Agenda 10/24/2023 Item #14B1 (Purchase and Sale Agreement with Naples Cinematheque Inc )SEE REVERSE SIDE
Proposed Agenda Changes
Board of County Commissioners Meeting
October 24, 2023
Move item 16K6 to 12A: Recommendation that the Board direct that the Appeal of Official Interpretation
PL20230010644 regarding the interpretation of “neighborhood fitness and community center” in the Golf Course
and Recreational Use Zoning District be sent to the Hearing Examiner for public hearing and decision.
(By request of Commissioners LoCastro, Saunders, and Kowal)
Item 14.B.1 has been withdrawn: Recommendation that the Board of County Commissioners (BCC) and the BCC
acting as the Community Redevelopment Agency Board (CRA) direct staff to negotiate a purchase and sale
agreement with Naples Cinematheque, Inc., or its assigned affiliate, for the approximately 1.84 acres of CRA-
owned property at the corner of Thomasson Drive and Bayshore Drive in the Bayshore/Gateway Triangle
Community Redevelopment Area (A/K/A “Del’s”), and to bring back an agreement for further consideration.
(By staff’s request)
Item 16.B.3 has been continued to the November 14 meeting: Recommendation to award Invitation to Bid
("ITB") No. 23-8130, "US 41 (SR45) North Landscape Irrigation Renovation Improvements," to Hannula
Landscaping and Irrigation, Inc., in the amount of $267,205.86, authorize the Chairman to sign the attached
Agreement, and approve the necessary budget amendments. (By request of Commissioner McDaniel)
Notes: Please be advised that the agenda system failed to upload one of the large attachments to Item 16.B.1:
Recommendation to award Invitation to Bid (ITB) No. 23-8119, “Signal Improvements at Airport Road and
Poinciana Elementary School,” to Horsepower Electric, Inc., in the amount of $613,981, and authorize the
Chairman to sign the attached Agreement. That Agreement attachment was publicly posted on our website for
this meeting and a link was sent to you last week for your review of that agreement.
TIME CERTAIN ITEMS:
Add-on Item 5A to be heard immediately after Item 2C: A presentation by Collier County Tax Collector, Rob
Stoneburner.
Add-on Item 10A to be heard at 10 AM: Recommendation that the Board commits to providing the Collier
County Sheriff all necessary resources to ensure the safety and security of all residents, visitors, schools, and places
of worship during the ongoing conflict in Israel and Gaza. (Commissioner Saunders’ Request)
Companion Items 9A and 9B to be heard at 10:30 AM: Recommendation to approve a rezoning Ordinance for
and to approve and submit a small-scale Growth Management Plan Amendment Ordinance to the Florida
Department of Commerce for Ascend Naples.
Item 11C will be heard at 3 PM: Recommendation to approve funding allocations to support the Golden Gate
Golf Course workforce and senior housing project.
11/9/2023 8:23 AM
10/24/2023
EXECUTIVE SUMMARY
Recommendation that the Board of County Commissioners (BCC) and the BCC acting as the Community
Redevelopment Agency Board (CRA) direct staff to negotiate a purchase and sale agreement with Naples
Cinematheque, Inc., or its assigned affiliate, for the approximately 1.84 acres of CRA-owned property at the
corner of Thomasson Drive and Bayshore Drive in the Bayshore/Gateway Triangle Community
Redevelopment Area (A/K/A “Del’s”), and to bring back an agreement for further consideration.
OBJECTIVE: To sell property in the Bayshore/Gateway Triangle Community Redevelopment Area (BGTCRA)
in furtherance of the Community Redevelopment Plan, and pursuant to terms favorable to the Agency, County, and
taxpayers.
CONSIDERATIONS: On May 26, 2020, the Board of County Commissioners acting as the Collier County
Community Redevelopment Agency Board (CRA) approved the purchase of three contiguous parcels (Folio
#52600080009, 5260012008, and 52600160000) totaling 1.84 +/- acres located at the corner of Thomasson Drive
and Bayshore Drive and more commonly known as “Del’s.” The site included an existing store and warehouse (.44
+/- acres) zoned C-5, a dry storage area (.77 +/- acres) zoned C-3 and C-5, and a vacant parcel (.63+/- acres) zoned
RMF (Exhibit A). The cost to purchase the site was $2,118,000. Additional costs to date are approximately
$220,000, which include survey, demolition, and maintenance. Please note that the acquisition was authorized by
the CRA Board and purchased with tax increment revenue, but title to the property is in the name of Collier
County.
In December 2022, Naples Cinematheque submitted a Letter of Intent (LOI) to purchase the site for $2,500,000 and
develop a three-screen theater venue for revival and repertory cinema, special events, and post-production services.
The venue would also have standard concessions and a full bar.
On January 17, 2023, the Bayshore/Gateway Triangle Local Redevelopment Advisory Board (Advisory Board)
considered the LOI as presented by representatives from Naples Cinematheque.
On February 14, 2023, the Board of County Commissioners directed staff to evaluate the proposal and bring the
matter back for further consideration.
Following the meeting of February 14, 2023, CRA staff met with Naples Cinematheque and noted the following
items: assurances of financial commitment, evaluation of the price and development timeframe.
On March 30, 2023, Naples Cinematheque provided a revised LOI with additional information including Initial
Schematics (Exhibit B).
At its meeting of April 11, 2023, the Board of County Commissioners, acting as the Community Redevelopment
Agency Board (CRA), directed staff to give at least 30 days public notice of its intent to sell, lease, or otherwise
transfer the subject property in accordance with Section 163.380(3)(a), Florida Statutes. The required public notice
was published on April 21, 2023 (Exhibit C). The deadline to submit proposals was May 21, 2023. No proposals
were received by the deadline or thereafter.
Staff obtained two current appraisals of the subject property to assist with the evaluation of the LOI and the terms
of any subsequent purchase and sale agreement.
In an Appraisal Report dated August 21, 2023, Carroll & Carroll Real Estate Appraisers & Consultants estimated
the “as is” market value of the subject property as $3,050,000 with a highest and best use of “a multi -story mixed
use building, residential over retail and the RMF-6 lot used for off street parking or water retention and
management areas,” and an estimated exposure time of 4-6 months (Exhibit D).
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In an Appraisal Report dated August 16, 2023, RKL Appraisal and Consulting estimated the “as is” market value of
the subject property as $2,570,000 with a highest and best use of “mixed -use development consistent with the
Bayshore Overlay District” and an estimated exposure time of 12 months (Exhibit E).
In an Appraisal Review of August 23, 2023, Roosevelt Leonard, Supervisor, of the Collier County Real Estate
Division stated that: the two appraisal reports are accepted; the range of value is $2,570,000 to $3,050,000; the
highest and best use is to improve the property as mixed use development; and the asking price should be the
$2,810,000, the average of the two appraisals. (Exhibit F).
Framework for Evaluating the Proposal and a Subsequent Purchase and Sale Agreement
In the absence of contravening guidance, staff will be focused on the following criteria.
• Consistency of the Proposal with the Community Redevelopment Plan
o The CRA purchased the property in order to ensure that its “…future uses are compatible with the recently
updated Redevelopment Plan.”
o Staff believes the proposed use is compatible with the Community Redevelopment Plan as reflected by:
▪ The overarching Vision of the Community Redevelopment Plan: Promote quality of life and economic
vitality with a mixed-income, urban, multi-modal community that welcomes visitors, cultivates the
area’s artistic and cultural identity, uplifts unique local destinations, and finds balance with the
natural environment. [emphasis added]
▪ Section 5.05 of the Community Redevelopment Plan, entitled “Focus of Redevelopment, 6. North
Bayshore,” specifically identifies the redevelopment of Del’s as a focal point. Similarly, it identifi es
“[a]rts and culture-oriented development” as a focal point.
▪ Section 5.3.4 of the Community Redevelopment Plan, entitled “Development, Objective 3: Incentivize
desired types of development,” identifies “larger catalyst development projects” and “arts-oriented
development” as desirable and meriting a discussion of incentivization.
• Contract Terms
o Entity. Should be an incorporated entity registered with the Florida Department of State. Currently, there
is no record of the entity in the database of the Florida Department of State, Division of Corporations.
o Purchase Price. Achieving the appraised value/asking price is desirable, the higher the better. It is
important to recognize that the current asking price is based upon the property “as is” a nd not upon any
desirable post-closing restrictions.
o Deposits-amounts, timing, when at-risk. Generally, the greater the deposits and the willingness of
Purchaser to subject the deposits to forfeit, should the purchaser fail to perform, the better it w ould be for
the Agency as Seller.
o Contingencies.
▪ Financing. Any proposed contingency for financing is especially important for this concept because it
is not a standard real estate deal in the local marketplace. The Agency should not entertain any lo ng
and/or open-ended contingencies for financing, and the Purchaser should address this concern by
addressing capitalization and proof of funds to the greatest extent possible now.
▪ Entitlements. Any contingencies for development approval should be tied to specific timelines and
adequate deposits.
o Successors or Assigns/What ifs…
▪ According to the Bureau of Labor Statistics, 60% of new Florida businesses will not be in business 10
years later (https://www.bls.gov/bdm/fl_age_total_table7.txt). The CRA purchased the property in
order to ensure compatibility. We would not want to see this purpose defeated post -closing.
▪ As a result, staff recommends post-closing restrictions that would protect the Agency and public
interest. Similar mechanisms were recently used by the CRA on the Immokalee/Catholic Charities
transaction. Examples of mechanisms include:
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➢ Milestones for construction backstopped by fines and ultimately a reverter, where: the Seller at its
option may elect to purchase the Property at the lesser of (1) the Purchase Price plus the cost of the
improvements at the fair market of the improvements or the fair market value of the land and
improvements determined by an independent appraiser agreed to by the Parties.
➢ Right of First Refusal. If Purchaser elects to sell any parcels within the Project at any time after
Closing, the County will have the right of first refusal to purchase the parcels on the same terms
and conditions as a third-party purchaser.
➢ Prohibition of specific uses by restrictive covenant, such as auto repair, gas station, storage,
carwash, etc.
CRA Staff’s Current Position
The proposed use is compatible with the Community Redevelopment Plan; and, if the concept is successful, would
be a big win for the Community Redevelopment Area and Bayshore Drive:
➢ creating a unique and potentially world-class local destination;
➢ offering arts and culture to our citizens;
➢ finding synergies with the Naples Botanical Garden and other institutions;
➢ supporting and increasing demand for dining and entertainment uses in the area; and
➢ positively contributing to the local economy.
It is essentially a one-of-a-kind concept that would be operated by a new entity in a special use building. As a
result, this proposal is subject to substantial risk in addition to normal business risk, and staff believes that this risk
should be borne by the proposer and the private market, not the public. Therefore, it is anticipated that staff’s
recommendation on any proposed purchase and sale agreement will hinge upon the aforementioned framework and
especially the purchase price meeting asking price and the inclusion of mutually acceptable post -closing conditions.
If the Purchaser can pay market value and protect the Agency and public post -closing, then CRA staff is likely to
recommend approval.
A draft of this Executive Summary was presented to the Advisory Board at its meeting of September 12, 2023. The
Advisory Board expressed their general support for staff’s position and also their concerns about the single use
nature of the proposed development and long-term viability of the concept, encouraging a mix of uses and revenue
streams to facilitate success.
FISCAL IMPACT: Based on the average of two accepted appraisal reports, the property's asking price should be
$2,810,000. The site was purchased in 2020 for $2,118,000. Additional costs to date are more than $220,000, which
includes survey, demolition, and maintenance. The sale of the site would provide additional revenue to the CRA for
implementation of the Community Redevelopment Plan and eliminate the need for ongoing maintenance of the
property. Depending upon the nature of the ownership entity (for profit vs. not for profit) and the success of the
use(s), the sale could result in the growth of the property tax base and local economy.
GROWTH MANAGEMENT IMPACT: None at this time. The property may need to be rezoned based on the
details of a successful proposal.
LEGAL CONSIDERATIONS: Although the parcels were conveyed to Collier County by Warranty Deed in
Official Records Book 5848 page 493 et seq., CRA funds were used to purchase the parcels, and the disposition of
the parcels is subject to the “Community Redevelopment Act of 1969” in Florida Statutes Section 163.330 et. seq.
This item is approved as to form and legality, and requires majority vote for approval. (HFAC)
RECOMMENDATION: The Board of County Commissioners (BCC) and also the BCC acting as the
Community Redevelopment Agency Board (CRA) direct staff to negotiate a purchase and sale agreement with
Naples Cinematheque, Inc., or its assigned affiliate, for the approximately 1.84 acres of CRA-owned property at
the corner of Thomasson Drive and Bayshore Drive in the Bayshore/Gateway Triangle Community
Redevelopment Area (A/K/A “Del’s”), and to bring back an agreement for further consideration.
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10/24/2023
Prepared by: Gregory J. Oravec, CRA Director
ATTACHMENT(S)
1. 1-Exhibit A, Parcel Information (PDF)
2. 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (PDF)
3. 3-Exhibit C, Public Notice (PDF)
4. 4-Exhibit D, Carroll and Carroll Appraisal Report (PDF)
5. 5-Exhibit E, RKL Appraisal Report (PDF)
6. 6-Exhibit F, Appraisal Review by Roosevelt Leonard, Supervisor Real Property Division, Collier County
(PDF)
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10/24/2023
COLLIER COUNTY
Board of County Commissioners
Item Number: 14.B.1
Doc ID: 26960
Item Summary: Recommendation that the Board of County Commissioners (BCC) and the BCC acting as the
Community Redevelopment Agency Board (CRA) direct staff to negotiate a purchase and sale agreement with
Naples Cinematheque, Inc., or its assigned affiliate, for the approximately 1.84 acres of CRA-owned property at the
corner of Thomasson Drive and Bayshore Drive in the Bayshore/Gateway Triangle Community Redevelopment
Area (A/K/A “Del’s”), and to bring back an agreement for further consideration. (Gregory Oravec, Community
Redevelopment Agency Division Director)
Meeting Date: 10/24/2023
Prepared by:
Title: – Corporate Business Operations
Name: Greg Oravec
10/11/2023 2:52 PM
Submitted by:
Title: – Corporate Business Operations
Name: Greg Oravec
10/11/2023 2:52 PM
Approved By:
Review:
Corporate Business Operations Jennifer Reynolds Stage 1 Review Completed 10/11/2023 3:15 PM
Office of Management and Budget Charles Kammerer Stage 1 Review Completed 10/11/2023 3:32 PM
Facilities Management Jennifer Belpedio Additional Reviewer Completed 10/12/2023 5:16 PM
Corporate Business Operations Greg Oravec Director - CRAs Completed 10/13/2023 1:27 PM
County Attorney's Office Heidi Ashton-Cicko Level 2 Attorney of Record Review Completed 10/16/2023 10:20 AM
Facilities Management John McCormick Additional Reviewer Completed 10/16/2023 10:23 AM
Office of Management and Budget Blanca Aquino Luque Level 3 OMB Gatekeeper Review Completed 10/16/2023 10:51 AM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 10/16/2023 10:51 AM
Office of Management and Budget Christopher Johnson Additional Reviewer Completed 10/16/2023 12:33 PM
County Manager's Office Ed Finn Additional Reviewer Completed 10/18/2023 11:44 AM
County Manager's Office Dan Rodriguez Level 4 County Manager Review Completed 10/18/2023 12:09 PM
Board of County Commissioners Geoffrey Willig Meeting Pending 10/24/2023 9:00 AM
14.B.1
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Three properties – 4 Lots:Lot 3 - .44 +/- Acres Zoned C-5 Store and Warehouse – 7,520 sq. ft.Lots 1& 2 - .77 +/- Acres Zoned C-5 (.38 AC) and C-3 (.38 AC) (drystorage – 800 sq. ft.)Lot 4 - .63 +/- Acres Zoned RMF-6(Vacant)Exhibit A – 1.84 +/- AcresParcel #: 52600120008Parcel #: 52600080009 Parcel#52600160000Exhibits, Page 1 of 22814.B.1.aPacket Pg. 479Attachment: 1-Exhibit A, Parcel Information (26960 : CRA Potential Land Sale, Del's Corner,
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Exhibits, Page 2 of 228
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Packet Pg. 480 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
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Exhibits, Page 3 of 228
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Packet Pg. 481 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
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14.B.1.b
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14.B.1.b
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14.B.1.b
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14.B.1.b
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14.B.1.b
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14.B.1.b
Packet Pg. 488 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
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14.B.1.b
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14.B.1.b
Packet Pg. 490 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
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14.B.1.b
Packet Pg. 491 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
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14.B.1.b
Packet Pg. 492 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
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14.B.1.b
Packet Pg. 493 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
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Exhibits, Page 16 of 228
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Packet Pg. 494 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
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Exhibits, Page 17 of 228
14.B.1.b
Packet Pg. 495 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
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Exhibits, Page 18 of 228
14.B.1.b
Packet Pg. 496 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
([KLELW&
,1,7,$/6&+(0$7,&6
Exhibits, Page 19 of 228
14.B.1.b
Packet Pg. 497 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
Exhibits, Page 20 of 22814.B.1.b
Packet Pg. 498 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
PARKING SPACESPRVODED = 70REQ'D @1/3 SEATS = 65DROP OFF AREADROP OFF AREANOTE: OLDSURVEYSHOWN FORREFERENCE25' BUILDINGSETBACK PERZONING CODE9'x18' TYPICALPARKING SPACEExhibits, Page 21 of 22814.B.1.b
Packet Pg. 499 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
([KLELW'
5(&(17$57,&/(6,17+(35(66
Exhibits, Page 22 of 228
14.B.1.b
Packet Pg. 500 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
fl
Exhibits, Page 23 of 228
14.B.1.b
Packet Pg. 501 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
David Garonzik sees the future of the cinema in its past. He wants Naples to see it, too,
in a place he feels was made for it.
