Agenda 10/22/2024 Item #11C (Sale and Purchase under the Conservation Collier Land Aquisition Program with Symphony Properties LLC for a 150.0-acre property)10/22/2024
Item # 11.C
ID# 2024-1142
Executive Summary
*** This item continued from the October 8, 2024, BCC Meeting. *** Recommendation to approve an Agreement for
Sale and Purchase under the Conservation Collier Land Acquisition Program with Symphony Properties LLC for a
150.0-acre property at a cost of $4,015,000, for a total cost not to exceed $4,035,150, inclusive of closing costs.
OBJECTIVE: To have the Board of County Commissioners (Board) approve an Agreement for the purchase of a 150-
acre property within the northeast corner of North Belle Meade.
CONSIDERATIONS: On October 10, 2023, Agenda Item No. 11B, the Board approved a Conservation Collier Land
Acquisition Advisory Committee (CCLAAC) recommending Cycle 12A Active Acquisition List (AAL) and directed
staff to actively pursue acquisition of the properties under the Program. Symphony Properties was approved as an A-list
property on the Cycle 12A AAL.
Symphony Properties - Parcels 00301320007, 00300880001, 00299120005, 00300800007, 00299800008,
00299440002, 00301800006, 00299480004, 00299680008, 00299560005, and 00299920001, within the northeast
corner of North Belle Meade, south of Frangipani Ave., off 20th St. SE
• 150 acres of land consisting of pine flatwoods, palmetto prairie, and improved pasture, with approximately half
the soils mapped as hydric.
• Adjacent to two undeveloped parcels owned by the Collier County School Board.
• Northern 40 acres contain several buildings and structures that could be used by the Program and/or the public.
• Environmental Site Assessments will be completed prior to acquisition to determine whether environmental
remediation will be a required condition of sale.
• An offer of $3,613,500 was made on April 2, 2024, and rejected. On April 25, 2024, the negotiated sale price of
$4,015,000 was accepted. The purchase price is 100% of the appraised value.
The Symphony Properties site met the Initial Screening Criteria identified in the Conservation Collier Ordinance, No.
2002-63, as amended, including the presence of native habitat, significant human social values, protection of water
resource values and wetland dependent species habitat, presence of significant biological/ecological values, listed
species habitat, and restoration potential.
The property can provide many recreational opportunities, including hiking, biking, horseback riding, and potentially
hunting. The southernmost 40 acres of the site are within a 20-year wellfield protection zone. Gopher tortoises and
burrows were observed on site, and there is potential for use by Sandhill Crane, Florida Panther, and Crested Caracara.
This area also contains historic nesting/foraging habitat for the endangered Red-Cockaded Woodpecker (RCW).
Although not directly adjacent to protected land, undeveloped sending land exists between this property and a large
block of private conservation easements to the southwest. This property contributes to an important wildlife corridor
connecting species from the Florida Panther Refuge, Golden Gate Rural Estates, Dr. Robert H. Gore III Preserve, as
well as the Picayune Strand State Forest and Fakahatchee Strand State Preserve to the south through wildlife
underpasses under I-75. This site also provides an ecological link to the northern range expansion goals of the RCW
Recovery Plan.
All eleven parcels have a base zoning of Agricultural and are within the Rural Fringe Mixed Use District; the southern
ten parcels (110 acres) are designated Sending with a North Belle Meade Overlay, and the northern parcel (40 acres) is
designated Neutral.
In January 2024, staff contracted with two independent, state-certified general real estate appraisal firms to appraise the
Symphony Properties site. The average of the two appraisals was used to calculate the appraised value. The cost to
obtain the appraisals was $5,800.
This acquisition is consistent with the Conservation Collier Purchasing Policy, Resolution No. 2023-10, which allows
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Item # 11.C
ID# 2024-1142
offer amounts to be determined by staff but no more than the appraised value.
Pursuant to Ordinance 2002-63, as amended (Ord. 2024-17), Section 12(6), a Project Design Report (“PDR”) for this
property is provided herewith.
FISCAL IMPACT: The funds for this land acquisition will be withdrawn from the Conservation Collier Trust Fund
(1061). The property identified herein is comprised of a not-to-exceed acquisition cost of $4,035,150 as follows:
Seller Name Acres Appraised
Value
Purchase
Price
Closing Costs
(title commit.
and policy,
closing,
recording)
Total
Purchase
Price
Environ.
Site
Assess.
Initial 5 Yr.
Maint
Costs
Long-term
Annual
Maint
Costs
Symphony
Properties
150 $4,015,000 $4,015,000 $20,150 $4,035,150 $25,000 $216,000 $25,000
Environmental Site Assessments (ESAs) will be conducted prior to acquisition during the inspection period. The
estimated cost of these ESAs ($25,000) will be withdrawn from the Conservation Collier Trust Fund (1061). However,
should the Seller terminate the Purchase Agreement due to the results of the ESAs, the Seller will reimburse Collier
County the actual cost of the ESAs or an amount not to exceed $25,000. Additionally, $400,000 of the acquisition funds
will be held in escrow until any required environmental remediation is complete. Escrow funds will be released to the
Seller upon completion of the remediation.
As of October 8, 2024, the estimated property acquisition costs for Conservation Collier properties, including this
property and those under contract, total $127,318,911. The funds for managing this parcel will be expended from the
Conservation Collier Maintenance Fund (1062). The initial maintenance costs are provided in the attached PDR. The
total maintenance costs for this parcel for the first five years (initial maintenance costs) are estimated at $216,000. After
initial restoration, the estimated maintenance costs for this parcel will be approximately $25,000 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
RECOMMENDATIONS:
1) To approve the attached Agreement and accept the Warranty Deed once approved by the County Attorney’s Office.
2) To authorize the Chairman to execute the Agreement and any and all other County Attorney’s Office approved
documents related to this transaction; 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 Agreement.
PREPARED BY: Melissa Hennig, Environmental Specialist I, Conservation Collier, Development Review Division
ATTACHMENTS:
1. Appraisal_CarlsonNorris
2. Appraisal_Carroll&Carroll
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Item # 11.C
ID# 2024-1142
3. Symphony Properties PDR
4. Symphony Properties Agreement
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1919 Courtney Drive | Fort Myers, FL 33908 | Phone 239.936.1991 | www.carlsonnorris.com
APPRAISAL REPORT
Prepared For:
Collier County Board of Commissioners
Attention: Roosevelt Leonard, R/W-AC,
Senior Review Appraiser
Growth Management Department
Operations
2800 N Horseshoe Drive
Naples FL 34104
Prepared By:
ON, NORRIS &
1919 Courtney Drive. Suite 14
Fort Myers, FL 33901
(239) 936-1991
www.carlsonnorris.com
File #20-100
SYMPHONY PROPERTIES
APPRAISAL PROJECT
NAPLES, FLORIDA 34117
File #: 24-02
Purchase Order: 4500228002
Page 911 of 7162
1919 Courtney Drive | Fort Myers, FL 33908 | Phone 239.936.1991 | www.carlsonnorris.com
Real Estate Valuation Experts
Trusted since 1985
January 29, 2024
Collier County Board of Commissioners
Attention: Roosevelt Leonard, R/W-AC, Senior Review Appraiser
Growth Management Department Operations
2800 N Horseshoe Drive
Naples FL 34104
Re: Symphony Properties Appraisal Project
1330 20th Street SE,
Naples, Florida 34117
Our File Number: 24-02
Purchase Order: 4500228002
Dear Mr. Leonard,
At your request and authorization, Carlson, Norris and Associates, Inc. have prepared an appraisal
presented in an Appraisal Report of the market value for the above referenced real property. Per the
request of the client, we have provided the market value of the subject on an As-Is basis. The interest
appraised includes the fee simple estate of the subject property.
The subject property is vacant land located at 1330 20th Street SE, Naples, Florida 34117. The site is
irregular in shape, contains a total of 150 acres or 6,534,000 square feet containing eleven parcels.
The most northern parcel, numbered 00301320007, is 40 acres or 1,742,400 square feet, zoned
Agricultural with a Rural Lands Mixed Use District Neutral Lands with a North Belle Meade Overlay.
The other ten parcels are 110 acres or 4,791,600 square feet, zoned Agricultural with a Rural Lands
Mixed Use District Sending Lands with a North Belle Meade Overlay. The future land use designation
for the 40-acre parcel is RF-Neutral and the future land use designation for the 110-acre parcels are
RF-Sending. The site will be more fully described within the body of the attached report. The property
is completely uplands. The site has 6 buildings; Metal residential building; Metal storage building; 3
small wooden cabins; 2 chickee huts; 3 covered shooting range shelters; 2 large shooting range
berms; internal cattle fencing and gates; dilapidated barn. The site is primarily wooded with most of the
vacant cleared land residing in the 40-acre neutral parcel.
Data, information, and calculations leading to the value conclusion are incorporated in the report
following this letter. The report, in its entirety, including all assumptions and limiting conditions, is an
integral part of, and inseparable from, this letter. Any special assumptions and limiting considerations
were especially noted in Section 7 of this report. Your attention is directed to these General
Assumptions and Limiting Conditions which are part of this report.
The following appraisal sets forth the most pertinent data gathered, the techniques employed, and the
reasoning leading to the opinion of value. The analyses, opinions and conclusions were developed
based on, and this report has been prepared in conformance with, our interpretation of the guidelines
and recommendations set forth in the Uniform Standards of Professional Appraisal Practice (USPAP)
of the Appraisal Foundation, the requirements of the Code of Professional Ethics and Standards of
Professional Appraisal Practice of the Appraisal Institute, the Financial Institutions Reform, Recovery,
and Enforcement Act of 1989 (FIRREA), Title XI Regulations.
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2
January 29, 2024
Page 2
Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the 40-acre parcel designated Rural Lands Mixed
Use District Neutral Lands, under the extraordinary assumptions as discussed in this report, warranted
a market value in its “as is” condition in fee simple ownership on January 17, 2024 of:
ONE MILLION TWO HUNDRED THOUSAND DOLLARS ..................................... ($1,200,000.00).
Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the ten parcels totaling 110-acres designated Rural
Lands Mixed Use District Sending Lands, under the extraordinary assumptions as discussed in this
report, warranted a market value in its “as is” condition in fee simple ownership on January 17, 2024
of:
THREE MILLION EIGHTY THOUSAND DOLLARS............................................... ($3,080,000.00).
Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the eleven parcels totaling 150-acres, under the
extraordinary assumptions as discussed in this report, warranted a market value in its “as is” condition
in fee simple ownership on January 17, 2024 of:
FOUR MILLION TWO HUNDRED EIGHTY THOUSAND DOLLARS ................... ($4,280,000.00).
Please refer to the attached appraisal report, plus exhibits, for documentation of the value estimates
contained herein. It has been a pleasure to assist you in this assignment. If you have any questions
concerning the analysis, or if Carlson, Norris and Associates can be of further service, please contact
us.
Respectfully submitted,
Michael Jonas, MAI, AI-GRS, CCIM
State-certified general real estate appraiser RZ2623
Brandon Jonas
State-registered trainee appraiser RI25835
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AERIAL PHOTOGRAPH
SYMPHONY PROPERTIES APPRAISAL PROJECT
NAPLES, FLORIDA 34117
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TABLE OF CONTENTS
SUBJECT PHOTOGRAPH ....................................................................................... 3
SECTION 1 - SUMMARY OF SALIENT FACTS ....................................................... 5
SECTION 2 – PREMISES OF THE APPRAISAL ....................................................... 8
SCOPE OF WORK ................................................................................................................................. 8
SALES HISTORY.................................................................................................................................11
EXPOSURE TIME…………………………………………………………………………………………..12
MARKETING TIME ..............................................................................................................................13
EXTRAORDINARY ASSUMPTIONS ........................................................................................................14
SECTION 3 – DESCRIPTION OF REAL ESTATE APPRAISED .............................. 15
COLLIER COUNTY AREA ANALYSIS ....................................................................................................15
MARKET AREA ANALYSIS ..................................................................................................................28
LEGAL DESCRIPTION .........................................................................................................................31
OWNER OF RECORD ..........................................................................................................................32
ASSESSED VALUE AND TAXES ...........................................................................................................32
SITE DESCRIPTION .............................................................................................................................34
SUBJECT PROPERTY PHOTOGRAPHS .................................................................................................48
SECTION 4 – HIGHEST AND BEST USE ANALYSIS ............................................ 72
HIGHEST AND BEST USE AS THOUGH VACANT ...................................................................................72
HIGHEST AND BEST USE AS THOUGH IMPROVED ................................................................................74
SECTION 5 – VALUATION OF THE SUBJECT ..................................................... 75
VALUE ESTIMATE BY THE COST APPROACH ......................................................................................75
VALUE ESTIMATE BY THE INCOME APPROACH ..................................................................................75
VALUE ESTIMATE BY THE SALES COMPARISON APPROACH ..............................................................75
SECTION 6 – RECONCILIATION OF VALUE ...................................................... 120
SECTION 7 – LIMITING CONDITIONS................................................................ 122
CERTIFICATION OF MICHAEL P. JONAS, MAI, AI-GRS, CCIM ......................................................... 122
CERTIFICATION OF BRANDON JONAS .............................................................................................. 125
GENERAL ASSUMPTIONS & LIMITING CONDITIONS .......................................................................... 127
SECTION 8 – ADDENDA ..................................................................................... 131
FLOOD MAP .................................................................................................................................... 132
LICENSES ....................................................................................................................................... 133
QUALIFICATIONS OF MICHAEL P. JONAS, MAI, AI-GRS, CCIM ..................................................... 134
QUALIFICATIONS OF BRANDON JONAS ............................................................................................ 136
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Section 1 – Summary of Salient Facts
Project Name: SYMPHONY PROPERTIES APPRAISAL PROJECT
Part One: One Parcel Neutral NBMO (40 Acres)
Part Two: Ten Parcels Sending NBMO (110 Acres)
Part Three: Eleven Parcels (150 Acres)
Parcel Number(s): 00301320007, 00300880001, 00299120005, 00300800007,
00299800008, 00299440002, 00301800006, 00299480004,
00299680008, 00299560005, 00299920001
Property Type: Agricultural Land
Property Location: 1330 20th Street SE, Naples, Florida 34117
Report Format: Appraisal Report
Date of Report:
Date of Inspection:
January 29, 2024
January 17, 2024
Date of Value:
Real Estate Interest
Appraised:
Purpose of the Appraisal:
January 17, 2024
Fee Simple
The purpose of this appraisal is to provide our estimate of the
"as is" market value of the fee simple interest of the subject
property for our client according to the reporting standards of the
Uniform Standards of Professional Appraisal Practice (USPAP),
and subject to the extraordinary assumptions stated herein.
Use of the Appraisal: The intended use of the appraisal is to assist the user, the Collier
County Board of County Commissioners, in the potential
acquisition of the subject property.
Intended Users:
Appraisal Client:
The intended user of this appraisal is the Collier County Board of
County Commissioners.
The client for this appraisal assignment is the Collier County
Board of County Commissioners.
Location: The property is located at 1330 20th Street SE, Naples, Florida
34117. The subject property can be found in Section 13,
Township 49, Range 27, in Collier County, Florida.
Site Description:
The site is irregular in shape, contains a total of 150 acres or
6,534,000 square feet containing 11 parcels. The most northern
parcel, numbered 00301320007, is 40 acres or 1,742,400
square feet, zoned Agricultural with a Rural Lands Mixed Use
District Neutral Lands with a North Belle Meade Overlay. The
other ten parcels are 110 acres or 4,791,600 square feet, zoned
Agricultural with a Rural Lands Mixed Use District Sending
Lands with a North Belle Meade Overlay. The future land use
designation for the 40-acre parcel is RF-Neutral and the future
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land use designation for the 110-acre parcels are RF-Sending.
Comprehensive Land Use
Plan Designation:
RF-Sending and RF-Neutral
Zoning Classification: A-Agricultural:
RFMUO-Rural Fringe Mixed Use Overlay,
NBMO-North Belle Meade Overlay-Sending and Neutral
Highest And Best Use As
Vacant:
The highest and best use for the site would be for agricultural or
recreational use consistent with the comprehensive land use
plan classification and zoning/overlay classifications affecting the
property.
Highest And Best Use As
Improved:
The subject property is currently vacant agricultural land with
supporting improvements that are in line with the allowable uses.
Typically, improvements of these nature do not contribute value
to high acreage agricultural land like the subject property. The
subject property as vacant represents the highest and best use.
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Conservation Features Summary Overview
Project Name: SYMPHONY PROPERTIES APPRAISAL PROJECT
Folio numbers with owner(s) of record: 00301320007, 00300880001, 00299120005,
00300800007, 00299800008, 00299440002, 00301800006, 00299480004,
00299680008, 00299560005, 00299920001
SYMPHONY PROPERTIES LLC, SOUTH DAKOTA TRUST CO. 201 S PHILLIPS AVE
# 200. SIOUX FALLS, SOUTH DAKOTA 57104
Zoning and overlays: A-Agricultural; RFMUO-Rural Fringe Mixed Use Overlay,
NBMO-North Belle Meade Overlay Sending and Neutral
Zoning Considerations for TDR’s, PHU, other endangered species: No
Was the cost to mitigate wetlands or endangered species taken into consideration? If
Yes, provide details.
No
Scope of proposed mitigation: None
Land Area: 11 parcels 150 acres or 6,534,000 square feet
Access for the parcel taken into consideration: Yes-Legal Access, only Physical
Access is from Parcel #00301320007 off dirt road 20th Street SE
Highest and Best Use: Agriculture, Single Family Dwelling, & Recreation
Date of estimated value: January 17, 2024
Estimated value: $4,280,000
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Section 2 – Premise of the Appraisal
Purpose of Appraisal: The purpose of this appraisal is to estimate the market value of the fee simple
interest of the subject property described on an “as is” basis, under the reporting requirements of the
Uniform Standards of Professional Appraisal Practice (USPAP), as defined by the Appraisal
Foundation.
Use of the Appraisal: The intended use of this appraisal is the user, the Collier County Board of
County Commissioners, in the potential acquisition of the subject property.
Intended User of Appraisal: The intended user of the appraisal is the Collier County Board of County
Commissioners.
Client: The client for this report is the Collier County Board of County Commissioners.
Competency of Appraisers: The appraisers' specific qualifications are included within this report.
These qualifications serve as evidence of their competence for the completion of this appraisal
assignment in compliance with the competency provision contained within the Uniform Standards of
Professional Appraisal Practice as promulgated by the Appraisal Standards Board of the Appraisal
Foundation. The appraisers' knowledge and experience, combined with their professional
qualifications, are commensurate with the complexity of this assignment based on the following:
• Professional experience
• Educational background and training
• Business, professional, academic affiliations and activities
The appraisers have previously provided consultation, value estimates, and compensation due for
acquisitions.
Scope of Work: The Uniform Standards of Professional Appraisal Practice (USPAP) define the scope
of work as: “the type and extent of research and analyses in an assignment”. “The scope of work
includes, but is not limited to: the extent to which the property is identified, the extent to which tangible
property is inspected, the type and extent of market research and the type and extent of analysis
applied to arrive at opinions or conclusions.”
The scope of this appraisal has been to collect, confirm, and report data. Other general market data
and conditions have been considered. Consideration has been given the property’s zoning and
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surrounding improvements and neighborhood. The work performed for this assignment included but is
not limited to the following:
• Extent to which the property was identified
o The appraisers relied on sketches and legal descriptions provided by our client and the
parcel number obtained from the Collier County Property Appraiser’s office relating to
the subject property.
• Extent to which the property was inspected
o An inspection of the property being appraised as well as the neighborhood in which it
is located was done on January 17, 2024. During the inspection, an inventory of the
property attributes was collected based on visual observation and photographs taken.
Please note, the appraiser was not able to access all interior portions of the site and
thus relied upon aerials from Collier County Property Appraiser’s office as well as
documents provided by the client.
• Type and extent of the data researched
o Investigation of public records for the property’s future land use, zoning, flood hazard
area classification, property appraiser records, and tax collector records for attributes
of the property.
o Collection and analysis of comparable land sales in order to form an opinion of the
value of the underlying land.
Sales in the market area were located and were selected based on physical
and location characteristics.
The data was verified with the buyer, seller, or representative of the
comparable as well as public records.
• Type and extent of analysis applied
o The value opinions presented in this report are based upon review and analysis of the
market conditions affecting real property value, including land values and sales data for
similar properties.
o Three approaches were considered to be utilized in determining value. 1) Cost
Approach – either replacement or reproduction cost is used to develop a value
indication for the subject property. 2) Income Approach – valued on the ability of a
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property generating a cash stream. 3) Sales Comparison Approach – value indication
is derived by comparing sales of similar properties. It is the most common and
preferred method of land valuation when an appropriate supply of comparable sales
are available.
o The Cost Approach was not utilized in our analysis because under current economic
conditions it is not considered to be a reliable indicator of value and it is typically not
used for the valuation of vacant land.
o Vacant land is not generally purchased for its ability to generate a cash stream;
therefore, the Income Approach is not utilized.
o The analyst will utilize the Sales Comparison Approach in estimating the market value
for the subject property land. A sales approach was applied as there is adequate data
to develop a value estimate and this approach reflects market behavior for this
property type.
An investigation of comparable land sales of similar unimproved properties
were utilized. The sales were considered in order to make a comparative
analysis which would lead to the completion of the Sales Comparison
Approach.
o The value opinion presented in this report is based upon review and analysis of the
market conditions affecting real property value, including land values, the attributes of
competitive properties, and sales data for similar properties.
o Preparation of a written report.
To develop the opinion of value, Carlson, Norris and Associates performed an appraisal as defined by
the Uniform Standards of Professional Appraisal Practice (USPAP). In this appraisal, Carlson, Norris
and Associates used the Sales Comparison Approach to develop a reliable value indication.
Furthermore, the value conclusion reflects information about the subject and market conditions. This
appraisal of the subject has been presented in the form of an Appraisal Report, which is intended to
comply with the reporting requirements set forth under Standards Rule 2-2(a) of the USPAP.
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Property Rights Appraised: The subjects fee simple estate has been appraised. No title work was
provided by the client. No easements or encumbrances were noted on the subject parent tract prior to
the effective date of January 17, 2024.
Fee simple estate is defined as: “Absolute ownership unencumbered by any other interest or estate,
subject only to the limitations imposed by the governmental powers of taxation, eminent domain,
police power, and escheat.”1
Market Value Definition: As defined in the Agencies’ appraisal regulations, “The most probable price
that a property should bring in a competitive and open market under all conditions requisite to a fair
sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not
affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a specified
date and the passing of title from seller to buyer under conditions whereby:
• Buyer and seller are typically motivated;
• Both parties are well informed or well advised, and acting in what they consider their best
interests;
• A reasonable time is allowed for exposure in the open market;
• Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements
comparable thereto; and
• The price represents the normal consideration for the property sold unaffected by special
or creative financing or sales concessions granted by anyone associated with the sale.”
