Agenda 08/13/2024 Item #16A 3 (Agreement for Sale and Puchase under CCLAAC)08/13/2024
EXECUTIVE SUMMARY
Recommendation to approve an Agreement for Sale and Purchase under the Conservation Collier Land
Acquisition Program with 1) Conchita V. Aristizabal for a 5-acre parcel at a cost of $20,000, and 2) Anacely
Ayra for a 3.18-acre parcel at a cost of $65,710. The total cost, inclusive of closing costs, is not to exceed
$88,910.
_____________________________________________________________________________________
OBJECTIVE: To purchase two parcels totaling 8.18 acres adjacent to Conservation Collier’s McIlvane Marsh
Preserve and within the Conservation Collier Dr. Robert H. Gore III Preserve multi-parcel project area.
CONSIDERATIONS: On October 10, 2023, Agenda Item #11B, the Board of County Commissioners (Board)
approved a Conservation Collier Land Acquisition Advisory Committee (CCLAAC) recommended Cycle 12A
Active Acquisition List (AAL) and directed staff to actively pursue acquisition of the properties under the Program.
The Aristizabal parcel is adjacent to McIlvane Marsh Preserve, and the Ayra parcel is within the Dr. Robert H.
Gore III Preserve multi-parcel project were approved as A-list properties on the Cycle 12A AAL.
Aristizabal - approximately 1.3 miles east of the Marco Island Executive Airport and 2.5 miles
southwest of Tamiami Trail East, Parcel 00775600007
The 5-acre unimproved, vacant Aristizabal parcel is located within McIlvane Marsh, adjacent to Conservation
Collier’s McIlvane Marsh Preserve. The parcel consists of Mangrove Swamp and is mapped as containing 100%
hydric muck soils. Acquisition of the Aristizabal parcel provides protection of water resource values, including
aquifer recharge, water quality enhancement, protection of wetland dependent species, and flood control. Coastal
wetlands within McIlvane Marsh provide habitat for many wetland dependent species, particularly bird and fish
species. There is a known rookery within the McIlvane Marsh, and many listed and non-listed bird species have
been observed there. The marsh contains habitat for other listed species, including American alligator and
crocodile. Retaining the marsh in its natural state provides protection both for developed properties to the north
from storm surge and water quality protection to adjoining marine and estuarine communities, as the plants,
animals, and soils in coastal marshes absorb, filter, and neutralize many pollutants draining from the land. The area
also provides moderate to substantial recharge for the surficial aquifer.
Acquisition of the Aristizabal parcel will protect significant biological values by protecting listed species' habitats,
providing connectivity to other conservation lands, and offering restoration potential and ecological quality. The
Aristizabal parcel is directly adjacent to conservation land to the north, south, and west. The entire McIlvane Marsh
is connected to public conservation and parklands, including the Collier Seminole State Park, Ten Thousand Islands
National Wildlife Refuge, Deltona Settlement Lands, and, through them, the Rookery Bay National Estuarine
Research Reserve (RBNERR).
In November 2023, staff contracted with an independent, state-certified general real estate appraisal firm to
appraise the Aristizabal parcel. The cost to obtain the appraisal was $1,400. An offer of $19,000 was made on
January 2, 2024, but was not accepted. On May 23, 2024, the seller accepted the negotiated offer price of $20,000,
which is 100% of the appraised value.
Ayra - North off 42nd Ave. SE, Parcel 41560241009, west of Desoto Blvd. S and north of I-75
The 3.15-acre unimproved, vacant Ayra parcel is located within the Dr. Robert H. Gore III Preserve project area.
The parcel consists of mixed wetland hardwoods and is mapped to contain nearly 100% hydric, slough soils.
Potential public uses at Gore Preserve include hiking, nature photography, bird watching, and environmental
education. Hydrologic indicators such as karst topography, cypress knees, and watermarks on buttressed cypress
trees provide evidence of seasonal flooding. The mature cypress trees in t he preserve project indicate that the area
has historically contained wetlands. The properties are within a historic wetland area connecting east with the
Florida Panther National Wildlife Refuge (FPNWR) via the old Ford Test Track. The Gore Preserve and
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surrounding lands enhance the FPNWR by acting as a buffer and providing a reasonably large -sized wild land
addition north of I-75. Wildlife underpasses at the adjacent Faka-Union and nearby Miller canals create an
ecological link south under I-75 to the Picayune Strand State Forest. A little over two miles to the west are the
North Belle Meade Preserve and the North Belle Meade sending lands. The Gore Preserve project is within the
Florida Fish and Wildlife Conservation Commission (FWC) Primary Panther habitat zone.
The project area contains protected species of plants, including giant sword fern, several listed bromeliads in the
Tillandsia genus, and five native orchid species. The project area contains Florida panthers, Florida black bears,
and numerous other wildlife. The observed habitat and location would also support the presence of Everglades
mink, tricolored heron, and little blue heron, all state-protected species.
In February 2024, staff contracted with two independent, state-certified general real estate appraisal firms to
appraise all parcels within the Gore Project area. The appraisals provided an average appraised value of $21,750 an
acre for parcels between 2.74 and 4.00 acres, based on comparable sales from wetland, not upland parcels. The cost
to obtain the appraisals was $4,900. An offer of $65,710 was made on March 8, 2024, and accepted on April 18,
2024. The purchase price of $65,710 is 95% of the appraised value.
These acquisitions are consistent with the Conservation Collier Purchasing Policy, Resolution No. 2023-10, which
allows the offer amount to be determined by staff but no more than the appraised value.
Pursuant to Ordinance 2024-17, Section 12(6), a Project Design Report (“PDR”) for each of these properties is
provided herewith.
FISCAL IMPACT: The funds for these two land acquisitions will be withdrawn from the Conservation Collier
Trust Fund (1061). The two properties identified herein are comprised of a not to exceed acquisition cost of
$88,910 as follows:
Seller Name Acres Appraised
Value
Purchase
Price
Closing Costs (title
commitment, title policy,
closing fee, recording fees)
Total
Purchase
Price
Initial 5
Yr. Maint
Costs
Long-term
Annual
Maint Costs
Aristizabal 5.00 $20,000 $20,000 $1,470 $21,470 $14,350 $1,600
Ayra 3.18 $69,170 $65,710 $1,730 $67,440 $6,500 $800
TOTAL 8.18 $89,170 $85,710 $3,200 $88,910 $20,850 $2,400
As of July 23, 2024, the estimated property acquisition costs for Conservation Collier properties, including these
properties and those under contract, total $122,986,511. The funds for managing these parcels will be expended
from the Conservation Collier Maintenance Fund (1062). The initial maintenance costs are provided in the attached
PDRs. The total maintenance costs for these parcels for the first five years (initial maintenance costs) are estimated
at $20,850. After initial restoration, the estimated maintenance costs for these parcels will be approximately $2,400
annually.
GROWTH MANAGEMENT IMPACT: Fee simple acquisition of conservation lands is consistent with and
supports Policy 1.3.1(e) in the Conservation and Coastal Management Element of the Collier County Growth
Management Plan.
LEGAL CONSIDERATIONS: This item is approved as to form and legality and requires a majority vote for
approval. - SAA
RECOMMENDATION:
1) To approve the attached Agreements and accept the Warranty Deeds once approved by the County Attorney’s
Office;
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2) To authorize the Chairman to execute the Agreements and any and all other County Attorney’s Office
approved documents related to these transactions; and
3) To authorize the County Manager or designee to prepare related vouchers and warrants for payments and to
take all reasonable steps necessary to ensure performance under the Agreements.
Prepared by: Vivian Rodriguez, Property Acquisition Specialist, Real Property Management, Facilities
Management Division
ATTACHMENT(S)
1. [Linked] Aristizabal appraisal (PDF)
2. [Linked] Ayra Appraisal - Carroll & Carroll (PDF)
3. [Linked] Ayra Appraisal - RKL (PDF)
4. Aristizabal Agreement (PDF)
5. Aristizabal-PDR (PDF)
6. Ayra Agreement (PDF)
7. Ayra-PDR-Gore (PDF)
8. Gore Properties for Conservation Collier 07.23.2024 (PDF)
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COLLIER COUNTY
Board of County Commissioners
Item Number: 16.A.3
Doc ID: 29226
Item Summary: Recommendation to approve an Agreement for Sale and Purchase under the Conservation Collier
Land Acquisition Program with 1) Conchita V. Aristizabal for a 5-acre parcel at a cost of $20,000, and 2) Anacely
Ayra for a 3.18-acre parcel at a cost of $65,710, for a total cost not to exceed $88,910, inclusive of closing costs.
Meeting Date: 08/13/2024
Prepared by:
Title: – Facilities Management
Name: Vivian Rodriguez
06/19/2024 9:33 AM
Submitted by:
Title: – Facilities Management
Name: John McCormick
06/19/2024 9:33 AM
Approved By:
Review:
Facilities Management John McCormick Director - Facilities Completed 06/19/2024 9:34 AM
Public Services Department Melissa Hennig GMCDD Reviewer Completed 06/19/2024 9:42 AM
Growth Management Community Development Department Diane Lynch GMCDD Reviewer Completed
06/21/2024 5:07 PM
Transportation Management Operations Support Evelyn Trimino GMCDD Reviewer Completed
06/26/2024 12:04 AM
Facilities Management Jennifer Belpedio Manager - Real Property Completed 06/26/2024 2:21 PM
Operations & Regulatory Management Diane Lynch GMCDD Reviewer Skipped 06/27/2024 6:14 PM
Development Review Summer BrownAraque GMCDD Reviewer Completed 06/28/2024 10:00 AM
Unknown Jaime Cook GMCDD Reviewer Completed 07/05/2024 2:24 PM
County Attorney's Office Sally Ashkar Level 2 Attorney Review Completed 07/08/2024 3:10 PM
Growth Management Community Development Department James C French Growth Management Completed
07/19/2024 9:54 AM
Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 07/19/2024 1:55 PM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 07/19/2024 3:59 PM
Office of Management and Budget Laura Zautcke OMB Reviewer Completed 07/23/2024 9:36 AM
County Manager's Office Amy Patterson Level 4 County Manager Review Completed 08/05/2024 12:28 PM
Board of County Commissioners Geoffrey Willig Meeting Pending 08/13/2024 9:00 AM
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CONSERVAT10N COLLIER
TAX ID NUMBER:00775600007
AGREEMENT FOR SALE AND PURCHASE
丁H!S AGREEMENT is made and entered into by and beMeen CoNCHITA V.
ARiSTiZABAL,whose address is PO BOx 554,Naples,FL 34114(hereinafter referred
to as"Se∥er:),and COLLIER COUNTY,a pOntlcai subdivision of the state Of Florlda,ls
successors and assigns,whose address is 3335 Tamiamittrail East,Suite 1 01,Naples,
FL 34112(hereina■er referred to as“Purchaser)
llV!T N E S S EttH
WHEREAS, Se∥er is the owneド Of that certain parcel of rea: property(hereinafter
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WHEREAS,Purchaseris desirous of purchasing the Prope町 ,sublect to the condlionsand other agreements hereinafter set forth,and Se∥eris agreeable to such sale and to
such conditions and agreements
NOW,丁 HEREFORE,and for and in consideratiOn of the premises and the respective
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i AGREEMENT
1 01 in consideration of the purchase price and upon the terms and cOnditions
hereinafter set forth, Se∥er sha∥se∥tO Purchaser and Purchaser sha∥purchase
from Se∥erthe Propeny,described in Exhibit"A"
∥ PAYMENT OF PURCHASE PR!CE
201丁 he purchase price(the"Purchase Price")fOrthe Property sha∥be lwEN7YTHOuSAND and 00rloo DOLLARS(S20,000),(U S Currency)payable at ume Of
ciosing
1li CLOS:NG
3 01 The Closing(THE"CLOS:NG DATE","DATE OF CLOSiNGt OR・ CLOSiNG")of
the transaction sha∥ be he!d on or befOre one hundred and eighty(180)days
fo:lowing execulon ofthis Agreement by the Purchaser,or within thirty(30)dayS Of
Purchaser's receipt of a∥closing documents,whicheveris!ater The Ciosing sha∥
be held atthe o価 ce ofthe insuring title company or by ma∥ 丁he procedure tO be
fo∥owed by the parties in connection with the Ciosing sha∥be as fO∥ows:
CC Agreement02/12′2024 ジツC)
16.A.3.d
Packet Pg. 390 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATiON COLLIER
TAXID NUMBER:00775600007
3.011 Seller shall convey a marketable title free of any liens, encumbrances,
exceptions, or qualifications. Marketable title shall be determined according to
applicable title standards adopted by the Florida Bar and in accordance with law.
At the Closing, the Seller shall cause to be delivered to the purchaser the items
specified herein and the following documents and instruments duly executed and
acknowledged, in recordable form:
3.0'l 11 Warranty Deed in favor of Purchaser conveying tifle to the property,
free and clear of all liens and encumbrances other than:
(a) The lien for current taxes and assessments.
(b) Such other easements, restrictions, or conditions of record.
3.01'12 Combined Purchaser-Seller closing statement.
3.0113 A "Gap Tax Proration, Owner's Non-Foreign Affidavit", as required by
Section 1445 of the lnternal Revenue Code and as required by the tifle
insurance undenrvriter to insure the "gap" and issue the policy contemplated
by the title insurance commitment.
3.0114 A W-9 Form, "Request for Taxpayer ldentification and Certification,,
as required by the lnternal Revenue Service.
3.012 At the Closing, the Purchaser, or its assignee, shall cause to be
delivered to the Seller the following:
3.0121 A negotiable instrument (County Warrant) in an amount equal to the
Purchase Price. No funds shall be disbursed to Seller until the Tiile
Company verifies that the state of the title to the Property has not changed
adversely since the date of the last endorsement to the commitment,
referenced in Section 4.011 thereto, and the Title Company is irrevocably
committed to pay the Purchase Price to Seller and to issue the Owner's tifle
policy to Purchaser in accordance with the commitment immediately after the
recording of the deed.
3.0122 Funds payable to the Seller representing the cash payment due at
Closing in accordance with Article lll hereof, shall be subject to adjustment for
prorations as hereinafter set forth.
3.02 Each party shall be responsible for payment of its own attorney's fees. Seller,
at its sole cost and expense, shall pay at Closing all documentary stamp taxes due
relating to the recording of the Warranty Deed, in accordance with Chapter 201 .01 ,
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Packet Pg. 391 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT10N COLLlにR
TAXID NUMBER:00775600007
Florida Statutes, and the cost and electronic fee of recording any instruments
necessary to clear Seller's title to the Property. The cost of the Owner's Form B
Title Policy, issued pursuant to the Commitment provided for in Section 4.011
below, shall be paid by Purchaser. The cost of the title commitment shall also be
paid by Purchaser. lf required by a Phase I report and desired by Purchaser,
Seller shall pay for a Phase ll Environmental Assessment selected by purchaser.
3.03 Purchaser shall pay for the cost of recording the Warranty Deed. Real
Property taxes shall be prorated based on the current year's tax with due
allowance made for maximum allowable discount, homestead and any other
applicable exemptions and paid by Seller. lf Closing occurs at a date which the
current year's millage is not fixed, taxes will be prorated based upon such prior
year's millage.
IV. REQUIREMENTS AND CONDITIONS
4.01 Upon execution of this Agreement by both parties or at such other time as
specified within this Article, Purchaser and/or Seller, as the case may be, shall
perform the following within the times stated, which shall be conditions precedent
to the Closing;
4.011 Within fifteen (15) days after the date hereof, Purchaser shall obtain as
evidence of title an ALTA Commitment for an Owner's Title lnsurance policy
(ALTA Form 8-1970) covering the Property, together with hard copies of all
exceptions shown thereon. Purchaser shall have thirty (30) days, following
receipt of the title insurance commitment, to notify Seller in writing of any
objection to title other than liens evidencing monetary obligations, if any, which
obligations shall be paid at closing. lf the title commitment contains exceptions
that make the title unmarketable, Purchaser shall deliver to the Seller written
notice of its intention to waive the applicable contingencies or to terminate this
Agreement.
4.012 lf Purchaser shall fail to advise the Seller in writing of any such
objections in Seller's title in the manner herein required by this Agreement, the
title shall be deemed acceptable. Upon notification of Purchaser's objection to
title, Seller shall have thirty (30) days to remedy any defects to convey good
and marketable title at Seller's expense, except for liens or monetary
obligations which will be satisfied at Closing. Seller, at its sole expense, shall
use its best efforts to make such title good and marketable. ln the event Seller
is unable to cure said objections within said time period, Purchaser, by
providing written notice to Seller within seven (7) days after expiration of said
thirty (30) day period, may accept title as it then is, waiving any objection; or
Purchaser may terminate the Agreement. A failure by Purchaser to give such
written notice of termination within the time period provided herein shall be
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Packet Pg. 392 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT10N COし LIER
TAX ID NUMBER100775600007
deemed an election by Purchaser to accept the exceptions to title as shown in
the title commitment.
4.013 Seller agrees to furnish any existing surveys of the Property in Seller's
possession to Purchaser within ten (10) days of the effective date of this
Agreement. Purchaser shall have the option, at its own expense, to obtain a
current survey of the Property prepared by a surveyor licensed by the State of
Florida. No adjustments to the Purchase Price shall be made based upon any
change to the total acreage referenced in Exhibit "A," unless the difference in
acreage revealed by survey exceeds 5% of the overall acreage. lf the survey
provided by Seller or obtained by Purchaser, as certified by a registered
Florida surveyor, shows: (a) an encroachment onto the property; or (b) that an
improvement located on the Property projects onto lands of others, or (c) lack
of legal access to a public roadway, the Purchaser shall notify the Seller in
writing of such encroachment, projection, or lack of legal access, and Seller
shall have the option of curing said encroachment or projection, or obtaining
legal access to the Propefi from a public roadway, within sixty (60) days of
receipt of said written notice from Purchaser. Purchaser shall have ninety (90)
days from the effective date of this Agreement to notify Seller of any such
objections. Should Seller elect not to or be unable to remove the
encroachment, projection, or provide legal access to the property within said
sixty (60) day period, Purchaser, by providing written notice to Seller within
seven (7) days after expiration of said sixty (60) day period, may accept the
Property as it then is, waiving any objection to the encroachment, or projection,
or lack of legal access, or Purchaser may terminate the Agreement. A failure
by Purchaser to give such written notice of termination within the time period
provided herein shall be deemed an election by Purchaser to accept the
Property with the encroachment, or projection, or lack of legal access.
V. INSPECTION PERIOD
5.01 Purchaser shall have one hundred twenty (120) days from the date of this
Agreement, ("lnspection Period"), to determine through appropriate investigation
that:
1. Soil tests and engineering studies indicate that the Property can be developed
without any abnormal demucking, soil stabilization or foundations.
2. There are no abnormal drainage or environmental requirements to the
development of the Property.
3. The Property is in compliance with all applicable State and Federal environ-
mental laws and the Property is free from any pollution or contamination.
4. The Property can be utilized for its intended use and purpose in the
Conservation Collier program.
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Packet Pg. 393 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT10N COLLIER
TAX10 NUMBER:00775600007
5.02 lf Purchaser is not satisfied, for any reason whatsoever, with the results of
any investigation, Purchaser shall deliver to Seller prior to the expiration of the
lnspection Period, written notice of its intention to waive the applicable
contingencies or to terminate this Agreement. lf Purchaser fails to notify the Seller
in writing of its specific objections as provided herein within the lnspection Period,
it shall be deemed that the Purchaser is satisfied with the results of its
investigations and the contingencies of this Article V shall be deemed waived. ln
the event Purchaser elects to terminate this Agreement because of the right of
inspection, Purchaser shall deliver to Seller copies of all engineering reports and
environmental and soil testing results commissioned by Purchaser with respect to
the Property.
5.03 Purchaser and its agents, employees and servants shall, at their own risk and
expense, have the right to go upon the Property for the purpose of surveying and
conducting site analyses, soil borings and all other necessary investigation.
Purchaser shall, in performing such tests, use due care. Seller shall be notified by
Purchaser no less than twenty-four (24) hours prior to said inspection of the
Property.
VI. INSPECTION
6.01 Seller acknowledges that the Purchaser, or its authorized agents, shall have
the right to inspect the Propefi at any time prior to the Closing.
VII. POSSESSION
7.01 Purchaser shall be entitled to full possession of the Property at Closing.
VIII. PRORATIONS
8.01 Ad valorem taxes next due and payable, after closing on the Property, shall
be prorated at Closing based upon the gross amount of current year taxes, and
shall be paid by Seller.
IX. TERMINATION AND REMEDIES
g.01 lf Seller shall have failed to perform any of the covenants and/or agreements
contained herein which are to be performed by Seller, within ten ('10) days of
written notification of such failure, Purchaser may, at its option, terminate this
Agreement by giving written notice of termination to seller. Purchaser shall have
the right to seek and enforce all rights and remedies available at law or in equity to
a contract vendee, including the right to seek specific performance of this
Agreement.
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Packet Pg. 394 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT:ON COLし IER
TAX lD NUMBER:00775600007
9.02 The parties acknowledge that the remedies described herein and in the other
provisions of this Agreement provide mutually satisfactory and sufficient remedies
to each of the parties and take into account the peculiar risks and expenses of
each of the parties.
X. SELLER'S AND PURCHASER'S REPRESENTATIONS AND WARRANTIES
10.01 Seller and Purchaser represent and warrant the following:
10.01 1 Seller and Purchaser have full right and authority to enter into and to
execute this Agreement and to undertake all actions and to perform all tasks
required of each hereunder. Seller is not presently the subject of a pending,
threatened or contemplated bankruptcy proceeding. Seller further represents
the Property is free from any and all occupants, tenants, and other persons or
entities claiming possession of the Property at the time of closing. This
provision shall survive closing.
10.012 Seller has full right, power, and authority to own and operate the
Property, and to execute, deliver, and perform its obligations under this
Agreement and the instruments executed in connection herewith, and to
consummate the transaction contemplated hereby. All necessary
authorizations and approvals have been obtained authorizing Seller and
Purchaser to execute and consummate the transaction contemplated hereby.
At Closing, certified copies of such approvals shall be delivered to Purchaser
and/or Seller, if necessary.
10.013 The warranties set forth in this paragraph shall be true on the date of
this Agreement and as of the date of Closing. Purchaser's acceptance of a
deed to the said Property shall not be deemed to be full performance and
discharge of every agreement and obligation on the part of the Seller to be
performed pursuant to the provisions of this Agreement.
10.014 Seller represents that it has no knowledge of any actions, suits, claims,
proceedings, litigation or investigations pending or threatened against Seller, at
law, equity or in arbitration before or by any federal, state, municipal or other
governmental instrumentality that relate to this agreement or any other
property that could, if continued, adversely affect Selle/s ability to sell the
Property to Purchaser according to the terms of this Agreement.
10.015 No party or person other than Purchaser has any right or option to
acquire the Property or any portion thereof.
10.016 Until the date fixed for Closing, so long as this Agreement remains in
force and effect, Seller shall not encumber or convey any portion of the
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Packet Pg. 395 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT10N COLLIER
TAXID NUMBER:00775600007
Property or any rights therein, nor enter into any agreements granting any
person or entity any rights with respect to the Property or any part thereof,
without first obtaining the written consent of Purchaser to such conveyance,
encumbrance, or agreement which consent may be withheld by purchaser for
any reason whatsoever.
'10.017 Seller represents that they have (it has) no knowledge that there is or
ever has been incinerators, septic tanks, or cesspools on the propefi; all
waste, if any, is discharged into a public sanitary sewer system; Seller
represents that they have (it has) no knowledge that any pollutants are or have
been discharged from the Property, directly or indirectly into any body of water.
Seller represents that to their knowledge the Property has not been used for
the production, handling, storage, transportation, manufacture, or disposal of
hazardous or toxic substances or wastes, as such terms are defined in
applicable laws and regulations, or any other activity that would have toxic
results, and no such hazardous or toxic substances are currenfly used in
connection with the operation of the Property, and there is no proceeding or
inquiry by any authority with respect thereto. Seller represents that they have
(it has) no knowledge that there is ground water contamination on the property
or potential of ground water contamination from neighboring properties. Seller
represents that they have (it has) no knowledge that there is or ever has been
any storage tanks for gasoline, or any other substances are or were located on
the Property at any time during or prior to Selle/s ownership thereof. Seller
represents that they have (it has) no knowledge that any part of the property
has ever been used as a sanitary landfill.
10.018 Seller has no knowledge that the Property and Seller's operations
concerning the Property are in violation of any applicable Federal, State or
local statute, law or regulation, or of any notice from any governmental body
has been served upon Seller claiming any violation of any law, ordinance, code
or regulation or requiring or calling attention to the need for any work, repairs,
construction, alterations or installation on or in connection with the property in
order to comply with any laws, ordinances, codes or regulation with which
Seller has not complied.
10.019 Seller has no knowledge of unrecorded leases, licenses or other
possessory interests, restrictions, easements, or rights of way (other than
existing zoning regulations) that restrict or affect the use of the Property, and
there are no maintenance, construction, advertising, management, leasing,
employment, service, or other contracts affecting the Property.
10.020 Seller has no knowledge that there are any suits, actions or arbitration,
bond issuances or proposals therefor, proposals for public improvement
assessments, pay-back agreements, paving agreements, road expansion or
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Packet Pg. 396 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT10N COLLIER
TAX ID NUMBER:00775600007
improvement agreements, utility moratoriums, use moratoriums, improvement
moratoriums, administrative or other proceedings or governmental
investigations or requirements, formal or informal, existing or pending or
threatened which affects the Property or which adversely affects Seller's ability
to perform hereunder; nor is there any other charge or expense upon or related
to the Property which has not been disclosed to Purchaser in writing prior to
the effective date of this Agreement.
'10.021 Seller acknowledges and agrees that Purchaser is entering into this
Agreement based upon Seller's representations stated above and on the
understanding that Seller will not cause the zoning or physical condition of the
Property to change from its existing state on the effective date of this
Agreement up to and including the Date of Closing. Therefore, Seller agrees
not to enter into any contracts or agreements pertaining to or affecting the
Property and not to do any act or omit to perform any act which would change
the zoning or physical condition of the Property or the governmental
ordinances or laws governing same. Seller also agrees to notify Purchaser
promptly of any change in the facts contained in the foregoing representations
and of any notice or proposed change in the zoning, or any other action or
notice, that may be proposed or promulgated by any third parties or any
governmental authorities having jurisdiction of the development of the property
which may restrict or change any other condition of the Property.
10.022 At the Closing, Seller shall deliver to Purchaser a statement
(hereinafter called the "Closing Representative Statement") reasserting the
foregoing representations as of the Date of Closing, which provisions shall
survive the Closing.
10.023 Seller represents, warrants and agrees to indemnify, reimburse, defend
and hold Purchaser harmless from any and all costs (including attorney's fees)
asserted against, imposed on or incurred by Purchaser, directly or indirectly,
pursuant to or in connection with the application of any federal, state, local or
common law relating to pollution or protection of the environment which shall
be in accordance with, but not limited to, the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980, 42 U.S.C. Section 9601,
et seq., ('CERCLA" or "Superfund"), which was amended and upgraded by the
Superfund Amendment and Reauthorization Act of 1986 ('SARA'), including
any amendments or successor in function to these acts. This provision and
the rights of Purchaser, hereunder, shall survive Closing and are not deemed
satisfied by conveyance of title.
10.024 Any loss and/or damage to the Property between the date of this
Agreement and the date of Closing shall be Seller's sole risk and expense.
Page 3 of13CC Agreement02′12′2024
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Packet Pg. 397 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT10N COLLIER
TAX ID NUMBER:00775600007
XI. NOTICES
11.01 Any notice, request, demand, instruction, or other communication to be
given to either party hereunder shall be in writing, sent by facsimile with
automated confirmation of receipt, or by registered, or certified mail, return receipt
requested, postage prepaid, addressed as follows:
lf to Purchaser: Summer Araque, Coordinator
Conservation Collier Program
Collier County Parks and Recreation Division
Public Services Department
Golden Gate Community Park
3300 Santa Barbara Blvd.
Naples, Florida 34116
With a copy to: Attn: Vivian Rodriguez
Collier County Real Property Management
3335 Tamiami Trail East, Suite 102
Naples, Florida34112
Telephone number: 239-252-8402
Fax number: 239-252-8876
lfto Se∥er Conchla V Anslzabal
PO Box 554
Naples,FL 34114
Telephone numberi 239-529-3171
Emaill eanaples0309@omail com
11.02 The addressees and numbers for the purpose of this Article may be
changed by either party by giving written notice of such change to the other party
in the manner provided herein. For the purpose of changing such addresses or
addressees only, unless and until such written notice is received, the last
addressee and respective address stated herein shall be deemed to continue in
effect for all purposes.
XII. REAL ESTATE BROKERS
12.0'1 Any and all brokerage commissions or fees shall be the sole responsibility
of the Seller. Seller shall indemnifu Purchaser and hold Purchaser harmless from
and against any claim or liability for commission or fees to any broker or any other
person or party claiming to have been engaged by Seller as a real estate broker,
salesman or representative, in connection with this Agreement. Seller agrees to
pay any and all commissions or fees at closing pursuant to the terms of a separate
agreement, if any.
9 of43
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16.A.3.d
Packet Pg. 398 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT10N COLLIER
TAXlD NUMBER:00775600007
XIII. MISCELLANEOUS
13.01 This Agreement may be executed in any manner of counterparts which
together shall constitute the agreement of the parties.
13.02 This Agreement and the terms and provisions hereof shall be effective as of
the date this Agreement is executed by both parties and shall inure to the benefit
of and be binding upon the parties hereto and their respective heirs, executors,personal representatives, successors, successor trustee, and assignees
whenever the context so requires or admits.
13.03 Any amendment to this Agreement shall not bind any of the parties hereof
unless such amendment is in writing and executed and dated by purchaser and
seller. Any amendment to this Agreement shall be binding upon purchaser and
Seller as soon as it has been executed by both parties.
13.04 Captions and section headings contained in this Agreement are for
convenience and reference only; in no way do they define, describe, extend, or
limit the scope or intent of this Agreement or any provisions hereof.
13.05 All terms and words used in this Agreement, regardless of the number and
gender in which used, shall be deemed to include any other gender or number as
the context or the use thereof may require.
13.06 No waiver of any provision of this Agreement shall be effective unless it is in
writing signed by the party against whom it is asserted, and any waiver of any
provision of this Agreement shall be applicable only to the specific instance to
which it is related and shall not be deemed to be a continuing or future waiver as
to such provision or a waiver as to any other provision.
'13.07 lf any date specified in this Agreement falls on a Saturday, Sunday, or legal
holiday, then the date to which such reference is made shall be extended to the
next succeeding business day.
13.08 Seller is aware of and understands that the "offer,,to purchase represented
by this Agreement is subject to acceptance and approval by the Board of County
Commissioners of Collier County, Florida.
13.09 lf the Seller holds the Property in the form of a partnership, limited
partnership, corporation, trust, or any form of representative capacity whatsoever
for others, Seller shall make a written public disclosure, according to Chapter 2g6,
Florida Statutes, under oath, of the name and address of every person having a
beneficial interest in the Prope(y before Property held in such capacity is
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Packet Pg. 399 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT10N COLLIER
TAX:D NUMBER100775600007
conveyed to Collier County. (lf the corporation is registered with the Federal
Securities Exchange Commission or registered pursuant to Chapter 517, Florida
Statutes, whose stock is for sale to the general public, it is hereby exempt from the
provisions of Chapter 286, Florida Statutes.)
13.10 This Agreement is governed and construed in accordance with the laws of
the State of Florida.
XIV. ENTIRE AGREEMENT
14.01 This Agreement and the exhibits attached hereto contain the entire
agreement between the parties, and no promise, representation, warranty, or
covenant not included in this Agreement, or any such referenced agreements has
been or is being relied upon by either party. No modification or amendment of this
Agreement shall be of any force or effect unless made in writing and executed and
dated by both Purchaser and Seller. Time is of the essence of this Agreement.
REMAINDER OF THE PAGEINTENT!ONALLY LEFtt BLANK
S′GArATυ RESハ PPEAR OAr THE FOと とOИ ′A/GPハ GES
Page ll of 13 ①CC Agreemento2/12′2024
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16.A.3.d
Packet Pg. 400 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT10N COLLIER
TAX 10 NUMBER:00775600007
IN VV!TNESS llVHEREOF,the parties hereto have signed below
Dated ProjecUAcquisition Approved by BCC:
AS TO PURCHASER:
ATttEST:
CRYSTAL K K!NZEL,Clerk ofthe
Circul Coun and cOmptroller
BOARD OF COUNIY COMMiSS10NERS
COLLiER COUNIY,FLORIDA
By:
CHRiS HALL,Chairman, Deputy Clerk
AS ttO SELLER:
DATED:
Approved as to form and legality:
%…, Assistant County Attorney
CC Agreement02′12′2024
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16.A.3.d
Packet Pg. 401 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAT10N COLL ER
TAX:D NUMBER100775600007
EXHIBI丁 “A"
PROPERTYIDENT!F:CAT10N NUMBER:00775600007
The 1/Vest 4/2 0fthe Northeast4/4 ofthe Northwestl/4 0fthe Southwest4/4 0f SeClon 30,
Township 51 South,Range 27 East,Conier cOunty Florida
5 ACRES
Page 13 of13CC Agreement02′12/2024
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16.A.3.d
Packet Pg. 402 Attachment: Aristizabal Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
1
Conservation Collier Land Acquisition Program
Project Design Report
Aristizabal Property
Date: July 2024
Property Owner: Conchita V. Aristizabal
Folio(s): 00775600007
Location: McIlvane Marsh - Section 30, Township 51, Range 27
Size: 5.00 acres
Purchase Price: $20,000
History of Project:
Purpose of Project: Environmental Conservation – Conservation Collier Program
Program Qualifications:
This parcel is within McIlvane Marsh, an 800-acre area located south of U.S. 41 and just to the
west of Collier Seminole State Park, in Sections 29 and 30, Township 51, Range 27. Conservation
Collier owns 10 parcels totaling 381 acres, collectively known as “McIlvane Marsh Preserve”.
Rookery Bary National Estuarine Research Reserve (RBNERR) owns 2 parcels totaling 249 acres
that have been donated for mitigation purposes. Collier County also owns 20 acres of conservation
lands within the project area from a 1999 mitigation transaction which is held in the County
Transportation Department’s portfolio. Another 70 acres of privately owned land is preserved via
a conservation easement. Acquisition of the Aristizabal parcel will place approximately 406 acres
under County ownership, for a total of 725 acres in conservation status within McIlvane Marsh –
including private mitigation lands and RBNERR lands.
The Aristizabal parcel is a 5.00-acre parcel located on the west side of McIlvane Marsh, consisting
of mangrove swamp. Although this parcel is inaccessible, there is the potential, in other areas of
McIlvane Marsh, to provide appropriate access for nature-based recreation through State-owned
Rookery Bay lands, however, at present McIlvane Marsh is categorized as a Category 5 – Resource
Protection/Restoration Use Preserve. Although much of the marsh is inaccessible by vehicle or
foot, there is potential for canoe or kayak access, fishing and wildlife viewing via Curcie Road, a
paved, public right-of-way.
Acquisition of the Aristizabal parcel provides protection of water resource values including aquifer
recharge, water quality enhancement, protection of wetland dependent species, and flood control.
Coastal wetlands within McIlvane Marsh provide habitat for many wetland dependent species,
Selected for the “A” category, #1
priority, on the Active Acquisition List
(AAL) by CCLAAC
Selected for the “A”
category, #1 priority, on
AAL by BCC
Offer made
to owner Offer accepted
7/14/2023 10/10/2023 1/2/2024 5/23/2024
16.A.3.e
Packet Pg. 403 Attachment: Aristizabal-PDR (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
2
particularly bird and fish species. There is a known rookery within the McIlvane Marsh, and many
listed and non-listed bird species have been observed there. The marsh contains habitat for other
listed species, including American alligator (State –SSC*, Federal – T**) and American crocodile
(State – E***, Federal - E). While it is not known whether the parcel itself contains listed plant
species, it is likely to contain listed (but locally common) bromeliad species. Retaining the marsh
in its natural state provides protection both for developed properties to the north from storm surge
and water quality protection to adjoining marine and estuarine communities, as the plants, animals
and soils in coastal marshes absorb, filter, and neutralize many pollutants draining from the land.
The area also provides moderate to substantial recharge for the surficial aquifer.