Garonzik and his business partner, his wife, Cecilia, are proposing a boutique cinema
on the southeast corner of Thomasson and Bayshore drives that will specialize in
vintage and personally curated films. Its fare would not be the first-run blockbuster,
but the selected classic, sometimes attuned to a special day or season. Events such as
the Naples Winter Wine Festival or Cars on Fifth could bring out a week of movies
themed to their topics.
Garonzik said he’s ready for the quirkiest of observances, such as National Roller
Skating Day, with films centered around, or employing, them.
“I would program a calendar, but absolutely would take suggestions,” he told attendees
at the Bayshore Community Redevelopment Agency meeting Jan. 17, where he
explained his plan to an approving crowd.
“I’m really excited about the fact that it would be located in the heart of the Bayshore
Arts District,” he told the group of around 30 residents.
PLAY ARTICLE
0:00 / 3:27 1X
Exhibits, Page 24 of 228
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Packet Pg. 502 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
The cinema’s first series could appropriately center around a theme of convenience
stores, since it would be on the property that held
a legend on that corner for 55 years. Collier County
bought its four parcels of land comprising 2802 and 2808 Thomasson Drive from the
late Ackerman’s wife. The Garonziks’ company, Naples Cinematheque, is proposing to
buy the land for $2.5 million.
No date has been set yet for a meeting with Collier County commissioners. Garonzik
said the couple is in the process of completing financial backing, “although I would
always welcome someone local. I would love to see local investment in this.” The
architect, acoustician and sound technicians are all set, however, he said.
Garonzik said he is a lifelong film aficionado, a former projectionist to stars in
Hollywood as well as production companies there. It’s been his dream to open a
cinema that programs according to local needs, interests and celebrations.
Exhibits, Page 25 of 228
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Packet Pg. 503 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
Garonzik said he would love to bring films that may have been underrated or discarded
at their openings, but are being given a second look now for their entertainment or
social issue value or the legacy of their stars or directors.
Because of the current intrigue of international politics, he offered “Witness for the
Prosecution” and “Judgment at Nuremberg,” or on the issue of abortion, “Love With a
Proper Stranger.”
Garonzik said the couple is taking their cue from several cinemas that hew to the same
format of themed and rare films: the Film Forum in New York City, and the American
Cinematheque in Los Angeles, which spreads its films among three theaters. Both are
nonprofit organizations.
Naples Cinematheque would hold two 75-seat theaters and an intimate 35-seat space.
A concession stand and full bar are planned to be part of the mix.
Exhibits, Page 26 of 228
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Packet Pg. 504 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
Garonzik sees it as a perfect spot for private party rental as well. People can potentially
rent a themed film for the celebration or screen their own documentaries. He recalled
one man actually proposing to his girlfriend via a documentary he had assembled of
her life and screened for her at a surprise party in one of the Los Angeles venues.
“I just think Naples is the kind of city for something like this,” Garonzik declared.
If he were programming his theater to begin with his favorite films, what would Naples
see? “The ‘Godfather’ trilogy,” he said. “I love those films.”
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broadcast, rewritten or redistributed without prior written consent.
Exhibits, Page 27 of 228
14.B.1.b
Packet Pg. 505 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
2/6/23, 10:30 AM Vintage movie theater looking to open in Bayshore
https://www.naplesnews.com/story/news/local/2023/02/02/vintage-movie-theater-looking-to-open-in-bayshore/69862722007/1/5
LOCAL
Vintage movie theater looking to open in
Bayshore at former Del's location
Pending Collier County approval, CEO David Garonzik is hoping to open Naples
Cinematheque by summer 2024.
Kendall Little Naples Daily News
Published 6:05 a.m. ET Feb. 2, 2023
You might not be able to get snacks 24/7 at Del’s corner in Bayshore anymore, but soon you
may be able to catch a movie that hasn’t been in theaters since the 1960s.
Quentin Tarantino’s former personal film projectionist David Garonzik is hoping to build a
vintage movie theater called Naples Cinematheque on the land where Del’s 24-Hour Food
Store was located. The cinema would show movies that aren’t in theater-circulation anymore,
like silent, foreign, and vintage films.
But Garonzik doesn’t just want to screen movies. He wants to create a unique cinema
experience.
“Every night is a curated event,” Garonzik said.
He’s planning on screening different movies every week and bringing in guest speakers that
worked on the films.
“We have CMX and Silverspot, and other movie theaters, but this is something completely
different,” Naples Realtor Jane Bond said. “This is nostalgia for us. This is something to
bring back an era that's been long gone.”
Garonzik wants to reintroduce films that haven’t seen the big screen in decades.
“The only time I'll do first run is when they no longer become first run,” Garonzik said.
Exhibits, Page 28 of 228
14.B.1.b
Packet Pg. 506 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
2/6/23, 10:30 AM Vintage movie theater looking to open in Bayshore
https://www.naplesnews.com/story/news/local/2023/02/02/vintage-movie-theater-looking-to-open-in-bayshore/69862722007/2/5
Del's and Naples Cinematheque: 'kindred spirits'
Del's 24-Hour Food Store sat at the corner of Bayshore and Thomasson drives in East Naples
for 61 years before being demolished last year. The owner, Del Ackerman, passed away in
2019. His store remained open for another year, but ultimately shut its doors in 2020.
Collier County bought the property from Ackerman's widow for $2.1 million in 2020. The lot
has remained vacant since.
Bond says Naples Cinematheque can be an anchor in the community — just like Del's was.
"It's something that is going to bring light to the community also, just like Del's did," Bond
said. "It had been a historical landmark there for quite some time."
Siobhan Cleveland, owner of Bayshore restaurant the Real Macaw, believes Del's and Naples
Cinematheque are more similar than they appear.
“I know people have a lot of fond memories of Del’s,” Cleveland said. “He was a trailblazer in
his own right and did something unique and special. It’s a totally different business model,
but in a way [Ackerman and Garonzik] are kindred spirits to be doing their own thing and
starting something new.”
Bayshore community: ‘We’re super excited about the idea’
Garonzik pitched his project to Bayshore locals at the Collier County Community
Redevelopment Agency meeting in January. He said he was amazed at the level of
enthusiasm he was met with.
“We weren't sure how the community was going to respond, but they all responded
fantastic,” Garonzik said.
Bayshore resident and jewelry store owner Amanda Jaron says she loves the uniqueness of
Naples Cinematheque.
“I love the fact that it's something to do other than eating and drinking,” Jaron said. “This is
a really great date night thing, and something that's creative and unique to the area.”
Cleveland says the project captures the community’s evolution over the years.
“I think it's really a ringing endorsement of how far we've come in the neighborhood and how
much potential there is left to explore,” Cleveland said. “Bayshore is full of possibility and the
Exhibits, Page 29 of 228
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Packet Pg. 507 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
2/6/23, 10:30 AM Vintage movie theater looking to open in Bayshore
https://www.naplesnews.com/story/news/local/2023/02/02/vintage-movie-theater-looking-to-open-in-bayshore/69862722007/3/5
Cinematheque is really an example of that.”
Garonzik says he knows how tightly knit the community is and that he wants to include locals
in his business.
“I would love to showcase local artwork in the lobby and collaborate as much as possible,”
Garonzik said. “We'll definitely have the standard concessions: popcorn, hot dogs, and then
we would love to absolutely work with local, community vendors.”
Jaron says Naples Cinematheque was accepted by the community because of how special it
is, just like Bayshore is.
“We're super excited about the idea of something unique to the area,” Jaron said. “It’s
certainly something that would enhance the arts here, and it seems to be a perfect fit.”
Jaron and Cleveland both mentioned how the Bayshore Arts District has grown into a place
for artistic people to thrive. Cleveland believes the theater will fit in perfectly.
“I think that the Cinematheque project seems to fit like squarely into that ethos of being
eclectic and unique, yet elevated at the same time,” Cleveland said. “So I think it would
become another special destination attracting visitors to the neighborhood.”
Behind the scenes: ‘Nobody else can do it but David Garonzik’
Garonzik attended film school in Los Angeles after running a small theater in high school
and several cinemas in Washington DC. In L.A., Quentin Tarantino hired Garonzik as his
personal film projectionist for Miramax Films. He spent most of his professional life working
with film festivals and studios.
“I ended up on the production side and the postproduction side of the industry, but my real
love always was film history,” Garonzik said.
After screening movies for filmmakers, actors, and executives during the week, Garonzik
spent his weekends showing vintage films on the screens he managed. “I loved that because
everybody would sit in the lobby and mingle,” he said. “And it was always a great evening.”
So Garonzik decided to make those evenings permanent — in Naples.
Garonzik, his wife Cecilia and daughter Masina recently moved to Naples to make their
project come to life.
Exhibits, Page 30 of 228
14.B.1.b
Packet Pg. 508 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
2/6/23, 10:30 AM Vintage movie theater looking to open in Bayshore
https://www.naplesnews.com/story/news/local/2023/02/02/vintage-movie-theater-looking-to-open-in-bayshore/69862722007/4/5
“I think it's going to be a very beautiful project and I think Naples is going to love it,” Bond
said. “I think the community is going to love it because we have nothing like it. And nobody
else can do it but David Garonzik.”
Opening night: Summer 2024
Naples Cinematheque is still in its pre-planning phase, as county officials have not decided
whether Garonzik can buy the land Del’s once sat on. But Garonzik says even if the “ideal
location” doesn’t work out, he’ll find another place in Bayshore to build the cinema on.
“We definitely want to have sort of a cool art deco look on the outside,” Garonzik said.
For the inside, Garonzik wants guests to experience high quality screening rooms, similar to
the ones he operated in L.A.
“What we're doing would be the equivalent as if you were to walk into the Netflix screening
room or the Warner Brothers screening room,” he said.
Naples Cinematheque will have two larger rooms that seat 75 and one smaller room that
seats 35.
“I believe if it's smaller and cozier, still with the big screen, that puts you in the movie,”
Garonzik said.
Bond says Naples Cinematheque could be operational 12 to 18 months after they break
ground. “We're just trying to get the project up and running and just make sure it comes to
fruition, which I believe in my heart that it is going to come to fruition,” Bond said.
Garonzik is hoping to open the cinema by summer 2024.
Exhibits, Page 31 of 228
14.B.1.b
Packet Pg. 509 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
([KLELW(
EXECUTIVE TEAM SUMMARY
David Garonzik - CEO
David Garonzik was born in Queens, New York, and studied film at Brooks Institute of Photography,
U.C.S.B., and U.C.L.A. Working from his current base in Los Angeles, he has become an important
participant in the world of independent film.
Fascinated by film, David studied to be a skilled projectionist. His first job as a projectionist was in
Washington, DC at the age of 17. He would eventually move on to film festivals, operating dozens of
highly regarded events such as the Hamptons IFF and Palm Springs IFF. It was at Palm Springs that
he was invited by Miramax to manage their new screening room built for Quentin Tarantino.
While running Miramax’s screening room, David screened The Harder They Come for the first time,
and it became a cinema mantra for him. He in turn set out to write and direct a children’s musical set
on the island of Jamaica using the best reggae music. While doing research in Jamaica for this project,
David had the opportunity to meet Perry Henzell, the filmmaker who had changed his life, and in the
process was soon to learn about No Place Like Home, Henzell’s long lost follow-up feature to The
Harder They Come. David was determined to help locate the film’s negative that had been missing
for 30 years. He succeeded, and then went on to organize the restoration and finishing with Henzell
of No Place Like Home. Through his efforts, the film was finally completed and premiered at the
Toronto International Film Festival.
David followed No Place Like Home with the documentary, Man Free. Directed by Kinsey Beck, the
film teamed Garonzik once again with editor Alexis Chavez, who also edited No Place Like Home.
He produced and directed the documentary Perry Henzell: A Filmmaker’s Odyessy, co-directed and
produced with noted filmmaker Arthur Gorson.
The Harder They Come, No Place Like Home and Perry Henzell: A Filmmaker’s Odyessy were all
released as part of a 3-disc special edition by Shout! Factory and which was chosen by the Los Angeles
Times as among the “10 Best of 2019.”
That same year he completed work on the documentary Girl for director Kandeyce Jorden, which
chronicles several of the most important female DJ’s in the EDM community.
David Garonzik currently works for MRC (formerly Dick Clark Productions) managing their
screening and DI facilities. For the past decade he has developed a reputation for being one of the
most in demand screening room operators, having been credited on films like GHOST IN THE
SHELL, the Academy Award winning THE REVENANT, as well many others.
He is happily married and currently lives in Los Angeles, while his 18-year-old daughter has left the
nest and is currently enrolled at Temple University in Philadelphia.
Exhibits, Page 32 of 228
14.B.1.b
Packet Pg. 510 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
Cecilia Garonzik - COO
Cecilia Garonzik was born in Vietnam but moved to Southern California when she was 3. At an early
age, she demonstrated a strong love for fashion and design, which eventually led her to study at Otis
College of Art and Design in Los Angeles, CA.
Cecilia spent 16 years as a Manager, Sales Associate & Fashion Stylist for Minnie T’s, a women’s luxury
clothing boutique located in Santa Monica, CA. Along with developing exceptional customer service
skills and relations, Cecilia was responsible for managing the day-to-day operations of a brick & mortar
business.
Prior to Minnie T’s, Cecilia worked along with her husband, David Garonzik, for several prestigious
and globally recognized international film festivals such as the Palm Springs IFF and the Hamptons
IFF. Managing both the festival’s administrative and hospitality departments, Cecilia had the privilege
of learning all that is needed to operate a film festival.
Currently, Cecilia works as head of customer service for Gallery Dept., a couture meets street wear,
unisex clothing brand headquartered in Los Angeles, CA and recently profiled in the New York Times.
Cecilia has always been in search of a qualitative life, which led her to explore yoga and eventually
becoming a certified yoga instructor. Her 20+ years of yoga practice informed her real talent, that of
being a mother and guiding her 18 year old daughter through college.
Dené Anderberg - Partner & Board Member
Dené Anderberg is a motion picture industry veteran with experience in the distribution, financing,
and production of feature films of various genres. Early in her career, Dené served as VP of Sales and
Operations at Beverly Hills and Paris-based Cinema Management Group (CMG), where she managed
the day-to-day operations, including all financial reporting, legal affairs, sales, and acquisitions, until
her departure in 2018. During that time, she also consulted for a Chinese entertainment firm where
she oversaw strategy, investments, and co-productions.
After departing the near-decade post at CMG, she consulted for sales, financing, and production for
Voltage Pictures. In addition to film, Dené has supported several entertainment related companies in
preparing marketing, due diligence, and capital raises. She spent 2.5 years as CFO of Media Capital
Technologies from initial founding through Series A and during the private equity style film fund raise.
She also serves as executive producer on feature films. Dené’s resides in Los Angeles, CA.
Exhibits, Page 33 of 228
14.B.1.b
Packet Pg. 511 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
Jane Bond - Strategic Advisor, Naples Community & Real Estate Agent
Jane Bond, Broker/Owner of The Bond Agency I Diamond Key Service works with entrepreneurs,
career professionals and individuals in the high-net-worth community generally. Her clients include
celebrities, entertainers, professional athletes as well as many Wall Street finance executives. Working
with clients who demand extremely high levels of excellence from those around them requires Ms.
Bond to bring her A-game at all times.
Armed with a background in finance, entertainment, interior design, international travel and now
luxury real estate, Jane brings a wealth of knowledge and experience to her clients’ disposal. One client
remarked when asked what Jane brings to the table, “quite simply Ms. Bond is the table”. Jane has
taken the client service experience to next level concierge luxury status. Going above and beyond is
simply the beginning.
Whether it is purchasing, listing, or negotiating investment properties for her clients, Jane is always
thinking outside the box. Her ability to see angles and opportunities that others typically miss is a key
weapon in her armory.
Living in a 24/7 global marketplace Ms. Bond is able to seamlessly facilitate transactions for clients
whether located on the East Coast, West Coast or internationally. She always advocates for clients
with the upmost integrity, knowledge, and business acumen.
Jane recently created an online membership for aspiring, new and seasoned agents where she coaches
them from contrast to clarity of the Luxury market.
Outside of real estate Jane is passionate about working underprivileged children and young adults in
the LGBTQ community.
Sean Conrad - Strategic Advisor
Sean Conrad is an accomplished Senior Executive with 20 years of success in the commercial
insurance brokerage industry. Leveraging extensive experience in driving new business and top-line
revenue, brand differentiation, and developing strong networks and partnerships, he is a valuable asset
for organizations and companies experiencing challenges with growth and profitability. His broad
areas of expertise include business development, employee benefits, commercial property/casualty,
executive risk, cyber insurance, marketing, collaboration, tactical planning, leadership, and advising.