(Source: Interagency Appraisal and Evaluation Guidelines; December 10, 2010, Federal
Register, Volume 75, Number 237, Page 77472)
Sales History: The Uniform Standards of Professional Appraisal Practice requires a statement of the
listings, purchase contracts and sales history of the subject property for the five years prior to the
appraisal date. No sales have occurred in the past five years. Additionally, the subject tract parcel
#00301320007 is currently listed for sale for $5,000,000 and has been on market since April of 2023.
The other 10 subject tract parcels with sending designation are currently listed for sale for $2,750,000
and has been on market since April of 2023. The subject parcel is not under contract and has not
currently been given an offer on the open market at this time.
Valuation History: The Uniform Standards of Professional Appraisal Practice requires the appraiser
to divulge any services provided on the subject property during the preceding three years. The
1 Unless otherwise noted, all definitions in italics are taken from The Dictionary of Real Estate Appraisal,
7th Edition, The Appraisal Institute, Chicago, Illinois
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appraisers and Carlson, Norris and Associates have not completed an appraisal of the subject
property, nor have we provided any services related to the property during the three years preceding
the date of this appraisal.
Appraisal Analysis and Report Type: The Appraisal Standards Board controls the process of
making an appraisal of a parcel of real estate. The Board issues rules and guidelines from which all
appraisals and resulting reports are made. The process of administration of those rules and guidelines
is addressed to the Real Estate Appraiser Commission of each respective state. The Appraisal
Standards Board issues the rules and guidelines in the form of a document update published each
year by The Appraisal Foundation. That document is entitled “The Uniform Standards of Professional
Appraisal Practice” (USPAP).
As of January 1, 2016, the two types of appraisal types are; Appraisal Report and Restricted Appraisal
Report. The appraisers have used the Appraisal Report option. The following definitions have been
adopted for each type of report:
• An Appraisal Report: A written report prepared under Standards Rule 2-2(a).
• Restricted Appraisal Report: A written report prepared under Standards Rule 2-2(b).
This report is an appraisal presented in an Appraisal Report format.
Exposure Time is defined as: “The estimated length of time that the property interest being
appraised would have been offered on the market prior to the hypothetical consummation of a sale at
market value on the effective date of appraisal. Exposure time is a retrospective opinion based on an
analysis of past events assuming a competitive and open market.” Exposure time is therefore
interrelated with appraisal conclusion of value.”
An estimate of exposure time is not intended to be a prediction of a date of sale or a simple one-line
statement. Instead, it is an integral part of the appraisal analysis and is based on one or more of the
following:
• statistical information about days on the market
• information gathered through sales verification
• interviews of market participants.
The reasonable exposure period is a function of price, time, and use. It is not an isolated estimate of
time alone. Exposure time is different for various types of real estate and under various market
conditions.
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In consideration of these factors, we may have analyzed the following:
• Exposure periods of comparable sales revealed during the course of this appraisal;
• Macroeconomic exposure times for the subject property type across the Subject MSA and
the entire United States as published in multiple articles and websites.
• Knowledgeable real estate professionals.
It is our opinion that properties that are competitively marketed would have an exposure time of up to
12 months. This exposure time assumes the subject parcel would have been competitively priced and
aggressively promoted within the market area.
Marketing Time is defined as: “An opinion of the amount of time it might take to sell a real or personal
property interest at the concluded market value level during the period immediately after the effective
date of an appraisal. Marketing time differs from exposure time, which is always presumed to precede
the effective date of an appraisal.”
The marketing time is an estimate of the number of months it will require to sell the subject from the
date of value, into the future. The anticipated marketing time is essentially a measure of the perceived
level of risk associated with the marketability, or liquidity, of the subject property. The marketing time
estimate is based on the data used in estimating the reasonable exposure time, in addition to an
analysis of the anticipated changes in market conditions following the date of appraisal. The future
price for the subject (at the end of the marketing time) may or may not equal the appraisal estimate.
The future price depends on unpredictable changes in the physical real estate, demographic and
economic trends, real estate markets in general, supply/demand characteristics for the property type,
and many other factors.
Based on the premise that present market conditions are the best indicators of future performance, a
prudent investor will forecast that, under the conditions described above, the subject will require a
marketing time of up to 12 months.
Hypothetical Condition is defined as: “A condition, directly related to a specific assignment, which is
contrary to what is known by the appraiser to exist on the effective date of the assignment results, but
is used for the purpose of analysis. Hypothetical conditions are contrary to known facts about
physical, legal, or economic characteristics of the subject property; or about conditions external to the
property, such as market conditions or trends; or about the integrity of data used in an analysis.” A
hypothetical condition may be used in an assignment only if:
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• Use of the hypothetical condition is clearly required for legal purposes, for purposes of
reasonable analysis, or for purposes of comparison;
• Use of the hypothetical condition results in a credible analysis; and
• The appraiser complies with the disclosure requirements set forth in USPAP for hypothetical
conditions.
No hypothetical conditions were used in this report.
Extraordinary Assumption is defined as: “An assumption, directly related to a specific assignment, as
of the effective date of the assignment results, which, if found to be false, could alter the appraiser's
opinions or conclusions. Extraordinary assumptions presume as fact otherwise uncertain information
about physical, legal, or economic characteristics of the subject property; or about conditions external
to the property, such as market conditions or trends; or about the integrity of data used in an analysis.”
An extraordinary assumption may be used in an assignment only if:
• It is required to properly develop credible opinions and conclusions;
• The appraiser has a reasonable basis for the extraordinary assumption;
• Use of the extraordinary assumption results in a credible analysis; and
• The appraiser complies with the disclosure requirements set forth in USPAP for extraordinary
assumptions.
Please note the following extraordinary assumptions:
• A soil analysis for the site has not been provided for the preparation of this appraisal. In the
absence of a soil report, it is a specific assumption that the site has adequate soils to support
the highest and best use. The analyst is not an expert in area of soils and would recommend
that an expert be consulted.
• It is assumed that there are no hidden or unapparent conditions to the property, soil, or subsoil,
which would render them more or less valuable. Subsurface oil, gas or mineral rights were not
considered in this report unless otherwise stated. The analyst is not an expert with respect to
subsurface conditions and would recommend that an expert be consulted.
• It is assumed that there are no hazardous materials either at ground level or subsurface.
None were noted during the property inspection. The analyst is not an expert in the evaluation
of site contamination and would recommend that an expert be consulted.
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Section 3 – Description of Real Estate Appraised
COLLIER COUNTY AREA ANALYSIS
Collier County is located in southwest Florida and was established in 1923 when it was separated from
Lee County. Collier County is named for Barron Collier, a New York City advertising mogul and real
estate developer who moved to southwest Florida and established himself as a prominent
businessman and land owner. By the end of the 1920s, railroads and Tamiami Trail were in-place
which opened the area to agricultural and resort development. Florida’s first commercial oil well was
drilled in 1943, and the county’s pine and cypress logging industry flourished into the 1950s. The
county’s economy boomed along with its population shortly after World War II. In a short span of 30
years the population increased from 6,500 to 86,000 by 1980. The economy was sustained from
agribusiness, tourism and real estate. This turned the county into one of the fastest growing areas in
the country.
PHYSICAL FACTORS
Collier County is the largest county in the state in terms of land area with 1,998 square miles which
includes 821,600 acres of preserves, parks, and refuges. Along with the land area, Collier County also
includes 307 square miles of water, giving Collier County a total size of 2,305 square miles. The most
highly developed areas within the county are west of Interstate 75 and along the coastline of the Gulf
of Mexico. Development becomes increasingly sparse when traveling east in the county. These
eastern areas of the county contain a considerable amount of preserved land. There are three
incorporated cities within the county; namely the City of Naples, the City of Marco Island, and
Everglades City. The county is famous for its subtropical climate with average high temperatures
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ranging from 74o Fahrenheit in January to 90o Fahrenheit in August. The average annual precipitation
for the county is 54 inches. This area is also subject to tropical storms and hurricanes. The hurricane
season runs from June through November.
ECONOMIC-FINANCIAL FACTORS
There are numerous economic factors that impact the supply and demand for all types of real estate
and housing in any given area. These factors will be considered and discussed in the following
paragraphs. Although these factors are considered individually, they do not act as independent
agents in the marketplace. They interact and effect, one another. Therefore, the economic-financial
factors considered, should be considered in totality, as a part of the economic framework.
Population: Collier County has 385,980 people living within according to recent July 2021 Census
population estimates, making Collier County Florida’s 17th most populous county. Collier County had a
population of 321,520 in 2010 and experienced 16.9% growth from 2010 to 2020. Additional
population estimates reflect population projections from 2020 to the year 2045 and compare the three
coastal counties in the southwest Florida area. The counties include; Charlotte, Collier and Lee. Collier
County’s population is predicted to increase to around 517,000 in year 2045.
Tourism: Tourism is an important industry for Naples, Marco Island and the Everglades. As the
leading employer and the primary economic engine for the region, the tourism industry is responsible
for over 34,400 jobs in Collier County in 2020. Just over 1.5 million visitors in 2021 spent over $1.6
billion dollars, resulting in a total economic impact of over $2.4 billion dollars to Collier County. Collier
County enacts a 5% tax on all hotel, campground and vacation rental stays of less than six months.
The distribution of tourist development tax dollars is set according to Collier County ordinance. The
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funds are dispersed as follows; beach related projects with 42.56% of the total Tourist Tax, tourism
promotion with 47.85%, and museums with 9.59%. Of the 42.56% for beach related projects, 3.58% is
allocated for beach park facilities and the remaining 39.98% is used for nourishment, pass & inlet
management. Of the 47.85% for tourism promotion, 33.57% is used for destination promotion and
administration and the remaining 14.28% is used for amateur sports complex/debt. Lastly, of the
9.59% allocated for museums, 7.68% is used for county museum operations, and the remaining
1.91% is used for non-county museum grants.
New Development: A relatively new town is developing in the eastern part of Collier County known
as Ave Maria. The town is located on what was once largely agricultural land is centered around Ave
Maria University, the country’s newest Catholic University. The university opened its doors in 2007 and
currently has approximately 1,303 students and offers 31 major and minor degree programs. The
school expects to continue growing in size. The town of Ave Maria is designed to be a compact, walk-
able, and self-sustaining, reflecting the community’s rural roots while offering a full range of residential
options and commercial services to its residents. The Ave Maria community totals about 6,656 acres,
of which 113 acres is designated as the University Campus. A Town Core anchored by the landmark
oratory that also incorporates retail, commercial, and residential living space, provides a central
connection between the town and the university. Business is expanding in Collier County as
evidenced by a surgical device company that recently opened its doors on a site near Ave Maria
University in the form of a $25 million manufacturing plant. This brought approximately 500
construction jobs to the area and currently employs around 350 workers. Ave Maria has experienced a
severe mosquito problem, resulting in the region being sprayed more than 30 times via airplane with
pesticides by the Collier Mosquito Control District in 2015, making it the most sprayed area in
southwest Florida.
A new town has also been proposed in Eastern Collier County. Collier Enterprises received the
Rivergrass project through the Collier County Commission on January 28th 2020, allowing them to
begin planning to develop a 1,000-acre township in Eastern Collier County. The plans were stalled as
the project’s impact on approximately 700 acres of primary panther habitat is being heavily opposed
by wildlife organizations such as the Conservancy of Southwest Florida, among others. However, a
recent 2021 court ruling rejected the Conservancy groups’ challenge to the development of
Rivergrass. Furthermore, Collier County commissioners voted to approve Collier Enterprises project
plans for two additional villages and a town hub in Eastern Collier County called Longwater, Bellmar,
and the Town of Big Cypress. These two additional villages along with Rivergrass will encompass over
12,000 acres with the neighboring Town of Big Cypress, most of which will be for environmental
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preservation. Each of the villages will be 1,000 acres, with the Town of big Cypress acting as an
anchor for all three. See site plan below for reference.
Employment & Income: The most recently reported median household income for Collier County is
at $70,217. Collier County’s unemployment rate has continued to decrease since 2020 and was at 2.2
percent as of December 2022, which was slightly lower than in December 2021. The overall trend of
unemployment has been trending downward. From January 2010 until March 2020, Collier County
had experienced downward trends in unemployment getting as low as almost 3%. Then in April 2020,
the effects of COVID-19 resulted in unemployment peaking to 13.5% from only 2.5% in February two
months prior. Unemployment remained elevated in the following months. The most recent data from
2022 shows that the unemployment rate has leveled back out to around 3% and has stayed consistent
month to month, though recently the unemployment rate has continued to decrease to around 2.2%.
See the table below.
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Collier County’s largest employment concentrations continue to be in industries that are fueled by
population growth. The Retail Trade industry is the largest with 23,534 industry jobs. Health Care and
Social Assistance is second with 23,378, and Real Estate and Rental Leasing is third with 22,378. The
Construction industry and Accommodation and Food Services Industry round out the top five largest
employers by industry in Collier County.
Major employers in Collier County include NCH Healthcare System with 7,017 employees, Collier
County School District with 5,604 employees, and Collier County Local Government with 5,119
employees. As the Collier County population matures, employment in the healthcare industry will
continue to make up a larger part of overall employment. Collier’s top employers as of 2019 are listed
below.
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Taxes: Florida is one of the few remaining states without a personal income tax. The absence of
personal income taxes draws many people to Florida. Businesses enjoy additional incentive of low
corporate income taxes. The Florida’s tax rate of 6% is one of the lowest in the U.S. and far below the
12% levied by some states. The largest share of households in Collier County pay $3,000+ in property
taxes.
The Florida statutes provide for the annual assessment and collection of property taxes on real and
personal property. Property taxes are assessed and collected at the county level as revenue for
counties, municipalities, school districts and special taxing districts. The tax rate is set by the taxing
authority. One mill is equal to $1 per $1,000 of property value. The total just value for all real estate
property types in Collier County for 2022 was $185,310,543,961.
Prices: A price index is a tool that simplifies the measurement of price movements in a numerical
series. Movements are measured with respect to the base period, when the index is set to 100. The
current cost of living index in Collier County is 113 meaning that generally speaking the cost of living is
more expensive in Collier County than the average cost of living throughout the United States.
Specifically, Groceries are at 107.7, Housing is at 140.9, and Health is at 106.7. Below you can see
the rest of the table and how it compares to the United States.
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Banking/Interest Rates/Financing: As of February 2023, the prime rate was reported at 7.75%.
Approximately one year ago the prime rate was 3.25%. The federal discount rate is most recently
reported to be 4.75%; a year ago was also .25%. The federal funds rate is 4.75%, while a year ago
was also .25% Currently the benchmark rate for a 30 year fixed loan is 6.36%, a 15 year fixed loan is
5.66%, and a five-year/one-year adjustable arm rate at 5.43%.
Financing both commercial and residential properties became difficult during the downturn in the
economy. Financing for vacant land is the most difficult. Vacant land is currently being purchased by
investors with cash and expectation of longer holding periods. Generally financing of improved
properties requires loans of 60%-75% of commercial properties and 90%-95% financing available for
residential properties.
Real Estate and Housing: Collier County experienced a significant increase in residential and
commercial property values from 2004 through 2006. Several news publications rated Naples as the
most over-valued area of the country with respect to residential housing values. The decline in
residential property values began in 2006. Inventory levels began to rise as investors and owners
positioned themselves to sell at a significant profit. However, buyers were reluctant to purchase any
property with a sense that the economy as a whole was headed for trouble. Many investors were not
able to meet their carrying costs and properties went into foreclosure. Southwest Florida became the
epicenter for residential property foreclosures with communities such as Golden Gate at the forefront
of the crisis in Collier County.
Residential construction projects in various stages of development were stopped as housing
inventories continued to rise and prices began to fall significantly. Southwest Florida thrived on the
residential construction industry; and with no homes to build, this industry was quickly decimated.
Contractors that supplied this industry typically ran their businesses from various industrial locations in
Collier and Lee Counties. This type of property was the first commercial property to be adversely
affected with retail and office properties following.
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There are 24+/- industrial parks and parks of commerce located throughout Collier County. Each park
is proximate to Interstate-75 for connection to major air transportation and water ports. Collier County’s
zoning allows the flexibility of properties of 19 acres or more to be zoned as Research and Technology
Parks, which are based on commerce parks and offer advanced infrastructure to attract technology
based businesses.
New construction building permits are an indicator of health in an economy of a given area. Below is a
chart showing single family permits monthly averages from January 2021 to January 2023. In the
bottom of the recession in 2009, Collier County fell below 50 permits per month. In Collier County,
206 permits were issued in January 2023, a decrease of 155 permits (43 percent) from January
2022 (see chart below). New construction building permits include houses under construction and
therefore reflect jobs in the construction industry.
The median closed price of single-family Collier County home sales was $725,000 in January 2023,
an increase of $49,001 (7 percent) compared to January 2022. The median price in Collier County has
been rising steadily since 2012, with a recent peak in May 2022. See the chart below.
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Transportation: The infrastructure of the county continues to see improvements. Interstate 75 has
been widened to six lanes from Fort Myers to Golden Gate Parkway in Naples. The County recently
widened several major corridors such as Immokalee Road, Collier Boulevard, Rattlesnake Hammock
Road and Goodlette-Frank Road. East Naples was not overlooked, with road widening projects along
Collier Boulevard, Santa Barbara Boulevard and Radio Road. Major north south roads are: US 41,
Interstate 75, Airport Pulling Road and Livingston Parkway. The Collier County Government has
worked diligently to develop an efficient road system that will accommodate future growth; and it is
likely to continue to develop the necessary road infrastructure in the years to come.
Southwest Florida International Airport (RSW) in Fort Myers, Florida satisfies the passenger traffic
needs for the fast-growing population of Southwest Florida. RSW is one of the fastest growing airports
in the nation, servicing more than 10 million passengers a year. More than two dozen commercial
airlines currently serve Southwest Florida Regional Airport with non-stop service to more than 27
domestic and two international destinations. The Southwest Florida International Airport also maintains
customs clearing facilities for international cargo. RSW is located off Interstate-75 in South Lee
County, an approximate 30-minute drive from most areas of Naples. In 2005 the airport was
completely updated and expanded to meet the growing demand of area businesses and visitors. The
$386 million ultra-modern complex includes a two-story terminal with 28 aircraft gates along three
concourses, a new taxiway, and new parking options that includes a three-story parking structure. The
facility will allow for incremental expansion up to 65 gates. Construction was recently completed on a
direct access connection between I-75 and the airport.
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Total passenger activity for the Southwest Florida International Airport exceeded 1,100,000 in January
2020, before a historical decrease in traffic in April 2020, when total passengers fell to 53,379 for the
month. As we have noted earlier, the COVID-19 pandemic was keeping both Floridians and non-
Floridians at home. However, recent statistics show that passenger activity has generally returned to
pre-COVID-19 conditions. Total passenger traffic at RSW was 10,343,802 in 2022, up 1.1 percent
from the total passenger traffic in 2019. These numbers indicated that the region continues to improve
from the dip in passenger activity experienced in April 2020.
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The Naples Municipal Airport is a fully certificated air carrier airport. The airport also provides FBO
services for general aviation including fueling and catering. It is the home to charter airlines, aircraft
maintenance facilities, a restaurant, fire/rescue services, mosquito control, car rental agencies, the
Collier County Sheriff’s Aviation Unit, flight schools, the Humane Society, and over 40 additional
aviation and non-aviation businesses. The airport encompasses approximately 732 acres of land,
approximately two miles northeast of Old Naples with convenient access to major roads and
Interstate-75.
POLITICAL-GOVERNMENTAL FACTORS
The county government is headed by a Board of Commissioners. There are five commissioners, each
assigned to a specific geographical area within the county. A County Manager coordinates most of the
departments including county services, public services, community development/environmental
services, utilities and transportation. Collier County has experienced an increase of 11.73% in budget
between FY 2022 and FY 2023. The FY 2023 total net county budget is now $1,959,954,000.
Education: The Collier County public school system currently contains a total of 63 schools with
48,000 students and 3,200 teachers. Collier County averages 3,200 graduates per year. The below
chart shows more detail with regards to the public-school system.
Collier County is home to several colleges and universities. As mentioned, Ave Maria University is a
newly established Catholic University offering liberal arts-oriented baccalaureate degrees as well as
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some graduate degree programs. The county is also home to branch campuses of Florida
Southwestern State College and Florida Gulf Coast University.
Collier County has a high level of education attainment compared to other counties in Florida. Collier
County has 35.9% of the population Age 25+ with a bachelor’s degree or higher compared to 30.5% in
Florida and 32.9% in the United States. Only 10.1% of those within Collier County have less than a
high school education.
SOCIOLOGICAL FACTORS
Recreation: Collier County offers a vast array of natural and historical attractions. Places to visit
include the 52-acre Naples Zoo, the Collier County Museum, the Big Cypress National Preserve, the
Museum of the Everglades, and the Naples Botanical Gardens. In addition to these listed, there are
numerous other reserves, museums, zoos, etc that are available for tourists to visit.
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Healthcare: Within Collier County, there are the Naples Community Hospital, the North Collier
Hospital, Regional Heart Institute, NCH Wellness Centers and various other clinics. As the largest
county in Florida with a total area of 2,305 square miles, these medical facilities must provide services
effectively to the entire county. Helicopter usage cuts critical minutes from transport time. 83.564% of
those living within Collier County have health insurance compared to 86.53% throughout Florida and
90.63% throughout the United States. The highest percentage of those without healthcare coverage is
from people making $25,000 at 20.3%.
SUMMARY
Collier County is located along the west coast of Florida along the Gulf of Mexico. The climate is sub-
tropical with mild winters that allow for year-round enjoyment of the many attractions this area offers.
Collier County is a desirable destination for residents and non-residents alike. Despite these many
positives, portions of Collier County were greatly affected by the past housing debacle which resulted
in a significant number of residential foreclosures. However, trends have been positive in most recent
years. The availability of commercial vacant land, the county's numerous natural attractions, and the
anticipated future population growth are all positive factors that bode well for this area over the long
term.
Collier County is considered to be a great place to live. The presence of a wide variety of industries in
the area offers residents and potential residents’ diverse opportunities for employment. A significant
amount of land is federally held in conservation in eastern portions of the county. There are also
excellent recreational facilities throughout the county, with numerous golf courses, beaches, and
parks.
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LOCATION MAP
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Market Area Map
Market Area is defined as: “The geographic region from which a majority of demand comes and in
which the majority of competition is located. Depending on the market, a market area may be further
subdivided into components such as primary, secondary, and tertiary market areas, or the competitive
market area may be distinguished from the general market area.”
Boundaries: Northern Golden Gate Boulevard
Western
Southern
Collier Boulevard
Everglades Parkway
Eastern Desoto Boulevard
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Life Stage: “Because market areas are perceived, organized, constructed, and used by
people, each has a dynamic quality. Appraisers describe this quality as a
market area’s life cycle. The complimentary land uses that make up
neighborhoods and homogeneous land uses within districts typically evolve
through four stages:
• Growth – a period during which the market area gains public favor
and acceptance
• Stability – a period of equilibrium without marked gains or losses
• Decline – a period of diminishing demand
• Revitalization – a period of renewal, redevelopment, modernization
and increasing demand” 2
It is our opinion that the subject market area is currently in the growth cycle.