Acquisition of the Aristizabal parcel will protect significant biological values by protecting listed
species habitat, providing connectivity to other conservation lands, and offering restoration
potential and ecological quality. The entire marsh appears to have good ecological quality, as
observed by staff during site visits and as reported by RBNERR staff. The Aristizabal parcel is
directly adjacent to conservation land to the north, south, and west. The entire McIlvane Marsh is
connected to public conservation and park lands, including the Collier Seminole State Park, Ten
Thousand Islands National Wildlife Refuge, Deltona Settlement Lands and, through them, to
RBNERR.
Zoning, Growth Management and Land Use Overlays: The parcel’s zoning classification is
Agricultural (A), which allows for 1 dwelling unit per 5 acres. There are no additional land use
overlays applicable.
Projected Management Activities: Projected management activities include the removal of
invasive plants (if accessible) and continued management partnerships with adjacent agency
owners – RBNERR, Collier Seminole State Park, and Ten Thousand Islands National Wildlife
Refuge. Conservation Collier coordinates invasive plant treatments and road maintenance
activities with partner agencies. Future partnerships are anticipated if prescribed fire is used as a
management tool within the Marsh.
Estimated Management Costs:
Management
Element 2025 2026 2027 2028
2029
Exotics $3,875 $3,875 $2,500 $2,500 $1,600
Total $3,875 $3,875 $2,500 $2,500 $1,600
SEE PAGES 3 AND 4 FOR AERIAL MAPS OF THE PARCEL.
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Packet Pg. 404 Attachment: Aristizabal-PDR (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
3
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Packet Pg. 405 Attachment: Aristizabal-PDR (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
4
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Packet Pg. 406 Attachment: Aristizabal-PDR (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATION COLLIER
TAX lD NUI,TBER: 41560241009
AGREEMENT FOR SALE AND PURCHASE
THIS AGREEMENT is made and entered into by and between ANACELY AYRA, as
Beneficiary, whose address is 6605 NW 74th Place, Tamarac, FL 33321 (hereinafter
referred to as "Seller''), and GOLLIER COUNTY, a political subdivision of the State of
Florida, its successors and assigns, whose address is 3335 Tamiami Trail East, Suite
101, Naples, FL34112 (hereinafter referred to as "Purchaser").
WITNESSETH
WHEREAS, Seller is the owner of that certain parcel of real property (hereinafter
referred to as "Property"), located in Collier County, State of Florida, and being more
particularly described in Exhibit "A", attached hereto and made a part hereof by
reference.
WHEREAS, Purchaser is desirous of purchasing the Property, subject to the conditions
and other agreements hereinafter set forth, and Seller is agreeable to such sale and to
such conditions and agreements.
NOW, THEREFORE, and for and in consideration of the premises and the respective
undertakings of the parties hereinafter set forth and the sum of Ten Dollars ($10.00), the
receipt and sufficiency of which is hereby acknowledged, it is agreed as follows:
1.01 ln consideration of the purchase prlce and upon the terms and conditions
hereinafter set forth, Seller shall sell to Purchaser and Purchaser shall purchase
from Seller the Property, described in Exhibit "A".
II. PAYMENT OF PURCHASE PRICE
2.01 The purchase price (the "Purchase Price") for the Property shall be Sixty-
Five Thousand Seven Hundred Ten Dollars and 00/100 ($65,710.00), (U.S.
Currency) payable at time of closing.
3.01 The Closing (THE "CLOSING DATE", "DATE OF CLOSING", OR "CLOSING") of
the transaction shall be held on or before one hundred and eighty (180) days
following execution of this Agreement by the Purchaser, or within thirty (30) days of
Purchaser's receipt of all closing documents, whichever is later. The Closing shall
be held at the office of the insuring title company or by mail. The procedure to be
followed by the parties in connection with the Closing shall be as follows:
CC Agrcetnent O2l 1 212024 Page 'l of 13
I. AGREEMENT
III, CLOSING
16.A.3.f
Packet Pg. 407 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATION COLLIER
TAX lD NUITBER: 4156024'1009
3.0'1 '1 Seller shall convey a marketable title free of any liens, encumbrances,
exceptions, or qualifications. Marketable title shall be determined according to
applicable title standards adopted by the Florida Bar and in accordance with law.
At the Closing, the Seller shall cause to be delivered to the Purchaser the items
specified herein and the following documents and instruments duly executed and
acknowledged, in recordable form:
3.011'l Warranty Deed in favor of Purchaser conveying title to the Property,
free and clear of all liens and encumbrances other than:
(a) The lien for current taxes and assessments.
(b) Such other easements, restrictions, or conditions of record
3.01 12 Combined Purchaser-Seller closing statement
3.01 13 A "Gap Tax Proration, Owner's Non-Foreign Affidavit", as required by
Section 1445 of the lnternal Revenue Code and as required by the title
insurance underwriter to insure the "gap" and issue the policy contemplated
by the title insurance commitment.
3.012 At the Closing, the Purchaser, or its assignee, shall cause to be
delivered to the Seller the following:
3.0121 A negotiable instrument (County Warrant) in an amount equal to the
Purchase Price. No funds shall be disbursed to Seller until the Title
Company verifies that the state of the title to the Property has not changed
adversely since the date of the last endorsement to the commitment,
referenced in Section 4.011 thereto, and the Title Company is irrevocably
committed to pay the Purchase Price to Seller and to issue the Owner's title
policy to Purchaser in accordance with the commitment immediately after the
recording of the deed.
3.0122 Funds payable to the Seller representing the cash payment due at
Closing in accordance with Article lll hereof, shall be subject to adjustment for
prorations as hereinafter set forth.
3.02 Each party shall be responsible for payment of its own attorney's fees. Seller,
at its sole cost and expense, shall pay at Closing all documentary stamp taxes due
relating to the recording of the Warranty Deed, in accordance with Chapter 201.01,
CC Agteernenl 021 1 212024 Page 2 of '13
3.0114 A W-9 Form, "Request for Taxpayer ldentification and Certification"
as required by the lnternal Revenue Service.
16.A.3.f
Packet Pg. 408 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATION COLLIER
TAX lD NUMBER: 41560241009
Florida Statutes, and the cost and electronic fee of recording any instruments
necessary to clear Seller's title to the Property. The cost of the Owner's Form B
Title Policy, issued pursuant to the Commitment provided for in Section 4.011
below, shall be paid by Purchaser. The cost of the title commitment shall also be
paid by Purchaser. lf required by a Phase I report and desired by Purchaser,
Seller shall pay for a Phase ll Environmental Assessment selected by Purchaser.
3.03 Purchaser shall pay for the cost of recording the Warranty Deed. Real
Property taxes shall be prorated based on the current year's tax with due
allowance made for maximum allowable discount, homestead and any other
applicable exemptions and paid by Seller. lf Closing occurs at a date which the
current year's millage is not fixed, taxes will be prorated based upon such prior
year's millage.
4.01 Upon execution of this Agreement by both parties or at such other time as
specified within this Article, Purchaser and/or Seller, as the case may be, shall
perform the following within the times stated, which shall be conditions precedent
to the Closing;
4.01 1 Within fifteen (15) days after the date hereof, Purchaser shall obtain as
evidence of title an ALTA Commitment for an Owner's Title lnsurance Policy
(ALTA Form 8-1970) covering the Property, together with hard copies of all
exceptions shown thereon. Purchaser shall have thirty (30) days, following
receipt of the title insurance commitment, to notify Seller in writing of any
objection to title other than liens evidencing monetary obligations, if any, which
obligations shall be paid at closing. lf the title commitment contains exceptions
that make the title unmarketable, Purchaser shall deliver to the Seller written
notice of its intention to waive the applicable contingencies or to terminate this
Ag reement.
4.012 lf Purchaser shall fail to advise the Seller in writing of any such
objections in Seller's title in the manner herein required by this Agreement, the
title shall be deemed acceptable. Upon notification of Purchaser's objection to
title, Seller shall have thirty (30) days to remedy any defects to convey good
and marketable title at Selleis expense, except for llens or monetary
obligations which will be satisfied at Closing. Seller, at its sole expense, shall
use its best efforts to make such title good and marketable. ln the event Seller
is unable to cure said objections within said time period, Purchaser, by
providing written notice to Seller within seven (7) days after expiration of said
thirty (30) day period, may accept title as it then is, waiving any objection; or
Purchaser may terminate the Agreement. A failure by Purchaser to give such
written notice of termination within the time period provided herein shall be
CC Agteement 02 I 1 212024 Page 3 of 13
IV. REQUIREMENTS AND CONDITIONS
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Packet Pg. 409 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVAIION COLLIER
TAX lD NUMBER: 41560241009
deemed an election by Purchaser to accept the exceptions to title as shown in
the title commitment.
4.013 Seller agrees to furnish any existing surveys of the Property in Seller's
possession to Purchaser within ten (10) days of the effective date of this
Agreement. Purchaser shall have the option, at its own expense, to obtain a
current survey of the Property prepared by a surveyor licensed by the State of
Florida. No adjustments to the Purchase Price shall be made based upon any
change to the total acreage referenced in Exhibit "A," unless the difference in
acreage revealed by survey exceeds 5% of the overall acreage. lf the survey
provided by Seller or obtained by Purchaser, as certified by a registered
Florida surveyor, shows: (a) an encroachment onto the property; or (b) that an
improvement located on the Property projects onto lands of others, or (c) lack
of legal access to a public roadway, the Purchaser shall notify the Seller in
writing of such encroachment, projection, or lack of legal access, and Seller
shall have the option of curing said encroachment or projection, or obtaining
legal access to the Property from a public roadway, within sixty (60) days of
receipt of said written notice from Purchaser. Purchaser shall have ninety (90)
days from the effective date of this Agreement to notify Seller of any such
objections. Should Seller elect not to or be unable to remove the
encroachment, projection, or provide legal access to the property within said
sixty (60) day period, Purchaser, by providing written notice to Seller within
seven (7) days after expiration of said sixty (60) day period, may accept the
Property as it then is, waiving any objection to the encroachment, or projection,
or lack of legal access, or Purchaser may terminate the Agreement. A failure
by Purchaser to give such written notice of termination within the time period
provided herein shall be deemed an election by Purchaser to accept the
Property with the encroachment, or projection, or lack of legal access.
V. INSPECTION PERIOD
5.01 Purchaser shall have one hundred twenty (120) days from the date of this
Agreement, ("lnspection Period"), to determine through appropriate investigation
that:
1. Soil tests and engineering studies indicate that the Property can be developed
without any abnormal demucking, soil stabilization or foundations.
2. There are no abnormal drainage or environmental requirements to the
development of the Property.
3. The Property is in compliance with all applicable State and Federal environ-
mental laws and the Property is free from any pollution or contamination.
4. The Property can be utilized for its intended use and purpose in the
Conservation Colller program.
CC Agteemenl02h2/2o24 Page 4 of 13
16.A.3.f
Packet Pg. 410 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
5.02 lf Purchaser is not satisfied, for any reason whatsoever, with the results of
any investigation, Purchaser shall deliver to Seller prior to the expiration of the
lnspection Period, written notice of its intention to waive the applicable
contingencies or to terminate this Agreement. lf Purchaser fails to notify the Seller
in writing of its specific objections as provided herein within the lnspection Period,
it shall be deemed that the Purchaser is satisfied with the results of its
investigations and the contingencies of this Article V shall be deemed waived. ln
the event Purchaser elects to terminate this Agreement because of the right of
inspection, Purchaser shall deliver to Seller copies of all engineering reports and
environmental and soil testing results commissioned by Purchaser with respect to
the Property.
5.03 Purchaser and its agents, employees and servants shall, at their own risk and
expense, have the right to go upon the Property for the purpose of surveying and
conducting site analyses, soil borings and all other necessary investigation.
Purchaser shall, in performing such tests, use due care. Seller shall be notified by
Purchaser no less than twenty-four (24) hours prior to said inspection of the
Property.
VI. INSPECTION
6.01 Seller acknowledges that the Purchaser, or its authorized agents, shall have
the right to inspect the Property at any time prior to the Closing.
VII. POSSESSION
7.01 Purchaser shall be entitled to full possession of the Property at Closing.
VIII. PRORATIONS
8.0'1 Ad valorem taxes next due and payable, after closing on the Property, shall
be prorated at Closing based upon the gross amount of current year taxes, and
shall be paid by Seller.
CC Agteemenl O2l 1 21 2024 Page 5 of l3
CONSERVATION COLLIER
TAX lD NU[rBER: 41560241009
IX. TERMINATION AND REMEDIES
9.01 lf Seller shall have failed to perform any of the covenants and/or agreements
contained herein which are to be performed by Seller, within ten (10) days of
written notification of such failure, Purchaser may, at its option, terminate this
Agreement by giving written notice of termination to Seller. Purchaser shall have
the right to seek and enforce all rights and remedies available at law or in equity to
a contract vendee, including the right to seek specific performance of this
Ag reement.
16.A.3.f
Packet Pg. 411 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATION COLLIER
TAX lD NUMBER: 41560241009
9.02 The parties acknowledge that the remedies described herein and in the
other provisions of this Agreement provide mutually satisfactory and sufficient
remedies to each of the parties and take into account the peculiar risks and
expenses of each of the parties.
X. SELLER'S AND PURCHASER'S REPRESENTATIONS AND WARRANTIES
10.01 Seller and Purchaser represent and warrant the following:
'1 0.0'12 Seller has full right, power, and authority to own and operate the
Property, and to execute, deliver, and perform its obligations under this
Agreement and the instruments executed in connection herewith, and to
consummate the transaction contemplated hereby. All necessary
authorizations and approvals have been obtained authorizing Seller and
Purchaser to execute and consummate the transaction contemplated hereby.
At Closing, certified copies of such approvals shall be delivered to Purchaser
and/or Seller, if necessary.
10.013 The warranties set forth in this paragraph shall be true on the date of
this Agreement and as of the date of Closing. Purchaser's acceptance of a
deed to the said Property shall not be deemed to be full performance and
discharge of every agreement and obligation on the part of the Seller to be
performed pursuant to the provisions of this Agreement.
1 0.0 14 Seller represents that it has no knowledge of any actions, suits, claims,
proceedings, litigation or investigations pending or threatened against Seller, at
law, equity or in arbitration before or by any federal, state, municipal or other
governmental instrumentality that relate to this agreement or any other
property that could, if continued, adversely affect Seller's ability to sell the
Property to Purchaser according to the terms of this Agreement.
10.015 No party or person other than Purchaser has any right or option to
acquire the Property or any portion thereof.
10.016 Until the date fixed for Closing, so long as this Agreement remains in
force and effect, Seller shall not encumber or convey any portion of the
CC Agteemenl 02 I 1 2 I 2024 Page 6 of 13
10.0'1 1 Seller and Purchaser have full right and authority to enter into and to
execute this Agreement and to undertake all actions and to perform all tasks
required of each hereunder. Seller is not presently the subject of a pending,
threatened or contemplated bankruptcy proceeding. Seller further represents
the Property is free from any and all occupants, tenants, and other persons or
entities claiming possession of the Property at the time of closing. This
provision shall survive closing.
16.A.3.f
Packet Pg. 412 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATION COLLIER
TAX lD NUiTBER: 41560241009
Property or any rights therein, nor enter into any agreements granting any
person or entity any rights with respect to the Property or any part thereof,
without first obtaining the written consent of Purchaser to such conveyance,
encumbrance, or agreement which consent may be withheld by Purchaser for
any reason whatsoever.
10.017 Seller represents that they have (it has) no knowledge that there is or
ever has been incinerators, septic tanks, or cesspools on the Property; all
waste, if any, is discharged into a public sanitary sewer system; Seller
represents that they have (it has) no knowledge that any pollutants are or have
been discharged from the Property, directly or indirectly into any body of water.
Seller represents that to their knowledge the Property has not been used for
the production, handling, storage, transportation, manufacture, or disposal of
hazardous or toxic substances or wastes, as such terms are defined in
applicable laws and regulations, or any other activity that would have toxic
results, and no such hazardous or toxic substances are currently used in
connection with the operation of the Property, and there is no proceeding or
inquiry by any authority with respect thereto. Seller represents that they have
(it has) no knowledge that there is ground water contamination on the Property
or potential of ground water contamination from neighboring properties. Seller
represents that they have (it has) no knowledge that there is or ever has been
any storage tanks for gasoline, or any other substances are or were located on
the Property at any time during or prior to Seller's ownership thereof. Seller
represents that they have (it has) no knowledge that any part of the Property
has ever been used as a sanitary landfill.
10.018 Seller has no knowledge that the Property and Seller's operations
concerning the Property are in violation of any applicable Federal, State or
local statute, law or regulation, or of any notice from any governmental body
has been served upon Seller claiming any violation of any law, ordinance, code
or regulation or requiring or calling attention to the need for any work, repairs,
construction, alterations or installation on or in connection with the Property in
order to comply with any laws, ordinances, codes or regulation with which
Seller has not complied.
10.01 9 Seller has no knowledge of unrecorded leases, licenses or other
possessory interests, restrictions, easements, or rights of way (other than
existing zoning regulations) that restrict or affect the use of the Property, and
there are no maintenance, construction, advertising, management, leasing,
employment, service, or other contracts affecting the Property.
'10.020 Seller has no knowledge that there are any suits, actions or arbitration,
bond issuances or proposals therefor, proposals for public improvement
assessments, pay-back agreements, paving agreements, road expansion or
CC Agteemenl02h2l2024 Page 7 of '13
16.A.3.f
Packet Pg. 413 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATION COLLIER
TAX lD NUMBER: 41560241009
improvement agreements, utility moratoriums, use moratoriums, improvement
moratoriums, administrative or other proceedings or governmental
investigations or requirements, formal or informal, existing or pending or
threatened which affects the Property or which adversely affects Selleis ability
to perform hereunder; nor is there any other charge or expense upon or related
to the Property which has not been disclosed to Purchaser in writing prior to
the effective date of this Agreement.
10.021 Seller acknowledges and agrees that Purchaser is entering into this
Agreement based upon Seller's representations stated above and on the
understanding that Seller will not cause the zoning or physical condition of the
Property to change from its existing state on the effective date of this
Agreement up to and including the Date of Closing. Therefore, Seller agrees
not to enter into any contracts or agreements pertaining to or affecting the
Property and not to do any act or omit to perform any act which would change
the zoning or physical condition of the Property or the governmental
ordinances or laws governing same. Seller also agrees to notify Purchaser
promptly of any change in the facts contained in the foregoing representations
and of any notice or proposed change in the zoning, or any other action or
notice, that may be proposed or promulgated by any third parties or any
governmental authorities having jurisdiction of the development of the property
which may restrict or change any other condltion of the Property.
10.022 Al the Closing, Seller shall deliver to Purchaser a statement
(hereinafter called the "Closing Representative Statement") reasserting the
foregoing representations as of the Date of Closing, which provisions shall
survive the Closing.
10.023 Seller represents, warrants and agrees to indemnify, reimburse, defend
and hold Purchaser harmless from any and all costs (including attorney's fees)
asserted against, imposed on or incurred by Purchaser, directly or indirectly,
pursuant to or in connection with the application of any federal, state, local or
common law relating to pollution or protection of the environment which shall
be in accordance with, but not limited to, the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980, 42 U.S.C. Section 9601,
et seq., ("CERCLA" or "Superfund"), which was amended and upgraded by the
Superfund Amendment and Reauthorization Act of 1986 ("SARA"), including
any amendments or successor in function to these acts. This provision and
the rights of Purchaser, hereunder, shall survive Closing and are not deemed
satisfied by conveyance of title.
10.024 Any loss and/or damage to the Property between the date of this
Agreement and the date of Closing shall be Seller's sole risk and expense.
CC Agteemenl 021 1 212024 Page 8 of 13
16.A.3.f
Packet Pg. 414 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATION COLLIER
TAX lD NUN4 BER: 41 560241009
1'1 .0'l Any notice, request, demand, instruction, or other communication to be
given to either party hereunder shall be in writing, sent by facsimile with
automated confirmation of receipt, or by registered, or certified mail, return receipt
requested, postage prepaid, addressed as follows:
lf to Purchaser:Summer Araque, Coordinator
Conservation Collier Program
Collier County Parks and Recreation Division
Public Services Department
Golden Gate Community Park
3300 Santa Barbara Blvd.
Naples, Florida 341 '16
With a copy to:Deborah Goodaker, Property Acquisition Specialist ll
Collier County Real Property Management
3335 Tamiami Trail East, Suite 102
Naples, Florida 34112
Telephone No.: 239-252-8922
Fax No.: 239-252-8876
lf to Seller:Anacely Ayra
6605 NW 74th Place
Tamarac, FL 33321
Telephone No.: 954-7 22-27 81
With a copy to: Allan T. Griffith, Esq
allan allan riffith.com
2100 McGregor Blvd.
Fort Myers, FL 33901
Telephone No.: 239-334-91 19
11.02 The addressees and numbers for the purpose of this Article may be
changed by either party by giving written notice of such change to the other party
in the manner provided herein. For the purpose of changing such addresses or
addressees only, unless and until such written notice is received, the last
addressee and respective address stated herein shall be deemed to continue in
effect for all purposes.
Page I of '13
XI. NOTICES
CC Agteemenl O2h2l2O24
16.A.3.f
Packet Pg. 415 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATION COLLIER
TAX lD NUIVIBER: 4156024100S
13.01 This Agreement may be executed in any manner of counterparts which
together shall constitute the agreement of the parties.
13.02 This Agreement and the terms and provisions hereof shall be effective as of
the date this Agreement is executed by both parties and shall inure to the benefit
of and be binding upon the parties hereto and their respective heirs, executors,
personal representatives, successors, successor trustee, and assignees
whenever the context so requires or admits.
13.03 Any amendment to this Agreement shall not bind any of the parties hereof
unless such amendment is in writing and executed and dated by Purchaser and
Seller. Any amendment to this Agreement shall be binding upon Purchaser and
Seller as soon as it has been executed by both parties.
'13.04 Captions and section headings contained in this Agreement are for
convenience and reference only; in no way do they define, describe, extend, or
limit the scope or intent of this Agreement or any provisions hereof.
13.05 All terms and words used in this Agreement, regardless of the number and
gender in which used, shall be deemed to include any other gender or number as
the context or the use thereof may require.
13.06 No waiver of any provision of this Agreement shall be effective unless it is in
writing signed by the party against whom it is asserted, and any waiver of any
provision of this Agreement shall be applicable only to the specific instance to
which it is related and shall not be deemed to be a continuing or future waiver as
to such provision or a waiver as to any other provision.
@CC Agtee,r,enl 021 1 21 2024 Page l0 of 13
XII. REAL ESTATE BROKERS
12.01 Any and all brokerage commissions or fees shall be the sole responsibility
of the Seller. Seller shall indemnify Purchaser and hold Purchaser harmless from
and against any claim or liability for commission or fees to any broker or any other
person or party claiming to have been engaged by Seller as a real estate broker
salesman or representative, in connection with this Agreement. Seller agrees to
pay any and all commissions or fees at closing pursuant to the terms of a separate
agreement, if any.
XIII- MISCELLANEOUS
13.07 lf any date specified in this Agreement falls on a Saturday, Sunday, or legal
holiday, then the date to which such reference is made shall be extended to the
next succeeding business day.
16.A.3.f
Packet Pg. 416 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATION COLLIER
TAX lD NUMBER: 41560241009
'13.08 Seller is aware of and understands that the "offer" to purchase represented
by this Agreement is subject to acceptance and approval by the Board of County
Commissioners of Collier County, Florida.
13.09 lf the Seller holds the Property in the form of a partnership, limited
partnership, corporation, trust, or any form of representative capacity whatsoever
for others, Seller shall make a written public disclosure, according to Chapter 286,
Florida Statutes, under oath, of the name and address of every person having a
beneficial interest in the Property before Property held in such capacity is
conveyed to Collier County. (lf the corporation is registered with the Federal
Securities Exchange Commission or registered pursuant to Chapter 517, Florida
Statutes, whose stock is for sale to the general public, it is hereby exempt from the
provisions of Chapter 286, Florida Statutes.)
13.10 This Agreement is governed and construed in accordance with the laws of
the State of Florida.
XIV. ENTIRE AGREEMENT
XV. ACKNOWLEDGMENT OF POTENTIAL FUTURE
15.01 Seller and Purchaser acknowledge and agree that any portion of the
Property may be used for public road right of way and roadway related
improvements, including, but not limited to, stormwater and utility improvements,
at the sole discretion of Purchaser.
S/GNATURESAPPEAR ON THE FOLLOWNG PAGES
CC Agteemenl 021 1 21 2024 Page 1'1 of 13
14.0'l This Agreement and the exhibits attached hereto contain the entire
agreement between the parties, and no promise, representation, warranty, or
covenant not included in this Agreement, or any such referenced agreements has
been or is being relied upon by either party. No modification or amendment of this
Agreement shall be of any force or effect unless made in writing and executed and
dated by both Purchaser and Seller. Time is of the essence of this Agreement.
16.A.3.f
Packet Pg. 417 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
CONSERVATION COLLIER
TAX lD NUMBER: 41560241009
lN WTNESS WHEREOF, the parties hereto have signed below.
Dated ProjecVAcquisition Approved by BCC.
AS TO PURCHASER:
ATTEST:
CRYSTAL K. KINZEL, CIerK of the
Circuit Court and Comptroller
, Deputy Clerk
AS TO SELLER:
DATED:
By:
Approved as to form and legality:
Assislant County Attomey
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
By:
CHRIS HALL,
CC Agteerrl€nl Ozt 1 212021 Page 12 of 13
16.A.3.f
Packet Pg. 418 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
EXHIBIT "A"
PROPERry IDENTIFICATION NUMBER: 41 560241009
The West 150'of Tract No. 124, Unit 91A, Golden Gate Estates, according to the map
or plat thereof recorded in Plat Book g, Page 9, of the Public Records of Collier County,
Florida.
Subject to easements, Restrictions and Reservations of Record with the Clerk of the
Court in and for Collier County, Florida.
Comprised of 3.18 Acres according to the Collier County Property Appraiser Records
CC Agteefr,enl O2l'l 21 2024 Page 13 of 13
CONSERVATION COLLIER
TAX lD NUMBERT 41560241009
16.A.3.f
Packet Pg. 419 Attachment: Ayra Agreement (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
1
Conservation Collier Land Acquisition Program
Project Design Report
Ayra Property
Date: July 2024
Property Owner: Anacely Ayra
Folio(s): 41560241009
Location: GOLDEN GATE EST UNIT 91A TR 124
Size: 3.18 acres
Purchase Price: $65,710
History of Project:
Purpose of Project: Environmental Conservation – Conservation Collier Program
Program Qualifications:
This parcel is within the Dr. Robert H. Gore III (Gore) Preserve multi-parcel project boundary.
The Ayra parcel was considered due to its proximity to an existing Conservation Collier preserve.
The Gore Preserve project area, which includes the Ayra parcel, met 5 out of 6 Initial Screening
Criteria identified in the Conservation Collier Ordinance, No. 2007-65, as amended, including
presence of native habitat, potential for nature-based recreational and educational opportunities,
protection of water resource values and wetland dependent species habitat, presence of significant
biological/ecological values, listed species habitat, connectivity, and restoration potential.
The parcel offers pedestrian access from 42nd Ave. SE, west of Desoto Blvd. S. This property could
accommodate outdoor recreation, particularly due to the proximity to the Dr. Robert H. Gore III
Preserve. Potential public uses include hiking, nature photography, bird watching, and
environmental education.
The project area is approximately 75% wetlands, with the remaining 25% seasonal wetlands.
Significant areas of karst have been observed in the area. Karst is limestone terrain characterized
by sinkholes, caverns and underground streams, and is a wetland indicator. Plant communities
found on the property are consistent with mapped soils and provide habitat for wetland dependent
species. The project area is mapped by the South Florida Water Management District as
contributing 43’ to 56” annually of water to the Surficial Aquifer System and can be expected to
contribute to the attenuation of area flood waters. Hydrologic indicators such as karst topography,
cypress knees, and water marks on buttressed cypress trees provide evidence of seasonal flooding.
Selected for the “A” category, #1
priority, on the Active Acquisition List
(AAL) by CCLAAC
Selected for the “A”
category, #1 priority, on
AAL by BCC
Offer made
to owners Offer accepted
7/14/2023 10/10/2023 3/8/2024 4/18/2024
16.A.3.g
Packet Pg. 420 Attachment: Ayra-PDR-Gore (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
2
The mature cypress trees found on the property indicate that the area has historically contained
wetlands.
Invasive exotic plant species are present in significant amounts, up to 95% along the roadside and
approximately 50% interiorly. The primary invasive exotic plant is Brazilian pepper (Schinus
terebinthifolius), but others are likely also present.
The project area contains protected species of plants, including giant sword fern (Nephrolepis
biserrata) and several listed bromeliads in the Tillandsia genus. A neighbor and environmental
professional who is familiar with the property reported 5 native orchid species present within the
project area. The same neighbor has seen 5 panthers in the area since 2014 (including a panther
with kittens), dozens of Florida black bears (including females with cubs), and numerous other
wildlife. The observed habitat and location would support the presence of Everglades mink
(Neovison vison evergladensis), tricolored heron (Egretta tricolor), and little blue heron (Egretta
caerulea), all state-protected species.
The property is within an historic wetland area that connects on the east with the Florida Panther
National Wildlife Refuge (FPNWR) via the old Ford Test Track. The Gore Preserve and
surrounding lands enhance the FPNWR by acting as a buffer and providing a reasonably large
sized wild land addition north of I-75. There are wildlife underpasses at the adjacent Faka Union
and nearby Miller canals creating an ecological link south under I-75 to the Picayune Strand State
Forest. A little over two miles to the west are the North Belle Meade sending lands. The Gore
project is within the Florida Fish and Wildlife Conservation Commission (FWC) Primary Panther
habitat zone. The Ayra parcel expands the Gore Preserve. This parcel, joined with many others,
could permanently protect a corridor between North Belle Meade and the Florida Panther National
Wildlife Refuge.
Zoning, Growth Management and Land Use Overlays: The parcel is within the Northern
Golden Gate Estates. The zoning classification is Estates (E), a rural residential classification.
There are no additional land use overlays applicable.
Projected Management Activities: Projected management activities include the removal of
invasive plants, the development of a Land Management Plan, and continued development of
public access to selected portions of the preserve.
Estimated Management Costs:
Management
Element 2025 2026 2027 2028
2029
Exotics $1,600 $1,300 $1,300 $1,300 $800
Signage $200
Total $1,800 $1,300 $1,300 $1,300 $800
SEE PAGES 3 AND 4 FOR AERIAL MAPS OF THE PARCEL.
16.A.3.g
Packet Pg. 421 Attachment: Ayra-PDR-Gore (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
3
16.A.3.g
Packet Pg. 422 Attachment: Ayra-PDR-Gore (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
4
16.A.3.g
Packet Pg. 423 Attachment: Ayra-PDR-Gore (29226 : Conservation Collier - Cycle 12A - Aristizabal and Ayra Parcels)
Ayra
Purchase Agreements approved 06/11/2024
Purchase Agreements approved 06/25/2024
16.A.3.h
Packet Pg. 424 Attachment: Gore Properties for Conservation Collier 07.23.2024 (29226 : Conservation Collier - Cycle
APPRAISAL REPORT
FOR
THE CONSERVATION COLLIER
PROGRAM AND THE COLLIER
COUNTY BOARD OF COUNTY
COMMISSIONERS
SUBJECT PROPERTY:
CONCHITA V. ARISTIZABAL
5.00 ACRES OFF CURCIE ROAD
NAPLES, FL 34114
AT THE REQUEST OF:
ROOSEVELT LEONARD, R/W-AC
SUPERVISOR – REAL PROPERTY
MANAGEMENT
COLLIER COUNTY FACILITIES
MANAGEMENT/REAL PROPERTY
3335 TAMIAMI TRAIL E., STE. 101
NAPLES, FL 34112
ASSIGNMENT NO.:
6578-TS
APPRAISAL EFFECTIVE DATE:
NOVEMBER 20, 2023
DATE OF REPORT:
DECEMBER 13, 2023
6578 Report Table of Contents
Carroll & Carroll
Table of Contents
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS ......................................................... 1
CONSERVATION FEATURES SUMMARY OVERVIEW ................................................................. 2
CERTIFICATION ..................................................................................................................................... 3
SCOPE OF WORK ................................................................................................................................... 5
ESTATE APPRAISED .............................................................................................................................. 6
DEFINITION OF MARKET VALUE ..................................................................................................... 7
ASSUMED EXPOSURE TIME ................................................................................................................ 7
AREA INFORMATION .......................................................................................................................... 8
MARKET AREA ..................................................................................................................................... 17
PROPERTY INFORMATION ............................................................................................................... 28
SITE DESCRIPTION .......................................................................................................................... 30
ENVIRONMENTAL CONTAMINATION .................................................................................... 32
NATURAL RESOURCE CONCERNS ............................................................................................ 33
ZONING .............................................................................................................................................. 37
ASSESSMENT AND TAXES ............................................................................................................ 39
FLOOD ZONE DATA ....................................................................................................................... 40
TRANSACTIONAL HISTORY ........................................................................................................ 41
CURRENT STATUS ........................................................................................................................... 41
HIGHEST AND BEST USE ................................................................................................................... 42
CONSIDERATION OF APPROACHES ............................................................................................. 43
SALES COMPARISON APPROACH ................................................................................................. 44
LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES ............................. 46
VACANT LAND COMPARABLES ................................................................................................ 47
LAND SALES ADJUSTMENT GRID .............................................................................................. 53
ESTIMATE OF VALUE ......................................................................................................................... 58
ADDENDA ............................................................................................................................................. 59
6578 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
Conchita V. Aristizabal Parcel
5.00 Acres Off Curcie Road, Naples, FL 34114
Property Description
A 5.00-acre vacant parcel consisting of mangrove swamp
located beyond the paved portion of Curcie Road within
the McIlvane Marsh Preserve in Naples, Florida.
Property Type Vacant Land
Owner of Record Conchita V. Aristizabal
Property ID # 00775600007
CLIENT INFO & VALUE CONCLUSIONS
Client Collier County Facilities Management Department
Intended Use
To assist the Conservation Collier Program and the Collier
County Board of County Commissioners.
Intended Users
Conservation Collier Program and the Collier County
Board of County Commissioners.
Appraisal Effective Date November 20, 2023
Date of Report December 13, 2023
Date of Inspection November 20, 2023
Purpose of Appraisal Estimate market value “As Is”
Estate Appraised Fee Simple
Interest Appraised 100%
Estimated Market Value $20,000
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 CONDITIONS
None
6578 Report Conservation Summary Overview
Carroll & Carroll 2
CONSERVATION FEATURES SUMMARY OVERVIEW
Project Name:
Conchita V. Aristizabal Appraisal Project
5.00 Acres Off of Curcie Road, Naples, FL 34114
Folio Number & Owner(s) of Record:
00775600007
Conchita V. Aristizabal
Zoning/Overlays:
A – Rural Agricultural District
(Collier County)
Zoning Considerations for TDR’s, PHU, other endangered species:
N/A
Was the cost to mitigate wetlands or endangered species taken into consideration?
The entire property and the land use covers are various types of wetlands. A portion of the
property could be mitigated in order to construct a single-family residence, but there will be
costs associated.
Scope of Proposed Mitigation:
N/A
Land Area:
5.00 gross acres
Access for the Parcel Taken Into Consideration:
The subject parcel is not physically accessible.
Highest and Best Use:
The maximally productive use is that the property be purchased for preservation,
conservation, and restoration.
Date of Estimated Value:
November 20, 2023
Estimated Value:
$20,000
6578 Report Certification
Carroll & Carroll 3
CERTIFICATION
I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF:
I did not personally inspect the subject property due to its physical location and
therefore I relied on aerial photographs and the Conservation Collier Initial Criteria
Screening Report. I personally inspected Comparable 6 and relied on aerial
photography for Comparables 1, 2, 3, 4, and 5.
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.
6578 Report Certification
Carroll & Carroll 4
No one other than the undersigned prepared the analyses, opinions and conclusions
concerning real estate that are set forth in this report.
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
6578 Report Scope of Work
Carroll & Carroll 5
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:
• Reviewed aerial photographs, land use plans, the Land Development Code, the
Conservation Collier Initial Criteria Screening Report, an Environmental Assessment,
and other documentation.
• Reviewed how the property relates to its neighborhood and to the broader market area
in development of an opinion of highest and best use.
• Researched vacant land comparable sales, listings, and pending sales.
• Developed the sales comparison approach.
• Estimated the market value of the fee simple estate.
• Prepared an appraisal report summarizing the appraisal assignment, the property
appraised, the application of the appraisal methodology, and the logical support for the
value conclusion.
