and analysis of the
market conditions affecting real property value, including land values and sales data for
similar properties.
o Three approaches were considered to be utilized in determining value. 1) Cost
Approach — either replacement or reproduction cost is used to develop a value
indication for the subject property. 2) Income Approach — valued on the ability of a
property generating a cash stream. 3) Sales Comparison Approach — value indication
is derived by comparing sales of similar properties. It is the most common and
preferred method of land valuation when an appropriate supply of comparable sales is
available.
o As the subject property contains no improvements, the Cost Approach is not
considered to be an applicable appraisal tool.
I
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
o Vacant land is not generally purchased for its ability to generate a cash stream;
therefore, the Income Approach is not utilized.
o The analyst will utilize the Sales Comparison Approach exclusively in estimating the
market value for the subject property.
o Collection and analysis of comparable land sales in order to perform an opinion of
value for the underlying land.
■ An investigation of comparable land sales and active listings of similar
unimproved properties were utilized. Five sales were considered in order to
make a comparative analysis which would lead to the completion of the Sales
Comparison Approach.
o The value opinion presented in this report is based upon review and analysis of the
market conditions affecting real property value, including land values, the attributes of
competitive properties, and sales data for similar properties.
o Reconciling the value indications from the appropriate approaches to value into a final
value opinion for the subject property; all as of the effective date of this report.
o Preparation of a written report.
To develop the opinion of value, Carlson, Norris and Associates, Inc. performed an appraisal as
defined by the Uniform Standards of Professional Appraisal Practice (USPAP). In this appraisal,
Carlson, Norris and Associates, Inc. used the Sales Comparison Approach to develop a reliable
value indication.
Furthermore, the value conclusion reflects information about the subject and market conditions.
The appraisal of the subject parcel has been presented in the form of an Appraisal Report, which
is intended to comply with the reporting requirements set forth under Standards Rule 2-2(a) of the
USPAP.
Property Rights Appraised: The property ownership rights appraised in this appraisal are those
known as fee simple.
7
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Fee Simple Estate is defined 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.",
Market Value Definition is defined in the Agencies' appraisal regulations as: "The most probable
price that a property should bring in a competitive and open market under all conditions requisite to
a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price
is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a
specified date and the passing of title from seller to buyer under conditions whereby:
• Buyer and seller are typically motivated;
• Both parties are well informed or well advised, and acting in what they consider their
own best interests;
• A reasonable time is allowed for exposure in the open market;
• Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements
comparable thereto; and
• The price represents the normal consideration for the property sold unaffected by
special or creative financing or sales concessions granted by anyone associated with
the sale."
(Source: Interagency Appraisal and Evaluation Guidelines; December 10, 2010, Federal
Register, Volume 75, Number 237, Page 77472)
Date of Property Inspection: August 1, 2022
Date of Value Estimate "As Is": August 1, 2022
Date of the Report: August 12, 2022
Sales History: The Uniform Standards of Professional Appraisal Practice requires a statement of
the listings, purchase contracts and sales history of the subject property for the three years prior to
the appraisal date. The subject property has not been sold or transferred within the past 5 years.
The most recent transfer of the property occurred on June 7, 2005 (OR 3815-669) and was
recorded as a Quit Claim Deed. The Grantor is shown as Eladio R. Arias and the Grantee is
1 Unless otherwise noted, all definitions in italics are taken from The Dictionary of Real Estate Appraisal, Sixth Edition, the Appraisal
Institute, Chicago, Illinois (U.S., 2015)
8
COLLIER
COUNTY BOARD
OF COUNTY COMMISSIONERS
C A R L S O N,
NORRIS
& ASSOCIATES
shown as Eladio R.
Arias and Silvia M.
Arias.
A copy of the quit claim deed can be found in the
addenda of this report.
Active Listing/Purchase Agreement: The subject is not currently under a purchase agreement
or listed for sale.
Valuation History: The Uniform Standards of Professional Appraisal Practice requires the
appraiser to divulge any services provided on the subject property during the preceding three
years. Carlson, Norris and Associates has not previously appraised the subject in the past three
years, nor have we provided additional services related to the subject property during this time
period.
Appraisal Analysis and Report Type: The Appraisal Standards Board controls the process of
making an appraisal of a parcel of real estate. The Board issues rules and guidelines from which
all appraisals and resulting reports are made. The process of administration of those rules and
guidelines is addressed to the Real Estate Appraiser Commission of each respective state. The
Appraisal Standards Board issues the rules and guidelines in the form of a document update
published each year by The Appraisal Foundation. That document is entitled "The Uniform
Standards of Professional Appraisal Practice" (USPAP).
As of January 1, 2016, the two types of appraisal types are; Appraisal Report and Restricted
Appraisal Report. The following definitions have been adopted for each type of report:
• An Appraisal Report: A written report prepared under Standards Rule 2-2(a).
• Restricted Appraisal Report: A written report prepared under Standards Rule 2-
2(b)
This appraisal is reported in an Appraisal Report format.
Exposure Time: Exposure time is the estimated length of time the property would have been
offered prior to a hypothetical market value sale on the effective date of appraisal. It is a
retrospective estimate based on an analysis of recent past events, assuming a competitive and
open market. It assumes not only adequate, sufficient, and reasonable time but also adequate,
sufficient, and reasonable marketing effort. Exposure time is therefore interrelated with appraisal
conclusion of value.
T
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
An estimate of exposure time is not intended to be a prediction of a date of sale or a simple one -
line statement. Instead, it is an integral part of the appraisal analysis and is based on one or more
of the following:
• statistical information about days on the market
• information gathered through sales verification
• interviews of market participants.
The reasonable exposure period is a function of price, time, and use. It is not an isolated estimate
of time alone. Exposure time is different for various types of real estate and under various market
conditions.
In consideration of these factors, we may have analyzed the following:
• Exposure periods of comparable sales revealed during the course of this appraisal;
• Macroeconomic exposure times for the subject property type across the Subject MSA and
the entire United States as published in multiple articles and websites.
• Knowledgeable real estate professionals.
We have also had numerous discussions with brokers active in the Collier County - Southwest
Florida area. All of these persons have indicated the land market has had varying degrees of
activity dependent on type and location.
We have also had discussions with multiple persons having active listings within the market area.
These properties have been on the market from a few months to a few years. The realtors
indicated that they have received mixed levels of interest in the properties at the list prices.
Based on this information it is our opinion an exposure time of twelve months or less appears to be
reasonable and appropriate. This exposure time assumes the subject parcel would have been
competitively priced and aggressively promoted within the market area.
Marketing Time is defined as: "An opinion of the amount of time it might take to sell a real or
personal property interest at the concluded market value level during the period immediately after
10
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
the effective date of an appraisal. Marketing time differs from exposure time, which is always
presumed to precede the effective date of an appraisal.
Marketing time is the period a prospective investor would forecast to sell the subject property
immediately after the date of value, at the value estimated. The marketing time is an estimate of
the number of months it will require to sell the subject from the date of value, into the future. The
anticipated marketing time is essentially a measure of the perceived level of risk associated with
the marketability, or liquidity, of the subject property. The marketing time estimate is based on the
data used in estimating the reasonable exposure time, in addition to an analysis of the anticipated
changes in market conditions following the date of appraisal. The future price for the subject (at the
end of the marketing time) may or may not equal the appraisal estimate. The future price depends
on unpredictable changes in the physical real estate, demographic and economic trends, real
estate markets in general, supply/demand characteristics for the property type, and many other
factors.
Based on the premise that present market conditions are the best indicators of future performance,
a prudent investor will forecast that, under the conditions described above, the subject will require
a marketing time of twelve months or less.
11
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Section 3 - Description of Real Estate Appraised
COLLIER COUNTY AREA ANALYSIS
C t LA Placid
is wo Wed G �j�l �be*Dkind
Martin
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t
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arJ
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The subject property is located within Collier County, Florida, some 150 miles south of Tampa and
some 140 miles northwest of Miami. Collier County is located on the extreme southwestern portion
of the state of Florida. Collier County was created in 1923 and was separated out from what was a
larger Lee County. Collier County is named for Barron Collier, a New York City advertising mogul
and real estate developer who had moved to southwest Florida and established himself as
prominent business man and land owner. By the end of the decade railroads and Tamiami Trail
were in -place which opened the area to agricultural and resort development. Florida's first
commercial oil well was drilled in 1943, and the county's pine and cypress logging industry
flourished into the 1950s. The county's economy boomed along with its population shortly after
World War II. In a short span of 30 years the population increased from 6,500 to 86,000 by 1980.
The economy was sustained from agribusiness, tourism and real estate. This turned the county
into one of the fastest growing areas in the country.
12
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
PHYSICAL FACTORS
It is the largest county in the state in terms of land area with 1,998 square miles which includes
821,600 acres of preserves, parks, and refuges. Along with the land area Collier County also has
307 square miles of water to give Collier County a total size of 2,305 square miles. The most
highly developed areas within the county are west of Interstate 75 and along the coastline of the
Gulf of Mexico. Development becomes increasingly sparse the more easterly the location in the
county; and these easterly areas of the county contain a considerable amount of preserved land.
There are three incorporated cities within the county; namely City of Naples, City of Marco Island,
and Everglades City.
The county is famous for its subtropical climate with average high temperatures ranging from 781
F. in January to 921 Fahrenheit in August. The average annual precipitation for the county is 56
inches. This area is also subject to tropical storms and hurricanes. The hurricane season runs
from June through November.
Collier County,
A&Mth
Januaiy
FL Historical
Average
65.67
Temperature
Max Average
7B.6T
Min Average
52.6a:
Collier County,
monffi
January
FL Rainfall and Snowfall
AveragL Rainfall
0.52Inches
Average
Average Sr!�3-
0Inches
February
66.63
79.03-
54Z
February
1.91 Inches
Olnches
Mai-ch
67.29
811
53.45-
March
2.62 Inches
0 Inches
April
74.83`
87.2`
62.36`
April
4.32Inches
Olnches
May
78.6`
90.15`
67`
May
4.18Inches
0Inches
June
81.98`
91.48`
72.54:
June
9.82Inches
Olnches
July
BY
90.47-
75.48:
July
5.74Inches
0Inches
August
8187-
92.43-
75.33-
August
6.91 Inches
0Inches
September
82.93
91.33-
74.53-
September
9.04 Inches
0 Inches
Dctober-
77.3-
86.33-
68Z
October
5.Z4Inches
Olnches
No ember-
70.77
81.BY
59.7T
November
0.82 Inches
O Inches
December-
65.98`
77.48`
54.45`
December-
2.9Inches
Olnches
ECONO C-FINANCIAL FACTORS
There are numerous economic factors that impact the supply and demand for all types of real
estate and housing in any given area. These factors will be considered and discussed in the
following paragraphs. Although these factors are considered individually, they do not act as
independent agents in the marketplace. They interact and effect, one another. Therefore, the
economic -financial factors considered, should be considered in totality, as a part of the economic
framework.
13
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Population: Collier County has 390,774 people living there according to recent 2020 Census
data. making Collier County Florida's 17"" most populous county. Collier County had a population
of 322,595 in 2010 and they have experienced a 68,179 person increase over 10 years or 19.37%
growth.
Year .
Population
Growth
Growth Rate
2020
390,774
6.143
1.60%
2019
384,631
6:143
1.62%
2018
378,488
6.143
1.65%
2017
372,345
7.000
1.92%
2016
365,345
9,238
2.59%
2015
356,107
8.781
2.53%
2014
347,326
8,261
2.44%
2013
339,065
6.780
2.04%
2012
332,277
4.645
1.42%
2011
327,632
5:037
1.56%
2010
322,595
170,496
112.10%
Additional population estimates reflect population projections from 2018 to the year 2045 and
compare the three coastal counties in the southwest Florida area. The counties include; Charlotte,
Collier and Lee. The population estimate for the year 2018 for Collier County was 367,000 (actual
was 378,488) and is predicted to increase to around 516,000 in year 2045. This would represent
a 1.064% per year or 26.6% increase in population over the entire period.
HIlgtorlc end Projected Population
Charlotte, CoHler, and Lee Counties
7 9fl::
HlStoriC Rrajerted
144fr �
°Y
eEM1."s
2018
F 14
2el6
m
3
r BW
Lee
cross
34ta
H7
-
sic
r
799a
335
400
Collier
CL
IL
1984
152
Po-ia
sx9
itd2GQ
_ —
_
0
1990 Charlotte
117
19W 1965 2ua erjun OJ10 A'1J Mu M0 20JC zo35 2Nu L045
5ouae! Qmle 01 ftvwmK Bnd oe 1pfiV11.0 Aesea [B
14
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Demographics within Collier County are predominately White at 89.3%, followed by Black or
African American at 7.4%, Asian at 1.6%, American Indian and Alaska Native at 0.5%, Native
Hawaiian and Other Pacific Islander at 0.1 % and then two or more races filling out the remaining
1.2%.
0 white alone, percent
b 89.3%
0 Black OF African American alone, percent ;a;:
d 7.4%
1)American Indian and Alaska Native alone. percent fa
d 0.5%
15Asian alone, percent (a)
p 1.6%
Native Hawaiian and Other Pacific Islander alone, percent :-.
� 0.1%
Two or More Races, percent
1.2%
() Hispanic or Latina; percent hl
b 28.2%
Q white alone, not Hispanic or Latino, percent
p 62.5%
Tourism: Tourism is important business for Naples, Marco Island and the Everglades. As the
leading employer and the primary economic engine for the region, the tourism industry is
responsible for over 38,500 jobs in Collier County. About 2 million visitors in 2019 spent over $1.5
billion dollars, resulting in a total economic impact of over $2.1 billion to Collier County. Collier
County enacts a 5% tax on all hotel, campground and vacation rental stays of less than six
months. The distribution of tourist development tax dollars is set according to Collier County
ordinance. The funds are dispersed as follows; beach related projects with 42.56% of the total
Tourist Tax, tourism promotion with 47.85%, and museums with 9.59. Of the 42.56% for beach
related projects, 3.58% is allocated for beach park facilities and the remaining 39.98% is used for
nourishment, pass & inlet management. Of the 47.85% for tourism promotion, 33.57% is used for
destination promotion and administration and the remaining 14.28% is used for amateur sports
complex/debt. Lastly, of the 9.59% allocated for museums, 7.68% is used for county museum
operations, and the remaining 1.91 % is used for non -county museum grants.
New Development: A relatively new town is developing in the eastern part of Collier County
known as Ave Maria. The town is located on what was once largely agricultural land is centered
around Ave Maria University, the country's newest Catholic University. The university opened its
doors in 2007 and currently has about 1,120 students, including 35 in graduate programs. The
school has plans to keep growing and ultimately incorporate around 5,500 more undergraduate
and graduate students. The town is designed to be a compact, walk -able, self-sustaining town
that reflects the community's rural roots while offering a full range of residential options and
commercial services to its residents. The Ave Maria community totals about 5,000 acres, of which
15
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
nearly 20% has designated as the University Campus. A Town Core anchored by the landmark
oratory that also incorporates retail, commercial, and residential living space provides a central
connection between the town and the university. Business is expanding in Collier County as
evidenced by a surgical device company that recently opened its doors on a site near Ave Maria
University in the form of a $25 million manufacturing plant. This construction brought 500
construction jobs to the area and currently employs around 350 workers, with more being added
all the time. Ave Maria has experienced a sever mosquito problem and as a result they have been
sprayed more than 30 times by very safe pesticides in 2015 making it the most sprayed area in
southwest Florida.
A new town has also been proposed in Eastern Collier County. Collier Enterprises got the
Rivergrass project through the Collier County Commission on January 28t", allowing them to begin
planning to develop a 1,000-acre township in Eastern Collier County. The plans are currently being
stalled as the project's impact on approximately 700 acres of primary panther habitat is being
heavily opposed by wildlife organizations such as the Conservancy among many others.
Employment & Income: The most recently reported median household income for Collier County
is at $70,600. From January 2010 until March 2020, Collier County had experienced downward
trends in unemployment getting as low as almost 3%. Then in April 2020 we began to feel the
effects of COVID-19, and Unemployment jumped to 13.4% from 4% the month prior.
Unemployment continued to hang around 10% for the next few months. Collier County's
unemployment rate rose from 3.0 percent in October 2019 to 5.0 percent in September 2020 and
to 5.1 percent in October 2020. The overall trend of unemployment has been trending downward.
Collier County's largest employment concentrations continue to be in industries that are fueled by
population growth. The Real Estate and Rental and Leasing Industry leads the pack with 25,200
industry jobs. Retail trade is in second with 25,071. Accommodation and Food Services is just
behind with 24,833. The rest of the top ten, in descending order are as follows: 24,318 / 22,261 /
16,044 / 14,710 / 14,636 / 13,049 / 12,934.
16
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Below is a breakdown of the Largest industries in Collier Cowrty.
Real Estate and Rental and
t eN5i11q
IptHil rrade
Aecommodalion and Food
5crvioaa
Hm)M Caleand 50clal
Assistonce
C-answutt"
Adm inistratim a nd 5uppau a...
Other SenA€es [ewcept PUW Ic
A3niniNtralian�
Government ;
Professlonal. $cienVAc;. and
rechnital 5esrViC{:s #
FI nen€o and Insurar co
Major employers in Collier County include NCH Healthcare System with 7,017 employees, Collier
County School District with 5,604 employees, and Collier County Local Government with 5,119
employees. As the Collier County population matures, employment in the healthcare industry will
continue to make up a larger part of overall employment. Collier's top employers are listed below.
ank Company Name
Employment
NCH Healthcare System**
7,017
Collier County Schaal District
5,604
Collier County Local Government*
5,119
Publix Super Market
3,083
Arthrex, Inc.**
2,500
walmart
1,480
Ritz Carlton -Naples
1,450
City of Naples
1,169
Physicians Regional
950
6 Mooring Park
888
Taxes: Florida is one of the few remaining states without a personal income tax. The absence of
personal income taxes draws many people to Florida. Businesses enjoy additional incentive of
17
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
low corporate income taxes. The Florida's tax rate of 6% is one of the lowest in the U.S. and far
below the 12% levied by some states. The largest share of households in Collier County pay
$3,000+ in property taxes.
The Florida statutes provide for the annual assessment and collection of property taxes on real
and personal property. Property taxes are assessed and collected at the county level as revenue
for counties, municipalities, school districts and special taxing districts. The tax rate is set by the
taxing authority. One mill is equal to $1 per $1,000 of property value. The total just value for all
real estate property types in Collier County for 2018 was $112,272,221,732.
Prices: A price index is a tool that simplifies the measurement of price movements in a numerical
series. Movements are measured with respect to the base period, when the index is set to 100.
Our current cost of living index in Collier County is 113.4 meaning that generally speaking the cost
of living is more expensive in Collier County than the average cost of living throughout the United
States. Furthermore, Groceries are at 107.7, Housing is at 143 which is high, but down from 175 in
December of 2016, and Health is at 101 and below you can see the rest of the table and how it
compares to the United States.
Overall
113.4
102,8
100
Grocery
107.7
102,8
100
Health
101
98
100
Housing
143
102.6
100
Median Home Cost
330600
$237,100
$231,20D
Utilities
88.6
1013
100
Transportation
88.6
112,6
100
Miscellaneous
108.3
9.6 q
100
Banking/Interest Rates/Financing: As of December 21, 2021 the prime rate was reported at
3.25%. Approximately one year ago the prime rate was 3.25%. The federal discount rate is most
recently reported to be 0.25%; a year ago was 0.25%. The federal funds rate is 0.25 %, while a
year ago it was 0.25%. The 15-year refinance fixed-rate mortgage increased to 2.45% down 2
base points over the last week. The benchmark 30-year fixed-rate loans in this week's survey
18
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
included an average of 3.20% down 5 base points over the last week. The five-year adjustable
arm rate was at 2.69%. Please see table below.
Prime rate, federal funds rate, COFI
-o=TED: '==''2C21
THIS WEEK
MONTH AGO
YEAR AGO
WSJ Prime Rate
3.25
3.25
3.25
Federal Discount Rate
0.25
0.25
0.25
Fed Funds Rate (Current target rate acO-0.25)
0.25
0.25
0.25
11th District Cost of Funds
0.23
0.23
0.50
Financing both commercial and residential properties became difficult during the downturn in the
economy. Financing for vacant land is the most difficult. Vacant land is currently being purchased
by investors with cash and expectation of longer holding periods. Generally financing of improved
properties requires loans of 60%-75% of commercial properties and 90%-95% financing available
for residential properties.
Real Estate and Housing: Collier County was spared from the national economic downturn
(2007-2009). Collier County experienced a significant increase in residential and commercial
property values from 2004 through 2006. Several news publications rated Naples as the most
over -valued area of the country with respect to residential housing values. The decline in
residential property values began in 2006. Inventory levels began to rise as investors and owners
positioned themselves to sell at a significant profit. However, buyers were reluctant to purchase
any property with a sense that the economy as a whole was headed for trouble. Many investors
were not able to meet their carrying costs and properties went into foreclosure. Southwest Florida
became the epicenter for residential property foreclosures with communities such as Golden Gate
at the forefront of the crisis in Collier County.
Residential construction projects in various stages of development were stopped as housing
inventories continued to rise and prices began to fall significantly. Southwest Florida thrived on the
residential construction industry; and with no homes to build, this industry was quickly decimated.
Contractors that supplied this industry typically ran their businesses from various industrial
locations in Collier and Lee Counties. This type of property was the first commercial property to be
adversely affected with retail and office properties following.
19
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
There are 24+/- industrial parks and parks of commerce located throughout Collier County. Each
park is proximate to Interstate-75 for connection to major air transportation and water ports. Collier
County's zoning allows the flexibility of properties of 19 acres or more to be zoned as Research
and Technology Parks, which are based on commerce parks and offer advanced infrastructure to
attract technology -based businesses.
Real estate indicators continued to be a bright spot for the region. Single-family building permits for
the coastal counties improved 64 percent from August 2020 to August 2021. Single-family home
sales slipped 5 percent in August 2021 over August 2020, but median prices for all three counties
rose between 21 to 28 percent during the same period. Realtor® Active listings for the coastal
counties were down in August 2021, falling 67 percent from August 2020. Steady increase in
discretionary spending associated with supply -chain disruptions have create some inflationary
pressure across the country and the region.
Single family permits identify houses under construction and therefore reflect jobs in the
construction industry. The data continue to show that, while the COVID-19 pandemic has had
deleterious effects on the economy of Southwest Florida, there appears to be some optimism for
the future based upon the single-family building permit data of the last few months. In Collier
County, 330 permits were issued in October 2021, a decrease of 22 permits (6 percent) from
October 2020, but up 112 permits (51 percent) from September 2021 (see Chart 15)
Lhart 15, sinme-Famav Huildinlr Permits for Collier
450
400
350
250
w
200
k 150
100
50
0
Single ramify Permits Issued -Collier County
2.011.2020 Monthly Averages, Most Recent 13 Months Data and Trend
a A
f Permits
— — — Linear Trend
c a a( cC aK r aK a a aK G
PAM M"M
r+l N fV N 54 r+l C^1 N
Source: Collier Counly &m%th Management Department, indudes uninEMporated Collier County permits only
20
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Collier County single-family home sales registered 475 units in October 2021, a decrease of 192
units (29 percent) compared to October 2020. The median price in Collier County rose
substantially by $90 thousand from $560,000 in October 2020 to $650,000 in October 2021 (see
Chart 18).
Chart 18: Existine Sinele-Family Home Sales for Collier Count
1000
900
Collier County Existing Single Family Home Sales by Realtors@
$700
$B00
S00
700
$500
rd
E sOG
$400 s
o
�
500
$300
�
a
E 3oa
$200
Collier Homes Sold
3
2
nx
2K
Collier Median Sale Price
—Homes Sand Trendline
$100 n
1G2
— — - Sale Price Trendline
G
so
Sou rre_ F lorida Realbors• Naples lmmnkalee-Marro Island, Florida MSA
Transportation: The infrastructure of the county continues to see improvements. Interstate 75
has been widened to six lanes from Fort Myers to Golden Gate Parkway in Naples. The County
recently widened several major corridors such as Immokalee Road, Collier Boulevard, Rattlesnake
Hammock Road and Goodlette-Frank Road. East Naples was not overlooked, with road widening
projects along Collier Boulevard, Santa Barbara Boulevard and Radio Road. Major north south
roads are: US 41, Interstate 75, Airport Pulling Road and Livingston Parkway. The Collier County
Government has worked diligently to develop an efficient road system that will accommodate
future growth; and it is likely to continue to develop the necessary road infrastructure in the years
to come.
Southwest Florida International Airport (RSW) in Fort Myers, Florida satisfies the passenger traffic
needs for the fast-growing population of Southwest Florida. RSW is the eighth fastest growing
airport in the nation, servicing more than 8 million passengers a year. More than two dozen
commercial airlines currently serve Southwest Florida Regional Airport with non-stop service to
more than 27 domestic and two international destinations. The Southwest Florida International
Airport also maintains customs clearing facilities for international cargo. RSW is located off
21
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Interstate-75 in South Lee County, an approximate 30-minute drive from most areas of Naples. In
2005 the airport was completely updated and expanded to meet the growing demand of area
businesses and visitors. The $386 million ultra -modern complex includes a two-story terminal with
28 aircraft gates along three concourses, a new taxiway, and new parking options that includes a
three-story parking structure. The facility will allow for incremental expansion up to 65 gates.
Construction was recently completed on a direct access connection between 1-75 and the airport.
Peak seasonal activity usually occurs in February, March, and April, with significantly lower activity
in the summer months. While all three airports continue to improve from the dip in passenger
activity experienced in April 2020, a complete recovery to pre -pandemic levels is not anticipated in
the short-term. After the large decrease in activity observed in March and April 2020, the charts
better reflect the historic seasonal pattern, albeit at a reduced level. Passenger traffic at RSW was
769,524 in October 2021, up 40 percent from September 2021 and 84 percent greater than
October 2020 (see Chart 1).
Chart 1: SW Florida International Passenger Activity
SW Florida International Airport IRSM Passenger Activity
t, fi0ik
H t,d0a 2019
t,20a '20
J< P
~ t,PO4 201a
aoa
ya
p 600 7071
400
E 206
a 1
0
Jan Fec Mar Apr May Jun Sul Aug Sep Oct Hav Oec
Source- Loral Airport Authorities
The Naples Municipal Airport is a fully certificated air carrier airport. The airport also provides FBO
services for general aviation including fueling and catering. It is the home to charter airlines,
aircraft maintenance facilities, a restaurant, fire/rescue services, mosquito control, car rental
agencies, the Collier County Sheriff's Aviation Unit, flight schools, the Humane Society, and over
40 additional aviation and non -aviation businesses. The airport encompasses approximately 732
acres of land, approximately two miles northeast of Old Naples with convenient access to major
roads and Interstate-75.