Recently the market has shown increased activity. Sales and permit activity
for commercial and residential construction have been increasing.
Public Transportation: Public transportation is provided by Collier Transit
Maintenance/Condition: The majority of improvements are well maintained and in good condition.
Property Compatibility: There is an established retail, commercial, retail and office area along Airport
Pulling Road, Immokalee Road, Pine Ridge Road, Vanderbilt Beach Road,
and Tamiami Trail (US-41). Due to the high traffic counts in this area, retail
uses include shopping centers, restaurants, and various other single-tenant
retailers. Supporting residential abounds along secondary roadways and
land uses are primarily single-family residential or multifamily. Generally
speaking, agricultural and rural residential use is located east of Interstate
Highway 75.
Appeal/Appearance: This area has strong appeal. Appearance ranges from mostly newer
construction and some older structures with generally good to average
appearance.
Neighborhood Access: Good access exists from major north-south corridors including Collier
Boulevard, Goodlette Frank Road, Livingstone Road, Airport Pulling
Road, US-41 (Tamiami Trail), and I-75.
The major east-west corridors include Golden Gate Boulevard, Vanderbilt
Beach Road, Pine Ridge Road, and Immokalee Road.
Police/Fire: Police: Collier County Sheriff / Fire-rescue: Collier County
Development Potential: There is residential, agricultural, and commercial zoned vacant land
available in the market area. Most exists is to the east portion of the market
area. Future commercial development will be seen mainly along US-41,
Airport-Pulling Road, Vanderbilt Beach Road, Immokalee Road and Collier
Boulevard. Agricultural properties being subdivided into smaller rural
residential parcels.
Development Trend: Residential and commercial properties have had decreasing vacancies and
increasing lease rates. Brokers estimate continued improvement in this area
that could lead to new development in the near future.
2 The Appraisal of Real Estate, Fourteenth Edition, , The Appraisal Institute, Chicago, Illinois (U.S., 2014)
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Characteristics of Land
Usage:
Immediate properties in the subject market are mostly agricultural and
residential uses.
Supply of Vacant Tracts: Vacant land is available in the market.
Demand for Vacant Tracts: The supply appears to be in balance with demand at this time.
Neighboring Property Uses: Residential, both single and multi-family, general business, office, retail and
agricultural uses.
Allowable Uses in the
District:
Residential both single and multi-family, general business, office, retail,
agricultural and governmental uses.
Vacancy rates: Commercial/Agricultural: 2% - 5%
Single Family: 3% - 8%
Legal Description of Parent Tract: The legal description was obtained from the most recent Affidavit
of Merger dated February 2, 2016 in OR Book 5243 Page 1645, and is as follows:
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Owner of Record: According to information obtained from the Collier County Property Appraiser’s
office, the current owner of record for the subject property is:
SYMPHONY PROPERTIES LLC
SOUTH DAKOTA TRUST CO. 201 S PHILLIPS AVE # 200.
SIOUX FALLS, SOUTH DAKOTA 57104
Assessed Value and Taxes: According to the Collier County Tax Collector’s Office the subject
property is identified by its Parcel numbers 00301320007, 00300880001, 00299120005,
00300800007, 00299800008, 00299440002, 00301800006, 00299480004, 00299680008,
00299560005, 00299920001. Please note the 2023 tax analysis in tabular form that follows. The tax
summary chart represents a summary of the assessed values, taxable values, ad valorem taxes, non-
ad valorem taxes and millage rates.
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Only the Collier County Property Appraiser’s office can assess properties for taxation purposes. The
actual tax liability is calculated utilizing the millage rate as set by the Collier County Commission then
multiplying this by the assessed value for the property. Should the millage rate or the assessed value
change for the site the tax liability would be different from that as reported herein.
Unpaid Taxes: The Collier County Tax Collector's web site did not indicate any delinquent taxes as of
the effective date of this report.
Site Description: We invite your attention to the aerial and plat maps that follow which show the
relative size, configuration and location of the subject property.
This will be followed by general site information and data as well as information on the physical
characteristics and economic factors that affect the site.
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AERIAL MAP
PLAT MAP
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NORTH BELLE MEADE OVERLAY
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SCREENING REPORT VEGETATION
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Assessor’s Parcel
Number:
00301320007, 00300880001, 00299120005, 00300800007,
00299800008, 00299440002, 00301800006, 00299480004,
00299680008, 00299560005, 00299920001
Location: The subject property is located with access at 1330 20th Street SE,
Naples, Florida.
Physical Characteristics of the Site
Frontage: 1,320 feet along the east side of 20th Street SE.
Total Site Area (Gross): 150 acres (approximately 6,534,000 square feet) per the Collier County
Property Appraiser
Dimensions:
N/A
Shape of Tract: Irregular
Access: Access is along the north side of Immokalee Rd and east side of Red
Hawk Lane
Corner Influence: This property is not located on a corner.
Utilities to Site:
Flood Designation:
Well, Septic, Generator power.
Flood Zone Code AH, Flood Zone Panel 12021C0430H, Dated May
16, 2012. See Flood Map in addenda.
Easements: Typical utility easements are assumed to exist.
Site Improvements: The site has 6 buildings; Metal residential building; Metal storage
building; 3 small wooden cabins; 2 chickee huts; 3 covered shooting
range shelters; 2 large shooting range berms; internal cattle fencing
and gates; dilapidated barn.
Topography: The site is primarily wooded with most of the vacant cleared land
residing in the 40-acre neutral parcel. The property is completely
uplands.
Economic Factors Affecting the Site
Supply of Vacant Tracts: There is a limited amount of vacant agricultural parcels located within
the immediate and general vicinity of the subject property.
Demand for Vacant
Tracts:
Realtors have indicated that demand is improving.
Neighboring Property
Uses:
The subject’s nearby or neighboring uses include agricultural,
conservation and residential.
Land Use Designation: RF-Sending-NBMO and RF-Neutral-NBMO
Zoning Classification: A-Agricultural; RFMUO-Rural Fringe Mixed Use Overlay,
NBMO-North Belle Meade Overlay Sending and Neutral
Allowable Uses in the
District:
Allowable uses in the district will be discussed in detail in the following
comprehensive land use plan classification discussion and zoning
discussion. In addition, they will be considered in the highest and best
use analysis for the property.
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Comprehensive Land Use Plan Classification and Zoning Classification: According to
information obtained from the Collier County Planning Development department, the subject site
has a comprehensive land use plan classification known as RF-Sending and RF-Neutral within the
North Belle Meade Overlay. The zoning for the subject is Rural Agricultural District (A); Rural
Fringe Mixed Use Overlay (RFMUO), North Belle Meade Overlay (NBMO)-Sending and Neutral.
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. Permitted uses
include single-family dwelling and agricultural activities such as crop raising, fruit and nut
production, livestock raising, ranching and groves.
Rural Fringe Mixed Use Overlay (RFMUO)- Purpose and scope. The purpose and intent of the
RFMU District is to provide a transition between the Urban and Estates Designated lands and
between the Urban and Agricultural/Rural and Conservation designated lands farther to the east.
The RFMU District employs a balanced approach, including both regulations and incentives, to
protect natural resources and private property rights, providing for large areas of open space,
and allowing, in designated areas, appropriate types, density and intensity of development. The
RFMU District allows for a mixture of urban and rural levels of service, including limited extension
of central water and sewer, schools, recreational facilities, commercial uses, and essential
services deemed necessary to serve the residents of the RFMU District. The innovative planning
and development techniques which are required and/or encouraged within the RFMU District
were developed to preserve existing natural resources, including habitat for listed species, to
retain a rural, pastoral, or park-like appearance from the major public rights-of-way, and to
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protect private property rights. Establishment of RFMU Zoning Overlay District. In order to
implement the Rural Fringe Mixed Use District (RFMUD) designation in the Future Land Use
Element (FLUE) of the GMP, the RFMU District shall be designated as "RFMUO" on the Official
Zoning Atlas and is hereby established.
*The RFMU District replaces the underlying zoning district where that underlying zoning district is
A, Rural Agricultural, except where development standards are omitted in the RFMU District.
RFMU Sending Lands- RFMU sending lands are those lands that have the highest degree of
environmental value and sensitivity and generally include significant wetlands, uplands, and
habitat for listed species. RFMU sending lands are the principal target for preservation and
conservation. Density may be transferred from RFMU sending lands as provided in LDC section
2.03.07 D.4.c. All NRPAs within the RFMU district are also RFMU sending lands. With the
exception of specific provisions applicable only to NBMO neutral lands, the following standards
shall apply within all RFMU sending lands:
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• Allowable uses where TDR credits have not been severed include agricultural, single-
family dwellings, conservation and recreational uses and oil and gas exploration.
• Allowable uses where TDR credits have been severed include agricultural, cattle grazing,
single-family dwelling (1du/40acres), conservation and recreational uses and oil and gas
exploration.
RFMU Neutral Lands- Neutral Lands have been identified for limited semi-rural residential
development. Available data indicates that Neutral Lands have higher ratio of native vegetation,
and thus higher habitat values, than land designated as Receiving Lands, but these values do
not approach those of Sending Lands. Therefore, these lands are appropriate for limited
development, if such development is directed away from existing native vegetation and habitat. A
lower maximum gross density is prescribed for Neutral Lands when compared to Receiving
Lands.
• Allowable Uses: Agricultural uses, Single-family residential dwelling units, including
mobile homes where a Mobile Home Zoning Overlay exists, Multi-family residential
structures shall be permitted under the Residential Clustering provisions of this plan,
subject to the development of appropriate development standards to ensure that the
transitional semi-rural character of the Rural Fringe Mixed Use District is preserved.
These development standards shall include, but are not limited to: building heights,
design standards, buffers, and setbacks, Group housing uses subject to the following
density/intensity limitations: Family Care Facilities: 1 unit per 5acres; Group Care
Facilities and other Care Housing Facilities: Maximum Floor Area Ratio (FAR) not to
exceed0.45, Sporting and Recreational camps, within which the lodging component shall
not exceed 1 unit per 5 gross acres
North Belle Meade Overlay District (NBMO)- The North Belle Meade Overlay (NBMO) is unique
to the RFMU district because it is surrounded by areas that are vested for development on three
sides. Because this area is largely undeveloped and includes substantial vegetated areas, the
NBMO can and does provide valuable habitat for wildlife, including endangered species. The
NBMO is intended to achieve a balance of both preservation and opportunities for future
development that takes into account resource protection and the relationship between this area
and the Estates developing around the NBMO.
Conditional Use Peninsula Engineering Proposal- The 40-acre neutral parcel has a proposed
conceptual plan laid out by Peninsula Engineering. This conceptual plan would include 70-80
assisted living units as well as approximately 100 independent living units. The site currently
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does not have any utilities available or paved road accessibility. A conditional use must be
approved by the county for this plan to be feasible. As of the effective date the county has not
approved of a conditional use for the 40-acre parcel. We invite your attention to the conceptual plan
that follow which explains in further detail the conditional use.
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Subject Property Photographs
View: East on
Frangipani Avenue
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: East on
Frangipani Avenue
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: South 20th street
SE
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: West on
Frangipani Avenue
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Corner of
Frangipani Avenue and
22nd street SE
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: South 20th street
SE
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Cleared land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Northwest
entrance
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Gate entrance
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
View: Cleared land
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
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Subject Property Photographs
View: Pond
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
View: Dirt path
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
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Subject Property Photographs
View: Shed
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
View: Building 1
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
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Subject Property Photographs
View: Building 2
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
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Subject Property Photographs
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
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Subject Property Photographs
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Cleared land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Cleared land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Southwest corner
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Dirt path
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Dirt path
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
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Subject Property Photographs
View: Southeast corner
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
View: Dirt path
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
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Subject Property Photographs
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
View: Dirt path
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
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Subject Property Photographs
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
View: Vegetation and
Wooded Land
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
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Subject Property Photographs
View: Dirt path
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
View: Well and Septic
Photograph date:
January 17, 2024
Taken by: Brandon
Jonas
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Subject Property Photographs
View: Cleared land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Cleared land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Cleared land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Cleared land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Shooting shed
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
View: Cleared land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
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Subject Property Photographs
View: Cleared land
Photograph date:
January 17, 2024
Taken by:
Brandon Jonas
Section 4 – Highest and Best Use Analysis
The principal of highest and best use is defined as: “The reasonably probable use of property that
results in the highest value. The four criteria that the highest and best use must meet are legal
permissibility, physical possibility, financial feasibility, and maximum productivity.”
• Permissible Use (Legal) - what uses are permitted by zoning and deed restrictions on the site
in question?
• Possible Use- to what uses is it physically possible to put the site in question?
• Feasible Use-, which possible and permissible uses will produce any net return to the owner of
the site?
• Highest and best Use- among the feasible uses, which use will produce the highest net return
or the highest present worth?
Highest and Best Use as Vacant – 40 Acre Neutral NBMO
Legally Permissible: Factors that impact the legally permissible uses for the subject property
include such things as the comprehensive land use plan classification, zoning classification, deed
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restrictions and government regulations. The subject has a future land use designation within the
Agricultural-Rural Mixed-Use District RF-Neutral. The land use classification and zoning
classification permit allows low density residential development (including mobile home) of
1du/per 5 gross acres and agricultural activities.
The conceptual plan laid out by Peninsula Engineering was considered for the highest and best
use but due to the lack of approvals for the property and the absence of utilities and paved road
access we do not consider ALF development as the highest and best use for the subject
property.Based on the land use and zoning classification affecting the property and the
characteristics of the neighborhood, it would appear the subject site would typically be
considered for Agricultural uses, Single-family residential dwellings, Group Care Facilities and
other Care Housing Facilities, or Sporting and Recreational camps.
Physically Possible: The physical aspects of the site impact legally permissible uses. The subject
tract is rectangular in configuration containing 40 acres or 1,742,400 +/- square feet with frontage
along 20th Street SE. Based on the size and configuration of the site, it is our opinion the physically
possible and legally permissible uses of the subject property would include Agricultural uses, Single-
family residential dwellings, Group Care Facilities and other Care Housing Facilities, or Sporting and
Recreational camps.
Economically and Financially Feasible: Any physical possible and legal use of the vacant land that
produces a positive return to the land after considering risk and all costs to create and maintain the
use. The subject is located along the east side of 20th Street SE in Naples, Florida. The surrounding
land uses in the subject’s immediate area include single-family residential, agriculture and
conservation. The most probable buyer would purchase the subject property for Agricultural uses or
Single-family residential dwellings which in our opinion is a financially feasible use.
Maximally Productive: The future land use and zoning classifications allow for low density
residential and agricultural uses. Considering the nearby land uses and the typical buyers, it is our
opinion that the highest and best use as vacant is for Agricultural or Single-family residential dwelling
development.
Highest and Best Use as Vacant – 110 Acre Sending NBMO
Legally Permissible: Factors that impact the legally permissible uses for the subject property
include such things as the comprehensive land use plan classification, zoning classification, deed
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restrictions and government regulations. The subject has a future land use designation within the
Agricultural-Rural Mixed-Use District RF-Sending. The land use classification and zoning
classification permit allows agricultural, cattle grazing, single-family dwelling (1du/40acres),
conservation and recreational uses and oil and gas exploration.
Based on the land use and zoning classification affecting the property and the characteristics of
the neighborhood, it would appear the subject site would typically be considered for agricultural,
cattle grazing, single-family dwelling (1du/40acres), conservation and recreational uses.
Physically Possible: The physical aspects of the site impact legally permissible uses. The subject
tract is rectangular in configuration containing 110 acres or 4,791,600 +/- square feet with no frontage
but access from 20th Street SE. Based on the size and configuration of the site, it is our opinion the
physically possible and legally permissible uses of the subject property would include agricultural,
cattle grazing, single-family dwelling (1du/40acres), conservation and recreational uses.
Economically and Financially Feasible: Any physical possible and legal use of the vacant land that
produces a positive return to the land after considering risk and all costs to create and maintain the
use. The subject is located within the North Belle Meade District with access along the 20th Street SE
in Naples, Florida. The surrounding land uses in the subject’s immediate area include single-family
residential, agriculture and conservation. The most probable buyer would purchase the subject
property for agricultural, cattle grazing, single-family dwelling (1du/40acres), conservation and
recreational uses which in our opinion is a financially feasible use.
Maximally Productive: The future land use and zoning classifications allow for low density
residential and agricultural uses. Considering the nearby land uses and the typical buyers, it is our
opinion that the highest and best use as vacant is for agricultural, cattle grazing, single-family dwelling
(1du/40acres), conservation and recreational uses.
Highest and Best Use as Improved
The subject property is currently vacant agricultural land with supporting improvements that are in line
with the allowable uses. Typically, improvements of these nature do not contribute value to high
acreage agricultural land like the subject property. The subject property as vacant represents the
highest and best use.
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Section 5 – Valuation of the Subject
VALUE ESTIMATE BY THE COST APPROACH
Cost Approach is defined as: “A set of procedures through which a value indication is derived for the
fee simple estate by estimating the current cost to construct a reproduction of (or replacement for) the
existing structure, including an entrepreneurial incentive or profit; deducting depreciation from the total
cost; and adding the estimated land value. Adjustments may then be made to the indicated value of
the fee simple estate in the subject property to reflect the value of the property interest being
appraised.” Since there are no significant improvements of value to consider, the cost approach will
not be used in this appraisal.
VALUE ESTIMATE BY THE INCOME APPROACH
The Income Approach is defined as “Specific appraisal techniques applied to develop a value
indication for a property based on its earning capability and calculated by the capitalization of property
income.” This conversion can be accomplished in two ways. One year's income expectancy can be
capitalized at a market-derived capitalization rate or at a capitalization rate that reflects a specified
income pattern, return on investment, and change in the value of the investment. Alternatively, the
annual cash flows for the holding period and the reversion can be discounted at a specified yield rate.”
The Income Approach is widely applied in appraising income-producing properties. Anticipated future
income and/or reversions are discounted to a present worth figure through the capitalization process.
Since vacant land is typically not purchased for its ability to generate a positive cash stream, the
income approach will not be used in this appraisal.
VALUE ESTIMATE BY THE SALES COMPARISON APPROACH
Sales Comparison Approach is defined as: “The process of deriving a value indication for the subject
property by comparing sale of similar properties to the property being appraised, identifying
appropriate units of comparison, and making adjustments to the sale prices (or unit prices, as
appropriate) of the comparable properties based on relevant, market-derived elements of comparison.
The sales comparison approach may be used to value improved properties, vacant land, or land being
considered as though vacant when an adequate supply of comparable sales is available.”
The Sales Comparison Approach will be used, and it involves the direct comparison of sales of similar
properties, adjustments for variances, and correlation of the results into a property value indication.
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Adjustments to the sale prices of competitive properties selected for comparison are considered as
they relate to the subject property and to the various dissimilar investment features.
The application of this approach produces an estimate of value for a property by comparing it with
similar properties which have been sold or are currently offered for sale in the same or competing
areas.
Site Valuation: The valuation of the subject site involves research, analysis, and comparison of sales
of similar properties to the subject. There are several units of comparison applicable for appraisal
purposes. Due to the nature of the subject property and comparable sales, it is our opinion the sales
price per acre would be the most appropriate for utilization. This unit is calculated by dividing the sale
price of the comparable sales by the number of acres contained within the sale.
The subject site is being valued based on highest and best use; and as such, data selection begins by
limiting the sales considered to include only those sites with a highest and best use similar to that of
the subject. From these sales, only the most similar to the subject in terms of physical and locational
characteristics were selected. The appraiser’s research uncovered multiple sales of sites that were
considered appropriate for comparison purposes. These transactions were included in the analysis
process.
In the analysis process, the analyst will utilize a qualitative procedure. In the initial step the appraiser
will utilize a cumulative adjustment for each of the sale properties considering property rights,
financing, conditions of sale, expenditures immediately after sale, and market conditions (commonly
known as time). As the adjustments are cumulative in nature, they must be performed in the order in
which they occur.
Next the analyst will utilize a qualitative procedure by considering physical characteristics including
location, site size, future land use, zoning, access, and topography. These properties will be rated and
compared to the subject. They will be considered as similar, inferior, or superior and adjusted
accordingly. After completion of the analysis of each individual sale based on its physical
characteristics, an overall net adjustment will be made to each of the sale properties. After completion
of the analysis and adjustment process, the appraiser will estimate an appropriate value per acre and
multiply this by the number of acres contained within the property in order to estimate the market value
for the subject site. This value estimate will then be rounded to an appropriate figure for appraisal
purposes.
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We now invite your attention to a land sales location map which follows. This map shows the relative
location of each of the sales to that of the subject property.
Following the land sales map will be a land sales exhibit which will contain land sales data sheets for
each transaction utilized in the analysis process showing the relative size, configuration and location of
the site as well as the relative information for each individual sales transaction. Following the land
sales exhibit will be a sales grid showing the relevant information for the subject and each of the
comparable sales as well as the adjustments and factors which were considered in providing an
overall adjustment for each of the comparable properties.
LAND SALES LOCATION MAP
Please consider the sale exhibits on the following pages. The exhibits furnish aerial views along with
locational, site and financial information for each of the sales.
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COMPARABLE 1
Property Reference:
Property Type: Agriculture Vacant Land
Address: 2380 Woodland Grade Road
Naples, FL 34117
3022County: Collier
Location:
STRAP/ID: 00322560008
Grantor: Ivonne Mercado Barkman
Grantee: Terrence & Viktoria Hsu
Legal Data:
Sale Date: November 09, 2023
Sale Price: $160,000
Sale Price per Sq. Ft.: $0.73
Sale Price per Acre: $32,000
Price per Dev. Unit: N/A
Recording: Inst# 6475808
Interest Conveyed: Fee-simple
Deed Conveyed: Warranty Deed
Land Use: RFMUO-NRPA-NBMO-SENDING
Zoning: Agricultural
Highest and Best Use: Agricultural
CNA Data # 3064
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Site Data:
Site Dimensions: 340' X 660'
Site Size: 217,800 square feet, 5.000 acres
Development Units: N/A
Development Density/Acre: N/A
Shape: Rectangular
Topography: Level
Corner/Visibility Influence: N/A
Utilities: Well & Septic Available
Access: No Road Access
Wetlands/Uplands: 80% Uplands
Soils: Typical
Sale Analysis:
Sale Price: $160,000
Financing: Cash to Seller
Price per SF: $0.73
Price per Acre: $32,000
Price per Dev. Unit: N/A
Sale Confirmation:
Verification: Milly Mercado, 3056097784
Verifying Appraiser: Brandon Jonas, January 19, 2024
Sale History: None in the last 3 years
Comments:
This is a sale of 5 acres of vacant land that has no frontage or direct access located in the North
Belle Meade area in Bonita Springs. The sale contains one parcel that is zoned agricultural and is
80% uplands. The parcel has a sending value designation. The parcel sold for $160,000 on
November 9, 2023. The sale details were verified by the listing agent.