Sources of market data included local and regional MLS systems, CoStar, LoopNet, public
records, and interviews with real estate brokers.
6578 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.
6578 Report Definition of Market Value
Carroll & Carroll 7
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 6 and 9 months.
6578 Report Area Analysis
Carroll & Carroll 8
AREA INFORMATION
COLLIER COUNTY ANALYSIS
An analysis of geography, transportation, population, employment, income, and education
for Collier County is performed using data provided by Site to Do Business, Florida Office
of Economic & Demographic, United States Department of Labor, all recognized source(s).
GEOGRAPHY
Collier County is the most southerly county on Florida's west coast offering mainland
coastal development. Collier County is west of Ft. Lauderdale and south of Tampa. With
2,025 square miles of land area, it is the largest county in Florida. About 63% of the land
area is in public ownership, is set aside for environmental preservation, or is scheduled for
public land acquisition.
The region enjoys a climate that is classified as subtropical. Summers are relatively mild,
and winters are usually frost free. A hard freeze is a rarity. The climate, especially in winter,
is one that attracts and is enjoyable to most people.
The geography of the area runs generally northwest and southeast as indicated by the trend
of the coastline. Beaches extend from the northern county line south to Cape Romano and
then, as the coastline trends further to the southeast, beaches give over to mangrove islands
and swamps. Moving northeastward from the beaches, elevations increase very slowly.
Most of the county is less than 15 feet above mean sea level. Although changes in elevation
6578 Report Area Analysis
Carroll & Carroll 9
are gradual, they are well defined by variations in vegetation. Much of the county is, or was
once, wetland. The once plentiful marine resources are largely depleted, but still provide
good sport fishing.
Population centers include the coastal communities of Naples, Marco Island and
Everglades/Chokoloskee. Immokalee, the single large interior community, is in north
Collier County and is the agricultural center of the region.
POPULATION
“The social forces studied by appraisers primarily relate to population characteristics. The
demographic composition of the population reveals the potential demand for real estate,
which makes the proper analysis and interpretation of demographic trends important in an
appraiser’s analysis.” The total population, it's composition by age and gender, and the rate
of household formation and dissolution strongly influence real property values. (The
Appraisal of Real Estate 14th Edition)
Collier County’s population has continued to increase year after year. The population has
increased 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.
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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.
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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
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INCOME
Collier County’s per capita income and median household income levels are higher than
state statistics. The most substantial difference between Collier County and the state is the
large percentage difference in household incomes above $100,000 where Collier County
exceeds the state by over 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
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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.
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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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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
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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:
➢ North Radio Road
➢ South Marco Island
➢ East Picayune Strand State Forest
➢ West 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 2% higher than the average cost of living in the United States.
Conversely, Florida has a cost of living that is lower than the US average. Of the 25 locations
included in the Economic Policy Institute's dataset for Florida, Naples-Marco Island is the
21st most expensive. In Naples, housing is the category with the highest index (21% above
national average), while taxes are the category with the lowest index (15% below national
average). (Ref. Careertrends.com; cost of living analysis). 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.
• Growth – A period during which the market area gains public favor and acceptance.
• Stability – A period of equilibrium without marked gains or losses
• Decline – A period of diminishing demand
• Revitalization – A period of renewal, redevelopment, modernization and increasing
demand.
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 The West ½ of the Northeast ¼ of the Northwest ¼ of the
Southwest ¼ of Section 30, Township 51 South, Range 27
East, Collier County, Florida.
Property ID# 00775600007
Owner of Record Conchita V. Aristizabal
Size 217,800 gross square feet or 5.00 gross acres
Easements None
Shape Rectangular
Dimensions 330’x660’
Access The subject is not physically accessible. The subject is
located approximately 1.25 miles west of the end of Curcie
Road. Curcie Road is a one and two-lane limerock road that
extends north from San Marco Road and then turns west
towards the subject property. The subject is also located
approximately 1.24-miles east of the Marco Island Executive
Airport.
Topography The property consists of mangrove swamp.
Ground Cover The property is covered in native and exotic vegetation.
The property is in its native state and has never been
cleared. I was provided with a Conservation Collier Initial
Criteria Screening Report McIlvane Marsh Parcels dated
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Carroll & Carroll 31
November 2, 2022 and updated December 19, 2022.
The parcel contains mangrove swamp. The mangrove
swamp consists of red mangrove, leather fern, and some
buttonwood. Approximately 25% of the ground cover is
exotic vegetation including old world climbing fern.
The majority of the property is wetlands and surface water
is present throughout the year.
Utilities None
Surrounding Land Uses The subject is surrounded by public conservation land to
the north, south, and west. It is directly adjacent to
Conservation Collier McIlvane Marsh parcels which
provides a continuous connection between Rookery Bay
National Estuarine Research Reserve (NERR), The Ten
Thousand Islands National Wildlife Refuge, Collier
Seminole State Park, and Picayune Strand State Forest.
Located to the east are privately owned parcels.
Demographics (2023) 2 mile 5 10
Population 866 12,165 69,869
Households 303 5,169 30,501
Median HH Income $94,354 $75,957 $75,172
Median Home Value $442,307 $389,580 $428,063
Site Improvements None
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ENVIRONMENTAL CONTAMINATION
Observed Contamination None
Noted Concerns None
Environmental Assessment
Available
No
Impact on Value None
Disclaimer Unless otherwise stated in this report, the existence
of hazardous substances or environmental
conditions including but not limited to asbestos,
polychlorinated biphenyls, petroleum leakage,
agricultural chemicals, urea formaldehyde
insulation, lead paint, toxic mold, et cetera, which
might or might not be present in or on the property
were not called to the attention of the appraiser.
Such tests were not in the appraiser's required
scope of work, the appraiser is not qualified to test
for such substances and conditions and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any such conditions that might exist,
or for the knowledge and expertise required to
discover them.
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NATURAL RESOURCE CONCERNS
Condition of subject The property is in its native state and has never
been cleared. I was provided with a Conservation
Collier Initial Criteria Screening Report McIlvane
Marsh Parcels dated November 2, 2022 and
updated December 19, 2022.
The parcel contains mangrove swamp which
consists of red mangrove, leather fern, and some
buttonwood. Approximately 25% of the ground
cover is exotic vegetation including old world
climbing fern.
The majority of the property is wetlands and
surface water is present throughout the year.
The property/habitat would support the presence of
many species including wading birds, American
crocodiles, Florida panthers, and Florida black
bears.
All plant and animal communities are of interest
and concern. To a greater or lesser degree
depending on the species and the quality of habitat
they occupy, plants and animals inhabiting the
property will invoke some level of scrutiny and will
result in some cost during the permitting process.
Natural Resource Audits Available Yes
Impact on Value N/A
Disclaimer
Specialized natural resource audits were not in the
appraiser’s required scope of work, the appraiser is
not qualified to conduct such audits and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any extraordinary natural resource
concerns, or for the knowledge and expertise
required to discover them.
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6578 Report Property Information
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FUTURE LAND USE
Ordinance or Plan Collier County Growth Management Plan
Future Land Use Designation Conservation
Purpose of Designation The overall purpose of the Conservation
Designation is to conserve and maintain the natural
resources of Collier County and their associated
environmental, and recreational and economic
benefits. All native habitats possess ecological and
physical characteristics that justify attempts to
maintain these important natural resources. Barrier
Islands, coastal bays, wetlands, and habitat for
listed species deserve particular attention because
of their ecological value and their sensitivity to
perturbation. It is because of this that all proposals
for development in the Conservation Designation
must be subject to rigorous review to ensure that
the impacts of the development do not destroy or
unacceptably degrade the inherent functional
values.
Additional Overlays/Special
Features
The subject property is located within the Coastal
High Hazard Area. If a project lies within the
Coastal High Hazard Area, one dwelling unit per
gross acre shall be subtracted from the eligible base
density of four dwelling units per acre. Therefore,
the maximum density in the Urban Coastal Fringe
is three units per gross acre.
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6578 Report Property Information
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ZONING
Ordinance or Land Development
Code
Collier County
Zoning A – Rural Agricultural District
Purpose or Intent of Zoning The purpose and intent of the Rural Agricultural
District is to provide land for agricultural, pastoral,
and rural land uses. In addition, several conditional
uses including churches, schools, child care centers,
social and fraternal organizations, and group care
facilities are available under conditional use
provisions. It is also a “holding” classification applied
to land the future development of which is uncertain.
The purpose and intent of the rural agricultural
district (A) is to provide lands for agricultural,
pastoral, and rural land uses by accommodating
traditional agricultural, agricultural related activities
and facilities, support facilities related to agricultural
needs, and conservation uses. Uses that are generally
considered compatible to agricultural uses that would
not endanger or damage the agricultural,
environmental, potable water, or wildlife resources of
the County. In addition, several conditional uses
including churches, schools, child care centers, social
and fraternal organizations, group care facilities, and
earth mining are available under conditional use
provisions. It is also a “holding” classification applied
to land the future development of which is uncertain.
The maximum shall not exceed the density permissible
under the density rating system.
Below are the development requirements as set forth
in the Agricultural Zoning District:
Minimum Lot Area: 217,800 square feet
or 5.00 acres
Minimum Lot Width: 165 feet
Minimum Front Yard Setback: 50 feet minimum
Minimum Side Yard Setback: 30 feet
Minimum Rear Yard Setback: 50 feet
Maximum Building Height: 35 feet
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Copies of pertinent sections of the Comprehensive Plan and Land Development Code are
included in the Addendum.
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ASSESSMENT AND TAXES
By statute, real estate in Florida is assessed at 100% of fair market value as of January 1st
of the tax year. Since annual tax assessments are based on sales from previous years,
depending upon market trends, assessed values can fall on either side of the current
market value estimate. The tax assessment is usually not a reliable indicator of market
value.
Parcel Tax ID 00775600007
Assessment and Tax Year 2023
Land Assessment $27,000
Improvement Assessment $0
Total Assessment $27,000
10% CAP ($6,868)
AG Exemption ($0)
Taxable Value $20,132
Ad Valorem Taxes $237.09
Non- Ad Valorem Taxes $0
Total Taxes $237.09
Taxing Authority/Jurisdiction Collier County
The land is assessed at $5,400 per gross acre of land area. The land assessment is within
the range of other similar parcels in the area. The assessment is higher than my estimate
of market value.
As of the appraisal effective date the 2023 taxes have not been paid.
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FLOOD ZONE DATA
Flood Zone AE
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. Required elevation
is 6 feet.
Community Panel Number 12021C0835H
Revised May 16, 2012
Source National Flood Insurance Program
Flood Insurance Rate Maps
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TRANSACTIONAL HISTORY
Sales History The property transferred from Connection
Investors Group, LLC to Conchita V.
Aristizabal on June 16, 2022 for a
consideration of $10.00 as recorded in Official
Records Book 6146, Page 1247 of the Public
Records of Collier County, Florida. The was
a transfer between related parties.
There have been no other transactions or
transfers of ownership in the previous three
years.
CURRENT STATUS
Subject Listed for Sale/Under Contract To my knowledge, the subject is not currently
listed for sale or under contract.
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HIGHEST AND BEST USE
DEFINITION
The Dictionary of Real Estate Appraisal, 7th Edition, published 2022 by the Appraisal
Institute, defines Highest and Best Use as:
The reasonably probable use of property that results in the highest value. The four criteria that the
highest and best use must meet are legal permissibility, physical possibility, financial feasibility,
and maximum productivity.
METHOD
There are four criteria that must be met in order for a use to be the highest and best use for a
given property. The highest and best use must be:
• Legally permissible.
• Physically Possible.
• Financially feasible.
• Maximally productive.
Ordinarily these criteria are considered sequentially, each step narrowing the range of
alternative uses being considered.
ANALYSIS
SITE AS THOUGH VACANT
Legally Permissible: Collier County designates this property as A – Rural Agricultural
District with a future land use of Conservation within the Coastal High Hazard Area.
The zoning ordinance and future land use are consistent in identifying the property for a
residential use or varying types of ancillary agricultural uses. A maximum of one
residential unit could be developed under the current future land use.
Physically Possible: The entire parcel is a mangrove swamp which would be costly to
mitigate. The remote location, surrounding land uses, and ground cover suggests some
type of conservation or limited residential use.
Financially Feasible: Development of a single-family residence is not financially feasible
due to their being no uplands on the property and there would be significant costs
associated with developing the subject property due to the amount and quality of wetlands.
Although it is not an economic use, acquisition of lands in the area by Collier County is
encouraged for habitat preservation and conservation.
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Maximally Productive: The maximally productive use is that the property be purchased
for preservation, conservation, and restoration.
CONSIDERATION OF APPROACHES
Only the sales comparison approach is appropriate for this vacant parcel.
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SALES COMPARISON APPROACH
INTRODUCTION
In the sales comparison approach, the subject property is compared with similar properties
that have sold recently or for which listing prices or offering prices are known. Data from
generally similar properties is used, and comparisons are made to demonstrate a probable
price at which the subject property would sell if offered on the market. This approach is
particularly strong when comparable sales data is plentiful and there is good conformity
among properties in the neighborhood.
Following is the procedure to be followed in developing this approach:
1. Research the market to gather information on sales, listings, and offers to purchase
properties similar to the subject.
2. Verify the information as to factual accuracy and arm's-length market considerations.
3. Identify relevant units of comparison and develop a comparative analysis for each
unit.
4. Compare the subject with comparable sale properties using elements of comparison
and adjust the sale price of each comparable appropriately.
5. Reconcile the various value indicators produced from the analysis of comparables into
a single value indication or a range of values.
The outline above is developed in detail on the following pages.
SALES DATA
A search was made for sales of land comparable to the subject site. The intention was to
find comparable sales in similar locations that offer similar functional utility. Six closed
sales were identified as the best available for analysis.
Price per acre of gross 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, sellers, and
brokers of land similar to the subject parcel. Due to the location and physical
characteristics, I elected to bracket the subject within the range indicated by comparables.
This is preferable to a conventional adjustment process where the magnitude of adjustments
is likely to be great, and there is little support for specific adjustments.
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Comparable land sales data is given on the following pages. Each comparable is identified
by a number which will be used for reference throughout the report. Each comparable is
identified on the location map immediately following this page.
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LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES
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VACANT LAND COMPARABLE 1
ADDRESS No Road Access, Naples, FL 34120
PROPERTY ID NO. 00229800007
SALE PRICE $22,500
UNIT AREA 10.00 acres
UNIT PRICE $2,250 per acre
DATE OF RECORDING August 02, 2023
O.R. BOOK-PAGE 6275/1834
CONTRACT DATE May 26, 2023
GRANTOR Jeffery E. Mills
GRANTEE Yen Ho
FINANCING Cash to seller
TOPO-ELEVATION Level and slightly below road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Rural Lands Stewardship Area
ZONING A-MHO-RLSAO - Agricultural
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records and SWFLA MLS. The property was listed for $40,000 and was on the market for 90 days. The pro perty
has legal access, but no physical access. The property is zoned A-MHO-RLSAO.
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VACANT LAND COMPARABLE 2
ADDRESS No Road Access, Naples, FL 34117
PROPERTY ID NO. 00852520000
SALE PRICE $10,000
UNIT AREA 2.50 acres
UNIT PRICE $4,000 per acre
DATE OF RECORDING June 21, 2023
O.R. BOOK-PAGE 6263/989
CONTRACT DATE June 5, 2023
GRANTOR Martin Mac Vandiviere
GRANTEE Phillip and Toni Ciambriello
FINANCING Cash to seller
TOPO-ELEVATION Level and slightly below road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Conservation
ZONING CON - Conservation
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records and SWFLA MLS. The property was listed for $10,000 and was on the market for 9 days. The property has
legal access, but no physical access. The property is zoned CON-ACSC/ST. The selling agent is the buyer.
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Carroll & Carroll 49
VACANT LAND COMPARABLE 3
ADDRESS No Road Access, Naples, FL 34117
PROPERTY ID NO. 00870800003
SALE PRICE $6,000
UNIT AREA 2.50 acres
UNIT PRICE $2,400 per acre
DATE OF RECORDING March 06, 2023
O.R. BOOK-PAGE 6226/1712
CONTRACT DATE January 16, 2023
GRANTOR Joy Morris
GRANTEE J Jesus Padilla and Frank E. Padilla
FINANCING Cash to seller
TOPO-ELEVATION Level and slightly below road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Conservation
ZONING CON - Conservation
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records and SWFLA MLS. The property was listed for $10,000 and was on the market for 103 days. The property
has legal access, but no physical access. The property is zoned CON-ACSC/ST.
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VACANT LAND COMPARABLE 4
ADDRESS No Road Access, Naples, FL 34117
PROPERTY ID NO. 00859400000
SALE PRICE $8,000
UNIT AREA 2.50 acres
UNIT PRICE $3,200 per acre
DATE OF RECORDING September 15, 2022
O.R. BOOK-PAGE 6175/2418
CONTRACT DATE September 2, 2022
GRANTOR Mike and Elaine Kreatsoulas
GRANTEE Dario Martinez and Yanisdey Maria Morales
FINANCING Cash to seller
TOPO-ELEVATION Level and slightly below road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Conservation
ZONING CON - Conservation
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records and SWFLA MLS. The property was listed for $10,000 and was on the market for 122 days. The property
has legal access, but no physical access. The property is zoned CON-ACSC/ST.
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VACANT LAND COMPARABLE 5
ADDRESS SR 29, Naples, FL 34117
PROPERTY ID NO. 00522921007
SALE PRICE $41,000
UNIT AREA 5.10 acres
UNIT PRICE $8,039 per acre
DATE OF RECORDING February 28, 2023
O.R. BOOK-PAGE 6222/506
CONTRACT DATE February 15, 2023
GRANTOR Daniel Hadfeg and Yanelis Gil
GRANTEE Carlo and Hazel Selorio
FINANCING Cash to seller
TOPO-ELEVATION Level and slightly below road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Conservation
ZONING A-ACSC/ST - Agricultural
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES Sold February 24, 2022 for $28,000.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records and SWFLA MLS. The property was listed for $44,999 and was on the market for 36 days.
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VACANT LAND COMPARABLE 6
ADDRESS SR 29, Naples, FL 34117
PROPERTY ID NO. 00982801000
SALE PRICE $45,000
UNIT AREA 10.18 acres
UNIT PRICE $4,420 per acre
DATE OF RECORDING January 20, 2022
O.R. BOOK-PAGE 6075/3060
CONTRACT DATE Unknown
GRANTOR Todd WJ Macklin and Joseph Manteiga
GRANTEE Yadiri C. Blanco
FINANCING Cash to seller
TOPO-ELEVATION Level and slightly below road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Conservation
ZONING A-ACSC/ST - Agricultural
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records.
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LAND SALES ADJUSTMENT GRID
ITEM SUBJECT COMP #1 COMP #2 COMP #3 COMP #4 COMP #5 COMP #6
Naples Naples Naples Naples Naples Ochopee Blanco
PROPERTY IDENTIFICATION W. of Curcie Rd.S. of Immokalee Rd.W of SR 29 W of SR 29 W of SR 29 SR 29 SR 29
(Ho)(Ciambriello)(Padilla)(Morales)(Selorio)(Blanco)
SALE PRICE N/A $22,500 $10,000 $6,000 $8,000 $41,000 $45,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0 0
CONDITIONS OF SALE Market Market Market Market Market Market Market
0 0 0 0 0 0
BUILDING IMPROVEMENTS None None None None None None None
0 0 0 0 0 0
FINANCING Cash or Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller
Equivalent 0 0 0 0 0 0
ADJUSTED SALE PRICE N/A $22,500 $10,000 $6,000 $8,000 $41,000 $45,000
Recording Date N/A 08/02/23 06/21/23 03/06/23 09/15/22 02/28/23 01/20/22
Months Prior To Effective Date 11/20/23 3.62 5.00 8.51 14.17 8.71 21.99
MARKET CHANGE ADJUSTMENT N/A 1.8%2.5%4.3%7.1%4.4%11.0%
ADJUSTED SALE PRICE N/A $22,907 $10,250 $6,255 $8,567 $42,786 $49,948
Parcel Area in Gross Acres 5.00 10.00 2.50 2.50 2.50 5.10 10.18
PRICE PER ACRE ?$2,291 $4,100 $2,502 $3,427 $8,389 $4,907
LOCATION
ADDRESS W. of Curcie Rd.S. of Immokalee Rd.W of SR 29 W of SR 29 W of SR 29 SR 29 SR 29
LEGAL ACCESS Yes Yes Yes Yes Yes Yes Yes
PHYSICAL ACCESS No No No No No Yes Yes
OVERALL LOCATION Poor Similar Similar Similar Similar Superior Superior
0%0%0%0%0%0%
UTILITIES Well & Septic Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
COMP. PLAN Conservation RLSA Conservation Conservation Conservation Conservation Conservation
ZONING A - Agricultural A-MHO-RSLAO CON CON CON A-ACSC/ST A-ACSC/ST
0%0%0%0%0%0%
SIZE IN ACRES 5.00 10.00 2.50 2.50 2.50 5.10 10.18
SHAPE/CONFIGURATION Rectangular Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
PHYSICAL CHARACTERISTICS Native Veg.Similar Similar Similar Similar Inferior Inferior
WETLANDS Yes Yes Yes Yes Yes Yes Yes
0%0%0%0%0%0%
GROSS ADJUSTMENT N/A 0%0%0%0%0%0%
INDICATION OF UNIT VALUE ?$2,291 $4,100 $2,502 $3,427 $8,389 $4,907
OVERALL COMPARISON SIMILAR SIMILAR SIMILAR SIMILAR SUPERIOR SUPERIOR
6578 Report Sales Comparison Approach
Carroll & Carroll 54
DISCUSSION OF ADJUSTMENTS
Usually, comparable sale properties are not exactly like the subject property. If a typical
buyer would perceive the difference to be significant, then adjustment(s) must be made to
the comparable sales so that in the end each offers a realistic indication of value for the
subject. Adjusting comparable sales is a two-step process.
First, adjustments are made so that all of the comparable sales meet the standard of a
“market” transaction as outlined in the definition of market value. Customarily, the first
group of adjustments is made before the comparables are reduced to a common unit of
comparison. Included at this stage are adjustments to bring historic sales current to the
appraisal effective date.
The second group of adjustments is made after an appropriate unit of comparison is chosen.
These adjustments account for physical differences like location, physical characteristics and
size. Sometimes adjustment is required for differences in the permitted land use (zoning) or
in the availability of public service (infrastructure). When the adjustment process is
complete, the unit value indications are reconciled and converted into an estimate of value
for the subject.
REAL PROPERTY RIGHTS CONVEYED
This adjustment category is intended to account for the interest, benefits, and rights
inherent in the ownership of real estate. This category reflects the impact on value caused
by the fee simple versus the leased fee interest or the contract rent as opposed to market
rent.
• None of the comparable sales required adjustment in this category.
CONDITIONS OF SALE
This adjustment category is intended to account for a variety of factors that might affect
the purchase price.
• 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.
• None of the comparable sales required adjustment in this category.
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FINANCING
Adjustments in this category are intended to account for unusual terms of financing that
are not considered equivalent to cash or conventional financing.
• None of the comparable sales required adjustment in this category.
MARKET CHANGE
This adjustment is intended to account for changes in value due to the ebb and flow of
market forces over time.
The land market was appreciating and saw the greatest increases from 2021 to 2022. The
buyers of the comparable sales include a mix of owner-users, government agencies, and
land speculators. The land market has begun to stabilize due to increasing interest rates,
the costs associated with mitigation, and the economic instability. The subject property
consists of mostly wetlands and its remote location reduces the number of buyers for this
type of real estate, however entry level land is in demand.
Comparable 5 sold February 24, 2022 for $28,000 and resold February 28, 2023 for $41,000
indicating a market change rate of 3.87% per month, which appears to be a higher
indicator.
The sales utilized in the report range from 3 months to less than 22 months old. Based on
the trend of per acre sales prices and the age of the sales a market change adjustment of
0.50% per month or 6.00% annually was applied.
LOCATION/ACCESS/EXPOSURE
This category of adjustment reflects the impact on value caused by the advantages or
disadvantages of a given location.
• There has been a lack of recent and historical land sales in this area and therefore it was
very difficult to extract specific locational adjustments. For this reason, the
comparables were bracketed with some being superior, similar, and inferior.
UTILITIES/INFRASTRUCTURE
This category of adjustment references the availability and adequacy of the road system,
the public was distribution system and the public wastewater collection system of each
comparable property as that compares with the same services available to the subject
property.
• None of the comparable sales required adjustment in this category.
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COMPREHENSIVE PLAN/LAND USE
This category of adjustment accounts for differences in the potential land uses
(Comprehensive Plan) or in the specific uses (Zoning) to which a property could be
developed. Differences in value between the subject property and comparable sales might
exist because their highest and best uses are different as a result of government regulation
through zoning and land use controls.
• None of the comparables 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.
• The comparables range in size from 2.50 to 10.18 gross acres. Due to the consistent
sizes the comparables sales did not require an adjustment.
PHYSICAL CHARACTERISTICS
This category of adjustment reflects the physical aspects of a property that impact its use
for development. Physical characteristics included land elevation, soil conditions,
drainage characteristics, threatened or endangered plant and animal species on the
property and the extent and density of covering vegetation.
• I was provided with a Conservation Collier Initial Criteria Screening Report McIlvane
Marsh Parcels dated November 2, 2022 and updated December 19, 2022. The parcel
contains mangrove swamp. The mangrove swamp consists of red mangrove, leather
fern, and some buttonwood. Approximately 25% of the ground cover is exotic
vegetation. The majority of the property is wetlands and surface water is present
throughout the year. The higher the quality of the wetlands, the higher the mitigation
costs.
• I analyzed aerials, reviewed the listing history, and interviewed brokers, buyers and
sellers to determine the wetlands associated with the Comparable sales.
The majority of Comparables 1, 2, 3, 4, 5, and 6 are all covered in various types of
wetlands, similar to the subject.
No adjustments were made for physical characteristics.
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RECAPITULATION OF DATA
After making the adjustments discussed above, the comparable sales indicated the
following unit values:
Comparables Price Per Gross Acre
of Land Area
1 $2,291
2 $4,100
3 $2,502
4 $3,427
5 $8,389
6 $4,907
RECONCILIATION OF DATA
To arrive at a conclusion regarding the value of the subject site, the comparable sales and
their indications of value were bracketed.
Comparables 1, 2, 3, and 4 are all recent sales of interior parcels with no physical access and
all are covered in native vegetation and wetlands, similar to the subject. The unit values
range from $2,291 to $4,100 per acre with an average of $3,080 per acre. Comparable 4 is the
strongest indicator of value given its smaller size and it is the most recent sale which
increases its strength as an indicator of value.
Comparable 5 is a recent sale of land just off of SR 29, south of Interstate 75. Comparable 5
has similar physical characteristics, but the overall location and access are superior. The
subject should be less than $8,389 per acre.
Comparable 6 is a sale of land fronting SR 29. This is a superior location with similar
physical characteristics. Overall, Comparable 6 is superior and the subject should be less
than $4,907 per acre.
The range of unit value indications is from $2,291 to $8,389 per acre with an average of
$4,269 per acre for the comparable sales. The bracketing indicates a range from $2,291 to
$4,907 per acre. The subject should be less than Comparable 6 or $4,907 per acre and is most
similar to Comparable 2 or $4,100 per acre.
Based on the range of sales and giving strong consideration to Comparable 2, I concluded to
a unit value of $4,000 per acre.
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ESTIMATE OF VALUE
$4,000 per gross acre results in an indication of value for the subject as of November 20,
2023, of $20,000 (5.00 acres x $4,000 per acre).
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
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Carroll & Carroll
ADDENDA
(In Order of Appearance)
Page Topic Count Page(s) Page(s)
Assumptions and Limiting Conditions............................................................................ 2
Future Land Use................................................................................................................... 2
Zoning.................................................................................................................................... 6
Qualifications of Appraiser................................................................................................. 2
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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 CONDITIONS
None
GENERAL ASSUMPTIONS AND LIMITING CONDITIONS
1. No responsibility is assumed for the legal description or for matters including legal or title
considerations. Title to the property is assumed to be good and marketable.
2. The property is appraised free and clear of liens and encumbrances.
3. Responsible ownership and competent property management are assumed.
4. The information furnished by others is assumed to be true, correct and reliable. A
reasonable effort was made to verify such information, but the appraiser bears no
responsibility for its accuracy.
5. All engineering is assumed to be correct. The plot plans and illustrative material is
included only to assist the reader in visualizing the property.
6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or
structures that render it more or less valuable. No responsibility is assumed for such
conditions or for arranging for engineering studies that might be required to discover
them.
7. It is assumed that there is full compliance with all applicable federal, state, and local
environmental regulations and laws.
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8. It is assumed that the property is either in compliance with, or is "grandfathered" or
"vested" under, all applicable zoning, use regulations and restrictions.
9. It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any local, state, or national government or
private entity or organization have been, or can be, obtained or renewed for any use on
which the value estimate is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries or
property lines of the property described, and that there is no encroachment or trespass.
11. It is assumed that the subject site and improvements are not contaminated by any
hazardous material or toxic substance. During the property inspection we were sensitive
to obvious signs of contamination and we reported anything unusual. However, we are
not qualified to render professional opinions regarding the existence or the nature of
hazardous materials in or on the subject property. If a definitive opinion is desired, then
the client is urged to retain an expert in the field.
12. The distribution of the total value in this report, between land and improvements, applies
only under the stated program of utilization. The separate allocations for land and
buildings must not be used in conjunction with any other appraisal and are invalid if so
used.
13. Possession of this report, or a copy thereof, does not carry with it the right of publication.
14. Unless previous arrangements were made, the appraisers, by reason of this appraisal, are
not required to give further consultation, testimony, or to be in attendance in court.
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A. Rural Agricultural District (A). The purpose and intent of the rural agricultural district (A) is to provide lands
for agricultural, pastoral, and rural land uses by accommodating traditional agricultural, agricultural related
activities and facilities, support facilities related to agricultural needs, and conservation uses. Uses that are
generally considered compatible to agricultural uses that would not endanger or damage the agricultural,
environmental, potable water, or wildlife resources of the County, are permissible as conditional uses in the A
district. The A district corresponds to and implements the Agricultural/Rural land use designation on the future
land use map of the Collier County GMP, and in some instances, may occur in the designated urban area. The
maximum density permissible in the rural agricultural district within the urban mixed use district shall be guided,
in part, by the density rating system contained in the future land use element of the GMP. The maximum density
permissible or permitted in A district shall not exceed the density permissible under the density rating system.
The maximum density permissible in the A district within the agricultural/rural district of the future land use
element of the Collier County GMP shall be consistent with and not exceed the density permissible or permitted
under the agricultural/rural district of the future land use element.
1. The following subsections identify the uses that are permissible by right and the uses that are allowable
as accessory or conditional uses in the rural agricultural district (A).
a. Permitted uses.
1. Single-family dwelling.
2. Agricultural activities, including, but not limited to: Crop raising; horticulture; fruit and nut
production; forestry; groves; nurseries; ranching; beekeeping; poultry and egg production; milk
production; livestock raising, and aquaculture for native species subject to Florida Fish and
Wildlife Conservation Commission permits.
i. The following permitted uses shall only be allowed on parcels 20 acres in size or greater:
a) dairying;
b) ranching;
c) poultry and egg production;
d) milk production;
e) livestock raising; and
f) animal breeding, raising, training, stabling or kenneling.
ii. On parcels less than 20 acres in size, individual property owners are not precluded from
the keeping of the following for personal use and not in association with a commercial
agricultural activity provided there are no open feed lots:
a) Fowl or poultry, not to exceed 25 in total number; and
b) Horses and livestock (except for hogs) not to exceed two such animals for each
acre.
i. Notwithstanding the above, hog(s) may be kept for a 16 week period in
preparation for showing and sale at the annual Collier County Fair and/or the
Immokalee Livestock show. The following standards shall apply:
a) One hog per child enrolled in a 4-H Youth Development Program, Collier
County Fair Program or similar program is permitted. In no case shall
there be more than 2 hogs per acre.
b) Premises shall be fenced and maintained in a clean, healthful, and
sanitary condition.
c) Premises or roofed structure used for the sheltering, feeding, or
confinement of such animals shall be setback a minimum of 30 feet from
lot lines and a minimum of 100 feet from any dwelling unit on an
adjacent parcel of land.
d) Hog(s) shall not be returned to the property once removed for showing
and/or sale.
3. Wholesale reptile breeding and raising (non-venomous), subject to the following standards:
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i. Minimum 20 acre parcel size;
ii. Any roofed structure used for the shelter and/or feeding of such reptiles shall be located a
minimum of 100 feet from any lot line.
4. Wildlife management, plant and wildlife conservancies, wildlife refuges and sanctuaries.
5. Conservation uses.
6. Oil and gas exploration subject to state drilling permits and Collier County site development
plan review procedures.
7. Family care facilities, subject to section 5.05.04
8. Communications towers up to specified height, subject to section 5.05.09
9. Essential services, as set forth in section 2.01.03
10. Schools, public, including "Educational plants."
b. Accessory uses.
1. Uses and structures that are accessory and incidental to the uses permitted as of right in the
A district.
2. Farm labor housing, subject to section 5.05.03
3. Retail sale of fresh, unprocessed agricultural products, grown primarily on the property and
subject to a review of traffic circulation, parking, and safety concerns pursuant to the
submission of a site improvement plan as provided for in section 10.02.03
4. Packinghouse or similar agricultural processing of farm products produced on the property
subject to the following restrictions:
i. Agricultural packing, processing or similar facilities shall be located on a major or minor
arterial street, or shall have access to an arterial street by a public street that does not
abut properties zoned RSF-1 thru RSF-6, RMF-6, RMF-12, RMF-16, RT, VR, MH,
TTRVC and PUD or are residentially used.
ii. A buffer yard of not less than 150 feet in width shall be provided along each boundary of
the site which abuts any residentially zoned or used property, and shall contain an
Alternative B type buffer as defined within section 4.06.00. Such buffer and buffer yard
shall be in lieu of front, side, or rear yards on that portion of the lot which abuts those
districts and uses identified in subsection 2.03.01 A.1.b. 4 i. above.
iii. The facility shall emit no noxious, toxic, or corrosive dust, dirt, fumes, vapors, or gases
which can cause damage to human health, to animals or vegetation, or to other forms of
property beyond the lot line of the use creating the emission.
iv. A site development plan shall be provided in accordance with section 10.02.03
5. Excavation and related processing and production subject to the following criteria:
i. The activity is clearly incidental to the agricultural development of the property.
ii. The affected area is within a surface water management system for agricultural use as
permitted by the South Florida Water Management District (SFWMD).
iii. The amount of excavated material removed from the site cannot exceed 4,000 cubic
yards. Amounts in excess of 4,000 cubic yards shall require conditional use approval for
earthmining, pursuant to the procedures and conditions set forth in LDC section 10.08.00
and the Administrative Code.
6. Guesthouses, subject to section 5.03.03
7. Private boathouses and docks on lake, canal or waterway lots, subject to section 5.03.06
8. Use of a mobile home as a temporary residence while a permanent single-family dwelling
is being constructed, subject to the following:
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i. Receipt of a temporary use permit from the Development Services Director, pursuant to
section 5.04.04, that allows for use of a mobile home while a permanent single-family
dwelling is being built;
ii. Assurance that the temporary use permit for the mobile home will expire at the same
time of the building permit for the single-family dwelling, or upon the completion of the
single-family dwelling, whichever comes first;
iii. Proof that prior to the issuance of a final certificate of occupancy for the single-family
dwelling, the mobile home is removed from the premises; and
iv. The mobile home must be removed at the termination of the permitted period.
9. Use of a mobile home as a residence in conjunction with bona fide agricultural activities
subject to the following:
i. The applicant shall submit a completed application to the site development review
director, or his designee, for approval of a temporary use permit to utilize a mobile home
as a residence in conjunction with a bona fide commercial agricultural activity as
described in subsection 2.03.01 A.1.2. Included with this application shall be a
conceptual plot plan of the subject property depicting the location of the proposed mobile
home; the distance of the proposed mobile home to all property lines and existing or
proposed structures; and, the location, acreage breakdown, type and any intended
phasing plan for the bona fide agricultural activity.
ii. The receipt of any and all local, state, and federal permits required for the agricultural use
and/or to place the mobile home on the subject site including, but not limited to, an
agricultural clearing permit, building permit(s), ST permits, and the like.
iii. The use of the mobile home shall be permitted on a temporary basis only, not to exceed
the duration of the bona fide commercial agricultural activity for which the mobile home
is an accessory use. The initial temporary use permit may be issued for a maximum of
three years, and may, upon submission of a written request accompanied by the
applicable fee, be renewed annually thereafter provided that there is continuing operation
of the bona fide commercial agricultural activities.
iv. The applicant utilizing, for the bona fide commercial agricultural activity, a tract of land a
minimum of five acres in size. Any property lying within public road rights-of-way shall
not be included in the minimum acreage calculations.
v. A mobile home, for which a temporary use permit in conjunction with a bona fide
commercial agricultural activity is requested, shall not be located closer than 100 feet
from any county highway right-of-way line, 200 feet from any state highway right-of-
way, or 500 feet from any federal highway right-of-way line.