22
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
POLITICAL -GOVERNMENTAL FACTORS
The county government is headed by a Board of Commissioners. There are five commissioners,
each assigned to a specific geographical area within the county. A County Manager coordinates
most of the departments including county services, public services, community
development/environmental services, utilities and transportation. The county is currently
experiencing a decline in revenues which will result in future capital improvement plans being
significantly cut back. Additionally, operating expenses are under increasing pressures due to
legislative mandates from the state, escalating costs of property insurance and health benefits,
and the overall economic downturn.
Collier County has experienced an increase of 1.09% in budget between FY 2019 and FY 2020.
The FY 2020 total net county budget is now $26,249,500.
(:merit Fund Supported [:dp"I
Ca
F� 16 Budget
F'i 17 Budget
F l' 19 Budget
F1' 19 Budget
FF' 21) BtrdVt
SheriffOrange Tree 5ubS[atlan
3'n o.IfOU
5o
SD
SD
SO
EMS Station and Ambulance
$o
$0
$2,0001M
VJOD.ODD
$11
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S I,?Jm
SD
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566427(0
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54,Im
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Sheriff'& ALi�ouftlwL S4slern RE lacemew
51,w),ow
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$U
So
$3450D
$35D100U
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System
56_1001M
53525.{ k
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SD
5n
DOn5eIAIC AMIYUJ Control Shehee
SU
Ski
$50DAUU
so
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Stale & Re,nunal Ecu Development
$4754U0
SSW_ UJ
$D
So
Sa
Library Capital -Books
$350,o0U
545ta_00tl
$550,ow
WD_000
s9MAW
Gimerul Bu[ldin�; Maintenance and rVC
Repairs Aul Sale, Tax Funded
$ I,5DD.OW
S4,Ii9U,500
55250OW
56MD.ow
$5.13W 000
OlhcrGelxraIGDvo unrntal
$4NXJo0
$I,o72,506
$1llow
51,07TODU
V=AW
Sluseuln Ca lisl
$2100.0m
$7-m-ow
$3 13-50U
$200.0m
S2W'(D4
AurponC'u i[ul(Grant Match1
$313.100
5300.00D
51,00D
5-145A U
SI_46i.704
General Governmental Vehicle
Replacement Su lament
$1�500,flU0
5150 ow
51,750 M
5D
$0
J13A Capital
$1,070_(M
$7,595,70D
S I, I0010M
$1,100,000
$? l00_llfli)
trans ortatlanCap [al
$I4,559_liofl
$11,650,400
W_;5iAw
S9*50'Kw
S[umI-water Ca ual
51.549.6(W
$1,627.D0U
S2__0WXPI
S3.5a1.U0U
-otfil
$32,770.IH10
S29.1i;1,700
532,69&9W
524,177JM
S26,249 RO
1$2,127,0010 = $Irn SAF; $900k r plr sh makes: balaxuc v. nvntrr rikainlLmunCe $327k roa Sar[14air LNos1,_
Education: The Collier County public school system currently contains a total of 58 schools with
48,000 students and 3,200 teachers. Collier County averages 2,700 graduates per year. The
below chart shows more detail with regards to the public -school system.
23
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
2,300
1150
m
S4 1! millire,
1fi j— 4-
*'Ade �auis
Qt%li xa� a.•4,Irr4
F F 125i E7o-ik.__ i�bOhef
Bow EcwnrncahF 9.anf+
55%Info MmI�R"tN Flc+ra
I 1 1 364 9uiv;
11.4" ym "Jura
no+f..9s� L+b� hlr.ri Y.n;F
1 1 7,206,59$$ Meal9 Y=_d+ly
Gir�00 f44.PIW I RE4C1 S �T}r
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4fi r.c;; c�a.:,a-Y•dan•:onoc; i94 C,ornn�arrlr[#rcaian C•:vt :,
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Collier County is home to several colleges and universities. As mentioned, Ave Maria University is
a newly established Catholic University offering liberal arts -oriented baccalaureate degrees as well
as some graduate degree programs. The county is also home to branch campuses of Florida
Southwestern State College and Florida Gulf Coast University.
Collier County has igh level of education attainment compared to other counties in Florida and
compared. Collier County has 32% of their people attain a bachelor's degree of higher compared
to 27% in Florida and 29% in the United States. Only 14% of those within Collier County have less
than a high school education.
Figure 7: Collier County, FL Education Attainment by L—el Comparison (Age 25+)
No schooling = Less than High School � High School or GED So Ilege or Associates Deg r=_a
Be ohel, Degree or higher
100%
75% ■ . of
NONE
50%
25%
t+a�� GO"
�BG� ��'6"oStiai �(0 � � La�1ik of � .•• � cpjlci� 'Po
w6
G G�QacO- CPS ��� c0 rp,1a� cow
6,e �
SOCIOLOGICAL FACTORS
Recreation: Collier County offers a vast variety of natural and historical attractions. Places to visit
include the 52-acre Naples Zoo, Collier County Museum, Big Cypress National Preserve, Museum
of the Everglades, Naples Botanical Gardens and many other reserves, museums, zoos, etc.
24
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Healthcare: Within Collier County there is the Naples Community Hospital, North Collier Hospital,
Regional Heart Institute, NCH Wellness Centers and other various clinics. Being the largest county
in Florida with a total area of 2,305 square miles its medical facilities manage to cover it all.
Helicopter usage cuts critical minutes from transport time. 83.5% of those within Collier County
have health insurance compared to 86.5% throughout Florida and 90.6% throughout the United
States. The highest percentage of those without healthcare coverage from people making $25,000
and less at 25.6% not covered by insurance.
Figure 1: Percent of People with Health Insurance
Hendry County
Glades County
Monroe County
Collier County
Brow,ard County
Lee County
Compare: Florida
Compare: Orlando -De ltona-
Daytona Beach
Charlotte County
Compare: United States
090 50 % 100%
Figure 8: Percent of People with No Insurance by Income Group
3c%
2C9<:
10%
0%
Under $25k $50k $75k Over
525k to to to $100k
Wk $75k $100k
SUMMARY
Collier County is located along the west coast of Florida along the Gulf of Mexico. The climate is
sub -tropical with mild winters that allow for year-round enjoyment of the many attractions this area
offers. Collier County is a desirable destination for residents and non-residents alike. In spite of
the many positives, portions of Collier County were greatly affected by the past housing debacle
which resulted in a significant number of residential foreclosures, trends have been positive in
most recent years though. While the current "improving" economic climate will keep commercial
and residential development at bay in the short term, the availability of commercial vacant land, the
county's numerous natural attractions, and the anticipated future population growth will bode well
for this area over the long term.
Collier County is considered to be a wonderful place to live. There are tremendous opportunities
as far as employment is concerned in many different industries. The diversity of job opportunities
spans a significant range from low-income persons to jobs of very high -income people as well.
There are tremendous recreational facilities with numerous golf course, beaches and recreational
parks, not to mention the significant amount of land that is federally held in conservation in the
25
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
eastern portions of the county. The public -school system is good and provides for a well-rounded
public education for the students that reside within the county.
We invite your attention to the location map, which shows the relative location of the subject
property in Naples.
26
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Location Map
Cnglewood
Port Charlotte �J
�1e Punta Gorda
Babcock
Ranch
Preserve
Boca.Granda LaBelh
;� -01
Fort Myers Lehigh Acres
Cape Coral sD
Captiva UZ Felda
Fort Myers
aEstero
Ind an Ic m
Lakeport Pc•r' Mayaca
Palmdale _ '. Ju `Ilan
21
4a Wrldllfe
.Canal Point Managarfienl �-'� Palm Gear
Moore Haven Pahokee Area Gardens
ra
0 Clewiston West
zS Belle Glade Bea
Montura
Imnnokaiee
Bonita Springs
Ave Maria
l4
North Naples
Naples
SUBJECT
? i
Big Cypress
Naliorlal
❑Preserve
a
Marco Is!and
Everglades S.
city
27
Boynton
{`a Beach
Delray Beach
i
Boca Raton
D
C) Pompano
Beach
Everglades
Fort
and Frarrcis
Fes+ Lauderdale'
S. Taylor
Wildlife...
Hollywood
I Q
Hialeah
`L' Miami
ED
a
c
T
a
m
Biscayne
Homestead
National Park
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Market Area Map
CORKSCREW
2�
Harker
Ave Maria
eyards r
GGIden ale
Lo1v
Lely Re, rt
r
� Copeland
Marc❑ Island
GcDdland
Market Area Description: Market area is defined as "The geographic or locational delineation of
the market for a specific category of real estate, i.e., the area in which alternative, similar
properties effectively compete with the subject property in the minds of probable, potential
purchasers and users."
28
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Market Area:
Boundaries: Northern Immokalee Road
Southern US 41
Eastern SR 29
Western Interstate Highway 75
Life Stage: "Because market areas are perceived, organized, constructed, and used
by people, each has a dynamic quality. Appraisers describe this quality
as a market area's life cycle. The complimentary land uses that make up
neighborhoods and homogeneous land uses within districts typically
evolve through four stages:
• 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" 2
It is our opinion that the subject market area is currently in the growth
cycle. Recently the market has shown increased activity. Sales and
permit activity for commercial and residential construction have been
increasing.
Public Transportation:
Public transportation is provided by Collier Transit
Maintenance/Condition:
The majority of improvements are well maintained and in good condition.
Property Compatibility:
There is an established retail, commercial, retail and office area along
Airport Pulling Road, Immokalee Road, Pine Ridge Road, Vanderbilt
Beach Road, and Tamiami Trail (US-41). Due to the high traffic counts in
this area, retail uses include shopping centers, restaurants, and various
other single -tenant retailers. Supporting residential abounds along
secondary roadways and land uses are primarily single-family residential
or multifamily. Generally speaking, agricultural and rural residential use is
located east of Interstate Highway 75.
Appeal/Appearance:
This area has strong appeal. Appearance ranges from mostly newer
construction and some older structures with generally good to average
appearance.
Neighborhood Access:
Good access exists from major north -south corridors including Collier
Boulevard, Goodlette Frank Road, Livingstone Road, Airport Pulling
Road, US-41 (Tamiami Trail), and 1-75.
The major east -west corridors include Golden Gate Boulevard,
Vanderbilt Beach Road, Pine Ridge Road, and Immokalee Road.
Police/Fire:
Police: Collier County Sheriff / Fire -rescue: Collier County
2 The Appraisal of Real Estate, Fourteenth Edition, , The Appraisal Institute, Chicago, Illinois (U.S., 2014)
29
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Development Potential: There is residential, agricultural, and commercial zoned vacant land
available in the market area. Most exists is to the east portion of the
market area. Future commercial development will be seen mainly along
US-41, Airport -Pulling Road, Vanderbilt Beach Road, Immokalee Road
and Collier Boulevard. Agricultural properties being subdivided into
smaller rural residential parcels.
Development Trend: Residential and commercial properties have had decreasing vacancies
and increasing lease rates. Brokers estimate continued improvement in
this area that could lead to new development in the near future.
Characteristics of Land Immediate properties in the subject market are mostly agricultural and
Usage: residential uses.
Supply of Vacant Tracts: Vacant land is available in the market.
Demand for Vacant Tracts: The supply appears to be in balance with demand at this time.
Neighboring Property Uses: Residential, both single and multi -family, general business, office, retail
and agricultural uses.
Allowable Uses in the Residential both single and multi -family, general business, office, retail,
District: agricultural and governmental uses.
Vacancy rates: Commercial/Agricultural: 2% - 5%
Single Family: 3% - 8%
Naples Economy Q3-2021 (Costar Summary)
While the pandemic caused significant economic disruption in Naples, the market saw
employment rebound sharply beginning in late 2020. While the pace of rehiring has slowed in
2021, the total workforce has improved to nearly 96% of pre -pandemic levels. Prior to the
coronavirus outbreak, Naples had strong economic momentum and appears poised to quickly
recapture that prior momentum once the virus is contained.
Tourism drives much of the Naples metropolitan area's economy, with leisure and hospitality
composing almost 20% of the workforce. This sector, along with retail trade, has been more
exposed to impacts from the ongoing crisis. Naples has nearly 35% of its entire workforce in these
high -risk sectors, the third -highest proportion in Florida. Prior to the pandemic, the market enjoyed
accelerating tourism. In 2019, the Naples metropolitan region's visitor count was up nearly 6%
annually, while 2018 saw tourism grow by nearly 3% over the prior year. While 2020 saw tourism
ultimately downshift, 2021 should enjoy numbers more in line with the prior trend.
The Naples metropolitan area includes the entirety of Collier County with significant population
nodes in Naples, Immokalee, and Marco Island. The market has experienced among the nation's
30
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
strongest population and job growth rates over the past five years. While the overall rate of jobs
added over the year prior to the pandemic had slowed to under 3%, Naples still posted growth
rates of roughly double the national average.
The employment slowdown was divided across most sectors, though the overall losses were also
weighed down by somewhat deeper job losses than the national average in information, finance
and insurance, and management. Naples has also seen significant cooling growth rates, though
still net positive job additions, in both sectors of transportation and warehousing, and construction.
These two industries were among the two strongest employment sectors for the market over the
prior year.
Office -using employment had also slowed to under 2% annual growth, though remained one of
Naples' better -performing areas. In particular, real estate hiring posted an exceptionally strong
prior year, growing over 10%. The real estate sector, by itself, was strong enough to offset the
losses in information, finance, and management.
The unemployment rate had slightly risen in the months leading up to the coronavirus pandemic.
However, unemployment was still tight from a national perspective and had remained well below
the national average, which before the crisis sat at a 50-year-low. The slightly loosening market
was likely more a reflection of the limited available jobs to meet labor force growth.
Naples is one of the older markets in the nation, reflecting its status as a premier retiree
destination. This skews demand for senior housing, assisted living, and medical office space much
higher than a typical U.S. market. The older demographic also drives up the region's affluence and
median incomes, both of which are among the highest in Florida.
Interview with market participants: The appraiser was able to speak via phone conversations
with real estate brokers who are knowledgeable of the market area. These individuals were
contacted to verify sales prices and asking prices of surrounding properties similar to the subject.
Specific names and phone numbers of the individuals contacted were found by using the services
of LoopNet and CoStar and MLS. For the benefit of the reader, we have listed the names, contact
information on the sales exhibits found later in this report.
Legal Description: The legal description of the subject was obtained from the most recent deed
on file with Collier County Property Appraiser's Office (OR 3815-671) and displayed as follows:
East 150' of Tract 121, Unit-tiA-'Golden Gate Estates according to plat thereof
recorded in Plat Book 9 Page 9igf,,dq Public Records of Collier County, Florida.
31
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Owner of Record: According to information obtained from the Collier County Property
Appraiser's office and the Collier County Tax Collector's office, the current owner of record for the
subject property is listed as follows:
Arias, Eladio R. and Ailvia M. Arias
2356 SW 125th Ave
Miramar, Florida 33027-2636
Assessed Value and Taxes: According to the Collier County Tax Collector's Office the subject
property is identified by its Parcel Number 41560040006. For the tax year of 2021 the subject
property had combined assessed values of $15,920 at a millage rate of 11.4183 resulting in an
annual tax burden of $199.74. Please note the 2019-2021 tax analysis in tabular form that follows.
The tax summary chart represents resents a summary of the assessed values, taxable values, ad
valorem taxes, non -ad valorem taxes and millage rates.
Assessed Value and Tax Summary
41560040006
Year Market
Taxable Value
Millage Rate
Tax Liability
Total
Assessed Value
Ad Valorem
Non -Ad Valorem Tax Liability
2021 $15,920
$15,920
11.4183
$199.74
$0.00
$199.74
2020 $14,473
$14,473
11.3084
$189.35
$0.00
$189.35
2019 $13,157
$13,157
11.3901
$182.58
$0.00
$182.58
Delinquent Taxes: According to information obtained from the Collier County Tax Collector's
office there are no delinquent or outstanding taxes on the subject property.
Site Description: We invite your attention to the following aerial plat map which shows the relative
size, configuration and location of the subject property. This will be followed by a plat map which
also shows the same information. This will be followed by general site information and data as
well as information on the physical characteristics and economic factors that affect this property.
32
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Subject Aerial Map
Plat Map
_ 330
105
75
t50
150
8n
[-
sT�p
U'
"d
144
12
�
i N
330,63
100
150
150
...
i
— -- — — — ——i6Yt26
33
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
General Site Information
Address: Unassigned, North of 1-75, Naples, Florida 34117
Parcel Number: 41560040006
Physical Characteristics of the Site
Frontage: The subject property has no frontage along any roadways.
Total Site Area: 3.16 acres or 137,650 square feet per the Collier County Property
Appraiser records. We were not provided with a site survey.
Shape of Tract: Rectangular
Access: The subject site has no access from any roadway or trail that was
visible during inspection.
Corner Influence: This property not located on a corner.
Utilities to Site: No utilities were observed at the time of inspection.
Flood Designation: Flood Zone Code AH, Flood Zone Panel 120067-12021 C0445H,
Dated May 16, 2012. See Flood Map in addenda.
Easements: Typical utility easements are assumed to exist
Site Improvements: The site has no improvements.
Topography: The subject parcel is fully wooded with brush ground covering.
According to the National Wetlands Inventory Map the site is 100%
Forested/Shrub Wetlands. Additionally, an FDEP informal wetland
determination map that was provided by the client indicates the
property is 80% hydric depressional and slough soils with 20%
being uplands. The USDA Web Soil Survey Map shows 64.8%
Brynwood Cypress Lake fine sand, 6% Brynwood fine sand -urban
land complex fine sands and 29.3% Cypress Lake Riviera
Copeland fine sands present for the subject. Due to the wetlands
indicated on the subject property, an Environmental Resource
Permit from the Florida Department of Environmental Protection
would be required for any activities involving the altercation of
surface water flows, however, an official determination has not
been made.
Economic Factors Affecting the Site
Supply of Vacant Tracts: There is an adequate number of vacant residential/agricultural
zoned and residential/agricultural permissible sites located within
the immediate and general vicinity of the subject property.
Demand for Vacant Tracts: Supply and demand appear to be in -line with each other, although
demand has been improving recently.
34
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Neighboring Property Uses: Properties located in the immediate area consist of limited semi -
rural residential uses. Zoning allows for a maximum of one
development unit per 2.25 gross acres.
Land Use Designation: Estates
Zoning Classification: E-Estates
Allowable Uses in the Allowable uses in the district will be discussed in detail in the
District: following comprehensive land use plan classification discussion
and zoning discussion. In addition, they will be considered in the
highest and best use analysis for the property.
National Wetlands Inventory: The subject is located in a Freshwater Forested/Shrub Wetland
habitat classified as PFO1 Cd. Map is displayed below.
System Palustrine (P): The Palustrine System includes all nontidal wetlands dominated
by trees, shrubs, persistent emergents, emergent mosses or lichens, and all such
wetlands that occur in tidal areas where salinity due to ocean -derived salts is below 0.5
ppt. It also includes wetlands lacking such vegetation, but with all of the following four
characteristics: (1) area less than 8 ha (20 acres); (2) active wave -formed or bedrock
shoreline features lacking; (3) water depth in the deepest part of basin less than 2.5 m (8.2
ft) at low water; and (4) salinity due to ocean -derived salts less than 0.5 ppt.
Class Forested (FO): Characterized by woody vegetation that is 6 m tall or taller.
Split Subclass Broad -Leaved Deciduous (1) : Woody angiosperms (trees or shrubs)
with relatively wide, flat leaves that are shed during the cold or dry season; e.g., black
ash (Fraxinus nigra).
35
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Water Regime Seasonally Flooded (C) : Surface water is present for extended
periods especially early in the growing season, but is absent by the end of the growing
season in most years. The water table after flooding ceases is variable, extending
from saturated to the surface to a water table well below the ground surface.
Special Modifier Partially Drained/Ditched (d) : A partly drained wetland has been
altered hydrologically, but soil moisture is still sufficient to support hydrophytes.
Drained areas that can no longer support hydrophytes are not considered wetland.
This Modifier is also used to identify wetlands containing, or connected to, ditches.
The Partly Drained/Ditched Modifier can be applied even if the ditches are too small to
delineate. The Excavated Modifier should be used to identify ditches that are large
enough to delineate as separate features; however, the Partly Drained/Ditched
Modifier also should be applied to the wetland area affected by the ditching.
Comprehensive Land Use Plan Classification: According to information obtained from the
Collier County Planning Development department, the subject site has a comprehensive land
use plan classification known as Estates.
ESTATES DESIGNATION
The Estates Land Use Designation is characterized by low density semi -rural residential lots with
limited opportunities for other land uses. Typical lots are 2.25 acres in size. However, there are
some legal non -conforming lots as small as 1.14 acres. Residential density is limited to a
maximum of one unit per 2.25 gross acres, or one unit per legal non -conforming lot of record,
exclusive of guesthouses. Multiple family dwelling units, duplexes, and other structures containing
two or more principal dwellings, are prohibited in all Districts and Subdistricts in this Designation.
Generally, the Estates Designation also accommodates future non-residential uses, including:
• Conditional uses and essential services as defined in the Land Development Code, except as
prohibited in the Neighborhood Center Subdistrict. Also, refer to the Conditional Uses Subdistrict.
• Parks, open space and recreational uses.
• Group Housing shall be permitted subject to the definitions and regulations as outlined in the
Collier County Land Development Code (Ordinance No. 04-41, adopted June 22, 2004, effective
October 18, 2004) and consistent with locational requirements in Florida Statutes (Chapter
419.001 F.S.).
36
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
• Schools and school facilities in the Estates Designation north of 1-75, and where feasible and
mutually acceptable, co -locate schools with other public facilities, such as parks, libraries and
community centers to the extent possible.
Group Housing includes the following type facilities:
• Family Care Facility if occupied by not more than six (6) persons shall be permitted in
residential areas.
• Group Care Facility,
• Care Units,
• Adult Congregate Living Facilities, and
• Nursing Homes.
All of the above uses shall be consistent with all of the Goals, Objectives and Policies of the
Golden Gate Area Master Plan.
Zoning Classification: Estates District (E).
The purpose and intent of the Estates Zoning District (E)* is to provide lands for low density
residential development in a semi -rural to rural environment, with limited agricultural activities.
In addition to low density residential density with limited agricultural activities, the E district is
also designed to accommodate as Conditional Uses, Development that provides services for
and is compatible with the low density residential, semi -rural and rural character of the E
district. The E district corresponds to and implements the estate land use designation on the
future land use map of the Collier County GMP, although, in limited instances, it may occur
outside of the estates land use designation. The maximum density permissible in the E
district shall be consistent with and not exceed the density permissible or permitted under the
estates district of the future land use element of the Collier County GMP or as provided under
the Golden Gate Master Plan. Permitted uses include:
1.Single-family dwelling.
2.Family care facilities, subject to section 5.05.04.
3.Essential services, as set forth in section 2.01.03.
4.Educational plants, as an essential service.
37
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Subject Property Photographs
View: Looking
west along 40" Ave
SE viewpoint.
Photograph date:
August 1, 2022
Taken by: Hannah
Dwyer
View: Looking east
along 40' Ave SE
viewpoint.
Photograph date:
August 1, 2022
Taken by: Hannah
Dwyer
38
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Subject Property Photographs
View: Looking
southeast from
viewpoint on 40tn
Ave SE. Subject
about 710'
southeast.
Photograph date:
August 1, 2022
Taken by: Hannah
Dwyer
39
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Sec16
tion 4 -Highest and Best Use Analysis
The principal of highest and best use is defined 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."
The four criteria the highest and best use must meet are legal permissibility, physical possibility,
financial feasibility, and maximum profitability.
• Permissible Use (Legal) - what uses are permitted by zoning and deed restrictions on the
site in question?
• Possible Use- to what uses is it physically possible to put the site in question?
• Feasible Use-, which possible and permissible uses will produce any net return to the
owner of the site?
• Highest and best Use- among the feasible uses, which use will produce the highest net
return or the highest present worth?
HIGHEST AND BEST USE AS VACANT
Legally Permissible Use: Factors that impact the legally permissible uses for the subject property
include such things as the comprehensive land use plan classification, zoning classification, deed
restrictions and government regulations. No specific deed restrictions are known relating to the
property. The subject has a comprehensive land use plan classification of Estates and is zoned (E)
Estates. Some of the uses permitted include; Low -density residential with limited agriculture,
including, but not limited to: single-family dwelling; fruit and vegetable growth for personal
consumption ; keeping fowl or poultry (max 25); educational plants as an essential service;
keeping horses and livestock (2/acre); recreational facilities that are an integral part of residential
development. Residential use is not to exceed 1-DU per/2.25-acres. Due to the wetlands indicated
on the subject property, an Environmental Resource Permit from the Florida Department of
Environmental Protection would be required for any activities involving the altercation of surface
water flows, however, an official determination has not been made.
Physically Possible Uses: The physical aspects of the subject impact legally permissible
development. The site has a rectangular configuration containing a total of 165,092 square feet
or 3.79 acres of site area. The property has no frontage of along any roadways with no visible
access. There are wetlands present on site and the property is fully wooded with brush covering.
40
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
This impacts developability and value for properties of this nature. Currently, no utilities were
present on site. The size of the parcel is sufficient to support low density residential use
although it would require an easement and development of a roadway for accessibility. The
parcel would better support a low density agricultural use.
Economically and Financially Feasible Uses: Typically, the highest and best use analysis is a
process to eliminate potential uses. In other words, once the uses that are legally permissible
have been determined, consideration of uses which are physically possible will tend to reduce
the legally permissible uses or reinforce them. Likewise, consideration of the economical and
financial aspects of a given property will tend to further refine the uses which have been
previously described as legally permissible and physically possible.
The physical characteristics of this property include vacant low density residential and agriculture
in the immediate area. There is an abundance of Estate zoned vacant land surrounding the
property. The most economic and financially feasible uses of the property would be for
development of the site as limited agriculture under the permitted uses.
Maximally Productive Uses: At this point in the highest and best use analysis, the analyst has
considered which uses are reasonably considered to be legal, physically possible as well as
economically and financially supported. The zoning and land use allow for a range of uses
including agricultural such as fruit and vegetable growth for personal consumption and low density
horse and livestock as well as low density residential.
Considering the near -by low density properties, it is our opinion that low density agricultural use
has the most development potential given the location and access of the property.
41
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Section 5 - Valuation of the Subject
VALUE ESTIMATE BY THE COST APPROACH
Cost Approach is defined as: "A set of procedures through which a value indication is derived for
the fee simple estate by estimating the current cost to construct a reproduction of (or replacement
for) the existing structure, including an entrepreneurial incentive or profit; deducting depreciation
from the total cost; and adding the estimated land value. Adjustments may then be made to the
indicated value of the fee simple estate in the subject property to reflect the value of the property
interest being appraised."
Since there are no improvements to consider, the cost approach will not be used in this appraisal.
VALUE ESTIMATE BY THE INCOME APPROACH
The Income Approach is defined as "A set of procedures through which an appraiser derives a
value indication for an income -producing property by converting its anticipated benefits (cash flows
and reversion) into property value. This conversion can be accomplished in two ways. One year's
income expectancy can be capitalized at a market -derived capitalization rate or at a capitalization
rate that reflects a specified income pattern, return on investment, and change in the value of the
investment. Alternatively, the annual cash flows for the holding period and the reversion can be
discounted at a specified yield rate."