Throughout his executive career, Sean has held leadership positions with some of the most respected
brands in the insurance sector, organizations that include Wells Fargo Insurance, Willis Towers
Watson, and Allied Insurance, a Nationwide Company.
Over the last decade, he has helped build a differentiated brand, coached seasoned sales consultants
to higher levels of performance, and placed over $250 million dollars worth of commercial insurance
Exhibits, Page 34 of 228
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Packet Pg. 512 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
premium into the marketplace. He has been recognized as a perennial top performer, earning both
Winner's Circle and Golden Spoke awards for exceptional performance and leadership.
Sean is also a Founding Member of The International Executive Council (IEC).
The International Executive Council (IEC) offers its members exclusive global networking and
educational benefits that can greatly further professional and personal growth in those who share a
passion for technological innovations, and who desire to leverage those relationships, knowledge, and
innovations to leave a lasting legacy for our world.
John Storyk - Acoustic Engineer Advisor
John Storyk is a registered architect and acoustician who, together with wife and business partner Beth
Walters, co-founded Walters-Storyk Design Group (WSDG). Beginning in 1968 with Electric Lady
Studios for Jimi Hendrix in New York City, and founding partner (with wife and business partner
Beth Walters) of Walters-Storyk Design Group. Soon to celebrate his 50th anniversary as an
innovative recording studio designer, he began his career in 1968 with Electric Lady Studios for Jimi
Hendrix in New York City, Storyk and WSDG have produced the provided design, system integration,
and construction supervision services for nearly 4000 professional audio recording and video
production/post-production studios, performance venues, sports venues, houses of worship and
educational facilities. His work includes private studios for Jay-Z, Bruce Springsteen, Alicia Keys,
Whitney Houston, Bob Marley, Aerosmith, Green Day, Goo Goo Dolls and R. Kelly.
Kinsey Beck - Post-Production Service Advisor
A native of Los Angeles, Kinsey began his television career in 1993 as a writer's assistant for Steven
Spielberg's Amblin Entertainment. By 1997 he was director of development for Steve Oedekerk of
the 'Ace Ventura' franchise. In 1999 Kinsey created his frst company 'Kinseyflm Incorporated' to
provide editorial services to the Los Angeles television industry. In 2002 Atlas Digital was founded, a
full-service post facility and by the end of 2004, was generating over 1.2 million in annual revenue.
Selling Atlas Digital in 2005, Kinsey began directing documentaries, completing three, flmed on
location in Palestine, Jamaica, and South-Central LA. Kinsey has flmed in confict zones, been the
creative director of dozens of websites, software applications, and has designed entire postproduction
departments for shows such as 'American Chopper' 'Let's Make a Deal' and 'The Price is Right'.
Continuing with same business model created by Kinsey, in 2021 Atlas Digital grossed over twelve
million dollars while employing over 50 people. Now with over twenty-eight years experience in flm,
television and technology, Kinsey not only brings with him a comprehensive set of skills, but also a
strong entrepreneurial spirit, which he cultivated while starting seven corporations in two separate
countries. Additionally, Kinsey holds a 50 Ton captains license issued by the United States Coast
Guard and has over 3,000 miles as a boat captain with 1,500 solo miles at sea.
Exhibits, Page 35 of 228
14.B.1.b
Packet Pg. 513 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
Michael Golin and Southern California Cinetech - Technical Equipment
Installation Advisor
Founded in 1999 Southern California Cinetech has over twenty years’ experience in the cinema and
studio environment. Our clients include many studios and large theater chains throughout the
country. Working side by side with architects and engineers we have created a one stop shop for
theaters, screening rooms, post houses and specialty venue projects. We are equipped to handle all
aspects of A/V design including project management and value engineering.
Our areas of expertise include movie theaters, mix rooms (stereo/5.1/7.1/Atmos), large and small
format post-level screening rooms, edit bays, color timing rooms, 4K storage workflows, Atmos home
entertainment screening rooms, executive conferences spaces and live audio for events/concerts.
Brian Stubbs - Tamada Consulting Group, Hospitality Advisor
From the San Francisco Bay Area, Brian Stubbs is a well-seasoned and energetic hospitality
professional, with extensive experience in fine dining, luxury resorts and international tourism. He
began his career as a way to put himself through college, earning his stripes in the food and beverage
department at The Phoenician Resort and Spa in Scottsdale, Arizona. He was soon recruited to open
Restaurant Alex at Wynn Las Vegas Casino and Resort, which quickly earned five-star Forbes Travel
Guide and two-star Michelin Guide designations. Brian later joined Forbes Travel Guide as an
incognito hotel, restaurant and spa inspector, verifying luxury standards and performance at the
world’s most prestigious properties. His recent hospitality consultancy projects include luxury
boutique hotels, restaurant groups and top-tier casinos. In addition to his consulting projects, works
as a dining room leader at Gucci Osteria da Massimo Bottura in Beverly Hills, and longtime Abbot
Kinney neighborhood favorite, The Tasting Kitchen in Venice, CA.
Exhibits, Page 36 of 228
14.B.1.b
Packet Pg. 514 Attachment: 2-Exhibit B, Revised LOI Naples Cinematheque Collier County 03.30.23 (26960 : CRA Potential Land Sale, Del's Corner,
Naples Daily News - 04/21/2023 Page : D18
April 21, 2023 10:10 am (GMT -4:00) Powered by TECNAVIA
AY, APRIL 21, 2023 |NAPLES DAILY NEWS +
TO BOOK YO
REAL ESTA
CLASSIFIED AExhibits, Page 37 of 228
14.B.1.c
Packet Pg. 515 Attachment: 3-Exhibit C, Public Notice (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
APPRAISAL REPORT
FOR
BAYSHORE GATEWAY
TRIANGLE CRA
SUBJECT PROPERTY:
DEL’S CORNER
2808THOMASSON DRIVE AND
4825BAYSHORE DRIVE
NAPLES,FL34112
AT THE REQUEST OF:
SHIRLEY GARCIA
PROGRAM MANAGER
BAYSHORE GATEWAY TRIANGLE CRA
3299TAMIAMI TRAIL E., UNIT 103
NAPLES,FL34112
ASSIGNMENT NO.:
6461-TS
APPRAISAL EFFECTIVE DATE:
AUGUST 7,2023
DATE OF REPORT:
AUGUST 21,2023
TRIANGLE CRA
BAAY
Exhibits, Page 38 of 228
14.B.1.d
Packet Pg. 516 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Table of Contents
Carroll & Carroll
Table of Contents
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS ......................................................... 1
CERTIFICATION ..................................................................................................................................... 2
SCOPE OF WORK ................................................................................................................................... 4
DEFINITION OF MARKET VALUE ..................................................................................................... 5
ASSUMED EXPOSURE TIME ................................................................................................................ 5
ESTATE APPRAISED .............................................................................................................................. 6
AREA INFORMATION .......................................................................................................................... 7
MARKET AREA ..................................................................................................................................... 16
PROPERTY INFORMATION ............................................................................................................... 27
SITE DESCRIPTION .......................................................................................................................... 28
SUBJECT PHOTOGRAPHS .............................................................................................................. 34
ENVIRONMENTAL CONTAMINATION .................................................................................... 39
NATURAL RESOURCE CONCERNS ............................................................................................ 40
ZONING .............................................................................................................................................. 41
ASSESSMENT AND TAXES ............................................................................................................ 48
FLOOD ZONE DATA ....................................................................................................................... 49
TRANSACTIONAL HISTORY ........................................................................................................ 50
CURRENT STATUS ........................................................................................................................... 50
HIGHEST AND BEST USE ................................................................................................................... 51
CONSIDERATION OF APPROACHES ............................................................................................. 53
SALES COMPARISON APPROACH ................................................................................................. 54
LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES ............................. 56
VACANT LAND COMPARABLES ................................................................................................ 57
SALES ADJUSTMENT GRID ........................................................................................................... 63
INDICATION OF VALUE ................................................................................................................ 67
ESTIMATE OF VALUE ..................................................................................................................... 67
ADDENDA ............................................................................................................................................. 69
Exhibits, Page 39 of 228
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Packet Pg. 517 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Summary of Important Data & Conclusions
Carroll & Carroll 1
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS
This information is summarized only for convenience. The value given is the final,
rounded conclusion of the appraisal. To use this summary without first reading the
appraisal report could be misleading.
PROPERTY INFORMATION
Property Identification
2808 Thomasson Drive and 4825 Bayshore Drive
Naples, FL 34112
Property Description
A cleared commercial and residential zoned site
containing 80,250 square feet or 1.84-acres located at the
southeast corner of Bayshore Drive and Thomasson Drive
in Naples, Collier County, Florida.
Property Type Vacant Land
Owner of Record Collier County
Property ID # 52600120008, 52600080009, & 52600160000
CLIENT INFO, CONTEXT, & VALUE CONCLUSIONS
Client Bayshore Gateway Triangle CRA
Intended Use To assist in asset management including pricing for sale.
Intended User(s) Bayshore Gateway Triangle CRA
Appraisal Effective Date August 7, 2023
Date of Report August 21, 2023
Date of Inspection August 7, 2023
Purpose of the Appraisal Estimate Market Value
Estate Appraised Fee Simple
Interest Appraised 100%
Estimated Market Value $3,050,000
GENERAL INFO
Appraiser
Timothy W. Sunyog, MAI
State-Certified General Appraiser RZ 3288
Scope of Work All applicable approaches to value were developed.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
None
HYPOTHETICAL CONDITION
None
Exhibits, Page 40 of 228
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Packet Pg. 518 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Certification
Carroll & Carroll 2
CERTIFICATION
I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF:
I personally inspected the subject property and the comparable sales.
The statements of fact contained in this report are true and correct.
The reported analyses, opinions and conclusions are limited only by the reported
assumptions and limiting conditions and our personal, impartial and unbiased
professional analyses, opinions and conclusions.
I have no present or prospective interest in the property that is the subject of this report
and no personal interest with respect to the parties involved.
In the three years immediately prior to acceptance of this assignment I have not
performed any services regarding the subject property as appraisers, or in any other
capacity.
I have no bias with respect to the property that is the subject of this report or the parties
involved with this assignment.
My engagement in this assignment was not contingent upon developing or reporting
predetermined results.
My compensation for completing this assignment is not contingent upon the
development or reporting of a predetermined value or direction in value that favors the
cause of the client, the amount of the value opinion, the attainment of a stipulated result
or the occurrence of a subsequent event directly related to the intended use of this
appraisal.
My analyses, opinions and conclusions were developed, and this report was prepared,
in conformity with the Uniform Standards of Professional Appraisal Practice. I am also
subject to the Code of Ethics and Standards of Professional Practice of the Appraisal
Institute, which includes provisions for peer review.
The use of this report is subject to the requirements of the State of Florida relating to
review by the Florida Real Estate Appraisal Board and to the requirements of the
Appraisal Institute relating to review by its duly authorized representatives.
No one other than the undersigned prepared the analyses, opinions and conclusions
concerning real estate that are set forth in this report.
Exhibits, Page 41 of 228
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Packet Pg. 519 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Certification
Carroll & Carroll 3
As of the date of this report, I have completed the requirements of the continuing
education program of the State of Florida, and for Designated Members of the
Appraisal Institute.
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
Exhibits, Page 42 of 228
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Packet Pg. 520 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Scope of Work
Carroll & Carroll 4
SCOPE OF WORK
All applicable approaches to value were developed and the value conclusion reflects all
known information about the subject property, market conditions, and available data.
The scope of work was:
x Personally inspected and photographed the subject property and inspected each
comparable.
x Reviewed aerial photographs, the Collier County Property Appraiser’s property record
card, land use plans, the Land Development Code, boundary survey, and other
documentation.
x Reviewed how the property relates to its neighborhood and to the broader market area
in development of an opinion of highest and best use.
x Researched the market area for sales and listings of similar properties.
x Developed the sales comparison approach.
x Estimated market value “As Is” of the fee simple interest.
x Prepared an appraisal report summarizing the appraisal assignment, the property
appraised, the application of the appraisal methodology, and the logical support for the
value conclusion.
Sources of market data included local and regional MLS systems, CoStar, LoopNet, the public
records and interviews with real estate brokers.
Exhibits, Page 43 of 228
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Packet Pg. 521 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Definition of Market Value
Carroll & Carroll 5
DEFINITION OF MARKET VALUE
In United States tax law, the definition of Fair Market Value is found in the United States
Supreme Court decision in the Cartwright case:
The fair market value is the price at which the property would change hands between a
willing buyer and a willing seller, neither being under any compulsion to buy or to sell
and both having reasonable knowledge of relevant facts.
United States v. Cartwright, 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S.
Tax Case. (CCH) ¶ 12,926 (1973) (quoting from U.S. Treasury regulations relating to Federal
estate taxes, at 26 C.F.R. sec. 20.2031-1(b)).
ASSUMED EXPOSURE TIME
The reasonable exposure time is assumed to have already occurred as of the appraisal
effective date. The assumed reasonable exposure time was between 4 and 6 months.
Exhibits, Page 44 of 228
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Packet Pg. 522 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Estate Appraised
Carroll & Carroll 6
ESTATE APPRAISED
The estate appraised is the Fee Simple Absolute. For appraisal purposes Fee Simple
Absolute is synonymous with Fee Simple.
The Dictionary of Real Estate Appraisal, Seventh Edition, published 2022 by the Appraisal
Institute, defines Fee Simple Estate as:
Absolute ownership unencumbered by any other interest or estate, subject only to the limitations
imposed by the governmental powers of taxation, eminent domain, police power, and escheat.
We consider easements, but only to the extent that they are known to us. Appraisal of the
fee simple means that an improved property is vacant and available to be put to its highest
and best use.
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Packet Pg. 523 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Area Information
Carroll & Carroll 7
AREA INFORMATION
An analysis of geography, transportation, population, employment, income, and education
for Collier County is performed using data provided by Site to Do Business, Florida Office
of Economic & Demographic, United States Department of Labor, all recognized source(s).
GEOGRAPHY
Collier County is the most southerly county on Florida's west coast offering mainland
coastal development. Collier County is west of Ft. Lauderdale and south of Tampa. With
2,025 square miles of land area, it is the largest county in Florida. About 63% of the land
area is in public ownership, is set aside for environmental preservation, or is scheduled for
public land acquisition.
The region enjoys a climate that is classified as subtropical. Summers are relatively mild,
and winters are usually frost free. A hard freeze is a rarity. The climate, especially in winter,
is one that attracts and is enjoyable to most people.
The geography of the area runs generally northwest and southeast as indicated by the trend
of the coastline. Beaches extend from the northern county line south to Cape Romano and
then, as the coastline trends further to the southeast, beaches give over to mangrove islands
and swamps. Moving northeastward from the beaches, elevations increase very slowly.
Most of the county is less than 15 feet above mean sea level. Although changes in elevation
are gradual, they are well defined by variations in vegetation. Much of the county is, or was
Exhibits, Page 46 of 228
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Packet Pg. 524 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Area Information
Carroll & Carroll 8
once, wetland. The once plentiful marine resources are largely depleted, but still provide
good sport fishing.
Population centers include the coastal communities of Naples, Marco Island and
Everglades/Chokoloskee. Immokalee, the single large interior community, is in north
Collier County and is the agricultural center of the region.
POPULATION
“The social forces studied by appraisers primarily relate to population characteristics. The
demographic composition of the population reveals the potential demand for real estate,
which makes the proper analysis and interpretation of demographic trends important in an
appraiser’s analysis.” The total population, it's composition by age and gender, and the rate
of household formation and dissolution strongly influence real property values. (The
Appraisal of Real Estate 14th Edition)
Collier County’s population has continued to increase year after year. The population has
increased only 0.1% as of 2022 from 2020. The population forecasts through 2027 calls for a
continued steady growth cycle with an estimated 4.4% population growth from 2022 to
2027.
Exhibits, Page 47 of 228
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Packet Pg. 525 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Area Information
Carroll & Carroll 9
Collier County is a popular retirement destination. As of 2022, 55.9% of the County’s
residents are over the age of 45. The 2027 forecasts depict an aging community with 56.5%
of the population 45 years of age or older.
EMPLOYMENT
Collier County is a largely service based economy with 32.1% of the employees in the
leisure, hospitality, education, and health service industries and 26% in professional,
business, financial and other services. Trade, transportation, & utilities along with
government jobs account for 36.4% of the County’s employees. Industries such as natural
resources/mining, construction, and manufacturing make up only 5.5% of the market.
Exhibits, Page 48 of 228
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Packet Pg. 526 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Area Information
Carroll & Carroll 10
The unemployment
rate in Collier County exceeded the state average by a slight margin in the years 2015 and
2016. The unemployment rate then declined through 2020 as the economy improved and,
until recently, Collier County’s unemployment rates decreased more rapidly than the state.