10. Recreational facilities that serve as an integral part of a residential development and have
been designated, reviewed and approved on a site development plan or subdivision master
plan for that development. Recreational facilities may include but are not limited to golf
course, clubhouse, community center building and tennis facilities, parks, playgrounds and
playfields.
c. Conditional uses. The following uses are permitted as conditional uses in the rural agricultural
district (A), subject to the standards and procedures established in LDC section 10.08.00 and the
Administrative Code.
1. Extraction or earthmining, and related processing and production not incidental to the
agricultural development of the property. NOTE: "Extraction related processing and
production" is not related to "Oil extraction and related processing" as defined in this Code.
2. Sawmills.
3. Zoo, aquarium, aviary, botanical garden, or other similar uses.
4. Hunting cabins.
5. Aquaculture for nonnative or exotic species, subject to Florida Fish and Wildlife Conservation
Commission permits.
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6. Wholesale reptile breeding or raising (venomous) subject to the following standards;
i. Minimum 20 acre parcel size.
ii. Any roofed structure used for the shelter and/or feeding of such reptiles shall be located
at a minimum of 100 feet away from any lot line.
7. Churches.
8. Private landing strips for general aviation, subject to any relevant state and federal
regulations.
9. Cemeteries.
10. Schools, private.
11. Child care centers and adult day care centers.
12. Collection and transfer sites for resource recovery.
13. Communication towers above specified height, subject to section 5.05.09
14. Social and fraternal organizations.
15. Veterinary clinic.
16. Group care facilities (category I and II); care units; nursing homes; assisted living
facilities pursuant to § 400.402 F.S. and ch. 58A-5 F.A.C.; and continuing care retirement
communities pursuant to § 651 F.S. and ch. 4-193 F.A.C., all subject to section 5.05.04 when
located within the Urban Designated Area on the Future Land Use Map to the Collier County
Growth Management Plan.
17. Golf courses and/or golf driving ranges.
18. Oil and gas field development and production subject to state field development permits.
19. Sports instructional schools and camps.
20. Sporting and recreational camps.
21. Retail plant nurseries subject to the following conditions:
i. Retail sales shall be limited primarily to the sale of plants, decorative products such as
mulch or stone, fertilizers, pesticides, and other products and tools accessory to or
required for the planting or maintenance of said plants.
ii. Additionally, the sale of fresh produce is permissible at retail plant nurseries as an
incidental use of the property as a retail plant nursery.
iii. The sale of large power equipment such as lawn mowers, tractors, and the like shall not
be permitted in association with a retail plant nursery in the rural agricultural district.
22. Asphaltic and concrete batch making plants subject to the following conditions:
i. Asphaltic or concrete batch making plants may be permitted within the area designated
agricultural on the future land use map of the future land use element of the growth
management plan.
ii. The minimum site area shall not be less than ten acres.
iii. Principal access shall be from a street designated collector or higher classification.
iv. Raw materials storage, plant location and general operations around the plant shall not
be located or conducted within 100 feet of any exterior boundary.
v. The height of raw material storage facilities shall not exceed a height of fifty (50) feet.
vi. Hours of operation shall be limited to two (2) hours before sunrise to sunset.
vii. The minimum setback from the principal road frontage shall be 150 feet for operational
facilities and seventy-five (75) feet for supporting administrative offices and associated
parking.
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viii. An earthen berm achieving a vertical height of eight feet or equivalent vegetative screen
with eighty (80) percent opacity one (1) year after issuance of certificate of occupancy
shall be constructed or created around the entire perimeter of the property.
ix. The plant should not be located within the Greenline Area of Concern for the Florida
State Park System as established by the Department of Environmental Protection (DEP):
within the Area of Critical State Concern as depicted on the Future Land Use Map GMP;
within 1,000 feet of a natural reservation; or within any County, State or federal
jurisdictional wetland area.
23. Cultural, ecological, or recreational facilities that provide opportunities for educational
experience, eco-tourism or agri-tourism and their related modes of transporting participants,
viewers or patrons where applicable, subject to all applicable federal, state and local permits.
Tour operations, such as, but not limited to airboats, swamp buggies, horses and similar
modes of transportation, shall be subject to the following criteria:
i. Permits or letters of exemption from the U.S. Army Corps of Engineers, the Florida
Department of Environmental Protection, and the South Florida Water Management
District shall be presented to the planning services director prior to site development
plan approval.
ii. The petitioner shall post the property along the entire property line with no trespassing
signs approximately every 300 yards.
iii. The petitioner shall utilize only trails identified and approved on the site development
plan. Any existing trails shall be utilized before the establishment of new trails.
iv. Motor vehicles shall be equipped with engines which include spark arrestors and mufflers
designed to reduce noise.
v. The maximum size of any vehicle, the number of vehicles, and the passenger capacity of
any vehicle shall be determined by the board of zoning appeals during the conditional
use process.
vi. Motor vehicles shall be permitted to operate during daylight hours which means, one hour
after sunrise to one hour before sunset.
vii. Molestation of wildlife, including feeding, shall be prohibited.
viii. Vehicles shall comply with state and United States Coast Guard regulations, if applicable.
ix. The board of zoning appeals shall review such a conditional use for tour operations,
annually. If during the review, at an advertised public hearing, it is determined by the
board of zoning appeals that the tour operation is detrimental to the environment, and no
adequate corrective action has been taken by the petitioner, the board of zoning appeals
may rescind the conditional use.
24. Agricultural activities on parcels less than 20 acres in size:
i. animal breeding, raising, training, stabling, or kenneling.
ii. dairying;
iii. livestock raising;
iv. milk production;
v. poultry and egg production; and
vi. ranching.
25. The commercial production, raising or breeding of exotic animals, other than animals typically
used for agricultural purposes or production, subject to the following standards:
i. Minimum 20 acre parcel size.
ii. Any roofed structure used for the shelter and/or feeding of such animals shall be located
a minimum of 100 feet from any lot line.
26. Essential services, as set forth in subsection 2.01.03 G.
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27. Model homes and model sales centers, subject to compliance with all other LDC
requirements, to include but not limited to section 5.04.04
28. Ancillary plants.
d. Prohibited uses.
1. Owning, maintaining or operating any facility or part thereof for the following purposes is
prohibited:
a) Fighting or baiting any animal by the owner of such facility or any other person or entity.
b) Raising any animal or animals intended to be ultimately used or used for fighting or
baiting purposes.
c) For purposes of this subsection, the term baiting is defined as set forth in §
828.122(2)(a), F.S., as it may be amended from time to time.
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APPRAISAL REPORT
FOR
THE CONSERVATION COLLIER
PROGRAM AND THE COLLIER
COUNTY BOARD OF COUNTY
COMMISSIONERS
SUBJECT PROPERTY:
DR. ROBERT H. GORE III PRESERVE
NAPLES, FL 34117
AT THE REQUEST OF:
ROOSEVELT LEONARD, R/W-AC
SUPERVISOR – REAL PROPERTY
MANAGEMENT
COLLIER COUNTY FACILITIES
MANAGEMENT/REAL PROPERTY
3335 TAMIAMI TRAIL E., STE. 101
NAPLES, FL 34112
ASSIGNMENT NO.:
6617-TS
APPRAISAL EFFECTIVE DATE:
FEBRUARY 1, 2024
DATE OF REPORT:
FEBRUARY 29, 2024
6617 Report Table of Contents
Carroll & Carroll
Table of Contents
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS ......................................................... 1
CERTIFICATION ..................................................................................................................................... 3
SCOPE OF WORK ................................................................................................................................... 5
ESTATE APPRAISED .............................................................................................................................. 6
DEFINITION OF MARKET VALUE ..................................................................................................... 7
ASSUMED EXPOSURE TIME ................................................................................................................ 7
AREA INFORMATION .......................................................................................................................... 8
MARKET AREA ..................................................................................................................................... 17
PROPERTY INFORMATION ............................................................................................................... 29
SITE DESCRIPTION – DR. ROBERT H. GORE III PRESERVE ................................................... 31
ENVIRONMENTAL CONTAMINATION .................................................................................... 33
NATURAL RESOURCE CONCERNS ............................................................................................ 34
FUTURE LAND USE ......................................................................................................................... 36
ZONING .............................................................................................................................................. 38
HIGHEST AND BEST USE ................................................................................................................... 40
CONSIDERATION OF APPROACHES ............................................................................................. 41
SALES COMPARISON APPROACH ................................................................................................. 42
DR. ROBERT H. GORE III PRESERVE (1.14-2.73 ACRES) .............................................................. 43
LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES ............................. 44
LAND SALES ADJUSTMENT GRID – 0-75% WETLANDS ....................................................... 45
LAND SALES ADJUSTMENT GRID – 76-100% WETLANDS ................................................... 46
FINAL ESTIMATE OF VALUE – DR. ROBERT H. GORE III PRESERVE ................................ 53
(1.14-2.73 ACRES) .............................................................................................................................. 53
DR. ROBERT H. GORE III PRESERVE (2.74-7.17 ACRES) .............................................................. 54
LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES ............................. 55
LAND SALES ADJUSTMENT GRID – 0-75% WETLANDS ....................................................... 56
LAND SALES ADJUSTMENT GRID – 76-100% WETLANDS ................................................... 57
FINAL ESTIMATE OF VALUE – DR. ROBERT H. GORE III PRESERVE ................................ 64
(2.74-7.17 ACRES) .............................................................................................................................. 64
ADDENDA ............................................................................................................................................. 65
6617 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
Dr. Robert H. Gore III Preserve Market Area
Naples, FL 34117
Property Description
Dr. Robert H. Gore III Preserve consists of 268 parcels or a
total of 600.50 acres located within Golden Gate Estates,
Units 91 and 92 in Naples, Florida.
Property Type Vacant Land
Owner of Record Full List Copied into the Addendum
Property ID # Full List Copied into the Addendum
CLIENT INFO & VALUE CONCLUSIONS
Client Collier County Facilities Management Department
Intended Use
To assist the Conservation Collier Program and the Collier
County Board of County Commissioners.
Intended Users
Conservation Collier Program and the Collier County
Board of County Commissioners.
Appraisal Effective Date February 1, 2024
Date of Report February 29, 2024
Date of Inspection N/A
Purpose of Appraisal
Estimate the market value on a price per acre basis within
the Dr. Robert H. Gore Preserve for the various tiers for
parcels ranging in size from 1.14 acres-2.73 acres, 2.74 acres-
4.00 acres, and 4.01 acres-7.17 acres.
Tiers
I. Up to 25% Wetlands
II. 26-50% Wetlands
III. 51-75% Wetlands
IV. 76-100% Wetlands
Estate Appraised Fee Simple
Interest Appraised 100%
Estimated Market Values
1.14-2.73 Acres
I Up to 25% Wetlands $50,000 per acre
II 26-50% Wetlands $34,000 per acre
III 51-75% Wetlands $27,000 per acre
IV 76-100% Wetlands $21,000 per acre
6617 Report Summary of Important Data & Conclusions
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2.74-4.00 Acres
I Up to 25% Wetlands $39,000 per acre
II 26-50% Wetlands $30,000 per acre
III 51-75% Wetlands $25,500 per acre
IV 76-100% Wetlands $20,000 per acre
4.01-7.17 Acres
I Up to 25% Wetlands $39,000 per acre
II 26-50% Wetlands $30,000 per acre
III 51-75% Wetlands $25,500 per acre
IV 76-100% Wetlands $20,000 per acre
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 CONDITIONS
None
6617 Report Certification
Carroll & Carroll 3
CERTIFICATION
I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF:
I did not physically inspect the Dr. Robert H. Gore III Preserve parcels or comparable
sales, but I relied on aerial photography for my analysis.
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.
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Carroll & Carroll 4
No one other than the undersigned prepared the analyses, opinions and conclusions
concerning real estate that are set forth in this report.
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
6617 Report Scope of Work
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SCOPE OF WORK
All applicable approaches to value were developed and the value conclusion reflects all
known information about the subject property, market conditions, and available data.
The scope of work was:
• I did not physically inspect the Dr. Robert H. Gore III Preserve parcels or the
comparable sales, but I relied on aerial photography.
• Reviewed aerial photographs, land use plans, the Land Development Code, the
Conservation Collier Initial Criteria Screening Report, and other documentation.
• Reviewed how the properties relate to their neighborhood and to the broader market
area in development of an opinion of highest and best use.
• Researched vacant land comparable sales, listings, and pending sales.
• Developed the sales comparison approach.
• Estimated the market value on a price per acres basis within Dr. Rober H. Gore III
Preserve for the various tiers for parcels ranging in size from 1.14 acres-2.73 acres, 2.74
acres-4.00 acres, and 4.01 acres-7.17 acres.
Tiers
I. Up to 25% Wetlands
II. 26-50% Wetlands
III. 51-75% Wetlands
IV. 76-100% Wetlands
• Prepared an appraisal report summarizing the appraisal assignment, the property
appraised, the application of the appraisal methodology, and the logical support for the
value conclusions.
Sources of market data included local and regional MLS systems, CoStar, LoopNet, public
records, and interviews with real estate brokers.
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ESTATE APPRAISED
The estate appraised is the Fee Simple Absolute. For appraisal purposes Fee Simple
Absolute is synonymous with Fee Simple.
The Dictionary of Real Estate Appraisal, Seventh Edition, published 2022 by the Appraisal
Institute, defines Fee Simple Estate as:
Absolute ownership unencumbered by any other interest or estate, subject only to the limitations
imposed by the governmental powers of taxation, eminent domain, police power, and escheat.
We consider easements, but only to the extent that they are known to us. Appraisal of the
fee simple means that an improved property is vacant and available to be put to its highest
and best use.
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DEFINITION OF MARKET VALUE
In United States tax law, the definition of Fair Market Value is found in the United States
Supreme Court decision in the Cartwright case:
The fair market value is the price at which the property would change hands between a
willing buyer and a willing seller, neither being under any compulsion to buy or to sell
and both having reasonable knowledge of relevant facts.
United States v. Cartwright, 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S.
Tax Case. (CCH) ¶ 12,926 (1973) (quoting from U.S. Treasury regulations relating to Federal
estate taxes, at 26 C.F.R. sec. 20.2031-1(b)).
ASSUMED EXPOSURE TIME
The reasonable exposure time is assumed to have already occurred as of the appraisal
effective date. The assumed reasonable exposure time was between 6 and 9 months.
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AREA INFORMATION
COLLIER COUNTY ANALYSIS
An analysis of geography, transportation, population, employment, income, and education
for Collier County is performed using data provided by Site to Do Business, Florida Office
of Economic & Demographic, United States Department of Labor, all recognized source(s).
GEOGRAPHY
Collier County is the most southerly county on Florida's west coast offering mainland
coastal development. Collier County is west of Ft. Lauderdale and south of Tampa. With
2,025 square miles of land area, it is the largest county in Florida. About 63% of the land
area is in public ownership, is set aside for environmental preservation, or is scheduled for
public land acquisition.
The region enjoys a climate that is classified as subtropical. Summers are relatively mild,
and winters are usually frost free. A hard freeze is a rarity. The climate, especially in winter,
is one that attracts and is enjoyable to most people.
The geography of the area runs generally northwest and southeast as indicated by the trend
of the coastline. Beaches extend from the northern county line south to Cape Romano and
then, as the coastline trends further to the southeast, beaches give over to mangrove islands
and swamps. Moving northeastward from the beaches, elevations increase very slowly.
Most of the county is less than 15 feet above mean sea level. Although changes in elevation
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are gradual, they are well defined by variations in vegetation. Much of the county is, or was
once, wetland. The once plentiful marine resources are largely depleted, but still provide
good sport fishing.
Population centers include the coastal communities of Naples, Marco Island and
Everglades/Chokoloskee. Immokalee, the single large interior community, is in north
Collier County and is the agricultural center of the region.
POPULATION
“The social forces studied by appraisers primarily relate to population characteristics. The
demographic composition of the population reveals the potential demand for real estate,
which makes the proper analysis and interpretation of demographic trends important in an
appraiser’s analysis.” The total population, it's composition by age and gender, and the rate
of household formation and dissolution strongly influence real property values. (The
Appraisal of Real Estate 14th Edition)
Collier County’s population has continued to increase year after year. The population has
increased 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.
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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.
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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
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INCOME
Collier County’s per capita income and median household income levels are higher than
state statistics. The most substantial difference between Collier County and the state is the
large percentage difference in household incomes above $100,000 where Collier County
exceeds the state by over 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
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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.
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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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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
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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 market area is defined in terms of the market for a specific category of real estate
and thus is the area in which alternative, similar properties effectively compete with the
subject property in the minds of probable, potential purchasers and users.” (The
Appraisal of Real Estate 15th Edition)
A market area includes those surrounding land uses which impact the value of a property
and it can encompass one or more neighborhoods or districts. An appraiser focuses on the
market area in analyzing subject property value influences.
BOUNDARIES
The subject property is located within the Golden Gate area of Collier County. For
appraisal purposes, the Golden Gate or market area boundaries are shown below:
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Introduction
The portion of Golden Gate within this market area is approximately 157 square miles in
size. Three separate land uses are worth noting. Golden Gate City, which is not
incorporated, is a 4-square mile development of high residential density consisting of both
single-family and multifamily units. Commercial services for this market area are
centralized here. The rural estates consist of approximately 116 square miles and is zoned
for estate living. This low-density development serves a rural lifestyle desired by many in
the area. A third area, Orange Blossom PUD located on Immokalee Road, is a 4-square mile
residential subdivision with commercial support near the Immokalee Road and Randall
Boulevard intersection. It is approximately 80% developed with primarily single-family
units. Collier County Fairgrounds, a high school, middle school, and elementary school are
located here.
Demographics for Golden Gate City and rural estates will be discussed separately, where
appropriate, Data for Orange Blossom PUD will be included in the rural estate’s
demographics.
Environmental Influences
This area is desired because of mild winter weather and rural lifestyle. Even though it is
inland from the coast there is still easy access to miles of beaches. The Naples area is one of
the very few in Florida that offers adequate public access to a mainland beach. The
subtropical weather allows for year-round recreational opportunities. Boating, swimming,
riding ATVs, and camping are popular activities. Bicycling, walking and jogging are
supported by an extensive network of connected biking and walking paths. Multiple tennis
and pickle ball courts are available, as well as fitness centers.
Golden Gate is known for its clean environment and healthy lifestyle. Residents are drawn
to the rural estates because of wooded lots, native vegetation and abundance of wildlife.
Agriculture uses are permitted; therefore, equestrian activities are common throughout the
estates. Golden Gate City is an urban area served by county parks and a biking/walking
path network.
Governmental Influences
This market area, including Golden Gate City, is governed by Collier County Board of
County Commissioners which serves as chief legislative body and five constitutional
officers: sheriff, clerk of courts, tax collector, supervisor of elections, and property appraiser.
County government is managed by a strong county manager structure. Collier County
provides services which range from average to high quality. However, Collier County is
known for being a difficult county for building and development. The tax burden in
Collier County is lower than the national average.
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County government has zoning, and comprehensive plan ordinances designed to protect
the character and values of property; to protect and enhance economic development; and to
maintain and enhance the attractive nature of the area.
Public services include fire protection, solid waste disposal, potable water, sanitary sewer
service and storm water drainage. In some areas of Golden Gate Estates where sanitary
sewer is not available, septic systems are permitted. Public/private companies proved
adequate services for electricity, cable, and internet. Community support facilities such as
schools, parks, churches, shopping, and places of employment are all located within this
market area.
Collier County Sheriff Department provides a full range of services for Collier County.
According to the 2022 statistics listed by the Collier County Sheriff’s Office, Collier County
has one of the lowest crime rates in Florida. The county averages are representative of
conditions in the Golden Gate area.
This market area is served by several arterial roadways. All are six-lane divided highways
with landscaped medians. Improvements include street lighting and concrete curb and
gutter. North-south arterial roadways include Santa Barbara Boulevard which connects
Rattlesnake Hammock Road to Immokalee Road and Collier Boulevard (SR-951) which is a
major arterial linking Marco Island in south Collier County with Immokalee Road near the
north county line. Development along Collier Boulevard is a mixture of single/multi-family
residential, office, light industrial, institutional, and retail.
The Collier Boulevard thoroughfare anchors a grid of arterial roads spaced about 2 miles
apart, that serve the greater Naples coastal community which lies to the west and has direct
access to I-75.
East-west arterials include Golden Gate Parkway, Pine Ridge Road, and Immokalee Road.
Each one provides direct access to Interstate I-75. Development along Pine Ridge Road is
mainly developed with single family homes and institutional uses. Golden Gate Parkway
and Immokalee Roads have a mixture of single/multi-family residential, office, industrial,
institutional, and retail uses. Another east-west arterial is Vanderbilt Beach Road which is a
direct connection between the Golden Gate area and the Naples beaches. Construction has
begun on the Vanderbilt Beach Road Extension, which will be extended to Wilson
Boulevard.
Interstate I-75, which connects Collier County to both North Florida and Florida’s east coast,
serves this entire market area and access is provided by three interchanges.
The arterial road system is laid out in a grid pattern that provides adequate traffic flow to
all areas of the county. Commercial development exists at every major intersection; but the
intersections are designed with proper turns lanes and signaling to provide for adequate
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traffic movement. The road network easily handles traffic demand in the off-season, May
through December. Traffic more than doubles in January, February, March and April
because of seasonal residents and tourists. Even with exceptionally heavy traffic, the road
network usually handles peak traffic demand without major delays.
The rural estates are served by a grid of residential streets and collector roads. The
residential streets, which are two-lane roads with open swales, are located every quarter
mile. Most these roads are paved; however, some residential streets located along the
eastern edge of this market area have yet to be improved. The residential streets feed into
collector roads, which connect to the major arterial highway system. The collector roads
include Santa Barbara Boulevard, Golden Gate Boulevard, Wilson Boulevard, Everglades
Boulevard, Randall Boulevard and Oil Well Road. They are four to six-lanes in the more
populated areas, transitioning to two-lanes in the eastern section of this market area.
Public transportation is provided by a county transit bus service.
Naples Municipal Airport is located outside the market area but is easily accessed by any
resident of the area. The airport is City owned but operated by the independent Naples
Airport Authority. It serves private and commercial aviation, as well as aviation related
activities. It supports government services, such as, Mosquito Control District and Collier
County Sheriff’s aviation unit.
Located within the market area is the Paradise Sports Complex developed by Collier
County. The 60+ acre site is designed with 19 fields to accommodate football, soccer, field
hockey, lacrosse, baseball, and others. There is a 13-acre lake with a beachfront, food-truck
area, a market space, a large lawn, a championship stadium with seating capacity for 3,500
and an indoor fieldhouse. The total budget for the project was approximately $80 million
dollars. Adjacent to the Paradise Sports Complex will be the proposed Great Wolf Lodge
South Florida which is projected to be completed in the spring/summer of 2024. The hotel is
situated on 20 acres and will feature 500 family-friendly suites and an expansive 100,000-
square-foot indoor water park.
Social Influences
Golden Gate City is a diverse community of entry level housing. Residents like the small
town feel and consider it a safe place to raise a family. Residential is approximately 95%
built out. Rural estates are attractive for their quiet country living while being in close
proximity to all that the coastal community has to offer. Build out varies in the rural estates
from 95% in the western portion of the market area to 40% or less in the southeastern
location. Per US Census Bureau forecasts, the 2022 population is 78,769 with a projected
growth to 81,893 (0.78% annual growth) by 2027. This area experiences a lower seasonal
population increase during the winter months than other areas of Collier County.
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The median age is 36.7 with 73.7% of the population being 54 and younger. The median
household income is $83,679. 25.6% have a bachelor’s or professional degree and 24.7%
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 11.9% higher than the average cost of living in the United States.
Conversely, Florida has a cost of living that is 1% higher than the US average. Of the 25
locations included in the Economic Policy Institute's dataset for Florida, Naples-Marco
Island is the 21st most expensive. In Naples, housing is the category with the highest index
(21% above national average), while taxes are the category with the lowest index (15%
below national average). (Ref. Careertrends.com; cost of living analysis). Golden Gate has
some of the highest density of affordable housing units in Collier County, but because of the
high cost of living, home values can still be out of reach for many moving into Collier
County.
One of the main driving forces impacting growth in this area is the quality of schools. This
market area has 15 public schools: two high schools, three middle schools, nine elementary
schools, and three Charter schools. In addition to the public school system, there are three,
faith-based private schools.
Economic Influences
The population increased 20.07% over the last 12 years or 1,097 people per year. The
population is forecasted to increase an additional 3.97% over the next five years for an
average of 625 people per year. This trend is consistent with the past twenty years and
should continue into the near future as buildout continues along the eastern edge of this
market area. The residential population is dominated by working class and young
professional residents. Comparatively, incomes within this market area are less than the
county average.
Development trends:
Residential
This market area provides a large range in home values from entry level housing to million-
dollar estates and is the greatest source of vacant residential lots in the county. Values in
Golden Gate City should remain consistent subject only to general market trends. Values in
the eastern rural estates will increase as buildout in the units closest to the coast continues.
The average home value in the market area is $384,105 which is considerably lower than the
County’s average home value of $567,449. The total number of households in the market
area is 27,440, of which, 69.9% are owner occupied, 22.8% renter occupied and 7.3% vacant.
Vacancy includes seasonal rentals.
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Commercial
Commercial development can be categorized into four different groups. Primary
commercial is in Golden Gate City. Second group is newer construction at the arterial road
intersections. Third is neighborhood commercial within the rural estates. Fourth is the
industrial commerce park near Collier Boulevard and the I-75 interchange.
Golden Gate City is the commercial center serving this market area. Santa Barbara
Boulevard, north of Golden Gate Parkway, has a mixture of multi-family residential and
commercial along the east side of the road. Commercial consists of older single story, single
user buildings and 4 to 8 unit retail plazas. Businesses include daycare/ preschools,
neighborhood food mart and gas stations, construction company offices, barber shops and
beauty salons and small restaurants. Golden Gate Parkway has a mixture of multi-family
and commercial development along both sides of the roadway. Newer commercial consists
of CVS and Walgreens, carwashes, bank branches and national fast food restaurants. There
are three older shopping centers, anchored by Winn Dixie and by Ace Hardware. Single
story commercial structures and strip centers house neighborhood businesses such as
barber shops and beauty salons, florists and jewelers; veterinary services and family
medical clinics; and small locally-run restaurants and food marts. Several businesses
consist of automotive support such as gas stations, oil chance and car washes. Professional
services are primarily located in executive suites located near Santa Barbara Boulevard.
The Quality Inn Hotel & Golf Course located at the southwest corner of Golden Gate
Parkway and Collier Boulevard was purchased by Collier County in 2019. A lease
agreement was signed with BigShots Golf in May 2021 who planned to redevelop the 165
acres with a 12-hole public golf course and a BigShots entertainment facility. The project
has still not yet broke ground.
Commercial frontage along the west side of Collier Boulevard south of Green Boulevard is
very similar to commercial along Golden Gate Parkway in building size, age and use. The
exception is that there is a greater density of national food chains. The second-tier
commercial properties, without major road frontage, are developed with single story
warehouse-type structures housing service-oriented businesses.
Newer commercial development is located along Collier Boulevard where it intersects Pine
Ridge Road and Vanderbilt Beach Road. Each intersection has a shopping center anchored
by either a Publix or Winn-Dixie supermarket. Out parcel development includes bank
branches and gas station/convenience stores and national pharmacies.
Commercial development in the rural estates is limited because residents have orchestrated
an ongoing effort to prohibit commercial development in the residential areas. The only
neighborhood commercial locations are at the intersection of Wilson Boulevard and Golden
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Gate Boulevard, Everglades Boulevard and Golden Gate Boulevard, and at Randall
Boulevard and Immokalee Road.
The Randall Boulevard and Immokalee Road intersection is where the majority of
commercial development is occurring. There is a Publix anchored shopping center on the
east side of the road. Located along the western curve of Immokalee Road is approximately
50 acres that is current being developed and will be known as Randall at Orangetree. Upon
completion, the development will include a 400-unit apartment complex and about 350,000
square feet of commercial space.
Industrial
Industrial/commercial developments are in the northeast quadrant of I-75 and Collier
Boulevard interchange. White Lake Industrial Corp Park is one of Collier County’s three
primary industrial parks. The White Lake Industrial Park contains 144.4 acres and is
approved for 7.80 acres of commercial and 77 acres of industrial. White Lake consists of
newer, good quality flex and warehouse properties and it is home to some of the largest
manufacturing facilities within the county. It is approximately 85-90% built-out.
City Gate Commerce Center contains 288 acres zoned for 2,950,000 S.F. of commercial, light
industry, office, warehouse and distribution. The site has over 3,000 feet of frontage on
Collier Boulevard where a gas station, a 102 room Spring Hill Marriott Hotel and a 100
room Fairfield Inn Marriott have been constructed. The Paradise Sports Complex was also
recently completed. A developer (Uline) recently completed the development of a 936,950-
square-foot Distribution Center on approximately 102.68 acres of land within City Gate.
There is also an Amazon Distribution Center near the corner of Davis and Collier Blvd.
Medical
None of Collier County’s major medical facilities are located within this market area. The
only major medical center/hospital servicing this area is the Physicians Regional Medical
Center located along Pine Ridge Road, just east of Interstate 75. This is a 201-bed facility
and is one of the county's four major medical centers. The hospital offers a 24-hour
emergency department that provides a full range of traditional emergency services. An
additional NCH emergency room facility was completed at the northeast corner of Collier
Boulevard and Immokalee Road. This is a two-story 19 room, state of the art emergency
room with additional medical space for practicing physicians. The facility was built to help
service the rural estates and all the new residential units being constructed along Collier
Boulevard and Immokalee Road. Physicians Regional recently completed a similar facility
at the southeast corner to serve all the new residential development along Immokalee Road
and the Golden Gates Estates community. Encompass Health Rehabilitation Hospital of
Naples is a recently completed 50-bed rehabilitation hospital along Collier Boulevard, north
of Vanderbilt Beach Road.
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6617 Report Market Area
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Construction, education, and retail trade dominate the market area business sector.
MARKET AREA LIFE CYCLE
Market areas often pass through a four-stage life cycle of growth, stability, decline, and
revitalization.
• Growth – A period during which the market area gains public favor and acceptance.
• Stability – A period of equilibrium without marked gains or losses.
• Decline – A period of diminishing demand
• Revitalization – A period of renewal, redevelopment, modernization and increasing
demand.
Most of the real estate activity in Golden Gate reflects the growth cycle. The residential and
commercial markets continue to be strong. The growth cycle is expected to continue into the
near future. Because of the age of the structures, the western portion and the city center are
just beginning to experience some revitalization.
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CONCLUSION
This continues to be one of the most affordable market areas in Collier County. The houses
within the city center provide entry level housing and the rural area satisfies the desire for
larger lot sizes and rural lifestyle. A well-designed road network provides easy access to
jobs serving the coastal community; coastal beaches and water activities; entertainment
endeavors; and commercial and medical services. This area appeals to a cross section of the
population but primarily to working-class families. Development continues to push north
and east where vacant lots still exist. Golden Gate will likely continue to enjoy a healthy
growth while maintaining its affordability.
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PROPERTY INFORMATION
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SITE DESCRIPTION – DR. ROBERT H. GORE III PRESERVE
Summary Dr. Robert H. Gore III Preserve consists of a total of 268
parcels or a total of 600.5 acres. The parcels are located in
southern Golden Gate Estates, between 36th Avenue SE and
Interstate 75, and east and west of Desoto Boulevard South.
Parcel ID#& Owners There are a total of 147 parcels or just over 377 acres that
Collier County is considering purchasing. A complete list of
the parcels is included in the addendum of the report.
Size The parcels range in size from 1.14 to 7.17 acres.
Shape All the parcels are rectangular in shape.
Access All parcels have legal and physical access along paved and
non-paved roads. The parcels are accessible from Desoto
Boulevard South, 36th Avenue SE, 38th Avenue SE, 40th
Avenue SE, and 42nd Avenue SE.
Topography The properties are generally level.
Ground Cover The majority of the properties are covered in native and
6617 Report Property Information
Carroll & Carroll 32
exotic vegetation and have never been cleared.
I was provided with a Conservation Collier Property
Summary for Dr. Robert H. Gore III Preserve dated July
2023.
The parcels are located within the Gore Target Protection
Mailing area which connects with the Florida Panther
National Wildlife Refuge to the east, Picayune Strand State
Forest to the south across Interstate 75, and Fakahatchee
State Strand Preserve to the southeast across Interstate 75.
The parcels consist of a mixture of vegetative communities
including cypress, cypress-mixed hardwoods, mixed
wetland hardwoods, mixed scrub-shrub wetland, and pine
flatwoods with most containing wetlands.
Utilities Electricity, telephone and TV cable are available. The
properties are serviced by well and septic.
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ENVIRONMENTAL CONTAMINATION
Observed Contamination None
Noted Concerns None
Environmental Assessment
Available
No
Impact on Value None
Disclaimer Unless otherwise stated in this report, the existence
of hazardous substances or environmental
conditions including but not limited to asbestos,
polychlorinated biphenyls, petroleum leakage,
agricultural chemicals, urea formaldehyde
insulation, lead paint, toxic mold, et cetera, which
might or might not be present in or on the property
were not called to the attention of the appraiser.
Such tests were not in the appraiser's required
scope of work, the appraiser is not qualified to test
for such substances and conditions and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any such conditions that might exist,
or for the knowledge and expertise required to
discover them.
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NATURAL RESOURCE CONCERNS
Condition of subject The majority of the properties are covered in native
and exotic vegetation and have never been cleared.
I was provided with a Conservation Collier
Property Summary for Dr. Robert H. Gore III
Preserve dated July 2023.
The parcels consist of a mixture of vegetative
communities including cypress, cypress-mixed
hardwoods, mixed wetland hardwoods, mixed
scrub-shrub wetland, and pine flatwoods with most
containing wetlands.
All plant and animal communities are of interest
and concern. To a greater or lesser degree
depending on the species and the quality of habitat
they occupy, plants and animals inhabiting the
property will invoke some level of scrutiny and will
result in some cost during the permitting process.
Natural Resource Audits Available Yes
Impact on Value N/A
Disclaimer
Specialized natural resource audits were not in the
appraiser’s required scope of work, the appraiser is
not qualified to conduct such audits and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any extraordinary natural resource
concerns, or for the knowledge and expertise
required to discover them.
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6617 Report Property Information
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FUTURE LAND USE
Ordinance or Plan Collier County
Future Land Use Designation GGE- Golden Gate Estates
Residential Estates Subdistrict
Purpose of Designation The Estates Land Use Designation encompasses lands
which are already subdivided into semi-rural
residential parcels (2.25 acres as an average)
essentially consisting of the Golden Gate Estates
Subdivision. The area is identified as having potential
for population growth far removed from supportive
services and facilities. Expansion of the area shall be
discouraged.
Refer to the Golden Gate Area Master Plan for siting
criteria and development standards for specific land
uses.
Under the Estates future land use designation there is
no provision for a conditional use and therefore a
conditional use approval requires an amendment to
the GGAMP.
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6617 Report Property Information
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ZONING
Ordinance or Land Development
Code
Collier County
Zoning E- Estates
Purpose or Intent of Zoning The subject is zoned “E” – Estates District. The
purpose and intent of the Estates district is to provide
lands for low density residential development in a
semi-rural to rural environment. In addition, several
conditional uses including churches, social and
fraternal organizations, child care centers, private
schools, and group care facilities are available under
conditional use provisions. Permitted uses include
single-family dwellings and Family Care Facilities,
and public schools. Conditional uses permissible in
the Estates district include churches and other places
of worship, social and fraternal organizations, child
and adult care centers, schools and group care
facilities. These conditional uses are strictly
regulated.