The Income Approach is widely applied in appraising income -producing properties. Anticipated
future income and/or reversions are discounted to a present worth figure through the capitalization
process. Since vacant agricultural zoned land is typically not purchased for its ability to generate a
positive cash stream, the income approach is not used in this appraisal.
VALUE ESTIMATE BY THE SALES COMPARISON APPROACH
Sales Comparison Approach is defined as: 'A set of procedures in which a value indication is
derived by comparing the property being appraised to similar properties that have been sold
recently, then applying appropriate units of comparison and making adjustments to the sale prices
of the comparables based on the elements of comparison. The sales comparison approach may
be used to value improved properties, vacant land, or land being considered as though vacant; it is
42
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
the most common and preferred method of land valuation when an adequate supply of
comparable sales are available."
The Sales Comparison Approach involves the direct comparison of sales of similar properties,
adjustments for variances, and correlation of the results into a property value indication.
Adjustments to the sale prices of competitive properties selected for comparison are considered as
they relate to the subject property and to the various dissimilar investment features.
The application of this approach produces an estimate of value for a property by comparing it with
similar properties which have been sold or are currently offered for sale in the same or competing
areas.
The valuation of the subject site involves research, analysis, and comparison of sales of similar
properties to the subject. There are several units of comparison applicable for appraisal purposes.
Due to the nature of the subject property and comparable sales, it is our opinion the sales price per
square foot would be the most appropriate for utilization. This unit is calculated by dividing the
sale price of the comparable sales by the number of the square feet contained within the sale.
The subject site is being valued based on highest and best use; and as such, data selection
begins by limiting the sales considered to include only those sites with a highest and best use
similar to that of the subject. From these sales, only the most similar to the subject in terms of
physical and locational characteristics were selected. The appraiser's research uncovered
multiple sales of sites considered appropriate for comparison purposes. These transactions were
included in the analysis process.
In the analysis process, the analyst will utilize a quantitative procedure. In the initial step the
appraiser will utilize a cumulative adjustment for each of the sale properties considering property
rights, financing, conditions of sale, expenditures immediately after the sale and market conditions
(commonly known as time). As the adjustments are cumulative in nature, they must be performed
in the order in which they occur.
Next the analyst will utilize a quantitative procedure by considering physical characteristics
including location, site size, land use/zoning classification, utilities, access and site
condition/topography. After completion of the analysis and adjustment process, the appraiser will
estimate an appropriate value per square foot and multiply this by the number of square feet
43
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
contained within the property in order to estimate the market value for the site. This value estimate
will then be rounded to an appropriate figure for appraisal purposes
We now invite your attention to a land sales location map which follows. This map shows the
relative location of each of the comparables to that of the subject property. Following this will be a
land sales exhibit which will contain land sales data sheets for each transaction utilized in the
analysis process showing the relative size, configuration and location of the site as well as the
relative information for each individual sales transaction. Following the land sales exhibit will be a
summary chart showing the relevant information for the subject and each of the comparable sales
as well as the adjustments and factors which were considered in providing an overall rating for
each of the comparable properties.
The comparable sales map is displayed below.
COMPARABLE SALES MAP
44
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
COMPARABLE 1
Property Reference:
Property Type:
Residential Acreage Vacant Land
Address:
3425 22nd Ave SE
Naples, FL 34117
County:
Collier
Location:
North side of 22nd Ave SE
STRAP/ID:
41221200004
Grantor:
PBR Builders Inc.
Grantee:
Danh Thanh Nguyen
Le_pal Data:
Sale Date:
July 29, 2022
Sale Price:
$55,000
Sale Price per Sq. Ft.:
$0.46
Sale Price per Acre:
$20,147
Recording:
Instr.#6291608
Interest Conveyed:
Fee Simple
Deed Conveyed:
Warranty Deed
Land Use:
Estates Designation
Zoning:
E
Highest and Best Use:
Low density residential/agriculture
CNA Data # 2530
45
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Site Data:
Site Dimensions:
180' x 663'
Site Size:
118,919 square feet, 2.730 acres
Shape:
Rectangular
Topography:
Appears level and fully wooded
Corner/Visibility Influence:
No
Utilities:
Cable, Electric, Phone
Access:
From 22nd Ave SE
Wetlands/Uplands:
100% Wetlands
Soils:
None Adverse Apparent
Sale Analvsis:
Sale Price:
$55,000
Financing:
Cash to Seller
Price per SF:
$0.46
Price per Acre:
$20,147
Sale Confirmation:
Verification:
David De La Noval-Listing Agent, 239-682-6090
Verifying Appraiser:
Hannah Dwyer, August 10, 2022
Sale History:
9/23/20-$26,500
Comments:
This is the sale of a 2.73 acre vacant land parcel located off 22nd Ave Se in Naples. The
parcel was sold together with the adjacent 2.27 acre parcel for a total of $110,000. The 2.73
acre parcel accounted for $55,000 of the sale price. The site is determined to be 100%
wetlands according to an FDEP wetlands determination map and will require an ERP permit
to develop on the property. This was an arm's length transaction.
CNA Data #
2530
46
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
COMPARABLE 2
Property Reference:
Property Type:
Residential Acreage Vacant Land
Address:
26th Ave SE
Naples, FL 34117
County:
Collier
Location:
South side of 26th Ave SE
STRAP/ID:
41440600003
Grantor:
Paule Virzintaite
Grantee:
Gennaro Candela Jr.
Legal Data:
Sale Date:
July 27, 2022
Sale Price:
$95,000
Sale Price per Sq. Ft.:
$0.44
Sale Price per Acre:
$19,000
Recording:
Instr.#6293131
Interest Conveyed:
Fee Simple
Deed Conveyed:
Warranty Deed
Land Use:
Estates Designation
Zoning:
E
Highest and Best Use:
Low density residential/agriculture
CNA Data # 2529
47
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Site Data:
Site Dimensions:
329' x 662'
Site Size:
217,800 square feet, 5.000 acres
Shape:
Rectangular
Topography:
Appears level and fully wooded
Corner/Visibility Influence:
No
Utilities:
None
Access:
From 26th Ave SE
Wetlands/Uplands:
100% Wetlands
Soils:
None Adverse Apparent
Sale Analvsis:
Sale Price:
$95,000
Financing:
Cash to Seller
Price per SF:
$0.44
Price per Acre:
$19,000
Sale Confirmation:
Verification:
Yasmine S Awad- Listing Agent, 239-269-0501
Verifying Appraiser:
Hannah Dwyer, August 08, 2022
Sale History:
12/18/20-$59,000
Comments:
This is a vacant, fully wooded 5 acre land parcel located off 26th Ave SE in Naples. The
parcel is 100% wetlands according to an FDEP wetlands determination map. The parcel
would require an ERP permit in order to develop. There are no utilities available to the site at
the time of sale. The listing agent stated that this was an arm's length transaction at market
price. The property was on the market for about a month for $110,000 before going under
contract and selling for $95,000.
CNA Data #
2529
48
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
COMPARABLE 3
Property Reference:
Property Type:
Residential Acreage Vacant Land
Address:
3624 28th Ave SE
Naples, FL 34117
County:
Collier
Location:
South side of 28th Ave SE
STRAP/ID:
41393720001
Grantor:
ELAH Holdings Inc.
Grantee:
Joseph and Carol Perchal
Legal Data:
Sale Date:
June 06, 2022
Sale Price:
$71,728
Sale Price per Sq. Ft.:
$0.60
Sale Price per Acre:
$26,274
Recording:
Instr.#
Interest Conveyed:
Fee Simple
Deed Conveyed:
Warranty Deed
Land Use:
Estates Designation
Zoning:
E
Highest and Best Use:
Low density residential/agricultural
CNA Data # 2531
49
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Site Data:
Site Dimensions: 180' x 660'
Site Size: 118,919 square feet, 2.730 acres
Shape: Rectangular
Topography: Appears level and fully wooded
Corner/Visibility Influence: No
Utilities: None
Access: From 28th Ave SE
Wetlands/Uplands: 100% Wetlands (95% Slough)
Soils: None Adverse Apparent
Sale Analvsis:
Sale Price:
$71,728
Financing:
Cash to Seller
Price per SF:
$0.60
Price per Acre:
$26,274
Sale Confirmation:
Verification:
Erik Mogelvang-Listing Agent, 239-272-7774
Verifying Appraiser:
Hannah Dwyer, August 10, 2022
Sale History:
12/30/20-$79,200
Comments:
This is a 2.73 acre parcel located off 28th Ave SE. The parcel is fully wooded and
unimproved with no utilities to site. An FDEP Wetlands map indicates the parcel is 95%
Slough soils while the listing agent confirmed that the site is 100% wetlands. The site will
require an ERP permit to develop. The property previously sold together with another parcel
on 12/30/21 for $79,200. This was an arm's length transaction.
CNA Data #
2531
50
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
COMPARABLE 4
Property Reference:
Property Type:
Residential Acreage Vacant Land
Address:
40th Ave SE
Naples, FL 34117
County:
Collier
Location:
North side of 40th Ave SE
STRAP/ID:
41616360009
Grantor:
Roberta Miller
Grantee:
Katherine Delgado
Legal Data:
Sale Date:
September 16, 2021
Sale Price:
$56,000
Sale Price per Sq. Ft.:
$0.47
Sale Price per Acre:
$20,513
Recording:
Instr.#6131306
Interest Conveyed:
Fee Simple
Deed Conveyed:
Warranty Deed
Land Use:
Estates Designation
Zoning:
E
Highest and Best Use:
Low density residential/agriculture
CNA Data # 2532
51
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Site Data:
Site Dimensions: 180' x 663'
Site Size: 118,919 square feet, 2.730 acres
Shape: Rectangular
Topography: Appears level and fully wooded
Corner/Visibility Influence: No
Utilities: None
Access: From 40th Ave SE
Wetlands/Uplands: 99% Wetlands
Soils: None Adverse Apparent
Sale Analvsis:
Sale Price: $56,000
Financing: Cash to Seller
Price per SF: $0.47
Price per Acre: $20,513
Sale Confirmation:
Verification: Timothy Scott Summers -Listing Agent, 239-682-6178
Verifying Appraiser: Hannah Dwyer, August 08, 2022
Sale History: No sales in prior 3 years
Comments:
This is the sale of a vacant unimproved parcel located off 40th Ave SE in Naples. The parcel
is full wooded with no utilities to the site. An FDEP wetlands determination report indicated the
site is 99% wetlands and will require an ERP permit to develop the land. The listing agent
stated that this was an arms length transaction.
CNA Data #
2532
52
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
COMPARABLE 5
Property Reference:
Property Type:
Residential Acreage Vacant Land
Address:
34th Ave SE
Naples, FL 34117
County:
Collier
Location:
North side of 34th Ave SE
STRAP/ID:
41718760002
Grantor:
Elizabeth Hernandez Lopez
Grantee:
CT401, LLC
Le_pal Data:
Sale Date:
July 15, 2021
Sale Price:
$65,000
Sale Price per Sq. Ft.:
$0.55
Sale Price per Acre:
$23,810
Recording:
Instr.#6104419
Interest Conveyed:
Fee Simple
Deed Conveyed:
Warranty Deed
Land Use:
Estates Designation
Zoning:
E
Highest and Best Use:
Low density residential/agriculture
CNA Data # 2533
53
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Site Data:
Site Dimensions:
Site Size:
Shape:
Topography:
Corner/Visibility Influence:
Utilities:
Access:
Wetlands/Uplands:
Soils:
Sale Analysis:
Sale Price:
Financing:
Price per SF:
Price per Acre:
Sale Confirmation:
Verification:
Verifying Appraiser:
Sale History:
180' x 660'
118,919 square feet, 2.730 acres
Rectangular
Appears level and fully wooded
No
None
From 40th Ave SE
100% Wetlands
None Adverse Apparent
$65,000
Cash to Seller
$0.55
$23,810
Adriana Garcia -Guerrero -Listing Agent, 239-821-2970
Hannah Dwyer, August 10, 2022
No sales in prior 3 years
Comments:
This is the sale of vacant land located off 40th Ave SE in Naples. The parcel is fully wooded
with no utilities. The site is designated as 100% wetlands and will require an ERP permit to
develop the land. The property was on the market for about 2 months at a list price of
$85,000 before selling at $65,000. This was an arm's length transaction.
CNA Data #
2533
Please note the land sale adjustment grid that follows.
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In
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Adjustment Analysis: The sales were compared to each other individually and collectively as
well as being compared to the subject property in order to assist in the adjustment process.
Property Rights: "An element of comparison in the sales comparison approach; comparable
sales can be adjusted for the effect of differences in the real property rights (fee simple, leased fee,
leasehold, easements, or other encumbrances, etc.) involved in the transactions being compared. "
In this analysis all property rights conveyed were fee simple, no adjustments were necessary.
Financing: "The manner in which a transaction was financed; an element of comparison in the
sales comparison approach whereby comparable properties can be adjusted for the influence of
differences between a transaction's financing terms and those assumed in the valuation of a
subject property." In this analysis all of the transactions were cash to the seller, no adjustments
were necessary.
Conditions of Sales: `An element of comparison in the sales comparison approach; comparable
properties can be adjusted for differences in the motivations of either the buyer or a seller in a
transaction." In this analysis, the five sales are all "arm's length" transactions including no
conditions of sale.
Expenditures Immediately After Sale: "An element of comparison in the sales comparison
approach; comparable properties can be adjusted for any additional investment (e.g., curing
deferred maintenance) that the buyer needed to make immediately after purchase for the
properties to have similar utility to the subject property being valued." None of the five
comparables required expenditures immediately after sale; no adjustment for this factor was
required.
Market Conditions: "An element of comparison in the sales comparison approach; comparable
properties can be adjusted for differences in the points in the real estate cycle at which the
transactions occur. Sometimes called a time adjustment because the differences in dates of sale
are often compared, although the usage can be misleading because property values do not
change merely as the result of the passage of time. "
The sales transactions occurred between July 2021 (Sale 5) and July 2022 (Sale One). Realtors
familiar with this market area confirmed that both land and improved property values had been
increasing, especially in the subjects immediate neighborhood towards the end of 2021 and early
2022, but have leveled off in recent months. Sales One through Three occurred within the last
two months from the date of value and therefore did not require a market conditions adjustment.
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
Sales Four and Five occurred between eleven months to just over one year ago; a market
conditions adjustment of 8% was applied to these sales.
Physical Characteristics: Next the sales were considered and compared with one another and
the subject for physical characteristics. These include location, parcel size, land use classification,
zoning classification, utilities, access and site condition. The analyst will utilize a quantitative
procedure by considering percentage adjustments for physical differences in the sales properties
when compared to the subject. These adjustments will be made on a percentage basis with a net
adjustment being calculated and this being multiplied by the value per square foot to arrive at an
adjusted value per square foot.
Location Adjustment: The subject property is located between 401" Ave SE and 1-75 in Naples.
All of the sales are located within the same immediate neighborhood as the subject and in close
proximity. None of the sales required an adjustment in this category.
Size: The subject property contains 3.16 acres or 137,650 square feet. Sale Two required an
upward adjustment of 5% for being bigger (inferior) to the subject at 5 acres. Sales One, Three,
Four and Five required a downward adjustment of 10% for being smaller (superior) at 2.73 acres
each.
Land Use Classification: The subject property has a land use classification of Estates
Designation. All of the sales have the same land use designation as the subject and did not
require an adjustment.
Zoning Classification: The subject property is zoned (E) Estates District. All of the sales have
the same zoning as the subject and did not require an adjustment.
Utilities: The subject site currently has no utilities. This is the same for all of the comparables
aside from Sale One which has cable, electric and phone available. However, this does not
warrant an adjustment and therefore none of the comparable sales were adjusted for this factor.
Access: The subject property currently has no road access. All of the comparables have frontage
along a paved roadway with road access easements and were adjusted downward 15% for this
factor.
Topography/Site Condition: The subject is vacant, fully wooded with ground brush covering. All
of the sales are considered similar to the subject in this category.
57
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
Wetlands: The subject is 80% Hydric Slough and Depressional soils and 20% uplands. The
comparable sales are 99%-100% wetlands and considered inferior to the subject in this category
and were therefore adjusted upwards 5%
Permit Required: The subject is 80% slough and depressional soils with 20% uplands although
an official determination of whether a permit is needed to develop on the land has not been done.
All of the sales have wetland determinations that require a permit to develop and were therefore
adjusted upward 5% in this category due to not having an uplands indicated compared to the
subjects 20% uplands.
Land Sales Discussion: Following will be a brief discussion of each of the five sales utilized in
this analysis to estimate the market value for the subject property.
Land Sale One is the July 29, 2022 purchase of the vacant site located at 3425 22nd Ave SE in
Naples, Florida. The site contains 2.73 acres and was acquired for $55,000 or $0.46 per square
foot. Overall, this sale is rated superior to the subject due to having paved road access and its
smaller size. The final adjusted price per square foot for this sale is $0.39.
Land Sale Two is the July 27, 2022 purchase of the vacant site located off 261h Ave SE in Naples,
Florida. The site contains 5.00 acres and was acquired for $95,000 or $0.44 per square foot.
Overall, this sale is rated slightly superior to the subject due to having paved road access. The final
adjusted price for this sale is $0.46 per square foot.
Land Sale Three is the June 6, 2022 purchase of the vacant site located at 3624 28th Ave SE in
Naples, Florida. The site contains 2.73 acres and was acquired for $71,728 or $0.60 per square
foot. Overall, this sale is rated superior to the subject due to having paved road access and its
smaller size. The final adjusted price for this sale is $0.51 per square foot.
Land Sale Four is the September 16, 2021 purchase of the vacant site located off 40th Ave SE in
Naples, Florida. The site contains 2.73 acres and was acquired for $56,000 or $0.51 per square
foot. Overall, this sale is rated superior to the subject due to having paved road access and its
smaller size. The final adjusted price for this sale is $0.43 per square foot.
Land Sale Five is the July 15, 2021 purchase of the vacant site located off 341h Ave SE in Naples,
Florida. The site contains 2.73 acres and was acquired for $65,000 or $0.59 per square foot.
Overall, this sale is rated superior to the subject due to having paved road access and its smaller
size. The final adjusted price for this sale is $0.50 per square foot.
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
Reconciliation of Sales Comparison Approach
Range of Values
Adj. Sales Price Per SF
Maximum
$0.51
Minimum
$0.39
Mean
$0.46
Median
$0.46
Final Per Sq. Ft. Estimate
$0.46
Final Analysis: Five sales were utilized in the analysis process. The value indicators show an
adjusted range from a low of $0.39 per square foot (Sale One) to a high of $0.51 per square foot
(Sale Three). The mean and median value indications are $0.46 per square foot, respectively.
No one sale is considered most similar to the subject and as such all of the sales are good
representations of vacant land in the subject market. Sales One, Two and Three are the most
recent sales, with Sales Four and Five being the oldest. All five sales are of the same, topography,
zoning and land use classification. All of the sales were adjusted downward for superior access
with paved road frontage. Sales One, Three, Four and Five were adjusted downward for superior
size. Sale Two was adjusted upward for inferior size. All five sales were adjusted upwards 5% for
wetland determinations and required permit to develop. All of the comparable sales are in close
proximity to the subject.
The five sales utilized in this report were considered the best available for comparison purposes.
Based on all the preceding information it is our opinion the subject property warrants a value of
$0.46 per square foot which is just below the mean -median values indicated above. Multiplying
this by the 137,650 square feet contained within the subject site provides a value indication of
$63,319 or $63,000 rounded.
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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Section 6 - Reconciliation of Value
Summary of Value Conclusions i°As-Is"
Cost Approach
Income Approach
Sales Comparison Approach
Not Applied
Not Applied
$63,000
The Cost Approach is based upon the principle of substitution, which states that a prudent
purchaser would not pay more for a property than the amount required to purchase a similar site
and construct similar improvements without undue delay, producing a property of equal desirability
and utility. Since there are no improvements to consider, the cost approach was not used in this
appraisal.
The Income Approach compares rentals of similar properties to the subject. The derived market
rental rates are capitalized at a rate which considers available market financing and investor equity
return requirements. Vacant land is typically not purchased for its ability to generate a positive
cash stream. Therefore, the income approach was not used in this appraisal.
The Sales Comparison Approach references sales of similar properties located in competitive
areas in the market area as researched. The five sales analyzed provide a range of value
indications which supports the final value conclusion. The sales utilized in this analysis provide a
range of actual purchase prices for properties considered to be similar to the subject. The
appraiser properly considered each of the sales studied as well as the listing and analyzed each of
these properties in relationship to the subject in order to arrive at a value estimate for the subject
property.
Based on market conditions existing as of the effective date of appraisal, and in consideration of
the property as it existed on this date, it is our opinion the subject property, under the extraordinary
assumptions as discussed in this report, warranted a market value in its "as is" condition in fee
simple ownership on August 1, 2022 of:
SIXTY-THREE THOUSAND DOLLARS...................................................................... ($63,000.00).
Respectfully submitted,
%�9_�_
Michael Jonas, MAI, AI-GRS, CCIM
State -certified general real estate appraiser RZ2623
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
Section 7 - Certification and Limiting Conditions
Certification of Michael Jonas, MAI, AI-GRS, CCIM
I certify to the best of my knowledge and belief:
• 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 is our personal, impartial and unbiased
professional analyses, opinions, and conclusions.
• 1 have no present or prospective interest in or bias with respect to the property that is the
subject of this report and have no personal interest in or bias with respect to 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.
• This appraisal assignment was not based upon a requested minimum valuation, a specific
valuation, or the approval of a loan.
• My analyses, opinions, and conclusions were developed, and this report has been
prepared, in conformity with the Uniform Standards of Professional Appraisal Practice of
The Appraisal Foundation and the requirements of the Code of Professional Ethics and the
Standards of Professional Appraisal Practice of the Appraisal Institute, as well as the
requirements of the State of Florida relating to review by its duly authorized
representatives. This report also conforms to the requirements of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989 (FIRREA).
• The use of this report is subject to the requirements of the Appraisal Institute relating to
review by its duly authorized representatives.
• Michael Jonas has completed the requirements of the continuing education program of the
Appraisal Institute.
• Michael Jonas has made an inspection of the property that is the subject of this report.
• Hannah Dwyer, State -Registered Appraiser Trainee R125089, contributed to the
development of the appraisal report in the form of 45 hours. No additional persons
contributed significant real property appraisal assistance to the signors of this report.
• Michael Jonas has extensive experience in the appraisal/review of similar property types.
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• Michael Jonas is currently certified in the state where the subject is located and has
completed the continuing education requirements set forth with the State of Florida.
Certification is current until November 30, 2022.
• Although other appraisers may be contacted as a part of our routine market research
investigations, absolute client confidentiality and privacy are maintained at all times with
regard to this assignment without conflict of interest.
• Michael Jonas is in compliance with the Competency Provision in the USPAP as adopted
in FIRREA 1989 and has sufficient education and experience to perform the appraisal of
the subject property.
• Michael Jonas has not previously appraised the subject property; nor has he performed
any other services related to the subject property in the past three years.
Based on market conditions existing as of the effective date of appraisal, and in consideration of
the property as it existed on this date, it is our opinion the subject property, under the extraordinary
assumptions as discussed in this report, warranted a market value in its "as is" condition in fee
simple ownership on August 1, 2022 of:
SIXTY-THREE THOUSAND DOLLARS...................................................................... ($63,000.00).
Respectfully submitted,
CARLSON, NORRIS & ASSOCIATES
;�� rj/_Z-�
Michael Jonas, MAI, AI-GRS, CCIM
State -certified general real estate appraiser RZ2623
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General Assumptions & Limiting Conditions
Information Used: No responsibility is assumed for accuracy of information furnished by others
or from others, including the client, its officers and employees, or public records. We are not liable
for such information or for the work of contractors, subcontractors and engineers. The comparable
data relied upon in this appraisal has been confirmed with one or more parties familiar with the
transaction unless otherwise noted; all are considered appropriate for inclusion to the best of my
factual judgment and knowledge.
Certain information upon which the opinions and values are based may have been gathered by
research staff working with the appraiser. Names, professional qualifications and extent of their
participation can be furnished to the client upon request.
Legal, Engineering, Financial, Structural or Mechanical Nature, Hidden Components, Soil:
No responsibility is assumed for matters legal in character or nature nor matters of survey, nor of
any architectural, structural, mechanical or engineering nature. No opinion is rendered as to the
legal nature or condition of the title to the property, which is presumed to be good and marketable.
The property is appraised assuming it is free and clear of all mortgages, liens or encumbrances,
unless otherwise stated in particular parts of this report.
The legal description is presumed to be correct, but I have not confirmed it by survey or otherwise.
I assume no responsibility for the survey, any encroachments or overlapping or other
discrepancies that might be revealed thereby.
I have inspected, as far as possible by observation, the land thereon; however, it was not possible
to personally observe conditions beneath the soil or hidden; as a result, no representation is made
herein as to such matters unless otherwise specifically stated. The estimated market value
assumes that no such conditions exist that would cause a loss of value. I do not warrant against
the occurrence of problems arising from any of these conditions. It is assumed that there are no
hidden or unapparent conditions to the property, soil, subsoil or structures, which would render
them more or less valuable. No responsibility is assumed for any such conditions or for any
expense or engineering to discover them.
Information relating to the location or existence of public utilities has been obtained through inquiry
to the appropriate utility authority, or has been ascertained from visual evidence. No warranty has
been made regarding the exact location or capacities of public utility systems. Subsurface oil, gas
or mineral rights were not considered in this report unless otherwise stated.
Legality of Use: The appraisal is based on the premise that there is or will be full compliance with
all applicable Federal, State and local environmental regulations and laws, unless otherwise stated
in the report; and that all appropriate zoning, building and use regulations and restrictions of all
types have been or will be complied with and required licenses, consent, permits or other authority,
whether local, State, Federal and/or private, have been or can be obtained or renewed for the use
intended and considered in the value estimate.
Component Values: The distribution of the total valuation of this report between land and
improvements applies only under the proposed program of utilization. The separate valuations of
land and buildings must not be used in conjunction with any other appraisal, and are invalid if so
used.
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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A report related to an estate that is less than the whole fee simple estate applies only to the
fractional interest involved. The value of this fractional interest, plus the value of all other fractional
interests, may or may not equal the value of the entire fee simple estate considered as a whole.
A report relating to the geographic portion of a larger property applies only to such geographic
portion and should not be considered as applying with equal validity to other portions of the larger
property or tract. The value for such geographic portions, plus the value of all other geographic
portions, may or may not equal the value of the entire property or tract considered as a single
entity.
All valuations in the report are applicable only under the estimated program of the highest and best
use and are not necessarily appropriate under other programs of use.
Auxiliary and Related Studies: No environmental or impact studies, special market study or
analysis, highest and best use analysis study or feasibility study has been requested or made by
us unless otherwise specified in this report or in my agreement for services. I reserve the unlimited
right to alter, amend, revise or rescind any of these statements, findings, opinions, values,
estimates or conclusions upon any subsequent study or analysis or previous study or analysis that
subsequently becomes available to us.