Top 10 Largest Employers SWFL-2022
Rank Company Employees
1 Lee Health 13595
2 Lee County School District 12936
3 Lee County Local Government 9038
4 Publix 8728
5 NCH Healthcare System 7017
6 Walmart 6516
7 Collier County School District 6422
8 Collier County Government 5000
9 Florida Gulf Coast University 3430
10 Arthrex, Inc 3000
Source: SOUTHWEST FLORIDA ECONOMIC DEVELOPMENT
ALLIANCE NOTE: * DATA AS RECENT AS 2018 Q3; ** DATA AS
RECENT AS 2017
Exhibits, Page 49 of 228
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Packet Pg. 527 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Area Information
Carroll & Carroll 11
INCOME
Collier County’s per capita income and median household income levels are higher than state
statistics. The most substantial difference between Collier County and the state is the large
percentage difference in household incomes above $100,000 where Collier County exceeds
the state by over 12%. Collier County's percentage household incomes ranging from $25,000
to $74,999 is slightly lower than the percentage of household incomes in the state, only
mirroring that of the state at $75,000 to $99,000, and from there exceeding the percentage of
the state. Income levels vary greatly within different areas of Collier County, and so will be
discussed in greater detail in the Market Area descriptions.
TRANSPORTATION
The transportation system reflects local geography, population densities and the primary
motivators of tourism, service industry employment, the construction industry, agriculture,
and leisure activities.
ROADS
The earliest roads were coastal, extending from north to south in the early twentieth century
with the first settlers. Principal among these is US-41, commonly referred to as the Tamiami
Trail because it was built to connect Tampa and Miami. Where it passes through the coastal
community US-41 is a four or six lane divided highway with landscaped medians, curb and
gutter, streetlights and often with concrete sidewalks. The Trail is the principal coastal
arterial and one that defines several important boundaries. Often there is a noticeable land
value difference east and west of US-41 because the affluent coastal population prefers to
shop and trade close to home. As the highway turns southeast from downtown Naples
toward Miami the Trail defines the boundary of the coastal management zone which affects
development densities and storm evacuation requirements. The eastern segment of US-41
is a designated national scenic highway popular with tourists, especially during the winter
season as they seek adventure in the Everglades.
A system of asphalt surfaced arterials, major collectors, minor collectors, and neighborhood
streets extend into the urban area east and west from US-41. North-south arterials and
major collectors are established about one mile apart. From west to east, these include
Goodlette-Frank Road, Airport-Pulling Road, Livingston Road, Santa Barbara Boulevard
and Collier Boulevard. The east-west grid is spaced about two miles apart; from north to
south being Immokalee Road (CR-864), Vanderbilt Beach Road (CR-862), Pine Ridge Road
(CR-896), Golden Gate Parkway (CR-886), Radio Road (CR-856), Davis Boulevard (SR-84),
and Rattlesnake Hammock Road (CR-864). Within the urban area all of these are at least 4
lane divided highways.
East of Collier Boulevard the road system reflects the economies of scale of Golden Gate
Estates subdivision (the Estates) where 102 square miles of rural subdivision is supported
by a grid system of paved and unpaved 2 lane streets, with 2 and 4 lane asphalt surfaced
Exhibits, Page 50 of 228
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Packet Pg. 528 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Area Information
Carroll & Carroll 12
major collectors. Golden Gate Boulevard, a 4-lane divided road for five of its eleven miles
east of CR-951, is the principal east-west collector. Everglades Boulevard (2 lane and
asphalt surfaced) is the north-south major collector extending south from Immokalee Road
14 miles to the grade separation at I-75 where it continues into the Picayune Strand State
Forest. Most of the neighborhood streets in Golden Gate Estates are asphalt. Collier
County is planning to extend east-west collectors through the Estates along the alignment of
Vanderbilt Beach Road and somewhere south of Golden Gate Boulevard. A north-south
connection is also planned from the eastern terminus of White Boulevard (Pine Ridge Road)
north to Golden Gate Boulevard.
Interstate highway 75 (I-75) was extended from north to south through Collier County in
the mid-1980s along a flood-proof route about five miles inland. Directly east of the City of
Naples I-75 joins the original alignment of State Road 84 (Alligator Alley) connecting with
Florida's east coast at Ft. Lauderdale. The coastal community I-75 interchanges are spaced
three to four miles apart at Immokalee Road (CR-864), Pine Ridge Road (CR-896), Golden
Gate Parkway (CR-886), and at Collier Boulevard/Davis Boulevard (CR-951/SR-84). Twenty-
one miles east of the coastal community is an interchange at State Road 29; the last
interchange in Collier County. Collier County and the FDOT continue to study the
feasibility of an interchange at Everglades Boulevard.
The advent of I-75 signaled a change in the relationship of Collier County to the rest of
Florida and the United States. While US-41 was the only north-south arterial, Collier
County was dominated by the conservative mid-western influences of seasonal residents
and somewhat isolated from the larger urban areas of Florida. After the late 1980s, road
access to Collier was made much more convenient to the northeast via connections with I-4
and I-95. This had the effect of broadening Collier’s market exposure and it stimulated
growth. The extension of I-75 south into Dade County promoted better access for European
tourists and made Collier County transient lodging attractive for east coast weekenders.
Strategic connections exist where Collier Boulevard and CR-92 extend south and west from
US-41 providing access to the City of Marco Island from the greater Naples area and from
Florida's east coast, respectively. State Road 29 connects the southwest Florida agricultural
center of Immokalee with points north, with the Naples coastal community via CR-846,
with the Ft. Myers coastal community via SR-82, and with US-41 at Everglades City which
is the western gateway to Everglades National Park and the 10,000 Islands region of
Collier's southwest coast.
The road transportation system is well planned, well maintained, and operating at
acceptable capacity. Ambitious road construction projects undertaken in anticipation of
growth projections and funded by impact fees have caught up with development. The road
system reflects Collier's position at the southerly limit of development on Florida's west
coast.
Exhibits, Page 51 of 228
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Packet Pg. 529 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Area Information
Carroll & Carroll 13
MASS TRANSIT
Collier Area Transit (CAT), operated by Collier County Alternative Transportation Modes
Department, provides inexpensive alternative transportation throughout the county linking
major employment centers of Naples with Marco Island and Immokalee. There are several
circulation routes with stops at the County government complex, hospitals, and major
shopping establishments. The system accommodates bicycle transport and personal items.
The same County department administers the Collier Area Para Transit system which
provides subsidized transportation services for the disabled and economically
disadvantaged.
This is a successful and growing system that connects people with jobs, essential services,
and shopping while reducing transportation costs and road congestion.
AIRPORTS
Collier County is supported by a system of five public airports. Southwest Florida
International Airport (RSW) is located in Lee County 25 miles north of Naples; a 45-minute
drive via I-75 from the Collier center of population. This facility serves the five county
southwest Florida regions offering domestic and international air carrier service. It is
modern, convenient, and has planned expansion to keep up with regional growth.
Naples Municipal Airport (APF) owned by the City of Naples and operated by the
independently constituted Naples Airport Authority which derives its revenue principally
from fuel sales. This small airport (about 1 sq. mi.) is located one mile east of downtown
Naples. It serves the coastal community and is especially convenient to affluent residents
who own private aircraft, to the corporate convention business of the large beachfront
hotels, and to essential services like mosquito control, Emergency Medical Services (EMS),
the Sheriff’s office, and private air ambulance services. The two paved runways (5/23 @
5,290’ and 14/32 @ 5,000’) will support jets including the G4 and Challenger series. Naples
airport is tower controlled and fully certified for commercial operations and is home to
several aircraft charter services and flight training schools. In 2005, Naples Municipal
Airport accommodated 163,434 aircraft operations, a record high. Annual operations
decreased by nearly 50% from 2005 to 2011. The total operations for 2020 were 104,479,
which is a 5.2% increase from the previous year. Due to its downtown location, Naples
airport has restricted operations of the noisiest jet aircraft and is at the leading edge of noise
abatement measures.
The Collier County Airport Authority owns and operates airports at Marco Island, in
Everglades City, and at Immokalee. These are primarily funded through fuel sales and
hangar leases. Marco Island Airport (MKY) is a very small (64.47 acres) general aviation
facility on the mainland four miles northeast of Marco Island. The single paved runway
(17/35 @ 5,000') will support light jet traffic. Hanger and ramp space is very limited. Fuel is
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Packet Pg. 530 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Area Information
Carroll & Carroll 14
available. This airport is convenient to Marco Island residents and to the corporate
convention business of the Island hotels. Immokalee Regional Airport (IMM) is one mile
east of Immokalee and 35 miles by road northeast of Naples. This 2 square mile airport has
two paved 5,000-foot runways (18/36 and 09/27) a third diagonal runway is now used as a
weekend drag racing strip. The airport is in the Florida Rural Enterprise Zone and a HUB
Empowerment Zone. A 60-acre zone in and around the airport is a designated Foreign
Trade Zone. To date, the economic potential of this airport is largely unrealized. However,
the field is active as a training destination for coastal-based flight schools, it hosts aerial
firefighting and crop-dusting operations, and it bases numerous private aircraft. The
Everglades Airpark (X01) is a light duty general aviation facility of 29.14 acres that is within
walking distance of downtown Everglades City. The single paved strip (15/33 @ 2,400')
supports itinerant coastal traffic and half a dozen-based aircraft. Fuel, a comfortable pilot
center and bicycles are available.
The aviation community Is well supported. The greater Naples area is the beneficiary of the
winter season influx of corporate executives and affluent individuals who can afford luxury
private jet travel.
MARINE TRANSPORTATION
There is no deep-water port and no commercial marine activity other than that associated
with commercial fishing, charter sport fishing, and the marine towing services that support
the pleasure boat industry. The controlling depth to the municipal dock in Naples Bay is six
feet at mean low water. The US Coast Guard maintains a dredged and well-marked
intracoastal waterway from the head of Naples Bay to Coon Key southeast of Marco Island.
Local geography requires vessels northbound from Naples to transit 30 miles of the Gulf of
Mexico before returning to the sheltered intracoastal system at Sanibel Island. According to
the Marine Industries Association of Collier County, as of early 2018 there were 57,685
registered vessels in Southwest Florida. In 2022, Florida registered over 1 million
recreational boats. Seasonally, excursions from Marco Island to Key West and from Ft.
Myers Beach to Key West are scheduled daily.
EDUCATION
The Collier County School District provides public education to about 47,000 students
encompassing grades K-12 and employs almost 7,000 people of which 3,200 are teachers.
The district has 51 public schools consisting of 31 elementary, 10 middle, 8 high schools, one
K-12 (Everglades City School), and 1 virtual school. There are also 12 alternative school
programs and two technical colleges, Lorenzo Walker Technical College, and Immokalee
Technical College, which offer short term and long-term training to adults and high school
students.
Between 2015 and 2020, the school district had an overall population growth of more than
6,000 students but recently student population growth has leveled off and slightly
Exhibits, Page 53 of 228
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decreased. The student population is a diverse culture. 55% of students live in homes where
English is not the first language. Students come from 76 different countries of origin and
speak 104 different languages.
Collier County School District continues to receive an “A” grade by the State of Florida
Department of Education. The district and all schools are accredited by the Southern
Association of Colleges and Schools Council. Collier County is the leader in Florida in
educational technology. It is also a leader in advanced educational programs, offering dual
enrollment and Advance Placement courses, Cambridge Advanced International Certificate
of Education and Laureate diplomas. Career training is available through 32 career
academies.
In addition to the public-school system, there are numerous private schools throughout the
county. Approximately, 16% of all K-12 students in Collier County are educated in private
schools.
Collier County is also home to several colleges and accredited universities. Three colleges
have campuses in Collier County: Ave Maria University, Keiser University and Florida
Southwestern State College (formerly Edison Community College). Ave Maria University is
a private catholic university that offers both undergraduate and graduate programs
including a law school has around 1,245 students. Keiser University is a private university
that offers both undergraduate and graduate programs to over 17,990 students throughout
20 campuses in Florida and an online learning program. Florida Southwestern State College
with campuses in Naples, Punta Gorda, and Ft. Myers, offers both two-year and four-year
degree programs for 14,714 students. Formerly located in Naples, now in Fort Myers,
Hodges University is a private four-year college that offers bachelor’s and master’s degrees
in 20 disciplines for around 1,676 students. Nearby Florida Gulf Coast University (located
in southern Lee County) is one of the state's fastest growing institutions and home to over
16,000 students.
CONCLUSION
At the southerly limit of urban development on Florida's west coast, Collier County offers
the climate, natural resources, and sporting opportunities to support a superb retirement
community. The quality of infrastructure, schools, and social services is what one would
expect of such an area. We are experiencing a surge in new development projected to take
us through the next several years. In the long term, the attractions of the climate and
location, and the stability of fixed-account affluence promise continuing prosperity
although probably without the strong emphasis on new development.
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MARKET AREA
Market Area is defined as:
“The geographic region from which a majority of demand comes, and in which the
majority of competition is located.” (The Dictionary of Real Estate Appraisal 7th Edition)
“A combination of factors – e.g., physical features, the demographic and socioeconomic
characteristics of the residents or tenants, the condition of the improvements (age,
upkeep, ownership, and vacancy rates), and land use trends.” (The Appraisal of Real
Estate, Fifteenth Edition)
A market area includes those surrounding land uses which impact the value of a property
and it can encompass one or more neighborhoods or districts. An appraiser focuses on the
market area in analyzing subject property value influences.
BOUNDARIES
The subject property is located within the South Naples area. For appraisal purposes, the
market area boundaries are shown below:
¾North Radio Road
¾South Marco Island
¾East Picayune Strand State Forest
¾West Naples Bay
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Environmental Influences
This area is desired because of mild winter weather and easy access to miles of beaches.
The Naples area is one of the very few in Florida that offers adequate public access to a
mainland beach. The subtropical weather allows for year-round recreational opportunities.
Boating and swimming are popular activities and boating is supported for seasonal
residents and tourists by local marinas and charter boats. Bicycling, walking, and jogging
are supported by an extensive network of connected biking and walking paths. Multiple
tennis and pickle ball courts are available, as well as fitness centers. Collier County has
more golf courses per capita than most areas in the United States and the majority of the
courses in Collier County fall within this market area.
South Naples is known for its clean environment and healthy lifestyle. Development has
occurred in such a way that the open-space and lush landscaping give the appearance of a
well-manicured, tropical paradise.
Governmental Influences
This market area is governed by Collier County Board of County Commissioners which
serves as chief legislative body and five constitutional officers: sheriff, clerk of courts, tax
collector, supervisor of elections, and property appraiser. County government is managed
by a strong county manager structure. Collier County provides services which range from
average to high quality. However, Collier County is known for being a difficult county for
building and development. The tax burden in Collier County is lower than the national
average.
County government has zoning, and comprehensive plan ordinances designed to protect
the character and values of property; to protect and enhance economic development; and to
maintain and enhance the attractive nature of the area.
Public services include fire protection, solid waste disposal, potable water, sanitary sewer
service and storm water drainage. Public/private companies proved adequate services for
electricity, cable, and internet. Community support facilities such as schools, parks,
churches, shopping, and places of employment are all located within this market area.
Collier County Sheriff Department provides full range of services for Collier County.
According to the statistics listed by Florida Department of Law Enforcement, Collier
County crime index falls in the lowest 16% of all counties in Florida and crime rate has
decreased nine out of the past ten years. About 78% of all crime is either burglary or
larceny. The county averages are representative of conditions in South Naples.
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Transportation
This market area is served by several arterial roadways. All are six-lane divided highways
with beautifully landscaped medians. Improvements include street lighting and concrete
curb and gutter. North-south arterial roadways include Airport-Pulling Road which serves
the western portion of this market area; Santa Barbara Boulevard which connects
Rattlesnake Hammock Road to Immokalee Road; and Collier Boulevard (SR-951) connects
Immokalee Road to Marco Island. East-west arterials include Tamiami Trail East (US-41
East), Davis Boulevard, and Rattlesnake Hammock Road. Davis Boulevard and Collier
Boulevard provide direct access to Interstate I-75.
Davis Boulevard connects the downtown Naples area with Collier Boulevard and the I-75
interchange. Development along Davis Boulevard west of Airport Road (within the
Bayshore/Gateway Triangle Redevelopment District) is older intensive commercial that is
going through a revitalization. Development east of Airport Road is primarily residential
with scattered commercial clustered around the major intersections.
Tamiami Trail (US-41) is the original highway from Tampa to Miami through Naples.
Tamiami Trail East is almost entirely developed with a mixture of average quality
commercial and single/multi-family residential. Major commercial developments exist at
almost every intersection.
Collier Boulevard (CR-951) is a major arterial linking Marco Island in south Collier County
with Immokalee Road near the north county line. The Collier Boulevard thoroughfare
anchors a grid of arterial roads spaced about 2 miles apart, that serve the greater Naples
coastal community which lies to the west. Development along Collier Boulevard is a
mixture of single/multi-family residential, office, light industrial, institutional, retail and
medical with clusters of commercial development at the intersections of Davis Boulevard,
Rattlesnake Hammock Road and Tamiami Trial East.
Interstate I-75, which connects Collier County to both North Florida and Florida’s east
coast, serves this entire market area and access is provided by two interchanges.