CNA Data # 3064
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COMPARABLE 2
Property Reference:
Property Type: Agriculture Vacant Land
Address: 1634,1630,1626 Frangipani Avenue
Naples, FL 34117
County: Collier
Location:
STRAP/ID: 00302000009, 00302040001, 00302080003
Grantor: Property Offer Pro LLC
Grantee: Shermania 29 LLC
Legal Data:
Sale Date: November 03, 2023
Sale Price: $390,000
Sale Price per Sq. Ft.: $0.61
Sale Price per Acre: $26,531
Price per Dev. Unit: N/A
Recording: Inst# 6473802
Interest Conveyed: Fee-simple
Deed Conveyed: Warranty Deed
Land Use: RFMUO-NBMO-NEUTRAL
Zoning: Agricultural
Highest and Best Use: Agricultural
CNA Data # 3059
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Site Data:
Site Dimensions: 1325' X 480'
Site Size: 640,332 square feet, 14.700 acres
Development Units: N/A
Development Density/Acre: N/A
Shape: Rectangular
Topography: Level
Corner/Visibility Influence: N/A
Utilities: Well & Septic Available
Access: No Road Access
Wetlands/Uplands: 70% Uplands
Soils: Typical
Sale Analysis:
Sale Price: $390,000
Financing: Cash to Seller
Price per SF: $0.61
Price per Acre: $26,531
Price per Dev. Unit: N/A
Sale Confirmation:
Verification: Juan Chaparro, 2392005857
Verifying Appraiser: Brandon Jonas, January 19, 2024
Sale History: Sold for $235,000 on May 10, 2023
Comments:
This is a sale of 3 separate parcels with 15 acres of vacant land that has no frontage or direct
access located in the North Belle Meade area in Bonita Springs. The sale contains one parcel
that is zoned agricultural and is 70% uplands. The parcel has a neutral value designation. The
parcels sold for $390,000 on November 3, 2023. The sale details were verified by the listing
agent.
CNA Data # 3059
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COMPARABLE 3
Property Reference:
Property Type: Agriculture Vacant Land
Address: Vacant Land Kreske Way
Naples, FL 34117
County: Collier
Location:
STRAP/ID: 00306320002
Grantor: Run He Lie
Grantee: Joseph Hellstern & Shannon Nelson
Legal Data:
Sale Date: October 13, 2023
Sale Price: $105,000
Sale Price per Sq. Ft.: $0.63
Sale Price per Acre: $27,632
Price per Dev. Unit: N/A
Recording: Inst# 6465780
Interest Conveyed: Fee-simple
Deed Conveyed: Warranty Deed
Land Use: RFMUO-NBMO-SENDING
Zoning: Agricultural
Highest and Best Use: Agricultural
CNA Data # 3062
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Site Data:
Site Dimensions: 1320' X 125'
Site Size: 165,528 square feet, 3.800 acres
Development Units: N/A
Development Density/Acre: N/A
Shape: Rectangular
Topography: Level
Corner/Visibility Influence: N/A
Utilities: Well & Septic Available
Access: No Road Access
Wetlands/Uplands: Wetlands
Soils: Typical
Sale Analysis:
Sale Price: $105,000
Financing: Cash to Seller
Price per SF: $0.63
Price per Acre: $27,632
Price per Dev. Unit: N/A
Sale Confirmation:
Verification: Fred Kermani, 2396594960
Verifying Appraiser: Brandon Jonas, January 19, 2024
Sale History: None in the last 3 years
Comments:
This is a sale of 3.8 acres of vacant land that has no frontage or direct access located in the
North Belle Meade area in Bonita Springs. The sale contains one parcel that is zoned agricultural
and is completely wetlands. The parcel has a sending value designation. The parcels sold for
$105,000 on October 13, 2023. The sale details were verified by the listing agent.
CNA Data # 3062
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COMPARABLE 4
Property Reference:
Property Type: Agriculture Vacant Land
Address: 1702 Frangipani Avenue
Naples, FL 34117
County: Collier
Location:
STRAP/ID: 00302000009
Grantor: Carlos M Tillan
Grantee: Shermania 30 LLC
Legal Data:
Sale Date: July 31, 2023
Sale Price: $120,000
Sale Price per Sq. Ft.: $0.56
Sale Price per Acre: $24,490
Price per Dev. Unit: N/A
Recording: Inst# 6436104
Interest Conveyed: Fee-simple
Deed Conveyed: Warranty Deed
Land Use: RFMUO-NBMO-NEUTRAL
Zoning: Agricultural
Highest and Best Use: Agricultural
CNA Data # 3058
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Site Data:
Site Dimensions: 1325' X 160'
Site Size: 213,444 square feet, 4.900 acres
Development Units: N/A
Development Density/Acre: N/A
Shape: Rectangular
Topography: Level
Corner/Visibility Influence: N/A
Utilities: Well & Septic Available
Access: No Road Access
Wetlands/Uplands: Uplands
Soils: Typical
Sale Analysis:
Sale Price: $120,000
Financing: Cash to Seller
Price per SF: $0.56
Price per Acre: $24,490
Price per Dev. Unit: N/A
Sale Confirmation:
Verification: Alex Gomez, 2394049479
Verifying Appraiser: Brandon Jonas, January 19, 2024
Sale History: None in the last 3 years
Comments:
This is a sale of 5 acres of vacant land that has no frontage or direct access located in the North
Belle Meade area in Bonita Springs. The sale contains one parcel that is zoned agricultural and is
completely uplands. The parcel has a neutral value designation. The parcels sold for $120,000 on
July 31, 2023. The sale details were verified by the listing agent.
CNA Data # 3058
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COMPARABLE 5
Property Reference:
Property Type: Agriculture Vacant Land
Address: Vacant Land Ivy WAY
Naples, FL 34117
County: Collier
Location:
STRAP/ID: 00318960007
Grantor: R3 Trading Co LLC
Grantee: Bruce A. Gelinas
Legal Data:
Sale Date: June 05, 2023
Sale Price: $117,500
Sale Price per Sq. Ft.: $0.55
Sale Price per Acre: $23,980
Price per Dev. Unit: N/A
Recording: Inst# 6416538
Interest Conveyed: Fee-simple
Deed Conveyed: Warranty Deed
Land Use: RFMUO-NRPA-NBMO-SENDING
Zoning: Agricultural
Highest and Best Use: Agricultural
CNA Data # 3057
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Site Data:
Site Dimensions: 1325' X 160'
Site Size: 213,444 square feet, 4.900 acres
Development Units: N/A
Development Density/Acre: N/A
Shape: Rectangular
Topography: Level
Corner/Visibility Influence: N/A
Utilities: Well & Septic Available
Access: No Road Access
Wetlands/Uplands: Uplands
Soils: Typical
Sale Analysis:
Sale Price: $117,500
Financing: Cash to Seller
Price per SF: $0.55
Price per Acre: $23,980
Price per Dev. Unit: N/A
Sale Confirmation:
Verification: Stephen Hachey, 8136426030
Verifying Appraiser: Brandon Jonas, January 19, 2024
Sale History: Sold for $25,000 on April 22, 2021
Comments:
This is a sale of 5 acres of vacant land that has no frontage or direct access located in the North
Belle Meade area in Bonita Springs. The sale contains one parcel that is zoned agricultural and is
completely uplands. The parcel has a sending value designation. The parcels sold for $117,500
on June 5, 2023. The sale details were verified by the listing agent.
CNA Data # 3057
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COMPARABLE 6
Property Reference:
Property Type: Agriculture Vacant Land
Address: 1760 Ivy Way
Naples, FL 34117
County: Collier
Location:
STRAP/ID: 00306240001
Grantor: Carlos W. Alvarez
Grantee: Kathleen Oliva
Legal Data:
Sale Date: April 18, 2023
Sale Price: $135,000
Sale Price per Sq. Ft.: $0.63
Sale Price per Acre: $27,551
Price per Dev. Unit: N/A
Recording: Inst# 6398300
Interest Conveyed: Fee-simple
Deed Conveyed: Warranty Deed
Land Use: RFMUO-NBMO-SENDING
Zoning: Agricultural
Highest and Best Use: Agricultural
CNA Data # 3060
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Site Data:
Site Dimensions: 1325' X 160'
Site Size: 213,444 square feet, 4.900 acres
Development Units: N/A
Development Density/Acre: N/A
Shape: Rectangular
Topography: Level
Corner/Visibility Influence: N/A
Utilities: Well & Septic Available
Access: Poor Dirt Road Access
Wetlands/Uplands: Uplands
Soils: Typical
Sale Analysis:
Sale Price: $135,000
Financing: Cash to Seller
Price per SF: $0.63
Price per Acre: $27,551
Price per Dev. Unit: N/A
Sale Confirmation:
Verification: Jean Adams, 2392694538
Verifying Appraiser: Brandon Jonas, January 19, 2024
Sale History: None in the last 3 years
Comments:
This is a sale of 5 acres of vacant land that has frontage along dirt road Ivy Way located in the
North Belle Meade area in Bonita Springs. The sale contains one parcel that is zoned agricultural
and is completely uplands. The parcel has a sending value designation. The parcels sold for
$135,000 on April 18, 2023. The sale details were verified by the listing agent.
CNA Data # 3060
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COMPARABLE 7
Property Reference:
Property Type: Agriculture Vacant Land
Address: Vacant Land Tobias
Naples, FL 34117
County: Collier
Location:
STRAP/ID: 00299960003
Grantor: Santosh, Shobha, Chacko, & Accamma Jacob
Grantee: Shermania 29 LLC
Legal Data:
Sale Date: August 06, 2022
Sale Price: $100,000
Sale Price per Sq. Ft.: $0.46
Sale Price per Acre: $20,000
Price per Dev. Unit: N/A
Recording: Inst# 6297147
Interest Conveyed: Fee-simple
Deed Conveyed: Warranty Deed
Land Use: RFMUO-NBMO-SENDING
Zoning: Agricultural
Highest and Best Use: Agricultural
CNA Data # 3061
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Site Data:
Site Dimensions: 365' X 660'
Site Size: 217,800 square feet, 5.000 acres
Development Units: N/A
Development Density/Acre: N/A
Shape: Rectangular
Topography: Level
Corner/Visibility Influence: N/A
Utilities: Well & Septic Available
Access: No Road Access
Wetlands/Uplands: Uplands
Soils: Typical
Sale Analysis:
Sale Price: $100,000
Financing: Cash to Seller
Price per SF: $0.46
Price per Acre: $20,000
Price per Dev. Unit: N/A
Sale Confirmation:
Verification: David Huff, 2396491990
Verifying Appraiser: Brandon Jonas, January 19, 2024
Sale History: None in the last 3 years
Comments:
This is a sale of 5 acres of vacant land that has no frontage or direct access located in the North
Belle Meade area in Bonita Springs. The sale contains one parcel that is zoned agricultural and is
completely uplands. The parcel has a sending value designation. The parcels sold for $100,000
on August 6, 2022. The sale details were verified by the listing agent.
CNA Data # 3061
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COMPARABLE 8
Property Reference:
Property Type: Agriculture Vacant Land
Address: 1190 Ivy Way
Naples, FL 34117
County: Collier
Location:
STRAP/ID: 00302800005
Grantor: Noel & Yilianna Hernandez
Grantee: Best Homes Builder at Golden Gate LLC
Legal Data:
Sale Date: July 14, 2022
Sale Price: $175,000
Sale Price per Sq. Ft.: $0.82
Sale Price per Acre: $35,714
Price per Dev. Unit: N/A
Recording: Inst# 6318377
Interest Conveyed: Fee-simple
Deed Conveyed: Warranty Deed
Land Use: RFMUO-NBMO-NEUTRAL
Zoning: Agricultural
Highest and Best Use: Agricultural
CNA Data # 3065
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Site Data:
Site Dimensions: 1325' X 160'
Site Size: 213,444 square feet, 4.900 acres
Development Units: N/A
Development Density/Acre: N/A
Shape: Rectangular
Topography: Level
Corner/Visibility Influence: N/A
Utilities: Well & Septic Available
Access: Poor Dirt Road Access
Wetlands/Uplands: Uplands
Soils: Typical
Sale Analysis:
Sale Price: $175,000
Financing: Cash to Seller
Price per SF: $0.82
Price per Acre: $35,714
Price per Dev. Unit: N/A
Sale Confirmation:
Verification: MLS & Public Record
Verifying Appraiser: Brandon Jonas,
Sale History: None in the last 3 years
Comments:
This is a sale of 5 acres of vacant land that has frontage along dirt road Ivy Way located in the
North Belle Meade area in Bonita Springs. The sale contains one parcel that is zoned agricultural
and is completely uplands. The parcel has a neutral value designation. The parcels sold for
$175,000 on July 14, 2022. The sale details were verified by MLS and public record.
CNA Data # 3065
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COMPARABLE 9
Property Reference:
Property Type: Agriculture Vacant Land
Address: 2120 Frangipani Avenue
Naples, FL 34117
County: Collier
Location:
STRAP/ID: 00301480002
Grantor: Timothy T. Lainhart & Anthony I. Lainhart
Grantee: Shermania 29 LLC
Legal Data:
Sale Date: February 28, 2022
Sale Price: $150,000
Sale Price per Sq. Ft.: $0.69
Sale Price per Acre: $30,000
Price per Dev. Unit: N/A
Recording: Inst# 6215875
Interest Conveyed: Fee-simple
Deed Conveyed: Warranty Deed
Land Use: RFMUO-NBMO-NEUTRAL
Zoning: Agricultural
Highest and Best Use: Agricultural
CNA Data # 3063
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Site Data:
Site Dimensions: 340' X 670'
Site Size: 217,800 square feet, 5.000 acres
Development Units: N/A
Development Density/Acre: N/A
Shape: Rectangular
Topography: Level
Corner/Visibility Influence: N/A
Utilities: Well & Septic Available
Access: Dirt Road Access
Wetlands/Uplands: 60% Uplands
Soils: Typical
Sale Analysis:
Sale Price: $150,000
Financing: Cash to Seller
Price per SF: $0.69
Price per Acre: $30,000
Price per Dev. Unit: N/A
Sale Confirmation:
Verification: MLS & Public Record
Verifying Appraiser: Brandon Jonas,
Sale History: None in the last 3 years
Comments:
This is a sale of 5 acres of vacant land that has dirt road access along Frangipani Avenue
located in the North Belle Meade area in Bonita Springs. The sale contains one parcel that is
zoned agricultural and is 60% uplands. The parcel has a neutral value designation. The parcels
sold for $150,000 on February 28, 2022. The sale details were verified by MLS and Public record.
CNA Data # 3063
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Land Sales Qualitative One Parcel 40 Acres Neutral
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Adjustment Analysis: The sales were compared to each other individually and collectively as well as
being compared to the subject property in order to assist in the adjustment process.
Real Property Rights Conveyed: “An element of comparison in the sales comparison approach;
comparable sales can be adjusted for the effect of differences in the real property rights (fee simple,
leased fee, leasehold, easements, or other encumbrances, etc.) involved in the transactions being
compared.” In this analysis all property rights conveyed were fee simple, no adjustments were
necessary.
Financing Terms: “The manner in which a transaction was financed; an element of comparison in
the sales comparison approach whereby comparable properties can be adjusted for the influence of
differences between a transaction’s financing terms and those assumed in the valuation of a subject
property.” In this analysis the transactions were either market financed or cash to the seller, no
adjustments were necessary.
Conditions of Sale: “An element of comparison in the sales comparison approach; comparable
properties can be adjusted for differences in the motivations of either the buyer or a seller in a
transaction.” In this analysis, the sales were all at “arm’s length” including no conditions of sale.
Expenditures made immediately after purchase: “An element of comparison in the sales
comparison approach; comparable properties can be adjusted for any additional investment (e.g.,
curing deferred maintenance) that the buyer needed to make immediately after purchase for the
properties to have similar utility to the subject property being valued.” The appraisers are not aware of
any expenditures made immediately after the sale of these transactions.
Market Conditions: “An element of comparison in the sales comparison approach; comparable
properties can be adjusted for differences in the points in the real estate cycle at which the
transactions occur. Sometimes called a time adjustment because the differences in dates of sale are
often compared, although the usage can be misleading because property values do not change
merely as the result of the passage of time.”
The sales transactions occurred between February 2022 (Sale Nine) and November 2023 (Sale One).
We compared and contrasted the transactions utilized in our analysis as well as considering other
sales from the marketplace. We found no market conditions adjustment was necessary for the sales
as a clearly identified adjustment was not found.
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Physical Characteristics: Next the sales were considered and compared with one another and the
subject for physical characteristics. These include location, size, future land use, zoning, access, and
topography. This process involves a quantitative analysis.
Location: The subject property is located along the east side of 20th street SE in Naples, Florida. The
comparable sales are all considered similar in this category.
Size: The subject property contains 1,742,400 square feet or 40 acres and the comparables range in
size from 3.8 acres to 14.7 acres. Typically, as land size increase, the value per acre decreases due to
economies of scale. All of the sales with the exception of sale two were superior for smaller site sizes.
Sale two was deemed similar to the subject property.
Future Land Use & Zoning Classification: The subject property has an Agriculture/Rural Mixed-Use
District future land use and A zoning classification. The sales all having zoning and land use
classifications that are relatively similar to the subject.
Utilities: The subject property has limited utilities available to site as is typically of agricultural land.
The comparable sales are all considered similar in this category.
Access: The subject property has frontage and access along 20th Street SE. Sales one, two, three,
four, five, & seven have no road access to the site and were adjusted deemed inferior for accessibility.
Wetlands: The subject is fully upland on site. Sale Three was deemed inferior for containing
wetlands. The remaining sales have similar minimal wetlands present and were deemed similar.
Topography: The subject property is level and mostly cleared land. The comparable sales are all
considered similar in this category.
Miscellaneous: The subject contains Metal residential building; Metal storage building; 3 small
wooden cabins as typically of agricultural land. While all sales contain no improvement, Typically,
improvements of these nature do not contribute value to high acreage agricultural land like the subject
property. The remaining sales were all considered as relatively similar in this regard.
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Final Analysis
This Sales Comparison Approach has utilized nine sales ranging in price per acre from a low of
$20,000 to a high of $35,714.29, with mean-median values of $27,544.10 and $27,551.02
respectively. When selecting the comparable sales most similar to the subject the criteria utilized
include location, size, future land use & zoning classification, utilities, access, wetlands, and
topography. This is displayed in the chart below.
It is our opinion the most appropriate unit value for the subject is within the upper range of our values
closer to the adjusted price per acre of neutral designated properties. We have concluded to a value of
$30,000 per acre which is also near upper end of our price per acre noted above. location, size, future
land use & zoning classification, utilities, access, wetlands, and topography were considered in
estimating an appropriate unit value. Multiplying this unit value times the land area of 40 acres equals
an estimated value of $1,200,000.
Therefore, when utilizing the Sale Comparison Approach to value it is our opinion that the
subject property “As-Is” fee simple interest as of the date of inspection of January 17, 2024
has an estimated value of $1,200,000.
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Land Sales Qualitative Ten Parcels 110 Acres Sending
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Adjustment Analysis: The sales were compared to each other individually and collectively as well as
being compared to the subject property in order to assist in the adjustment process.
Real Property Rights Conveyed: “An element of comparison in the sales comparison approach;
comparable sales can be adjusted for the effect of differences in the real property rights (fee simple,
leased fee, leasehold, easements, or other encumbrances, etc.) involved in the transactions being
compared.” In this analysis all property rights conveyed were fee simple, no adjustments were
necessary.
Financing Terms: “The manner in which a transaction was financed; an element of comparison in
the sales comparison approach whereby comparable properties can be adjusted for the influence of
differences between a transaction’s financing terms and those assumed in the valuation of a subject
property.” In this analysis the transactions were either market financed or cash to the seller, no
adjustments were necessary.
Conditions of Sale: “An element of comparison in the sales comparison approach; comparable
properties can be adjusted for differences in the motivations of either the buyer or a seller in a
transaction.” In this analysis, the sales were all at “arm’s length” including no conditions of sale.
Expenditures made immediately after purchase: “An element of comparison in the sales
comparison approach; comparable properties can be adjusted for any additional investment (e.g.,
curing deferred maintenance) that the buyer needed to make immediately after purchase for the
properties to have similar utility to the subject property being valued.” The appraisers are not aware of
any expenditures made immediately after the sale of these transactions.
Market Conditions: “An element of comparison in the sales comparison approach; comparable
properties can be adjusted for differences in the points in the real estate cycle at which the
transactions occur. Sometimes called a time adjustment because the differences in dates of sale are
often compared, although the usage can be misleading because property values do not change
merely as the result of the passage of time.”
The sales transactions occurred between February 2022 (Sale Nine) and November 2023 (Sale One).
We compared and contrasted the transactions utilized in our analysis as well as considering other
sales from the marketplace. We found no market conditions adjustment was necessary for the sales
as a clearly identified adjustment was not found.
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Physical Characteristics: Next the sales were considered and compared with one another and the
subject for physical characteristics. These include location, size, future land use, zoning, access, and
topography. This process involves a quantitative analysis.
Location: The subject property is located along the east side of 20th street SE in Naples, Florida. The
comparable sales are all considered similar in this category and were deemed as such.
Size: The subject property contains 4,791,600 square feet or 110 acres and the comparables range
in size from 3.8 acres to 14.7 acres. Typically, as land size increase, the value per acre decreases due
to economies of scale. The subject property contains 10 parcels ranging in size from 5 acres to 20
acres, The comparable sales are all considered similar in regard to site size.
Future Land Use & Zoning Classification: The subject property has an Agriculture/Rural Mixed-Use
District future land use and A zoning classification. The sales all having zoning and land use
classifications that are relatively similar to the subject.
Utilities: The subject property has limited utilities available to site as is typically of agricultural land.
The comparable sales are all considered similar in this category.
Access: The subject property has no road frontage and is accessible from the 40-acre lot along 20th
Street SE. Sales six, eight, & nine have dirt road access and frontage on the site and were regarded
as superior for accessibility.
Wetlands: The subject is fully upland on site. Sale Three was deemed inferior for containing
wetlands. The remaining sales have similar minimal wetlands present and were deemed similar.
Topography: The subject property is level and mostly cleared land. The comparable sales are all
considered similar in this category.
Miscellaneous: The subject contains Metal residential building; Metal storage building; 3 small
wooden cabins as typically of agricultural land. While all sales contain no improvement, Typically,
improvements of these nature do not contribute value to high acreage agricultural land like the subject
property. The remaining sales were all considered as relatively similar in this regard.
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Final Analysis
This Sales Comparison Approach has utilized nine sales ranging in price per acre from a low of
$20,000 to a high of $35,714.29, with mean-median values of $27,544.10 and $27,551.02
respectively. When selecting the comparable sales most similar to the subject the criteria utilized
include location, size, future land use & zoning classification, utilities, access, wetlands, and
topography. This is displayed in the chart below.