Dollar Values, Purchasing Power: The value estimates and the costs used herein are as of the
date of the estimate of value. All dollar amounts are based on the purchasing power and price of
the United States dollar as of the date of value estimate.
Inclusions: Furnishings and equipment or business operations, except as otherwise specifically
indicated, have been disregarded, with only the real estate being considered.
Proposed Improvements Conditioned Value: For the purpose of this appraisal, on- or off -site
improvements proposed, if any, as well as any repairs required, are considered to be completed in
a good and workmanlike manner according to information submitted and/or considered by us. In
cases of proposed construction, the report is subject to change upon inspection of the property
after construction is complete. The estimate of value, as proposed, is as of the date shown, as if
completed and operating at levels shown and projected.
Value Change, Dynamic Market Influences: The estimated value is subject to change with
market changes over time. Value is highly related to interest rates, exposure, time, promotional
effort, supply and demand, terms of sale, motivation and conditions surrounding the offering. The
value estimate considers the productivity and relative attractiveness of the property both physically
and economically in the marketplace.
The estimate of value in this report is not based in whole or in part upon race, color or national
origin of the present owners or occupants of the properties in the vicinity of the property appraised.
In the event this appraisal includes the capitalization of income, the estimate of value is a reflection
of such benefits and my interpretation of income and yields and other factors which were derived
from general and specific market information. Such estimates are made as of the date of the
estimate of value. As a result, they are subject to change, as the market is dynamic and may
naturally change over time. The date upon which the value estimate applies is only as of the date
of valuation, as stated in the letter of transmittal. The appraisal assumes no responsibility for
economic or physical factors occurring at some later date which may affect the opinion stated
herein.
An appraisal is the product of a professionally trained person, but nevertheless is an opinion only,
and not a provable fact. As a personal opinion, a valuation may vary between appraisers based
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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upon the same facts. Thus, the appraiser warrants only that the value conclusions are his best
estimate as of the date of valuation. There are no guaranties, either written or implied, that the
property would sell for the expressed estimate of value.
Title Review: Unless otherwise stated, the appraiser has not reviewed an abstract of title relating
to the subject property. No title search has been made, and the reader should consult an attorney
or title company for information and data relative to the property ownership and legal description.
It is assumed that the subject title is marketable, but the title should be reviewed by legal counsel.
Any information given by the appraiser as to a sales history is information that the appraiser has
researched; to the best of my knowledge, this information is accurate, but not warranted.
Management of the Property: It is assumed that the property which is the subject of this report
will be under prudent and competent ownership and management over the entire life of the
property. If prudent and competent management and ownership are not provided, this would have
an adverse effect upon the value of the property appraised.
Confidentiality: We are not entitled to divulge the material (evaluation or valuation) content of this
report and analytical findings or conclusions, or give a copy of this report to anyone other than the
client or his designee, as specified in writing, except as may be required by the Appraisal Institute,
as they may request in confidence for ethic enforcement, or by a court of law with the power of
subpoena.
All conclusions and opinions concerning the analyses as set forth herein are prepared by the
appraisers whose signatures appear. No change of any item in the report shall be made by
anyone other than the appraiser, and the firm shall have no responsibility if any such unauthorized
change is made.
Whenever our opinion herein with respect to the existence or absence of fact is qualified by the
phrase or phrases "to the best of our knowledge", "it appears" or "indicated", it is intended to
indicate that, during the course of our review and investigation of the property, no information has
come to our attention which would give us actual knowledge of the existence or absence of such
facts.
The client shall notify the appraiser of any error, omission or invalid data herein within 10 days of
receipt and return of the report, along with all copies, to the appraiser for corrections prior to any
use whatsoever. Neither our name nor this report may be used in connection with any financing
plans which would be classified as a public offering under State or Federal Security Laws.
Copies, Publication, Distribution, Use of Report: Possession of this report, or any copy thereof,
does not carry with it the right of publication, nor may it be used for other than its intended use.
The physical report remains the property of the firm for the use of the client, with the fee being for
the analytical services only. This report may not be used for any purpose by any person or
corporation other than the client or the party to whom the report is addressed. Additional copies
may not be made without the written consent of an officer of the firm, and then only in its entirety.
Neither all nor any part of the contents of this report shall be conveyed to the public through
advertising, public relations effort, news, sales or other media without my prior written consent and
approval of the client.
It has been assumed that the client or representative thereof, if soliciting funds for his project, has
furnished to the user of this report complete plans, specifications, surveys and photographs of land
and improvements, along with all other information which might be deemed necessary to correctly
analyze and appraise the subject property.
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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Authentic Copies: Any copy that does not have original signatures of the appraiser is
unauthorized and may have been altered and, therefore, is considered invalid.
Testimony, Consultation, Completion of Contract for Appraisal Services: A contract for
appraisal, consultation or analytical services is fulfilled and the total fee payable upon completion
of the report. The appraisers or those assisting in the preparation of the report will not be asked or
required to give testimony in court or hearing because of having made the appraisal in full or in
part, nor will they be asked or required to engage in post appraisal consultation with client or third
parties except under separate and special arrangement and at an additional fee.
Any subsequent copies of this appraisal report will be furnished on a cost-plus expenses' basis, to
be negotiated at the time of request.
Limit of Liability: Liability of the firm and the associates is limited to the fee collected for
preparation of the appraisal. There is no accountability or liability to any third party.
Fee: The fee for this appraisal or study is for the service rendered, and not for time spent on the
physical report. The acceptance of the report by the client takes with it the agreement and
acknowledgement that the client will pay the negotiated fee, whether said agreement was verbal
or written. The fee is in no way contingent on the value estimated.
Special Limiting Conditions: The Americans with Disabilities Act became effective January 26,
1992. Notwithstanding any discussion of possible readily achievable barrier removable
construction items in this report, Carlson, Norris and Associates, has not made a specific
compliance survey and analysis of this property to determine whether it is in conformance with the
various detailed requirements of the A.D.A. It is possible that a compliance survey of the property
together with a detailed analysis of the requirements of the A.D.A. could reveal that the property is
not in compliance with one or more of the requirements of the A.D.A.; If so, this fact could have a
negative effect on the value estimated herein. Since Carlson, Norris and Associates has no
specific information relating to this issue, nor is Carlson, Norris and Associates qualified to make
such an assessment, the effect of any possible noncompliance with the requirements of the A.D.A.
was not considered in estimating the value of the subject property.
This analysis is made in conformity with the requirements with the Uniform Standards of
Professional Appraisal Practice and the Standards of Professional Conduct of the Appraisal
Institute.
Extraordinary Assumption is defined as: "An assumption, directly related to a specific
assignment, as of the effective date of the assignment results, which, if found to be false, could
alter the appraiser's opinions or conclusions. Extraordinary assumptions presume as fact
otherwise uncertain information about physical, legal, or economic characteristics of the subject
property; or about conditions external to the property, such as market conditions or trends, or
about the integrity of data used in an analysis." An extraordinary assumption may be used in an
assignment only if:
• It is required to properly develop credible opinions and conclusions.
• The appraiser has a reasonable basis for the extraordinary assumption.
• Use of the extraordinary assumption results in a credible analysis; and
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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The appraiser complies with the disclosure requirements set forth in USPAP for
extraordinary assumptions.
Please note the following extraordinary assumptions:
• A soil analysis for the site has not been provided for the preparation of this appraisal. In the
absence of a soil report, it is a specific assumption that the site has adequate soils to
support the highest and best use. The analyst is not an expert in area of soils, and would
recommend that an expert be consulted.
• It is assumed that there are no hidden or unapparent conditions to the property, soil, or
subsoil, which would render them more or less valuable. Subsurface oil, gas or mineral
rights were not considered in this report unless otherwise stated. The analyst is not an
expert with respect to subsurface conditions, and would recommend that an expert be
consulted.
• It is assumed that there are no hazardous materials either at ground level or subsurface.
None were noted during the property inspection. The analyst is not an expert in the
evaluation of site contamination, and would recommend that an expert be consulted.
• The appraisers were not provided with a survey of the subject parcel. We relied on the
information found on the Collier County Property Appraiser's website. It is assumed the
subject's land size noted is accurate.
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Section 8 - Addenda
68
M V B BANK AND SMALL BUSINESS ADMINISTRATION
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SUBJECT QUIT CLAIM DEED
Quitclaim Deed
THIS QUITCLAIM DEED, executed this 25 day of May .2oob ,
tryfir5tparty, Crant&, Eladio R. Arias
whose past office address is 2356.9W 125 Avenue, Miramar, Florida 33027-2636
to seoond party. Gran,Giran,%P, f Eladia R. Arias and Silvia M Arias
whose post affimArressj� 2356 SW 12S Avenue, Miramar, lorida 33027-2636
4YITHESSE7H, That said first parry, Fax gopd consideration and for the sum of
f
Dollars {3 0 j
paid by the said second party, Ili receipt whereof is hereby acknowledged, does hereby remise, release and quitda'tn undo the
sand Word party forever, all ttte nghC ruler lyterest and claim wh ii;h the said first party has in and to the following dewified
parcel of land, and improvements arrd app nances dwreta in the County of Miami -Dade
5teteof Florida toy�l.
East 1501 of Tract 121, Unit 91A Golden Gate Estates according to plat thereof
recorded in Flat Book 9 page 9'ot4,6a Public Records of Collier County, Florida.
3632956 OR: 3815 PC, 0669
eacoel10 is 011ICIU 11CM5 of VOLL111 LRRT, IL
W0712105 at INIAR DWI6at IF. IWCL, clan
1K M LIAO
` f � 14C•.71 .yi
WIN 2.01
jets'
JIM10 It iilu
r= idfi51f 17�TI AYI
It;NIeU !L 33127
a xoor wo-w„�a ur
LFrM -Rn QM
69
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
212 OR: 3815 PG: 0670 %111
IN WITNESS YMERECIF, The said first party has Signed artd sealed these presents the day and year first above written.
Signed, sealed and delivered ir7 presence of:
5ignafure of YPitness: ''f --
Print name of Witness; ;C2 bnO A 4—A
Signature of Witness:
Print nan* of Witness
Signature of First Partyr I
Print name of First Party: i74 4.2y-- ..y r.fg-C
signature of 5=nd Party:.
Print name of Seowd Party, r - r
Signature of Prepare — —
�.i
i
Print Name of Prepares i
I r
Address of Prepare 23 56 'y 105
Slate ofLib.4
County of r I A."7 D€
On o;�< -26 before me, -E7
appeared —ter 6 Ae"AS
personally+ known to me (or proved to me on the ha6is of satwStactory evidence} to be thir'jt r�wr4s]-.whose names) Ware
subscribed to the within instrument and acknowledged to me that helshe+they executed die same
Fr hislherJtheir autharired
capatity(ies), and that 4 hisfierltheir signalure(s) on the instrument the person(s), ar the eAtWupan alf of which the
pms*s) acted, executed the instrument, ]
5 my hand and o " I.
..Y
Sl kum of Notary
Mani "AD" Produced ID
r
tsi,6
h= ,rp;ixsec�u rri 0 2009
�eec�lnfM
PW 2
Type of1D
{Seal
0ID04 kv1" *gM.44C
Ua8 • P. c6v4
70
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, N O R R I S & ASSOCIATES
FDEP Informal Wetland Determination Map
3A ;I
8 112 . 115 18 ��521w
I
49. Legene
l� + I ■ .: '16 � /y w 33 , /� FOEP Informal Wetle nd oefennin.tions
LJ TII 3 ;7! 1 ;�11'/.!r I� �Vl Dam end+or Flold CondWg- lndicata Uplands
bap and + or Field Condillons Indicate 5{W plan is Nledatl to 13eterrnirw Impecw
I d
M
an
j7 1 � A:a And+Or Field Cdlllnn6 lntlIC810 an We[1]ne, 6 Pe rm C[S It R!alry
144 - . 124 J 2 6 � +i r 26 � � Data aM+vr Field Coneib— Wdi-le oltcnea and Permi[ Necessary
Th,-oamrminatlons"s lfmth is Sig u. are ham Informal p—pplicalion
�������
yam, GA 7A ff—-OS awe11.nd d.tarminom pprapant to $73 Q1(s], 5ectlon F.S.• and
' - + _-.+•.-.'_' 52-712_WO{7], F. A.C. I[does nol bind tF.e Oeparlminl, itn a9enla
R OT OmPIDyttS� nOr dOei it conwQy any apal r;9hw. "I—d or
{ - E ..plied
'' 4 MRCS Hyd— Soil, Moee1
t '; I • Upreaa o^al
1'%�ArA.vn wrrp'Vrr see
I. 42N
E�-jPML
. _._i7; ems+ -.ram v_ _�.�._ •.. ..a--..-.f r.�_._ r.r.�. f+re
71
M V B BANK AND SMALL BUSINESS ADMINISTRATION
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NATIONAL WETLANDS MAP
U.S. Fish and Wildlife Service
National Wetlands Inventory wetlands
August 3, ZQ22 Then map d fw general reference -Ay Th. US Fish and wildlife
g Service is not req—Na fmthe at—aoy ornf inesa of the
weaanas base data shown on oN& map Al wetzands related data should
Freshwater Emergent Wetland Lake be used in accordenoe with the layer metadata found m the
Nletlends Mapper web Ate.
Estuarine and Marine Deepwater . Freshwater ForestedlShrub Wetland � Dther
❑ Estuarine and Marine Wetland :j Freshwater Pond Riverine
NCI WMIS &f M-1,yiNWI)
iris pa�waior&d dhr he NWI Tapper
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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USDA SOIL MAP
Soil Map--Cofliar County Area, Florida
mrao es�m enneo xxu mr� emow
Map Unit Legend
Map Unit Symbol
Map Unit Noma
Acres in AOI
Percent of AOI
1133
CypresS Lake -Riviera-
1.0
29.3%
Copeland fine sands_
frequently ponded-Urban
land association, 0 to 1
percent slopes
1 t o
Brymood fine sandahban
0.2
6.0%
land complex, 0 to 2 percent
Slopes
III
Brynwood-CypresS Lake fine
2.1
64_8%
Sands -Urban land
association, 0 to 2 paraera
slopes
Totals For Area of Interest
3.3
100.0%
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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FLOOD MAP
National Flood Hazard Layer FIRMette FEMA
U 250 S00 1,000 I'sm 2.000 uv
8asemap.! USES NaNmaf Map: Orlhetmagary Data mfteshad Ocibbf-- 2020
Legend
W Ilhout Base Foal El—tlon (8FE)
SPECIAL FLOOD WM`BFE or Dept3l w.:. aeaa.w. re as
HAZARDAREAS RegulatAry Flpodway
❑.2%A-usl Chance RoM Hazard. A—
W 1% annual chance 11ood with 3—ge
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regulatory purposes.
74
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
APPRAISER LICENSE
License of Michael P. Jonas, MAI, AI-GRS, CCIM
Ran GcsanG� C�rerrx
dbiar
STATE OF FLORIDA
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
HalsrfgrawwsFxTrLwy
FLORIDA DEAL MATE APPRAISAL BD
THE CERTIFIED GENERAL APFRA#SER HERON ISCERTIFIED UNDER THE
PROVISIONSOFCHAPTER 475, FLOMDA STATUTES
MICCHAEL PAUC
1919 COURTNEY DRIVE STE 14
.FORT MYERSL, FL 31-1119 .
—r
EXPIRATION DAM.—WM MBER 3D, 2(22
Nways verify licenses online at MyfloridaLiceme.com
Do not alter this document in any form.
This isyaur license_ It is unlxvrfuI for anyone other than the licensee to use this document.
75
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
QUALIFICATIONS OF MICHAEL R. J•CFIAS. MAI. AI-GRS. CCIM
STATE -CERTIFIED GENERAL REAL ESTATE APPRAISER RZ2623
EDUCATION:
University of Central Florida - 1999 BSBA — Finance
PROFESSIONAL EDUCATION:
Appraisal Institute: National US PAP Update Course, 2012, 2014, 2016, 2020
Appraisal Institute: 2018 Legislative VALU Event , 2018
Appraisal Institute: Advanced Income Capitalization, 2003
Appraisal Institute: Advancing the Appraisal Profession, 2019
Appraisal Institute: Analyzing Distressed Real Estate, 2007
Appraisal Institute: Appraisal Laws and Rules, 2000, 2002, 2004, 2020
Appraisal Institute: Appraisal Report Writing, 2005
Appraisal Institute: Artificial Intelligence, AVMS, 2019
Appraisal Institute: Business Practice and Ethics, 2012, 2016, 2019, 2020
Appraisal Institute: Desktop Appraisals 2020
Appraisal Institute= FL State Law for Real Estate Appraisers, 2004
Appraisal Institute= Florida Appraisal Laws and Rules, 2012, 2014, 2016
Appraisal Institute: Florida Real Estate Valuation, 2011
Appraisal Institute: Florida State Law for Real Estate Appraisers, 2006
Appraisal Institute: Fundamentals of Separating Real Estate, 2012
Appraisal Institute: Insurance Appraisal, 2011
Appraisal Institute: National USPAP Update Course, 2000, 2002, 20Q4, 2046, 2008, 2010, 2012
Appraisal Institute: Real Estate Damages, 2011
Appraisal Institute: Reappraising, Readdressing, Reassigning, 2007
Appraisal Institute: Review Theory— General, 2014
Appraisal Institute: Roles]Responsi bil ities SupervisorfTrainee, 2006, 20G8
Appraisal Institute: Specialty Appraisal Continued Education, 2000, 2002, 2004, 2006, 2000,
2012, 2014, 2016
Appraisal Institute: State Law for Real Estate Appraisers, 20D8, 2010, 2012
Appraisal Institute: The Appraiser as an Expert Witness, 2016
Appraisal Institute: Trial Components, 2018
Appraisal Institute= Uniform Appraisal Standards for Federal, 2007
Bert Rodgers, Continuing Education, 2004
Bert Rogers: Real Estate CE, 2006
Bob Hague: CE for Florida Real Estate Professionals, 2016
CCIM Institute: Financial Analysis Commercial Investment, 2008
CCIM Institute:: Financial Analysis for Commercial, 20H
CCIM Institute: Investment Analysis Commercial Investment, 2009
CCIM Institute: Investment Analysis Commercial, M09
CCIM Institute: Market Analysis Commercial Investment, 2008
CCIM Institute: User Decision Analysis Commercial Industrial, 2009
CLE International: Eminent Domain, 2006
Cooke: CE for Real Estate Professionals, 2015
DPBR: FREAB Board Meeting, 2007
FREB Board Meeting, 2007
Larson Educational Services: Core Law, 2010
McKissock: Supervisor —Trainee Course for Florida, 2019
76
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
NAB OR Ethics Training: 2004, 2008, 2012, 2016
Southern Real Estate Academy: Broker License, 2DD7
Trans Equity Inc: Care Law, 2012
EXPERIENCE:
1999-200D
Clayton, Raper 8, Marshall
Orlando, FL
2000 —2001
Chapman 8, Associates
Sarasota, FL
2001 —2008
Coast Engineering Consultants, Inc
Naples, FL
2008 — 2009
Orion Bank.
Naples, FL
2009-2011
Iberia Bank
Naples, FL
2011 —2014
Integra Realty Resources
Naples, FL
2014 — 2016
Capstone Valuation Advisors, LLC
Naples, FL
2016-2D19
MPJ Real Estate Services, Inc_
Naples, FL
2019 — Present
Carlson, Norris 8, Associates
Fort Myers 8. Naples, FL
PROFESSIONAL MEMBERSHIP:
Appraisal Institute, Member (MAI f AI-GRB) No_ 124H
Certified Commercial Investment Member, CCIM No. 18275 Certification,
State Certified General Appraiser RZ2623 Member, Naples Area Board of Realtors
State of Florida, Registered Real Estate Broker BK700992
Properties appraised include: subdivisions, retail centers, motels, commercial buildings, industrial
buildings, warehouses. mobile home parks, professional offices, medical offices, of icelwarehouse
condominiums, single family homes, duplexes, apartment projects, individual condominium projects,
residential lots, acreage, wetlands, special use properties, ranches, conservation easements hotels,
marinas, mixed -use subdivisions, regional malls, gas stations, self --storage facilities and eminent
domain eases_
Appraisal clients include: banks, savings and loan associations, attorneys, caiporadons, builders,
developers, mortgage oompanies, insurance companies, home transfer companies, private
individuals, and local, state and federal government agencies_
Qualified as an expertwitness in Monroe and Collier County Circuit Court_
77
3.79 ACMES OF VACANT LAND
UNASSIGNED
North of I-75
NAPLE , FLORIDA 34117
Prepared For:
Collier Counter Board of
Commissioners
Attention: Roosevelt Leonard, R/V-. -
ACr .Senior Review Appraiser
Real Property Management
3335 Tarniami Trail East, Suite ? C-=
Naples, Florida 34112
Prepared By:
1919 Courtney Drive. Suite 14
Fort Myers, FL 339-D1
(239) 936-1991
www. Ca rl so rl norrl5 . Corfl
August 12, 2022
Collier County Board of Commissioners
Attention: Roosevelt Leonard, R/W-AC, Senior Review Appraiser
Real Property Management
3335 Tamiami Trail East, Suite 101
Naples, Florida 34112
Re: 3.79 Acres of Vacant Land
North of 1-75
Naples, Florida 34117
Our File Number: 22-179-6A
PO #4500217055
Dear Mr. Leonard,
At your request and authorization, Carlson, Norris and Associates, Inc. have prepared an appraisal
presented in an Appraisal Report of the market value for the above referenced real property. Per
the request of the client, we have provided the market value of the subject on an As -Is basis. The
interest appraised includes the fee simple estate of the subject property.
The subject property is vacant land located approximately 170+/- feet north of 1-75 and 648+/- feet
south of 40t" Ave SE in Naples, Florida. There is no road access to the property. The site is
rectangular in shape and contains 3.79 acres or 165,092 square feet. The site is vacant, fully
wooded and 100% forested/shrub wetlands. The property contains 100% hydric slough and
depressional soils with the majority being hydric slough. There are no building improvements. The
site will be more fully described within the body of the attached report.
Data, information, and calculations leading to the value conclusion are incorporated in the report
following this letter. The report, in its entirety, including all assumptions and limiting conditions, is
an integral part of, and inseparable from, this letter. Any special assumptions and limiting
considerations were especially noted in Section 7 of this report. Your attention is directed to these
General Assumptions and Limiting Conditions which are part of this report.
The following appraisal sets forth the most pertinent data gathered, the techniques employed, and
the reasoning leading to the opinion of value. The analyses, opinions and conclusions were
developed based on, and this report has been prepared in conformance with, our interpretation of
the guidelines and recommendations set forth in the Uniform Standards of Professional Appraisal
Practice (USPAP) of the Appraisal Foundation, the requirements of the Code of Professional
Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) and Title XI Regulations
1919 Courtney Drive I Fort Myers, FL 33901 1 Phone 239.936.1991 1 www.carlsonnorris.com
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
August 12, 2022
Page 2
Carlson, Norris and Associates, Inc. does not authorize the out -of -context quoting from or partial
reprinting of this appraisal report. Further, neither all nor any part of this appraisal report shall be
disseminated to the general public by the use of media for public communication without the prior
written consent of the appraiser signing this report.
Based on market conditions existing as of the effective date of appraisal, and in consideration of
the property as it existed on this date, it is our opinion the subject property, under the extraordinary
assumptions as discussed in this report, warranted a market value in its "as is" condition in fee
simple ownership on August 1, 2022 of:
SIXTY-SIX THOUSAND DOLLARS............................................................................. ($66,000.00).
PLEASE NOTE: The Novel Coronavirus (COVID-19) outbreak, declared by the World Health
Organization as a global health emergency on 1-30-2020, is causing heightening uncertainty in
local, national and global markets. This outbreak was identified as a pandemic on 3-11-2020 and
further classified as a National Emergency on 3-13-2020. Worldwide cases of COVID-19 have
been identified and the scope of this crisis has expanded. Travel and "shelter in place" restrictions
have been implemented to "blunt the curve" of infections and stem the scale and longevity of this
outbreak. A prolonged medical and economic crisis may have a significant, yet unquantifiable
impact on real estate markets.
The information provided within this appraisal is based on market data available at this juncture
(date of value and date of the report). However, due to the significant uncertainty in property and
capital markets, as well as the rapid unfolding of this event, it is indeterminable for the appraiser to
quantify and assess the impact that this outbreak has had/or will have on real estate property
values. Values and incomes may change more quickly and significantly than during more typical
market conditions.
It should be emphasized that the results of this appraisal analysis and the value
conclusions reported herein are based on the effective date of the appraisal and the
appraiser makes no representation as to the effect on the subject property of any
unforeseen event subsequent to the effective date.
Please refer to the attached appraisal report, plus exhibits, for documentation of the value
estimates contained herein. It has been a pleasure to assist you in this assignment. If you have
any questions concerning the analysis, or if Carlson, Norris and Associates can be of further
service, please contact us.
Respectfully submitted,
Michael Jonas, MAI, AI-GRS, CCIM
State -certified general real estate appraiser RZ2623
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
SUBJECT AERIAL PHOTOGRAPH
3.79 ACRES OF VACANT LAND
NORTH OF 1-75
NAPLES, FLORIDA 34117
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
TABLE OF CONTENTS
SUBJECT AERIAL PHOTOGRAPH............................................................................................................1
SECTION 1 - SUMMARY OF SALIENT FACTS........................................................................3
SECTION 2 - PREMISES OF THE APPRAISAL.......................................................................5
INTENDED USE AND USER OF APPRAISAL........................................................................................................ 5
SCOPEOF WORK..............................................................................................................................................