The arterial road system is laid out in a grid pattern that provides adequate traffic flow to
all areas of the county. Commercial development exists at every major intersection; but,
the intersections are designed with proper turns lanes and signaling to provide for
adequate traffic movement. The road network easily handles traffic demand in the off-
season, May through December. Traffic more than doubles in January, February, March
and April because of seasonal residents and tourists. Even with exceptionally heavy traffic,
the road network usually handles peak traffic demand without major delays.
Public transportation is provided by a county transit bus services.
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Naples Municipal Airport is located outside the market area, but is easily accessed by any
resident of South Naples. The airport is City owned, but operated by the independent
Naples Airport Authority. It serves private and commercial aviation, as well as aviation
related activities. It supports government services, such as, Mosquito Control District and
Collier County Sheriff’s aviation unit.
Social Influences
South Naples is primarily built out with scattered parcels of undeveloped land. Vacant lots
in residential developments vary based on the age of the development. South Naples was
one of the first areas to develop and so construction has occurred over the past 90 years. US
Census Bureau, Esri forecasts, 2022 population is 84,621 with a projected growth to 89,525
(5.8% growth) by 2027. This area also increases seasonally about 20% during the winter
months, according to Collier Business & Economic Development.
The median age is 55.5, with 50.6% of the population being 55 and older. A total of 34%
have a bachelor’s or professional degree and 25.2% have some college education. There is
an average degree of community involvement through civic organizations, neighborhood
groups, social service organizations and political committees.
The Naples cost of living is KLJKHU than the average cost of living in the United States.
Conversely, Florida has a cost of living that is ORZHU than the US average. Of the 25 locations
included in the Economic Policy Institute's dataset for Florida, Naples-Marco Island is the
VW most expensive. In Naples, KRXVLQJ is the category with the highest index (21% above
national average), while WD[HV are the category with the lowest index (15% below national
average). (Ref. Careertrends.com; cost of living analysis). South Naples has some of the
highest density of affordable housing units in Collier County, but because of the high cost of
living, home values can still be out of reach for many moving into Collier County.
One of the main driving forces impacting growth in this area is the quality of schools. This
market area has 7 public schools; one high school, one middle school, and five elementary
schools. All schools received a C or higher rating in the last grading period and all have at
least 70% minority and economically disadvantaged student enrollment. Three of the
schools have over 90% minority student enrollment.
As reflected in the data, Naples is primarily populated by active, affluent, and highly
educated people attracted by the environmental influences stated earlier. Other deciding
factors include the availability of several cultural, fine arts, and educational opportunities
and a multitude of fine dining restaurants. Also, the professional services that they require,
such as financial, medical, retail, and recreational, are conveniently available.
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Economic Influences
One of the original settlement areas, South Naples has seen substantial growth over the last
twenty years primarily due to urban sprawl and density restrictions inherent within the city
limits. The population increased 22.88% over the last 12 years and is forecast to increase an
additional 5.8% over the next five years or an annual rate of 1.13%. This trend is consistent
with the past 12 years and should continue into the near future as new development
continues along the eastern edge of this market area.
The residential population is dominated by working class residents and retirees.
Comparatively, incomes within this market area are less than the county average. The
median household income is $70,159 which is approximately 17.7% lower than the county’s
median household income of $85,162. In the market area, 32.6% of the households have
annual incomes greater than $100,000.
Development trends:
Residential
Residential development density varies from less than 1 unit per acre in rural fringe
development areas, to as high as 15 units per acre in the multi-family projects. The typical
density is 3 to 4 units per gross acre. Development in this neighborhood varies greatly from
dense, low income, non-deed restricted communities, to large, bundled golf communities
marketed towards retired persons with financial resources adequate to own more than one
home. Residential density increases within closer proximity to downtown Naples.
Development continues to push further east as vacant land becomes more scarce.
Containing 2,893 acres, and encompassing the area located between Collier Boulevard and
Tamiami Trail East (south of Rattlesnake Hammock Road) Lely Resort is the largest planned
development in the South Naples area. This mixed use development contains 3,195
residential units, 241,141 square feet of commercial development and three 18-hole golf
courses.
The average home value in the market area is $405,988 which is considerably less than the
County’s average home value of $567,449. Only 3.3% of homes are valued more than
$1,000,000 A total of 28.2% of the homes are valued between $300,000 and $399,000. The
total number of housing units in the market area is 61,068, of which 47.5% are owner
occupied, 16.5% renter occupied and 36.0% vacant. Vacancy includes seasonal rentals.
There has been a residential boom in this market area over the past five years with new
development occurring in The Isles of Collier Preserve, Treviso Bay, Lely Resort, Fiddler’s
Creek, and Verona Walk. New development continues in Hacienda Lakes (1,760 units),
Winding Cypress (2,300 units), Naples Reserve (1,154 units), and Oyster Harbor in Fiddler’s
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Creek (1,000 units). Once built out the new developments will add over 6,000 new units to
this area in addition to any future development not yet planned.
The residential boom has also occurred in the multi-family sector, specifically the apartment
market. Over the past five years a total of 2,500+ apartment units have either been
delivered, are under construction, or are in the planning stages within the South Naples
market area.
Commercial
Commercial development in this market area includes banks, office buildings, industrial,
professional offices/medical, retail centers, restaurants, hotels and anchored shopping
centers. Reflecting the overall characteristics of the surrounding residential the existing
commercial development is a mixed bag consisting of both older and newer projects. The
commercial development exists primarily along the Tamiami Trail East corridor, the
Bayshore/Gateway Triangle, as well as the main commercial intersections of Davis
Boulevard/Collier Boulevard, Tamiami Trail East/Rattlesnake-Hammock Road, and
Tamiami Trail East/Collier Boulevard.
The intersection of Tamiami Trail East and Collier Boulevard is transitioning into the most
commercialized intersection in the market area due primarily to the number of new and
proposed residential units in the area as well as the supporting Marco Island population.
Existing development consists of a Walmart, Lowes, a Publix anchored shopping center,
and Fresh Market anchored center as well as many national banks, gas stations, pharmacies,
and restaurants occupying the outparcels. Proposed development includes various retail
plazas, gas stations, restaurants. A 120,000 square foot retail plaza with tenants of Stein
Mart, Petsmart, Ulta, Ross, Marshalls, and Michaels is the newest addition completed.
Closer to downtown Naples, a significant portion of the Bayshore/Gateway Triangle was
recently purchased by two local developers. The proposed development, known as
Metropolitan Naples will feature a mix of housing, retail and entertainment in up to three
towers, each as tall as about 15 stories. The zoning allows for up to 377 residential units, 228
hotel rooms and a maximum of 200,000 square feet of commercial uses, which could include
restaurants, coffee shops, bars and a movie theater.
Medical
Physicians Regional Medical Center, located near the intersection of Collier Boulevard and
Rattlesnake Hammock Road, is a 212,400 square foot, 100 bed hospital along with a separate
94,000 square foot medical office building. This is one of the county's four major medical
centers. The hospital offers a 24-hour emergency department that provides a full range of
traditional emergency services.
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Because of strong demand for medical services, several health parks or medical centers have
been built or are proposed within this market area.
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The services and retail industries dominate the market area business sector. Approximately
18.3% of employees are in the Government sector due to the fact the Collier County
Government Center is located within the market area.
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MARKET AREA LIFE CYCLE
Market areas often pass through a four-stage life cycle of growth, stability, decline, and
revitalization.
x Growth – A period during which the market area gains public favor and acceptance.
x Stability – A period of equilibrium without marked gains or losses
x Decline – A period of diminishing demand
x Revitalization – A period of renewal, redevelopment, modernization and increasing
demand.
The majority of the real estate activity in South Naples reflects the growth cycle. The
residential and commercial markets continue to be strong. The growth cycle is expected to
continue into the near future. The western portion, closest to the coastal community, is in a
period of revitalization. This is the location of the oldest development, so properties are
prime for modernization and, as the City builds out, the pressure to redevelop eastwardly
increases.
CONCLUSION
This continues to be one of the most affordable market areas within Collier County. Within
close proximity to the beaches and downtown Naples, this area appeals to a variety of
retirees and working-class families. Development continues to push east with future
emphasis on redevelopment. One of the leading catalysts for the coming redevelopment
stage will be the Bayshore/Gateway Triangle that could take shape within the next couple of
years with construction underway. South Naples will likely continue to enjoy a healthy
growth while maintaining its affordability.
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PROPERTY INFORMATION
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SITE DESCRIPTION
Legal Description/Easements Lots 1, 2, 3, and 4, Jonesville, according to the plat
recorded in Plat Book 4, Page 41, Public Records of Collier
County, Florida.
Based on the provided boundary survey the site does not
appear to be encumbered by any easements.
Property ID# 52600120008, 52600080009, & 52600160000
Owner of Record Collier County
Size The size is based on a boundary survey conducted by E.F.
Gaines Surveying Services, Inc. with issue dates of 5/17/21
and 1/10/22.
80,250 Square Feet or 1.84 Acres
The site contains 52,750 square feet of commercially
zoned land located at the southeast corner of Bayshore
Drive and Thomasson Drive. The residential portion
(separate parcel) contains 27,500 square feet and is located
along the eastern boundary of the site.
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Shape Rectangular
Frontage The site fronts for approximately 275 feet along the east
side of Bayshore Drive and for approximately 292 feet
along the south side of Thomasson Drive. The intersection
is not signalized, but the overall exposure is good.
Access The site offers full-service access from both Bayshore
Drive and Thomasson Drive. Overall, access is good.
Topography Level and at road grade.
Utilities The full range of public utilities including sewer, water,
electricity, telephone and TV cable are available.
Adequate capacity exists to support full utilization of the
site.
Concurrency The service levels along the adjacent road system are
within acceptable limits as defined by Collier County.
There are no concurrence issues adversely affecting this
property.
Surrounding Land Uses The subject is bounded to the north across Thomasson
Drive by vacant multi-family land that is proposed to be
developed with 127-mulit-family units and to the east by
a recently completed 20-unit multi-family building, and to
the south by older single/multi-family residential.
Located to the west across Bayshore Drive is a building
owned by the Naples Botanical Gardens. Located at the
northwest corner of Thomasson Drive and Bayshore
Drive is Arboretum, a residential community being
developed by Mattamy Homes. Upon completion there
will be 244 units including coach homes and attached
villas.
Demographics (2023) 2-mile 5 10
Population 22,235 90,929 218,198
Households 9,391 40,513 95,780
Median HH Income $58,600 $65,033 $74,760
Median Home Value $258,847 $320,765 $370,398
Traffic Counts (AADT) 2022 The average daily traffic counts for Bayshore Drive, north
of Weeks Avenue:
3Q 2022 12,259 vehicles
2Q 2022 16,909 vehicles
1Q 2022 16,801 vehicles
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Site Improvements The site is improved with asphalt paved parking lots,
gravel parking areas, a chain-link fence with rolling gate,
parking lot lights, and minimal landscaping.
The property is also improved with a two-story CBS
structure that was previously utilized as an office and
storage/repair facility. The structure was built in 1992
and is designed with a wood frame gable roof finished
with asphalt shingles. I did not physically inspect the
inside of the building, but the overall structure appears to
be in average condition.
The improvements don’t generate net income sufficient to
support the land value and they are an
underimprovement of the site. Due to the redevelopment
potential, the improvements are considered a short-term
interim use contributing little to no value.
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SUBJECT PHOTOGRAPHS
View to the west along Thomasson Drive.
View to the east along Thomasson Drive.
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View to the north along Bayshore Drive.
View to the south along Bayshore Drive.
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View to the southeast from the northwest corner.
View to the east from Bayshore Drive.
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View to the south along the western border.
View to the southeast from Thomasson Drive.
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View to the south along the eastern border.
View to the southwest from the northeast corner.
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ENVIRONMENTAL CONTAMINATION
Observed Contamination None
Noted Concerns This is a factor of unknown risk. No obvious
evidence of contamination was observed during the
inspection.
Environmental Assessment
Available
No
Impact on Value None
Disclaimer Unless otherwise stated in this report, the existence
of hazardous substances or environmental
conditions including but not limited to asbestos,
polychlorinated biphenyls, petroleum leakage,
agricultural chemicals, urea formaldehyde
insulation, lead paint, toxic mold, et cetera, which
might or might not be present in or on the property
were not called to the attention of the appraiser.
Such tests were not in the appraiser's required
scope of work, the appraiser is not qualified to test
for such substances and conditions and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any such conditions that might exist,
or for the knowledge and expertise required to
discover them.
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NATURAL RESOURCE CONCERNS
Condition of subject The entire site is cleared or developed.
Noted Concerns None
Natural Resource Audits Available No
Impact on Value None
Disclaimer
Specialized natural resource audits were not in the
appraiser’s required scope of work, the appraiser is
not qualified to conduct such audits and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any extraordinary natural resource
concerns, or for the knowledge and expertise
required to discover them.
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ZONING
Ordinance or Land
Development Code
Collier County
Parcel #52600120008 and the north half of Parcel #52600080009
Zoning “C-5–BZO-NC” - Heavy Commercial District
Purpose or Intent of Zoning The Heavy Commercial District (C-5) allows a range of
more intensive commercial uses and services which are
generally those that tend to utilize outdoor space in the
conduct of business. C-5 district permits heavy
commercial services such as full-service automotive
repair and construction-related activities. This district
allows all uses permitted in the C-1 through C-4 districts.
Below are the development requirements as set forth in
the C-5 Zoning District:
Minimum Lot Area: 10,000 square feet
Minimum Lot Width: 100 feet
Minimum Front Yard Setback: 25 feet minimum
Minimum Side Yard Setback: 25 feet residential
15 feet non-residential
Minimum Rear Yard Setback: 25 feet residential
50% of building height,
not less than 15 feet non-residential
Maximum Building Height: 35 feet
BZO-NC - Bayshore Zoning Overlay District –
Neighborhood Commercial Subdistrict - The purpose
and intent of this subdistrict is to encourage a mix of low
intensity commercial and residential uses, including
mixed use projects in a single building. This subdistrict
provides for an increased presence and integration of the
cultural arts and related support uses, including
galleries, artists' studios, and live-work units.
Developments will be human-scale and pedestrian-
oriented.
The maximum density is 12 units per acre comprised of
density allowed by the underlying zoning district and
available density bonuses. The maximum building height
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6461 Report Property Information
Carroll & Carroll 42
is 42 feet for residential and civic/institutional uses and 56
feet for mixed-use and commercial buildings.
The south half of Parcel #52600080009
Zoning “C-3–BZO-NC” – Commercial Intermediate District
Purpose or Intent of Zoning The Commercial Intermediate District (C-3) provides for
a wide variety of goods and services and opportunity for
comparison shopping. C-3 district is located in areas
expected to receive heavy automobile traffic, preferably at
the intersection of two-arterial level streets, and has a
trade area consisting of several neighborhoods. This
district allows all uses permitted in the C-1 and C-2.
Below are the development requirements as set forth in
the C-3 Zoning District:
Minimum Lot Area: 10,000 square feet
Minimum Lot Width: 75 feet
Minimum Front Yard Setback: 50% of building height,
not less than 25 feet
Minimum Side Yard Setback: 25 feet residential
50% of building height,
not less than 15 feet non-residential
Minimum Rear Yard Setback: 25 feet residential
50% of building height, not less than 15 feet non-
residential
Maximum Building Height: 50 feet
BZO-NC - Bayshore Zoning Overlay District –
Neighborhood Commercial Subdistrict
Parcel #52600160000
Zoning “RMF-6–BZO-R2” – Residential Multi-Family 6 District
Purpose or Intent of Zoning The purpose and intent of the RMF-6 district is to
provide for single-family, two-family and multi-family
residences having a low profile silhouette, surrounded by
open space, being so situated that it is located in close
proximity to public and commercial services and has
direct or convenient access to collector and arterial roads
on the county major road network. The RMF-6 district
corresponds to and implements the urban mixed use land
use designation on the future land use map of the Collier
County GMP. The maximum density permissible in the
RMF-6 district and the urban mixed use land use
Exhibits, Page 81 of 228
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Packet Pg. 559 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Property Information
Carroll & Carroll 43
designation shall be guided, in part, by the density rating
system contained in the future land use element of the
Collier County GMP. The maximum density permissible
or permitted in the RMF-6 district shall not exceed the
density permissible under the density rating system,
except as permitted by policies contained in the future
land use element.
BZO-R2 - Bayshore Zoning Overlay District –
Residential Subdistrict 2 - The purpose of this
subdistrict is to allow for a variety of housing types and
encourage the development of multi-family residences
as transitional uses between commercial and single-
family development. The multi-family buildings shall be
compatible with the building patterns of traditional
neighborhood design. Maximum density is limited to
the maximum density allowed by the underlying zoning
district and any available density bonuses.
This lot is also designated as an accessory parking zone
(APZ). Lots adjacent to the Neighborhood Commercial
(BZO-NC), Waterfront (BZO-W) and Mixed Use (GTZO-
MXD) Subdistricts, designated Accessory Parking Zoning
(APZ) as identified on the Collier County Zoning Map,
may be used for off street parking or water retention and
management areas, in the following manner: As an
accessory use to an adjacent non-residential principal use
under the same ownership or legal control; or as a public
parking lot designated as a principal use. A buffer must
be provided between the APZ and adjacent residential
lots as provided in LDC section 4.02.16 E.2.a.i.