It is our opinion the most appropriate unit value for the subject is mean & median range of our values.
We have concluded to a value of $28,000 per acre which is also near mean & median end of our price
per acre noted above. location, size, future land use & zoning classification, utilities, access, wetlands,
and topography were considered in estimating an appropriate unit value. Multiplying this unit value
times the land area of 110 acres equals an estimated value of $3,080,000.
Therefore, when utilizing the Sale Comparison Approach to value it is our opinion that the
subject property “As-Is” fee simple interest as of the date of inspection of January 17, 2024
has an estimated value of $3,080,000.
Section 6 – Reco nciliation of Value
The Cost Approach is based upon the principal of substitution which states that a prudent purchaser
would not pay more for a property than the amount required to purchase a similar site and construct
similar improvements without undue delay, producing a property of equal desirability and utility. As
noted previously, the subject property has no improvements of significant value to consider and
therefore the cost approach was not utilized.
The Income Approach to value was not included and not considered to be applicable in this appraisal.
The Sales Comparison Approach was applied. An adequate number of closed sales were available to
reflect the actions of buyers and sellers in the subject’s marketplace as of the effective date of value.
We have concluded to the values used in the Sales Comparison Approach and we have arrived at an
estimate for the subject property(s).
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Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the 40-acre parcel designated Rural Lands Mixed
Use District Neutral Lands, under the extraordinary assumptions as discussed in this report, warranted
a market value in its “as is” condition in fee simple ownership on January 17, 2024 of:
ONE MILLION TWO HUNDRED THOUSAND DOLLARS ..................................... ($1,200,000.00).
Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the ten parcels totaling 110-acres designated Rural
Lands Mixed Use District Sending Lands, under the extraordinary assumptions as discussed in this
report, warranted a market value in its “as is” condition in fee simple ownership on January 17, 2024
of:
THREE MILLION EIGHTY THOUSAND DOLLARS............................................... ($3,080,000.00).
Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the eleven parcels totaling 150-acres, under the
extraordinary assumptions as discussed in this report, warranted a market value in its “as is” condition
in fee simple ownership on January 17, 2024 of:
FOUR MILLION TWO HUNDRED EIGHTY THOUSAND DOLLARS ................... ($4,280,000.00).
Please refer to the attached appraisal report, plus exhibits, for documentation of the value estimates
contained herein. It has been a pleasure to assist you in this assignment. If you have any questions
concerning the analysis, or if Carlson, Norris and Associates can be of further service, please contact
us.
Respectfully submitted,
Michael Jonas, MAI, AI-GRS, CCIM
State-certified general real estate appraiser RZ2623
Brandon Jonas
State-registered trainee appraiser RI25835
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Section 7 – Certification and Limiting Conditions
Certification of Michael Jonas, MAI, AI-GRS, CCIM
I certify to the best of my knowledge and belief:
• The statements of fact contained in this report are true and correct.
• The reported analyses, opinions, and conclusions are limited only by the reported assumptions and
limiting conditions and is our personal, impartial and unbiased professional analyses, opinions, and
conclusions.
• I have no present or prospective interest in or bias with respect to the property that is the subject of
this report and have no personal interest in or bias with respect to the parties involved with this
assignment.
• My engagement in this assignment was not contingent upon developing or reporting predetermined
results.7
• My compensation for completing this assignment is not contingent upon the development or
reporting of a predetermined value or direction in value that favors the cause of the client, the
amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent
event directly related to the intended use of this appraisal.
• This appraisal assignment was not based upon a requested minimum valuation, a specific valuation,
or the approval of a loan.
• My analyses, opinions, and conclusions were developed, and this report has been prepared, in
conformity with the Uniform Standards of Professional Appraisal Practice of The Appraisal
Foundation and the requirements of the Code of Professional Ethics and the Standards of
Professional Appraisal Practice of the Appraisal Institute, as well as the requirements of the State of
Florida relating to review by its duly authorized representatives. This report also conforms to the
requirements of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989
(FIRREA).
• The reported analyses, opinions and conclusions were developed, and this report has been
prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of
Professional Practice of the Appraisal Institute.
• The use of this report is subject to the requirements of the Appraisal Institute relating to review by its
duly authorized representatives.
• As of the date of this report, Michael Jonas has completed the Standards and Ethics Education
Requirements for Candidates of the Appraisal Institute.
• As of the date of this report, Michael Jonas has completed the continuing education program for
Designated Members of the Appraisal Institute.
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• Michael Jonas has completed the requirements of education for registration through the State of
Florida is current until November 30, 2024.
• Michael Jonas has not made a personal inspection of the property that is the subject of this report.
• Although other appraisers may be contacted as a part of our routine market research investigations,
absolute client confidentiality and privacy are maintained at all times with regard to this assignment
without conflict of interest.
• Michael Jonas is in compliance with the Competency Provision in the USPAP as adopted in
FIRREA 1989 and has sufficient education and experience to perform the appraisal of the subject
property.
• Michael Jonas has not appraised the subject in the last three years. He has not provided any other
services related to the property in the last three years.
• Brandon Jonas, Registered Appraiser Trainee License: RI25835, contributed twenty hours relating
to development, research, inspection, and writing of this report.
• I, the supervisory appraiser of a registered appraiser trainee who contributed to the development or
communication of this appraisal, hereby accepts full and complete responsibility for any work
performed by the registered appraisal trainee named in this report as if it were my own work.
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Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the 40-acre parcel designated Rural Lands Mixed
Use District Neutral Lands, under the extraordinary assumptions as discussed in this report, warranted
a market value in its “as is” condition in fee simple ownership on January 17, 2024 of:
ONE MILLION TWO HUNDRED THOUSAND DOLLARS ..................................... ($1,200,000.00).
Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the ten parcels totaling 110-acres designated Rural
Lands Mixed Use District Sending Lands, under the extraordinary assumptions as discussed in this
report, warranted a market value in its “as is” condition in fee simple ownership on January 17, 2024
of:
THREE MILLION EIGHTY THOUSAND DOLLARS............................................... ($3,080,000.00).
Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the eleven parcels totaling 150-acres, under the
extraordinary assumptions as discussed in this report, warranted a market value in its “as is” condition
in fee simple ownership on January 17, 2024 of:
FOUR MILLION TWO HUNDRED EIGHTY THOUSAND DOLLARS ................... ($4,280,000.00).
Please refer to the attached appraisal report, plus exhibits, for documentation of the value estimates
contained herein. It has been a pleasure to assist you in this assignment. If you have any questions
concerning the analysis, or if Carlson, Norris and Associates can be of further service, please contact
us.
Respectfully submitted,
Michael Jonas, MAI, AI-GRS, CCIM
State-certified general real estate appraiser RZ2623
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Certification of Brandon Jonas
I certify to the best of my knowledge and belief:
• The statements of fact contained in this report are true and correct.
• The reported analyses, opinions, and conclusions are limited only by the reported assumptions
and limiting conditions and is our personal, impartial and unbiased professional analyses,
opinions, and conclusions.
• I have no present or prospective interest in or bias with respect to the property that is the
subject of this report and have no personal interest in or bias with respect to the parties
involved with this assignment.
• My engagement in this assignment was not contingent upon developing or reporting
predetermined results.
• My compensation for completing this assignment is not contingent upon the development or
reporting of a predetermined value or direction in value that favors the cause of the client, the
amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
• This appraisal assignment was not based upon a requested minimum valuation, a specific
valuation, or the approval of a loan.
• My analyses, opinions, and conclusions were developed, and this report has been prepared, in
conformity with the Uniform Standards of Professional Appraisal Practice of The Appraisal
Foundation and the requirements of the Code of Professional Ethics and the Standards of
Professional Appraisal Practice of the Appraisal Institute, as well as the requirements of the
State of Florida relating to review by its duly authorized representatives. This report also
conforms to the requirements of the Financial Institutions Reform, Recovery, and Enforcement
Act of 1989 (FIRREA).
• The use of this report is subject to the requirements of the Appraisal Institute relating to review
by its duly authorized representatives.
• Brandon Jonas has completed the requirements of education for registration through the State
of Florida is current until November 30, 2022.
• Brandon Jonas has made a personal inspection of the property that is the subject of this
report.
• Although other appraisers may be contacted as a part of our routine market research
investigations, absolute client confidentiality and privacy are maintained at all times with regard
to this assignment without conflict of interest.
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• Brandon Jonas is in compliance with the Competency Provision in the USPAP as adopted in
FIRREA 1989 and has sufficient education and experience to perform the appraisal of the
subject property.
• Brandon Jonas has not appraised the subject in the last three years. He has not provided any
other services related to the property in the last three years.
Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the 40-acre parcel designated Rural Lands Mixed
Use District Neutral Lands, under the extraordinary assumptions as discussed in this report, warranted
a market value in its “as is” condition in fee simple ownership on January 17, 2024 of:
ONE MILLION TWO HUNDRED THOUSAND DOLLARS ..................................... ($1,200,000.00).
Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the ten parcels totaling 110-acres designated Rural
Lands Mixed Use District Sending Lands, under the extraordinary assumptions as discussed in this
report, warranted a market value in its “as is” condition in fee simple ownership on January 17, 2024
of:
THREE MILLION EIGHTY THOUSAND DOLLARS............................................... ($3,080,000.00).
Based on market conditions existing as of the effective date of appraisal, and in consideration of the
property as it existed on this date, it is our opinion the eleven parcels totaling 150-acres, under the
extraordinary assumptions as discussed in this report, warranted a market value in its “as is” condition
in fee simple ownership on January 17, 2024 of:
FOUR MILLION TWO HUNDRED EIGHTY THOUSAND DOLLARS ................... ($4,280,000.00).
Please refer to the attached appraisal report, plus exhibits, for documentation of the value estimates
contained herein. It has been a pleasure to assist you in this assignment. If you have any questions
concerning the analysis, or if Carlson, Norris and Associates can be of further service, please contact
us.
Respectfully submitted,
Brandon Jonas
State-registered trainee appraiser RI25835
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Section 6 –Limiting Conditions
General Assumptions & Limiting Conditions
Information Used: No responsibility is assumed for accuracy of information furnished by others or
from others, including the client, its officers and employees, or public records. We are not liable for
such information or for the work of contractors, subcontractors and engineers. The comparable data
relied upon in this appraisal has been confirmed with one or more parties familiar with the transaction
unless otherwise noted; all are considered appropriate for inclusion to the best of my factual judgment
and knowledge.
Certain information upon which the opinions and values are based may have been gathered by
research staff working with the appraiser. Names, professional qualifications and extent of their
participation can be furnished to the client upon request.
Legal, Engineering, Financial, Structural or Mechanical Nature, Hidden Components, Soil: No
responsibility is assumed for matters legal in character or nature nor matters of survey, nor of any
architectural, structural, mechanical or engineering nature. No opinion is rendered as to the legal
nature or condition of the title to the property, which is presumed to be good and marketable. The
property is appraised assuming it is free and clear of all mortgages, liens or encumbrances, unless
otherwise stated in particular parts of this report.
The legal description is presumed to be correct, but I have not confirmed it by survey or otherwise. I
assume no responsibility for the survey, any encroachments or overlapping or other discrepancies that
might be revealed thereby.
I have inspected, as far as possible by observation, the land thereon; however, it was not possible to
personally observe conditions beneath the soil or hidden; as a result, no representation is made herein
as to such matters unless otherwise specifically stated. The estimated market value assumes that no
such conditions exist that would cause a loss of value. I do not warrant against the occurrence of
problems arising from any of these conditions. It is assumed that there are no hidden or unapparent
conditions to the property, soil, subsoil or structures, which would render them more or less valuable.
No responsibility is assumed for any such conditions or for any expense or engineering to discover
them.
Information relating to the location or existence of public utilities has been obtained through inquiry to
the appropriate utility authority or has been ascertained from visual evidence. No warranty has been
made regarding the exact location or capacities of public utility systems. Subsurface oil, gas or
mineral rights were not considered in this report unless otherwise stated.
Legality of Use: The appraisal is based on the premise that there is or will be full compliance with all
applicable Federal, State and local environmental regulations and laws, unless otherwise stated in the
report; and that all appropriate zoning, building and use regulations and restrictions of all types have
been or will be complied with and required licenses, consent, permits or other authority, whether local,
State, Federal and/or private, have been or can be obtained or renewed for the use intended and
considered in the value estimate.
Component Values: The distribution of the total valuation of this report between land and
improvements applies only under the proposed program of utilization. The separate valuations of land
and buildings must not be used in conjunction with any other appraisal and are invalid if so used.
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A report related to an estate that is less than the whole fee simple estate applies only to the fractional
interest involved. The value of this fractional interest, plus the value of all other fractional interests,
may or may not equal the value of the entire fee simple estate considered as a whole.
A report relating to the geographic portion of a larger property applies only to such geographic portion
and should not be considered as applying with equal validity to other portions of the larger property or
tract. The value for such geographic portions, plus the value of all other geographic portions, may or
may not equal the value of the entire property or tract considered as a single entity.
All valuations in the report are applicable only under the estimated program of the highest and best
use and are not necessarily appropriate under other programs of use.
Auxiliary and Related Studies: No environmental or impact studies, special market study or
analysis, highest and best use analysis study or feasibility study has been requested or made by us
unless otherwise specified in this report or in my agreement for services. I reserve the unlimited right
to alter, amend, revise or rescind any of these statements, findings, opinions, values, estimates or
conclusions upon any subsequent study or analysis or previous study or analysis that subsequently
becomes available to us.
Dollar Values, Purchasing Power: The value estimates and the costs used herein are as of the date
of the estimate of value. All dollar amounts are based on the purchasing power and price of the
United States dollar as of the date of value estimate.
Inclusions: Furnishings and equipment or business operations, except as otherwise specifically
indicated, have been disregarded, with only the real estate being considered.
Proposed Improvements Conditioned Value: For the purpose of this appraisal, on- or off-site
improvements proposed, if any, as well as any repairs required, are considered to be completed in a
good and workmanlike manner according to information submitted and/or considered by us. In cases
of proposed construction, the report is subject to change upon inspection of the property after
construction is complete. The estimate of value, as proposed, is as of the date shown, as if completed
and operating at levels shown and projected.
Value Change, Dynamic Market Influences: The estimated value is subject to change with market
changes over time. Value is highly related to interest rates, exposure, time, promotional effort, supply
and demand, terms of sale, motivation and conditions surrounding the offering. The value estimate
considers the productivity and relative attractiveness of the property both physically and economically
in the marketplace. The estimate of value in this report is not based in whole or in part upon race, color
or national origin of the present owners or occupants of the properties in the vicinity of the property
appraised.
In the event this appraisal includes the capitalization of income, the estimate of value is a reflection of
such benefits and my interpretation of income and yields and other factors which were derived from
general and specific market information. Such estimates are made as of the date of the estimate of
value. As a result, they are subject to change, as the market is dynamic and may naturally change
over time. The date upon which the value estimate applies is only as of the date of valuation, as
stated in the letter of transmittal. The appraisal assumes no responsibility for economic or physical
factors occurring at some later date which may affect the opinion stated herein.
An appraisal is the product of a professionally trained person, but nevertheless is an opinion only, and
not a provable fact. As a personal opinion, a valuation may vary between appraisers based upon the
same facts. Thus, the appraiser warrants only that the value conclusions are his best estimate as of
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the date of valuation. There are no guaranties, either written or implied, that the property would sell for
the expressed estimate of value.
Title Review: Unless otherwise stated, the appraiser has not reviewed an abstract of title relating to
the subject property. No title search has been made, and the reader should consult an attorney or title
company for information and data relative to the property ownership and legal description. It is
assumed that the subject title is marketable, but the title should be reviewed by legal counsel. Any
information given by the appraiser as to a sales history is information that the appraiser has
researched; to the best of my knowledge, this information is accurate, but not warranted.
Management of the Property: It is assumed that the property which is the subject of this report will
be under prudent and competent ownership and management over the entire life of the property. If
prudent and competent management and ownership are not provided, this would have an adverse
effect upon the value of the property appraised.
Confidentiality: We are not entitled to divulge the material (evaluation or valuation) content of this
report and analytical findings or conclusions or give a copy of this report to anyone other than the client
or his designee, as specified in writing, except as may be required by the Appraisal Institute, as they
may request in confidence for ethic enforcement, or by a court of law with the power of subpoena.
All conclusions and opinions concerning the analyses as set forth herein are prepared by the
appraisers whose signatures appear. No change of any item in the report shall be made by anyone
other than the appraiser, and the firm shall have no responsibility if any such unauthorized change is
made.
Whenever our opinion herein with respect to the existence or absence of fact is qualified by the phrase
or phrases "to the best of our knowledge", "it appears" or "indicated", it is intended to indicate that,
during the course of our review and investigation of the property, no information has come to our
attention which would give us actual knowledge of the existence or absence of such facts.
The client shall notify the appraiser of any error, omission or invalid data herein within 10 days of
receipt and return of the report, along with all copies, to the appraiser for corrections prior to any use
whatsoever. Neither our name nor this report may be used in connection with any financing plans
which would be classified as a public offering under State or Federal Security Laws.
Copies, Publication, Distribution, Use of Report: Possession of this report, or any copy thereof,
does not carry with it the right of publication, nor may it be used for other than its intended use. The
physical report remains the property of the firm for the use of the client, with the fee being for the
analytical services only. This report may not be used for any purpose by any person or corporation
other than the client or the party to whom the report is addressed. Additional copies may not be made
without the written consent of an officer of the firm, and then only in its entirety.
Neither all nor any part of the contents of this report shall be conveyed to the public through
advertising, public relations effort, news, sales or other media without my prior written consent and
approval of the client.
It has been assumed that the client or representative thereof, if soliciting funds for his project, has
furnished to the user of this report complete plans, specifications, surveys and photographs of land
and improvements, along with all other information which might be deemed necessary to correctly
analyze and appraise the subject property.
Authentic Copies: Any copy that does not have original signatures of the appraiser is unauthorized
and may have been altered and, therefore, is considered invalid.
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Testimony, Consultation, Completion of Contract for Appraisal Services: A contract for
appraisal, consultation or analytical services is fulfilled and the total fee payable upon completion of
the report. The appraisers or those assisting in the preparation of the report will not be asked or
required to give testimony in court or hearing because of having made the appraisal in full or in part,
nor will they be asked or required to engage in post appraisal consultation with client or third parties
except under separate and special arrangement and at an additional fee. Any subsequent copies of
this appraisal report will be furnished on a cost-plus expenses basis, to be negotiated at the time of
request.
Limit of Liability: Liability of the firm and the associates is limited to the fee collected for preparation
of the appraisal. There is no accountability or liability to any third party.
Fee: The fee for this appraisal or study is for the service rendered, and not for time spent on the
physical report. The acceptance of the report by the client takes with it the agreement and
acknowledgement that the client will pay the negotiated fee, whether said agreement was verbal or
written. The fee is in no way contingent on the value estimated.
Special Limiting Conditions: The Americans with Disabilities Act became effective January 26,
1992. Notwithstanding any discussion of possible readily achievable barrier removable construction
items in this report, Carlson, Norris and Associates, has not made a specific compliance survey and
analysis of this property to determine whether it is in conformance with the various detailed
requirements of the A.D.A. It is possible that a compliance survey of the property together with a
detailed analysis of the requirements of the A.D.A. could reveal that the property is not in compliance
with one or more of the requirements of the A.D.A. If so, this fact could have a negative effect on the
value estimated herein. Since Carlson, Norris and Associates has no specific information relating to
this issue, nor is Carlson, Norris and Associates qualified to make such an assessment, the effect of
any possible noncompliance with the requirements of the A.D.A. was not considered in estimating the
value of the subject property.
This analysis is made in conformity with the requirements with the Uniform Standards of Professional
Appraisal Practice and the Standards of Professional Conduct of the Appraisal Institute.
Please note the following extraordinary assumptions:
• A soil analysis for the site has not been provided for the preparation of this appraisal. In the
absence of a soil report, it is a specific assumption that the site has adequate soils to support
the highest and best use. The analyst is not an expert in area of soils and would recommend
that an expert be consulted.
• It is assumed that there are no hidden or unapparent conditions to the property, soil, or subsoil,
which would render them more or less valuable. Subsurface oil, gas or mineral rights were not
considered in this report unless otherwise stated. The analyst is not an expert with respect to
subsurface conditions and would recommend that an expert be consulted.
• It is assumed that there are no hazardous materials either at ground level or subsurface.
We assume the legal description and size provided are correct.