5
SALESHISTORY................................................................................................................................................8
VALUATIONHISTORY........................................................................................................................................9
APPRAISAL ANALYSIS AND REPORT TYPE........................................................................................................9
EXPOSURETIME...............................................................................................................................................9
MARKETINGTIME............................................................................................................................................10
SECTION 3 - DESCRIPTION OF REAL ESTATE APPRAISED................................................12
COLLIER COUNTY AREA ANALYSIS................................................................................................................12
LOCATIONMAP...............................................................................................................................................27
MARKET AREA DESCRIPTION.........................................................................................................................28
LEGALDESCRIPTION......................................................................................................................................31
OWNEROF RECORD.......................................................................................................................................32
ASSESSEDVALUE AND TAXES.......................................................................................................................32
SITEDESCRIPTION..........................................................................................................................................32
SUBJECT PROPERTY PHOTOGRAPHS.............................................................................................................38
SECTION 4 - HIGHEST AND BEST USE ANALYSIS.............................................................40
HIGHEST AND BEST USE AS THOUGH VACANT...............................................................................................40
SECTION 5 - VALUATION OF THE SUBJECT......................................................................42
VALUE ESTIMATE BY THE COST APPROACH..................................................................................................42
VALUE ESTIMATE BY THE INCOME APPROACH..............................................................................................42
VALUE ESTIMATE BY THE SALES COMPARISON APPROACH.........................................................................42
SECTION 6 - RECONCILIATION OF VALUE.........................................................................60
SUMMARY OF VALUE CONCLUSIONS..............................................................................................................60
SECTION 7 - CERTIFICATION AND LIMITING CONDITIONS..................................................61
CERTIFICATION OF MICHAEL JONAS, MAI, AI-GRS, CCIM...........................................................................61
GENERAL ASSUMPTIONS & LIMITING CONDITIONS.........................................................................................63
SECTION 8 -ADDENDA ....................................................................................................68
SUBJECT QUITY CLAIM DEED..............................................................................................69
FDEPMAP....................................................................................................................71
WETLANDSMAP.............................................................................................................................................72
SOILMAP.......................................................................................................................................................73
FLOODMAP....................................................................................................................................................74
APPRAISERLICENSE......................................................................................................................................75
QUALIFICATIONS OF MICHAEL JONAS, MAI, AI-GRS, CCIM.........................................................................76
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Section 1 - Summary of Salient Facts
Property Reference: 41560080008
Property Type: Vacant Land
Property Address: Unassigned, North of 1-75
Naples, Florida 34117
Report Format:
Appraisal Report
Date Of Inspection:
August 1, 2022
Date Of Value:
August 1, 2022
Date Of Report:
August 12, 2022
Real Estate Interest
Appraised:
Fee Simple
Purpose Of Appraisal: The purpose of this appraisal is to provide our estimate of the
"as is" market value of the fee simple interest of the subject
property for our client according to the reporting standards of the
Uniform Standards of Professional Appraisal Practice (USPAP),
and subject to the extraordinary assumptions stated herein.
Use of the Appraisal: The intended use of the appraisal is to assist the user, the
Collier County Board of County Commissioners, in the potential
acquisition of the subject property.
Intended Users: The intended user of this appraisal is the Collier County Board of
County Commissioners.
Appraisal Client: The client for this appraisal assignment is the Collier County
Board of County Commissioners.
Location: The property is located off approximately 170+/- feet north of I-
75 and 648+/- feet south of 401h Ave SE in Naples, Florida. The
site does not have any road access and there does not appear
to be any access easements in existence according to the
subjects Plat records. The subject property can be found in
Section 33, Township 49, Range 28, in Collier County, Florida.
Site Description: The site is rectangular in shape, contains 165,092 square feet or
3.79 acres. The site is fully wooded and is made up of 100%
Freshwater Forested/Shrub Wetlands according to the National
Wetlands Inventory map. In addition, the USDA Web Soil
Survey Map shows 92.6% Brynwood Cypress Lake fine sand,
3.6% Brynwood fine sand -urban land complex fine sands and
3.9% Cypress Lake Riviera Copeland fine sands present for the
subject. The FDEP informal wetland determination map
provided by the client indicates the site is 100% hydric
depressional and slough soils with the majority being slough.
K
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
The property is currently vacant and unimproved. The site will be
more fully described within the body of the attached report.
Comprehensive Land Use
Plan Designation: Estates Designation
Zoning Classification: E-Estates
Highest And Best Use As The highest and best use for the site would be for low density
Vacant: agriculture use consistent with the comprehensive land use plan
classification and zoning classification affecting the property.
Highest And Best Use As The subject property is a vacant unimproved parcel and as such
Improved: an analysis of the site as improved is not appropriate in this
analysis.
Market Value Indications Cost Approach: Not Applicable
"As Is": Income Capitalization Approach: Not Applicable
Sales Comparison Approach: $66,000
Market Value Estimate as
of August 1, 2022:
Appraisal Firm:
Appraisers Completing
Report:
$66,000
Carlson, Norris and Associates, Inc.
Michael Jonas, MAI, AI-GRS, CCIM
State -certified general real estate appraiser RZ2623
• I, Michael Jonas, the supervisory appraiser of a registered trainee appraiser who
contributed to the development or communication of this appraisal, hereby accept
complete responsibility for any work performed by the registered trainee appraiser named
in this report as if it were my own work.
• Hannah Dwyer, State -Registered Appraiser Trainee R125089, contributed to the
development of the appraisal report in the form of 45 hours. She assisted on the property
inspection, compiled property information, assisted in the highest and best use,
researched and analyzed comparable sale and contributed in the writing of the appraisal
report.
• As of the date of this report, Michael Jonas has completed the requirements of the
continuing education program if the State of Florida, and for the Designated Members of
the Appraisal Institute. As of the date of this report, Hannah Dwyer has completed the
requirements of the continuing education program of the State of Florida.
4
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Section 2 - Premise of the Appraisal
Purpose of Appraisal: The purpose of this appraisal is to estimate the market value of the fee
simple interest of the subject property described on an "as is" basis, under the reporting
requirements of the Uniform Standards of Professional Appraisal Practice (USPAP), as defined by
the Appraisal Foundation.
Use of the Appraisal: The intended use of this appraisal is the user, the Collier County Board of
County Commissioners, in the potential acquisition of the subject property.
Intended User of Appraisal: The intended user of the appraisal is the Collier County Board of
County Commissioners.
Client: The client for this report is the Collier County Board of County Commissioners.
Competency of Appraiser: The appraisers' specific qualifications are included within this report.
These qualifications serve as evidence of their competence for the completion of this appraisal
assignment in compliance with the competency provision contained within the Uniform Standards
of Professional Appraisal Practice as promulgated by the Appraisal Standards Board of the
Appraisal Foundation. The appraisers' knowledge and experience, combined with their
professional qualifications, are commensurate with the complexity of this assignment based on the
following:
• Professional experience
• Educational background and training
• Business, professional, academic affiliations and activities
The appraiser has previously provided consultation and value estimates for vacant parcels located
throughout Southwest Florida.
Scope of Work: The Uniform Standards of Professional Appraisal Practice (USPAP) define the
scope of work as: "the type and extent of research and analyses in an assignment". "The scope of
work includes, but is not limited to: the extent to which the property is identified, the extent to which
5
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
tangible property is inspected, the type and extent of market research and the type and extent of
analysis applied to arrive at opinions or conclusions."
The scope of this appraisal has been to collect, confirm, and report data. Other general market
data and conditions have been considered. Consideration has been given the property's zoning
and surrounding improvements and neighborhood. The work performed for this assignment
included but is not limited to the following:
• Extent to which the property was identified
o The property was identified by its STRAP Number, address and legal description.
• Extent to which the property was inspected
o An inspection of the property being appraised as well as the neighborhood in which it
is located was done on August 1, 2022. Please note, the appraiser was not able to
view the property site from 40t" Ave SE nor 42nd Ave SE due to the surrounding wood
and brush encompassing the subject and lack of any access road or trail and therefore
relied primarily on aerial visuals from the Collier County Property Appraisers website
and the neighboring property attributes.
• Type and extent of analysis applied
o The value opinions presented in this report are based upon review and analysis of the
market conditions affecting real property value, including land values and sales data for
similar properties.
o Three approaches were considered to be utilized in determining value. 1) Cost
Approach — either replacement or reproduction cost is used to develop a value
indication for the subject property. 2) Income Approach — valued on the ability of a
property generating a cash stream. 3) Sales Comparison Approach — value indication
is derived by comparing sales of similar properties. It is the most common and
preferred method of land valuation when an appropriate supply of comparable sales is
available.
o As the subject property contains no improvements, the Cost Approach is not
considered to be an applicable appraisal tool.
I
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
o Vacant land is not generally purchased for its ability to generate a cash stream;
therefore, the Income Approach is not utilized.
o The analyst will utilize the Sales Comparison Approach exclusively in estimating the
market value for the subject property.
o Collection and analysis of comparable land sales in order to perform an opinion of
value for the underlying land.
■ An investigation of comparable land sales and active listings of similar
unimproved properties were utilized. Five sales were considered in order to
make a comparative analysis which would lead to the completion of the Sales
Comparison Approach.
o The value opinion presented in this report is based upon review and analysis of the
market conditions affecting real property value, including land values, the attributes of
competitive properties, and sales data for similar properties.
o Reconciling the value indications from the appropriate approaches to value into a final
value opinion for the subject property; all as of the effective date of this report.
o Preparation of a written report.
To develop the opinion of value, Carlson, Norris and Associates, Inc. performed an appraisal as
defined by the Uniform Standards of Professional Appraisal Practice (USPAP). In this appraisal,
Carlson, Norris and Associates, Inc. used the Sales Comparison Approach to develop a reliable
value indication.
Furthermore, the value conclusion reflects information about the subject and market conditions.
The appraisal of the subject parcel has been presented in the form of an Appraisal Report, which
is intended to comply with the reporting requirements set forth under Standards Rule 2-2(a) of the
USPAP.
Property Rights Appraised: The property ownership rights appraised in this appraisal are those
known as fee simple.
7
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Fee Simple Estate is defined 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.",
Market Value Definition is defined in the Agencies' appraisal regulations as: "The most probable
price that a property should bring in a competitive and open market under all conditions requisite to
a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price
is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a
specified date and the passing of title from seller to buyer under conditions whereby:
• Buyer and seller are typically motivated;
• Both parties are well informed or well advised, and acting in what they consider their
own best interests;
• A reasonable time is allowed for exposure in the open market;
• Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements
comparable thereto; and
• The price represents the normal consideration for the property sold unaffected by
special or creative financing or sales concessions granted by anyone associated with
the sale."
(Source: Interagency Appraisal and Evaluation Guidelines; December 10, 2010, Federal
Register, Volume 75, Number 237, Page 77472)
Date of Property Inspection: August 1, 2022
Date of Value Estimate "As Is": August 1, 2022
Date of the Report: August 12, 2022
Sales History: The Uniform Standards of Professional Appraisal Practice requires a statement of
the listings, purchase contracts and sales history of the subject property for the three years prior to
the appraisal date. The subject property has not been sold or transferred within the past 5 years.
The most recent transfer of the property occurred on June 7, 2005 (OR 3815-671) and was
recorded as a Quit Claim Deed. The Grantor is shown as Eladio R. Arias and the Grantee is
1 Unless otherwise noted, all definitions in italics are taken from The Dictionary of Real Estate Appraisal, Sixth Edition, the Appraisal
Institute, Chicago, Illinois (U.S., 2015)
8
COLLIER
COUNTY BOARD
OF COUNTY COMMISSIONERS
C A R L S O N,
NORRIS
& ASSOCIATES
shown as Eladio R.
Arias and Silvia M.
Arias.
A copy of the quit claim deed can be found in the
addenda of this report.
Active Listing/Purchase Agreement: The subject is not currently under a purchase agreement
or listed for sale.
Valuation History: The Uniform Standards of Professional Appraisal Practice requires the
appraiser to divulge any services provided on the subject property during the preceding three
years. Carlson, Norris and Associates has not previously appraised the subject in the past three
years, nor have we provided additional services related to the subject property during this time
period.
Appraisal Analysis and Report Type: The Appraisal Standards Board controls the process of
making an appraisal of a parcel of real estate. The Board issues rules and guidelines from which
all appraisals and resulting reports are made. The process of administration of those rules and
guidelines is addressed to the Real Estate Appraiser Commission of each respective state. The
Appraisal Standards Board issues the rules and guidelines in the form of a document update
published each year by The Appraisal Foundation. That document is entitled "The Uniform
Standards of Professional Appraisal Practice" (USPAP).
As of January 1, 2016, the two types of appraisal types are; Appraisal Report and Restricted
Appraisal Report. The following definitions have been adopted for each type of report:
• An Appraisal Report: A written report prepared under Standards Rule 2-2(a).
• Restricted Appraisal Report: A written report prepared under Standards Rule 2-
2(b)
This appraisal is reported in an Appraisal Report format.
Exposure Time: Exposure time is the estimated length of time the property would have been
offered prior to a hypothetical market value sale on the effective date of appraisal. It is a
retrospective estimate based on an analysis of recent past events, assuming a competitive and
open market. It assumes not only adequate, sufficient, and reasonable time but also adequate,
sufficient, and reasonable marketing effort. Exposure time is therefore interrelated with appraisal
conclusion of value.
T
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
An estimate of exposure time is not intended to be a prediction of a date of sale or a simple one -
line statement. Instead, it is an integral part of the appraisal analysis and is based on one or more
of the following:
• statistical information about days on the market
• information gathered through sales verification
• interviews of market participants.
The reasonable exposure period is a function of price, time, and use. It is not an isolated estimate
of time alone. Exposure time is different for various types of real estate and under various market
conditions.
In consideration of these factors, we may have analyzed the following:
• Exposure periods of comparable sales revealed during the course of this appraisal;
• Macroeconomic exposure times for the subject property type across the Subject MSA and
the entire United States as published in multiple articles and websites.
• Knowledgeable real estate professionals.
We have also had numerous discussions with brokers active in the Collier County - Southwest
Florida area. All of these persons have indicated the land market has had varying degrees of
activity dependent on type and location.
We have also had discussions with multiple persons having active listings within the market area.
These properties have been on the market from a few months to a few years. The realtors
indicated that they have received mixed levels of interest in the properties at the list prices.
Based on this information it is our opinion an exposure time of twelve months or less appears to be
reasonable and appropriate. This exposure time assumes the subject parcel would have been
competitively priced and aggressively promoted within the market area.
Marketing Time is defined as: "An opinion of the amount of time it might take to sell a real or
personal property interest at the concluded market value level during the period immediately after
10
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
the effective date of an appraisal. Marketing time differs from exposure time, which is always
presumed to precede the effective date of an appraisal.
Marketing time is the period a prospective investor would forecast to sell the subject property
immediately after the date of value, at the value estimated. The marketing time is an estimate of
the number of months it will require to sell the subject from the date of value, into the future. The
anticipated marketing time is essentially a measure of the perceived level of risk associated with
the marketability, or liquidity, of the subject property. The marketing time estimate is based on the
data used in estimating the reasonable exposure time, in addition to an analysis of the anticipated
changes in market conditions following the date of appraisal. The future price for the subject (at the
end of the marketing time) may or may not equal the appraisal estimate. The future price depends
on unpredictable changes in the physical real estate, demographic and economic trends, real
estate markets in general, supply/demand characteristics for the property type, and many other
factors.
Based on the premise that present market conditions are the best indicators of future performance,
a prudent investor will forecast that, under the conditions described above, the subject will require
a marketing time of twelve months or less.
11
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Section 3 - Description of Real Estate Appraised
COLLIER COUNTY AREA ANALYSIS
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The subject property is located within Collier County, Florida, some 150 miles south of Tampa and
some 140 miles northwest of Miami. Collier County is located on the extreme southwestern portion
of the state of Florida. Collier County was created in 1923 and was separated out from what was a
larger Lee County. Collier County is named for Barron Collier, a New York City advertising mogul
and real estate developer who had moved to southwest Florida and established himself as
prominent business man and land owner. By the end of the decade railroads and Tamiami Trail
were in -place which opened the area to agricultural and resort development. Florida's first
commercial oil well was drilled in 1943, and the county's pine and cypress logging industry
flourished into the 1950s. The county's economy boomed along with its population shortly after
World War II. In a short span of 30 years the population increased from 6,500 to 86,000 by 1980.
The economy was sustained from agribusiness, tourism and real estate. This turned the county
into one of the fastest growing areas in the country.
12
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
PHYSICAL FACTORS
It is the largest county in the state in terms of land area with 1,998 square miles which includes
821,600 acres of preserves, parks, and refuges. Along with the land area Collier County also has
307 square miles of water to give Collier County a total size of 2,305 square miles. The most
highly developed areas within the county are west of Interstate 75 and along the coastline of the
Gulf of Mexico. Development becomes increasingly sparse the more easterly the location in the
county; and these easterly areas of the county contain a considerable amount of preserved land.
There are three incorporated cities within the county; namely City of Naples, City of Marco Island,
and Everglades City.
The county is famous for its subtropical climate with average high temperatures ranging from 781
F. in January to 921 Fahrenheit in August. The average annual precipitation for the county is 56
inches. This area is also subject to tropical storms and hurricanes. The hurricane season runs
from June through November.
Collier County,
A&Mth
Januaiy
FL Historical
Average
65.67
Temperature
Max Average
7B.6T
Min Average
52.6a:
Collier County,
monffi
January
FL Rainfall and Snowfall
AveragL Rainfall
0.52Inches
Average
Average Sr!�3-
0Inches
February
66.63
79.03-
54Z
February
1.91 Inches
Olnches
Mai-ch
67.29
811
53.45-
March
2.62 Inches
0 Inches
April
74.83`
87.2`
62.36`
April
4.32Inches
Olnches
May
78.6`
90.15`
67`
May
4.18Inches
0Inches
June
81.98`
91.48`
72.54:
June
9.82Inches
Olnches
July
BY
90.47-
75.48:
July
5.74Inches
0Inches
August
8187-
92.43-
75.33-
August
6.91 Inches
0Inches
September
82.93
91.33-
74.53-
September
9.04 Inches
0 Inches
Dctober-
77.3-
86.33-
68Z
October
5.Z4Inches
Olnches
No ember-
70.77
81.BY
59.7T
November
0.82 Inches
O Inches
December-
65.98`
77.48`
54.45`
December-
2.9Inches
Olnches
ECONO C-FINANCIAL FACTORS
There are numerous economic factors that impact the supply and demand for all types of real
estate and housing in any given area. These factors will be considered and discussed in the
following paragraphs. Although these factors are considered individually, they do not act as
independent agents in the marketplace. They interact and effect, one another. Therefore, the
economic -financial factors considered, should be considered in totality, as a part of the economic
framework.
13
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Population: Collier County has 390,774 people living there according to recent 2020 Census
data. making Collier County Florida's 171 most populous county. Collier County had a population
of 322,595 in 2010 and they have experienced a 68,179 person increase over 10 years or 19.37%
growth.
Year .
Population
Growth
Growth Rate
2020
390,774
6.143
1.60%
2019
384,631
6:143
1.62%
2018
378,488
6.143
1.65%
2017
372,345
7.000
1.92%
2016
365,345
9,238
2.59%
2015
356,107
8.781
2.53%
2014
347,326
8,261
2.44%
2013
339,065
6.780
2.04%
2012
332,277
4.645
1.42%
2011
327,632
5:037
1.56%
2010
322,595
170,496
112.10%
Additional population estimates reflect population projections from 2018 to the year 2045 and
compare the three coastal counties in the southwest Florida area. The counties include; Charlotte,
Collier and Lee. The population estimate for the year 2018 for Collier County was 367,000 (actual
was 378,488) and is predicted to increase to around 516,000 in year 2045. This would represent
a 1.064% per year or 26.6% increase in population over the entire period.
Hlgtorlc end Projected Population
Charlotte, CoHler, and Lee Counties
7ifK? —
HlStoriC Rrajerted
144fr �
°Y
eEM1."s
2018
F 14
2el6
m
3
r BW
Lee
cross
34ta
H7
-
sic
r
799a
335
400
Collier
CL
IL
1984
152
Po-ia
sx9
itd2GQ
_ —
_
0
1990 Charlotte
117
19W 1965 2ua erjun OJ10 A'1J Mu M0 20JC zo35 2Nu L045
5ouae! Qmle 01 ftvwmK Bnd oe 1pfiV11.0 Aesea [B
14
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Demographics within Collier County are predominately White at 89.3%, followed by Black or
African American at 7.4%, Asian at 1.6%, American Indian and Alaska Native at 0.5%, Native
Hawaiian and Other Pacific Islander at 0.1 % and then two or more races filling out the remaining
1.2%.
0 white alone, percent
b 89.3%
0 Black OF African American alone, percent ;a;:
d 7.4%
1)American Indian and Alaska Native alone. percent fa
d 0.5%
15Asian alone, percent (a)
p 1.6%
Native Hawaiian and Other Pacific Islander alone, percent :-.
� 0.1%
Two or More Races, percent
1.2%
() Hispanic or Latina; percent hl
b 28.2%
Q white alone, not Hispanic or Latino, percent
p 62.5%
Tourism: Tourism is important business for Naples, Marco Island and the Everglades. As the
leading employer and the primary economic engine for the region, the tourism industry is
responsible for over 38,500 jobs in Collier County. About 2 million visitors in 2019 spent over $1.5
billion dollars, resulting in a total economic impact of over $2.1 billion to Collier County. Collier
County enacts a 5% tax on all hotel, campground and vacation rental stays of less than six
months. The distribution of tourist development tax dollars is set according to Collier County
ordinance. The funds are dispersed as follows; beach related projects with 42.56% of the total
Tourist Tax, tourism promotion with 47.85%, and museums with 9.59. Of the 42.56% for beach
related projects, 3.58% is allocated for beach park facilities and the remaining 39.98% is used for
nourishment, pass & inlet management. Of the 47.85% for tourism promotion, 33.57% is used for
destination promotion and administration and the remaining 14.28% is used for amateur sports
complex/debt. Lastly, of the 9.59% allocated for museums, 7.68% is used for county museum
operations, and the remaining 1.91 % is used for non -county museum grants.
New Development: A relatively new town is developing in the eastern part of Collier County
known as Ave Maria. The town is located on what was once largely agricultural land is centered
around Ave Maria University, the country's newest Catholic University. The university opened its
doors in 2007 and currently has about 1,120 students, including 35 in graduate programs. The
school has plans to keep growing and ultimately incorporate around 5,500 more undergraduate
and graduate students. The town is designed to be a compact, walk -able, self-sustaining town
that reflects the community's rural roots while offering a full range of residential options and
commercial services to its residents. The Ave Maria community totals about 5,000 acres, of which
15
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
nearly 20% has designated as the University Campus. A Town Core anchored by the landmark
oratory that also incorporates retail, commercial, and residential living space provides a central
connection between the town and the university. Business is expanding in Collier County as
evidenced by a surgical device company that recently opened its doors on a site near Ave Maria
University in the form of a $25 million manufacturing plant. This construction brought 500
construction jobs to the area and currently employs around 350 workers, with more being added
all the time. Ave Maria has experienced a sever mosquito problem and as a result they have been
sprayed more than 30 times by very safe pesticides in 2015 making it the most sprayed area in
southwest Florida.
A new town has also been proposed in Eastern Collier County. Collier Enterprises got the
Rivergrass project through the Collier County Commission on January 28t", allowing them to begin
planning to develop a 1,000-acre township in Eastern Collier County. The plans are currently being
stalled as the project's impact on approximately 700 acres of primary panther habitat is being
heavily opposed by wildlife organizations such as the Conservancy among many others.
Employment & Income: The most recently reported median household income for Collier County
is at $70,600. From January 2010 until March 2020, Collier County had experienced downward
trends in unemployment getting as low as almost 3%. Then in April 2020 we began to feel the
effects of COVID-19, and Unemployment jumped to 13.4% from 4% the month prior.
Unemployment continued to hang around 10% for the next few months. Collier County's
unemployment rate rose from 3.0 percent in October 2019 to 5.0 percent in September 2020 and
to 5.1 percent in October 2020. The overall trend of unemployment has been trending downward.
Collier County's largest employment concentrations continue to be in industries that are fueled by
population growth. The Real Estate and Rental and Leasing Industry leads the pack with 25,200
industry jobs. Retail trade is in second with 25,071. Accommodation and Food Services is just
behind with 24,833. The rest of the top ten, in descending order are as follows: 24,318 / 22,261 /
16,044 / 14,710 / 14,636 / 13,049 / 12,934.
16
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Below is a breakdown of the large5t industries in Collier County.
Deal Estate and Rental and
1 -k!HSiI liq
Retail rr;ipde
Aecommodatlon and Food
Sorvioer.
HW1r1 Careana 5oclal
AssWonce
C4nsu CkM
Administrativo a and 5uppaat a...
OtherSeMces [exc-ept Public
A3ninndraiian}
Government
Professional, and
Technical 5ervites �
i-Inenco end Ingiramo W
i
Major employers in Collier County include NCH Healthcare System with 7,017 employees, Collier
County School District with 5,604 employees, and Collier County Local Government with 5,119
employees. As the Collier County population matures, employment in the healthcare industry will
continue to make up a larger part of overall employment. Collier's top employers are listed below.
Rank
Company Name
Employment
i
NCH Healthcare System**
7,017
2
Collier County Schaal District
5,604
3
Collier County Local Government*
5,119
4
Publix Super Market
3,083
5
Arthrex, Inc.**
2,500
6
Walmart
1,480
7
Ritz Carlton -Naples
1,450
8
City of Naples
1,169
9
Physicians Regional
950
10
Mooring Park
SSS
Taxes: Florida is one of the few remaining states without a personal income tax. The absence of
personal income taxes draws many people to Florida. Businesses enjoy additional incentive of
17
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
low corporate income taxes. The Florida's tax rate of 6% is one of the lowest in the U.S. and far
below the 12% levied by some states. The largest share of households in Collier County pay
$3,000+ in property taxes.
The Florida statutes provide for the annual assessment and collection of property taxes on real
and personal property. Property taxes are assessed and collected at the county level as revenue
for counties, municipalities, school districts and special taxing districts. The tax rate is set by the
taxing authority. One mill is equal to $1 per $1,000 of property value. The total just value for all
real estate property types in Collier County for 2018 was $112,272,221,732.
Prices: A price index is a tool that simplifies the measurement of price movements in a numerical
series. Movements are measured with respect to the base period, when the index is set to 100.
Our current cost of living index in Collier County is 113.4 meaning that generally speaking the cost
of living is more expensive in Collier County than the average cost of living throughout the United
States. Furthermore, Groceries are at 107.7, Housing is at 143 which is high, but down from 175 in
December of 2016, and Health is at 101 and below you can see the rest of the table and how it
compares to the United States.
Overall
113.4
102,8
100
Grocery
107.7
102,8
100
Health
101
98
100
Housing
143
102.6
100
Median Home Cost
330600
$237,100
$231,20D
Utilities
88.6
1013
100
Transportation
88.6
112,6
100
Miscellaneous
108.3
9.6 q
100
Banking/Interest Rates/Financing: As of December 21, 2021 the prime rate was reported at
3.25%. Approximately one year ago the prime rate was 3.25%. The federal discount rate is most
recently reported to be 0.25%; a year ago was 0.25%. The federal funds rate is 0.25 %, while a
year ago it was 0.25%. The 15-year refinance fixed-rate mortgage increased to 2.45% down 2
base points over the last week. The benchmark 30-year fixed-rate loans in this week's survey
18
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
included an average of 3.20% down 5 base points over the last week. The five-year adjustable
arm rate was at 2.69%. Please see table below.
Prime rate, federal funds rate, COFI
-o=TED: '==''2C21
THIS WEEK
MONTH AGO
YEAR AGO
WSJ Prime Rate
3.25
3.25
3.25
Federal Discount Rate
0.25
0.25
0.25
Fed Funds Rate (Current target rate acO-0.25)
0.25
0.25
0.25
11th District Cost of Funds
0.23
0.23
0.50
Financing both commercial and residential properties became difficult during the downturn in the
economy. Financing for vacant land is the most difficult. Vacant land is currently being purchased
by investors with cash and expectation of longer holding periods. Generally financing of improved
properties requires loans of 60%-75% of commercial properties and 90%-95% financing available
for residential properties.