Copies of pertinent sections of the Comprehensive Plan and Land Development Code are
included in the Addendum.
Exhibits, Page 82 of 228
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Packet Pg. 560 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Property Information
Carroll & Carroll 44
Exhibits, Page 83 of 228
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Packet Pg. 561 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Property Information
Carroll & Carroll 45
Exhibits, Page 84 of 228
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Packet Pg. 562 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Property Information
Carroll & Carroll 46
FUTURE LAND USE
Ordinance or Plan Collier County
Future Land Use Designation Bayshore/Gateway Triangle Redevelopment
Purpose of Designation The intent of the Bayshore/Gateway Triangle
Redevelopment program is to encourage the
revitalization of the Bayshore/Gateway Triangle Area by
providing incentives that will encourage the private
sector to invest in this urban area. This Overlay allows for
additional neighborhood commercial uses and higher
residential densities that will promote the assembly of
property, or joint ventures between property owners,
while providing interconnections between properties and
neighborhoods. The intent of this Overlay is to allow for
more intense development in an urban area where urban
services are available.
Exhibits, Page 85 of 228
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Packet Pg. 563 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Property Information
Carroll & Carroll 47
Exhibits, Page 86 of 228
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Packet Pg. 564 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Property Information
Carroll & Carroll 48
ASSESSMENT AND TAXES
By statute, real estate in Florida is assessed at 100% of fair market value as of January 1st
of the tax year. Since annual tax assessments are based on sales from previous years,
depending upon market trends, assessed values can fall on either side of the current
market value estimate. The tax assessment is usually not a reliable indicator of market
value.
Parcel Tax ID 52600120008, 52600080009, & 52600160000
Assessment and Tax Year 2022
Combined Land Assessment $2,314,511
Improvement Assessment $264,516
Combined Total Assessment $2,579,027
10% CAP ($996,693)
Exemption $0
Taxable Value $1,582,334
Taxes (March Payment) $0 (Tax exempt)
Taxing Authority/Jurisdiction Collier County
The combined land is assessed at $28.84 per square foot, which is consistent with other
similar parcels along Bayshore Drive, but is less than my estimate of market value.
The parcel is owned by a government entity and therefore is tax exempt.
Exhibits, Page 87 of 228
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Packet Pg. 565 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Property Information
Carroll & Carroll 49
FLOOD ZONE DATA
Flood Zone AE-7
Flood Zone Comments Zone AE – Areas of inundation by the 1%
annual-chance flood, including areas with
the 2% wave run-up, elevation less than 3
feet above the ground, and areas with
wave heights less than 3 feet. The required
flood elevation is 7 feet.
Community Panel Number 12021C0582H
Revised May 16, 2012
Source National Flood Insurance Program
Flood Insurance Rate Maps
Exhibits, Page 88 of 228
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Packet Pg. 566 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Property Information
Carroll & Carroll 50
TRANSACTIONAL HISTORY
Sales History Collier County acquired the property from
Theresa Ackerman on November 6, 2020 for
a price of $2,118,000 or $1,151,087 per gross
acre or $26.40 per gross square foot of land
area. The transaction was recorded in OR
Book 5848 Page 493 of the Public Records of
Collier County, Florida.
The sale was verified with Roosevelt
Leonard, Sr. Review Appraiser with Collier
County Facilities Management/Real
Property. He verified the sale price and the
arm’s-length nature.
The residential and commercial markets
have continued to improve, and values have
been increasing, especially in and around
the subject. Therefore, the prior sale is not
an indicator of current market value.
There have been no transactions or transfers
of ownership in the previous three years.
CURRENT STATUS
Subject Listed for Sale No
Subject Under Contract No
Subject Under Lease No
Exhibits, Page 89 of 228
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Packet Pg. 567 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Highest and Best Use
Carroll & Carroll 51
HIGHEST AND BEST USE
DEFINITION
The Dictionary of Real Estate Appraisal, 7th Edition, published 2022 by the Appraisal
Institute, defines Highest and Best Use as:
The reasonably probable use of property that results in the highest value. The four criteria that the
highest and best use must meet are legal permissibility, physical possibility, financial feasibility,
and maximum productivity.
METHOD
There are four criteria that must be met in order for a use to be the highest and best use for a
given property. The highest and best use must be:
x Legally permissible.
x Physically Possible.
x Financially feasible.
x Maximally productive.
Ordinarily these criteria are considered sequentially, each step narrowing the range of
alternative uses being considered.
ANALYSIS
SITE AS THOUGH VACANT
Legally Permissible: The Growth Management Plan and the zoning ordinance are
consistent in identifying the majority of the property for a commercial type use. The site
meets the minimum requirements for development. The 27,500 square foot lot located
along Thomasson Drive is zoned RMF-6 and could be developed with either a single-
family residence, multi-family structure, or may be used for off street parking or water
retention and management areas given its accessory parking zone overlay.
The BZO-NC - Bayshore Zoning Overlay District – Neighborhood Commercial Subdistrict
promotes mixed-use development (residential over commercial) with a maximum
density of 12 units per acre comprised of density allowed by the underlying zoning
district and available density bonuses. The maximum building height is 56 feet for mixed-
use and commercial buildings.
Physically Possible: The physical location, shape/size, topography and access
characteristics suggest some type of commercial or mixed-use on the commercially zoned
lots. The exposure from the corner location at the intersection of Bayshore Drive and
Thomasson Drive argues for a more intense commercial or mixed-use (retail use would be
most appropriate on the first floor, followed by residential development on the upper
Exhibits, Page 90 of 228
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Packet Pg. 568 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Highest and Best Use
Carroll & Carroll 52
floors). The RMF-6 lot could be developed with a single-family residence, multi-family, or
associated parking or water retention for the commercial lots.
Financially Feasible: The financial feasibility of medical and office development is
doubtful. The office and medical market is in recovery, with rental rates increasing, but
rental rates are not currently at a feasibility level to justify new construction in this
location. Recent development/redevelopment is driven almost exclusively by owner-user
activity.
Retail vacancy rates remain relatively low with rental rates increasing due to low vacancy
rates. Certain retail rental rates are above a feasibility level to justify new retail
development. It appears certain retail uses have a value commensurate with cost.
Therefore, retail development is concluded to be currently financially feasible.
The financial feasibility of residential development is good for the residential lot. The
single-family and multi-family residential markets continue to be strong, especially new
construction. Based on the number of new homes in the market area, residential
development appears to be financially feasible.
Given the subject’ location and the strength of the multi-family residential and retail
markets, a mixed-use development (residential above retail) is concluded to be financially
feasible.
Maximally Productive: The highest and best use of the site as vacant, is to be developed
with a multi-story mixed used building, residential over retail and the RMF-6 lot used for
off street parking or water retention and management areas.
PROPERTY AS IMPROVED
Legally Permissible: The existing building and site improvements are consistent with the
Growth Management Plan and land development code and therefore are a legal use.
Physically Possible: The existing structure and site improvements are substantially
smaller than the ideal improvement or an under improvement of the site. The
improvements are at the end of their economic life.
Financially Feasible: The improvements do not generate income sufficient to support the
underlying land value and therefore do not represent the highest and best use of the site.
Maximally Productive – The highest and best use is the existing improvements be razed
and the site be redeveloped with a commercial/mixed-use building.
Exhibits, Page 91 of 228
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Packet Pg. 569 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Highest and Best Use
Carroll & Carroll 53
CONSIDERATION OF APPROACHES
The cost depreciation approach and income capitalization approach are not appropriate for
improvements that are at the end of their economic life and do not represent the highest and
best use. Only the sales comparison approach is appropriate for valuing the site as though
vacant.
Exhibits, Page 92 of 228
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Packet Pg. 570 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 54
SALES COMPARISON APPROACH
INTRODUCTION
In the sales comparison approach, the subject property is compared with similar properties
that have sold recently or for which listing prices or offering prices are known. Data from
generally similar properties is used, and comparisons are made to demonstrate a probable
price at which the subject property would sell if offered on the market. This approach is
particularly strong when comparable sales data is plentiful and there is good conformity
among properties in the neighborhood.
Following is the procedure to be followed in developing this approach:
1. Research the market to gather information on sales, listings, and offers to purchase
properties similar to the subject.
2. Verify the information as to factual accuracy and arm's-length market considerations.
3. Identify relevant units of comparison and develop a comparative analysis for each
unit.
4. Compare the subject with comparable sale properties using elements of comparison
and adjust the sale price of each comparable appropriately.
5. Reconcile the various value indicators produced from the analysis of comparables into
a single value indication or a range of values.
The outline above is developed in detail on the following pages.
SALES DATA
A search was made for sales comparable to the subject. The intention was to find
comparable sales in similar locations that offer similar functional utility. The subject
consists of two separately zoned parcels. The site contains 52,750 square feet of
commercially zoned land (C-3 & C-5) located at the southeast corner of Bayshore Drive and
Thomasson Drive. The residential portion (separate parcel) contains 27,500 square feet and
is located along the eastern boundary of the site and zoned RMF-6 with an accessory
parking zone overlay (APZ). Due to the different zonings and overlays I searched the
Bayshore area for recent sales of both commercial and residential/RMF-6 zoned land.
Included in the addendum of the report are the RMF-6 sales. The unit price for commercial
land is concluded to be higher than multi-family zoned land and therefore the commercial
sales were utilized to value the entire 80,250 square foot site, since the RMF-6 land will be
developed as an associated use to the commercial portion.
Exhibits, Page 93 of 228
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Packet Pg. 571 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 55
Six closed commercial land sales were identified as the best available for analysis. Price per
square foot of land area was developed as the unit of comparison, since that is the unit best
suited to the analysis, and the one most often utilized by local buyers, seller, and brokers of
land similar to the subject site.
Comparable land sales data is given on the following pages. Each comparable is identified
by a number which will be used for reference throughout the report. Each comparable is
identified on the location map immediately following this page.
Exhibits, Page 94 of 228
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Packet Pg. 572 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 56
LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES
Exhibits, Page 95 of 228
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Packet Pg. 573 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 57
VACANT LAND COMPARABLE 1
ADDRESS Bayshore Drive, Naples, FL 34112
PROPERTY ID NO. 53353320002, 53353360004 & 53353400003
SALE PRICE $618,112
UNIT AREA 22,500 sq. ft.
UNIT PRICE $27.47 per sq. ft.
DATE OF RECORDING January 05, 2023
O.R. BOOK-PAGE 6208/2456
CONTRACT DATE Unknown
GRANTOR LOMO, LLC
GRANTEE BBH Group, LLC
FINANCING Conventional Financing
TOPO-ELEVATION Level at road grade
GROUND COVER Partially Cleared
LAND USE DESIGNATION Bayshore/Gateway Triangle
ZONING C-4-BZO-NC - General Commercial - Bayshore Zoning Overlay District – Neighborhood
Commercial Subdistrict
IMPROVEMENTS None
UTILITIES All Available
PRIOR SALES Sold November 11, 2019 for $429,000.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records. It does not appear the property was formally listed for sale.
Exhibits, Page 96 of 228
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Packet Pg. 574 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 58
VACANT LAND COMPARABLE 2
ADDRESS 3467 Bayshore Drive, Naples, FL 34112
PROPERTY ID NO. 71781960003
SALE PRICE $500,000
UNIT AREA 20,250 sq. ft.
UNIT PRICE $24.69 per sq. ft.
DATE OF RECORDING June 04, 2021
O.R. BOOK-PAGE 5960/2592
CONTRACT DATE April 2021
GRANTOR Elizabeth Ann Morgan, Individually and as Trustee
GRANTEE 3467 Bayshore Drive, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Cleared
LAND USE DESIGNATION Bayshore/Gateway Triangle
ZONING C-4-BZO-NC - General Commercial - Bayshore Zoning Overlay District – Neighborhood
Commercial Subdistrict
IMPROVEMENTS None
UTILITIES All Available
PRIOR SALES No sales in the prior three years.
LEGAL DESCRIPTION
Lots 1 and 2, Block E, Sabal Shores
VERIFICATION
Verified through Public Records.
Exhibits, Page 97 of 228
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Packet Pg. 575 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 59
VACANT LAND COMPARABLE 3
ADDRESS 2332 Tamiami Trail East, Naples, FL 34112
PROPERTY ID NO. 51690240009
SALE PRICE $650,000
UNIT AREA 13,860 sq. ft.
UNIT PRICE $46.90 per sq. ft.
DATE OF RECORDING January 23, 2023
O.R. BOOK-PAGE 6209/1277
CONTRACT DATE December 13, 2022
GRANTOR FLRoy Holdings, LLC
GRANTEE Pesoni LLC-Angel's Rest Series
FINANCING Cash to seller
TOPO-ELEVATION Level and at to slightly above road grade
GROUND COVER Cleared
LAND USE DESIGNATION Bayshore/Gateway Triangle
ZONING C-4 - GTZ-MXD- General Commercial – Gateway Triangle Zoning Overlay District –
Mixed Use Subdistrict
IMPROVEMENTS The property was previously improved with a quick-lane oil change facility that was
razed in 2018 due to significant damage sustained from Hurricane Irma.
UTILITIES All available
PRIOR SALES Sold April 6, 2022 for $587,500.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records and SWFLA MLS. The property was listed for $669,900 and was on the market 14 days.
Exhibits, Page 98 of 228
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Packet Pg. 576 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 60
VACANT LAND COMPARABLE 4
ADDRESS 3230 Tamiami Trail East, Naples, FL 34112
PROPERTY ID NO. 30480240007, 30480280009, 30480320008
SALE PRICE $2,300,000
UNIT AREA 82,299 sq. ft.
UNIT PRICE $27.95 per sq. ft.
DATE OF RECORDING August 12, 2022
O.R. BOOK-PAGE 6163/1752
CONTRACT DATE Unknown
GRANTOR 3230 Tamiami, LLC
GRANTEE APW2199 Development, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Covered in native vegetation
LAND USE DESIGNATION Bayshore/Gateway Triangle
ZONING C-3 - GTZ-MXD- Commercial Intermediate – Gateway Triangle Zoning Overlay District –
Mixed Use Subdistrict
IMPROVEMENTS None
UTILITIES All available
PRIOR SALES Sold April 26, 2018 for $1,250,000.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records.
Exhibits, Page 99 of 228
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Packet Pg. 577 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 61
VACANT LAND COMPARABLE 5
ADDRESS 11760 Tamiami Trail East, Naples, FL 34113
PROPERTY ID NO. 00447760107
SALE PRICE $2,150,000
UNIT AREA 83,502 sq. ft.
UNIT PRICE $25.75 per sq. ft.
DATE OF RECORDING February 21, 2023
O.R. BOOK-PAGE 6218/528
CONTRACT DATE Unknown
GRANTOR Barefoot 11700, LLC
GRANTEE 11760 Property, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Cleared
LAND USE DESIGNATION Urban Coastal Fringe
ZONING C-3 - Commercial Intermediate
IMPROVEMENTS None
UTILITIES All available
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records. A Costar Representative confirmed the sale with the seller.
Exhibits, Page 100 of 228
14.B.1.d
Packet Pg. 578 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 62
VACANT LAND COMPARABLE 6
ADDRESS 500 Goodlette-Frank Road N, Naples, FL 34102
PROPERTY ID NO. 18160060008
SALE PRICE $1,200,000
UNIT AREA 26,572 sq. ft.
UNIT PRICE $45.16 per sq. ft.
DATE OF RECORDING July 14, 2022
O.R. BOOK-PAGE 6153/2869
CONTRACT DATE Unknown
GRANTOR Miami Rental Search, LLC
GRANTEE NaplesComA, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level
GROUND COVER Cleared
LAND USE DESIGNATION Downtown Mixed Use
ZONING C2 - General Commercial
IMPROVEMENTS None
UTILITIES All available
PRIOR SALES Sold July 30, 2021 for $762,000
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records.