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Section 8 – Addenda
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Flood Map
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APPRAISERS' LICENSES
License of Michael P. Jonas, MAI, AI-GRS, CCIM
License of Brandon Jonas
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QUALIFICATIONS OF MICHAEL P. JONAS, MAI, AI-GRS, CCIM
STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER RZ2623
EDUCATION:
University of Central Florida - 1999 BSBA – Finance
PROFESSIONAL EDUCATION:
Appraisal Institute: National USPAP Update Course, 2012, 2014, 2016, 2020, 2022
Appraisal Institute: 2018 Legislative VALUEvent , 2018
Appraisal Institute: Advanced Income Capitalization, 2003
Appraisal Institute: Advancing the Appraisal Profession, 2019
Appraisal Institute: Analyzing Distressed Real Estate, 2007
Appraisal Institute: Appraisal Laws and Rules, 2000, 2002, 2004, 2020, 2022
Appraisal Institute: Appraisal Report Writing, 2005
Appraisal Institute: Artificial Intelligence, AVMS, 2019
Appraisal Institute: Business Practice and Ethics, 2012, 2016, 2019, 2020
Appraisal Institute: Capital Reserve Studies 2022
Appraisal Institute: Central Florida Real Estate Forum, 2022
Appraisal Institute: Desktop Appraisals 2020
Appraisal Institute: Evaluations for Commercial and Residential Appraisers, 2022
Appraisal Institute: FL State Law for Real Estate Appraisers, 2004
Appraisal Institute: Florida Appraisal Laws and Rules, 2012, 2014, 2016
Appraisal Institute: Florida Real Estate Valuation, 2011
Appraisal Institute: Florida State Law for Real Estate Appraisers, 2006
Appraisal Institute: Fundamentals of Separating Real Estate, 2012
Appraisal Institute: Insurance Appraisal, 2011
Appraisal Institute: National USPAP Update Course, 2000, 2002, 2004, 2006, 2008, 2010, 2012
Appraisal Institute: Real Estate Damages, 2011
Appraisal Institute: Reappraising, Readdressing, Reassigning, 2007
Appraisal Institute: Review Involving Appraisals by Multiple Appraisers, 2022
Appraisal Institute: Review Theory – General, 2014
Appraisal Institute: Roles/Responsibilities Supervisor/Trainee, 2006, 2008
Appraisal Institute: Specialty Appraisal Continued Education, 2000, 2002, 2004, 2006, 2008,
2012, 2014, 2016 2020, 2022
Appraisal Institute: State Law for Real Estate Appraisers, 2008, 2010, 2012
Appraisal Institute: The Appraiser as an Expert Witness, 2016
Appraisal Institute: The Paperless Real Estate Appraisal Office, 2022
Appraisal Institute: Trial Components, 2016
Appraisal Institute: Uniform Appraisal Standards for Federal Land Acquisitions, 2007
Bert Rodgers: Continuing Real Estate Education, 2004, 2006, 2021
Bob Hogue: CE for Florida Real Estate Professionals, 2016
CCIM Institute: Financial Analysis Commercial Investment, 2008
CCIM Institute: Financial Analysis for Commercial, 2008
CCIM Institute: Investment Analysis Commercial Investment, 2009
CCIM Institute: Investment Analysis Commercial, 2009
CCIM Institute: Market Analysis Commercial Investment, 2008
CCIM Institute: User Decision Analysis Commercial Industrial, 2009
CLE International: Eminent Domain, 2006
Cooke: CE for Real Estate Professionals, 2015
DPBR: FREAB Board Meeting, 2007
Florida Dept. Revenue: Real Property Appraiser Special Magistrates VAB Training, 2022
Larson Educational Services: Core Law, 2010
McKissock: Supervisor – Trainee Course for Florida, 2019
Page 1045 of 7162
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C ARLSON, NORRIS & A S SOCIATES
135
NABOR Ethics Training: 2004, 2008, 2012, 2016
EXPERIENCE:
1999 – 2000 Clayton, Roper & Marshall Orlando, FL
2000 – 2001 Chapman & Associates Sarasota, FL
2001 – 2008 Coast Engineering Consultants, Inc Naples, FL
2008 – 2009 Orion Bank. Naples, FL
2009 – 2011 Iberia Bank Naples, FL
2011 – 2014 Integra Realty Resources Naples, FL
2014 – 2016 Capstone Valuation Advisors, LLC Naples, FL
2016 – 2019 MPJ Real Estate Services, Inc. Naples, FL
2019 – Present Carlson, Norris & Associates Fort Myers & Naples, FL
2022 – Special Magistrate, Collier County Value Adjustment Board
PROFESSIONAL MEMBERSHIP:
Appraisal Institute, Member (MAI / AI-GRS) No. 12480
Certified Commercial Investment Member, CCIM No. 18275 Certification,
State Certified General Appraiser RZ2623 Member, Naples Area Board of Realtors
State of Florida, Registered Real Estate Broker BK700992
Properties appraised include: subdivisions, retail centers, motels, commercial buildings, industrial
buildings, warehouses, mobile home parks, professional offices, medical offices,
office/warehouse condominiums, single family homes, duplexes, apartment projects, individual
condominium projects, residential lots, acreage, wetlands, special use properties, ranches,
conservation easements hotels, marinas, mixed-use subdivisions, regional malls, gas stations,
self-storage facilities and eminent domain cases.
Appraisal clients include: banks, savings and loan associations, attorneys, corporations, builders,
developers, mortgage companies, insurance companies, home transfer companies, private
individuals, and local, state and federal government agencies.
Qualified as an expert witness in Monroe and Collier County Circuit Court
Page 1046 of 7162
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
C ARLSON, NORRIS & A S SOCIATES
136
QUALIFICATIONS OF BRANDON M. JONAS
REGISTERED TRAINEE APPRAISER RI25835
EDUCATION: University South Florida – Bachelor of Science – Biology
PROFFESIONAL EDUCATION: Basic Appraisal Principles – April 2023 Basic Appraisal Procedures
– April 2023 National 15-Hour USPAP Course – May 2023 Commercial Cost Approach Certification –
February 2023 Florida Trainee Appraiser Subject Matter Electives – May 2023 Supervisor-Trainee
Course for Florida – May 2023
EXPERIENCE: 2023-Present: Carlson, Norris and Associates, Inc. Fort Myers, Florida
PROFESSIONAL MEMBERSHIP:
Certification State-Registered Trainee Appraiser RI25835
Properties appraised/assisted include: commercial buildings, industrial buildings, warehouses, retail
centers, vacant land, multi-family, single-family homes, and other miscellaneous properties.
Page 1047 of 7162
APPRAISAL REPORT
FOR
THE CONSERVATION COLLIER
PROGRAM AND THE COLLIER
COUNTY BOARD OF COUNTY
COMMISSIONERS
SUBJECT PROPERTY:
SYMPHONY PROPERTIES, LLC
150.00 ACRES IN NORTH BELLE MEADE
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.:
6600-TS
APPRAISAL EFFECTIVE DATE:
JANUARY 17, 2024
DATE OF REPORT:
FEBRUARY 5, 2024
Page 1048 of 7162
6600 Report Table of Contents
Carroll & Carroll
Table of Contents
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS ......................................................... 1
CONSERVATION FEATURES SUMMARY OVERVIEW ................................................................. 3
CERTIFICATION ..................................................................................................................................... 5
SCOPE OF WORK ................................................................................................................................... 7
ESTATE APPRAISED .............................................................................................................................. 8
DEFINITION OF MARKET VALUE ..................................................................................................... 9
ASSUMED EXPOSURE TIME ................................................................................................................ 9
AREA INFORMATION ........................................................................................................................ 10
MARKET AREA ..................................................................................................................................... 19
PROPERTY INFORMATION ............................................................................................................... 31
SITE DESCRIPTION – 40.00 ACRES ............................................................................................... 33
SITE DESCRIPTION – 110.00 ACRES ............................................................................................. 35
SUBJECT PHOTOGRAPHS .............................................................................................................. 37
ENVIRONMENTAL CONTAMINATION .................................................................................... 47
NATURAL RESOURCE CONCERNS ............................................................................................ 48
ZONING .............................................................................................................................................. 56
40.00 ACRES ....................................................................................................................................... 56
110.00 ACRES ..................................................................................................................................... 57
ASSESSMENT AND TAXES ............................................................................................................ 62
FLOOD ZONE DATA ....................................................................................................................... 64
TRANSACTIONAL HISTORY ........................................................................................................ 65
CURRENT STATUS ........................................................................................................................... 65
HIGHEST AND BEST USE ................................................................................................................... 66
CONSIDERATION OF APPROACHES ............................................................................................. 70
SALES COMPARISON APPROACH ................................................................................................. 71
LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES ............................. 73
VACANT LAND COMPARABLES ................................................................................................ 75
LAND SALES ADJUSTMENT GRID – 40.00 ACRES ................................................................... 88
LAND SALES ADJUSTMENT GRID – 110.00 ACRES ................................................................. 89
ESTIMATE OF VALUE – 40.00 ACRES .............................................................................................. 95
ESTIMATE OF VALUE – 110.00 ACRES ............................................................................................ 96
ESTIMATE OF VALUE – 150.00 ACRES ............................................................................................ 97
ADDENDA ............................................................................................................................................. 98
Page 1049 of 7162
6600 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
Symphony Properties, LLC
150.00 Acres in North Belle Meade, Naples, FL 34117
Property Description
A total of 150.00-acres consisting of 11 parcels located off
20th Street SE in the North Belle Meade area in Naples,
Florida. The northern most parcel contains 40.00 acres and
is designated Neutral and the remining 110.00 acres are
designated Sending as part of the Rural Fringe Mixed Use
District.
Property Type Vacant Land
Owner of Recor Symphony Properties, LLC
Property ID #
00301320007, 00300880001, 00299120005, 00300800007,
00299800008, 00299440002, 00301800006, 00299480004,
00299680008, 00299560005, 00299920001
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 January 17, 2024
Date of Report February 5, 2024
Date of Inspection January 17, 2024
Purpose of Appraisal Estimate market value “As Is”
Estate Appraised Fee Simple
Interest Appraised 100%
Estimated Market Values
40.00 Acres $1,440,000
110.00 Acres $2,310,000
Combined 150.00 Acres $3,750,000
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
The northern 40.00 acres are improved with a private shooting range. I was not provided
Page 1050 of 7162
6600 Report Summary of Important Data & Conclusions
Carroll & Carroll 2
with any environmental reports and therefore I have assumed the property is not
contaminated.
HYPOTHETICAL CONDITIONS
None
Page 1051 of 7162
6600 Report Conservation Summary Overview
Carroll & Carroll 3
CONSERVATION FEATURES SUMMARY OVERVIEW
Project Name:
Symphony Properties Appraisal Project
150.00 Acres in North Belle Meade, Naples, FL 34117
Folio Number & Owner(s) of Record:
00301320007, 00300880001, 00299120005, 00300800007, 00299800008, 00299440002, 00301800006,
00299480004, 00299680008, 00299560005, 00299920001
Symphony Properties, LLC
Zoning/Overlays:
40.00 Acres
“A” – Rural Agricultural District
RFMUO - NBMO – Neutral
Rural Fringe Mixed Use District (RFMUO) - Neutral Lands and the North Belle Meade Overlay
110.00 Acres
“A” – Rural Agricultural District
RFMUO - NBMO – Sending
Rural Fringe Mixed Use District (RFMUO) - Sending Lands and the North Belle Meade
Overlay
Zoning Considerations for TDR’s, PHU, other endangered species:
N/A
Was the cost to mitigate wetlands or endangered species taken into consideration?
Yes, the plant communities present on the property include hydric pine flatwoods. A portion
of the property could be mitigated in order to construct single-family residences if wetlands
are present on the property.
Scope of Proposed Mitigation:
N/A
Land Area:
150.00 gross acres
Access for the Parcel Taken Into Consideration:
The subject parcel has legal and physical access.
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6600 Report Conservation Summary Overview
Carroll & Carroll 4
Highest and Best Use:
40.00 Acres- The highest and best use is to develop with a maximum of 8 single-family homes.
110.00 Acres - The highest and best use is to sever and sell the TDR credits to potential
developers and sell the undevelopable land to an owner-user for agricultural or recreational
uses.
Date of Estimated Value:
January 17, 2024
Estimated Values:
40.00 Acres $1,440,000
110.00 Acres $2,310,000
Combined 150.00 Acres $3,750,000
Page 1053 of 7162
6600 Report Certification
Carroll & Carroll 5
CERTIFICATION
I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF:
I personally inspected the subject property. I personally inspected Comparables 7, 8,
and 12 and relied on aerial photography for Comparables 1, 2, 3, 4, 5, 6, 9, 10, and 11.
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.
Page 1054 of 7162
6600 Report Certification
Carroll & Carroll 6
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
Page 1055 of 7162
6600 Report Scope of Work
Carroll & Carroll 7
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,
marketing materials, 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 for the northern 40.00-acre parcel
designated Neutral, the 110.00 acres designated Sending, and the combined 150.00
acres.
• 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.
Page 1056 of 7162
6600 Report Estate Appraised
Carroll & Carroll 8
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.
Page 1057 of 7162
6600 Report Definition of Market Value
Carroll & Carroll 9
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 9 and 12 months.
Page 1058 of 7162
6600 Report Area Analysis
Carroll & Carroll 10
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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Carroll & Carroll 11
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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Carroll & Carroll 12
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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Carroll & Carroll 13
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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Carroll & Carroll 14
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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Carroll & Carroll 15
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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Carroll & Carroll 16
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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Carroll & Carroll 17
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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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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40.00 ACRES
SITE DESCRIPTION – 40.00 ACRES
Address 1320 20th Street SE, Naples, FL 34117
Legal Description The Southeast ¼ of the Northwest ¼ of Section 13,
Township 49 South, Range 27 East, Collier County, Florida.
Property ID# 00301320007
Owner of Record Symphony Properties, LLC
Size I was not provided with a boundary survey.
The Collier County Property Appraiser reports the subject
property to be 1,742,400 gross square feet or 40.00 gross
acres.
Easements None
Shape Square
Dimensions Approximately 1,320’x1,320’
Access The subject has both legal and physical access. The
property is accessible from 20th Street SE. 20th Street SE is a
privately maintained gravel road extending south of
Frangipani Avenue. North of Frangipani Avenue 20th Street
SE is a 2-lane, asphalt paved publicly maintained road
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extending south from Golden Gate Boulevard.
Topography The topography is generally level.
Ground Cover The majority of the property is cleared. The southwest
corner is covered in native vegetation. I was provided with
a Conservation Collier Initial Criteria Screening Report
Symphony Properties dated July 14, 2023.
The subject property contains a variety of vegetative
communities including pine flatwoods, mesic pine
flatwoods, hydric pine flatwoods, palmetto prairie, and
shrub/brushland. The majority of the property is hydric
flatwoods, mesic flatwoods, and pine flatwoods with the
property being identified as rural open. Very few invasive
plants are located on the property. The invasives include a
patch of cogon grass, occasional Caesar weed, Brazilian
pepper, lantana, and shrubby false buttonwood.
Utilities Electricity, telephone, and TV cable are available. The
property is currently serviced by well and septic.
Surrounding Land Uses The subject is surrounded to the south and east by privately
owned vacant and improved Agricultural zoned parcels to
the north and west by 115 acres owned by the School
District of Collier County.
Demographics (2023) 2 mile 5 10
Population 3,260 17,457 108,854
Households 1,004 5,446 38,151
Median HH Income $88,586 $77,191 $74,769
Median Home Value $328,979 $331,681 $358,841
Site Improvements The property is improved with an 1,125 square foot metal
building constructed in 2018, an 870 square foot metal
building built in 2018, three small cabins, three shooting
shelters, two chickee huts, brick paver deck, well, septic
system, perimeter fencing, and multiple gates. The
improvements are in average condition.
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110.00 ACRES
SITE DESCRIPTION – 110.00 ACRES
Address No site Address, Naples, FL 34117
Legal Description Lengthy legal description copied into the addendum of the
report.
Property ID# 00300880001, 00299120005, 00300800007, 00299800008,
00299440002, 00301800006, 00299480004, 00299680008,
00299560005, 00299920001
Owner of Record Symphony Properties, LLC
Size I was not provided with a boundary survey.
The Collier County Property Appraiser reports the subject
property to be 4,791,600 gross square feet or 110.00 gross
acres.
Easements None
Shape Irregular
Dimensions Varies
Access The property is accessible from 20th Street SE through the
adjacent property to the north. It is assumed the subject has
both legal and physical access.
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Topography The topography is generally level.
Ground Cover A significant portion of the property is in its native state
with a few of the parcels being selectively cleared. I was
provided with a Conservation Collier Initial Criteria
Screening Report Symphony Properties dated July 14, 2023.
The subject property contains a variety of vegetative
communities including pine flatwoods, mesic pine
flatwoods, hydric pine flatwoods, palmetto prairie, and
shrub/brushland. The majority of the property is hydric
flatwoods, mesic flatwoods, and pine flatwoods with the
property being identified as rural open. Very few invasive
plants are located on the property. The invasives include a
patch of cogon grass, occasional Caesar weed, Brazilian
pepper, lantana, and shrubby false buttonwood.
Utilities Electricity, telephone, and TV cable are available. The
property is currently serviced by well and septic.
Surrounding Land Uses The subject is surrounded to the north, south, east and by
privately owned vacant and improved Agricultural zoned
parcels. Located to the northeast is 115 acres and to the
northwest are 35 acres owned by the School District of
Collier County.
Demographics (2023) 2 mile 5 10
Population 3,260 17,457 108,854
Households 1,004 5,446 38,151
Median HH Income $88,586 $77,191 $74,769
Median Home Value $328,979 $331,681 $358,841
Site Improvements The property is improved with a 2,643 square foot barn that
was built in 2005. The structure suffered damage from prior
hurricanes and is in poor condition. There is also a well,
perimeter fencing, and multiple gates. The site
improvements are in average condition.
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SUBJECT PHOTOGRAPHS
View to the south along 20th Street SE.
(Photo Taken January 17, 2024)
View to the north along 20th Street SE.
(Photo Taken January 17, 2024)
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View into the subject property from 20th Street SE.
(Photo Taken January 17, 2024)
View to the east along the northern boundary.
(Photo Taken January 17, 2024)
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View to west across the northern 40.00 acres.
(Photo Taken January 17, 2024)
View of the cabins on the north 40.00 acres.
(Photo Taken January 17, 2024)
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View of the cabins on the north 40.00 acres.
(Photo Taken January 17, 2024)
View of the cabins on the north 40.00 acres.
(Photo Taken January 17, 2024)
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View of one the metal buildings on the north 40.00 acres.
(Photo Taken January 17, 2024)
View of the second metal building on the north 40.00 acres.
(Photo Taken January 17, 2024)
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View to the east across the north 40.00 acres.
(Photo Taken January 17, 2024)
View to the east along a boundary in the central portion of the property.
(Photo Taken January 17, 2024)
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View to the south along a western boundary.
(Photo Taken January 17, 2024)
View to the south along a western boundary.
(Photo Taken January 17, 2024)
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View to the east from the southwest corner of the property.
(Photo Taken January 17, 2024)
View to the north along the eastern boundary.
(Photo Taken January 17, 2024)
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View to the north along the far eastern boundary.
(Photo Taken January 17, 2024)
View to the west across the property (barn ahead).
(Photo Taken January 17, 2024)
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View of the old barn.
(Photo Taken January 17, 2024)
View to the north along an eastern boundary to the north of the property.
(Photo Taken January 17, 2024)
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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 property has been cleared. I
was provided with a Conservation Collier Initial
Criteria Screening Report Symphony Properties
dated July 14, 2023.
The subject property contains a variety of
vegetative communities including pine flatwoods,
mesic pine flatwoods, hydric pine flatwoods,
palmetto prairie, and shrub/brushland. The
majority of the property is hydric flatwoods, mesic
flatwoods, and pine flatwoods with the property
being identified as rural open. Very few invasive
plants are located on the property. The invasives
include a patch of cogon grass, occasional Caesar
weed, Brazilian pepper, lantana, and shrubby false
buttonwood.
The hydric pine flatwoods hold shallow surface
water during the wet season. I interviewed
Howard, the property manager who said that there
is only one spot on the southeast corner of the
property that holds water during the wet season.
He has never seen water across the property in all
the years he has managed the property.
The property/habitat would support the presence of
many species including the federally endangered
Florida panther, red-cockaded woodpecker, Florida
bonneted bat, and state-threatened Florida gopher
tortoise and Big Cypress fox squirrel.
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
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appraiser’s required scope of work, the appraiser is
not qualified to conduct such audits and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any extraordinary natural resource
concerns, or for the knowledge and expertise
required to discover them.
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FUTURE LAND USE
40.00 ACRES
Ordinance or Plan Collier County Growth Management Plan
Future Land Use Designation Rural Fringe Mixed Use District (RFMUD) – Neutral
Lands and the North Belle Meade Overlay
Purpose of Designation The Rural Fringe Mixed Use District provides a
transition between the Urban and Estates
Designated lands and between the Urban and
Agricultural/Rural and Conservation designated
lands farther to the east. The Rural Fringe Mixed Use
District employs a balanced approach, including
both regulations and incentives, to protect natural
resources and private property rights, providing for
large areas of open space, and allowing, in
designated areas, appropriate types, density and
intensity of development. The Rural Fringe Mixed
Use District allows for a mixture of urban and rural
levels of service, including limited extension of
central water and sewer, schools, recreational
facilities, commercial uses and essential services
deemed necessary to serve the residents of the
District.
Neutral Lands are those lands within the Rural
Fringe Mixed Use District that have been identified
for limited semi-rural residential development.
Available data indicates that Neutral Lands have a
higher ratio of native vegetation, and thus higher
habitat values, than lands designated as Receiving
Lands, but these values do not approach those of
Sending Lands. Therefore, these lands are
appropriate for limited development, if such
development is directed away from existing native
vegetation and habitat.
Permitted uses include agricultural uses, single
family uses at a maximum density of one dwelling
unit per 5 acres (0.2 units per acre), multi-family
residential structures shall be permitted under the
Residential Clustering provision, group housing,
farm labor housing, sporting and recreational
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camps, essential services, golf courses, community
facilities, and private schools.
Development rights may also be severed from
Neutral Lands at a maximum rate of 0.2 TDR
(Transfer of Development Rights) credits per acre (1
TDR Credit per five acres). Utilization of TDR
Credits and TDR Bonus Credits in Receiving Lands
may only occur in whole number increments
(fractions are prohibited). In the case of legal
nonconforming lots or parcels in existence as of June
22, 1999, where such lot or parcel is less than 5 acres
in size, one TDR Credit may be severed from said lot
or parcel.
North Belle Meade area is surrounded by Golden
Gate Estates to the north, east, and west and I-75 to
the south and is unique to the Rural Fringe area
because it is surrounded by areas that are vested for
development on three sides. Because this area is
largely undeveloped and includes substantial
vegetated areas, the Sending Lands can and do
provide valuable habitat for wildlife, including
endangered species. The challenge for the NBM
Overlay area is to achieve a balance of both
preservation and opportunities for future
development that takes into account resource
protection and the relationship between this area
and the Estates developing around the NBM
Overlay area.
110.00 ACRES
Ordinance or Plan Collier County Growth Management Plan
Future Land Use Designation Rural Fringe Mixed Use District (RFMUD) – Sending
Lands and the North Belle Meade Overlay
Purpose of Designation The Rural Fringe Mixed Use District provides a
transition between the Urban and Estates
Designated lands and between the Urban and
Agricultural/Rural and Conservation designated
lands farther to the east. The Rural Fringe Mixed Use
District employs a balanced approach, including
both regulations and incentives, to protect natural
resources and private property rights, providing for
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large areas of open space, and allowing, in
designated areas, appropriate types, density and
intensity of development. The Rural Fringe Mixed
Use District allows for a mixture of urban and rural
levels of service, including limited extension of
central water and sewer, schools, recreational
facilities, commercial uses and essential services
deemed necessary to serve the residents of the
District.
Sending Lands are those lands within the Rural
Fringe Mixed Use District that have the highest
degree of environmental value and sensitivity and
generally include significant wetlands, uplands, and
habitat for listed species.
Permitted uses include agricultural uses, detached
single family uses at a maximum density of one
dwelling unit per 40 acres or one dwelling unit per
lot or parcel of less than 40 acres, which existed on
or before June 22, 1999, habitat preservation and
conservation use, passive parks, sporting and
recreational camps, essential services, and oil and
gas exploration.
Development rights may also be severed from
Sending Lands at a maximum rate of 0.2 TDR
(Transfer of Development Rights) credits per acre (1
TDR Credit per five acres). Utilization of TDR
Credits and TDR Bonus Credits in Receiving Lands
may only occur in whole number increments
(fractions are prohibited). In the case of legal
nonconforming lots or parcels in existence as of June
22, 1999, where such lot or parcel is less than 5 acres
in size, one TDR Credit may be severed from said lot
or parcel.
North Belle Meade area is surrounded by Golden
Gate Estates to the north, east, and west and I-75 to
the south and is unique to the Rural Fringe area
because it is surrounded by areas that are vested for
development on three sides. Because this area is
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largely undeveloped and includes substantial
vegetated areas, the Sending Lands can and do
provide valuable habitat for wildlife, including
endangered species. The challenge for the NBM
Overlay area is to achieve a balance of both
preservation and opportunities for future
development that takes into account resource
protection and the relationship between this area
and the Estates developing around the NBM
Overlay area.