Real Estate and Housing: Collier County was spared from the national economic downturn
(2007-2009). Collier County experienced a significant increase in residential and commercial
property values from 2004 through 2006. Several news publications rated Naples as the most
over -valued area of the country with respect to residential housing values. The decline in
residential property values began in 2006. Inventory levels began to rise as investors and owners
positioned themselves to sell at a significant profit. However, buyers were reluctant to purchase
any property with a sense that the economy as a whole was headed for trouble. Many investors
were not able to meet their carrying costs and properties went into foreclosure. Southwest Florida
became the epicenter for residential property foreclosures with communities such as Golden Gate
at the forefront of the crisis in Collier County.
Residential construction projects in various stages of development were stopped as housing
inventories continued to rise and prices began to fall significantly. Southwest Florida thrived on the
residential construction industry; and with no homes to build, this industry was quickly decimated.
Contractors that supplied this industry typically ran their businesses from various industrial
locations in Collier and Lee Counties. This type of property was the first commercial property to be
adversely affected with retail and office properties following.
19
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
There are 24+/- industrial parks and parks of commerce located throughout Collier County. Each
park is proximate to Interstate-75 for connection to major air transportation and water ports. Collier
County's zoning allows the flexibility of properties of 19 acres or more to be zoned as Research
and Technology Parks, which are based on commerce parks and offer advanced infrastructure to
attract technology -based businesses.
Real estate indicators continued to be a bright spot for the region. Single-family building permits for
the coastal counties improved 64 percent from August 2020 to August 2021. Single-family home
sales slipped 5 percent in August 2021 over August 2020, but median prices for all three counties
rose between 21 to 28 percent during the same period. Realtor® Active listings for the coastal
counties were down in August 2021, falling 67 percent from August 2020. Steady increase in
discretionary spending associated with supply -chain disruptions have create some inflationary
pressure across the country and the region.
Single family permits identify houses under construction and therefore reflect jobs in the
construction industry. The data continue to show that, while the COVID-19 pandemic has had
deleterious effects on the economy of Southwest Florida, there appears to be some optimism for
the future based upon the single-family building permit data of the last few months. In Collier
County, 330 permits were issued in October 2021, a decrease of 22 permits (6 percent) from
October 2020, but up 112 permits (51 percent) from September 2021 (see Chart 15)
Llnart 15, Sinsle-Family Huildine Permits for Collier L
450
400
350
250
w
200
k 150
100
50
0
Single Family Permits Issued -Collier County
2.011.2020 Monthly Averages, Most Recent 13 Months Data and Trend
a A
f Permits
— — — Linear Trend
c a a( cC aK r aK a a aK G
PAM M"M
r+l N fV N 54 r+l C^1 N
Source: Collier Counly &m%th Management Department, indudes uninEMporated Collier County permits only
20
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Collier County single-family home sales registered 475 units in October 2021, a decrease of 192
units (29 percent) compared to October 2020. The median price in Collier County rose
substantially by $90 thousand from $560,000 in October 2020 to $650,000 in October 2021 (see
Chart 18).
Chart 18: Existine Sinele-Family Home Sales for Collier Count
1000
900
Collier County Existing Single Family Home Sales by Realtors@
$700
$B00
S00
700
$500
rd
E sOG
$400 s
o
�
500
$300
�
a
E 3oa
$200
Collier Homes Sold
3
2
nx
2K
Collier Median Sale Price
—Homes Sand Trendline
$100 n
1G2
— — - Sale Price Trendline
G
so
Sou rre_ F lorida Realbors• Naples lmmnkalee-Marro Island, Florida MSA
Transportation: The infrastructure of the county continues to see improvements. Interstate 75
has been widened to six lanes from Fort Myers to Golden Gate Parkway in Naples. The County
recently widened several major corridors such as Immokalee Road, Collier Boulevard, Rattlesnake
Hammock Road and Goodlette-Frank Road. East Naples was not overlooked, with road widening
projects along Collier Boulevard, Santa Barbara Boulevard and Radio Road. Major north south
roads are: US 41, Interstate 75, Airport Pulling Road and Livingston Parkway. The Collier County
Government has worked diligently to develop an efficient road system that will accommodate
future growth; and it is likely to continue to develop the necessary road infrastructure in the years
to come.
Southwest Florida International Airport (RSW) in Fort Myers, Florida satisfies the passenger traffic
needs for the fast-growing population of Southwest Florida. RSW is the eighth fastest growing
airport in the nation, servicing more than 8 million passengers a year. More than two dozen
commercial airlines currently serve Southwest Florida Regional Airport with non-stop service to
more than 27 domestic and two international destinations. The Southwest Florida International
Airport also maintains customs clearing facilities for international cargo. RSW is located off
21
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Interstate-75 in South Lee County, an approximate 30-minute drive from most areas of Naples. In
2005 the airport was completely updated and expanded to meet the growing demand of area
businesses and visitors. The $386 million ultra -modern complex includes a two-story terminal with
28 aircraft gates along three concourses, a new taxiway, and new parking options that includes a
three-story parking structure. The facility will allow for incremental expansion up to 65 gates.
Construction was recently completed on a direct access connection between 1-75 and the airport.
Peak seasonal activity usually occurs in February, March, and April, with significantly lower activity
in the summer months. While all three airports continue to improve from the dip in passenger
activity experienced in April 2020, a complete recovery to pre -pandemic levels is not anticipated in
the short-term. After the large decrease in activity observed in March and April 2020, the charts
better reflect the historic seasonal pattern, albeit at a reduced level. Passenger traffic at RSW was
769,524 in October 2021, up 40 percent from September 2021 and 84 percent greater than
October 2020 (see Chart 1).
Chart 1: SW Florida International Passenger Activity
SW Florida International Airport (RSM Passenger Activity
t, fi0ik
H t,d0a 2019
t,20a '20
J< P
~ t,PO4 201a
aoa
ya
p 600 7071
400
E 206
a 1
0
Jan Fec Mar Apr May Jun Sul Aug Sep Oct Hav Oec
Source- Loral Airport Authorities
The Naples Municipal Airport is a fully certificated air carrier airport. The airport also provides FBO
services for general aviation including fueling and catering. It is the home to charter airlines,
aircraft maintenance facilities, a restaurant, fire/rescue services, mosquito control, car rental
agencies, the Collier County Sheriff's Aviation Unit, flight schools, the Humane Society, and over
40 additional aviation and non -aviation businesses. The airport encompasses approximately 732
acres of land, approximately two miles northeast of Old Naples with convenient access to major
roads and Interstate-75.
22
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
POLITICAL -GOVERNMENTAL FACTORS
The county government is headed by a Board of Commissioners. There are five commissioners,
each assigned to a specific geographical area within the county. A County Manager coordinates
most of the departments including county services, public services, community
development/environmental services, utilities and transportation. The county is currently
experiencing a decline in revenues which will result in future capital improvement plans being
significantly cut back. Additionally, operating expenses are under increasing pressures due to
legislative mandates from the state, escalating costs of property insurance and health benefits,
and the overall economic downturn.
Collier County has experienced an increase of 1.09% in budget between FY 2019 and FY 2020.
The FY 2020 total net county budget is now $26,249,500.
(:merit Fund Supported [:dp"I
Ca
EN 16 Budget
F1 17 Budget
F l' 19 Budget
F1' 19 Budget
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$1,070_(M
$7,595,70D
S I,1000M
$1,100,000
$? l00_llfli)
trans ortatlanCap [al
$I4,559_liofl
$11,650,400
W_;5iAw
S9*50'Kw
S[umI-water Ca ual
51.549.6(W
$1,627.D0U
S2__0WXPI
S3.5a1.U0U
-otfil
$32,770.(H10
S29.1i;1,700
532,69&90U
524,177JM
S26,249 RO
1$2,127,0010 = $1 m SAP; $800k r plr sh makes: balaxuc v. nvntrr nYamtenanCe $3271t rua Sarm r LN)AIL
Education: The Collier County public school system currently contains a total of 58 schools with
48,000 students and 3,200 teachers. Collier County averages 2,700 graduates per year. The
below chart shows more detail with regards to the public -school system.
23
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
2,300
1150
m
S4 1! millire,
1fi j— 4-
*'Ade �auis
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Collier County is home to several colleges and universities. As mentioned, Ave Maria University is
a newly established Catholic University offering liberal arts -oriented baccalaureate degrees as well
as some graduate degree programs. The county is also home to branch campuses of Florida
Southwestern State College and Florida Gulf Coast University.
Collier County has a high level of education attainment compared to other counties in Florida and
compared. Collier County has 32% of their people attain a bachelor's degree of higher compared
to 27% in Florida and 29% in the United States. Only 14% of those within Collier County have less
than a high school education.
Figure 7: Collier County, FL Education Attainment by L—el Comparison (Age 25+)
No schooling = Less than High School � High School or GED So Ilege or Associates Deg r=_a
Be ohel, Degree or higher
100%
75% ■ . of
NONE
50%
25%
t+a�� GO"
�BG� ��'6"oStiai �(0 � � La�1ik of � .•• � cpjlci� 'Po
w6
G G�QacO- CPS ��� c0 rp,1a� cow
6,e �
SOCIOLOGICAL FACTORS
Recreation: Collier County offers a vast variety of natural and historical attractions. Places to visit
include the 52-acre Naples Zoo, Collier County Museum, Big Cypress National Preserve, Museum
of the Everglades, Naples Botanical Gardens and many other reserves, museums, zoos, etc.
24
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Healthcare: Within Collier County there is the Naples Community Hospital, North Collier Hospital,
Regional Heart Institute, NCH Wellness Centers and other various clinics. Being the largest county
in Florida with a total area of 2,305 square miles its medical facilities manage to cover it all.
Helicopter usage cuts critical minutes from transport time. 83.5% of those within Collier County
have health insurance compared to 86.5% throughout Florida and 90.6% throughout the United
States. The highest percentage of those without healthcare coverage from people making $25,000
and less at 25.6% not covered by insurance.
Figure 1: Percent of People with Health Insurance
Hendry County
Glades County
Monroe County
Collier County
Brow,ard County
Lee County
Compare: Florida
Compare: Orlando -De ltona-
Daytona Beach
Charlotte County
Compare: United States
090 50 % 100%
Figure 8: Percent of People with No Insurance by Income Group
3C%
2C9<:
10%
0%
Under $25k $50k $75k Over
525k to to to $100k
Wk $75k $100k
SUMMARY
Collier County is located along the west coast of Florida along the Gulf of Mexico. The climate is
sub -tropical with mild winters that allow for year-round enjoyment of the many attractions this area
offers. Collier County is a desirable destination for residents and non-residents alike. In spite of
the many positives, portions of Collier County were greatly affected by the past housing debacle
which resulted in a significant number of residential foreclosures, trends have been positive in
most recent years though. While the current "improving" economic climate will keep commercial
and residential development at bay in the short term, the availability of commercial vacant land, the
county's numerous natural attractions, and the anticipated future population growth will bode well
for this area over the long term.
Collier County is considered to be a wonderful place to live. There are tremendous opportunities
as far as employment is concerned in many different industries. The diversity of job opportunities
spans a significant range from low-income persons to jobs of very high -income people as well.
There are tremendous recreational facilities with numerous golf course, beaches and recreational
parks, not to mention the significant amount of land that is federally held in conservation in the
25
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
eastern portions of the county. The public -school system is good and provides for a well-rounded
public education for the students that reside within the county.
We invite your attention to the location map, which shows the relative location of the subject
property in Naples.
26
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Location Map
Cnglewood
Port Charlotte �J
�1e Punta Gorda
Babcock
Ranch
Preserve
Boca.Granda LaBelh
;� -01
Fort Myers Lehigh Acres
Cape Coral sD
Captiva UZ Felda
Fort Myers
aEstero
Ind an Ic m
Lakeport Pc•r' Mayaca
Palmdale _ '. Ju `Ilan
21
4a Wrldllfe
.Canal Point Managarfienl �-'� Palm Gear
Moore Haven Pahokee Area Gardens
ra
0 Clewiston West
zS Belle Glade Bea
Montura
Imnnokaiee
Bonita Springs
Ave Maria
l4
North Naples
Naples
SUBJECT
? i
Big Cypress
Naliorlal
❑Preserve
a
Marco Is!and
Everglades S.
city
27
Boynton
{`a Beach
Delray Beach
i
Boca Raton
D
C) Pompano
Beach
Everglades
Fort
and Frarrcis
Fes+ Lauderdale'
S. Taylor
Wildlife...
Hollywood
I Q
Hialeah
`L' Miami
ED
a
c
T
a
m
Biscayne
Homestead
National Park
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Market Area Map
C 3RKSCREW
2�
Harker
Ave Maria
eyards SUBJECT
GGIden ale
Lo1v
Lely Re, rt
r
� Copeland
Marc❑ Island
Gcod':and
Market Area Description: Market area is defined as "The geographic or locational delineation of
the market for a specific category of real estate, i.e., the area in which alternative, similar
properties effectively compete with the subject property in the minds of probable, potential
purchasers and users."
28
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Market Area:
Boundaries: Northern Immokalee Road
Southern US 41
Eastern SR 29
Western Interstate Highway 75
Life Stage: "Because market areas are perceived, organized, constructed, and used
by people, each has a dynamic quality. Appraisers describe this quality
as a market area's life cycle. The complimentary land uses that make up
neighborhoods and homogeneous land uses within districts typically
evolve through four stages:
• 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" 2
It is our opinion that the subject market area is currently in the growth
cycle. Recently the market has shown increased activity. Sales and
permit activity for commercial and residential construction have been
increasing.
Public Transportation:
Public transportation is provided by Collier Transit
Maintenance/Condition:
The majority of improvements are well maintained and in good condition.
Property Compatibility:
There is an established retail, commercial, retail and office area along
Airport Pulling Road, Immokalee Road, Pine Ridge Road, Vanderbilt
Beach Road, and Tamiami Trail (US-41). Due to the high traffic counts in
this area, retail uses include shopping centers, restaurants, and various
other single -tenant retailers. Supporting residential abounds along
secondary roadways and land uses are primarily single-family residential
or multifamily. Generally speaking, agricultural and rural residential use is
located east of Interstate Highway 75.
Appeal/Appearance:
This area has strong appeal. Appearance ranges from mostly newer
construction and some older structures with generally good to average
appearance.
Neighborhood Access:
Good access exists from major north -south corridors including Collier
Boulevard, Goodlette Frank Road, Livingstone Road, Airport Pulling
Road, US-41 (Tamiami Trail), and 1-75.
The major east -west corridors include Golden Gate Boulevard,
Vanderbilt Beach Road, Pine Ridge Road, and Immokalee Road.
Police/Fire:
Police: Collier County Sheriff / Fire -rescue: Collier County
2 The Appraisal of Real Estate, Fourteenth Edition, , The Appraisal Institute, Chicago, Illinois (U.S., 2014)
29
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Development Potential: There is residential, agricultural, and commercial zoned vacant land
available in the market area. Most exists is to the east portion of the
market area. Future commercial development will be seen mainly along
US-41, Airport -Pulling Road, Vanderbilt Beach Road, Immokalee Road
and Collier Boulevard. Agricultural properties being subdivided into
smaller rural residential parcels.
Development Trend: Residential and commercial properties have had decreasing vacancies
and increasing lease rates. Brokers estimate continued improvement in
this area that could lead to new development in the near future.
Characteristics of Land Immediate properties in the subject market are mostly agricultural and
Usage: residential uses.
Supply of Vacant Tracts: Vacant land is available in the market.
Demand for Vacant Tracts: The supply appears to be in balance with demand at this time.
Neighboring Property Uses: Residential, both single and multi -family, general business, office, retail
and agricultural uses.
Allowable Uses in the Residential both single and multi -family, general business, office, retail,
District: agricultural and governmental uses.
Vacancy rates: Commercial/Agricultural: 2% - 5%
Single Family: 3% - 8%
Naples Economy Q3-2021 (Costar Summary)
While the pandemic caused significant economic disruption in Naples, the market saw
employment rebound sharply beginning in late 2020. While the pace of rehiring has slowed in
2021, the total workforce has improved to nearly 96% of pre -pandemic levels. Prior to the
coronavirus outbreak, Naples had strong economic momentum and appears poised to quickly
recapture that prior momentum once the virus is contained.
Tourism drives much of the Naples metropolitan area's economy, with leisure and hospitality
composing almost 20% of the workforce. This sector, along with retail trade, has been more
exposed to impacts from the ongoing crisis. Naples has nearly 35% of its entire workforce in these
high -risk sectors, the third -highest proportion in Florida. Prior to the pandemic, the market enjoyed
accelerating tourism. In 2019, the Naples metropolitan region's visitor count was up nearly 6%
annually, while 2018 saw tourism grow by nearly 3% over the prior year. While 2020 saw tourism
ultimately downshift, 2021 should enjoy numbers more in line with the prior trend.
The Naples metropolitan area includes the entirety of Collier County with significant population
nodes in Naples, Immokalee, and Marco Island. The market has experienced among the nation's
30
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
strongest population and job growth rates over the past five years. While the overall rate of jobs
added over the year prior to the pandemic had slowed to under 3%, Naples still posted growth
rates of roughly double the national average.
The employment slowdown was divided across most sectors, though the overall losses were also
weighed down by somewhat deeper job losses than the national average in information, finance
and insurance, and management. Naples has also seen significant cooling growth rates, though
still net positive job additions, in both sectors of transportation and warehousing, and construction.
These two industries were among the two strongest employment sectors for the market over the
prior year.
Office -using employment had also slowed to under 2% annual growth, though remained one of
Naples' better -performing areas. In particular, real estate hiring posted an exceptionally strong
prior year, growing over 10%. The real estate sector, by itself, was strong enough to offset the
losses in information, finance, and management.
The unemployment rate had slightly risen in the months leading up to the coronavirus pandemic.
However, unemployment was still tight from a national perspective and had remained well below
the national average, which before the crisis sat at a 50-year-low. The slightly loosening market
was likely more a reflection of the limited available jobs to meet labor force growth.
Naples is one of the older markets in the nation, reflecting its status as a premier retiree
destination. This skews demand for senior housing, assisted living, and medical office space much
higher than a typical U.S. market. The older demographic also drives up the region's affluence and
median incomes, both of which are among the highest in Florida.
Interview with market participants: The appraiser was able to speak via phone conversations
with real estate brokers who are knowledgeable of the market area. These individuals were
contacted to verify sales prices and asking prices of surrounding properties similar to the subject.
Specific names and phone numbers of the individuals contacted were found by using the services
of LoopNet and CoStar and MLS. For the benefit of the reader, we have listed the names, contact
information on the sales exhibits found later in this report.
Legal Description: The legal description of the subject was obtained from the most recent deed
on file with Collier County Property Appraiser's Office (OR 3815-671) and displayed as follows:
Nest 1801 of Tract 121, Unit 91A; 61ds n Gate Estates, according to plat thereof
recorded in Plat Book 9, Page 9, of/the Public Reeords of Collier County, Florida.
31
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Owner of Record: According to information obtained from the Collier County Property
Appraiser's office and the Collier County Tax Collector's office, the current owner of record for the
subject property is listed as follows:
Arias, Eladio R. and Ailvia M. Arias
2356 SW 125th Ave
Miramar, Florida 33027-2636
Assessed Value and Taxes: According to the Collier County Tax Collector's Office the subject
property is identified by its Parcel Number 41560080008. For the tax year of 2021 the subject
property had combined assessed values of $19,042 at a millage rate of 11.4183 resulting in an
annual tax burden of $238.90. Please note the 2019-2021 tax analysis in tabular form that follows.
The tax summary chart represents resents a summary of the assessed values, taxable values, ad
valorem taxes, non -ad valorem taxes and millage rates.
Assessed Value and Tax Summary
41560080008
Year Market
Taxable Value
Millage Rate
Tax Liability
Total
Assessed Value
Ad Valorem
Non -Ad Valorem Tax Liability
2021 $19,042
$19,042
11.4183
$238.90
$0.00
$238.90
2020 $17,311
$17,311
11.3084
$226.49
$0.00
$226.49
2019 $15,737
$15,737
11.3901
$218.38
$0.00
$218.38
Delinquent Taxes: According to information obtained from the Collier County Tax Collector's
office there are no delinquent or outstanding taxes on the subject property.
Site Description: We invite your attention to the following aerial plat map which shows the relative
size, configuration and location of the subject property. This will be followed by a plat map which
also shows the same information. This will be followed by general site information and data as
well as information on the physical characteristics and economic factors that affect this property.
32
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Subject Aerial Map
Plat Map
330
105
75
150
150
dQ
ST
9�
144
m
i N
W
330,03
7g0
750
150
180
33
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
General Site Information
Address: Unassigned, North of 1-75, Naples, Florida 34117
Parcel Number: 41560080008
Physical Characteristics of the Site
Frontage: The subject property has no frontage along any roadways.
Total Site Area: 3.79 acres or 165,092 square feet per the Collier County Property
Appraiser records. We were not provided with a site survey.
Shape of Tract: Rectangular
Access: The subject site has no access from any roadway or trail that was
visible during inspection.
Corner Influence: This property not located on a corner.
Utilities to Site: No utilities were observed at the time of inspection.
Flood Designation: Flood Zone Code AH, Flood Zone Panel 120067-12021 C0445H,
Dated May 16, 2012. See Flood Map in addenda.
Easements: Typical utility easements are assumed to exist
Site Improvements: The site has no improvements.
Topography: The subject parcel is fully wooded with brush ground covering.
According to the National Wetlands Inventory Map the site is 100%
Forested/Shrub Wetlands. Additionally, an FDEP informal wetland
determination map that was provided by the client indicates the
property is 100% hydric depressional and slough soils with the
majority being slough. The USDA Web Soil Survey Map shows
92.6% Brynwood Cypress Lake fine sand, 3.6% Brynwood fine
sand -urban land complex fine sands and 3.9% Cypress Lake
Ribiera Copeland fine sands present for the subject. Due to the
wetlands indicated on the subject property, an Environmental
Resource Permit from the Florida Department of Environmental
Protection would be required for any activities involving the
altercation of surface water flows, however, an official
determination has not been made.
Economic Factors Affecting the Site
Supply of Vacant Tracts: There is an adequate number of vacant residential/agricultural
zoned and residential/agricultural permissible sites located within
the immediate and general vicinity of the subject property.
Demand for Vacant Tracts: Supply and demand appear to be in -line with each other, although
demand has been improving recently.
34
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Neighboring Property Uses: Properties located in the immediate area consist of limited semi -
rural residential uses. Zoning allows for a maximum of one
development unit per 2.25 gross acres
Land Use Designation: Estates
Zoning Classification: E-Estates
Allowable Uses in the Allowable uses in the district will be discussed in detail in the
District: following comprehensive land use plan classification discussion
and zoning discussion. In addition, they will be considered in the
highest and best use analysis for the property.
National Wetlands Inventory: The subject is located in a Freshwater Forested/Shrub Wetland
habitat classified as PF01 Cd. Map is displayed below.
System Palustrine (P): The Palustrine System includes all nontidal wetlands dominated
by trees, shrubs, persistent emergents, emergent mosses or lichens, and all such
wetlands that occur in tidal areas where salinity due to ocean -derived salts is below 0.5
ppt. It also includes wetlands lacking such vegetation, but with all of the following four
characteristics: (1) area less than 8 ha (20 acres); (2) active wave -formed or bedrock
shoreline features lacking; (3) water depth in the deepest part of basin less than 2.5 m (8.2
ft) at low water; and (4) salinity due to ocean -derived salts less than 0.5 ppt.
Class Forested (FO): Characterized by woody vegetation that is 6 m tall or taller.
Split Subclass Broad -Leaved Deciduous (1) : Woody angiosperms (trees or shrubs)
with relatively wide, flat leaves that are shed during the cold or dry season; e.g., black
ash (Fraxinus nigra).
35
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Water Regime Seasonally Flooded (C) : Surface water is present for extended
periods especially early in the growing season, but is absent by the end of the growing
season in most years. The water table after flooding ceases is variable, extending
from saturated to the surface to a water table well below the ground surface.
Special Modifier Partially Drained/Ditched (d) : A partly drained wetland has been
altered hydrologically, but soil moisture is still sufficient to support hydrophytes.
Drained areas that can no longer support hydrophytes are not considered wetland.
This Modifier is also used to identify wetlands containing, or connected to, ditches.
The Partly Drained/Ditched Modifier can be applied even if the ditches are too small to
delineate. The Excavated Modifier should be used to identify ditches that are large
enough to delineate as separate features; however, the Partly Drained/Ditched
Modifier also should be applied to the wetland area affected by the ditching.
Comprehensive Land Use Plan Classification: According to information obtained from the
Collier County Planning Development department, the subject site has a comprehensive land
use plan classification known as Estates.
ESTATES DESIGNATION
The Estates Land Use Designation is characterized by low density semi -rural residential lots with
limited opportunities for other land uses. Typical lots are 2.25 acres in size. However, there are
some legal non -conforming lots as small as 1.14 acres. Residential density is limited to a
maximum of one unit per 2.25 gross acres, or one unit per legal non -conforming lot of record,
exclusive of guesthouses. Multiple family dwelling units, duplexes, and other structures containing
two or more principal dwellings, are prohibited in all Districts and Subdistricts in this Designation.
Generally, the Estates Designation also accommodates future non-residential uses, including:
• Conditional uses and essential services as defined in the Land Development Code, except as
prohibited in the Neighborhood Center Subdistrict. Also, refer to the Conditional Uses Subdistrict.
• Parks, open space and recreational uses.
• Group Housing shall be permitted subject to the definitions and regulations as outlined in the
Collier County Land Development Code (Ordinance No. 04-41, adopted June 22, 2004, effective
October 18, 2004) and consistent with locational requirements in Florida Statutes (Chapter
419.001 F.S.).
36
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
• Schools and school facilities in the Estates Designation north of 1-75, and where feasible and
mutually acceptable, co -locate schools with other public facilities, such as parks, libraries and
community centers to the extent possible.
Group Housing includes the following type facilities:
• Family Care Facility if occupied by not more than six (6) persons shall be permitted in
residential areas.
• Group Care Facility,
• Care Units,
• Adult Congregate Living Facilities, and
• Nursing Homes.
All of the above uses shall be consistent with all of the Goals, Objectives and Policies of the
Golden Gate Area Master Plan.
Zoning Classification: Estates District (E).
The purpose and intent of the Estates Zoning District (E)* is to provide lands for low density
residential development in a semi -rural to rural environment, with limited agricultural activities.
In addition to low density residential density with limited agricultural activities, the E district is
also designed to accommodate as Conditional Uses, Development that provides services for
and is compatible with the low density residential, semi -rural and rural character of the E
district. The E district corresponds to and implements the estate land use designation on the
future land use map of the Collier County GMP, although, in limited instances, it may occur
outside of the estates land use designation. The maximum density permissible in the E
district shall be consistent with and not exceed the density permissible or permitted under the
estates district of the future land use element of the Collier County GMP or as provided under
the Golden Gate Master Plan. Permitted uses include:
1.Single-family dwelling.