Exhibits, Page 101 of 228
14.B.1.d
Packet Pg. 579 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach Carroll & Carroll 63 SALES ADJUSTMENT GRID ITEM SUBJECT COMP #1 COMP #2 COMP #3 COMP #4 COMP #5 COMP #6PROPERTY IDENTIFICATIONThomasson/ Bayshore DrBayshore Drive3467 Bayshore Drive2332 Tamiami Trail E.3230 Tamiami Trail E.11760 Tamiami Trail E.500 Goodlette-Frank Rd N.SALE PRICEN/A $618,112 $500,000 $650,000 $2,300,000 $2,150,000 $1,200,000REAL PROPERTY RIGHTSFee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee SimpleCONDITIONS OF SALEMarket Market Market Market Market Market MarketBUILDING IMPROVEMENTSNone None None None None None NoneFINANCINGCash or Conventional Cash to seller Cash to seller Cash to seller Cash to seller Cash to sellerEquivalentADJUSTED SALE PRICE$618,112 $500,000 $650,000 $2,300,000 $2,150,000 $1,200,000Recording DateN/A 01/05/23 06/04/21 01/23/23 08/12/22 02/21/23 07/14/22Months Prior To Effective Date08/07/23 7.0 26.1 6.4 11.8 5.5 12.8MARKET CHANGE ADJUSTMENTN/A 7.0% 26.1% 6.4% 11.8% 5.5% 12.8%ADJUSTED SALE PRICE$661,595 $630,506 $691,880 $2,572,189 $2,268,031 $1,353,452Parcel Area in Square Feet80,250 22,500 20,250 13,860 82,299 83,502 26,572PRICE PER SQ. FT. $29.40 $31.14 $49.92 $31.25 $27.16 $50.94LOCATIONNaples Naples Naples Naples Naples Naples NaplesCORNER LOCATIONYes No Yes Yes Yes No YesEXPOSUREGood Similar Similar Superior Similar Similar SuperiorOVERALL LOCATIONAverage Inferior Inferior Similar Similar Inferior Superior10% 10% 0% 0% 20% -10%UTILITIES All Available Similar Similar Similar Similar Similar Similar0% 0% 0% 0% 0% 0%COMP. PLANBayshore/Gtwy Bayshore/Gatwy Bayshore/Gatwy Bayshore/Gatwy Bayshore/Gatwy Urban Coastal Downtown MxdZONINGC-5, C-3, RMF-6 C-4 C-4 C-4 C-3 C-3 C-20% 0% 0% 0% 0% 0%SIZE IN SQUARE FEET80,250 22,500 20,250 13,860 82,299 83,502 26,572SIZE IN ACRES1.84 0.52 0.46 0.32 1.89 1.92 0.61SHAPE/CONFIGURATIONRectangular Similar Similar Similar Similar Similar Similar0% 0% -5% 0% 0% 0%PHYSICAL CHARACTERISTICSCleared Cleared Cleared Cleared Native Veg. Cleared Cleared0% 0% 0% 5% 0% 0%GROSS ADJUSTMENTN/A 10% 10% 5% 5% 20% 10%INDICATION OF UNIT VALUE ? $32.34 $34.25 $47.42 $32.82 $32.59 $45.84Exhibits, Page 102 of 22814.B.1.d
Packet Pg. 580 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 64
DISCUSSION OF ADJUSTMENTS
Usually, comparable sale properties are not exactly like the subject property. If a typical
buyer would perceive the difference to be significant, then adjustment(s) must be made to
the comparable sales so that in the end each offers a realistic indication of value for the
subject. Adjusting comparable sales is a two-step process.
First, adjustments are made so that all of the comparable sales meet the standard of a
“market” transaction as outlined in the definition of market value. Customarily, the first
group of adjustments is made before the comparables are reduced to a common unit of
comparison.
The second group of adjustments is made after an appropriate unit of comparison is chosen.
When the adjustment process is complete, the unit value indications are reconciled and
converted into an estimate of value for the subject.
REAL PROPERTY RIGHTS CONVEYED
This adjustment category is intended to account for the interest, benefits, and rights
inherent in the ownership of real estate. This category reflects the impact on value caused
by the fee simple versus the leased fee interest or the contract rent as opposed to market
rent.
x None of the comparable sales required adjustment in this category.
CONDITIONS OF SALE
This adjustment category is intended to account for a variety of factors that might affect
the purchase price.
x None of the comparable sales required adjustment in this category.
BUILDING IMPROVEMENTS
This category of adjustment is intended to account for the positive or negative contribution
to value of building improvements included with the sale of the land. Buildings that made
a positive contribution to the sale price require a negative adjustment. Buildings that were
demolished and removed require a positive adjustment to account for demolition costs
which are treated as part of the purchase price.
x None of the comparable sales required adjustment in this category.
Exhibits, Page 103 of 228
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Packet Pg. 581 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 65
FINANCING
Adjustments in this category are intended to account for unusual terms of financing that
are not considered equivalent to cash or conventional financing.
x None of the comparable sales required adjustment in this category.
MARKET CHANGE
This adjustment is intended to account for changes in value due to the ebb and flow of
market forces over time.
x The comparables occurred between June 2021 and February 2023, which market
conditions have been improving over this period through the effective date of value.
The sales and resales of the comparable sales are presented below.
Comparable 1 reflects a long-time interval and Comparable 3 indicates a monthly
market change rate from April 2022 to January 2023, which is similar to the comparable
sales. Comparable 6 is clearly a high indicator.
Based on all the information observed throughout the market, I have applied a market
change rate of 1.00% per month or 12.00% annually for current market conditions.
LOCATION/ACCESS/EXPOSURE
This category of adjustment reflects the impact on value caused by the advantages or
disadvantages of a given location. It also accounts for access and exposure of a property.
x Comparables 1 and 2 are located along Bayshore Drive, north of the subject. They do
not benefit from corner locations, and they were both adjusted upward 10% for their
inferior locations.
Comparable 5 is located along Tamiami Trail East, in a less commercialized area.
Comparable 5 was adjusted upward 20% for its inferior location.
Comparable 6 is located along Goodlette-Frank Road, at a signalized intersection. This
is a superior location and was adjusted downward 10%.
UTILITES/INFRASTRUCTURE
This category of adjustment references the availability and adequacy of the road system,
the public was distribution system and the public wastewater collection system of each
Comp Address Prior Sale Recent Sale Months Prior Sale Price Recent Sale Price Appreciation Monthly Change
1 Bayshore Dr. 11/11/19 01/05/23 37.84 $429,000 $618,112 44.08%1.17%
3 2332 Tamiami Trl. E. 04/06/22 01/23/23 9.60 $587,500 $650,000 10.64%1.11%
6 500 Goodlette-Frank Rd. 07/30/21 07/14/22 11.47 $762,000 $1,200,000 57.48%5.01%
AVG 2.43%
Exhibits, Page 104 of 228
14.B.1.d
Packet Pg. 582 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 66
comparable property as that compares with the same services available to the subject
property.
x None of the comparable sales required adjustment in this category.
COMPREHENSIVE PLAN/ZONING
This category of adjustment accounts for differences in the potential land uses
(Comprehensive Plan) or in the specific uses (Zoning) to which a property could be
developed. Differences in value between the subject property and comparable sales might
exist because their highest and best uses are different as a result of government regulation
through zoning and land use controls.
x None of the comparable sales required adjustment in this category.
SIZE/SHAPE
This category of adjustment addresses the effect on the marketability of a given property,
because its physical size/shape might limit the physical utility, or because the size and
term of the financial investment required of an investor/speculator is such that the unit
price is reduced.
x Size and price per square foot typically have an inverse relationship. Comparable 3 is
significantly smaller than the subject and was adjusted downward 5% for its lower
price point.
PHYSICAL CHARACTERISTICS
This category of adjustment reflects the physical aspects of a property that impact its use
for development. Physical characteristics included land elevation, soil conditions,
drainage characteristics, threatened or endangered plant and animal species on the
property and the extent and density of covering vegetation.
x Comparable 4 is covered in native vegetation and was adjusted upward 5% for its
inferior physical characteristics.
Exhibits, Page 105 of 228
14.B.1.d
Packet Pg. 583 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 67
RECONCILIATION OF DATA
After making the adjustments discussed, the comparables indicated the following unit
values:
Comparable Price Per Square Foot
1 $32.34
2 $34.25
3 $47.42
4 $32.82
5 $32.59
$45.84
INDICATION OF VALUE
To arrive at a conclusion regarding the value of the subject, the comparable sales and their
indications of value should be weighted according to the quality of each as a value
indicator.
Comparables 1 and 3 are the strongest indicators of value. They are the most recent sales
which increase their strength as indicators of value and are similar to the subject.
Comparables 1 and 3 were weighted 20% each.
Comparables 2, 4, 5, and 6 are all good indicators of value and were weighted 15% each.
The range of unit value indications is from $32.34 to $47.42 per square foot. The arithmetic
mean of the six comparables is $37.54 per square foot and the median is $33.53 per square
foot. The weighting process discussed above indicates a unit value of $37.78 per square
foot.
Based on the range of unit values and the upward trend, I concluded to a unit value of
$38.00 per square foot.
ESTIMATE OF VALUE
$38.00 per square foot results in an indication of value as of August 7, 2023 of $3,049,500
($38.00 per square foot × 80,250 square feet) which rounds to $3,050,000.
Exhibits, Page 106 of 228
14.B.1.d
Packet Pg. 584 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Sale Comparison Approach
Carroll & Carroll 68
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
Exhibits, Page 107 of 228
14.B.1.d
Packet Pg. 585 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
ADDENDA
(In Order of Appearance)
Page Topic Count Page(s) Page(s)
Assumptions and Limiting Conditions........................................................................... 2
Property Cards.................................................................................................................... 6
Residential Land Sales Grid.............................................................................................. 1
Qualifications of Appraiser............................................................................................... 2
Exhibits, Page 108 of 228
14.B.1.d
Packet Pg. 586 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
ASSUMPTIONS AND LIMITING CONDITIONS
The certification of the appraiser appearing in this report is subject to the following
assumptions and limiting conditions.
ACCEPTANCE OF AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES
ACCEPTANCE OF ALL GENERAL AND EXTRAORDINARY ASSUMPTIONS AND
LIMITING CONDITIONS.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
None
HYPOTHETICAL CONDITION
None
GENERAL ASSUMPTIONS AND LIMITING CONDITIONS
1. No responsibility is assumed for the legal description or for matters including legal or
title considerations. Title to the property is assumed to be good and marketable.
2. The property is appraised free and clear of liens and encumbrances.
3. Responsible ownership and competent property management are assumed.
4. The information furnished by others is assumed to be true, correct and reliable. A
reasonable effort was made to verify such information, but the appraiser bears no
responsibility for its accuracy.
5. All engineering is assumed to be correct. The plot plans and illustrative material is
included only to assist the reader in visualizing the property.
6. It is assumed that there are no hidden or unapparent conditions of the property,
subsoil, or structures that render it more or less valuable. No responsibility is assumed
for such conditions or for arranging for engineering studies that might be required to
discover them.
7. It is assumed that there is full compliance with all applicable federal, state, and local
environmental regulations and laws.
8. It is assumed that the property is either in compliance with, or is "grandfathered" or
"vested" under, all applicable zoning, use regulations and restrictions.
Exhibits, Page 109 of 228
14.B.1.d
Packet Pg. 587 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
9. It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any local, state, or national government or
private entity or organization have been, or can be, obtained or renewed for any use on
which the value estimate is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries
or property lines of the property described, and that there is no encroachment or
trespass.
11. Proposed improvements are assumed to have been completed as of the prospective date
of value. Proposed construction is presumed to conform with the building plans
referenced in the report.
12. It is assumed that the subject site and improvements are not contaminated by any
hazardous material or toxic substance. During the property inspection I was sensitive
to obvious signs of contamination and I reported anything unusual. However, this
appraiser is not qualified to render a professional opinion regarding the existence or the
nature of hazardous materials in or on the subject property. If a definitive opinion is
desired, then the client is urged to retain an expert in the field.
13. The distribution of the total value in this report, between land and improvements,
applies only under the stated program of utilization. The separate allocations for land
and buildings must not be used in conjunction with any other appraisal and are invalid
if so used.
14. Possession of this report, or a copy thereof, does not carry with it the right of
publication.
15. Unless previous arrangements were made, the appraiser, by reason of this appraisal, is
not required to give further consultation, testimony, or to be in attendance in court.
16. Neither all nor any part of the contents of this report (especially any opinions as to
value, the identity of the appraiser, or the firm with which the appraiser is connected)
shall be disseminated to the public through advertising, public relations, news, sales, or
other media without the prior written consent and approval of the appraiser.
Exhibits, Page 110 of 228
14.B.1.d
Packet Pg. 588 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
Exhibits, Page 111 of 228
14.B.1.d
Packet Pg. 589 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
Exhibits, Page 112 of 228
14.B.1.d
Packet Pg. 590 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
Exhibits, Page 113 of 228
14.B.1.d
Packet Pg. 591 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
Exhibits, Page 114 of 228
14.B.1.d
Packet Pg. 592 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
Exhibits, Page 115 of 228
14.B.1.d
Packet Pg. 593 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
Exhibits, Page 116 of 228
14.B.1.d
Packet Pg. 594 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda Carroll & Carroll SALES ADJUSTMENT GRID – RESIDENTAL SALES ITEM SUBJECT COMP #7 COMP #8 COMP #9 COMP #10 COMP #11 COMP #12 COMP #13PROPERTY IDENTIFICATIONThomasson 3107 Cottage 2808 Van 3054 Coco 2480 Florida 2200 Curtis 3063 1795Drive Grove Avenue Buren Avenue Avenue Avenue Street Connecticut Ave Shadowlawn DrSALE PRICEN/A $775,000 $365,000 $427,000 $455,000 $945,000 $750,000 $1,250,000REAL PROPERTY RIGHTSN/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple000000 0CONDITIONS OF SALEMarket Market Market Market Market Market Market Market000000 0BUILDING IMPROVEMENTSCleared No Contribution No Contribution None None No Contribution No Contribution No Contribution000000 0FINANCINGCash or Cash to seller Cash to seller Cash to seller Conventional Private Cash to seller Cash to sellerEquivalent 000000 0ADJUSTED SALE PRICEN/A $775,000 $365,000 $427,000 $455,000 $945,000 $750,000 $1,250,000Recording DateN/A 04/06/23 07/14/23 05/11/23 02/27/23 03/24/23 02/10/23 07/19/23Months Prior To Effective Date08/07/23 4.04 0.79 2.89 5.29 4.47 5.85 0.62MARKET CHANGE ADJUSTMENTN/A 4.0% 0.8% 2.9% 5.3% 4.5% 5.9% 0.6%ADJUSTED SALE PRICEN/A $806,336 $367,880 $439,352 $479,081 $987,249 $793,886 $1,257,807Parcel Area in Gross Square Feet27,500 27,461 13,500 13,200 12,000 31,500 22,235 49,501PRICE PER SQUARE FOOT ? $29.36 $27.25 $33.28 $39.92 $31.34 $35.70 $25.41LOCATION ADDRESSThomasson Dr. Cottage Grove Van Buren Ave Coco Avenue Florida Avenue Curtis Street Connecticut Ave Shadowlawn Dr CORNER LOTNo No No No Yes Yes No Yes OVERALL LOCATIONAverage Similar Similar Similar Similar Similar Similar Similar0% 0% 0% 0% 0% 0% 0%UTILITIES Water & Sewer Similar Similar Similar Similar Similar Similar Similar0% 0% 0% 0% 0% 0% 0%COMP. PLANBayshore/Gtwy Bayshore/Gtwy Bayshore/Gtwy Bayshore/Gtwy Bayshore/Gtwy Bayshore/Gtwy Bayshore/GtwyBayshore/GtwyZONINGRMF-6 RMF-6 RMF-6 RMF-6 RMF-6 RMF-6 RMF-6 RMF-60% 0% 0% 0% 0% 0% 0%SIZE IN SQUARE FEET27,500 27,461 13,500 13,200 12,000 31,500 22,235 49,501SHAPE/CONFIGURATIONRectangular Superior Superior Superior Superior Superior Superior Similar-5% -10% -10% -10% -5% -5% 0%PHYSICAL CHARACTERISTICSCleared Similar Similar Similar Similar Similar Similar Similar0% 0% 0% 0% 0% 0% 0%GROSS ADJUSTMENTN/A 5% 10% 10% 10% 5% 5% 0%INDICATION OF UNIT VALUE ? $27.89 $24.53 $29.96 $35.93 $29.77 $33.92 $25.41Exhibits, Page 117 of 22814.B.1.d
Packet Pg. 595 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
Exhibits, Page 118 of 228
14.B.1.d
Packet Pg. 596 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
6461 Report Addenda
Carroll & Carroll
Exhibits, Page 119 of 228
14.B.1.d
Packet Pg. 597 Attachment: 4-Exhibit D, Carroll and Carroll Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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14.B.1.e
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14.B.1.e
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14.B.1.e
Packet Pg. 600 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Packet Pg. 601 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Metro Area Miles
Fort Myers 44 Jacksonville 378
Fort Lauderdale 107 Tallahassee 435
Miami 128 Atlanta 616
Sarasota 120 New York 1,311
West Palm Beach 150 Dallas 1,315
Tampa 169 Chicago 1,335
Orlando 238
Distance to Other Major Markets
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State and 2020 2010 2000
County 2022 2020 2010 2000 to 2022 to 2020 to 2010
FLORIDA 22,276,132 21,538,187 18,801,332 15,982,824 3.4 14.6 17.6
Charlotte 196,742 186,847 159,978 141,627 5.3 16.8 13.0
Collier 390,912 375,752 321,520 251,377 4.0 16.9 27.9
Glades 12,273 12,126 12,884 10,576 1.2 -5.9 21.8
Hendry 40,633 39,619 39,140 36,210 2.6 1.2 8.1
Lee 802,178 760,822 618,754 440,888 5.4 23.0 40.3
Sarasota 452,378 434,006 379,448 325,961 4.2 14.4 16.4
Sources: US Census Bureau (2020, 2010, and 2000 Census) and University of Florida, Bureau of Economic and
Business Research (2022 Estimates).