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ZONING
40.00 ACRES
Ordinance or Land Development
Code
Collier County
Zoning “A” – Rural Agricultural District
RFMUO – NBMO – Neutral
Rural Fringe Mixed Use District (RFMUO) – Neutral
Lands and the North Belle Meade Overlay
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
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Minimum Front Yard Setback: 50 feet minimum
Minimum Side Yard Setback: 30 feet
Minimum Rear Yard Setback: 50 feet
Maximum Building Height: 35 feet
The purpose and intent of the RFMU District is to
provide a transition between the Urban and Estates
Designated lands and between the Urban and
Agricultural/Rural and Conservation designated lands
farther to the east. The RFMU District employs a
balanced approach, including both regulations and
incentives, to protect natural resources and private
property rights, providing for large areas of open
space, and allowing, in designated areas, appropriate
types, density and intensity of development. The
RFMU District allows for a mixture of urban and rural
levels of service, including limited extension of central
water and sewer, schools, recreational facilities,
commercial uses, and essential services deemed
necessary to serve the residents of the RFMU District.
The innovative planning and development techniques
which are required and/or encouraged within the
RFMU District were developed to preserve existing
natural resources, including habitat for listed species,
to retain a rural, pastoral, or park-like appearance
from the major public rights-of-way, and to protect
private property rights.
Neutral Lands have been identified for limited semi-
rural residential development. Available data indicates
that neutral lands have a higher ratio of native
vegetation, and thus higher habitat values, than lands
designated as RFMU receiving lands, but these values
do not approach those of RFMU sending lands.
Therefore, these lands are appropriate for limited
development, if such development is directed away
from existing native vegetation and habitat.
110.00 ACRES
Ordinance or Land Development
Code
Collier County
Zoning “A” – Rural Agricultural District
RFMUO - NBMO – Sending
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Rural Fringe Mixed Use District (RFMUO) – Sending
Lands and the North Belle Meade Overlay
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
The purpose and intent of the RFMU District is to
provide a transition between the Urban and Estates
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Designated lands and between the Urban and
Agricultural/Rural and Conservation designated lands
farther to the east. The RFMU District employs a
balanced approach, including both regulations and
incentives, to protect natural resources and private
property rights, providing for large areas of open
space, and allowing, in designated areas, appropriate
types, density and intensity of development. The
RFMU District allows for a mixture of urban and rural
levels of service, including limited extension of central
water and sewer, schools, recreational facilities,
commercial uses, and essential services deemed
necessary to serve the residents of the RFMU District.
The innovative planning and development techniques
which are required and/or encouraged within the
RFMU District were developed to preserve existing
natural resources, including habitat for listed species,
to retain a rural, pastoral, or park-like appearance
from the major public rights-of-way, and to protect
private property rights.
Sending Lands are those lands that have the highest
degree of environmental value and sensitivity and
generally include significant wetlands, uplands, and
habitat for listed species. RFMU sending lands are the
principal target for preservation and conservation.
Density may be transferred from RFMU sending lands
as provided in LDC section 2.03.07 D.4.c. All NRPAs
within the RFMU district are also RFMU sending
lands..
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 On the following page is a complete list of all 11
Parcels.
Assessment and Tax Year 2023
Combined Land Assessment $4,326,500
Improvement Assessment $277,900
Combined Total Assessment $4,604,400
10% CAP ($19,434)
AG Exemption ($4,272,870)
Taxable Value $312,096
Total Taxes $3,550.98
Taxing Authority/Jurisdiction Collier County
The total assessment is $4,604,400 or $30,696 per gross acre of land area (based on 150.00
acres). The land assessment is within the range of other similar parcels. The assessment is
higher than my estimate of market value.
As of the appraisal effective date the 2023 taxes have been paid.
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PARCEL PARCEL ID OWNERSHIP ACREAGE 2023 LAND 2023 IMPROVED 2023 MARKET 10% CAP AG EXEMPTION 2023 TAXABLE 2023 TOTAL
VALUE VALUE VALUE VALUE TAXES
1 0030132007 Symphony Properties, LLC 40.00 $1,200,000 $192,190 $1,392,190 ($19,434)($1,163,970)$208,786 $2,485.64
2 00300880001 Symphony Properties, LLC 15.00 $450,000 $0 $450,000 $0 ($447,900)$2,100 $21.66
3 00299120005 Symphony Properties, LLC 10.00 $300,000 $0 $300,000 $0 ($298,600)$1,400 $14.44
4 00300800007 Symphony Properties, LLC 10.00 $300,000 $0 $300,000 $0 ($298,600)$1,400 $14.44
5 00299800008 Symphony Properties, LLC 5.00 $150,000 $0 $150,000 $0 ($149,300)$700 $7.22
6 00299440002 Symphony Properties, LLC 10.00 $300,000 $85,710 $385,710 $0 ($294,600)$91,110 $939.52
7 00301800006 Symphony Properties, LLC 20.00 $600,000 $0 $600,000 $0 ($597,800)$2,200 $22.70
8 00299480004 Symphony Properties, LLC 15.00 $450,000 $0 $450,000 $0 ($448,350)$1,650 $17.02
9 00299680008 Symphony Properties, LLC 15.00 $450,000 $0 $450,000 $0 ($448,350)$1,650 $17.02
10 00299560005 Symphony Properties, LLC 5.00 $63,250 $0 $63,250 $0 ($62,700)$550 $5.66
11 00299920001 Symphony Properties, LLC 5.00 $63,250 $0 $63,250 $0 ($62,700)$550 $5.66
TOTAL 150.00 $4,326,500 $277,900 $4,604,400 ($19,434)($4,272,870)$312,096 $3,550.98
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FLOOD ZONE DATA
Flood Zone AH
Flood Zone Comments Zone AH – Areas of 1% annual-chance
shallow flooding with a constant water-
surface elevation (usually areas of ponding)
where average depths are between 1 and 3
feet. Base flood elevations determined.
Community Panel Number 12021C0430H & 12021C0435H
Revised May 16, 2012
Source National Flood Insurance Program
Flood Insurance Rate Maps
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TRANSACTIONAL HISTORY
Sales History There have been no transactions or transfers
of ownership in the previous three years.
CURRENT STATUS
Subject Listed for Sale/Under Contract The northern 40.00 acres are listed for
$5,000,000 or $125,000 per gross acre. I
interviewed the listing agent, Andrew
Saluan, who said he has little interest and no
offers. According to Costar the property has
been on the market approximately 270 days.
The remaining 110.00 acres are listed for
$2,750,000 or $25,000 per gross acre. Andrew
also said that there has been little interest and
it has also been on the market for 270 days.
The combined asking price for both
properties is $7,750,000 or $51,667 per acre.
The combined property was also listed for
$5,998,000 or $39,987 per acre in late 2021.
The property was on the market for 176 days
and the listing expired January 1, 2022.
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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
40.00 ACRES
Legally Permissible: Collier County designates the property as “A” – Rural Agricultural
District - RFMUO – NBMO – Neutral, Rural Fringe Mixed Use District (RFMUO) – Neutral
Lands and the North Belle Meade Overlay. Neutral Lands have been identified for limited
semi-rural residential development. Available data indicates that Neutral Lands have a
higher ratio of native vegetation, and thus higher habitat values, than lands designated as
Receiving Lands, but these values do not approach those of Sending Lands.
Permitted uses include agricultural uses, single family uses at a maximum density of one
dwelling unit per 5 acres (0.2 units per acre), multi-family residential structures shall be
permitted under the Residential Clustering provision, group housing, farm labor housing,
sporting and recreational camps, essential services, golf courses, community facilities, and
private schools. A maximum of 8 residential units (0.20 units per acre) could be developed
under the current future land use.
The development rights may also be severed from Neutral Lands at a maximum rate of 0.2
TDR (Transfer of Development Rights) credits per acre (1 TDR Credit per five acres), with a
maximum of 4 TDR Credits. The subject would be entitled to 1 base TDR credit. Bonus
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TDR credits can also be obtained. The property would also qualify for 1 early entry TDR
bonus credit. The second bonus credit is the Environmental Restoration and Maintenance
Bonus credits which are generated at a rate of 1 credit for each TDR credit severed from that
RFMU sending land for which a Restoration and Management Plan (RMP) has been
accepted by the County. Conveyance Bonus credits are generated at a rate of 1 credit for
each TDR credit severed from that RFMU sending land that is conveyed in fee simple to a
federal, state, or local government agency as a gift.
The subject property would be entitled to a maximum of 32.00 TDR credits.
Physically Possible: Assuming there are no significant environmental issues, the subject
could be developed as single-family home site a one unit per 5.00 acres (0.20 units per acre)
or some type of agricultural operation. The site is served by well and septic systems and
electricity. The location, surrounding land uses, and the size of the property suggest some
type of rural agricultural use, single-family use, passive recreational use, or transfer the
TDR credits.
Financially Feasible: The financial feasibility of single-family residential development is
good. The single-family residential market continues to be strong, especially new
construction.
Due to the limited number of locations in Naples for agricultural uses, this is also a
financially feasible use. The majority of the current buyers are either land speculators or
owner-users.
There is a market for TDR credits. As development continues to move east, the developers
of land in the Rural Fringe Mixed Use District will become more reliant on TDRs to increase
their density. Collier County had originally established a minimum price of $25,000 per
base TDR credit, but that has been eliminated. Therefore, base credits and bonus density
credits are sold for any price. I interviewed Parker Kloph, Planner III with the Collier
County Growth Management Division with the most recent TDR rates being between $5,000
and $33,000 depending on the motivation of the user. I also interviewed Mark Dhondt,
CEO of B&G Land Holdings, who said the price for base TDR credits is approximately
$25,000. Based on the recent sales of TDR credits, the highest and best use is to sever and
sell the TDR credits and sell the undevelopable land to an owner-user for agricultural or
recreational uses.
Although it is not an economic use, acquisition of lands in the area by Collier County is
encouraged for habitat preservation and conservation.
Maximally Productive: The maximally productive use is to develop with a maximum of 8
single-family homes.
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110.00 ACRES
Legally Permissible: Collier County designates the property as “A” – Rural Agricultural
District - RFMUO – NBMO – Sending, Rural Fringe Mixed Use District (RFMUO) –
Sending Lands and the North Belle Meade Overlay. Sending Lands are those lands within
the Rural Fringe Mixed Use District that have the highest degree of environmental value
and sensitivity and generally include significant wetlands, uplands, and habitat for listed
species.
The zoning ordinance and future land use are consistent in identifying the property for
residential uses, varying types of ancillary agricultural uses, habitat preservation and
conservation, passive recreational uses, essential services, and oil and gas exploration. The
property can be used for agricultural purposes, a maximum of one single family home per
40 acres or one dwelling unit per lot or parcel of less than 40 acres, which existed on or
before June 22, 1999.
The development rights may also be severed from Sending Lands at a maximum rate of
0.2 TDR (Transfer of Development Rights) credits per acre (1 TDR Credit per five acres),
with a maximum of 4 TDR Credits. The subject would be entitled to 1 base TDR credit.
Bonus TDR credits can also be obtained. The property would also qualify for 1 early entry
TDR bonus credit. The second bonus credit is the Environmental Restoration and
Maintenance Bonus credits which are generated at a rate of 1 credit for each TDR credit
severed from that RFMU sending land for which a Restoration and Management Plan
(RMP) has been accepted by the County. Conveyance Bonus credits are generated at a rate
of 1 credit for each TDR credit severed from that RFMU sending land that is conveyed in
fee simple to a federal, state, or local government agency as a gift.
The subject property would be entitled to a maximum of 88.00 TDR credits.
Physically Possible: Assuming there are no significant environmental issues, the subject
could be developed as two single-family home sites or some type of agricultural operation.
The site is served by well and septic systems. The property has both legal and physical
access. The location, surrounding land uses, and the size of the property suggest some
type of rural agricultural use, single-family use, passive recreational use, or transfer the
TDR credits.
Financially Feasible: The financial feasibility of single-family residential development is
good. The single-family residential market continues to be strong, especially new
construction.
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Due to the limited number of locations in Naples for agricultural uses, this is also a
financially feasible use. The majority of the current buyers are either land speculators or
owner-users.
There is a market for TDR credits. As development continues to move east, the developers
of land in the Rural Fringe Mixed Use District will become more reliant on TDRs to
increase their density. Collier County had originally established a minimum price of
$25,000 per base TDR credit, but that has been eliminated. Therefore, base credits and
bonus density credits are sold for any price. I interviewed Parker Kloph, Planner III with
the Collier County Growth Management Division with the most recent TDR rates being
between $5,000 and $33,000 depending on the motivation of the user. I also interviewed
Mark Dhondt, CEO of B&G Land Holdings, who said the price for base TDR credits is
approximately $25,000. Based on the recent sales of TDR credits, the highest and best use
is to sever and sell the TDR credits and sell the undevelopable land to an owner-user for
agricultural or recreational uses.
Although it is not an economic use, acquisition of lands in the area by Collier County is
encouraged for habitat preservation and conservation.
Maximally Productive: The maximally productive use is to sever and sell the TDR credits
to possible developers and sell the undevelopable land to an owner-user for agricultural or
recreational uses.
PROPERTY AS IMPROVED
40.00 ACRES
Legally Permissible: The existing buildings and site improvements are consistent with
the Growth Management Plan and land development code and therefore are a legal use.
Physically Possible: The existing structures and site improvements are substantially
smaller than the ideal improvement or an under improvement of the site. Their position
on the site is not ideal for single-family development. The improvements are at the end of
their economic life.
Financially Feasible: The improvements do not represent the highest and best use of the
site and therefore contribute no additional value.
Maximally Productive – The highest and best use is the existing improvements be razed
and the site be redeveloped with a maximum of 8 single-family homes.
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CONSIDERATION OF APPROACHES
Only the sales comparison approach is appropriate for these vacant parcels.
At the request of the client, I was engaged to appraise the property under the three separate
tasks/value scenarios described below.
Task 1: One separate, standalone appraised value for 1 parcel with Folio # 00301320007 (40.0
acres). This parcel is in the Rural Lands Mixed Use District Neutral Lands.
Task 2: One separate, standalone appraised value for 10 parcels appraised as one unit
totaling 110 acres. Folio #s are: 00299120005 (10.0 acres) 00299800008 (5.0 acres) 00299440002
(10.0 acres) 00299920001 (5.0 acres) 00299480004 (15.0 acres) 00300800007 (10.0 acres)
00299560005 (5.0 acres) 00300880001 (15.0 acres) 00299680008 (15.0 acres) 00301800006 (20.0
acres) These parcels are in the Rural Lands Mixed Use District Sending Lands with a North
Belle Meade Overlay.
Task 3: One separate, standalone appraised value for all 11 parcels from Task 1 and Task 2
above appraised as one unit totaling 150.00 acres.
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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 parcels. The intention was to
find comparable sales in similar locations that offer similar functional utility.
Task 1 was to value the northern 40.00 acres. Six closed sales and one pending sale
(Comparables 1-7) were identified as the best available for analysis. The seven comparables
are all zoned “A” – Rural Agricultural District RFMUO – Neutral, Rural Fringe Mixed Use
District (RFMUO) – Neutral Lands with a Future Land Use of Neutral Lands.
Task 2 was to value the remaining 110.00 acres. Five closed sales (Comparables 8-12) were
identified as the best available for analysis. Four comparables are zoned “A” – Rural
Agricultural District RFMUO – Sending, Rural Fringe Mixed Use District (RFMUO) –
Sending Lands with a Future Land Use of Sending Lands. Comparable 8 is zoned “A-
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MHO-RLSAO” – Rural Agricultural District including a Mobile Home Overlay and Rural
Lands Stewardship Area Overlay, but was included because of its large size.
There have been a number sales throughout the North Belle Meade area throughout 2023.
All the sales are from B&G Land Holdings, LLC. They purchased 93 parcels from Resource
Conservation Properties, Inc. on January 20, 2023 for $100,000. I was able to speak with
Mark Dhondt, CEO of B&G Land Holdings, who said that all the properties have had their
base TDR credits severed and therefore have no development rights. B&G Land Holdings
has since begun to sell off these parcels for prices ranging from $3,000 to $5,000 per acre
throughout 2023. I was able to speak with Michael Adams, Operations Manager with B&G
Land Holdings, but due the confidentiality of the sales, he was unable to confirm the sale
prices, and how they were being marketed. Since the sales did not include development
rights/TDR credits I elected not to include the sales in my 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 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 – 40.00 ACRES
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LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES – 110.00 ACRES
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VACANT LAND COMPARABLE 1
ADDRESS 2256 Frangipani Avenue, Naples, FL 34117
PROPERTY ID NO. 00299080006
SALE PRICE $200,000
UNIT AREA 10.00 acres
UNIT PRICE $20,000 per acre
DATE OF RECORDING June 17, 2022
O.R. BOOK-PAGE 6145/852
CONTRACT DATE June 9, 2022
GRANTOR Dominic and Beverly Sparacino
GRANTEE Shermania 29, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Neutral Lands
ZONING A - Rural Agricultural-RFMUO-NBMO-Neutral
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 parcel was listed for $350,000 and was on the market 40 days.
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VACANT LAND COMPARABLE 2
ADDRESS 1626 Frangipani Avenue, Naples, FL 34117
PROPERTY ID NO. 00302080003, 00302120002, 00302160004
SALE PRICE $390,000
UNIT AREA 14.70 acres
UNIT PRICE $26,531 per acre
DATE OF RECORDING November 03, 2023
O.R. BOOK-PAGE 6303/2721
CONTRACT DATE October 6, 2023
GRANTOR Property Offer Pro, LLC
GRANTEE Shermania 29, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Neutral Lands
ZONING A - Rural Agricultural-RFMUO-NBMO-Neutral
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES Two of the parcels sold May 10, 2023 for $235,000.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through SWFLA MLS and Public Records. The property was listed for $390,000 and was on the market 175 days. Based on an
informal wetlands determination, the property is 100% uplands.
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VACANT LAND COMPARABLE 3
ADDRESS 2140 Frangipani Avenue, Naples, FL 34117
PROPERTY ID NO. 00301560003
SALE PRICE $155,000
UNIT AREA 5.00 acres
UNIT PRICE $31,000 per acre
DATE OF RECORDING November 10, 2022
O.R. BOOK-PAGE 6191/177
CONTRACT DATE Unknown
GRANTOR Liquid Property Group, LLC
GRANTEE Alfredo Arcia
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Neutral Lands
ZONING A - Rural Agricultural-RFMUO-NBMO-Neutral
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES The property sold on the same day for $81,000.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records. It does not appear the property was formally listed for sale.
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VACANT LAND COMPARABLE 4
ADDRESS 7555 Friendship Lane, Naples, FL 34120
PROPERTY ID NO. 00103280002, 00100800003, 00101200000
SALE PRICE $515,000
UNIT AREA 14.11 acres
UNIT PRICE $36,499 per acre
DATE OF RECORDING February 10, 2022
O.R. BOOK-PAGE 6085/3074
CONTRACT DATE January 13, 2022
GRANTOR Raymond and Lisa Pelletier
GRANTEE Gerardo Regaldo
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Mostly cleared including a small lake
LAND USE DESIGNATION Neutral Lands
ZONING A - Rural Agricultural-MHO-RFMUO-Neutral
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records. The property was listed for $550,000 and was on the market 1,001 days.
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VACANT LAND COMPARABLE 5
ADDRESS 1633 Angela Road, Naples, FL 34120
PROPERTY ID NO. 00102520006
SALE PRICE $350,000
UNIT AREA 8.58 acres
UNIT PRICE $40,793 per acre
DATE OF RECORDING December 01, 2023
O.R. BOOK-PAGE 6310/1558
CONTRACT DATE October 25, 2023
GRANTOR Jonathan Golden
GRANTEE Olde Florida Farm, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Neutral Lands
ZONING A - Rural Agricultural-MHO-RFMUO-Neutral
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES Sold February 24, 2022 for $235,000.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records and SWFLA MLS. The property was listed for $385,000 and was on the market 78 days. According to an
informal wetland determination dated August 5, 2021, the property has approximately 1.51 acres of medium quality wetlands scattered
around the property.
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VACANT LAND COMPARABLE 6
ADDRESS Ivy Way, Naples, FL 34117
PROPERTY ID NO. 00302680005
SALE PRICE $259,000
UNIT AREA 4.90 acres
UNIT PRICE $52,857 per acre
DATE OF RECORDING January 17, 2024
O.R. BOOK-PAGE 6322/2901
CONTRACT DATE Unknown
GRANTOR Angel Madera, Jr.
GRANTEE GGR Custom Cabinets, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Neutral Lands
ZONING A - Rural Agricultural-RFMUO-NBMO-Neutral
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES Sold July 31, 2023 for $135,000.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records. It does not appear the property was formally listed for sale.
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VACANT LAND COMPARABLE 7 (PENDING)
ADDRESS Brantley Boulevard, Naples, FL 34117
PROPERTY ID NO. 61731680000, 61731720009, 61731760001, 61734040003, 61734080005, 61734560004
SALE PRICE $6,695,000
UNIT AREA 96.84 acres
UNIT PRICE $69,135 per acre
DATE OF RECORDING N/A
O.R. BOOK-PAGE N/A
CONTRACT DATE February 16, 2023
GRANTOR John L. Cowan Trust Agreement and Jane Ann Cowan T
GRANTEE N/A
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Neutral Lands
ZONING A - Rural Agricultural-RFMUO-NBMO-Neutral
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 the pending sale with Erica Dawn Eister, listing agent. She was unable to disclose the contract price, but said it was close to the
asking price. She said the sale is supposed to close by the end of 2024 and she could also not disclose the intended use of t he buyers. The
property was listed for $6,695,000 and was on the market 300 days.
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VACANT LAND COMPARABLE 8
ADDRESS Oil Well Road, Immokalee, FL 34142
PROPERTY ID NO. 00233280008
SALE PRICE $5,500,000
UNIT AREA 639.17 acres
UNIT PRICE $8,605 per acre
DATE OF RECORDING July 07, 2023
O.R. BOOK-PAGE 6266/2604
CONTRACT DATE May 17, 2023
GRANTOR Paola Copeland Groverman Trust
GRANTEE We Struck Oil, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and slightly below road grade
GROUND COVER Cleared and Native Vegetation
LAND USE DESIGNATION Rural Lands Stewardship Area
ZONING “A-MHO-RLSAO” – Rural Agricultural District including a Mobile Home Overlay and
Rural Lands Stewardship Area Overlay
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 with Greg Zaino, buyer. He verified the sale price and the arm's-length nature. This was a speculative purchase, and he plans to
resell the property. The property was listed for $6,900,000 and was on the market 45 days.