Below are the development requirements as set forth
in the Estate Zoning District:
Minimum Lot Area: 98,010 square feet
or 2.25 acres
Minimum Lot Width: 150 feet
Minimum Front Yard Setback: 75 feet minimum
Minimum Side Yard Setback: 30 feet
Minimum Rear Yard Setback: 75 feet
Maximum Building Height: 30 feet
Overlay District None.
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6617 Report Highest and Best Use
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HIGHEST AND BEST USE
DEFINITION
The Dictionary of Real Estate Appraisal, 7th Edition, published 2022 by the Appraisal
Institute, defines Highest and Best Use as:
The reasonably probable use of property that results in the highest value. The four criteria that the
highest and best use must meet are legal permissibility, physical possibility, financial feasibility,
and maximum productivity.
METHOD
There are four criteria that must be met in order for a use to be the highest and best use for a
given property. The highest and best use must be:
• Legally permissible.
• Physically Possible.
• Financially feasible.
• Maximally productive.
Ordinarily these criteria are considered sequentially, each step narrowing the range of
alternative uses being considered.
ANALYSIS
SITE AS THOUGH VACANT
Legally Permissible – All parcels are zoned E-Estates with a future land use of Residential
Estates. The purpose and intent of the E-Estates district is to apply to an area of low-density
single-family residences in a semi-rural environment and permits all necessary residential
activities as well as the keeping of limited agricultural animals as specified in this division.
Physically Possible: The sites are level and at or slightly below road grade and could be
developed as a single-family home sites. The location, surrounding land uses, and the size
of the properties suggest some type of single-family use. Due to the potential presence of
wetlands on the sites, mitigation could be required to develop single-family residences on
some of the properties.
Financially Feasible: The financial feasibility of single-family residential development is
good. The single-family residential market continues to be strong, especially new
construction. Single-family residential development is financially feasible.
Although it is not an economic use, acquisition of lands in the area by Collier County is
encouraged for habitat preservation and conservation.
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Maximally Productive: The maximally productive use is that the wetlands be mitigated,
and the properties developed with single-family residences, or the properties be purchased
for preservation, conservation, and restoration.
CONSIDERATION OF APPROACHES
Only the sales comparison approach is appropriate for these vacant parcels.
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SALES COMPARISON APPROACH
INTRODUCTION
In the sales comparison approach, the subject property is compared with similar properties
that have sold recently or for which listing prices or offering prices are known. Data from
generally similar properties is used, and comparisons are made to demonstrate a probable
price at which the subject property would sell if offered on the market. This approach is
particularly strong when comparable sales data is plentiful and there is good conformity
among properties in the neighborhood.
Following is the procedure to be followed in developing this approach:
1. Research the market to gather information on sales, listings, and offers to purchase
properties similar to the subject.
2. Verify the information as to factual accuracy and arm's-length market considerations.
3. Identify relevant units of comparison and develop a comparative analysis for each
unit.
4. Compare the subject with comparable sale properties using elements of comparison
and adjust the sale price of each comparable appropriately.
5. Reconcile the various value indicators produced from the analysis of comparables into
a single value indication or a range of values.
The outline above is developed in detail on the following pages.
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DR. ROBERT H. GORE III PRESERVE (1.14-2.73 ACRES)
Collier County is interested in determining a per acre value for the various tiers for the Dr.
Robert H. Gore III Preserve Area to assist them in acquiring parcels for the Conservation
Collier land preservation program. The price per acre will be estimated for the various tiers
for parcels ranging in size from 1.14 acres-2.73 acres, 2.74 acres-4.00 acres, and 4.01-7.17
acres.
Tiers
I. Up to 25% Wetlands
II. 26-50% Wetlands
III. 51-75% Wetlands
IV. 76-100% Wetlands
SALES DATA
A search was made for sales of land comparable to the subject parcels. The intention was to
find comparable sales in similar locations that offer similar functional utility. A total of 25
comparable sales were identified as the best available for analysis.
Price per acre of gross 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, sellers, and
brokers of land similar to the subject parcel.
Comparable land sales grids are given on the following pages. Each comparable is
identified by a number which will be used for reference throughout the report. Each
comparable is identified on the location map immediately following this page.
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LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES
6617 Report Sales Comparison Approach
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LAND SALES ADJUSTMENT GRID – 0-75% WETLANDS
ITEM SUBJECT COMP #1 COMP #2 COMP #3 COMP #4 COMP #5 COMP #6 COMP #7 COMP #8
PARCEL #41167800005 41170960000 41717680002 41715080002 41227000004 41396680009 41169600009 41344600109
PROPERTY IDENTIFICATION Dr. Robert H. Gore 4659 22nd 22nd Avenue 3962 Everglades 2930 38th 24th Avenue 32nd Avenue 20th Avenue 26th Avenue
III Preserve Avenue SE SE Blvd. S Avenue SE SE SE SE SE
SALE PRICE N/A $140,000 $135,000 $65,000 $97,000 $77,500 $83,500 $90,000 $65,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0 0 0 0
CONDITIONS OF SALE Market Market Market Market Market Pending Market Market Market
0 0 0 0 0 0 0 0
BUILDING IMPROVEMENTS None None None None None None None None None
0 0 0 0 0 0 0 0
FINANCING Cash or Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller Conventional Cash to seller Cash to seller
Equivalent 0 0 0 0 0 0 0 0
ADJUSTED SALE PRICE N/A $140,000 $135,000 $65,000 $97,000 $77,500 $83,500 $90,000 $65,000
Recording Date N/A 10/02/23 10/23/23 05/24/23 09/07/23 02/01/24 09/27/23 10/30/23 10/29/23
Months Prior To Effective Date 02/01/24 4.01 3.32 8.32 4.83 0.00 4.17 3.09 3.12
MARKET CHANGE ADJUSTMENT N/A 4.0%3.3%8.3%4.8%0.0%4.2%3.1%3.1%
ADJUSTED SALE PRICE N/A $145,615 $139,482 $70,406 $101,687 $77,500 $86,986 $92,781 $67,030
Parcel Area in Gross Acres 1.14-2.73 2.73 2.50 1.17 2.50 2.27 2.27 2.73 2.50
PRICE PER ACRE ?$53,339 $55,793 $60,176 $40,675 $34,141 $38,320 $33,986 $26,812
LOCATION
ADDRESS Gore Preserve 22nd Ave. SE 22nd Ave. SE Everglades Blvd.38th Ave. SE 24th Ave. SE 32nd Ave. SE 20th Ave. SE 26th Ave. SE
CORNER LOT N/A No No No No No No No No
PAVED ROAD Yes Yes Yes Yes Yes Yes Yes Yes Yes
CANAL FRONTAGE N/A No No No No No No No No
OVERALL LOCATION Average Superior Superior Superior Superior Superior Superior Superior Superior
-10%-10%-10%-10%-10%-10%-10%-10%
UTILITIES Well & Septic Similar Similar Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%0%0%
COMP. PLAN Estates Estates Estates Estates Estates Estates Estates Estates Estates
ZONING E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates
0%0%0%0%0%0%0%0%
SIZE IN ACRES 1.14-2.73 2.73 2.50 1.17 2.50 2.27 2.27 2.73 2.50
SHAPE/CONFIGURATION Rectangular Similar Similar Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%0%0%
PHYSICAL CHARACTERISTICS Native Veg.Similar Similar Similar Similar Similar Similar Similar Similar
WETLANDS Yes No Yes Yes Yes Yes Yes Yes
WETLANDS %15%0%12%35%48%48%50%+50-75%
WETLANDS QUALITY Average N/A N/A Low/Medium N/A Low/Medium N/A Medium
0%0%0%0%0%0%0%0%
GROSS ADJUSTMENT N/A 10%10%10%10%10%10%10%10%
INDICATION OF UNIT VALUE ?$48,005 $50,214 $54,158 $36,607 $30,727 $34,488 $30,587 $24,131
6617 Report Sales Comparison Approach
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LAND SALES ADJUSTMENT GRID – 76-100% WETLANDS
ITEM SUBJECT COMP #9 COMP #10 COMP #11 COMP #12 COMP #13
PARCEL #41501000005 41503760000 41500780009 41500520007 41509120000
PROPERTY IDENTIFICATION Dr. Robert H. Gore 34th Avenue 4430 34th 34th Avenue 36th Avenue 40th Avenue
III Preserve SE Avenue SE SE SE SE
SALE PRICE N/A $40,000 $60,000 $50,000 $57,000 $53,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0
CONDITIONS OF SALE Market Market Market Market Market Market
0 0 0 0 0
BUILDING IMPROVEMENTS None None None None None None
0 0 0 0 0
FINANCING Cash or Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller
Equivalent 0 0 0 0 0
ADJUSTED SALE PRICE N/A $40,000 $60,000 $50,000 $57,000 $53,000
Recording Date N/A 09/12/23 01/03/24 09/21/23 01/02/24 01/29/24
Months Prior To Effective Date 02/01/24 4.67 0.95 4.37 0.99 0.10
MARKET CHANGE ADJUSTMENT N/A 4.7%1.0%4.4%1.0%0.1%
ADJUSTED SALE PRICE N/A $41,867 $60,572 $52,186 $57,562 $53,052
Parcel Area in Gross Acres 1.14-2.73 2.27 2.73 2.50 2.50 2.73
PRICE PER ACRE ?$18,444 $22,188 $20,874 $23,025 $19,433
LOCATION
ADDRESS Gore Preserve 34th Ave. SE 34th Ave. SE 34th Ave. SE 36th Ave. SE 40th Ave. SE
CORNER LOT N/A No No No No No
PAVED ROAD Yes Yes Yes Yes Yes Yes
CANAL FRONTAGE N/A No No No No No
OVERALL LOCATION Average Similar Similar Similar Similar Similar
0%0%0%0%0%
UTILITIES Well & Septic Similar Similar Similar Similar Similar
0%0%0%0%0%
COMP. PLAN Estates Estates Estates Estates Estates Estates
ZONING E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates
0%0%0%0%0%
SIZE IN ACRES 1.14-2.73 2.27 2.73 2.50 2.50 2.73
SHAPE/CONFIGURATION Rectangular Similar Similar Similar Similar Similar
0%0%0%0%0%
PHYSICAL CHARACTERISTICS Native Veg.Similar Similar Similar Similar Similar
WETLANDS Yes Yes Yes Yes Yes
WETLANDS %N/A 100%100%100%100%
WETLANDS QUALITY N/A N/A Low/Medium N/A N/A
0%0%0%0%0%
GROSS ADJUSTMENT N/A 0%0%0%0%0%
INDICATION OF UNIT VALUE ?$18,444 $22,188 $20,874 $23,025 $19,433
6617 Report Sales Comparison Approach
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DISCUSSION OF ADJUSTMENTS
Usually, comparable sale properties are not exactly like the subject property. If a typical
buyer would perceive the difference to be significant, then adjustment(s) must be made to
the comparable sales so that in the end each offers a realistic indication of value for the
subject. Adjusting comparable sales is a two-step process.
First, adjustments are made so that all of the comparable sales meet the standard of a
“market” transaction as outlined in the definition of market value. Customarily, the first
group of adjustments is made before the comparables are reduced to a common unit of
comparison. Included at this stage are adjustments to bring historic sales current to the
appraisal effective date.
The second group of adjustments is made after an appropriate unit of comparison is chosen.
These adjustments account for physical differences like location, physical characteristics and
size. Sometimes adjustment is required for differences in the permitted land use (zoning) or
in the availability of public service (infrastructure). When the adjustment process is
complete, the unit value indications are reconciled and converted into an estimate of value
for the subject.
REAL PROPERTY RIGHTS CONVEYED
This adjustment category is intended to account for the interest, benefits, and rights
inherent in the ownership of real estate. This category reflects the impact on value caused
by the fee simple versus the leased fee interest or the contract rent as opposed to market
rent.
• None of the comparable sales required adjustment in this category.
CONDITIONS OF SALE
This adjustment category is intended to account for a variety of factors that might affect
the purchase price.
• 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.
• None of the comparable sales required adjustment in this category.
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FINANCING
Adjustments in this category are intended to account for unusual terms of financing that
are not considered equivalent to cash or conventional financing.
• None of the comparable sales required adjustment in this category.
MARKET CHANGE
This adjustment is intended to account for changes in value due to the ebb and flow of
market forces over time.
• The comparables occurred between 2023 and 2024, which market conditions continue
to improve.
I analyzed recent paired sales in the submarket area which indicate positive market
change. Land values continue to appreciate due to the demand for affordable
residential land. The buyers include a mix of individuals who plan to build a home,
investors, and speculative home builders.
Giving consideration to all of the above, I applied a market change rate of 1.00% per
month or 12.00% annually.
LOCATION/ACCESS/EXPOSURE
This category of adjustment reflects the impact on value caused by the advantages or
disadvantages of a given location.
• Comparables 1, 2, 3, 4, 5, 6, 7, and 8 are all located north or west of the subject in
superior locations, and each was adjusted downward 10%.
UTILITIES/INFRASTRUCTURE
This category of adjustment references the availability and adequacy of the road system,
the public was distribution system and the public wastewater collection system of each
comparable property as that compares with the same services available to the subject
property.
• None of the comparable sales required adjustment in this category.
COMPREHENSIVE PLAN/LAND USE
This category of adjustment accounts for differences in the potential land uses
(Comprehensive Plan) or in the specific uses (Zoning) to which a property could be
developed. Differences in value between the subject property and comparable sales might
exist because their highest and best uses are different as a result of government regulation
through zoning and land use controls.
6617 Report Sales Comparison Approach
Carroll & Carroll 49
• None of the comparables sales required adjustment in this category.
SIZE/SHAPE
This category of adjustment addresses the effect on the marketability of a given property,
because its physical size/shape might limit the physical utility, or because the size and
term of the financial investment required of an investor/speculator is such that the unit
price is reduced.
• None of the comparable sales required adjustment in this category.
PHYSICAL CHARACTERISTICS
This category of adjustment reflects the physical aspects of a property that impact its use
for development. Physical characteristics included land elevation, soil conditions,
drainage characteristics, threatened or endangered plant and animal species on the
property and the extent and density of covering vegetation.
• I was provided with a Conservation Collier Property Summary for Dr. Robert H. Gore
III Preserve dated July 2023. The parcels consist of a mixture of vegetative communities
including cypress, cypress-mixed hardwoods, mixed wetland hardwoods, mixed scrub-
shrub wetland, and pine flatwoods with most containing wetlands.
• I analyzed aerials, reviewed the listing history, and interviewed brokers, buyers and
sellers to determine the wetlands associated with the Comparable sales.
No adjustments were made for physical characteristics and instead the comparables
were bracketed with some being superior, similar, and inferior.
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RECAPITULATION OF DATA
After making the adjustments discussed above, the comparable sales indicated the
following unit values:
UP TO 25% WETLANDS
Comparables Price Per Gross Acre
of Land Area
1 $48,005
2 $50,214
3 $54,158
The range of unit value indications is from $48,005 to $54,158 per acre with an average of
$50,792 per acre and a median of $50,214 per acre.
Based on the range, I concluded to a unit value of $50,000 per acre.
6617 Report Sales Comparison Approach
Carroll & Carroll 51
26-50% WETLANDS
Comparables Price Per Gross Acre
of Land Area
4 $36,607
5 $30,727
6 $34,488
The range of unit value indications is from $30,727 to $36,607 per acre with an average of
$33,941 per acre and a median of $34,488 per acre.
Based on the range, I concluded to a unit value of $34,000 per acre.
6617 Report Sales Comparison Approach
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51-75% WETLANDS
Comparables Price Per Gross Acre
of Land Area
7 $30,587
8 $24,131
The range of unit value indications is from $24,131 to $30,587 per acre with an average of
$27,359 per acre.
Based on the range, I concluded to a unit value of $27,000 per acre.
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76-100% WETLANDS
Comparables Price Per Gross Acre
of Land Area
9 $18,444
10 $22,188
11 $20,874
12 $23,025
13 $19,433
The range of unit value indications is from $18,444 to $23,025 per acre with an average of
$20,793 per acre and a median of $20,874 per acre.
Based on the range, I concluded to a unit value of $21,000 per acre.
FINAL ESTIMATE OF VALUE – DR. ROBERT H. GORE III PRESERVE
(1.14-2.73 ACRES)
The final indications of value on a per acre basis as of February 1, 2024 are presented below.
Tier Amount of Wetlands Price Per Gross Acre
I Up to 25% Wetlands $50,000
II 26-50% Wetlands $34,000
III 51-75% Wetlands $27,000
IV 76-100% Wetlands $21,000
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DR. ROBERT H. GORE III PRESERVE (2.74-7.17 ACRES)
SALES DATA
A search was made for sales of land comparable to the subject parcels. The intention was to
find comparable sales in similar locations that offer similar functional utility. A total of 12
comparable sales were identified as the best available for analysis.
Price per acre of gross 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, sellers, and
brokers of land similar to the subject parcel. There are a limited number of parcels from
2.74 to 4.00 acres within the Dr. Robert H. Gore III Preserve and it appears there is not
difference in unit price given the size differences. The larger parcels tend to sell for similar
unit prices because they can be subdivided into two or more lots.
Comparable land sales grids are given on the following pages. Each comparable is
identified by a number which will be used for reference throughout the report. Each
comparable is identified on the location map immediately following this page.
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LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES
6617 Report Sales Comparison Approach
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LAND SALES ADJUSTMENT GRID – 0-75% WETLANDS
ITEM SUBJECT COMP #14 COMP #15 COMP #16 COMP #17 COMP #18 COMP #19
PARCEL #41397480004 41170960000 41615160006 41661520001 &4145012007 &41447400002
41661480002 41450160009
PROPERTY IDENTIFICATION Dr. Robert H. Gore 3908 32nd 22nd Avenue 40th Avenue 40th Avenue 26th Avenue Desoto
III Preserve Avenue SE SE SE SE SE Blvd. S
SALE PRICE N/A $265,000 $200,000 $160,000 $120,000 $135,000 $70,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0 0
CONDITIONS OF SALE Market Market Market Market Market Market Market
0 0 0 0 0 0
BUILDING IMPROVEMENTS None None None None None None None
0 0 0 0 0 0
FINANCING Cash or Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller
Equivalent 0 0 0 0 0 0
ADJUSTED SALE PRICE N/A $265,000 $200,000 $160,000 $120,000 $135,000 $70,000
Recording Date N/A 03/17/23 03/06/23 04/26/23 07/08/22 10/26/23 12/15/22
Months Prior To Effective Date 02/01/24 10.55 10.91 9.24 18.84 3.22 13.58
MARKET CHANGE ADJUSTMENT N/A 10.6%10.9%9.2%18.8%3.2%13.6%
ADJUSTED SALE PRICE N/A $292,964 $221,828 $174,780 $142,604 $139,349 $79,504
Parcel Area in Gross Acres 2.74-7.17 5.68 5.00 5.00 5.68 5.46 2.81
PRICE PER ACRE ?$51,578 $44,366 $34,956 $25,106 $25,522 $28,293
LOCATION
ADDRESS Gore Preserve 32nd Ave. SE 22nd Ave. SE 40th Ave. SE 40th Ave. SE 26th Ave. SE Desoto Blvd. S
CORNER LOT N/A No No No No No Yes
PAVED ROAD Yes Yes Yes Yes Yes Yes Yes
CANAL FRONTAGE N/A Yes No No Yes No No
OVERALL LOCATION Average Superior Superior Superior Similar Superior Similar
-25%-10%-10%0%-10%0%
UTILITIES Well & Septic Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
COMP. PLAN Estates Estates Estates Estates Estates Estates Estates
ZONING E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates
0%0%0%0%0%0%
SIZE IN ACRES 2.74-7.17 5.68 5.00 5.00 5.68 5.46 2.81
SHAPE/CONFIGURATION Rectangular Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
PHYSICAL CHARACTERISTICS Native Veg.Similar Similar Similar Similar Similar Similar
WETLANDS No No Yes Yes Yes Yes
WETLANDS %Various 0%0%25-50%47%65%50-75%
WETLANDS QUALITY N/A N/A N/A Very Low N/A N/A
0%0%0%0%0%0%
GROSS ADJUSTMENT N/A 25%10%10%0%10%0%
INDICATION OF UNIT VALUE ?$38,684 $39,929 $31,460 $25,106 $22,970 $28,293
6617 Report Sales Comparison Approach
Carroll & Carroll 57
LAND SALES ADJUSTMENT GRID – 76-100% WETLANDS
ITEM SUBJECT COMP #20 COMP #21 COMP #22 COMP #23 COMP #24 COMP #25
PARCEL #41506480002 41506240006 41440360000 41502040006 41510560002 41510840007 &
41510840104
PROPERTY IDENTIFICATION Dr. Robert H. Gore 3728 Desoto Desoto &30th Avenue 34th Avenue 40th Avenue 34th Avenue
III Preserve Blvd. S 36th Ave. SE SE SE SE SE
SALE PRICE N/A $54,900 $50,000 $115,000 $82,000 $76,000 $115,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0 0
CONDITIONS OF SALE Market Market Market Pending Market Market Market
0 0 0 0 0 0
BUILDING IMPROVEMENTS None None None None None None None
0 0 0 0 0 0
FINANCING Cash or Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller
Equivalent 0 0 0 0 0 0
ADJUSTED SALE PRICE N/A $54,900 $50,000 $115,000 $82,000 $76,000 $115,000
Recording Date N/A 01/05/23 02/02/23 02/01/24 10/20/23 04/14/23 04/28/23
Months Prior To Effective Date 02/01/24 12.89 11.97 0.00 3.42 9.63 9.17
MARKET CHANGE ADJUSTMENT N/A 12.9%12.0%0.0%3.4%9.6%9.2%
ADJUSTED SALE PRICE N/A $61,975 $55,983 $115,000 $84,803 $83,320 $125,547
Parcel Area in Gross Acres 2.74-7.17 2.81 2.81 5.00 5.00 6.11 6.96
PRICE PER ACRE ?$22,055 $19,923 $23,000 $16,961 $13,637 $18,038
LOCATION
ADDRESS Gore Preserve Desoto Blvd. S Desoto Blvd. S 30th Ave. SE 34th Ave. SE 40th Ave. SE 34th Ave. SE
CORNER LOT N/A No Yes No No No No
PAVED ROAD Yes Yes Yes Yes Yes No Yes
CANAL FRONTAGE N/A No No No No No No
OVERALL LOCATION Average Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
UTILITIES Well & Septic Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
COMP. PLAN Estates Estates Estates Estates Estates Estates Estates
ZONING E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates
0%0%0%0%0%0%
SIZE IN ACRES 2.74-7.17 2.81 2.81 5.00 5.00 6.11 6.96
SHAPE/CONFIGURATION Rectangular Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
PHYSICAL CHARACTERISTICS Native Veg.Similar Similar Similar Similar Similar Similar
WETLANDS Yes Yes Yes Yes Yes Yes
WETLANDS %Various 93%N/A 100%100%100%100%
WETLANDS QUALITY N/A N/A N/A N/A N/A N/A
0%0%0%0%0%0%
GROSS ADJUSTMENT N/A 0%0%0%0%0%0%
INDICATION OF UNIT VALUE ?$22,055 $19,923 $23,000 $16,961 $13,637 $18,038
6617 Report Sales Comparison Approach
Carroll & Carroll 58
DISCUSSION OF ADJUSTMENTS
Usually, comparable sale properties are not exactly like the subject property. If a typical
buyer would perceive the difference to be significant, then adjustment(s) must be made to
the comparable sales so that in the end each offers a realistic indication of value for the
subject. Adjusting comparable sales is a two-step process.
First, adjustments are made so that all of the comparable sales meet the standard of a
“market” transaction as outlined in the definition of market value. Customarily, the first
group of adjustments is made before the comparables are reduced to a common unit of
comparison. Included at this stage are adjustments to bring historic sales current to the
appraisal effective date.
The second group of adjustments is made after an appropriate unit of comparison is chosen.
These adjustments account for physical differences like location, physical characteristics and
size. Sometimes adjustment is required for differences in the permitted land use (zoning) or
in the availability of public service (infrastructure). When the adjustment process is
complete, the unit value indications are reconciled and converted into an estimate of value
for the subject.
REAL PROPERTY RIGHTS CONVEYED
This adjustment category is intended to account for the interest, benefits, and rights
inherent in the ownership of real estate. This category reflects the impact on value caused
by the fee simple versus the leased fee interest or the contract rent as opposed to market
rent.
• None of the comparable sales required adjustment in this category.
CONDITIONS OF SALE
This adjustment category is intended to account for a variety of factors that might affect
the purchase price.
• 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.
• None of the comparable sales required adjustment in this category.
6617 Report Sales Comparison Approach
Carroll & Carroll 59
FINANCING
Adjustments in this category are intended to account for unusual terms of financing that
are not considered equivalent to cash or conventional financing.
• None of the comparable sales required adjustment in this category.
MARKET CHANGE
This adjustment is intended to account for changes in value due to the ebb and flow of
market forces over time.
• The comparables occurred between 2022 and 2024, which market conditions continue
to improve.
I analyzed recent paired sales in the submarket area which indicate positive market
change. Land values continue to appreciate due to the demand for affordable
residential land. The buyers include a mix of individuals who plan to build a home,
investors, and speculative home builders.
Giving consideration to all of the above, I applied a market change rate of 1.00% per
month or 12.00% annually.
LOCATION/ACCESS/EXPOSURE
This category of adjustment reflects the impact on value caused by the advantages or
disadvantages of a given location.
• Comparables 14, 15, 16, and 18 are all located north or west of the subject in superior
locations, and each was adjusted downward 10%. Comparable 14 also has canal
frontage and was adjusted downward an additional 15%.
UTILITIES/INFRASTRUCTURE
This category of adjustment references the availability and adequacy of the road system,
the public was distribution system and the public wastewater collection system of each
comparable property as that compares with the same services available to the subject
property.
• None of the comparable sales required adjustment in this category.
COMPREHENSIVE PLAN/LAND USE
This category of adjustment accounts for differences in the potential land uses
(Comprehensive Plan) or in the specific uses (Zoning) to which a property could be
developed. Differences in value between the subject property and comparable sales might
6617 Report Sales Comparison Approach
Carroll & Carroll 60
exist because their highest and best uses are different as a result of government regulation
through zoning and land use controls.
• None of the comparables sales required adjustment in this category.
SIZE/SHAPE
This category of adjustment addresses the effect on the marketability of a given property,
because its physical size/shape might limit the physical utility, or because the size and
term of the financial investment required of an investor/speculator is such that the unit
price is reduced.
• None of the comparable sales required adjustment in this category.
PHYSICAL CHARACTERISTICS
This category of adjustment reflects the physical aspects of a property that impact its use
for development. Physical characteristics included land elevation, soil conditions,
drainage characteristics, threatened or endangered plant and animal species on the
property and the extent and density of covering vegetation.
• I was provided with a Conservation Collier Property Summary for Dr. Robert H. Gore
III Preserve dated July 2023. The parcels consist of a mixture of vegetative communities
including cypress, cypress-mixed hardwoods, mixed wetland hardwoods, mixed scrub-
shrub wetland, and pine flatwoods with most containing wetlands.
• I analyzed aerials, reviewed the listing history, and interviewed brokers, buyers and
sellers to determine the wetlands associated with the Comparable sales.
No adjustments were made for physical characteristics and instead the comparables
were bracketed with some being superior, similar, and inferior.
6617 Report Sales Comparison Approach
Carroll & Carroll 61
RECAPITULATION OF DATA
After making the adjustments discussed above, the comparable sales indicated the
following unit values:
UP TO 25% WETLANDS
Comparables Price Per Gross Acre
of Land Area
14 $38,684
15 $39,929
The range of unit value indications is from $38,684 to $39,929 per acre with an average of
$39,306 per acre.
Based on the range, I concluded to a unit value of $39,000 per acre.
6617 Report Sales Comparison Approach
Carroll & Carroll 62
26-50% WETLANDS
Comparables Price Per Gross Acre
of Land Area
16 $31,460
17 $25,106
The range of unit value indications is from $25,106 to $31,460 per acre with an average of
$28,283 per acre. Comparable 16 is a more recent sale and was given more consideration.
Based on the range, I concluded to a unit value of $30,000 per acre.
6617 Report Sales Comparison Approach
Carroll & Carroll 63
51-75% WETLANDS
Comparables Price Per Gross Acre
of Land Area
18 $22,970
19 $28,293
The range of unit value indications is from $22,970 to $28,293 per acre with an average of
$25,631 per acre.
Based on the range, I concluded to a unit value of $25,500 per acre.
6617 Report Sales Comparison Approach
Carroll & Carroll 64
76-100% WETLANDS
Comparables Price Per Gross Acre
of Land Area
20 $22,055
21 $19,923
22 $23,000
23 $16,961
24 $13,637
25 $18,038
The range of unit value indications is from $13,637 to $23,000 per acre with an average of
$18,936 per acre and a median of $18,891 per acre. Comparable 24 is a low indicator due to
its location along a non-paved road.
Based on the range, I concluded to a unit value of $20,000 per acre.
FINAL ESTIMATE OF VALUE – DR. ROBERT H. GORE III PRESERVE
(2.74-7.17 ACRES)
The final indications of value on a per acre basis as of February 1, 2024 are presented below.
Tier Amount of Wetlands Price Per Gross Acre
I Up to 25% Wetlands $39,000
II 26-50% Wetlands $30,000
III 51-75% Wetlands $25,500
IV 76-100% Wetlands $20,000
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
6617 Report Addenda
Carroll & Carroll
ADDENDA
(In Order of Appearance)
Page Topic Count Page(s) Page(s)
Assumptions and Limiting Conditions............................................................................ 2
Parcel List.............................................................................................................................. 3
Qualifications of Appraiser................................................................................................ 2
6617 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 CONDITIONS
None
GENERAL ASSUMPTIONS AND LIMITING CONDITIONS
1. No responsibility is assumed for the legal description or for matters including legal or title
considerations. Title to the property is assumed to be good and marketable.
2. The property is appraised free and clear of liens and encumbrances.
3. Responsible ownership and competent property management are assumed.
4. The information furnished by others is assumed to be true, correct and reliable. A
reasonable effort was made to verify such information, but the appraiser bears no
responsibility for its accuracy.
5. All engineering is assumed to be correct. The plot plans and illustrative material is
included only to assist the reader in visualizing the property.
6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or
structures that render it more or less valuable. No responsibility is assumed for such
conditions or for arranging for engineering studies that might be required to discover
them.
7. It is assumed that there is full compliance with all applicable federal, state, and local
environmental regulations and laws.
6617 Report Addenda
Carroll & Carroll
8. It is assumed that the property is either in compliance with, or is "grandfathered" or
"vested" under, all applicable zoning, use regulations and restrictions.
9. It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any local, state, or national government or
private entity or organization have been, or can be, obtained or renewed for any use on
which the value estimate is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries or
property lines of the property described, and that there is no encroachment or trespass.
11. It is assumed that the subject site and improvements are not contaminated by any
hazardous material or toxic substance. During the property inspection we were sensitive
to obvious signs of contamination and we reported anything unusual. However, we are
not qualified to render professional opinions regarding the existence or the nature of
hazardous materials in or on the subject property. If a definitive opinion is desired, then
the client is urged to retain an expert in the field.
12. The distribution of the total value in this report, between land and improvements, applies
only under the stated program of utilization. The separate allocations for land and
buildings must not be used in conjunction with any other appraisal and are invalid if so
used.
13. Possession of this report, or a copy thereof, does not carry with it the right of publication.
14. Unless previous arrangements were made, the appraisers, by reason of this appraisal, are
not required to give further consultation, testimony, or to be in attendance in court.
6617 Report Addenda
Carroll & Carroll
6617 Report Addenda
Carroll & Carroll
6617 Report Addenda
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6617 Report Addenda
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6617 Report Addenda
Carroll & Carroll
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
REAL ESTATE APPRAISAL REPORT
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY
Residential Land
Generally within Golden Gate Estates Units 91, 91A, 92, and 92A
Naples, Collier County, Florida, 34117
PREPARED FOR:
Mr. Roosevelt Leonard, R/W-AC
Supervisor – Real Property Management
Collier County
3335 Tamiami Trail East, Suite 101
Naples, FL 34112
Client File: PO Number 4500229737
EFFECTIVE DATE OF THE APPRAISAL:
February 24, 2024
DATE OF THE REPORT:
March 1, 2024
REPORT FORMAT:
Appraisal Report
PREPARED BY:
RKL Appraisal and Consulting, PLC
RKL File Number: 2024-063
Dr. Robert H. Gore III Preserve Area Market Study
Generally within Golden Gate Estates Units 91, 91A, 92, and 92A
Naples, Florida
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
March 1, 2024
Mr. Roosevelt Leonard, R/W-AC
Collier County
3335 Tamiami Trail East, Suite 101
Naples, FL 34112
Re: Real Estate Appraisal
Dr. Robert H. Gore III Preserve Area Market Study
Generally within Golden Gate Estates Units 91, 91A, 92, and 92A, Naples,
Collier County, Florida, 34117
Client File: PO Number 4500229737
RKL File Number: 2024-063
Dear Mr. Leonard:
At your request, RKL Appraisal and Consulting, PLC has prepared the accompanying appraisal
for the above referenced property. The purpose of the appraisal is to estimate the market value on
a price per acre basis for the targeted Dr. Robert H. Gore III Preserve Project Area of Golden
Gate Estates in Units 91 and 92. A tier valuation will be provided as follows, a per acre value for
parcels between 1.14 acres – 2.73 acres; parcels between 2.74 – 4.00 acres; and parcels between
4.01 – 7.17 acres consisting of i) up to 25% wetlands, ii) 25-50% wetlands, iii) 50-75% wetlands,
and 75-100% wetlands. The intended users for the assignment are Collier County Real Property
Management (Conservation Collier Program), and the intended use of the appraisal is to assist
Collier County in its determination of market value for the potential acquisition through the
Conservation Collier Program. We use the appraisal report option of Standards Rule 2-2 of
USPAP to report the assignment results.
Please reference the appraisal scope section of this report for important information regarding the
scope of research and analysis for this appraisal, including property identification, inspection,
highest and best use analysis, and valuation methodology.
The accompanying appraisal conforms with the Uniform Standards of Professional Appraisal
Practice (USPAP), the Code of Professional Ethics and Standards of Professional Appraisal
Practice of the Appraisal Institute, and the appraisal guidelines of Collier County. The appraisal
also conforms with the appraisal regulations issued in connection with the Financial Institutions
Reform, Recovery and Enforcement Act (FIRREA).
The subject market area is identified as the Dr. Robert H. Gore III Preserve Project Area. The
entire Dr. Robert H. Gore Preserve project boundary, totaling 600.5 acres, was approved for the
A-list by the Board of County Commissioners on February 28, 2023. To date, the Program has
acquired 29% of the project area or 68 parcels for a total of 174.4 acres within Golden Gate
Estates Units 91, 91A, 92, and 92A. A total of 147 parcels are targeted consisting of 377.17 acres
remaining to be acquired. The per acre values reported in this market study will be offered to
property owners with 1.14 to 7.17 acre parcels. The parcels are located within the Estates zoning
designation which allows for low density residential development with limited agricultural uses.
Mr. Roosevelt Leonard, R/W-AC
Collier County
March 1, 2024
Page 2
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
Based on the appraisal described in the accompanying report, subject to the Limiting
Conditions and Assumptions, Extraordinary Assumptions and Hypothetical Conditions
(if any), I have made the following value conclusion(s):
VALUE CONCLUSIONS
Appraisal Premise Interest Appraised Date of Value
Market Value, As Is Fee Simple February 24, 2024
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions: None.
Extraordinary Assumptions: None.