2.Family care facilities, subject to section 5.05.04.
3.Essential services, as set forth in section 2.01.03.
4.Educational plants, as an essential service.
37
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Subject Property Photographs
View: Looking
west along 40" Ave
SE viewpoint.
Photograph date:
August 1, 2022
Taken by: Hannah
Dwyer
View: Looking east
along 40' Ave SE
viewpoint.
Photograph date:
August 1, 2022
Taken by: Hannah
Dwyer
38
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Subject Property Photographs
View: Looking
southeast from
viewpoint on 40'
Ave SE. Subject
about 710'
southeast.
Photograph date:
August 1, 2022
Taken by: Hannah
Dwyer
39
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
Sec16
tion 4 -Highest and Best Use Analysis
The principal of highest and best use is defined 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."
The four criteria the highest and best use must meet are legal permissibility, physical possibility,
financial feasibility, and maximum profitability.
• Permissible Use (Legal) - what uses are permitted by zoning and deed restrictions on the
site in question?
• Possible Use- to what uses is it physically possible to put the site in question?
• Feasible Use-, which possible and permissible uses will produce any net return to the
owner of the site?
• Highest and best Use- among the feasible uses, which use will produce the highest net
return or the highest present worth?
HIGHEST AND BEST USE AS VACANT
Legally Permissible Use: Factors that impact the legally permissible uses for the subject property
include such things as the comprehensive land use plan classification, zoning classification, deed
restrictions and government regulations. No specific deed restrictions are known relating to the
property. The subject has a comprehensive land use plan classification of Estates and is zoned (E)
Estates. Some of the uses permitted include; Low -density residential with limited agriculture,
including, but not limited to: single-family dwelling; fruit and vegetable growth for personal
consumption ; keeping fowl or poultry (max 25); educational plants as an essential service;
keeping horses and livestock (2/acre); recreational facilities that are an integral part of residential
development. Residential use is not to exceed 1-DU per/2.25-acres. Due to the wetlands indicated
on the subject property, an Environmental Resource Permit from the Florida Department of
Environmental Protection would be required for any activities involving the altercation of surface
water flows, however, an official determination has not been made.
Physically Possible Uses: The physical aspects of the subject impact legally permissible
development. The site has a rectangular configuration containing a total of 165,092 square feet
or 3.79 acres of site area. The property has no frontage of along any roadways with no visible
access. There are wetlands present on site and the property is fully wooded with brush covering.
40
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
This impacts developability and value for properties of this nature. Currently, no utilities were
present on site. The size of the parcel is sufficient to support low density residential use although
it would require an easement and development of a roadway for accessibility. The parcel would
better support a low density agricultural use.
Economically and Financially Feasible Uses: Typically, the highest and best use analysis is a
process to eliminate potential uses. In other words, once the uses that are legally permissible
have been determined, consideration of uses which are physically possible will tend to reduce
the legally permissible uses or reinforce them. Likewise, consideration of the economical and
financial aspects of a given property will tend to further refine the uses which have been
previously described as legally permissible and physically possible.
The physical characteristics of this property include vacant low density residential and agriculture
in the immediate area. There is an abundance of Estate zoned vacant land surrounding the
property. The most economic and financially feasible uses of the property would be for
development of the site as limited agriculture under the permitted uses.
Maximally Productive Uses: At this point in the highest and best use analysis, the analyst has
considered which uses are reasonably considered to be legal, physically possible as well as
economically and financially supported. The zoning and land use allow for a range of uses
including agricultural such as fruit and vegetable growth for personal consumption and low density
horse and livestock as well as low density residential.
Considering the near -by low density properties, it is our opinion that low density agricultural use
has the most development potential given the location and access of the property.
41
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Section 5 - Valuation of the Subject
VALUE ESTIMATE BY THE COST APPROACH
Cost Approach is defined as: "A set of procedures through which a value indication is derived for
the fee simple estate by estimating the current cost to construct a reproduction of (or replacement
for) the existing structure, including an entrepreneurial incentive or profit; deducting depreciation
from the total cost; and adding the estimated land value. Adjustments may then be made to the
indicated value of the fee simple estate in the subject property to reflect the value of the property
interest being appraised."
Since there are no improvements to consider, the cost approach will not be used in this appraisal.
VALUE ESTIMATE BY THE INCOME APPROACH
The Income Approach is defined as "A set of procedures through which an appraiser derives a
value indication for an income -producing property by converting its anticipated benefits (cash flows
and reversion) into property value. This conversion can be accomplished in two ways. One year's
income expectancy can be capitalized at a market -derived capitalization rate or at a capitalization
rate that reflects a specified income pattern, return on investment, and change in the value of the
investment. Alternatively, the annual cash flows for the holding period and the reversion can be
discounted at a specified yield rate."
The Income Approach is widely applied in appraising income -producing properties. Anticipated
future income and/or reversions are discounted to a present worth figure through the capitalization
process. Since vacant agricultural zoned land is typically not purchased for its ability to generate a
positive cash stream, the income approach is not used in this appraisal.
VALUE ESTIMATE BY THE SALES COMPARISON APPROACH
Sales Comparison Approach is defined as: 'A set of procedures in which a value indication is
derived by comparing the property being appraised to similar properties that have been sold
recently, then applying appropriate units of comparison and making adjustments to the sale prices
of the comparables based on the elements of comparison. The sales comparison approach may
be used to value improved properties, vacant land, or land being considered as though vacant; it is
42
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, N O R R I S & ASSOCIATES
the most common and preferred method of land valuation when an adequate supply of
comparable sales are available."
The Sales Comparison Approach involves the direct comparison of sales of similar properties,
adjustments for variances, and correlation of the results into a property value indication.
Adjustments to the sale prices of competitive properties selected for comparison are considered as
they relate to the subject property and to the various dissimilar investment features.
The application of this approach produces an estimate of value for a property by comparing it with
similar properties which have been sold or are currently offered for sale in the same or competing
areas.
The valuation of the subject site involves research, analysis, and comparison of sales of similar
properties to the subject. There are several units of comparison applicable for appraisal purposes.
Due to the nature of the subject property and comparable sales, it is our opinion the sales price per
square foot would be the most appropriate for utilization. This unit is calculated by dividing the
sale price of the comparable sales by the number of the square feet contained within the sale.
The subject site is being valued based on highest and best use; and as such, data selection
begins by limiting the sales considered to include only those sites with a highest and best use
similar to that of the subject. From these sales, only the most similar to the subject in terms of
physical and locational characteristics were selected. The appraiser's research uncovered multiple
sales of sites considered appropriate for comparison purposes. These transactions were included
in the analysis process.
In the analysis process, the analyst will utilize a quantitative procedure. In the initial step the
appraiser will utilize a cumulative adjustment for each of the sale properties considering property
rights, financing, conditions of sale, expenditures immediately after the sale and market conditions
(commonly known as time). As the adjustments are cumulative in nature, they must be performed
in the order in which they occur.
Next the analyst will utilize a quantitative procedure by considering physical characteristics
including location, site size, land use/zoning classification, utilities, access and site
condition/topography. After completion of the analysis and adjustment process, the appraiser will
estimate an appropriate value per square foot and multiply this by the number of square feet
43
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
contained within the property in order to estimate the market value for the site. This value estimate
will then be rounded to an appropriate figure for appraisal purposes
We now invite your attention to a land sales location map which follows. This map shows the
relative location of each of the comparables to that of the subject property. Following this will be a
land sales exhibit which will contain land sales data sheets for each transaction utilized in the
analysis process showing the relative size, configuration and location of the site as well as the
relative information for each individual sales transaction. Following the land sales exhibit will be a
summary chart showing the relevant information for the subject and each of the comparable sales
as well as the adjustments and factors which were considered in providing an overall rating for
each of the comparable properties.
The comparable sales map is displayed below.
COMPARABLE SALES MAP
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44
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
COMPARABLE 1
Property Reference:
Property Type:
Residential Acreage Vacant Land
Address:
3425 22nd Ave SE
Naples, FL 34117
County:
Collier
Location:
North side of 22nd Ave SE
STRAP/ID:
41221200004
Grantor:
PBR Builders Inc.
Grantee:
Danh Thanh Nguyen
Le_pal Data:
Sale Date:
July 29, 2022
Sale Price:
$55,000
Sale Price per Sq. Ft.:
$0.46
Sale Price per Acre:
$20,147
Recording:
I nstr.#6291608
Interest Conveyed:
Fee Simple
Deed Conveyed:
Warranty Deed
Land Use:
Estates Designation
Zoning:
E
Highest and Best Use:
Low density residential/agriculture
CNA Data # 2530
45
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Site Data:
Site Dimensions:
180' x 663'
Site Size:
118,919 square feet, 2.730 acres
Shape:
Rectangular
Topography:
Appears level and fully wooded
Corner/Visibility Influence:
No
Utilities:
Cable, Electric, Phone
Access:
From 22nd Ave SE
Wetlands/Uplands:
100% Wetlands
Soils:
None Adverse Apparent
Sale Analvsis:
Sale Price:
$55,000
Financing:
Cash to Seller
Price per SF:
$0.46
Price per Acre:
$20,147
Sale Confirmation:
Verification:
David De La Noval-Listing Agent, 239-682-6090
Verifying Appraiser:
Hannah Dwyer, August 10, 2022
Sale History:
9/23/20-$26,500
Comments:
This is the sale of a 2.73 acre vacant land parcel located off 22nd Ave Se in Naples. The
parcel was sold together with the adjacent 2.27 acre parcel for a total of $110,000. The 2.73
acre parcel accounted for $55,000 of the sale price. The site is determined to be 100%
wetlands according to an FDEP wetlands determination map and will require an ERP permit
to develop on the property. This was an arm's length transaction.
CNA Data #
2530
46
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
COMPARABLE 2
Property Reference:
Property Type:
Residential Acreage Vacant Land
Address:
26th Ave SE
Naples, FL 34117
County:
Collier
Location:
South side of 26th Ave SE
STRAP/ID:
41440600003
Grantor:
Paule Virzintaite
Grantee:
Gennaro Candela Jr.
Legal Data:
Sale Date:
July 27, 2022
Sale Price:
$95,000
Sale Price per Sq. Ft.:
$0.44
Sale Price per Acre:
$19,000
Recording:
Instr.#6293131
Interest Conveyed:
Fee Simple
Deed Conveyed:
Warranty Deed
Land Use:
Estates Designation
Zoning:
E
Highest and Best Use:
Low density residential/agriculture
CNA Data # 2529
47
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Site Data:
Site Dimensions:
329' x 662'
Site Size:
217,800 square feet, 5.000 acres
Shape:
Rectangular
Topography:
Appears level and fully wooded
Corner/Visibility Influence:
No
Utilities:
None
Access:
From 26th Ave SE
Wetlands/Uplands:
100% Wetlands
Soils:
None Adverse Apparent
Sale Analvsis:
Sale Price:
$95,000
Financing:
Cash to Seller
Price per SF:
$0.44
Price per Acre:
$19,000
Sale Confirmation:
Verification:
Yasmine S Awad- Listing Agent, 239-269-0501
Verifying Appraiser:
Hannah Dwyer, August 08, 2022
Sale History:
12/18/20-$59,000
Comments:
This is a vacant, fully wooded 5 acre land parcel located off 26th Ave SE in Naples. The
parcel is 100% wetlands according to an FDEP wetlands determination map. The parcel
would require an ERP permit in order to develop. There are no utilities available to the site at
the time of sale. The listing agent stated that this was an arm's length transaction at market
price. The property was on the market for about a month for $110,000 before going under
contract and selling for $95,000.
CNA Data #
2529
48
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
COMPARABLE 3
Property Reference:
Property Type:
Residential Acreage Vacant Land
Address:
3624 28th Ave SE
Naples, FL 34117
County:
Collier
Location:
South side of 28th Ave SE
STRAP/ID:
41393720001
Grantor:
ELAH Holdings Inc.
Grantee:
Joseph and Carol Perchal
Legal Data:
Sale Date:
June 06, 2022
Sale Price:
$71,728
Sale Price per Sq. Ft.:
$0.60
Sale Price per Acre:
$26,274
Recording:
Instr.#
Interest Conveyed:
Fee Simple
Deed Conveyed:
Warranty Deed
Land Use:
Estates Designation
Zoning:
E
Highest and Best Use:
Low density residential/agricultural
CNA Data # 2531
49
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Site Data:
Site Dimensions: 180' x 660'
Site Size: 118,919 square feet, 2.730 acres
Shape: Rectangular
Topography: Appears level and fully wooded
Corner/Visibility Influence: No
Utilities: None
Access: From 28th Ave SE
Wetlands/Uplands: 100% Wetlands (95% Slough)
Soils: None Adverse Apparent
Sale Analvsis:
Sale Price:
$71,728
Financing:
Cash to Seller
Price per SF:
$0.60
Price per Acre:
$26,274
Sale Confirmation:
Verification:
Erik Mogelvang-Listing Agent, 239-272-7774
Verifying Appraiser:
Hannah Dwyer, August 10, 2022
Sale History:
12/30/20-$79,200
Comments:
This is a 2.73 acre parcel located off 28th Ave SE. The parcel is fully wooded and
unimproved with no utilities to site. An FDEP Wetlands map indicates the parcel is 95%
Slough soils while the listing agent confirmed that the site is 100% wetlands. The site will
require an ERP permit to develop. The property previously sold together with another parcel
on 12/30/21 for $79,200. This was an arm's length transaction.
CNA Data #
2531
50
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
COMPARABLE 4
Property Reference:
Property Type:
Residential Acreage Vacant Land
Address:
40th Ave SE
Naples, FL 34117
County:
Collier
Location:
North side of 40th Ave SE
STRAP/ID:
41616360009
Grantor:
Roberta Miller
Grantee:
Katherine Delgado
Legal Data:
Sale Date:
September 16, 2021
Sale Price:
$56,000
Sale Price per Sq. Ft.:
$0.47
Sale Price per Acre:
$20,513
Recording:
Instr.#6131306
Interest Conveyed:
Fee Simple
Deed Conveyed:
Warranty Deed
Land Use:
Estates Designation
Zoning:
E
Highest and Best Use:
Low density residential/agriculture
CNA Data # 2532
51
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Site Data:
Site Dimensions: 180' x 663'
Site Size: 118,919 square feet, 2.730 acres
Shape: Rectangular
Topography: Appears level and fully wooded
Corner/Visibility Influence: No
Utilities: None
Access: From 40th Ave SE
Wetlands/Uplands: 99% Wetlands
Soils: None Adverse Apparent
Sale Analvsis:
Sale Price: $56,000
Financing: Cash to Seller
Price per SF: $0.47
Price per Acre: $20,513
Sale Confirmation:
Verification: Timothy Scott Summers -Listing Agent, 239-682-6178
Verifying Appraiser: Hannah Dwyer, August 08, 2022
Sale History: No sales in prior 3 years
Comments:
This is the sale of a vacant unimproved parcel located off 40th Ave SE in Naples. The parcel
is full wooded with no utilities to the site. An FDEP wetlands determination report indicated the
site is 99% wetlands and will require an ERP permit to develop the land. The listing agent
stated that this was an arms length transaction.
CNA Data #
2532
52
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
COMPARABLE 5
Property Reference:
Property Type:
Residential Acreage Vacant Land
Address:
34th Ave SE
Naples, FL 34117
County:
Collier
Location:
North side of 34th Ave SE
STRAP/ID:
41718760002
Grantor:
Elizabeth Hernandez Lopez
Grantee:
CT401, LLC
Le_pal Data:
Sale Date:
July 15, 2021
Sale Price:
$65,000
Sale Price per Sq. Ft.:
$0.55
Sale Price per Acre:
$23,810
Recording:
Instr.#6104419
Interest Conveyed:
Fee Simple
Deed Conveyed:
Warranty Deed
Land Use:
Estates Designation
Zoning:
E
Highest and Best Use:
Low density residential/agriculture
CNA Data # 2533
53
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Site Data:
Site Dimensions:
Site Size:
Shape:
Topography:
Corner/Visibility Influence:
Utilities:
Access:
Wetlands/Uplands:
Soils:
Sale Analysis:
Sale Price:
Financing:
Price per SF:
Price per Acre:
Sale Confirmation:
Verification:
Verifying Appraiser:
Sale History:
180' x 660'
118,919 square feet, 2.730 acres
Rectangular
Appears level and fully wooded
No
None
From 40th Ave SE
100% Wetlands
None Adverse Apparent
$65,000
Cash to Seller
$0.55
$23,810
Adriana Garcia -Guerrero -Listing Agent, 239-821-2970
Hannah Dwyer, August 10, 2022
No sales in prior 3 years
Comments:
This is the sale of vacant land located off 40th Ave SE in Naples. The parcel is fully wooded
with no utilities. The site is designated as 100% wetlands and will require an ERP permit to
develop the land. The property was on the market for about 2 months at a list price of
$85,000 before selling at $65,000. This was an arm's length transaction.
CNA Data #
2533
Please note the land sale adjustment grid that follows.
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In
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
Adjustment Analysis: The sales were compared to each other individually and collectively as
well as being compared to the subject property in order to assist in the adjustment process.
Property Rights: "An element of comparison in the sales comparison approach; comparable
sales can be adjusted for the effect of differences in the real property rights (fee simple, leased fee,
leasehold, easements, or other encumbrances, etc.) involved in the transactions being compared. "
In this analysis all property rights conveyed were fee simple, no adjustments were necessary.
Financing: "The manner in which a transaction was financed; an element of comparison in the
sales comparison approach whereby comparable properties can be adjusted for the influence of
differences between a transaction's financing terms and those assumed in the valuation of a
subject property." In this analysis all of the transactions were cash to the seller, no adjustments
were necessary.
Conditions of Sales: 'An element of comparison in the sales comparison approach; comparable
properties can be adjusted for differences in the motivations of either the buyer or a seller in a
transaction." In this analysis, the five sales are all "arm's length" transactions including no
conditions of sale.
Expenditures Immediately After Sale: "An element of comparison in the sales comparison
approach; comparable properties can be adjusted for any additional investment (e.g., curing
deferred maintenance) that the buyer needed to make immediately after purchase for the
properties to have similar utility to the subject property being valued." None of the five
comparables required expenditures immediately after sale; no adjustment for this factor was
required.
Market Conditions: "An element of comparison in the sales comparison approach; comparable
properties can be adjusted for differences in the points in the real estate cycle at which the
transactions occur. Sometimes called a time adjustment because the differences in dates of sale
are often compared, although the usage can be misleading because property values do not
change merely as the result of the passage of time. "
The sales transactions occurred between July 2021 (Sale 5) and July 2022 (Sale One). Realtors
familiar with this market area confirmed that both land and improved property values had been
increasing, especially in the subjects immediate neighborhood towards the end of 2021 and early
2022, but have leveled off in recent months. Sales One through Three occurred within the last
two months from the date of value and therefore did not require a market conditions adjustment.
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
Sales Four and Five occurred between eleven months to just over one year ago; a market
conditions adjustment of 8% was applied to these sales.
Physical Characteristics: Next the sales were considered and compared with one another and
the subject for physical characteristics. These include location, parcel size, land use classification,
zoning classification, utilities, access and site condition. The analyst will utilize a quantitative
procedure by considering percentage adjustments for physical differences in the sales properties
when compared to the subject. These adjustments will be made on a percentage basis with a net
adjustment being calculated and this being multiplied by the value per square foot to arrive at an
adjusted value per square foot.
Location Adjustment: The subject property is located between 401" Ave SE and 1-75 in Naples.
All of the sales are located within the same immediate neighborhood as the subject and in close
proximity. None of the sales required an adjustment in this category.
Size: The subject property contains 3.79 acres or 165,092 square feet. Sale Two required an
upward adjustment of 5% for being bigger (inferior) to the subject at 5 acres. Sales One, Three,
Four and Five required a downward adjustment of 10% for being smaller (superior) at 2.73 acres
each.
Land Use Classification: The subject property has a land use classification of Estates
Designation. All of the sales have the same land use designation as the subject and did not
require an adjustment.
Zoning Classification: The subject property is zoned (E) Estates District. All of the sales have
the same zoning as the subject and did not require an adjustment.
Utilities: The subject site currently has no utilities. This is the same for all of the comparables
aside from Sale One which has cable, electric and phone available. However, this does not
warrant an adjustment and therefore none of the comparable sales were adjusted for this factor.
Access: The subject property currently has no road access. All of the comparables have frontage
along a paved roadway with road access easements and were adjusted downward 15% for this
factor.
Topography/Site Condition: The subject is vacant, fully wooded with ground brush covering. All
of the sales are considered similar to the subject in this category.
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Wetlands: The subject is 100% Hydric Slough and Depressional soils. All of the sales are
considered similar in this category and were not adjusted
Permit Required: The subject is 100% freshwater forested wetlands with an FDEP wetlands
determination map also indicating the site is 100% slough and depressional soils. All of the sales
have wetland determinations that require a permit to develop. No adjustments were made in this
category due to the subject not having any indicated upland soils to develop on which is the same
for the comparables.
Land Sales Discussion: Following will be a brief discussion of each of the five sales utilized in
this analysis to estimate the market value for the subject property.
Land Sale One is the July 29, 2022 purchase of the vacant site located at 3425 22nd Ave SE in
Naples, Florida. The site contains 2.73 acres and was acquired for $55,000 or $0.46 per square
foot. Overall, this sale is rated superior to the subject due to having paved road access and its
smaller size. The final adjusted price per square foot for this sale is $0.35.
Land Sale Two is the July 27, 2022 purchase of the vacant site located off 261h Ave SE in Naples,
Florida. The site contains 5.00 acres and was acquired for $95,000 or $0.44 per square foot.
Overall, this sale is rated slightly superior to the subject due to having paved road access. The final
adjusted price for this sale is $0.41 per square foot.
Land Sale Three is the June 6, 2022 purchase of the vacant site located at 3624 28th Ave SE in
Naples, Florida. The site contains 2.73 acres and was acquired for $71,728 or $0.60 per square
foot. Overall, this sale is rated superior to the subject due to having paved road access and its
smaller size. The final adjusted price for this sale is $0.45 per square foot.
Land Sale Four is the September 16, 2021 purchase of the vacant site located off 40th Ave SE in
Naples, Florida. The site contains 2.73 acres and was acquired for $56,000 or $0.51 per square
foot. Overall, this sale is rated superior to the subject due to having paved road access and its
smaller size. The final adjusted price for this sale is $0.38 per square foot.
Land Sale Five is the July 15, 2021 purchase of the vacant site located off 341h Ave SE in Naples,
Florida. The site contains 2.73 acres and was acquired for $65,000 or $0.59 per square foot.
Overall, this sale is rated superior to the subject due to having paved road access and its smaller
size. The final adjusted price for this sale is $0.45 per square foot.
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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Reconciliation of Sales Comparison Approach
Range of Values
Adj. Sales Price Per SF
Maximum
$0.45
Minimum
$0.35
Mean
$0.41
Median
$0.41
Final Per Sq. Ft. Estimate
$0.40
Final Analysis: Five sales were utilized in the analysis process. The value indicators show an
adjusted range from a low of $0.35 per square foot (Sale One) to a high of $0.45 per square foot
(Sale Three). The mean and median value indications are $0.41 per square foot, respectively.
No one sale is considered most similar to the subject and as such all of the sales are good
representations of vacant land in the subject market. Sales One, Two and Three are the most
recent sales, with Sales Four and Five being the oldest. All five sales are of the same, topography,
zoning and land use classification. All of the sales were adjusted downward for superior access
with paved road frontage. Sales One, Three, Four and Five were adjusted downward for superior
size. Sale Two was adjusted upward for inferior size. All of the comparable sales are in close
proximity to the subject.
The five sales utilized in this report were considered the best available for comparison purposes.
Based on all the preceding information it is our opinion the subject property warrants a value of
$0.40 per square foot which is just below the mean -median values indicated above. Multiplying
this by the 165,092 square feet contained within the subject site provides a value indication of
$66,037 or $66,000 rounded.
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Section 6 - Reconciliation of Value
Summary of Value Conclusions i°As-Is"
Cost Approach
Income Approach
Sales Comparison Approach
Not Applied
Not Applied
$66,000
The Cost Approach is based upon the principle of substitution, which states that a prudent
purchaser would not pay more for a property than the amount required to purchase a similar site
and construct similar improvements without undue delay, producing a property of equal desirability
and utility. Since there are no improvements to consider, the cost approach was not used in this
appraisal.
The Income Approach compares rentals of similar properties to the subject. The derived market
rental rates are capitalized at a rate which considers available market financing and investor equity
return requirements. Vacant land is typically not purchased for its ability to generate a positive
cash stream. Therefore, the income approach was not used in this appraisal.
The Sales Comparison Approach references sales of similar properties located in competitive
areas in the market area as researched. The five sales analyzed provide a range of value
indications which supports the final value conclusion. The sales utilized in this analysis provide a
range of actual purchase prices for properties considered to be similar to the subject. The
appraiser properly considered each of the sales studied as well as the listing and analyzed each of
these properties in relationship to the subject in order to arrive at a value estimate for the subject
property.
Based on market conditions existing as of the effective date of appraisal, and in consideration of
the property as it existed on this date, it is our opinion the subject property, under the extraordinary
assumptions as discussed in this report, warranted a market value in its "as is" condition in fee
simple ownership on August 1, 2022 of:
SIXTY-SIX THOUSAND DOLLARS............................................................................. ($66,000.00).
Respectfully submitted,
Michael Jonas, MAI, AI-GRS, CCIM
State -certified general real estate appraiser RZ2623
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Section 7 - Certification and Limiting Conditions
Certification of Michael Jonas, MAI, AI-GRS, CCIM
I certify to the best of my knowledge and belief:
• 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 is our personal, impartial and unbiased
professional analyses, opinions, and conclusions.
• 1 have no present or prospective interest in or bias with respect to the property that is the
subject of this report and have no personal interest in or bias with respect to 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.
• This appraisal assignment was not based upon a requested minimum valuation, a specific
valuation, or the approval of a loan.
• My analyses, opinions, and conclusions were developed, and this report has been
prepared, in conformity with the Uniform Standards of Professional Appraisal Practice of
The Appraisal Foundation and the requirements of the Code of Professional Ethics and the
Standards of Professional Appraisal Practice of the Appraisal Institute, as well as the
requirements of the State of Florida relating to review by its duly authorized
representatives. This report also conforms to the requirements of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989 (FIRREA).
• The use of this report is subject to the requirements of the Appraisal Institute relating to
review by its duly authorized representatives.
• Michael Jonas has completed the requirements of the continuing education program of the
Appraisal Institute.
• Michael Jonas has made an inspection of the property that is the subject of this report.
• Hannah Dwyer, State -Registered Appraiser Trainee R125089, contributed to the
development of the appraisal report in the form of 45 hours. No additional persons
contributed significant real property appraisal assistance to the signors of this report.