Table 3. Population and Population Change for Counties in Florida, 2000 to 2022
Percent Change
Population
Exhibits, Page 134 of 228
14.B.1.e
Packet Pg. 612 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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CHARLOTTE
Low 188,800 190,900 190,200 188,000 185,100 181,600
Medium 203,000 215,700 225,800 234,300 241,900 248,800
High 217,200 240,500 261,400 280,600 298,800 315,900
COLLIER
Low 383,700 390,500 392,500 391,100 387,600 383,300
Medium 408,200 433,900 455,100 472,700 487,600 501,000
High 432,700 477,300 517,700 554,200 587,600 618,800
GLADES
Low 11,700 11,400 11,100 10,700 10,400 10,100
Medium 12,500 12,700 12,900 13,000 13,100 13,200
High 13,200 14,000 14,600 15,200 15,800 16,200
HENDRY
Low 39,900 39,700 39,200 38,600 37,900 37,300
Medium 42,000 43,400 44,500 45,300 46,000 46,600
High 44,100 47,100 49,700 52,000 54,000 55,900
LEE
Low 800,500 832,000 848,400 855,500 856,800 855,300
Medium 851,600 924,500 983,700 1,033,800 1,077,800 1,118,100
High 902,700 1,016,900 1,118,900 1,212,100 1,298,700 1,380,800
SARASOTA
Low 439,700 444,000 443,300 440,200 435,600 429,800
Medium 467,700 493,300 514,000 532,000 547,900 561,800
High 495,800 542,700 584,700 623,700 660,200 693,900
Projections, April 1
Projections of Florida Population by County
2025-2050
Source: Bureau of Economic and Business Research, Florida Population Studies, Bulletin 192
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14.B.1.e
Packet Pg. 613 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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14.B.1.e
Packet Pg. 614 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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NAICS Title 2022 2030 Growth
Percent
Growth
Total, All Industries 570,705 622,709 52,004 9.1
Agriculture, Forestry, Fishing and Hunting 7,834 7,200 -634 -8.1
Mining 420 466 46 11.0
Construction 61,755 72,022 10,267 16.6
Manufacturing 13,931 14,805 874 6.3
Trade, Transportation and Utilities 100,302 107,182 6,880 6.9
Information 4,973 5,029 56 1.1
Financial Activities 26,943 29,341 2,398 8.9
Professional and Business Services 70,219 76,888 6,669 9.5
Education and Health Services 108,593 122,385 13,792 12.7
Leisure and Hospitality 82,935 90,974 8,039 9.7
Other Services (except Public Administration)21,884 24,391 2,507 11.5
Government 66,345 71,937 5,592 8.4
Self Employed and Unpaid Family Workers, All Jobs 44,152 44,487 335 0.8
Source: Florida Department of Economic Opportunity
Employment
JJOBS BY INDUSTRY
CHARLOTTE, COLLIER, GLADES, HENDRY, AND LEE COUNTIES
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Exhibits, Page 137 of 228
14.B.1.e
Packet Pg. 615 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 138 of 228
14.B.1.e
Packet Pg. 616 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Year
Service-
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%
Change
Goods
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%
Change
Mining, Logging, &
Const.
%
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Leisure and
Hospitality
%
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All Employees,
Total Nonfarm
%
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2012 106,600 3.1% 12,100 5.2% 9,400 4.4% 23,600 4.4% 118,700 3.3%
2013 109,700 2.9% 13,500 11.6% 10,500 11.7% 24,400 3.4% 123,300 3.9%
2014 114,500 4.4% 15,400 14.1% 12,100 15.2% 25,500 4.5% 129,900 5.4%
2015 119,100 4.0% 17,000 10.4% 13,600 12.4% 26,500 3.9% 136,100 4.8%
2016 124,000 4.1% 18,700 10.0% 14,900 9.6% 27,500 3.8% 142,600 4.8%
2017 126,300 1.9% 19,400 3.7% 15,400 3.4% 28,300 2.9% 145,600 2.1%
2018 129,600 2.6% 21,500 10.8% 17,200 11.7% 29,100 2.8% 151,000 3.7%
2019 133,200 2.8% 22,400 4.2% 17,700 2.9% 30,000 3.1% 155,600 3.0%
2020 126,300 -5.2% 22,100 -1.3% 17,200 -2.8% 25,600 -14.7% 148,400 -4.6%
2021 132,400 4.8% 23,100 4.5% 18,000 4.7% 28,000 9.4% 155,500 4.8%
2022*137,000 3.8% 24,900 7.8% 19,500 8.2% 29,600 7.0% 161,800 4.4%
*Through November 2022; percentage increase in comparison to November 2021 YTD
Source: U.S. Department of Labor
Naples - Immokalee - Marco Island
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Exhibits, Page 139 of 228
14.B.1.e
Packet Pg. 617 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Rank Company SWFL Employees Industry County
1 Lee Health 14,028 Healthcare and Social Assistance Lee
2 Lee County School District 11,003 Educational Services Lee
3 Publix Super Market 9,768 Retail Trade Charlotte, Collier, Lee
4 Lee County Local Government 9,142 Public Administration Lee
5 NCH Healthcare System 8,159 Healthcare and Social Assistance Collier
6 Walmart 7,286 Retail Trade Charlotte, Collier, Hendry, Lee
7 Collier County School District 5,756 Educational Services Collier
8 Collier County Local Government 5,173 Public Administration Collier
9 Arthrex 4,087 Manufacturing Collier
10 Marriott International, Inc. 3,620 Accommodation and Food Services Collier, Lee
11 Bayfront Health 2,801 Healthcare and Social Assistance Charlotte
12 Charlotte County Local Government 2,614 Public Administration Charlotte
13 McDonald's 2,613 Accommodation and Food Services Charlotte, Collier, Hendry, Lee
14 Home Depot 2,497 Retail Trade Charlotte, Collier, Lee
15 Charlotte County School District 2,152 Educational Services Charlotte
16 Winn-Dixie 1,899 Retail Trade Charlotte, Collier, Hendry, Lee
17 Hope Hospice 1,838 Healthcare and Social Assistance Collier, Lee
18 Chico's Fas Inc. 1,552 Retail Trade Collier, Lee
19 Florida Gulf Coast University 1,519 Educational Services Lee
20 Bloomin' Brands, Inc. 1,395 Accommodation and Food Services Charlotte, Collier, Lee
21 Realogy Holdings Corp. 1,381 Real Estate and Rental and Leasing Charlotte, Collier, Lee
22 Darden Restaurants 1,380 Accommodation and Food Services Charlotte, Collier, Lee
23 Target 1,300 Retail Trade Charlotte, Collier, Lee
24 Walgreens 1,170 Retail Trade Charlotte, Collier, Hendry, Lee
25 Yum! Brands, Inc. 1,141 Accommodation and Food Services Charlotte, Collier, Hendry, Lee
Source: Florida Gulf Coast University Regional Economic Research Institute; July 27, 2021
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Exhibits, Page 140 of 228
14.B.1.e
Packet Pg. 618 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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14.B.1.e
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14.B.1.e
Packet Pg. 621 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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14.B.1.e
Packet Pg. 623 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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14.B.1.e
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14.B.1.e
Packet Pg. 625 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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14.B.1.e
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Exhibits, Page 149 of 228
14.B.1.e
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Exhibits, Page 150 of 228
14.B.1.e
Packet Pg. 628 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 151 of 228
14.B.1.e
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Exhibits, Page 152 of 228
14.B.1.e
Packet Pg. 630 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 153 of 228
14.B.1.e
Packet Pg. 631 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 154 of 228
14.B.1.e
Packet Pg. 632 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 155 of 228
14.B.1.e
Packet Pg. 633 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 156 of 228
14.B.1.e
Packet Pg. 634 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 157 of 228
14.B.1.e
Packet Pg. 635 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 158 of 228
14.B.1.e
Packet Pg. 636 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 159 of 228
14.B.1.e
Packet Pg. 637 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 170 of 228
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Exhibits, Page 171 of 228
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Exhibits, Page 174 of 228
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Exhibits, Page 175 of 228
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Exhibits, Page 185 of 228
14.B.1.e
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14.B.1.e
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14.B.1.e
Packet Pg. 669 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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14.B.1.e
Packet Pg. 672 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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14.B.1.e
Packet Pg. 673 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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14.B.1.e
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14.B.1.e
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Exhibits, Page 204 of 228
14.B.1.e
Packet Pg. 682 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 205 of 228
14.B.1.e
Packet Pg. 683 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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6&251(5$''(1'$$335$,6(548$/,),&$7,216
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Exhibits, Page 206 of 228
14.B.1.e
Packet Pg. 684 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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6&251(5$''(1'80$$335$,6(548$/,),&$7,216
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Exhibits, Page 207 of 228
14.B.1.e
Packet Pg. 685 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 208 of 228
14.B.1.e
Packet Pg. 686 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 209 of 228
14.B.1.e
Packet Pg. 687 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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6&251(5$''(1'80$$335$,6(548$/,),&$7,216
Exhibits, Page 210 of 228
14.B.1.e
Packet Pg. 688 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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6&251(5$''(1'80%),1$1&,$/6$1'3523(57<,1)250$7,21
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Exhibits, Page 211 of 228
14.B.1.e
Packet Pg. 689 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
$ 2,118,000
$ 0
$ 0
$ 716,621
$ 10,199
$ 726,820
$ 69,928
$ 656,892
$ 0
$ 0
Collier County Property AppraiserProperty Summary
Parcel No 52600120008 Site Address*Disclaimer 2808 THOMASSONDR Site City NAPLES Site Zone*Note 34112
Name / Address COLLIER CNTY
3335 TAMIAMI TRAIL E
STE 101
City NAPLES State FL Zip 34112-2309
Map No. Strap No. Section Township Range Acres£ *Estimated
5A23 430900 35A23 23 50 25 0.44
Legal JONESVILLE LOT 3 OR 446 PG 655
Millage Area 63 Millage Rates £ *Calculations
Sub./Condo 430900 - JONESVILLE School Other Total
Use Code 86 - COUNTIES INCLUDING NON-MUNICIPAL GOV.4.292 8.598 12.89
Latest Sales History
(Not all Sales are listed due to Confidentiality)
Date Book-Page Amount
11/06/20 5848-493
09/25/19 5677-1903
01/03/19 5587-786
2023 Preliminary Tax Roll
(Subject to Change)
Land Value
(+)Improved Value
(=)Market Value
(-)10% Non-Homestead Cap
(=)Assessed Value
(=)School Taxable Value
(=)Taxable Value
If all Values shown above equal 0 this parcel was created after the Final Tax Roll
Exhibits, Page 212 of 228
14.B.1.e
Packet Pg. 690 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
Collier County Property AppraiserProperty Detail
Parcel No 52600120008 Site Address*Disclaimer 2808 THOMASSONDR Site City NAPLES Site Zone*Note 34112
Name / Address COLLIER CNTY
3335 TAMIAMI TRAIL E
STE 101
City NAPLES State FL Zip 34112-2309
Permits (Provided for reference purposes only. *Full Disclaimer. )
Tax Yr Issuer Permit # CO Date Tmp CO Final Bldg Type
1972 COUNTY 72-1748 07/18/72
1981 COUNTY 81-2814 10/19/81 06/11/81
1998 COUNTY 9802-1906 04/02/98
2007 COUNTY 0509-3559
2019 COUNTY PRBD20180103731 ROOF
2023 COUNTY PRDM20220626870 10/07/22 08/23/22 DEMOLITION
2023 COUNTY PRFW20220524475 08/31/22 FENCE
Land
£# Calc Code Units
10 SQUARE FOOT 19264
£Building/Extra Features
£# Year Built Description Area Adj Area
10 1981 ASPH P 2646 2646
20 2022 CLF6 330 330
Exhibits, Page 213 of 228
14.B.1.e
Packet Pg. 691 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
$ 2,118,000
$ 0
$ 0
$ 56,200
$ 0
$ 0
$ 787,674
$ 62,010
$ 849,684
$ 134,249
$ 715,435
$ 0
$ 0
Collier County Property AppraiserProperty Summary
Parcel No 52600080009 Site Address*Disclaimer 4825 BAYSHORE DR Site City NAPLES Site Zone*Note 34112
Name / Address COLLIER CNTY
3335 TAMIAMI TRAIL E
STE 101
City NAPLES State FL Zip 34112
Map No. Strap No. Section Township Range Acres£ *Estimated
5A23 430900 25A23 23 50 25 0.77
Legal JONESVILLE LOTS 1 AND 2, OR 1007 PG 1828
Millage Area 63 Millage Rates £ *Calculations
Sub./Condo 430900 - JONESVILLE School Other Total
Use Code 86 - COUNTIES INCLUDING NON-MUNICIPAL GOV.4.292 8.598 12.89
Latest Sales History
(Not all Sales are listed due to Confidentiality)
Date Book-Page Amount
11/06/20 5848-493
09/25/19 5677-1903
01/03/19 5587-782
02/01/83 1007-1828
07/01/78 761-361
12/01/73 567-5
2023 Preliminary Tax Roll
(Subject to Change)
Land Value
(+)Improved Value
(=)Market Value
(-)10% Non-Homestead Cap
(=)Assessed Value
(=)School Taxable Value
(=)Taxable Value
If all Values shown above equal 0 this parcel was created after the Final Tax Roll
Exhibits, Page 214 of 228
14.B.1.e
Packet Pg. 692 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
Collier County Property AppraiserProperty Detail
Parcel No 52600080009 Site Address*Disclaimer 4825 BAYSHORE DR Site City NAPLES Site Zone*Note 34112
Name / Address COLLIER CNTY
3335 TAMIAMI TRAIL E
STE 101
City NAPLES State FL Zip 34112
Permits (Provided for reference purposes only. *Full Disclaimer. )
Tax Yr Issuer Permit # CO Date Tmp CO Final Bldg Type
1955 COUNTY 00
1992 COUNTY 92-10749 12/07/92 08/11/92 RESIDENCE
Land
£# Calc Code Units
10 SQUARE FOOT 33661.25
£Building/Extra Features
£# Year Built Description Area Adj Area
10 1992 RESIDENTIAL 400 1060
20 1992 ASPH P 7310 7310
30 1955 CONC P 480 480
40 1992 CLF6 732 732
Exhibits, Page 215 of 228
14.B.1.e
Packet Pg. 693 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
$ 2,118,000
$ 0
$ 0
$ 0
$ 6,000
$ 810,216
$ 0
$ 810,216
$ 638,783
$ 171,433
$ 0
$ 0
Collier County Property AppraiserProperty Summary
Parcel No 52600160000 Site Address*Disclaimer Site City NAPLES Site Zone*Note 34112
Name / Address COLLIER CNTY
3335 TAMIAMI TRAIL E
STE 101
City NAPLES State FL Zip 34112-2309
Map No. Strap No. Section Township Range Acres£ *Estimated
5A23 430900 45A23 23 50 25 0.63
Legal JONESVILLE LOT 4 OR 795 PG 1921
Millage Area 63 Millage Rates £ *Calculations
Sub./Condo 430900 - JONESVILLE School Other Total
Use Code 86 - COUNTIES INCLUDING NON-MUNICIPAL GOV.4.292 8.598 12.89
Latest Sales History
(Not all Sales are listed due to Confidentiality)
Date Book-Page Amount
11/06/20 5848-493
09/25/19 5677-1903
01/03/19 5587-784
02/00/79 795-1921
01/01/79 789-837
2023 Preliminary Tax Roll
(Subject to Change)
Land Value
(+)Improved Value
(=)Market Value
(-)10% Non-Homestead Cap
(=)Assessed Value
(=)School Taxable Value
(=)Taxable Value
If all Values shown above equal 0 this parcel was created after the Final Tax Roll
Exhibits, Page 216 of 228
14.B.1.e
Packet Pg. 694 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
Collier County Property AppraiserProperty Detail
Parcel No 52600160000 Site Address*Disclaimer Site City NAPLES Site Zone*Note 34112
Name / Address COLLIER CNTY
3335 TAMIAMI TRAIL E
STE 101
City NAPLES State FL Zip 34112-2309
Permits (Provided for reference purposes only. *Full Disclaimer. )
Tax Yr Issuer Permit # CO Date Tmp CO Final Bldg Type
Land
£# Calc Code Units
10 SQUARE FOOT 27007.2
£Building/Extra Features
£# Year Built Description Area Adj Area
Exhibits, Page 217 of 228
14.B.1.e
Packet Pg. 695 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
Exhibits, Page 218 of 228
14.B.1.e
Packet Pg. 696 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
Exhibits, Page 219 of 228
14.B.1.e
Packet Pg. 697 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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Exhibits, Page 220 of 228
14.B.1.e
Packet Pg. 698 Attachment: 5-Exhibit E, RKL Appraisal Report (26960 : CRA Potential Land Sale, Del's Corner, Cinematheque)
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14.B.1.e
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14.B.1.f
Packet Pg. 704 Attachment: 6-Exhibit F, Appraisal Review by Roosevelt Leonard, Supervisor Real Property Division, Collier County (26960 : CRA Potential
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14.B.1.f
Packet Pg. 705 Attachment: 6-Exhibit F, Appraisal Review by Roosevelt Leonard, Supervisor Real Property Division, Collier County (26960 : CRA Potential
Exhibits, Page 228 of 228
14.B.1.f
Packet Pg. 706 Attachment: 6-Exhibit F, Appraisal Review by Roosevelt Leonard, Supervisor Real Property Division, Collier County (26960 : CRA Potential