Respectfully submitted,
RKL APPRAISAL AND CONSULTING, PLC
Rachel M. Zucchi, MAI, CCIM
Florida State-Certified General Real Estate Appraiser RZ2984
rzucchi@rklac.com; Phone 239-596-0801
25 - 50% Wetlands:
50 - 75% Wetlands:
Up to 25% Wetlands:$43,000
1.14 - 2.73 acresSubject Size:
75 - 100% Wetlands:
$35,000
Indicated Value per Acre
$30,000
$25,000
25 - 50% Wetlands:$31,500
50 - 75% Wetlands:$26,500
75 - 100% Wetlands:$21,500
Indicated Value per Acre
Up to 25% Wetlands:$41,500 $39,500
$33,500
$28,500
$23,500
Subject Size:2.74 - 4.00 acres 4.01 - 7.17 acres
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY TABLE OF CONTENTS
TABLE OF CONTENTS
Summary of Important Facts and Conclusions ................................................................... 1
Introduction Information ..................................................................................................... 3
Subject Identification ...................................................................................................... 3
Current Ownership and Property History ....................................................................... 3
Appraisal Scope .............................................................................................................. 3
Client, Intended User, and Intended Use ........................................................................ 4
Definition of Market Value ............................................................................................. 4
Definition of Property Rights Appraised ........................................................................ 4
Purpose of Appraisal, Property Rights Appraised, and Dates ........................................ 4
Scope of Work ................................................................................................................ 5
Economic Analysis ............................................................................................................. 6
National Economic Analysis........................................................................................... 6
Florida Economic Analysis ............................................................................................. 8
Collier County Area Analysis ......................................................................................... 9
Property Description and Analysis ................................................................................... 27
Site Analysis ................................................................................................................. 27
Highest and Best Use .................................................................................................... 40
Valuation Methodology .................................................................................................... 42
Analyses Applied .......................................................................................................... 43
Sales Comparison Approach: 1.14-2.73 Acres ............................................................. 44
Sales Comparison Approach: 2.74-7.17 Acres ............................................................. 52
Reconciliation ............................................................................................................... 58
Final Value Conclusion................................................................................................. 58
Certification ...................................................................................................................... 60
Assumptions and Limiting Conditions ............................................................................. 62
Addenda
Appraiser Qualifications ....................................................................................... Addendum A
Property Information ............................................................................................ Addendum B
Comparable Data .................................................................................................. Addendum C
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDYSUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
Page 1
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
GENERAL
Subject:
Dr. Robert H. Gore III Preserve Area Market Study
Generally within Golden Gate Estates Units 91, 91A, 92, and
92A, Naples, Collier County, Florida, 34117
Owner: Multiple
Legal Description: Multiple parcels generally within Golden Gate Estates Units 91,
91A, 92, and 92A
Tax Identification: Multiple parcels generally within Golden Gate Estates Units 91,
91A, 92, and 92A
Intended Use: The intended use is to assist Collier County in its determination
of market value for the potential acquisition through the
Conservation Collier Program.
Intended User(s): Collier County Real Property Management (Conservation Collier
Program)
PROPERTY
Market Area: Dr. Robert H. Gore III Preserve Area
Gross Land Area (Acres): 377.17
Typical Parcel Site (Acres): 1.14 – 7.17
Zoning: E - Estates
FDEP Standard Map: According to the FDEP Standard Map, the Dr. Robert H. Gore III
Preserve Project Area consists mainly of Freshwater Forested/Shrub
Wetlands. According to the Conservation Collier Property
Summary, the Preserve is within a historic wetland that connects
with the Florida Panther National Wildlife Refuge (FPNWR) to the
east, however it is separated by Desoto and the Test Track.
According to Collier County FDEP Informal Wetland
Determinations map, the Dr. Robert H. Gore III Preserve Project
Area consists mainly of Depressional or Slough Hydric Soils.
Several parcels have been identified to indicate wetlands and will
require permits prior to development.
Highest and Best Use:
As Vacant
Conservation and/or single-family development
Exposure Time 9-12 months
Marketing Period 9-12 months
VALUE INDICATIONS
Effective Date(s) February 24, 2024
Property Rights Fee Simple
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDYSUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
Page 2
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions: None.
Extraordinary Assumptions: None.
25 - 50% Wetlands:
50 - 75% Wetlands:
Up to 25% Wetlands:$43,000
1.14 - 2.73 acresSubject Size:
75 - 100% Wetlands:
$35,000
Indicated Value per Acre
$30,000
$25,000
25 - 50% Wetlands:$31,500
50 - 75% Wetlands:$26,500
75 - 100% Wetlands:$21,500
Indicated Value per Acre
Up to 25% Wetlands:$41,500 $39,500
$33,500
$28,500
$23,500
Subject Size:2.74 - 4.00 acres 4.01 - 7.17 acres
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY INTRODUCTION INFORMATION
Page 3
INTRODUCTION INFORMATION
SUBJECT IDENTIFICATION
Subject:
Dr. Robert H. Gore III Preserve Area Market Study
Generally within Golden Gate Estates Units 91, 91A, 92,
and 92A, Naples, Collier County, Florida, 34117
Legal Description: Multiple parcels generally within Golden Gate Estates
Units 91, 91A, 92, and 92A
Tax Identification: Multiple parcels generally within Golden Gate Estates
Units 91, 91A, 92, and 92A
The subject market area is identified as the Dr. Robert H. Gore III Preserve Project Area.
The entire Dr. Robert H. Gore Preserve project boundary, totaling 600.5 acres, was
approved for the A-list by the Board of County Commissioners on February 28, 2023. To
date, the Program has acquired 29% of the project area or 68 parcels for a total of 174.4
acres within Golden Gate Estates Units 91, 91A, 92, and 92A. A total of 147 parcels are
targeted consisting of 377.17 acres remaining to be acquired. The per acre values
reported in this market study will be offered to property owners with 1.14 to 7.17 acre
parcels. The parcels are located within the Estates zoning designation which allows for
low density residential development with limited agricultural uses.
CURRENT OWNERSHIP AND PROPERTY HISTORY
Owner
There are multiple owners.
APPRAISAL SCOPE
According to the Uniform Standards of Professional Appraisal Practice, it is the
appraiser’s responsibility to develop and report a scope of work that results in credible
results that are appropriate for the appraisal problem and intended user(s). Therefore, the
appraiser must identify and consider:
● the client and any other intended users;
● the intended use of the appraiser’s opinions and conclusions;
● the type and definition of value;
● the effective date of the appraiser’s opinions and conclusions;
● subject of the assignment and its relevant characteristics
● assignment conditions
● the expectations of parties who are regularly intended users for similar
assignments; and
● what an appraiser’s peer’s actions would be in performing the same or a similar
assignment.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY INTRODUCTION INFORMATION
Page 4
CLIENT, INTENDED USER, AND INTENDED USE
The client and the intended user of the appraisal is Collier County Real Property
Management (Conservation Collier Program). The intended use is to assist Collier
County in its determination of market value for the potential acquisition through the
Conservation Collier Program. The appraisal is not intended for any other use or user.
DEFINITION OF MARKET VALUE
Market value definition used by agencies that regulate federally insured financial
institutions in the United States is defined by The Dictionary of Real Estate Appraisal,
7th ed. (Chicago: Appraisal Institute, 2022) as:
The most probable price that a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller each acting prudently
and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit
in this definition is the consummation of a sale as of a specified date and the passing
of title from seller to buyer under conditions whereby:
▪ Buyer and seller are typically motivated;
▪ Both parties are well informed or well advised, and acting in what they consider
their best interests;
▪ A reasonable time is allowed for exposure in the open market;
▪ Payment is made in terms of cash in United States dollars or in terms of
financial arrangements comparable thereto; and
▪ The price represents the normal consideration for the property sold unaffected
by special or creative financing or sales concessions granted by anyone
associated with the sale.”
(Source: 12 C.F.R. Part 34.42(h); 55 Federal Register 34696, August 24, 1990, as amended at 57
Federal Register 12202, April 9, 1992; 59 Federal Register 29499, June 7, 1994; 79 Federal Register
28400, May 16, 2014; 83 Federal Register April 9, 2018; 84 Federal Register, October 8, 2019)
DEFINITION OF PROPERTY RIGHTS APPRAISED
Fee simple estate is defined as an: “Absolute ownership unencumbered by any other
interest or estate, subject only to the limitations imposed by the governmental powers of
taxation, eminent domain, police power, and escheat.” (Source: The Dictionary of Real
Estate Appraisal, 7th ed. (Chicago: Appraisal Institute, 2022)
PURPOSE OF APPRAISAL, PROPERTY RIGHTS APPRAISED, AND DATES
The purpose of the appraisal is to estimate the market value on a price per acre basis for
the targeted Dr. Robert H. Gore III Preserve Project Area of Golden Gate Estates in Units
91 and 92. A tier valuation will be provided as follows, a per acre value for parcels
between 1.14 acres – 2.73 acres; parcels between 2.74 – 4.00 acres; and parcels between
4.01 – 7.17 acres consisting of i) up to 25% wetlands, ii) 25-50% wetlands, iii) 50-75%
wetlands, and 75-100% wetlands. The effective date of the subject appraisal is February
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY INTRODUCTION INFORMATION
Page 5
24, 2024. The date of inspection was February 24, 2024. The date of the report is March
1, 2024.
SCOPE OF WORK
The problem to be solved is to estimate the market value on a price per acre basis for the
targeted Dr. Robert H. Gore III Preserve Project Area of Golden Gate Estates in Units 91
and 92. A tier valuation will be provided as follows, a per acre value for parcels between
1.14 acres – 2.73 acres; parcels between 2.74 – 4.00 acres; and parcels between 4.01 –
7.17 acres consisting of i) up to 25% wetlands, ii) 25-50% wetlands, iii) 50-75%
wetlands, and 75-100% wetlands.
SCOPE OF WORK
Report Type: This is an Appraisal Report as defined by Uniform
Standards of Professional Appraisal Practice under
Standards Rule 2-2(a). This format provides a summary or
description of the appraisal process, subject and market
data and valuation analyses.
Property Identification: The subject area is identified as between 36th Avenue SE
and I-75, east and west of Desoto Boulevard.
Inspection: A limited on site inspection was made and photographs
were taken.
Market Area and Analysis of
Market Conditions:
A complete analysis of market conditions has been made.
The appraiser maintains and has access to comprehensive
databases for this market area and has reviewed the market
for sales and listings relevant to this analysis.
Highest and Best Use Analysis:
A complete as vacant highest and best use analysis for the
subject has been made. Physically possible, legally
permissible, and financially feasible uses were considered,
and the maximally productive use was concluded.
Valuation Analyses
Cost Approach:
A cost approach was not applied as there are no
improvements that contribute value to the property.
Sales Comparison Approach:
A sales approach was applied as typically this is the most
appropriate approach for the valuation of vacant land. This
approach is applicable to the subject because there is an
active market for similar properties and sufficient sales data
is available for analysis.
Income Approach:
An income approach was not applied as the subject is not
likely to generate rental income as vacant land.
Hypothetical Conditions: None.
Extraordinary Assumptions: None.
Comments
The individual sections of the report detail the additional research, confirmation, and
analysis of relevant data.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY NATIONAL ECONOMIC ANALYSIS
Page 6
ECONOMIC ANALYSIS
NATIONAL ECONOMIC ANALYSIS
The Federal Reserve Open Market Committee (FOMC) released the following statement
on January 31, 2024. Recent indicators suggest that economic activity has been
expanding at a solid pace. Job gains have moderated since earlier last year but remain
strong, and the unemployment rate has remained low. Inflation has eased over the past
year but remains elevated.
The Committee seeks to achieve maximum employment and inflation at the rate of 2
percent over the longer run. The Committee judges that the risks to achieving its
employment and inflation goals are moving into better balance. The economic outlook is
uncertain, and the Committee remains highly attentive to inflation risks.
In support of these goals, the Committee decided to maintain the target range for the
federal funds rate at 5-1/4 to 5-1/2 percent. In considering any adjustments to the target
range for the federal funds rate, the Committee will carefully assess incoming data, the
evolving outlook, and the balance of risks. The Committee does not expect it will be
appropriate to reduce the target range until it has gained greater confidence that inflation
is moving sustainably toward 2 percent. In addition, the Committee will continue
reducing its holdings of Treasury securities and agency debt and agency mortgage-
backed securities, as described in its previously announced plans. The Committee is
strongly committed to returning inflation to its 2 percent objective.
In assessing the appropriate stance of monetary policy, the Committee will continue to
monitor the implications of incoming information for the economic outlook. The
Committee would be prepared to adjust the stance of monetary policy as appropriate if
risks emerge that could impede the attainment of the Committee's goals. The Committee's
assessments will take into account a wide range of information, including readings on
labor market conditions, inflation pressures and inflation expectations, and financial and
international developments.
The following table details the economic forecasts of Federal Reserve Board members
and Federal Reserve Bank presidents as of December 2023. Real GDP is projected to
grow at a rate of 1.4% in 2024, a decrease from the September projection of 1.5%. The
unemployment projection for 2024 remained the same at 4.1%. The Core PCE inflation
projection also decreased from 2.6% to 2.4% in 2024.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY NATIONAL ECONOMIC ANALYSIS
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According to Freddie Mac Chief Economist Sam Khater, “Given inflation continues to
decelerate and the Federal Reserve Board’s current expectations that they will lower the
federal funds target rate next year, we likely will see a gradual thawing of the housing
market in the new year.” According to a December 2013 AP report, the recent downward
shift in mortgage rates is a welcome development for homebuyers. Mortgage applications
notched their sixth consecutive weekly increase last week, according to the Mortgage
Bankers Association.
According to an November 2023 report by Lawrence Yun, although high mortgage rates,
elevated home prices and limited housing inventory have crippled the 2023 housing
market, the outlook for 2024 is brighter. Mr. Yun expects existing-home sales to increase
by 15% in 2024 as mortgage rates stabilize and home sellers adapt. “I believe we’ve
already reached the peak in terms of interest rates. The question is when are rates going
to come down?”
According to the National Association of Real Estate Investment Trusts’ (NAREIT) 2024
Outlook, with the Federal Reserve at, or near, the end of its tightening cycle, REITs are
well-situated for outsized performance in 2024. “While public real estate valuations have
adjusted, private real estate valuations probably will see further declines in 2024.” The
firm noted that REITs’ well-managed balance sheets likely will enable them to navigate
economic uncertainty in 2024.
The 2024 CBRE U.S. Real Estate Market Outlook there is an increased chance that the
U.S. will avoid a recession and achieve a soft economic landing in 2024, but economic
growth will slow and downside risks are elevated. Commercial real estate investment
activity likely will begin to pick up in the second half of 2024. The normalization of
hybrid working arrangements will continue to limit the growth of office demand. Retail
real estate fundamentals are expected to remain strong due to the scarcity of new
construction deliveries over the past decade. The industrial market is expected to remain
healthy, with net absorption on par with 2023 levels. The biggest wave of new apartment
supply in decades will temper rent growth and improve affordability for renters in 2024.
The hotel industry will face headwinds to RevPAR growth in 2024, including
competition from alternative lodging sources and a slower economy, but fewer
Americans traveling internationally will benefit the domestic market. Demand for new
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY FLORIDA ECONOMIC ANALYSIS
Page 8
data center development will attract more institutional investment in 2024, as investors
reallocate capital from the office sector to real estate alternatives.
According to the Deloitte Center for Financial Services annual Commercial Real Estate
Outlook for 2024, “the global real estate industry has an opportunity to start rebuilding on
more solid ground. Multiple factors, from a pandemic-era recovery that shifted how and
where people work to more recent geopolitical uncertainties and financial market
instability, the coming year is expected to be pivotal in real estate firms’ ability to recover
and build up. Marked by a myriad of mixed signals about the health and trajectory of our
industry, real estate leaders may need to find their footing as they shape the next phase of
real estate ownership and investment.”
According to the PwC Emerging Trends in Real Estate 2024, there’s a reluctant
acceptance in the industry that interest rates will remain high for at least the next year and
possibly even longer. “Even good news, such as investors being eager to acquire new
assets, is tempered by bleak sector data. For example, despite available equity,
transactions are down — and many in the industry point to instances where buyers and
sellers simply can’t agree on pricing because the dearth of sales limits price clarity.”
Respondents to the Emerging Trends survey believe the worst of inflation is behind us,
which should give the Federal Reserve a reason to pause interest rate hikes.
According to J.P. Morgan Chase 2024 commercial real estate outlook, “multifamily and
neighborhood retail stay strong, while industrial may be starting to soften. The future of
office buildings remains unclear.” They also report the future of interest rates is uncertain
as the economy begins to slow down.
FLORIDA ECONOMIC ANALYSIS
According to the U.S. Census Bureau, after a historically low rate of change between
2020 and 2021, the U.S. resident population increased by 0.4%, or 1,256,003, to
333,287,557 in 2022. Florida was the fastest-growing state in 2022, with an annual
population increase of 1.9%, resulting in a total resident population of 22,244,823. It was
also the second largest-gaining state behind Texas, with an increase of 416,754 residents.
Net migration was the largest contributing component of change to Florida’s growth,
adding 444,484 residents. “While Florida has often been among the largest-gaining
states,” Kristie Wilder, a demographer in the Population Division at the Census Bureau
noted, “this was the first time since 1957 that Florida has been the state with the largest
percent increase in population.
According to the Summer 2023 Florida Forecast prepared by the Institute for Economic
Competitiveness at the University of Central Florida, Florida’s economy, as measured by
real Gross State Product, will expand at an average annual rate of 1.5% from 2023 to
2026. Real Gross State Product will decelerate during the economic slowdown as growth
will slow to 0.5% in 2024 and 0.8% in 2025, then accelerate to reach 1.7% by 2026.
Payroll job growth in Florida will begin to falter with a slowdown in the U.S. economy,
but not in every sector. After year-over-year growth of 4.7% in 2021 and job growth of
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
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5.6% in 2022, payroll employment in 2023 will decrease to 2.4%, contract by 1.8% in
2024, and by 0.4% in 2025. Job growth turns positive and grows by 1.0% in 2026.
Housing starts have felt the bitter chill of higher mortgage rates. Total starts were
192,213 in 2022—before higher mortgage rates and worries of a slowing economy will
result in a deceleration in starts to 183,134 in 2023, 158,716 in 2024, 154,424 in 2025,
and 150,981 in 2026.
The unemployment rate fell to 4.7% in 2021, and then to 2.9% in 2022. The slowing
economy will push the rate up to 3.1% in 2023, to 4.4% in 2024, and to 5.0% in 2025 and
2026.
COLLIER COUNTY AREA ANALYSIS
Collier County has long been an attractive place to retire and it continues to be an area
that experiences a great deal of seasonal population increases. According to the Collier
County Comprehensive Planning Department, Collier County’s population increases up
to 25% between November and April due to seasonal residents and short-term
agricultural workers in the Immokalee area. The population increase creates a high
degree of seasonality within the retail, service, and hospitality sectors of Collier County’s
economy.
Collier County is located less than 150 miles from Fort Myers, Fort Lauderdale, Miami,
Sarasota, and West Palm Beach as shown in the following table.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
Page 10
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
Population
The Bureau of Economic and Business Research, University of Florida released the
following population statistics for Southwest Florida. As shown, total population
increased in all six Southwest Florida counties with the greatest percentage growth in Lee
County and the second highest in Collier County.
2022 2025 2030
2022 2025 2030 2035 to 2025 to 2030 to 2035
Southwest Florida 1,895,116 1,995,400 2,142,100 2,261,600 5.29%7.35%5.58%
Charlotte 196,742 206,600 220,900 232,100 5.01%6.92%5.07%
Collier 390,912 409,800 436,900 459,500 4.83%6.61%5.17%
Glades 12,273 12,300 12,400 12,500 0.22%0.81%0.81%
Hendry 40,633 41,600 43,000 44,000 2.38%3.37%2.33%
Lee 802,178 852,500 927,700 989,100 6.27%8.82%6.62%
Sarasota 452,378 472,600 501,200 524,400 4.47%6.05%4.63%
Percent Change
Projections of Florida Population by County, 2025-2050, with Estimates for 2022
Source: University of Florida, Bureau of Economic and Business Research, Florida Population Studies,
Bulletin 195, April 2023
Population
The following table shows the projected population through 2050. As shown, Lee County
also has the highest projected growth rates with Collier County second.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
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County
and State 2025 2030 2035 2040 2045 2050
CHARLOTTE
Low 192,100 195,500 195,600 193,400 190,200 186,900
Medium 206,600 220,900 232,100 241,000 248,700 256,000
High 221,100 246,300 268,700 288,600 307,100 325,100
COLLIER
Low 385,200 393,200 396,300 394,400 390,300 385,800
Medium 409,800 436,900 459,500 476,600 491,000 504,400
High 434,400 480,500 522,600 558,800 591,600 622,900
GLADES
Low 11,600 11,200 10,800 10,400 10,000 9,700
Medium 12,300 12,400 12,500 12,600 12,600 12,700
High 13,100 13,700 14,200 14,700 15,200 15,700
HENDRY
Low 39,100 38,700 38,000 37,100 36,100 35,200
Medium 41,600 43,000 44,000 44,800 45,400 46,100
High 44,100 47,300 50,100 52,500 54,800 56,900
LEE
Low 801,300 835,000 853,100 858,400 857,300 854,400
Medium 852,500 927,700 989,100 1,037,300 1,078,300 1,116,800
High 903,600 1,020,500 1,125,100 1,216,200 1,299,400 1,379,300
SARASOTA
Low 444,300 451,100 452,300 449,400 444,400 438,800
Medium 472,600 501,200 524,400 543,100 559,000 573,600
High 501,000 551,300 596,500 636,800 673,600 708,400
Projections, April 1
Projections of Florida Population by County
2025-2050
Source: Bureau of Economic and Business Research, Florida Population Studies, Bulletin 195
U.S. News & World Report, the global authority in rankings and consumer advice
evaluated the country’s 150 most populous metropolitan areas based on affordability, job
prospects and desirability. The 2022-2023 25 Best Places to Retire is dominated by
Pennsylvania and Florida metro areas. Pensacola is the top Florida market at No. 3
behind Lancaster and Harrisburg, PA. Naples is No. 6 overall while Sarasota is No. 11.
Naples is ranked 12th overall in the 2022-2023 Best Places to Live report released by U.S.
News & World Report in May 2022. Cape Coral-Fort Myers fell from No. 43 to No. 100
while Sarasota-Bradenton maintained its No. 9 ranking. According to data released by the
National Association of Realtors in November 2022, half of the top 10 most expensive
markets were in California. Naples | Marco Island was the 8th most expensive and only
Florida market in the top ten.
Employment
The local economy is largely dependent on the real estate market. Covid-19 negatively
impacted overall employment and the service and leisure and hospitality sectors in
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
Page 12
particular; however, jobs continue to return as the market improves. Tourism drives much
of the Collier County area's economy, with leisure and hospitality composing almost 20%
of the workforce.
The following table shows the 1Q 2024 Collier County Employment by Industry as well
as historical and projected job growth.
The following table shows employment projections through 2030 by the Florida
Department of Economic Opportunity. As shown, the construction industry has the
largest projected growth rate of 16.6% followed by Education and Health Services
(12.7%).
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
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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
JOBS BY INDUSTRY
CHARLOTTE, COLLIER, GLADES, HENDRY, AND LEE COUNTIES
Collier County unemployment peaked in August 2010 at 13.0% and had generally been
declining until the Covid-19 pandemic with unemployment peaking again at 13.1% in
April 2020. The preliminary reported unemployment rate in June 2023 was only 3.0%.
The annual Collier County rate peaked in 2010 at 11.6% and had declined steadily since
until the spike from the Covid-19 pandemic in April 2020. However, unemployment
numbers have steadily decreased as the economy continues to improve. The 2020 annual
rate was 7.3%. The annual rate declined to 3.7% in 2021 and 2.8% in 2022.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
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As of June 2023, the unemployment rate for the State of Florida was 3.0%, down from
the peak in May 2020 of 14.2%. On a national level, the unemployment rate in June 2023
was 3.6%, a decrease from the peak in April 2020 of 14.7%. Collier County currently has
a similar June rate, at 3.0%, than state levels and lower rate than national levels.
The local economy is largely dependent on the real estate market. The following table
from the U.S. Department of Labor shows Naples/Immokalee/Marco Island employment
from 2013 through July 2023. As shown, unemployment from the Covid-19 pandemic
affected the service and leisure and hospitality sectors the most. With the exception of
Leisure and Hospitality, all sectors have regained all lost jobs and have exceeded 2019
levels. The Leisure and Hospitality sector has declined again due to the signficant
damage caused by Hurricane Ian.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
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Year
Service-
Providing
%
Change
Goods
Producing
%
Change
Mining, Logging, &
Const.
%
Change
Leisure and
Hospitality
%
Change
All Employees,
Total Nonfarm
%
Change
2013 109,600 2.8%13,500 11.6%10,500 11.7%24,400 3.4%123,300 3.9%
2014 114,400 4.4%15,400 14.1%12,100 15.2%25,500 4.5%129,800 5.3%
2015 119,000 4.0%17,000 10.4%13,600 12.4%26,500 3.9%136,000 4.8%
2016 123,800 4.0%18,700 10.0%14,900 9.6%27,500 3.8%142,500 4.8%
2017 126,100 1.9%19,400 3.7%15,400 3.4%28,300 2.9%145,500 2.1%
2018 129,400 2.6%21,500 10.8%17,200 11.7%29,100 2.8%150,900 3.7%
2019 133,100 2.9%22,400 4.2%17,700 2.9%30,000 3.1%155,500 3.0%
2020 126,200 -5.2%22,100 -1.3%17,200 -2.8%25,600 -14.7%148,400 -4.6%
2021 133,100 5.5%23,200 5.0%18,100 5.2%27,800 8.6%156,300 5.3%
2022 140,400 5.5%24,800 6.9%19,400 7.2%29,100 4.7%165,200 5.7%
2023*140,400 0.2%25,500 4.6%19,900 5.0%28,700 -4.1%165,900 0.8%
*Through July 2023; percentage increase in comparison to July 2022 YTD
Source: U.S. Department of Labor
Naples - Immokalee - Marco Island
Collier County and the entire Southwest Florida Region is substantially dependent on the
real estate and construction sectors. Therefore, the area has been and should be more
susceptible to cyclical fluctuations that have occurred in other areas dominated by a
single industry. The Southwest Florida Economic Development Alliance reports key
employers in Southwest Florida (Collier, Lee and Charlotte County) from Biofuels,
healthcare, technology, apparel design, to sugar production are a driving force behind the
region’s success. The table below provides a few examples of some key employers in
Southwest Florida.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
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The following table shows the Top 25 Employers as reported by the Florida Gulf Coast
University Regional Economic Research Institute on July 27, 2021.
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
Tourist Tax Revenues
The following graph from the Southwest Florida Regional Economic Indicators August
2023 report prepared by Florida Gulf Coast University shows Collier, Lee, Charlotte,
Sarasota County’s tourist tax revenues. The after-effects of Hurricane Ian continue to be
felt in the Southwest Florida economy. Lee County’s seasonally-adjusted real tourist tax
revenues dropped to $2.7 million in June 2023, a 3% decline from the May 2023 measure
of $2.6 million and 50% below the June 2022 figure. Collier County’s seasonally-
adjusted real tourist tax revenues rose to $3.6 million in June 2023, a 1% increase from
May 2023 but 12% below the June 2022 figure.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
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Development
Growth continues to shift east with Ave Maria becoming the top-selling single-family
residential community in Collier County and was recently ranked as one of the Top 20
Selling Master-Planned Communities in the United States. It has maintained the top
ranking in the Naples-Fort Myers market for the past eight years. Ave Maria reported a
total of 586 new home sales in 2022, a decrease from the record breaking 646 new home
sales in 2021, but still the highest-ranking commumity in all of Collier County. There are
currently four residential builders in Ave Maria, CC Homes, Del Webb Naples, Lennar
and Pulte Homes. The grand opening of The National Golf and Country Club at Ave
Maria, a bundled golf community by Lennar, was held on January 7, 2021. The
Immokalee Road corridor between Naples and Ave Maria is projected to see thousands of
new homes developed in the next few years. According to a June 2023 Naples Daily
News article, Collier County commissioners approved an increase in the town of Ave
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
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Maria by nearly 1,000 acres to 5,000 acres which doesn’t include the roughly 1,000-acre
Ave Maria University campus and other public benefits such as parks. According to
David Genson, president of development for Barron Collier Cos., while more single-
family homes will be built, the maximum number of residences won’t change, with the
cap remaining at 11,000. With the way the town was originally laid out, it would have
supported about 8,400 units without adding more land. The original plans called for 60%
of the homes to be single-family which will increase to more than 80%. According to
Genson, they are on pace to possibly sell close to 700 homes in 2023. Approximately
50% of the buyers are from the east coast of Florida.
In January 2020, in what has been described as one of the most important votes for the
future of growth in Collier County, commissioners approved Rivergrass Village. The
village is the first of three planned 1,000-acre villages stretching from just north of Oil
Well Road to east of Golden Gate Boulevard East. Rivergrass Village will allow for up to
2,500 homes; 100,000 square feet of retail and office uses and a minium of 25,000 square
feet for civic government, and institutional buildings. Longwater Village will allow for
up to 2,600 homes; 65,000 square feet of retail and office space and 25,000 square feet
for civic government, and institutional buildings and Bellmar Village will allow for up to
2,750 homes; 85,000 square feet of retail and office space and 27,500 square feet for
civic government, and institutional buildings. In a near unanimous decision, the Collier
County Planning Commission agreed to recommend approval of Longwater in March
2021. The project has sparked controversy because the property sits in the
environmentally sensitive Rural Lands Stewardship Area, or RLSA. Commissioners
voted to approve the Longwater and Bellmar Villages on June 8, 2021. The
commissioners approved Brightshore, another rural village with thousands of proposed
homes in December 2022.
There are more than $1 billion in new luxury high-rise developments near the coast
including One Naples at the northeast corner of Vanderbilt Beach Road and Gulf Shore
Drive as well as Pelican Bay (Mystique completed in 2019) and Kalea Bay (Towers 100
and 200 are complete, Tower 300 was completed in December 2022, Tower 400
currently under construction) in North Naples. New commercial development is very
active at the intersections of Collier Boulevard and US 41 East as well as Collier
Boulevard and Immokalee Road.
In its 3rd Quarter 2023 report, the Office of Federal Housing Enterprise Oversight
(OFHEO) found that the Naples- Marco Island MSA had a 6.5% increase in home prices
(all-transactions including purchase and refinance mortgage) over the trailing 12 months.
Homes prices in the state of Florida increased 4.89% over the past year (3Q 2022 - 3Q
2023) which was 32nd in the nation.
The continuing care retirement community, Moorings Park, teamed with London Bay
Homes to develop an independent living development with 275 residences in 17
buildings. All of the buildings are six stories over parking. Grande Lake, will be built on
55 acres off Golden Gate Parkway, between Airport-Pulling and Livingston Roads.
Entrance fees start at $1.5 million and are 70% refundable. Construction on the first 47
units in three buildings commenced in December 2018 with completion in May 2020.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
Page 19
Arthrex, a medical device manufacturer and one of the county's largest employers,
completed construction of its latest expansion plan at its headquarters along Goodlette-
Frank Road in early 2020. The development includes a 300,000 square-foot, six-story
office complex with an auditorium, a four-story Innovation Hotel with approximately 160
rooms, a two-story wellness center, and a 3-acre park. The hotel hosts orthopedic
surgeons from the U.S. and around the world for medical education on the company's
devices and instruments. Arthrex has contracted with a Tampa-based company, Mainsail,
to manage all elements of the hotel operation, including employees.
The first regional store for Phoenix-based Sprouts Farmers Market anchors The Landings
at Logan, a new 18-acre retail center at the southeast corner of Immokalee Road and
Logan Boulevard in North Naples. NCH Healthcare Northeast located at the northeast
quadrant of Immokalee Road and Collier Blvd (CR 951) opened in late 2015 and is the
first free standing ER facility in Collier County. The two-story building consists of
approximately 41,500± square feet.
Barron Collier Companies and Metro Development Group broke ground on Founders
Square, a 55-acre mixed-use development located on the southeast corner of Immokalee
Road and Collier Boulevard in January 2020. The development is anchored by The
Pointe, a collection of 10 separate restaurants and other retail tenants. It also includes a
400-unit Class A apartment community, known as The Haldeman; a 35,000 square foot
medical office building leased by Physicians Regional Medical Healthcare; and
StorQuest a 110,000 square foot self-storage facility.
Seed to Table, a new Oakes Farm grocery store at the northeast corner of Livingston and
Immokalee Roads in North Naples opened in December 2019. The former Albertson's
was completely gutted and consists of 77,000+ square foot store with sit-down dining, a
full-service bar, three bars for beer and wine, wine room with samples on tap, a wood-
fired brick oven for pizza, a raw bar, sushi bar, grilling area, coffee bar and stations
preparing fresh pasta, guacamole, cheese, cut vegetables, sandwiches, smoothies and
even homemade ice cream with indoor-outdoor seating.
Paradise Coast Sports Complex, is Collier County’s new $100 million Amateur Sports
Complex. The county hopes to become a destination for traveling youth sports teams and
amateur athletes. While the focus of the complex is athletics, there will be 20 fields
between soccer, baseball and softball, plus a 10,000-person championship stadium, the
goal is to get people to stay after the game is over with The Cove and The Factory. The
Cove is a bar and food truck area for patrons to relax, listed to live music and play a
variety of yard games (bag toss, oversized Connect Four and Jenga, plus ping pong). The
Factory is an outdoor workout facility focusing on functional fitness (similar to CrossFit)
which is available on a monthly membership basis. Additionally, the man-made lake next
to The Cove includes a 2/3 mile jogging loop with three workout stations. There is a
climbing wall for public use and a beach volleyball court.
Collier County Commissioners approved a $15 million economic development agreement
on June 22, 2021 for The Great Wolf Lodge. The land was purchased for $9,100,000 in
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
Page 20
July 2021 and construction commenced in July 2022. The Lodge will be built on 20 acres
of land along City Gate Boulevard North and will feature a 100,000 square foot indoor
water park, 500-room hotel, and 62,000 square feet of amenities and attractions. The
resort is expected to open in the summer of 2024. It will bring in more than 200
construction jobs, plus an additional 600 full-time and part-time jobs once open.
Investment Trends
The following CoStar data shows Collier County trends in the Multi-Family, Retail,
Office, and Industrial sectors as of the first quarter 2024.
According to the CoStar report, after a strong first quarter it appears that the macro-
conditions that have been impacting capital markets have finally caught up to Collier
County multifamily investment market. While roughly $191 million has traded over the
past year, $160 million occurred in the first quarter and activity has been declining since
then.
Private buyers have been the only active buyer-group year to date, up from roughly 50%
over the past five years. As investment volume has fallen over the past year so too has the
average price per unit. Pricing peaked here at roughly $312,000/unit in early 2022 and
has dropped to $290,000 as of the first quarter of 2023, a trend that is anticipated to
continue over the coming quarters.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
Page 21
According to the CoStar Report, nearly $318 million of retail space has traded in the past
12 months. The price per SF has stalled somewhat in recent quarters, however at
$340/SF, it is still significantly higher than the national average of $250/SF and is one of
the most expensive retail markets to in invest in in Florida.
Retail investment activity soared in the final quarter of 2023 on a massive multi-property
portfolio. Colorado-based M Development purchased 27 office and retail buildings as
well as a parcel for land for nearly $190 million, one of the largest transactions in Naples
history.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
Page 22
According to the CoStar Report, office investment has reached a five-year low in Collier
County, with just $75.7 million trading in the past 12 months.
Private buyers are the dominate player in the Collier County office investment market
accounting for 80% of buyers over the past five years and are particularly active in the
sub-$5 million price point.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
Page 23
According to the CoStar report, industrial investor interest picked up in 2021 through
mid-2022 when interest rates were near all-time lows and investors were flocking to the
Florida market. Investment volumes have declined in 2023, with just $108 million trading
over the trailing 12-month period. In comparison, 2021 was a record year for the region
with over $140 million in annual sales volume. However, while 2023 levels were off
from the previous peak, they were well above pre-pandemic levels when the region only
surpassed $60 million in annual sales once.
Sale pricing has largely plateaued over the past year, hovering around $171/SF as of the
fourth quarter of 2024. Naples is one of the most expensive industrial markets to invest in
Southwest Florida, roughly 40% more expensive than Sarasota.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
Page 24
Institutional capital has never played a major role, with private investors and owner-users
accounting for roughly 95% of buyers of the past five years. That trend shifted in 2023,
with institutional buyers capturing nearly 15% of the buyer market share.
Income
Personal income is a significant factor in determining the real estate demand in a given
market. The following table shows Collier County households by income from the
CCIM Site to do Business. Overall, Collier County has an average household income of
$128,096 and a per capita income of $54,169.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
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Conclusion
The long term economic outlook for Collier County is positive. The area lures people
from all over the country for tourism as well as retirement, with the beaches and weather
considered major demand drivers.
The projected growth in population and employment provide an economic base that
supports demand for real estate in the subject neighborhood and for the subject property.
These conditions have resulted in increasing property values and should stimulate
continued increases within the foreseeable future. Prior to the coronavirus pandemic, the
residential market had stabilized after several years of an expansion period, with
sustained growth in demand and increasing construction. Since the coronavirus
pandemic, residential demand increased significantly with record sales in 2020 and
continued high demand but limited inventory in 2021 and 2022. Inventory increased in
2023 as demand declined due to continued increases in interest rates. New home builders
continue to face shortages with a lack of building supplies creating a backlog of newly
constructed homes. Prices continue to increase; however, the rate of increase is declining.