• Michael Jonas has extensive experience in the appraisal/review of similar property types.
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• Michael Jonas is currently certified in the state where the subject is located and has
completed the continuing education requirements set forth with the State of Florida.
Certification is current until November 30, 2022.
• Although other appraisers may be contacted as a part of our routine market research
investigations, absolute client confidentiality and privacy are maintained at all times with
regard to this assignment without conflict of interest.
• Michael Jonas is in compliance with the Competency Provision in the USPAP as adopted
in FIRREA 1989 and has sufficient education and experience to perform the appraisal of
the subject property.
• Michael Jonas has not previously appraised the subject property; nor has he performed
any other services related to the subject property in the past three years.
Based on market conditions existing as of the effective date of appraisal, and in consideration of
the property as it existed on this date, it is our opinion the subject property, under the extraordinary
assumptions as discussed in this report, warranted a market value in its "as is" condition in fee
simple ownership on August 1, 2022 of:
SIXTY-SIX THOUSAND DOLLARS............................................................................. ($66,000.00).
Respectfully submitted,
CARLSON, NORRIS & ASSOCIATES
Michael Jonas, MAI, AI-GRS, CCIM
State -certified general real estate appraiser RZ2623
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General Assumptions & Limiting Conditions
Information Used: No responsibility is assumed for accuracy of information furnished by others
or from others, including the client, its officers and employees, or public records. We are not liable
for such information or for the work of contractors, subcontractors and engineers. The comparable
data relied upon in this appraisal has been confirmed with one or more parties familiar with the
transaction unless otherwise noted; all are considered appropriate for inclusion to the best of my
factual judgment and knowledge.
Certain information upon which the opinions and values are based may have been gathered by
research staff working with the appraiser. Names, professional qualifications and extent of their
participation can be furnished to the client upon request.
Legal, Engineering, Financial, Structural or Mechanical Nature, Hidden Components, Soil:
No responsibility is assumed for matters legal in character or nature nor matters of survey, nor of
any architectural, structural, mechanical or engineering nature. No opinion is rendered as to the
legal nature or condition of the title to the property, which is presumed to be good and marketable.
The property is appraised assuming it is free and clear of all mortgages, liens or encumbrances,
unless otherwise stated in particular parts of this report.
The legal description is presumed to be correct, but I have not confirmed it by survey or otherwise.
I assume no responsibility for the survey, any encroachments or overlapping or other
discrepancies that might be revealed thereby.
I have inspected, as far as possible by observation, the land thereon; however, it was not possible
to personally observe conditions beneath the soil or hidden; as a result, no representation is made
herein as to such matters unless otherwise specifically stated. The estimated market value
assumes that no such conditions exist that would cause a loss of value. I do not warrant against
the occurrence of problems arising from any of these conditions. It is assumed that there are no
hidden or unapparent conditions to the property, soil, subsoil or structures, which would render
them more or less valuable. No responsibility is assumed for any such conditions or for any
expense or engineering to discover them.
Information relating to the location or existence of public utilities has been obtained through inquiry
to the appropriate utility authority, or has been ascertained from visual evidence. No warranty has
been made regarding the exact location or capacities of public utility systems. Subsurface oil, gas
or mineral rights were not considered in this report unless otherwise stated.
Legality of Use: The appraisal is based on the premise that there is or will be full compliance with
all applicable Federal, State and local environmental regulations and laws, unless otherwise stated
in the report; and that all appropriate zoning, building and use regulations and restrictions of all
types have been or will be complied with and required licenses, consent, permits or other authority,
whether local, State, Federal and/or private, have been or can be obtained or renewed for the use
intended and considered in the value estimate.
Component Values: The distribution of the total valuation of this report between land and
improvements applies only under the proposed program of utilization. The separate valuations of
land and buildings must not be used in conjunction with any other appraisal, and are invalid if so
used.
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A report related to an estate that is less than the whole fee simple estate applies only to the
fractional interest involved. The value of this fractional interest, plus the value of all other fractional
interests, may or may not equal the value of the entire fee simple estate considered as a whole.
A report relating to the geographic portion of a larger property applies only to such geographic
portion and should not be considered as applying with equal validity to other portions of the larger
property or tract. The value for such geographic portions, plus the value of all other geographic
portions, may or may not equal the value of the entire property or tract considered as a single
entity.
All valuations in the report are applicable only under the estimated program of the highest and best
use and are not necessarily appropriate under other programs of use.
Auxiliary and Related Studies: No environmental or impact studies, special market study or
analysis, highest and best use analysis study or feasibility study has been requested or made by
us unless otherwise specified in this report or in my agreement for services. I reserve the unlimited
right to alter, amend, revise or rescind any of these statements, findings, opinions, values,
estimates or conclusions upon any subsequent study or analysis or previous study or analysis that
subsequently becomes available to us.
Dollar Values, Purchasing Power: The value estimates and the costs used herein are as of the
date of the estimate of value. All dollar amounts are based on the purchasing power and price of
the United States dollar as of the date of value estimate.
Inclusions: Furnishings and equipment or business operations, except as otherwise specifically
indicated, have been disregarded, with only the real estate being considered.
Proposed Improvements Conditioned Value: For the purpose of this appraisal, on- or off -site
improvements proposed, if any, as well as any repairs required, are considered to be completed in
a good and workmanlike manner according to information submitted and/or considered by us. In
cases of proposed construction, the report is subject to change upon inspection of the property
after construction is complete. The estimate of value, as proposed, is as of the date shown, as if
completed and operating at levels shown and projected.
Value Change, Dynamic Market Influences: The estimated value is subject to change with
market changes over time. Value is highly related to interest rates, exposure, time, promotional
effort, supply and demand, terms of sale, motivation and conditions surrounding the offering. The
value estimate considers the productivity and relative attractiveness of the property both physically
and economically in the marketplace.
The estimate of value in this report is not based in whole or in part upon race, color or national
origin of the present owners or occupants of the properties in the vicinity of the property appraised.
In the event this appraisal includes the capitalization of income, the estimate of value is a reflection
of such benefits and my interpretation of income and yields and other factors which were derived
from general and specific market information. Such estimates are made as of the date of the
estimate of value. As a result, they are subject to change, as the market is dynamic and may
naturally change over time. The date upon which the value estimate applies is only as of the date
of valuation, as stated in the letter of transmittal. The appraisal assumes no responsibility for
economic or physical factors occurring at some later date which may affect the opinion stated
herein.
An appraisal is the product of a professionally trained person, but nevertheless is an opinion only,
and not a provable fact. As a personal opinion, a valuation may vary between appraisers based
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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upon the same facts. Thus, the appraiser warrants only that the value conclusions are his best
estimate as of the date of valuation. There are no guaranties, either written or implied, that the
property would sell for the expressed estimate of value.
Title Review: Unless otherwise stated, the appraiser has not reviewed an abstract of title relating
to the subject property. No title search has been made, and the reader should consult an attorney
or title company for information and data relative to the property ownership and legal description.
It is assumed that the subject title is marketable, but the title should be reviewed by legal counsel.
Any information given by the appraiser as to a sales history is information that the appraiser has
researched; to the best of my knowledge, this information is accurate, but not warranted.
Management of the Property: It is assumed that the property which is the subject of this report
will be under prudent and competent ownership and management over the entire life of the
property. If prudent and competent management and ownership are not provided, this would have
an adverse effect upon the value of the property appraised.
Confidentiality: We are not entitled to divulge the material (evaluation or valuation) content of this
report and analytical findings or conclusions, or give a copy of this report to anyone other than the
client or his designee, as specified in writing, except as may be required by the Appraisal Institute,
as they may request in confidence for ethic enforcement, or by a court of law with the power of
subpoena.
All conclusions and opinions concerning the analyses as set forth herein are prepared by the
appraisers whose signatures appear. No change of any item in the report shall be made by
anyone other than the appraiser, and the firm shall have no responsibility if any such unauthorized
change is made.
Whenever our opinion herein with respect to the existence or absence of fact is qualified by the
phrase or phrases "to the best of our knowledge", "it appears" or "indicated", it is intended to
indicate that, during the course of our review and investigation of the property, no information has
come to our attention which would give us actual knowledge of the existence or absence of such
facts.
The client shall notify the appraiser of any error, omission or invalid data herein within 10 days of
receipt and return of the report, along with all copies, to the appraiser for corrections prior to any
use whatsoever. Neither our name nor this report may be used in connection with any financing
plans which would be classified as a public offering under State or Federal Security Laws.
Copies, Publication, Distribution, Use of Report: Possession of this report, or any copy thereof,
does not carry with it the right of publication, nor may it be used for other than its intended use.
The physical report remains the property of the firm for the use of the client, with the fee being for
the analytical services only. This report may not be used for any purpose by any person or
corporation other than the client or the party to whom the report is addressed. Additional copies
may not be made without the written consent of an officer of the firm, and then only in its entirety.
Neither all nor any part of the contents of this report shall be conveyed to the public through
advertising, public relations effort, news, sales or other media without my prior written consent and
approval of the client.
It has been assumed that the client or representative thereof, if soliciting funds for his project, has
furnished to the user of this report complete plans, specifications, surveys and photographs of land
and improvements, along with all other information which might be deemed necessary to correctly
analyze and appraise the subject property.
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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Authentic Copies: Any copy that does not have original signatures of the appraiser is
unauthorized and may have been altered and, therefore, is considered invalid.
Testimony, Consultation, Completion of Contract for Appraisal Services: A contract for
appraisal, consultation or analytical services is fulfilled and the total fee payable upon completion
of the report. The appraisers or those assisting in the preparation of the report will not be asked or
required to give testimony in court or hearing because of having made the appraisal in full or in
part, nor will they be asked or required to engage in post appraisal consultation with client or third
parties except under separate and special arrangement and at an additional fee.
Any subsequent copies of this appraisal report will be furnished on a cost-plus expenses' basis, to
be negotiated at the time of request.
Limit of Liability: Liability of the firm and the associates is limited to the fee collected for
preparation of the appraisal. There is no accountability or liability to any third party.
Fee: The fee for this appraisal or study is for the service rendered, and not for time spent on the
physical report. The acceptance of the report by the client takes with it the agreement and
acknowledgement that the client will pay the negotiated fee, whether said agreement was verbal
or written. The fee is in no way contingent on the value estimated.
Special Limiting Conditions: The Americans with Disabilities Act became effective January 26,
1992. Notwithstanding any discussion of possible readily achievable barrier removable
construction items in this report, Carlson, Norris and Associates, has not made a specific
compliance survey and analysis of this property to determine whether it is in conformance with the
various detailed requirements of the A.D.A. It is possible that a compliance survey of the property
together with a detailed analysis of the requirements of the A.D.A. could reveal that the property is
not in compliance with one or more of the requirements of the A.D.A.; If so, this fact could have a
negative effect on the value estimated herein. Since Carlson, Norris and Associates has no
specific information relating to this issue, nor is Carlson, Norris and Associates qualified to make
such an assessment, the effect of any possible noncompliance with the requirements of the A.D.A.
was not considered in estimating the value of the subject property.
This analysis is made in conformity with the requirements with the Uniform Standards of
Professional Appraisal Practice and the Standards of Professional Conduct of the Appraisal
Institute.
Extraordinary Assumption is defined as: "An assumption, directly related to a specific
assignment, as of the effective date of the assignment results, which, if found to be false, could
alter the appraiser's opinions or conclusions. Extraordinary assumptions presume as fact
otherwise uncertain information about physical, legal, or economic characteristics of the subject
property; or about conditions external to the property, such as market conditions or trends; or
about the integrity of data used in an analysis." An extraordinary assumption may be used in an
assignment only if:
• It is required to properly develop credible opinions and conclusions.
• The appraiser has a reasonable basis for the extraordinary assumption.
• Use of the extraordinary assumption results in a credible analysis; and
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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The appraiser complies with the disclosure requirements set forth in USPAP for
extraordinary assumptions.
Please note the following extraordinary assumptions:
• A soil analysis for the site has not been provided for the preparation of this appraisal. In the
absence of a soil report, it is a specific assumption that the site has adequate soils to
support the highest and best use. The analyst is not an expert in area of soils, and would
recommend that an expert be consulted.
• It is assumed that there are no hidden or unapparent conditions to the property, soil, or
subsoil, which would render them more or less valuable. Subsurface oil, gas or mineral
rights were not considered in this report unless otherwise stated. The analyst is not an
expert with respect to subsurface conditions, and would recommend that an expert be
consulted.
• It is assumed that there are no hazardous materials either at ground level or subsurface.
None were noted during the property inspection. The analyst is not an expert in the
evaluation of site contamination, and would recommend that an expert be consulted.
• The appraisers were not provided with a survey of the subject parcel. We relied on the
information found on the Collier County Property Appraiser's website. It is assumed the
subject's land size noted is accurate.
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Section 8 - Addenda
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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SUBJECT QUIT CLAIM DEED
Quitclaim Deed
THIS QUITCL.AIMpFEQewutedthis 25 dayKaY 2 05..
by first party,Grania4 Eladio R. Arias
whose post office address is 2356 SW 125 AyojQtip, Viramar, FAridzL 33027-2631i
IasetandNq,Gr Pladic R. Ariar, and Silvia M. Arias _
whosepostaff,oeaddr�,K s 2356 Sa! 125 Avenue Miramar. Florida SS027-2636
WITNESSEiH.'� said first party, for good consaderatipn and for the sum of
f' Dnllars
paid by toe said second parry,1 a reaW whereof is hereby adknowledged, does hereby remiaer mlt+ase and qvi claim ,►ntb the
said seaw�d party fwevec all the rlgl�L title, erect and claim which the said fist parry has in and to the fdbomy described
pipKO of land, and impgmments and and.inemwes thereta in the County of Miami -Dade
Stare of Florida to . .
West 190' of Traut 121, Unit 91A; rG 1¢"q Gate Esupte-sr according to plat thereof
recorded in Plat Hank 9, Page 9, of the Public Records of Collier County, Florida.
... 363 957 OR; 3815 PG: 0671
861011205 it 11,I1M Lrt W 1. 911ct, CW19
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j Wills 2.114
KAIII I u].KiE
2356,l*A al
nw,10.3a27
. Ij
ell
wwwwwouar.r a rd sac Mesa Lue
ure. w aw,
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
"t OR: 3815 PG: 0672 M
IN WFFNESS WHERWF, Tk Sand fiW party has Signed and sealed these presents the day arrd lost above written.
5i nW. sealed and deliue in presence of:
SMjralllre CO WkDW5i: _ f
Print rranre of Wilnem: �CI" /I'-JCt elf +'r
Signature of Witness:
1}aiM name qttM1fiVresS: _ 5kjrralure d First P":
Print narneofFirst Party_!`
r
Signature of Secand41
Party: —
Print name of SKoW Party: u T '{ r ,
--�'`
5ignature of Preparer. _ —
Y
y
Prod Name of Prep r 4 S
f
Addrzss of Preparer[ ! 5 14 ' It f{, r�wr+a ri a3 7
Staleoi}�} f
Corny oll Al E x
an 1J` f
appeased Z[AroFrFFs
per5ora y known to me jor pravM to me on the h,a5 s of satisfactory evideoce� to be the par�or*j-Wh w narne(5� Ware
wbscrihed to the within instrumerrt and acknowledged to me N1 hehlw t* exmml th@ sa rn h�hertlheir authorized
caoa(itylies), and that ty hialherAheir s7 rmuwe(s on the insrrunaenr the persws), or the errtlty� half of which the
persan(5) acted, exxecutod the iIKUUm nL
ESS"hand and ' 'A.
$ignature of Nalary
J C G.Q W
`` *cry 1M
,rx.ieaiw�ron
par 2
Affia€rt _IGYJYAI Prpdu€ed ID
I"ofID
(Seal)
V"mom.r.k LLC
IFMF Fn 0"
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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FDEP Informal Wetland Determination Map
—001 .1d.4 lul IUD j
3 53 - 76 $3 $4 a9 11Q i
9 ' SA
SUBJECT ' I ?�
I � j
142 1•` 3 1
71
16 .17 32
a3'
f
48
4$
OEP bformal WeiaM fAeW minstlono
oab¢nd+ of Fbld CondlHo nc lndi--Uplands
DaW and I o- Field Contlilbn¢ Indlcat¢ SIM Plan is Haedad W Detormi— Impe¢W
{ �] A
3 4
1
ll
J
1
•� Cana and: or Fi¢Id Condkbna Indicate Watlande and Permit Wecessery
.�
i Data and 1 yr Field Conditions Indlcale Dttcnea and Permit Nacesaary
'
_
-
- _
Tha"D¢Wfnllratlms" M this figire are lrom Informal prr.eppllr 11l
wetland detamknatiom pant to Section $73121igy, F S-, and
",312W ?). F.A.C. It does not ntne Ne Departmanl, Im ag¢nn
¢r amisdy¢¢a, not does it-nvey any logs) ng huexpressed or
}jRCs Hydric Solla Model
aePreaso-.i w�
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M V B BANK AND SMALL BUSINESS ADMINISTRATION
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NATIONAL WETLANDS MAP
U.S. Fish and Wildlife Service
National Wetlands Inventory wetlands
August 3, ZQ22 Then map d fw general reference -Ay Th. US Fish and wildlife
g Service is not req—Na fmthe at—aoy ornf inesa of the
weaanas base data shown on oN& map Al wetzands related data should
Freshwater Emergent Wetland Lake be used in accordenoe with the layer metadata found m the
Nletlends Mapper web Ate.
Estuarine and Marine Deepwater . Freshwater ForestedlShrub Wetland � Dther
❑ Estuarine and Marine Wetland :j Freshwater Pond Riverine
NCI WMIS &f M-1,yiNWI)
iris pa�waior&d dhr he NWI Tapper
72
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
USDA SOIL MAP
Soil Map--Wl6 C—ly Area, Fleritla
Map Unit Legend
Map Unit Symbol
Map Unit Narna
Acres In A41
Rarcard of A111
103
Cypress Lake -Riviera-
_
3.9 %
Copeland fine sands.
frequently ponded-Urban
land associadm, 0 to 1
percent slopes
t
3.6%
110
Brynwood fine sandJUrban
land complex, 4 to 2 percent
slopes
ill
Brynwood-Cypress Lake fine
3.6
92.6%
sands -Urban land
association, 0 to 2 percent
slopes
Totals for Area of Intarest
3.9
100.0%
73
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
FLOOD MAP
National Flood Hazard Layer FIRMette FEMA Legend
0 250 500 1'000 1.500 2.X0 uu
Basemap.' U5G5 NaNpnaf Map! DrthcUITtagerf Data reffesherd October, 20M
W Ilhowut Base FNM El ev btlon WE)
SPECIALFLOOD
WIIn HFEpr Ueptn.-� — iQ Ate. E.AF
HAZARD ARFikS
RELS
Reguremry Fld ay
0.2%Annual Chance Rootl Hazard. Auras
IN 1P annual ahanae nootl Mth a—ge
depm I.. than one foot av Wth dralaage
— at 4— V. one sq bare mile.:.
Future CorAttian&1%Ahhuial
Chance FUM Flimartl =
Are. wllh Reducetl Floocl R k due m
OTHER AREAS OF
Levee. See NOS.- I
FLOOD HAZARD
Area wIRl F1md Rlstldue m Levee=..::
aft Area IN Mlnlmal Flood HeE.rtl = . -
McClhe LOMR3
OFFER RHEAS
Area ot tlnderermlfwd Frond Hatard =• '
6FlER.afL
---- Ch.nnel. Cwl .or Au —Sewer
STROCT11RES
1 11 l i LFnee. Dlke.IX Flpadwell
DE— Cross 1-11— with 111 Annual In," —
Water Surraee El—llun
— — — Co.ft lTran--t
— Base Flood Elevation Line rBFEJ
D aNt al 5tutly
Juols ollon Ba.mdaay
••� Coaslal TranseM Ba-line
OTHER _ Fmllle Baseline
FEATURES H)OWapiNe Feature
Digital Data Avallah1E
Ro Dlgltal Data ArallarNe
MAP PANELS unmapped
The Wn Olspra}ed on the map R an anTrAama[e
nt selected by the per and di— nor -mat
an.ukh.rl a pmpeny lreocation.
Tills map mmpkes with FEMAS 5tdndafds Mr the sea'
tllgltai flood maps It II A mat x d as de —bed bel—
Mhi—Map SMwn complied *Ith FEMA's baseinap
.ey stil
The noon nmard inrowi llan Is aamved diR tly tram the
euthodtal— NFRL deb serrlces pmIlded br FEMA This map
exporletl on 8: 3%2022 a11i1:?9 AV and does nae
rerlect changes end —I& subsequent mthis data and
[Ime. The RFHL a:e e,I.KtlYe:dormatlon may eaaage or
heeame super5aded by new data fter time.
This map Image is told II the one or more of the Idlowing ma:
elemenlsdo not appear hasemap Imagery, Hood zone labels,
legend, scale aar. map creation 6a9e. com manity tlentdlers.
FIRM panel churn¢!- and FIRM etre tl. date. Map Images Tor
unmapped and unmodeml-wd a— Cannot be umdroa
regulatory purposes.
74
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C A R L S O N, NORRIS & ASSOCIATES
APPRAISER LICENSE
License of Michael P. Jonas, MAI, AI-GRS, CCIM
Ran DeSwr ,Cwe
dbiar
STATE OF FLORIDA
DEPARTMENT O F BUS I NESS AN D PROFESSIO NAL REGULATION
Halsrf grawws F.eortry
FLORIDA DEAL ESTATE APPRAISAL BD
THE CERTIFIED GENERAL APFRAYSER HERON ISCERTIFIED UNDER THE
PROVISIONS OF CHAPTER 475. FLOMDA STATUTES
1919 COURTNEY DRIVE STE 14
.FORT MYEI?5�. - FL 34-109
EXPIRATION DAM-14 MEMBER 3D, 2022
Nways verffyiicenws online at MyfloridaLiceme.com
Do not alter thisdocurnent in any form.
Ibis is your license_ It is unlawful far anyone other than the licensee to use this document.
75
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
QUALIFICATJONS OF MICHAEL P. JON AS. MAI. AI-GRS. CCIM
STATE -CERTIFIED GENERAL REAL ESTATE APPRAISER RZ2623
EDUCATION:
University of Central Florida - 1999 BSBA —Finance
PROFESSIONAL EDUCATION:
Appraisal Institute: National USPAP Update Course, 2012, 2014, 2016, 2C20
Appraisal Institute: 2018 Legislative VALUEvent , 2018
Appraisal Institute: Advanced Income Capitalization, 2003
Appraisal Institute: Advancing the Appraisal Profession, 2019
Appraisal Institute: Analyzing Distressed Real Estate, 2007
Appraisal Institute: Appraisal Laws and Rules, 2000, 2002, 2004, 2020
Appraisal Institute: Appraisal Report Writing, 2005
Appraisal Institute: Artificial Intelligence, AVMS, 2019
Appraisal Institute: Business Practice and Ethics, 2012, 2016, 2019, 2020
Appraisal Institute: Desktop Appraisals 2020
Appraisal Institute: FL State Lawfor Real Estate Appraisers, 2004
Appraisal Institute: Florida Appraisal Laws and Rules, 2012, 2014, 2016
Appraisal Institute: Florida Real Estate Valuation, 2011
Appraisal Institute: Florida State Law for Real Estate Appraisers, 2006
Appraisal Institute: Fundamentals of Separating Real Estate, 2012
Appraisal Institute: Insurance Appraisal, 2011
Appraisal Institute: National USPAP Update Course, 2000, 20132, 2004, 2006, 2008, 2010, 2012
Appraisal Institute: Real Estate Damages, 2011
Appraisal Institute: Reappraising, Readdressing, Reassigning, 2007
Appraisal Institute: Review Theory— General, 2014
Appraisal Institute: Roles]Responsi bil ities Su pervisorfTrainee, 2006, 20D8
Appraisal Institute: Specialty Appraisal Continued Education, 2000, 2002, 2004, 2006, 2008,
2012, 2014, 2016
Appraisal Institute= State Law for Real Estate Appraisers, 2D08, 2010, 2012
Appraisal Institute: The Appraiser as an Expert Witness, 2C16
Appraisal Institute: Trial Components, 2018
Appraisal Institute: Uniform Appraisal Standards for Federal, 2007
Bert Rodgers: Continuing Education, 2004
Bert Rogers: Real Estate CE, 2006
Bob Hague: CE for Florida Real Estate Professionals, 2016
CCIM Institute: Financial Analysis Commercial Investment, 2008
CCIM Institute: Financial Analysis for Commercial, 2008
CCIM Institute: Investment Analysis Commercial Investment, 20D9
CCIM Institute: Investment Analysis Commercial, 2009
CCIM Institute: Market Analysis Commercial Investment, 2008
CCIM Institute:. User Decision Analysis Commercial Industrial, 2009
CLE International: Eminent Domain, 20M
Cooke: CE for Real Estate Professionals, 2015
DPBR: FREAB Board Meeting, 20D7
FREB Board Meeting, 2007
Larson Educational Services: Core Law, 2010
McKissock: Supervisor —Trainee Course for Florida, 2019
76
M V B BANK AND SMALL BUSINESS ADMINISTRATION
C A R L S O N, NORRIS & ASSOCIATES
NAB OR Ethics Training: 2004, 2008, 2012, 2016
Southern Real Estate Academy: Broker License, 2DD7
Trans Equity Inc: Care Law, 2012
EXPERIENCE:
1999-200D
Clayton, Raper 8, Marshall
Orlando, FL
2000 —2001
Chapman 8, Associates
Sarasota, FL
2001 —2008
Coast Engineering Consultants, Inc
Naples, FL
2008 — 2009
Orion Bank.
Naples, FL
2009-2011
Iberia Bank
Naples, FL
2011 —2014
Integra Realty Resources
Naples, FL
2014 — 2016
Capstone Valuation Advisors, LLC
Naples, FL
2016-2D19
MPJ Real Estate Services, Inc_
Naples, FL
2019 — Present
Carlson, Norris 8, Associates
Fort Myers 8. Naples, FL
PROFESSIONAL MEMBERSHIP:
Appraisal Institute, Member (MAI f AI-GRB) No_ 124H
Certified Commercial Investment Member, CCIM No. 18275 Certification,
State Certified General Appraiser RZ2623 Member, Naples Area Board of Realtors
State of Florida, Registered Real Estate Broker BK700992
Properties appraised include: subdivisions, retail centers, motels, commercial buildings, industrial
buildings, warehouses. mobile home parks, professional offices, medical offices, of icelwarehouse
condominiums, single family homes, duplexes, apartment projects, individual condominium projects,
residential lots, acreage, wetlands, special use properties, ranches, conservation easements hotels,
marinas, mixed -use subdivisions, regional malls, gas stations, self --storage facilities and eminent
domain eases_
Appraisal clients include: banks, savings and loan associations, attorneys, caiporadons, builders,
developers, mortgage oompanies, insurance companies, home transfer companies, private
individuals, and local, state and federal government agencies_
Qualified as an expertwitness in Monroe and Collier County Circuit Court_
77