According to the Naples Area Board of Realtors (NABOR), there was a record $18.2
billion in sales in Collier County during 2020. Demand eclipsed all expectations in 2021
with a 25.8% increase in overall sales in 2021 and a 20.3% increase in median closed
price (year over year). The November 2023 Market Report released by NABOR shows
inventory of homes in Naples increased 38.8% from November 2022. The report also
showed 1,080 price decreases, the highest in six months. Price deceleration may be
happening in parts of Naples as the medical overall closed price dropped to $580,000
from $600,000 (November 2022).
Generally, the commercial market lags the residential market. The significant residential
demand since the pandemic has generally stabilized the commercial market overall with
an increased demand for the industrial sector and select retail and office properties.
Finally, it is noted that Hurricane Ian, a Category 4 storm, made landfall in Southwest
Florida on September 28, 2022, and caused widespread wind and storm surge damage.
The analyses and value opinion(s) in this appraisal are based on the data available to the
appraiser at the time of the assignment and apply only as of the effective date indicated.
No analyses or opinions contained in this appraisal should be construed as predictions of
future market conditions or value(s).
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY COLLIER COUNTY AREA ANALYSIS
Page 26
Collier County Area Map
Subject
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 27
PROPERTY DESCRIPTION AND ANALYSIS
SITE ANALYSIS
The following description is based on our property inspection and public records.
The Dr. Robert H. Gore III Preserve target area contains 147 parcels remaining to be
acquired totaling 377.17 acres within Golden Gate Estates Units 91, 91A, 92, and 92A. The
parcel sizes to be acquired range from 1.14 to 7.17 acres in size.
SITE
Location: Dr. Robert H. Gore III Preserve is located east and west of Desoto
Boulevard between 36th Avenue SE and I-75. It is surrounded
mostly by undeveloped Estates residential land and some developed
single-family homes.
Current Use of the Property: Vacant wetlands with some single-family development.
Shape: Each parcel is rectangular in shape.
Road Frontage/Access:
Access to targeted parcels within the Panther Walk is provided by:
• 36th Ave SE; 38th Ave SE; 40th Ave SE; and 42nd Ave SE: All
arterials run east/west through market area. 36th Avenue SE is
unpaved west of Desoto Blvd S. and paved east of Desoto Blvd
S. 38th Ave SE is paved both east and west of Desoto Blvd S.
40th Ave SE is paved west of Desoto Blvd S and unpaved east of
Desoto Blvd S. 42nd Ave SE is only a ROW and is overgrown
both east and west of Desoto Blvd S.
• The parcels each have 75 - 375 feet of frontage.
The parcels are generally 660 feet deep. Parcels along 42nd Ave SE
are 925 feet deep. Parcels along Desoto Blvd S are 680 feet deep.
Topography: According to the FDEP Standard Map, the Dr. Robert H. Gore III
Preserve Project Area consists mainly of Freshwater Forested/Shrub
Wetlands. According to the Conservation Collier Property Summary,
the Preserve is within a historic wetland that connects with the
Florida Panther National Wildlife Refuge (FPNWR) to the east,
however it is separated by Desoto and the Test Track. According to
Collier County FDEP Informal Wetland Determinations map, the Dr.
Robert H. Gore III Preserve Project Area consists mainly of
Depressional or Slough Hydric Soils. Several parcels have been
identified to indicate wetlands and will require permits prior to
development.
Soil Conditions: According to the Conservation Collier Property Summary, hydric
soils exist; wetland indicators noted and numerous wetland
dependent plants species noted; very minimal mapped aquifer
recharge.
Market Area Gross Land Area
(Acres)
Typical Parcel Size
(Acres)Zoning FDEP Standard Map
Dr. Robert H. Gore III Preserve Area 377.17 1.14 – 7.17 E - Estates Freshwater forested/shrub wetlands
Market Area
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 28
Utilities:
Electricity: FP&L
Sewer: None; Private septic systems service homes in the area
Water: None; Private wells service homes in the area
Environmental Issues: According to the Conservation Collier Property Summary Initial
Exotic Removal estimated at $500/acre and ongoing annual
estimated at $250/acre. These parcels would be managed along with
the existing preserve parcels.
Encumbrance / Easements: A current title report was not provided for the purpose of this
appraisal. We are not aware of any easement, restrictions, or
encumbrances that would adversely affect value. Therefore, our
valuation assumes the subject has a clear and marketable title with
no adverse easement, restrictions, or encumbrances.
Site Comments: The 147 targeted parcels range from 1.14 acres to 7.17 acres with an
average of 2.57 acres. There are 113 'Small' parcels ranging from
1.14 acres to 2.73 acres with an average of 1.93 acres. There are 12
'Medium' parcels ranging from 2.81 acres to 3.82 acres with an
average of 3.03 acres and 22 'Large' parcels ranging from 4.12 acres
to 7.17 acres with an average of 5.60 acres.
ZONING
Zoning Code E
Zoning Authority Collier County
Zoning Description Estates
Permitted Uses Includes single-family dwellings, family care facilities
(subject to section 5.05.04), essential services (as set forth
in section 2.01.03), and schools, public, including
educational plants.
Minimum Lot Area (SF) 2.25 acres
Minimum Floor Area (SF) 1,000
Minimum Street Frontage (Feet) 150
Front Set Back Distance (Feet) 75
Rear Set Back Distance (Feet) 75
Side Yard Distance (Feet) 30 feet; 37.5 feet for corner lots along longest side
Maximum Density/FAR One dwelling units per 2.25 acres
Maximum Building Height (Feet) 30
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 29
Dr. Robert H. Gore III Preserve Area Market Study Aerial
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 30
Site Photographs
36th Ave SE – West of Desoto Blvd S
(Photo Taken on February 24, 2024)
Typical Parcel View along 36th Ave SE – West of Desoto Blvd S
(Photo Taken on February 24, 2024)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 31
Site Photographs
38th Ave SE – West of Desoto Blvd S
(Photo Taken on February 24, 2024)
Typical Parcel View from 38th Ave SE – West of Desoto Blvd S
(Photo Taken on February 24, 2024)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 32
Site Photographs
40th Ave SE – West of Desoto Blvd S
(Photo Taken on February 24, 2024)
Typical Parcel View from 40th Ave SE – West of Desoto Blvd S
(Photo Taken on February 24, 2024)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 33
Site Photographs
Typical Canal view West of Desoto Blvd S
(Photo Taken on February 24, 2024)
Typical Canal view West of Desoto Blvd S
(Photo Taken on February 24, 2024)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 34
Site Photographs
42nd Ave SE – West of Desoto Blvd S
(Photo Taken on February 24, 2024)
Typical Parcel View from 42nd Ave SE – West of Desoto Blvd S
(Photo Taken on February 24, 2024)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 35
Site Photographs
42nd Ave SE – East of Desoto Blvd S
(Photo Taken on February 24, 2024)
Typical Parcel View from 42nd Ave SE – East of Desoto Blvd S
(Photo Taken on February 24, 2024)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 36
Site Photographs
40th Ave SE – East of Desoto Blvd S
(Photo Taken on February 24, 2024)
Typical Parcel View from 40th Ave SE – East of Desoto Blvd S
(Photo Taken on February 24, 2024)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 37
Site Photographs
38th Ave SE – East of Desoto Blvd S
(Photo Taken on February 24, 2024)
Typical Parcel View from 38th Ave SE – East of Desoto Blvd S
(Photo Taken on February 24, 2024)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 38
Site Photographs
36th Ave SE – East of Desoto Blvd S
(Photo Taken on February 24, 2024)
Typical Parcel View from 36th Ave SE – East of Desoto Blvd S
(Photo Taken on February 24, 2024)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SITE ANALYSIS
Page 39
Site Photographs
Desoto Blvd S – Northerly
(Photo Taken on February 24, 2024)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY HIGHEST AND BEST USE
Page 40
HIGHEST AND BEST USE
Highest and best use may be defined as:
The reasonably probable use of property that results in the highest value. The four
criteria the highest and best use must meet are legal permissibility, physical
possibility, financial feasibility, and maximum productivity. 1
▪ Physically possible for the land to accommodate the size and shape of the
ideal improvement.
▪ Legally permissible under the zoning regulations, building codes,
environmental regulations, and other restrictions that apply to the site. A
property use that is either currently allowed or most probably allowable.
▪ Financially feasible to generate sufficient income to support the use.
▪ Maximally productive, or capable of producing the highest value from
among the permissible, possible, and financially feasible uses.
Highest and Best Use As Vacant
Physically Possible
The subject consists of parcels ranging in size from 1.14 to 7.17 acres located within the
previously defined Dr. Robert H. Gore III Preserve area. Access through Dr. Robert H.
Gore III Preserve is provided by paved (Desoto Blvd S, 36th Ave SE – east of Desoto,
38th Ave SE, 40th Ave SE – west of Desoto) and unpaved roads (36th Ave SE – west of
Desoto and 40th Ave SE – east of Desoto). 42nd Avenue SE is only a ROW and is
overgrown both east and west of Desoto Blvd. The parcels range in width from 75 feet to
375 feet and are generally 660 feet of depth. Parcels along 42nd Ave SE are 925 feet deep
and parcels along Desoto Blvd are 680 feet deep. The physical characteristics of the
parcels should reasonably accommodate any use that is not restricted by its size.
However, development on the parcels may be limited due to wetland coverage.
Legally Permissible
The subject parcels are zoned Estates (E), which allows low density residential with
limited agricultural uses. Parcels with impacted wetlands will require permits from FDEP
prior to development.
Financially Feasible
Financial feasibility is an analysis of the ability of a property to generate sufficient
income to support the use, or a reasonable probability of producing a positive income
stream net of operating expenses, financial costs, and capital amortization.
The projected growth in population and employment provide an economic base that
supports demand for real estate in the subject neighborhood and for the subject property.
These conditions have resulted in increasing property values and should stimulate
1 The Dictionary of Real Estate Appraisal 7th ed. (Chicago: Appraisal Institute, 2022)
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY HIGHEST AND BEST USE
Page 41
continued increases within the foreseeable future. Prior to the coronavirus pandemic, the
residential market had stabilized after several years of an expansion period, with
sustained growth in demand and increasing construction. Since the coronavirus
pandemic, residential demand increased significantly with record sales in 2020 and
continued high demand but limited inventory in 2021 and 2022. Inventory increased in
2023 as demand declined due to continued increases in interest rates. Prices continue to
increase; however, the rate of increase is declining.
On this basis, barring unforeseen changes in the market, a well-designed single-family
home that is appropriately marketed and priced, should be received favorably by the
market.
It is noted, the substantial costs associated with permitting and fill typically result in a
lower price per acre for wetland parcels than upland parcels in order to make
development financially feasible. If the costs make development financially unfeasible or
permitting is not achievable; conservation use becomes the only financially feasible use.
Maximally Productive
The maximally productive land use yields the highest value of the possible uses.
Conservation and/or single-family development is the only use that meets the tests of
physically possible, legally permissible, and financially feasible.
The permitting process for parcels with significant coverage of active wetlands will likely
be very difficult, if not impossible.
Therefore, conservation and/or single-family development is concluded to be the
maximally productive and highest and best use of the site.
Highest and Best Use as Improved
No improvements are situated on the site. Therefore, a highest and best analysis as
improved is not applicable.
Most Probable Buyer
Considering the size and location of the property, the most probable buyer of an
individual parcel is an owner-user or builder for single-family development or wetland
mitigation. Conservation Collier is also a probable buyer as a multi-parcel conservation
project.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY VALUATION METHODOLOGY
Page 42
VALUATION METHODOLOGY
Three basic approaches may be used to arrive at an estimate of market value. They are:
1. The Cost Approach
2. The Sales Comparison Approach
3. The Income Approach
Cost Approach
The Cost Approach estimates the current cost to construct the existing structure including
an entrepreneurial incentive, depreciation, and the estimated land value. This approach is
particularly applicable when the improvements represent the highest and best use of the
land and are relatively new. It is also applicable when the property has unique or
specialized improvements for which there is little or no sales data from comparable
properties.
Sales Comparison Approach
The Sales Comparison Approach compares sales of similar properties with the subject
property. Each comparable sale is adjusted for its inferior or superior characteristics. The
values derived from the adjusted comparable sales form a range of value for the subject.
By process of correlation and analysis, a final indicated value is derived. This approach is
most reliable in an active market, and is least reliable when valuing a property for which
no direct comparable sales data is available.
Income Approach
The Income Approach converts the anticipated flow of future benefits (cash flows and
reversion) to a present value estimate through a capitalization and or a discounting
process. This approach generally reflects a typical investor’s perception of the
relationship between the potential income of a property and its market value.
Final Reconciliation
The appraisal process concludes with the Final Reconciliation of the values derived from
the approaches applied for a single estimate of market value. The reconciliation of the
approaches is based on an evaluation of the quantity and quality of the available data in
each approach. Furthermore, different properties require different means of analysis and
lend themselves to one approach over the others.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY VALUATION METHODOLOGY
Page 43
ANALYSES APPLIED
A cost analysis was considered and was not developed because there are no
improvements that contribute value to the property.
A sales comparison analysis was considered and was developed because typically this is
the most appropriate approach for the valuation of vacant land. This approach is
applicable to the subject because there is an active market for similar properties and
sufficient sales data is available for analysis.
An income analysis was considered and was not developed because the subject is not
likely to generate rental income as vacant land.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SALES COMPARISON APPROACH: 1.14-2.73 ACRES
Page 44
SALES COMPARISON APPROACH: 1.14-2.73 ACRES
The Sales Comparison Approach is based on the premise that a buyer would pay no more
for a specific property than the cost of obtaining a property with the same quality, utility,
and perceived benefits of ownership. It is based on the principles of supply and demand,
balance, substitution and externalities. The following steps describe the applied process
of the Sales Comparison Approach.
• The market in which the subject property competes is investigated; comparable
sales, contracts for sale and current offerings are reviewed.
• The most pertinent data is further analyzed and the quality of the transaction is
determined.
• The most meaningful unit of value for the subject property is determined.
• Each comparable sale is analyzed and where appropriate, adjusted to equate with
the subject property.
• The value indication of each comparable sale is analyzed and the data reconciled
for a final indication of value via the Sales Comparison Approach.
Land Comparables
I have researched eight comparables for this analysis; these are documented on the
following pages followed by a location map and analysis grid. All sales have been
researched through numerous sources, inspected and verified by a party to the
transaction. For this analysis, we use the price per acre as the appropriate unit of
comparison because market participants typically compare sale prices and property
values on this basis.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SALES COMPARISON APPROACH: 1.14-2.73 ACRES
Page 45
Comparables Map
Comp Address Date Price
Comp City Acres Price Per Acre
Subject Generally within Golden Gate Estates
Units 91, 91A, 92, and 92A
2/24/2024
Subject Naples 1.14 - 2.73 acres
1 4430 34th AVE SE 1/5/2024 $60,000
1 Naples 2.73 $22,000
2 36th AVE SE, TR 5 1/2/2024 $57,000
2 Naples 2.50 $22,800
3 40th AVE SE, TR 97 1/29/2024 $53,000
3 Naples 2.73 $19,433
4 4385 36th AVE SE 10/11/2023 $44,500
4 Naples 2.27 $19,580
5 Desoto Blvd S 2/9/2024 $47,900
5 Naples 1.17 $40,912
6 4760 24th AVE SE Pending $53,500
6 Naples 1.59 $33,629
7 22nd AVE SE 10/23/2023 $135,000
7 Naples 2.50 $54,000
8 4332 28th AVE SE 6/21/2023 $70,000
8 Naples 1.14 $61,600
Heavily treed parcel located along south side of 36th Ave SE west of Desoto Blvd S.
No wetland determination on file. FDEP map shows parcel is freshwater forested/shrub
wetlands.
Heavily treed parcel located along south side of 34th Ave SE west of Desoto Blvd S.
No wetland determination on file. FDEP map shows parcel is freshwater forested/shrub
wetlands.
Heavily treed parcel located along south side of 28th Ave SE west of Desoto Blvd S.
Informal Wetland Determination dated 8/22/2018 shows the site is entirely uplands
with no wetlands.
Heavily treed parcel located along south side of 40th Ave SE east of Desoto Blvd S.
No wetland determination on file. FDEP map shows parcel is freshwater forested/shrub
wetlands.
Sale Comments
Heavily treed parcel located along north side of 36th Ave SE west of Desoto Blvd S.
No wetland determination on file. FDEP map shows parcel is freshwater forested/shrub
wetlands.
Heavily treed parcel located along the east of Desoto Blvd S. Informal Wetland
Determination dated 5/27/2020 shows 0.44 acres (38%) wetlands located in the front of
the site.
Heavily treed parcel located along north side of 22nd Ave SE east of Desoto Blvd S.
Informal Wetland Determination dated 7/29/21 shows the site is entirely uplands with
no wetlands.
Heavily treed parcel located along south side of 24th Ave SE east of Desoto Blvd S.
Informal Wetland Determination dated 12/12/22 shows 1.54 acres (97%) wetlands.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SALES COMPARISON APPROACH: 1.14-2.73 ACRES
Page 46
Comparables Map – Aerial
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SALES COMPARISON APPROACH: 1.14-2.73 ACRES
Page 47
Analysis Grid
The above sales have been analyzed and compared with the subject property. I have
considered adjustments in the areas of:
Effective Sale Price
This takes into consideration unusual conditions involved in the
sale that could affect the sales price, such as excess land, non-
realty components, commissions, or other similar factors.
Usually the sale price is adjusted for this prior to comparison to
the subject.
Real Property Rights Property rights dissimilar to the subject which affect value.
Financing Terms
Favorable or unfavorable seller financing, or assumption of
existing financing.
Conditions of Sale
Circumstances that atypically motivate the buyer or seller, such
as 1031 exchange transaction, assemblage, or forced sale.
Market Conditions Inflation or deflation since sale date due to economic influences
Location Market or submarket area influences on sale price; surrounding
land use influences.
Physical Characteristics Attributes such as size, shape, utilities, frontage, zoning, etc.
On the following page is a sales comparison grid displaying the subject property, the
comparables and the adjustments applied.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SALES COMPARISON APPROACH: 1.14-2.73 ACRES
Page 48
Name
Address
City
Date
Price
Acres
Acre Unit Price
Property Rights Fee Simple 0.0%Fee
Simple 0.0%Fee Simple 0.0%Fee Simple 0.0%Fee Simple 0.0%Fee Simple 0.0%Fee
Simple 0.0%Fee Simple 0.0%
Financing Cash 0.0%Cash 0.0%Cash 0.0%Cash 0.0%Cash 0.0%Pending 0.0%Cash 0.0%Cash 0.0%
Conditions of Sale
Arm's
length 0.0%
Arm's
length 0.0%
Arm's
length 0.0%
Arm's
length 0.0%Arm's Length 0.0%Pending -5.0%
Arm's
length 0.0%
Arm's
length 0.0%
Market Trends Through 2/24/2024 10.0%
Location
% Adjustment
$ Adjustment
Acres
% Adjustment
$ Adjustment
Environmental Issues
% Adjustment
$ Adjustment
Topography
% Adjustment
$ Adjustment
Zoning
% Adjustment
$ Adjustment
Net Adjustments
Gross Adjustments 10.0%10.0%10.0%10.0%
$0
0%
$0
-10%
$0
0%
$0
$0
100% Uplands
1/2/20242/24/2024 1/5/2024
$57,000
0.0%
0%
$20,288
0%
$0
Heavily Treed
E-Estates
$0
E-Estates
0%
$0
E-Estates
0%
0%
Heavily Treed
$0
0%
38% Wetlands (Front)
Heavily TreedHeavily Treed
$40,912
Superior
$40,912
$19,580
1.17
-10%
$41,073
Superior
-10%
0%
-$4,107
$54,000
0%
0%
22nd AVE SE, TR
116
22nd AVE SE
$31,947
1.17
$33,629
1.59
0.4%
2/9/2024
Desoto Blvd S
Comp 6
$55,777
0.0%
Comp 7
2.50
Naples
$53,500
$54,000
3.3%
$135,000
Naples
2.27
FDEP - freshwater
forested/shrub
wetlands
4760 24th AVE SE
E-Estates
10/23/2023
-$5,578
4760 24th AVE SE4385 36th AVE SE
$19,580
Pending
$31,947
3.6%
$47,900
Desoto Blvd S
$44,500
Naples
10/11/2023
0%
FDEP - freshwater
forested/shrub
wetlands
0%
$0
0%
Naples
2.27
Similar
$0
0%
$0
FDEP - freshwater
forested/shrub
wetlands
$0
$0
Heavily Treed
$0
0%0%0%
Comp 3
Similar
0%
FDEP - freshwater
forested/shrub
wetlands
$0
$0
E-Estates
0%
E-Estates
$0
$0
E-Estates
$19,566
2.73
0%
$22,800
Dr. Robert H. Gore III
Preserve Area Market Study
Land Analysis Grid Comp 1 Comp 4
4385 36th AVE SE
Comp 5
40th AVE SE, TR 97
Naples
4430 34th AVE SE 36th AVE SE, TR 5
4430 34th AVE SE
Comp 2
Naples
Generally within Golden Gate
Estates Units 91, 91A, 92,
and 92A
36th AVE SE, TR 5
NaplesNaples
$19,433
2.73
40th AVE SE, TR 97
2.73
1/29/2024
$53,000$60,000
1.14 - 2.73 acres
$22,000
2.50
$22,800
Fee Simple
Transaction Adjustments
Adjusted Acre Unit Price $22,000 $19,433
1.14 - 2.73 acres
$0
0%
1.3%
$0
2.73
0%
Similar
1.4%
$23,118
0%
Adjusted Acre Unit Price $22,289
Average Similar
FDEP - freshwater
forested/shrub wetlands
2.50
$0
$0
Heavily Treed Heavily Treed
0%
$0
Heavily Treed
E-Estates
$0
0%
$0
Adjusted Acre Unit Price
0.0%0.0%
0.0%0.0%
0.0%
$0 $0 $0$0
-$3,195
1.59
0%
0%
$0
0%
0%
0%
2.50
97% Wetlands
$0
0%
$0
Heavily Treed
0%
$0
E-Estates
0%
$0
-$6,572
100% Uplands
$0
1.14
-10%
$61,600
$61,600
6.7%
6/21/2023
Superior
$70,000
Naples
Comp 8
4332 28th AVE SE
0.7%
1.14
4332 28th AVE SE
0%0%
Superior
$65,721
-10.0%
$59,149
-10.0%
$22,289 $28,752$20,288
-10.0%
$19,566$23,118
0.0%
0.0%
-10.0%
$36,965 $50,199
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SALES COMPARISON APPROACH: 1.14-2.73 ACRES
Page 49
Comparable Land Sale Adjustments
Property Rights
All of the comparables transferred in fee simple interest; therefore, no adjustments for
property rights are required.
Financing
All of the comparable sales had market orientated financing or were cash transactions;
therefore, no adjustments for financing are required.
Conditions of Sale
Comparable 6 is a pending sale. The price shown in the grid is the asking price as the
pending contract price is confidential. It is adjusted downward based on typical list to
selling price ratios.
Economic Trends
The following graph shows comparable residential land sales on the Southwest Florida
MLS within the surrounding market area over the last year.
The survey included 74 transactions. Prices ranged from $12,930 to $87,719 per acre and
averaged $39,746 per acre. The graph indicates a decreasing trend in sales prices from
February 2023 through the current date. However, it is noted this is unadjusted raw data
and does not account for adjustments due to location, size, or wetland coverage.
I also consider Comparable 3 was purchased in January 2023 for $35,000 and resold in
January 2024 for $53,000, an annualized increase of 51%.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SALES COMPARISON APPROACH: 1.14-2.73 ACRES
Page 50
Finally, I consider the lowest asking prices in the subject area for parcels less than 2.73
acres range from $29,060 to $30,793 per acre.
Based on the previous analysis and considering the current asking prices, I have applied a
10.0% annual adjustment.
Location
Comparables 2, 3, and 4 are located within the Dr. Robert H. Gore III Preserve Area.
Comparable 1 is located along 34th Ave SE, one block north of the Preserve Area. They
are all similar in location. Comparables 5, 6, 7, and 8 are located north of the Preserve
Area, closer to Golden Gate Boulevard and areas with more single-family homes. They
are adjusted downward for their superior locations accordingly.
Size
For this analysis, all of the comparable sales are relatively similar in terms of size;
therefore, no adjustments are required.
Environmental Issues
The subject parcels and Comparables 1, 2, 3, and 4 consist mainly of Freshwater
Forested/Shrub Wetlands according to the FDEP Standard Map.
Comparable 5 had an Informal Wetland Determination dated May 2020 showing the
parcel has 0.44 acres (38%) wetlands in the front of the site.
Comparable 6 had an Informal Wetland Determination dated December 2022 showing
the parcel has 1.54 acres (97%) wetlands.
Comparables 7 and 8 had Informal Wetland Determinations showing the parcels are
entirely uplands with no wetlands.
No adjustments are made in the grid; however, the varying wetland coverage is
considered in the final reconciliation.
Topography
The subject parcels are heavily treed similar to all of the comparables. Therefore, no
adjustments are required.
Zoning
All of the comparables are similar in terms of zoning; therefore, no adjustments are
required.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY SALES COMPARISON APPROACH: 1.14-2.73 ACRES
Page 51
Sales Comparison Approach Conclusion: 1.14 – 2.73 Acre Parcels
Finally, I consider the lowest asking prices in the subject area for parcels less than 2.73
acres range from $29,060 to $30,793 per acre.
All of the value indications have been considered. The “Small” parcels to be acquired
range from 1.14 acres to 2.73 acres with an average of 1.93 acres.
Based on the preceding analysis, I arrive at my final reconciled per acre value for each
tier as shown in the following table.
8 % Δ
0.68%
-3.98%
-4.97%
Land Value Ranges & Reconciled Values
Low:
25 - 50% Wetlands:
50 - 75% Wetlands:
Up to 25% Wetlands:$43,000
1.14 - 2.73 acresSubject Size:
High:
Average:
75 - 100% Wetlands:
$35,000
Number of Comparables:Unadjusted Adjusted
$19,566
$59,149
$32,541
$61,600
$34,244
$19,433
Indicated Value per Acre
$30,000
$25,000
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDYSALES COMPARISON APPROACH: 2.74-7.17 ACRES
Page 52
SALES COMPARISON APPROACH: 2.74-7.17 ACRES
Land Comparables
I have researched eight comparables for this analysis; these are documented on the
following pages followed by a location map and analysis grid. All sales have been
researched through numerous sources, inspected and verified by a party to the
transaction. For this analysis, we use the price per acre as the appropriate unit of
comparison because market participants typically compare sale prices and property
values on this basis.
Comp Address Date Price
Comp City Acres Price Per Acre
Subject Generally within Golden Gate Estates
Units 91, 91A, 92, and 92A
2/24/2024
Subject Naples 2.74 -7.17 acres
1 40th AVE SE, TR 56 4/28/2023 $160,000
1 Naples 5.00 $32,000
2 40th AVE SE, TR 114 4/14/2023 $79,000
2 Naples 6.11 $12,938
3 3908 32nd AVE SE 3/17/2023 $265,000
3 Naples 5.68 $46,640
4 30th AVE SE, TR 4 2/6/2024 $115,000
4 Naples 5.00 $23,000
5 1521 Desoto BLVD S 1/12/2024 $92,500
5 Naples 2.81 $32,919
6 Desoto Blvd & 8th Ave SE 1/12/2024 $132,500
6 Naples 2.81 $47,154
7 4849 26th AVE SE 10/30/2023 $135,000
7 Naples 5.00 $27,000
8 34th AVE SE, TR 23 10/20/2023 $82,000
8 Naples 5.00 $16,400
Heavily treed parcel located along south side of 32nd Ave SE west of Desoto Blvd S
along a canal. Informal Wetland Determination dated 12/7/22 shows no wetlands.
Heavily treed parcel located along north side of 30th Ave SE west of Desoto Blvd S.
Informal Wetland Determination shows 4.56 acres (91%) wetlands.
Heavily treed parcel located along west side of Desoto Blvd S. No wetland
determination on file. FDEP map shows parcel is uplands.
Heavily treed parcel located at southeast corner of Desoto Blvd S and 8th Ave SE.
Informal Wetland Determination dated 9/28/2023 shows 1.16 acres (41%) wetlands
located in the rear of the site.
Heavily treed parcel located along north side of 26th Ave SE east of Desoto Blvd S.
Informal Wetland Determination shows approximately 50% wetlands in the rear of the
site.
Heavily treed parcel located along south side of 34th Ave SE west of Desoto Blvd S.
Informal Wetland Determination dated 6/12/2023 shows 3.50 acres (70%) wetlands
located throughout the site.
Sale Comments
Heavily treed parcel located along north side of 40th Ave SE east of Everglades Blvd
S. Informal Wetland Determination shows approximately 10% wetlands in the front
eastern corner and rear.
Heavily treed parcel located along north side of 40th Ave SE east of Desoto Blvd S.
No wetland determination on file. FDEP map shows parcel is freshwater forested/shrub
wetlands.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDYSALES COMPARISON APPROACH: 2.74-7.17 ACRES
Page 53
Comparables Map
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDYSALES COMPARISON APPROACH: 2.74-7.17 ACRES
Page 54
Comparables Map - Aerial
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDYSALES COMPARISON APPROACH: 2.74-7.17 ACRES
Page 55
Name
Address
City
Date
Price
Acres
Acre Unit Price
Property Rights Fee Simple 0.0%
Fee
Simple 0.0%Fee Simple 0.0%Fee Simple 0.0%Fee Simple 0.0%Fee Simple 0.0%
Fee
Simple 0.0%
Fee
Simple 0.0%
Financing Cash 0.0%Cash 0.0%Cash 0.0%Cash 0.0%Cash 0.0%Cash 0.0%Cash 0.0%Cash 0.0%
Conditions of Sale
Arm's
length 0.0%
Arm's
length 0.0%
Arm's
length 0.0%
Arm's
length 0.0%Arm's length 0.0%
Arm's
length 0.0%
Arm's
length 0.0%
Arm's
length 0.0%
Market Trends Through 2/24/2024 10.0%
Location
% Adjustment
$ Adjustment
Acres
% Adjustment
$ Adjustment
Environmental Issues
% Adjustment
$ Adjustment
Topography
% Adjustment
$ Adjustment
Zoning
% Adjustment
$ Adjustment
Net Adjustments
Gross Adjustments
Dr. Robert H. Gore III
Preserve Area Market Study
40th AVE SE, TR 56 40th AVE SE, TR 114 3908 32nd AVE SE 30th AVE SE, TR 4 1521 Desoto BLVD S Desoto Blvd & 8th
Ave SE
4849 26th AVE SE 34th AVE SE, TR
23
Comp 5 Comp 6 Comp 7 Comp 8Land Analysis Grid Comp 1 Comp 2 Comp 3 Comp 4
2/24/2024 4/28/2023 4/14/2023 3/17/2023 2/6/2024 1/12/2024 1/12/2024 10/30/2023
$135,000
34th AVE SE, TR
23
Naples Naples Naples Naples Naples Naples Naples
Generally within Golden Gate
Estates Units 91, 91A, 92, and
92A
40th AVE SE, TR 56 40th AVE SE, TR 114 3908 32nd AVE SE 30th AVE SE, TR 4 1521 Desoto BLVD S Desoto Blvd & 8th
Ave SE
4849 26th AVE SE
10/20/2023
Naples Naples
$160,000 $79,000 $265,000 $115,000 $132,500 $82,000$92,500
2.74 -7.17 acres 5.00 6.11 5.68 5.00 2.81 2.81 5.00 5.00
$47,154 $27,000 $16,400
Transaction Adjustments
$32,000 $12,938 $46,640 $23,000 $32,919
Fee Simple
Adjusted Acre Unit Price $32,000 $12,938 $46,640 $23,000 $32,919
8.2%8.6%9.4%0.5%1.1%
$47,154 $27,000 $16,400
1.1%3.1%3.4%
Average Superior Similar Similar Similar
Adjusted Acre Unit Price $34,626 $14,051 $51,023 $23,108 $33,291
Superior Superior Superior
-15%
Similar
$47,687 $27,838 $16,953
-20%-10%0%
-$5,194 $0 $0 $0 -$4,994
-15%0%0%0%
-$9,537 -$2,784 $0
0%0%0%0%
2.74 -7.17 acres 5.00 6.11 5.68 5.00
0%0%0%0%
2.81 5.00 5.002.81
$0 $0 $0$0 $0 $0 $0 $0
FDEP - freshwater
forested/shrub wetlands
10% Wetlands
(Front and Rear)
FDEP - freshwater
forested/shrub
wetlands
100% Uplands 91% Wetlands 100% Uplands 41% Wetlands
(Rear)
50% Wetlands
(Rear)
70% Wetlands
$0 $0 $0 $0
0%0%0%0%
$0 $0 $0 $0
0%0%0%0%
0%0%-10%0%
Heavily Treed Heavily Treed Heavily Treed Heavily Treed;
Brazilian Pepper
Removed
Heavily Treed Heavily Treed
0%0%0%
$0
0%
Heavily Treed Heavily Treed Heavily Treed
E-Estates E-Estates E-Estates E-Estates E-Estates
$0 $0 $0
E-Estates E-Estates E-Estates E-Estates
$0 $0 -$5,102 $0
0%0%0%0%0%0%0%0%
$0 $0 $0 $0 $0 $0 $0 $0
Adjusted Acre Unit Price $29,432 $14,051 $45,921 $23,108 $28,297 $38,149 $25,054 $16,953
-20.0%-10.0%0.0%
15.0%0.0%10.0%0.0%15.0%
-15.0%0.0%-10.0%0.0%-15.0%
20.0%10.0%0.0%
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDYSALES COMPARISON APPROACH: 2.74-7.17 ACRES
Page 56
Comparable Land Sale Adjustments
Property Rights
All of the comparables transferred in fee simple interest; therefore, no adjustments for
property rights are required.
Financing
All of the comparable sales had market orientated financing or were cash transactions;
therefore, no adjustments for financing are required.
Conditions of Sale
All of the comparables were arm’s length transactions; therefore, no adjustments for
conditions of sale are required.
Economic Trends
As in the previous analysis, we have applied a 10.0% annual adjustment.
Location
Comparable 2 is located within the Dr. Robert H. Gore III Preserve Area. Comparables 4
and 8 are located just north of the Preserve Area. Comparable 3 is also located just north
of the Preserve Area, with canal frontage similar to some of the targeted parcels. No
adjustments are required for Comparables 2, 3, 4, and 8.
Comparables 5, 6, and 7 are located north of the Preserve Area, closer to Golden Gate
Boulevard and areas with more single-family homes. They are adjusted downward for
their superior locations accordingly.
Comparable 1 is located west of the Dr. Robert H. Gore III Preserve Area and is accessed
from Everglades Boulevard. It has superior access and is adjusted downward accordingly.
Size
The “Medium” parcels range from 2.74 to 4.00 acres in size and the “Large” parcels
range from 4.01 to 7.17 acres in size. Size and price per acre are typically inversely
related. Comparables 5 and 6 are at the low end of the range for the “Medium” parcels.
Comparables 1, 2, 3, 4, 7 and 8 are generally in the middle of the range for the “Large”
parcels. No adjustments are applied; however, the differing sizes are considered in the
final reconciliation.
Environmental Issues
The subject parcels and Comparable 2 consist mainly of Freshwater Forested/Shrub
Wetlands according to the FDEP Standard Map.
Comparables 1, 3, 4, 6, 7, and 8 all had Informal Wetland Determinations showing
varying amounts of wetlands and no wetlands for Comparable 3. The FDEP Standard
Map shows Comparable 5 is 100% uplands.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDYSALES COMPARISON APPROACH: 2.74-7.17 ACRES
Page 57
No adjustments are made in the grid; however, the varying wetland coverage is
considered in the final reconciliation.
Topography
The subject parcels are heavily treed similar to all of the comparables. The Brazilian
Pepper had been removed from Comparable 3. It is adjusted downward accordingly.
Zoning
All of the comparables are similar in terms of zoning; therefore, no adjustments are
required.
Sales Comparison Approach Conclusion: 2.74 – 5.0 Acre Parcels
Finally, I consider the lowest asking price in the subject area for a 2.7 acre parcel is
$27,741 per acre. The parcel has been on the market for approximately two years and the
listing comments say, “make offer.” Additionally, there are two five-acre parcels listed
for $98,900 and $99,750 or $19,780 and $19,950 per acre each. Both have 95%+ wetland
coverage according to Informal Wetland Determinations.
All of the value indications have been considered. The “Medium” parcels to be acquired
range from 2.81 acres to 3.82 acres with an average of 3.03 acres. The “Large” parcels to
be acquired range from 4.12 acres to 7.17 acres with an average of 5.60 acres.
Based on the preceding analysis, I arrive at my final reconciled per acre value for each
tier as shown in the following table.
8 % Δ
8.60%
-2.62%
-7.18%
Land Value Ranges & Reconciled Values
Number of Comparables:Unadjusted Adjusted
Low:$12,938 $14,051
High:$47,154 $45,921
25 - 50% Wetlands:$31,500
50 - 75% Wetlands:$26,500
75 - 100% Wetlands:$21,500
Average:$29,756 $27,621
Indicated Value per Acre
Up to 25% Wetlands:$41,500 $39,500
$33,500
$28,500
$23,500
Subject Size:2.74 - 4.00 acres 4.01 - 7.17 acres
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY RECONCILIATION
Page 58
RECONCILIATION
The process of reconciliation involves the analysis of each approach to value. The
quantity and quality of data applied the significance of each approach as it relates to
market behavior and defensibility of each approach are considered and weighed. Finally,
each is considered separately and comparatively with each other. As discussed
previously, we use only the sales comparison approach in developing an opinion of value
for the subject. The cost and income approaches are not applicable, and are not used.
FINAL VALUE CONCLUSION
Based on the data and analyses developed in this appraisal, I have reconciled to the
following value conclusion(s), as of February 24, 2024, subject to the Limiting
Conditions and Assumptions of this appraisal.
VALUE CONCLUSIONS
Appraisal Premise Interest Appraised Date of Value
Market Value, As Is Fee Simple February 24, 2024
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions: None.
Extraordinary Assumptions: None.
Exposure and Marketing Times
Exposure time is always presumed to precede the effective date of the appraisal and is the
length of time the subject property would have been exposed for sale in the market had it
sold on the effective valuation date at the concluded market value. Marketing time is an
25 - 50% Wetlands:
50 - 75% Wetlands:
Up to 25% Wetlands:$43,000
1.14 - 2.73 acresSubject Size:
75 - 100% Wetlands:
$35,000
Indicated Value per Acre
$30,000
$25,000
25 - 50% Wetlands:$31,500
50 - 75% Wetlands:$26,500
75 - 100% Wetlands:$21,500
Indicated Value per Acre
Up to 25% Wetlands:$41,500 $39,500
$33,500
$28,500
$23,500
Subject Size:2.74 - 4.00 acres 4.01 - 7.17 acres
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY FINAL VALUE CONCLUSION
Page 59
estimate of the amount of time it might take to sell a property at the estimated market
value immediately following the effective date of value.
Based on our review of recent sales transactions for similar properties and our analysis of
supply and demand in the local market it is our opinion that the probable marketing and
exposure time for the property is 9-12 months.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY CERTIFICATION
Page 60
CERTIFICATION
I certify that, to the best of my knowledge and belief:
1. The statements of fact contained in this report are true and correct.
2. The reported analyses, opinions and conclusions are limited only by the reported
assumptions and limiting conditions, and are my personal, unbiased professional
analyses, opinions and conclusions.
3. I have no present or prospective interest in the property that is the subject of this
report, and have no personal interest with respect to the parties involved.
4. I have no bias with respect to the property that is the subject of this report or to the
parties involved with this assignment.
5. Our engagement in this assignment was not contingent upon developing or
reporting predetermined results.
6. Our compensation for completing this assignment is not contingent upon the
development or reporting of a predetermined value or direction in value that favors
the cause of the client, the amount of the value opinion, the attainment of a
stipulated result, or the occurrence of a subsequent event directly related to the
intended use of this appraisal.
7. The reported analyses, opinions, and conclusions were developed, and this report
has been prepared, in conformity with the requirements of the Code of Professional
Ethics & Standards of Professional Appraisal Practice of the Appraisal Institute.
8. My reported analyses, opinions, and conclusions were developed, and this report
has been prepared, in conformity with the Uniform Standards of Professional
Appraisal Practice
9. The use of this report is subject to the requirements of the Appraisal Institute
relating to review by its duly authorized representatives.
10. Rachel M. Zucchi, MAI, CCIM has made an inspection of the subject property.
11. No one provided significant real property appraisal assistance to the person signing
this certification.
12. We have experience in appraising properties similar to the subject and are in
compliance with the Competency Rule of USPAP.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY
Page 61
13. This appraisal is not based on a requested minimum valuation, a specific valuation,
or the approval of a loan.
14. We have not relied on unsupported conclusions relating to characteristics such as
race, color, religion, national origin, gender, marital status, familial status, age,
receipt of public assistance income, handicap, or an unsupported conclusion that
homogeneity of such characteristics is necessary to maximize value.
15. Rachel M. Zucchi, MAI, CCIM has not performed any services, as an appraiser or
in any other capacity, regarding the property that is the subject of this report within
the three-year period immediately preceding the agreement to perform this
assignment.
16. As of the date of this report, Rachel M. Zucchi, MAI, CCIM has completed the
continuing education program for Designated Members of the Appraisal Institute.
Rachel M. Zucchi, MAI, CCIM
Florida State-Certified General Real Estate Appraiser RZ2984
rzucchi@rklac.com; Phone 239-596-0801
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ASSUMPTIONS AND LIMITING CONDITIONS
Page 62
ASSUMPTIONS AND LIMITING CONDITIONS
This appraisal is based on the following assumptions, except as otherwise noted in the
report.
1. The title is marketable and free and clear of all liens, encumbrances,
encroachments, easements and restrictions. The property is under responsible
ownership and competent management and is available for its highest and best
use.
2. There are no existing judgments or pending or threatened litigation that could
affect the value of the property.
3. There are no hidden or undisclosed conditions of the land or of the improvements
that would render the property more or less valuable. Furthermore, there is no
asbestos in the property.
4. The revenue stamps placed on any deed referenced herein to indicate the sale
price are in correct relation to the actual dollar amount of the transaction.
5. The property is in compliance with all applicable building, environmental, zoning,
and other federal, state and local laws, regulations and codes.
6. The information furnished by others is believed to be reliable, but no warranty is
given for its accuracy.
This appraisal is subject to the following limiting conditions, except as otherwise
noted in the report.
1. An appraisal is inherently subjective and represents our opinion as to the value of
the property appraised.
2. The conclusions stated in our appraisal apply only as of the effective date of the
appraisal, and no representation is made as to the effect of subsequent events.
3. No changes in any federal, state or local laws, regulations or codes (including,
without limitation, the Internal Revenue Code) are anticipated.
4. No environmental impact studies were either requested or made in conjunction
with this appraisal, and we reserve the right to revise or rescind any of the value
opinions based upon any subsequent environmental impact studies. If any
environmental impact statement is required by law, the appraisal assumes that
such statement will be favorable and will be approved by the appropriate
regulatory bodies.
5. Unless otherwise agreed to in writing, we are not required to give testimony,
respond to any subpoena or attend any court, governmental or other hearing with
reference to the property without compensation relative to such additional
employment.
6. We have made no survey of the property and assume no responsibility in
connection with such matters. Any sketch or survey of the property included in
this report is for illustrative purposes only and should not be considered to be
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ASSUMPTIONS AND LIMITING CONDITIONS
Page 63
scaled accurately for size. The appraisal covers the property as described in this
report, and the areas and dimensions set forth are assumed to be correct.
7. No opinion is expressed as to the value of subsurface oil, gas or mineral rights, if
any, and we have assumed that the property is not subject to surface entry for the
exploration or removal of such materials, unless otherwise noted in our appraisal.
8. We accept no responsibility for considerations requiring expertise in other fields.
Such considerations include, but are not limited to, legal descriptions and other
legal matters such as legal title, geologic considerations such as soils and seismic
stability, and civil, mechanical, electrical, structural and other engineering and
environmental matters.
9. The distribution of the total valuation in the report between land and
improvements applies only under the reported highest and best use of the
property. The allocations of value for land and improvements must not be used in
conjunction with any other appraisal and are invalid if so used. The appraisal
report shall be considered only in its entirety. No part of the appraisal report shall
be utilized separately or out of context.
10. Neither all nor any part of the contents of this report (especially any conclusions
as to value, the identity of the appraisers, or any reference to the Appraisal
Institute) shall be disseminated through advertising media, public relations media,
news media or any other means of communication (including without limitation
prospectuses, private offering memoranda and other offering material provided to
prospective investors) without the prior written consent of the person signing the
report.
11. Information, estimates and opinions contained in the report, obtained from third-
party sources are assumed to be reliable and have not been independently verified.
12. Any income and expense estimates contained in the appraisal report are used only
for the purpose of estimating value and do not constitute predictions of future
operating results.
13. If the property is subject to one or more leases, any estimate of residual value
contained in the appraisal may be particularly affected by significant changes in
the condition of the economy, of the real estate industry, or of the appraised
property at the time these leases expire or otherwise terminate.
14. No consideration has been given to personal property located on the premises or
to the cost of moving or relocating such personal property; only the real property
has been considered.
15. The current purchasing power of the dollar is the basis for the value stated in our
appraisal; we have assumed that no extreme fluctuations in economic cycles will
occur.
16. The value found herein is subject to these and to any other assumptions or
conditions set forth in the body of this report but which may have been omitted
from this list of Assumptions and Limiting Conditions.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ASSUMPTIONS AND LIMITING CONDITIONS
Page 64
17. The analyses contained in the report necessarily incorporate numerous estimates
and assumptions regarding property performance, general and local business and
economic conditions, the absence of material changes in the competitive
environment and other matters. Some estimates or assumptions, however,
inevitably will not materialize, and unanticipated events and circumstances may
occur; therefore, actual results achieved during the period covered by our analysis
will vary from our estimates, and the variations may be material.
18. The Americans with Disabilities Act (ADA) became effective January 26, 1992.
We have not made a specific survey or analysis of any property to determine
whether the physical aspects of the improvements meet the ADA accessibility
guidelines. In as much as compliance matches each owner’s financial ability with
the cost to cure the non-conforming physical characteristics of a property, we
cannot comment on compliance to ADA. Given that compliance can change with
each owner’s financial ability to cure non-accessibility, the value of the subject
does not consider possible non-compliance. A specific study of both the owner’s
financial ability and the cost to cure any deficiencies would be needed for the
Department of Justice to determine compliance.
19. The appraisal report is prepared for the exclusive benefit of the Client, its
subsidiaries and/or affiliates. It may not be used or relied upon by any other party.
All parties who use or rely upon any information in the report without our written
consent do so at their own risk.
20. No studies have been provided to us indicating the presence or absence of
hazardous materials on the subject property or in the improvements, and our
valuation is predicated upon the assumption that the subject property is free and
clear of any environment hazards including, without limitation, hazardous wastes,
toxic substances and mold. No representations or warranties are made regarding
the environmental condition of the subject property and the person signing the
report shall not be responsible for any such environmental conditions that do exist
or for any engineering or testing that might be required to discover whether such
conditions exist. Because we are not experts in the field of environmental
conditions, the appraisal report cannot be considered as an environmental
assessment of the subject property.
21. The person signing the report may have reviewed available flood maps and may
have noted in the appraisal report whether the subject property is located in an
identified Special Flood Hazard Area. We are not qualified to detect such areas
and therefore do not guarantee such determinations. The presence of flood plain
areas and/or wetlands may affect the value of the property, and the value
conclusion is predicated on the assumption that wetlands are non-existent or
minimal.
22. RKL Appraisal and Consulting, PLC is not a building or environmental inspector.
RKL Appraisal and Consulting, PLC does not guarantee that the subject property
is free of defects or environmental problems. Mold may be present in the subject
property and a professional inspection is recommended.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ASSUMPTIONS AND LIMITING CONDITIONS
Page 65
23. The appraisal report and value conclusion for an appraisal assumes the
satisfactory completion of construction, repairs or alterations in a workmanlike
manner.
24. The intended use of the appraisal is stated in the General Information section of
the report. The use of the appraisal report by anyone other than the Client is
prohibited except as otherwise provided. Accordingly, the appraisal report is
addressed to and shall be solely for the Client’s use and benefit unless we provide
our prior written consent. We expressly reserve the unrestricted right to withhold
our consent to your disclosure of the appraisal report (or any part thereof
including, without limitation, conclusions of value and our identity), to any third
parties. Stated again for clarification, unless our prior written consent is obtained,
no third party may rely on the appraisal report (even if their reliance was
foreseeable).
25. All prospective value estimates presented in this report are estimates and forecasts
which are prospective in nature and are subject to considerable risk and
uncertainty. In addition to the contingencies noted in the preceding paragraph,
several events may occur that could substantially alter the outcome of our
estimates such as, but not limited to changes in the economy, interest rates, and
capitalization rates, behavior of consumers, investors and lenders, fire and other
physical destruction, changes in title or conveyances of easements and deed
restrictions, etc. It is assumed that conditions reasonably foreseeable at the present
time are consistent or similar with the future.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDA - APPRAISER QUALIFICATIONS
ADDENDA
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM A - APPRAISER QUALIFICATIONS
ADDENDUM A
APPRAISER QUALIFICATIONS
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM A - APPRAISER QUALIFICATIONS
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
RKL Appraisal and Consulting, PLC
COMPANY PROFILE:
RKL Appraisal and Consulting, PLC was founded in 2009 by three designated Members
of the Appraisal Institute. It is our mission to maximize our combined appraisal
experience to provide our clients with the highest quality of Real Estate Appraisal and
Consulting Services.
Rachel M. Zucchi, MAI, CCIM K.C. Lowry, MAI, CPA Louis C. Bobbitt, MAI
Partner / Managing Director Partner Senior Partner (Retired)
rzucchi@rklac.com klowry@rklac.com lbobbitt@rklac.com
BUSINESS FOCUS:
Practice is focused on community/neighborhood shopping centers, retail and office
buildings, industrial warehouse/distribution buildings, residential and commercial
condominium and subdivision projects, hotels and motels, vacant land and special
purpose properties. Specialized services include appraisal review, business valuations,
market feasibility studies, acquisition/disposition counseling, and litigation support in
connection with real estate transactions including bankruptcy, eminent domain, estate
valuations, and matrimonial and equitable distribution. Clients served include banks and
financial institutions, developers and investors, law firms, government, and property
owners.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM A - APPRAISER QUALIFICATIONS
PROFESSIONAL QUALIFICATIONS OF
Rachel M. Zucchi, MAI, CCIM
EXPERIENCE: Partner / Managing Director of RKL Appraisal and Consulting, PLC
Naples, FL (2009 – Present)
President of D&R Realty Group, Inc.
Naples, FL (2009 – Present)
Senior Real Estate Analyst, Integra Realty Resources – Southwest Florida
Naples, FL (2003 – 2009)
Research Associate, Integra Realty Resources – Southwest Florida
Naples, FL (2002-2003)
PROFESSIONAL
ACTIVITIES:
Member:
President:
VP/Secretary/Treasurer:
Region X Representative:
Board of Directors:
Government. Relations:
Prof. Standards & Guidance:
LDAC Attendee:
Member:
Member:
Licensed:
Licensed:
Appraisal Institute – MAI Certificate Number 451177
Appraisal Institute Florida Gulf Coast Chapter (2020)
Appraisal Institute Florida Gulf Coast Chapter (2017 - 2019)
Appraisal Institute Florida Gulf Coast Chapter (2017 - 2022)
Appraisal Institute Florida Gulf Coast Chapter (2015 - 2021)
Appraisal Institute National (2022)
Appraisal Institute National (2023-2024)
Leadership Development & Advisory Council
Appraisal Institute - Washington, D.C. (2016, 2017, 2018)
CCIM Institute - CCIM Designation Pin Number 21042
Naples Area Board of REALTORS
Florida State Certified General Real Estate Appraiser
License No. RZ 2984
Real Estate Broker (Florida)
License No. BK3077672
EXPERT WITNESS: Qualified as an expert witness in the Twentieth Judicial Circuit Court of Collier County and
Lee County
EDUCATION: Bachelor of Arts, Major in Economics
Florida Gulf Coast University, 2002
Graduated Magna Cum Laude
Presented at Eastern Economic Association Conference
Successfully completed real estate and valuation courses and seminars sponsored by the
Appraisal Institute and others.
BUSINESS FOCUS: Actively engaged in real estate valuation and consulting since 2003. Practice is focused on
community/neighborhood shopping centers, retail and office buildings, industrial
warehouse/distribution, multi-family and single-family subdivisions, condominium
developments, hotels/motels, vacant land and special purpose properties. Specialized services
include market feasibility studies and litigation support in connection with real estate
transactions. Clients served include banks and financial institutions, developers and investors,
law firms, government, and property owners. Valuations have been performed for eminent
domain, bankruptcy, estate, matrimonial/equitable distribution, financing, and due diligence
support.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM A - APPRAISER QUALIFICATIONS
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM B - PROPERTY INFORMATION
ADDENDUM B
PROPERTY INFORMATION
Map of Dr. Robert H. Gore III Preserve Project Area
34TH AVE SE
36TH AVE SE
38TH AVE SE
40TH AVE SE DESOTO BLVD S42ND AVE SE
36TH AVE SE
40TH AVE SE
0 10.5Milesl
LegendParcels in Project AreaDr. Robert H. Gore III Preserve
FDEP Informal Wetland Determination MapConservation Collier Dr. Robert H. Gore III Preserve Project Area
Table of Dr. Robert H. Gore III Preserve Project Area Parcels
FOLIO NUMBER ACRES FOLIO NUMBER ACRES FOLIO NUMBER ACRES
41618120001 1.14 41508760005 1.59 41506920009 2.34
41617000009 1.14 41510200003 1.59 41507120002 2.34
41619280005 1.14 41619000007 1.59 41504880002 2.34
41618440008 1.14 41503960004 1.59 41506680006 2.34
41503040005 1.14 41507480001 1.59 41507640100 2.50
41504160007 1.14 41618040000 1.59 41617240005 2.50
41618400006 1.14 41506840008 1.64 41617240102 2.50
41501160000 1.14 41506560003 1.64 41661480002 2.65
41501200009 1.14 41504840000 1.64 41503320000 2.73
41501800001 1.14 41507240005 1.64 41617920008 2.73
41507400007 1.14 41560560007 1.64 41618360007 2.73
41507520000 1.14 41560680000 1.64 41617200003 2.73
41507680005 1.14 41502600006 2.27 41619240003 2.73
41507800005 1.14 41503280001 2.27 41501240001 2.73
41507840007 1.14 41503880003 2.27 41501760002 2.73
41507920008 1.14 41507560002 2.27 41619160002 2.73
41508920007 1.14 41507720004 2.27 41501120008 2.73
41509080001 1.14 41508640002 2.27 41503240009 2.73
41509160002 1.14 41508720003 2.27 41503920002 2.73
41509200001 1.14 41508800004 2.27 41505040003 2.73
41509280005 1.14 41509000007 2.27 41507600001 2.73
41510160004 1.14 41509360006 2.27 41508600000 2.73
41510240005 1.14 41509440007 2.27 41508840006 2.73
41510280007 1.14 41509520008 2.27 41508880008 2.73
41510320006 1.14 41510640100 2.27 41509040009 2.73
41510360008 1.14 41616800006 2.27 41509120000 2.73
41619040009 1.14 41617800005 2.27 41509240003 2.73
41504920001 1.17 41619080001 2.27 41509320004 2.73
41507280007 1.17 41617080003 2.27 41509400005 2.73
41560440004 1.17 41504000002 2.27 41509480009 2.73
41560480006 1.17 41503200007 2.27 41510400007 2.73
41507360008 1.17 41617880009 2.27 41617040001 2.73
41506720005 1.17 41504800008 2.34 41617840007 2.73
41506640004 1.17 41505000001 2.34 41504760009 2.81
41507040001 1.17 41506360009 2.34 41506320007 2.81
41506880000 1.17 41506440000 2.34 41506400008 2.81
41506960001 1.17 41560640008 2.34 41506480002 2.81
41504480004 1.17 41560760001 2.34 41560520005 2.81
41507320006 1.17 41560840002 2.34 41560800000 2.81
41507880009 1.59 41506520001 2.34 41504640006 2.81
FOLIO NUMBER ACRES
41661520001 3.03
41560241009 3.18
41560280002 3.19
41616800103 3.41
41560240000 3.82
41510640003 4.12
41560400002 4.29
41560880004 4.36
41500520007 5.00
41510080003 5.00
41510120002 5.00
41618480000 5.00
41661840008 5.00
41501880005 5.00
41504320009 5.00
41504960003 5.15
41504360001 5.15
41616880000 5.68
41616840008 5.68
41510520000 5.97
41510560002 6.11
41510600001 6.25
41661880000 6.92
41560360003 7.05
41560920003 7.14
41560960005 7.16
41561000003 7.17
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ADDENDUM C
COMPARABLE DATA
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8304 Date 1/5/2024
Name 4430 34th AVE SE Price $60,000
Address 4430 34th AVE SE Price Per Acre $22,000
City Naples Transaction Type Closed Sale
Grantor Golden Land Partners LLC Financing Cash
Grantee Nadine Clergeau Property Rights Fee Simple
Tax ID
Days on Market 174 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6495558 Sale Verification Source Steven Horn w/ West Bay
Realty LLC
Conditions of Sale Arm's length Sale History None in previous 3 years
Acres 2.73 Topography Heavily Treed
Land SF 118,800 Zoning E-Estates
Primary Frontage Feet 180 Dimensions 180' x 660'
Primary Frontage Street 34th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Land Comparable 1 - Small Parcels
Transaction
Site
Heavily treed parcel located along south side of 34th Ave SE west of Desoto Blvd S. No wetland determination on file.
FDEP map shows parcel is freshwater forested/shrub wetlands.
Comments
41503760000
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8301 Date 1/2/2024
Name 36th AVE SE, TR 5 Price $57,000
Address 36th AVE SE, TR 5 Price Per Acre $22,800
City Naples Transaction Type Closed Sale
Grantor Javier M Villalobos Financing Cash
Grantee Mario Guerra Vasquez Property Rights Fee Simple
Tax ID
Days on Market 128 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6494125 Sale Verification Source Carlos Diaz, LLC w/ Sun
Realty
Conditions of Sale Arm's length Sale History 10/2020 - $70,000
Acres 2.50 Topography Heavily Treed
Land SF 108,900 Zoning E-Estates
Primary Frontage Feet 165 Dimensions 165' x 660'
Primary Frontage Street 36th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Heavily treed parcel located along south side of 36th Ave SE west of Desoto Blvd S. No wetland determination on file.
FDEP map shows parcel is freshwater forested/shrub wetlands.
Land Comparable 2
Comments
Site
Transaction
41500520007
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8303 Date 1/29/2024
Name 40th AVE SE, TR 97 Price $53,000
Address 40th AVE SE, TR 97 Price Per Acre $19,433
City Naples Transaction Type Closed Sale
Grantor Jose E F Rodriguez Financing Cash
Grantee Tatsiana Harai Property Rights Fee Simple
Tax ID
Days on Market 144 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6503979 Sale Verification Source Yamirla Alvarez, LLC w/
Coldwell Banker Realty
Conditions of Sale Arm's length Sale History 1/2023 - $35,000
Acres 2.73 Topography Heavily Treed
Land SF 118,800 Zoning E-Estates
Primary Frontage Feet 180 Dimensions 180' x 660'
Primary Frontage Street 40th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Transaction
Land Comparable 3
Heavily treed parcel located along south side of 40th Ave SE east of Desoto Blvd S. No wetland determination on file.
FDEP map shows parcel is freshwater forested/shrub wetlands.
Site
Comments
41509120000
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8300 Date 10/11/2023
Name 4385 36th AVE SE Price $44,500
Address 4385 36th AVE SE Price Per Acre $19,580
City Naples Transaction Type Closed Sale
Grantor Shirley Dipillo-Caputi
Individually and as Personal
Representative of the Estate
of Joseph E. Perrenod
Financing Cash
Grantee A.H. Windows & Doors, Inc.Property Rights Fee Simple
Tax ID
Days on Market 12 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6464816 Sale Verification Source Peggy Elkins w/ Staton
Properties, LLC
Conditions of Sale Arm's length Sale History None in previous 3 years
Acres 2.27 Topography Heavily Treed
Land SF 99,000 Zoning E-Estates
Primary Frontage Feet 150 Dimensions 105' x 660'
Primary Frontage Street 36th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Comments
Heavily treed parcel located along north side of 36th Ave SE west of Desoto Blvd S. No wetland determination on file.
FDEP map shows parcel is freshwater forested/shrub wetlands.
Site
Transaction
Land Comparable 4
41503400001
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8316 Date 2/9/2024
Name Desoto Blvd S Price $47,900
Address Desoto Blvd S Price Per Acre $40,912
City Naples Transaction Type Closed Sale
Grantor Worrell and Pauline White Financing Cash
Grantee Christopher Manuel Nunez Property Rights Fee Simple
Tax ID
Days on Market 3 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instru #6507221 Sale Verification Source Patricia Ewashko w/ Royal
Shell Real Estate
Conditions of Sale Arm's Length Sale History 9/2020 - $20,000.
Acres 1.17 Topography Heavily Treed
Land SF 51,000 Zoning E-Estates
Primary Frontage Feet 75 Dimensions 75' x 680'
Primary Frontage Street Desoto Blvd S Shape Rectangular
Utilities None Topography Heavily Treed
Land Comparable 5
41166560003
Transaction
Site
Heavily treed parcel located along the east of Desoto Blvd S. Informal Wetland Determination dated 5/27/2020 shows
0.44 acres (38%) wetlands located in the front of the site.
Comments
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8299 Date Pending
Name 4760 24th AVE SE Price $53,500
Address 4760 24th AVE SE Price Per Acre $33,629
City Naples Transaction Type Pending Sale
Grantor David Jesus Lopez Zanelli Financing Pending
Grantee Confidential Property Rights Fee Simple
Tax ID
Days on Market 321 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Not yet recorded Sale Verification Source Maria Zanelli w/ Century 21
Selling Paradise
Conditions of Sale Pending Sale History None in previous 3 years
Acres 1.59 Topography Heavily Treed
Land SF 69,300 Zoning E-Estates
Primary Frontage Feet 105 Dimensions 105' x 660'
Primary Frontage Street 24th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
41169080001
Heavily treed parcel located along south side of 24th Ave SE east of Desoto Blvd S. Informal Wetland Determination
dated 12/12/22 shows 1.54 acres (97%) wetlands.
Site
Comments
Land Comparable 6
Transaction
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8326 Date 10/23/2023
Name 22nd AVE SE, TR 116 Price $135,000
Address 22nd AVE SE Price Per Acre $54,000
City Naples Transaction Type Closed Sale
Grantor Joseph & Mary Prush
Individually and as Trustee
Financing Cash
Grantee Clinton Miles Dunmire Property Rights Fee Simple
Tax ID
Days on Market 17 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6468393 Sale Verification Source Joseph Prush w/ Premiere Plus
Realty Company
Conditions of Sale
Arm's length Sale History 3/2023 $100,000 as part of 5-
acre parcel
Acres 2.50 Topography Heavily Treed
Land SF 108,900 Zoning E-Estates
Primary Frontage Feet 165 Dimensions 165' x 660'
Primary Frontage Street 22nd Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Site
41170960000
Comments
Heavily treed parcel located along north side of 22nd Ave SE east of Desoto Blvd S. Informal Wetland Determination
dated 7/29/21 shows the site is entirely uplands with no wetlands.
Land Comparable 7
Transaction
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8325 Date 6/21/2023
Name 4332 28th AVE SE Price $70,000
Address 4332 28th AVE SE Price Per Acre $61,600
City Naples Transaction Type Closed Sale
Grantor Homes Art Investment Llc Financing Cash
Grantee Idolidia Vazquez and Elisa
Alonso
Property Rights Fee Simple
Days on Market 7 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6420935 Sale Verification Source Nathalia Mato w/ Sellstate
Achievers Realty
Conditions of Sale Arm's length Sale History None in previous 3 years
Acres 1.1 Topography Heavily Treed
Land SF 49,500 Zoning E-Estates
Primary Frontage Feet 75 Dimensions 75' x 660'
Primary Frontage Street 28th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Comments
Land Comparable 8
Transaction
Site
Heavily treed parcel located along south side of 28th Ave SE west of Desoto Blvd S. Informal Wetland Determination
dated 8/22/2018 shows the site is entirely uplands with no wetlands.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8307 Date 4/28/2023
Name 40th AVE SE, TR 56 Price $160,000
Address 40th AVE SE, TR 56 Price Per Acre $32,000
City Naples Transaction Type Closed Sale
Grantor Megan M Mcgreevy Financing Cash
Grantee Katherine Delgado Property Rights Fee Simple
Tax ID
Days on Market 703 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6396049 Sale Verification Source William K McGreevy, Jr. w/
Premiere Plus Realty Co.
Conditions of Sale Arm's length Sale History None in previous 3 years
Acres 5.00 Topography Heavily Treed
Land SF 217,800 Zoning E-Estates
Primary Frontage Feet 330 Dimensions 330' x 660'
Primary Frontage Street 40th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Transaction
41615160006
Site
Comments
Land Comparable 1 - Medium and Large Parcels
Heavily treed parcel located along north side of 40th Ave SE east of Everglades Blvd S. Informal Wetland
Determination shows approximately 10% wetlands in the front eastern corner and rear.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8305 Date 4/14/2023
Name 40th AVE SE, TR 114 Price $79,000
Address 40th AVE SE, TR 114 Price Per Acre $12,938
City Naples Transaction Type Closed Sale
Grantor Nannette Rinehart Financing Cash
Grantee Primitivo D. Sapla, Jr and
Sonia G. Sapla
Property Rights Fee Simple
Tax ID
Days on Market 4 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6391193 Sale Verification Source Matthew Harrington w/
William Raveis Real Estate
Conditions of Sale Arm's length Sale History 2/2021 - $65,000
Acres 6.11 Topography Heavily Treed
Land SF 265,980 Zoning E-Estates
Primary Frontage Feet 403 Dimensions 403' x 660'
Primary Frontage Street 40th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Transaction
41510560002
Site
Comments
Heavily treed parcel located along north side of 40th Ave SE east of Desoto Blvd S. No wetland determination on file.
FDEP map shows parcel is freshwater forested/shrub wetlands.
Land Comparable 2
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8306 Date 3/17/2023
Name 3908 32nd AVE SE Price $265,000
Address 3908 32nd AVE SE Price Per Acre $46,640
City Naples Transaction Type Closed Sale
Grantor Carl Tackles Financing Cash
Grantee Keo and Kou Yang Property Rights Fee Simple
Tax ID
Days on Market 53 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6380600 Sale Verification Source Taryn R Cafiero w/ John R.
Wood Properties
Conditions of Sale Arm's length Sale History None in previous 3 years
Acres 5.68 Topography Heavily Treed; Brazilian
Pepper Removed
Land SF 247,500 Zoning E-Estates
Primary Frontage Feet 375 Dimensions 375' x 660'
Primary Frontage Street 32nd Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Comments
Heavily treed parcel located along south side of 32nd Ave SE west of Desoto Blvd S along a canal. Informal Wetland
Determination dated 12/7/22 shows no wetlands.
Land Comparable 3
Transaction
41397480004
Site
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8308 Date 2/6/2024
Name 30th AVE SE, TR 4 Price $115,000
Address 30th AVE SE, TR 4 Price Per Acre $23,000
City Naples Transaction Type Closed Sale
Grantor Mary Lou Klage & Michelle L
Elmendorf
Financing Cash
Grantee Jeanette Casulli Property Rights Fee Simple
Tax ID
Days on Market 274 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6509607 Sale Verification Source Kevin Heaslip w/ Prime Real
Estate of Naples
Conditions of Sale Arm's length Sale History None in previous 3 years
Acres 5.00 Topography Heavily Treed
Land SF 217,800 Zoning E-Estates
Primary Frontage Feet 330 Dimensions 330' x 660'
Primary Frontage Street 30th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Land Comparable 4
Transaction
41440360000
Site
Comments
Heavily treed parcel located along north side of 30th Ave SE west of Desoto Blvd S. Informal Wetland Determination
shows 4.56 acres (91%) wetlands.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8310 Date 1/12/2024
Name 1521 Desoto BLVD S Price $92,500
Address 1521 Desoto BLVD S Price Per Acre $32,919
City Naples Transaction Type Closed Sale
Grantor Chandra & Kuar Ramnarine Financing Cash
Grantee Palantir Homes, LLC Property Rights Fee Simple
Tax ID
Days on Market 706 Sale Verification Date 2/22/2024
Book/Page or Reference
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Instr #6501764 Sale Verification Source Oscar Velez, PA w/ John R.
Wood Properties
Conditions of Sale Arm's length Sale History None in previous 3 years
Acres 2.81 Topography Heavily Treed
Land SF 122,400 Zoning E-Estates
Primary Frontage Feet 180 Dimensions 180' x 660'
Primary Frontage Street Desoto Blvd Shape Rectangular
Utilities None Topography Heavily Treed
Transaction
41104800000
Site
Comments
Heavily treed parcel located along west side of Desoto Blvd S. No wetland determination on file. FDEP map shows
parcel is uplands.
Land Comparable 5
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8311 Date 1/12/2024
Name Desoto Blvd & 8th Ave SE Price $132,500
Address Desoto Blvd & 8th Ave SE Price Per Acre $47,154
City Naples Transaction Type Closed Sale
Grantor Bogart Properties Llc Financing Cash
Grantee B&G Properties of Naples,
LLC
Property Rights Fee Simple
Tax ID
Days on Market 66 Sale Verification Date 2/22/2024
Book/Page or Reference
Doc
Instr #6498283 Sale Verification Source Juan David Chaparro w/
Clever Home Selling
Conditions of Sale Arm's length Sale History None in previous 3 years
Acres 2.81 Topography Heavily Treed
Land SF 122,400 Zoning E-Estates
Primary Frontage Feet 180 Dimensions 180' x 660'
Primary Frontage Street Desoto Blvd Shape Rectangular
Utilities None Topography Heavily Treed
Comments
Heavily treed parcel located at southeast corner of Desoto Blvd S and 8th Ave SE. Informal Wetland Determination
dated 9/28/2023 shows 1.16 acres (41%) wetlands located in the rear of the site.
Land Comparable 6
Transaction
40807760008
Site
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8309 Date 10/30/2023
Name 4849 26th AVE SE Price $135,000
Address 4849 26th AVE SE Price Per Acre $27,000
City Naples Transaction Type Closed Sale
Grantor J Alves Ezzard individually
and as Trustee
Financing Cash
Grantee MSG Leon, LLC Property Rights Fee Simple
Tax ID
Days on Market 124 Sale Verification Date 2/22/2024
Book/Page or Reference
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Instr #6471753 Sale Verification Source Cory Lauer w/ Keller Williams
Realty Naples
Conditions of Sale Arm's length Sale History 8/2021 - $93,000
Acres 5.00 Topography Heavily Treed
Land SF 217,800 Zoning E-Estates
Primary Frontage Feet 330 Dimensions 330' x 660'
Primary Frontage Street 26th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Land Comparable 7
Transaction
41450160009
Site
Comments
Heavily treed parcel located along north side of 26th Ave SE east of Desoto Blvd S. Informal Wetland Determination
shows approximately 50% wetlands in the rear of the site.
DR. ROBERT H. GORE III PRESERVE AREA MARKET STUDY ADDENDUM C - COMPARABLE DATA
ID 8312 Date 10/20/2023
Name 34th AVE SE, TR 23 Price $82,000
Address 34th AVE SE, TR 23 Price Per Acre $16,400
City Naples Transaction Type Closed Sale
Grantor Jose & Luz Rivera Financing Cash
Grantee John Blanco and Annarella
Acotsa Garcia
Property Rights Fee Simple
Days on Market 798 Sale Verification Date 45344
Book/Page or Reference
Doc
Instr #6471475 Sale Verification Source Nicholas T Sassi w/ Global
Realty of Southwest Florida
Inc
Conditions of Sale Arm's length Sale History None in previous 3 years
Acres 5.0 Topography Heavily Treed
Land SF 217,800 Zoning E-Estates
Primary Frontage Feet 330 Dimensions 330' x 660'
Primary Frontage Street 34th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
Transaction
Site
Comments
Heavily treed parcel located along south side of 34th Ave SE west of Desoto Blvd S. Informal Wetland Determination
dated 6/12/2023 shows 3.50 acres (70%) wetlands located throughout the site.
Land Comparable 8