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VACANT LAND COMPARABLE 9
ADDRESS Kam Luck Drive, Naples, FL 34117
PROPERTY ID NO. 00351560008
SALE PRICE $85,000
UNIT AREA 5.00 acres
UNIT PRICE $17,000 per acre
DATE OF RECORDING December 27, 2022
O.R. BOOK-PAGE 6202/1431
CONTRACT DATE December 7, 2022
GRANTOR Three Brothers Property, LLC
GRANTEE Rafael M. Lancon Garcia and Brenda N. Vallejo-Barrueta
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Sending Lands
ZONING A-RFMUO-NRPA-NBMO-SENDING
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 $199,999 and was on the market 340 days. The zoning is A-
RFMUO-NRPA-NBMO-SENDING. The parcel included development rights (TDR's included).
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VACANT LAND COMPARABLE 10
ADDRESS Wooodland Estates Road, Naples, FL 34117
PROPERTY ID NO. 00299960003
SALE PRICE $100,000
UNIT AREA 5.00 acres
UNIT PRICE $20,000 per acre
DATE OF RECORDING August 15, 2022
O.R. BOOK-PAGE 6164/1055
CONTRACT DATE June 13, 2022
GRANTOR Santosh and Shobha Jacob and Chacko and Accamma Jacob
GRANTEE Shermania 29, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level
GROUND COVER Native Vegetation
LAND USE DESIGNATION Sending Lands
ZONING A - Rural Agricultural-RFMUO-NBMO-Sending
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
The E 1/2 of the SE 1/4 of the SE 1/4 of the SE 1/4 of Section 13, Township 49 South, Range 27 East, Collier County, Florida.
VERIFICATION
Verified through Public Records and SWFLA MLS. The sale appears to be between two unrelated parties and therefore arm's-length. The
property was listed for $119,900 and was on the market 633 days before it went under contract.
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VACANT LAND COMPARABLE 11
ADDRESS 2000 Markley Avenue, Naples, FL 34117
PROPERTY ID NO. 00337480005, 00337360002, 00339800007, 00338120005, 00339840009, 00341880002,
00337120006, 00337320000
SALE PRICE $1,000,000
UNIT AREA 44.54 acres
UNIT PRICE $22,452 per acre
DATE OF RECORDING February 18, 2022
O.R. BOOK-PAGE 6087/1070
CONTRACT DATE Unknown
GRANTOR Abelardo Martinez
GRANTEE John R. Nebus
FINANCING Cash to seller
TOPO-ELEVATION Level
GROUND COVER Mostly Cleared
LAND USE DESIGNATION Sending Lands
ZONING A - Rural Agricultural-RFMUO-NBMO-Sending
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified through Public Records. The sale appears to be between two unrelated parties and therefore arm's-length. It does not appear the
property was formally listed for sale.
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VACANT LAND COMPARABLE 12
ADDRESS 1480 Peach Place, Naples, FL 34117
PROPERTY ID NO. 00300440001, 002994000000, 00299280000, 00300920000, 0030028009, 00300160006,
00299880002, & 00299320009
SALE PRICE $1,700,000
UNIT AREA 50.00 acres
UNIT PRICE $34,000 per acre
DATE OF RECORDING June 04, 2021
O.R. BOOK-PAGE 5960/2559
CONTRACT DATE March 7, 2021
GRANTOR Curtis D. Mitchell
GRANTEE Matthew Wilson Lacy
FINANCING Cash to seller
TOPO-ELEVATION Level
GROUND COVER Cleared
LAND USE DESIGNATION Sending Lands
ZONING A - Rural Agricultural-RFMUO-NBMO-Sending
IMPROVEMENTS
The property is improved with an average to good quality single-family residence
constructed by Gulfstream Homes in 2001. The structure is constructed of CBS and
designed with a hip roof finished with concrete tiles. The home consists of 2,217 square
feet or gross living area and includes a 462 square foot 2-car garage, a covered entry, and a
398 square foot screened lanai. The home is designed with 3 bedrooms, den, and two
bathrooms. Interior finishes include ceramic tile and carpet floors, drywall walls and
ceilings, wood cabinets, and laminate countertops in the kitchen. Site improvements
consist of approximately 12,210 linear feet of four-foot, 4-strand barbed wire fencing on
wooden posts. There is a lime rock driveway extending from the property entrance to the
house, a metal gate at the entrance, a concrete pad near the garage, and average quality
landscaping, lighting, and irrigation surrounding the house. There are also three irrigation
wells with submersible pumps and underground PVC piping extending to the eastern
and western edges of the property.
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UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
Lengthy legal description retained in appraiser's file.
VERIFICATION
Verified with Lisa Marie Johnson, listing agent. She verified the sale price and the arm's-length nature. The property was listed for
$1,750,000 and has been on the market 675 days or over 22 months. The price originally began at $1,900,000 December 27, 2018 and had
been reduced multiple times over the past couple of years.
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LAND SALES ADJUSTMENT GRID – 40.00 ACRES
ITEM SUBJECT COMP #1 COMP #2 COMP #3 COMP #4 COMP #5 COMP #6 COMP #7
PENDING
PROPERTY IDENTIFICATION 1330 20th Street 2256 Frangipani 1626 Frangipani 2140 Frangipani 7555 Friendship 1633 Angela Ivy Way Brantley Blvd.
SE Ave.Ave.Ave.Ln.Rd.
SALE PRICE N/A $200,000 $390,000 $155,000 $515,000 $350,000 $259,000 $6,695,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0 0 0
CONDITIONS OF SALE Market Market Market Market Market Market Market Market
0 0 0 0 0 0 0
BUILDING IMPROVEMENTS Cleared None None None None None None None
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 Cash to seller N/A
Equivalent 0 0 0 0 0 0 0
ADJUSTED SALE PRICE N/A $200,000 $390,000 $155,000 $515,000 $350,000 $259,000 $6,695,000
Recording Date N/A 06/17/22 11/03/23 11/10/22 02/10/22 12/01/23 01/17/24 01/17/24
Months Prior To Effective Date 01/17/24 19.03 2.47 14.23 23.21 1.55 0.00 0.00
MARKET CHANGE ADJUSTMENT N/A 14.3%1.8%10.7%17.4%1.2%0.0%0.0%
ADJUSTED SALE PRICE N/A $228,550 $397,212 $171,547 $604,643 $354,056 $259,000 $6,695,000
Parcel Area in Gross Acres 40.00 10.00 14.70 5.00 14.11 8.58 4.90 96.84
PRICE PER ACRE ?$22,855 $27,021 $34,309 $42,852 $41,265 $52,857 $69,135
LOCATION
ADDRESS 20th St. SE Frangipani Ave.Frangipani Ave.Frangipani Ave.Friendship Ln.Angela Rd.Ivy Way Brantley Blvd.
LEGAL ACCESS Yes Yes Yes Yes Yes Yes Yes Yes
PHYSICAL ACCESS Yes Yes Yes Yes Yes Yes Yes Yes
OVERALL LOCATION Average Similar Similar Similar Superior Superior Similar Superior
0%0%0%-10%-10%0%-20%
UTILITIES Well & Septic Similar Similar Similar Similar Similar Similar Similar
Electric 0%0%0%0%0%0%0%
COMP. PLAN Neutral Similar Similar Similar Similar Similar Similar Similar
ZONING A-RFMUO-NBMO Similar Similar Similar Similar Similar Similar Similar
NEUTRAL 0%0%0%0%0%0%0%
SIZE IN ACRES 40.00 10.00 14.70 5.00 14.11 8.58 4.90 96.84
SHAPE/CONFIGURATION Square Similar Similar Similar Similar Similar Similar Similar
0%0%-5%0%-5%-5%0%
PHYSICAL CHARACTERISTICS Mostly Cleared Inferior Inferior Inferior Similar Inferior Similar Inferior
5%5%5%0%5%0%5%
GROSS ADJUSTMENT N/A 5%5%10%10%20%5%25%
INDICATION OF UNIT VALUE ?$23,998 $28,372 $34,309 $38,567 $37,139 $50,214 $58,764
Page 1137 of 7162
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LAND SALES ADJUSTMENT GRID – 110.00 ACRES
ITEM SUBJECT COMP #8 COMP #9 COMP #10 COMP #11 COMP #12
110.00 Acres
PROPERTY IDENTIFICATION 20th Street SE Oil Well Rd.Kam Luck Dr.Woodland 2000 Markley 1480 Peach
Estates Rd.Ave.Place
SALE PRICE N/A $5,500,000 $85,000 $100,000 $1,000,000 $1,700,000
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 Cleared None None None None Yes
0 0 0 0 (450,000)
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 $5,500,000 $85,000 $100,000 $1,000,000 $1,250,000
Recording Date N/A 07/07/23 12/27/22 08/15/22 02/18/22 06/04/21
Months Prior To Effective Date 01/17/24 6.38 12.69 17.09 22.95 31.46
MARKET CHANGE ADJUSTMENT N/A 4.8%9.5%12.8%17.2%23.6%
ADJUSTED SALE PRICE N/A $5,763,067 $93,089 $112,821 $1,172,091 $1,544,933
Parcel Area in Gross Acres 110.00 639.17 5.00 5.00 44.54 50.00
PRICE PER ACRE ?$9,016 $18,618 $22,564 $26,315 $30,899
LOCATION
ADDRESS 20th St. SE Oil Well Rd.Kam Luck Dr.Wooodland Est.Markley Ave.Peach Pl.
LEGAL ACCESS Yes Yes Yes Yes Yes Yes
PHYSICAL ACCESS Yes Yes Yes Yes Yes Yes
OVERALL LOCATION Average Inferior Inferior Inferior SL Superior Similar
20%10%10%-5%0%
UTILITIES Well & Septic Similar Similar Similar Similar Similar
Electric 0%0%0%0%0%
COMP. PLAN Neutral Similar Similar Similar Similar Similar
ZONING A-RFMUO-NBMO Similar Similar Similar Similar Similar
SENDING 0%0%0%0%0%
SIZE IN ACRES 110.00 639.17 5.00 5.00 44.54 50.00
SHAPE/CONFIGURATION Irregular Similar Superior Similar Similar Similar
10%-10%-10%-5%-5%
PHYSICAL CHARACTERISTICS Partially Cleared Similar Inferior Similar Similar Superior
0%5%0%0%-10%
GROSS ADJUSTMENT N/A 30%25%20%10%15%
INDICATION OF UNIT VALUE ?$11,721 $19,549 $22,564 $23,684 $26,264
Page 1138 of 7162
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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.
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• Comparable 12 was improved with a single-family residence and various site
improvements and was adjusted downward $450,000 for the contribution value of the
improvements.
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 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’s remote location
reduces the number of buyers for this type of real estate, however entry level land is in
demand and there appears to be a market for TDR credits.
Comparable 2, 5, and 6 have all sold and resold within the past three years. Five sales are
presented below, including the three comparables. The sales indicate market change rates
from 1.85% to 16.34% per month. The high indicators are short time frames, which
indicate that the property likely sold below market the first time and therefore the market
change rates are not good indicators.
The sales utilized in the report range from pending sales to over 31 months old. Based om
the market change rates above and the overall market, I adjusted the sales 0.75% per
month or 9.00% annually for market change.
LOCATION/ACCESS/EXPOSURE
This category of adjustment reflects the impact on value caused by the advantages or
disadvantages of a given location.
Address Parcel ID#Prior Sale Recent Sale Months Prior Sale Price Recent Sale Price Appreciation Monthly Change
Frangipani Ave 302080003 05/10/23 11/01/23 5.75 $235,000 $260,000 10.64%1.85%
1633 Angela Rd.102520006 02/24/22 12/01/23 21.20 $235,000 $350,000 48.94%2.31%
Ivy Way 302680005 07/31/23 01/18/24 5.62 $135,000 $259,000 91.85%16.34%
1478 Ivy Way 01/03/19 04/21/23 51.58 $58,000 $150,000 158.62%3.08%
No Address 316280006 01/20/23 04/07/23 2.53 $100,000 $115,000 15.00%5.93%
AVG 5.90%
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• Comparables 4 and 5 are located north of Immokalee Road. This is a superior location
which commands higher underlying land values and Comparables 4 and 5 were
adjusted downward 10% each for their superior locations.
Comparable 7 is located west of the subject and adjacent to the Hideout Golf Club and
access is from a paved road. Comparable 7 was adjusted downward 20% for its
superior location.
Comparable 8 is located east of SR 29 on Oil Well Road. This is an inferior location and
was adjusted upward 20%.
Comparable 9 and 10 are inferior locations and each was adjusted upward 10%.
Comparable 11 is located west of the subject and was adjusted downward 5% for its
slightly superior location.
UTILITIES/INFRASTRUCTURE
This category of adjustment references the availability and adequacy of the road system,
the public was distribution system and the public wastewater collection system of each
comparable property as that compares with the same services available to the subject
property.
• None of the comparable sales required adjustment in this category.
COMPREHENSIVE PLAN/LAND USE
This category of adjustment accounts for differences in the potential land uses
(Comprehensive Plan) or in the specific uses (Zoning) to which a property could be
developed. Differences in value between the subject property and comparable sales might
exist because their highest and best uses are different as a result of government regulation
through zoning and land use controls.
• None of the 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 4.90 to 639.17 gross acres. To account for the
inverse relationship that often exists between size and unit value, the comparables
required adjustments.
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Comparables 3, 5, and 6 are considerably smaller than the subject and were adjusted
downward 5% each.
Comparables 9 and 10 are significantly smaller than the subject and were adjusted
downward 10% each. Comparables 11 and 12 are smaller and were adjusted
downward 5% each. Comparable 8 is significantly larger than the subject and was
adjusted upward 10%.
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.
• Comparables 1, 2, 3, 5, 7, and 9 were all adjusted upward 5% for their inferior physical
characteristics. Comparable 12 is completely cleared and sodded and was adjusted
downward 10% for its superior physical characteristics.
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RECAPITULATION OF DATA
After making the adjustments discussed above, the comparable sales indicated the
following unit values:
40.00 ACRES
Comparables Price Per Gross Acre
of Land Area
1 $17,000
2 $13,600
3 $11,765
4 $12,320
5 $9,000
6 $9,540
7 $6,765
8 $11,765
RECONCILIATION OF DATA
To arrive at a conclusion regarding the value of the subject, the comparable sales and their
indications of value should be weighted according to the quality of each as a value
indicator.
Comparables 3, 5, and 6 are the strongest indicators of value. They are the most recent sales
which increases their strength as indicators of value. Comparables 3, 5, and 6 were
weighted 20% each.
Comparables 2 and 4 are good indicators of value and were weighted 15% each.
Comparable 1 is clearly ad low indicator of value and was weighted 10%.
Comparable 7 is a current listing/pending sale, however I was unable to confirm the
contract price. I typically don’t weight listings, but they tend to set an upper limit of value.
Therefore, the subject should be less than $58,764 per gross acre.
The range of unit value indications is from $23,998 to $58,764 per acre with an average of
$35,433 per acre and a median of $35,724 per acre. The weighting process discussed above
indicates a unit value of $36,773 per acre.
Based on the range of sales, I concluded to a unit value of $36,000 per acre.
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ESTIMATE OF VALUE – 40.00 ACRES
$36,000 per gross acre results in an indication of value for the 40.00 acres as of January 17,
2024, of $1,440,000 (40.00 acres x $36,000 per acre).
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110.00 ACRES
Comparables Price Per Gross Acre
of Land Area
8 $11,721
9 $19,549
10 $22,564
11 $23,684
12 $26,264
RECONCILIATION OF DATA
To arrive at a conclusion regarding the value of the subject, the comparable sales and their
indications of value should be weighted according to the quality of each as a value
indicator.
Comparable 11 is the strongest indicator of value. It is most similar to the subject and was
weighted 30%.
Comparables 9 and 10 are good indicators of value and were weighted 20% each.
Comparable 12 is an older sale and it required an adjustment for building improvements,
but it is adjacent to the subject and was weighted 20%.
Comparable 8 is a low indicator of value and it required the most adjustments. Comparable
8 received a minimal weighting of 10%.
The range of unit value indications is from $11,721 to $26,264 per acre with an average of
$20,756 per acre and a median of $22,564 per acre. The weighting process discussed above
indicates a unit value of $20,781 per acre.
Based on the range of sales, I concluded to a unit value of $21,000 per acre.
ESTIMATE OF VALUE – 110.00 ACRES
$21,000 per gross acre results in an indication of value for the 110.00 acres as of January 17,
2024, of $2,310,000 (110.00 acres x $21,000 per acre).
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150.00 ACRES
The third task/value scenario was to value all 150.00 acres as one. I searched the market for
sales of land with both Sending and Neutral lands, but I was unable to find any sales.
Although the combined acreage is larger, it does not appear that the market would discount
the price. The 40.00 acres could be sold off separately or the 11 parcels could be sold
individually.
Based on my experience and market data, the sum of the two parts equal the whole.
Market Value of the 40.00 Acres $1,440,000
Market Value of the 110.00 Acres $2,310,000
Market Value of the 150.00 Acres $3,750,000
ESTIMATE OF VALUE – 150.00 ACRES
The indication of value for the 150.00 acres as of January 17, 2024 is $3,750,000 or $25,000 per
gross acre.
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
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ADDENDA
(In Order of Appearance)
Page Topic Count Page(s) Page(s)
Assumptions and Limiting Conditions............................................................................ 2
Future Land Use................................................................................................................... 13
Zoning.................................................................................................................................... 16
Listing Flyers......................................................................................................................... 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
The northern 40.00 acres are improved with a private shooting range. I was not provided
with any environmental reports and therefore I have assumed the property is not
contaminated.
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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A. Rural Fringe Mixed-Use District (RFMU District).
1. Purpose and scope. The purpose and intent of the RFMU district is to provide a transition between
the Urban and Estates Designated lands and between the Urban and Agricultural/Rural and
Conservation designated lands farther to the east. The RFMU district employs a balanced approach,
including both regulations and incentives, to protect natural resources and private property rights,
providing for large areas of open space, and allowing, in designated areas, appropriate types, density
and intensity of development. The RFMU district allows for a mixture of urban and rural levels of
service, including limited extension of central water and sewer, schools, recreational facilities,
commercial uses and essential services deemed necessary to serve the residents of the RFMU
district. The innovative planning and development techniques which are required and/or encouraged
within the RFMU district were developed to preserve existing natural resources, including habitat for
listed species, to retain a rural, pastoral, or park-like appearance from the major public rights-of-way,
and to protect private property rights.
a. Establishment of RFMU Zoning Overlay District. In order to implement the RFMU designation in the
Future Land Use Element (FLUE) of the GMP, the RFMU District shall be designated as
"RFMUO" on the Official Zoning Atlas and is hereby established. The County -wide Future Land
Use Map is located in the Future Land Use Element of the GMP or can be obtained at the
Community Development Building, located at 2800 N. Horseshoe Drive, Naples, FL 34104. The
lands included in the RFMU District and to which this section 2.03.08 apply are depicted by the
following map:
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b. Exemptions. The requirements of this section shall not apply to, affect or limit the continuation of
existing uses. Existing uses shall include those uses for which all required permits were issued
prior to June 19, 2002, and projects for which a Conditional use or Rezone petition has been
approved by the County prior to June 19, 2002, or land use petitions for which a completed
application has been submitted prior to June 19, 2002. The continuation of existing uses shall
include expansions of those uses if such expansions are consistent with or clearly ancillary to the
existing uses. Hereafter, such previously approved development s shall be deemed to be
consistent with the Plan's Goals, Objectives and Policies and for the RFMU district, and they may
be built out in accordance with their previously approved plans. Changes to these previous
approvals shall also be deemed consistent with the Plan's Goals, Policies and Objectives for the
RFMU district as long as they do not result in an increase in development density or intensity.
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c. Ordinance superceded. Ordinance Number 98-17 is hereby expressly superceded. Any
development in the area formerly subject to that ordinance shall henceforth conform to the
provisions of this Section and all other provisions of this Code that are applicable to development
within the RFMU district.
4. RFMU sending lands. RFMU sending lands are those lands that have the highest degree of
environmental value and sensitivity and generally include significant wetlands, uplands, and habitat for
listed species. RFMU sending lands are the principal target for preservation and conservation. Density
may be transferred from RFMU sending lands as provided in section 2.03.07 D.4.c. All NRPAs within
the RFMU district are also RFMU sending lands. With the exception of specific provisions applicable
only to NBMO neutral lands, the following standards shall apply within all RFMU sending lands:
a. Allowable uses where TDR credits have not been severed.
(1) Uses Permitted as of Right:
(a) Agricultural uses consistent with Sections 163.3162 and 823.14(6) Florida Statutes
(Florida Right to Farm Act).
(b) Detached single-family dwelling units, including mobile homes where the mobile
home Zoning Overlay exists,
(c) Habitat preservation and conservation uses.
(d) Passive parks and other passive recreational uses.
(e) Sporting and Recreational camps, within which the lodging component shall not exceed 1
unit per 5 gross acres.
(f) Those essential services identified in section 2.01.03(B).
(g) Oil and gas exploration, subject to applicable state and federal drilling permits and
Collier County non-environmental site development plan review procedures. Directional-
drilling and/or previously cleared or disturbed areas shall be utilized in order to minimize
impacts to native habitats, where determined to be practicable. This requirement shall be
deemed satisfied upon issuance of a state permit in compliance with the criteria
established in Chapter 62C-25 through 62C-30, F.A.C., as such rules existed on Oct. 3,
2005 [the effective date of this provision], regardless of whether the activity occurs within
the Big Cypress Watershed, as defined in Rule 62C-30.001(2), F.A.C. All applicable
Collier County environmental permitting requirements shall be considered satisfied by
evidence of the issuance of all applicable federal and/or state oil and gas permits for
proposed oil and gas activities in Collier County, so long as the state permits comply with
the requirements of Chapter 62C-25 through 62C-30, F.A.C. For those areas of Collier
County outside the boundary of the Big Cypress Watershed, the applicant shall be
responsible for convening the Big Cypress Swamp Advisory Committee as set forth in
Section 377.42, F.S., to assure compliance with Chapter 62C-25 through 62C-30, F.A.C.,
even if outside the defined Big Cypress Watershed. All oil and gas access roads shall be
constructed and protected from unauthorized uses according to the standards
established in Rule 62C-30.005(2)(a)(1) through (12), F.A.C.
(2) Accessory uses. Accessory uses and structures that are accessory and incidental to uses
permitted as of right in section 2.03.08 (A)(2)(a)(1) above.
(3) Conditional uses.
(a) Those essential services identified in section 2.01.03 G.2.
(b) Public facilities, including solid waste and resource recovery facilities, and public vehicle
and equipment storage and repair facilities, shall be permitted within Section 25,
Township 49S, Range 26E, on lands adjacent to the existing County landfill. This shall
not be interpreted to allow for the expansion of the landfill into Section 25 for the purpose
of solid waste disposal.
(c) Oil and gas field development and production, subject to applicable state and federal
field development permits and Collier County non-environmental site development plan
review procedures. Directional-drilling and/or previously cleared or disturbed areas shall
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be utilized in order to minimize impacts to native habitats, where determined to be
practicable. This requirement shall be deemed satisfied upon issuance of a state permit
in compliance with the criteria established in Chapter 62C-25 through 62C-30, F.A.C., as
those rules existed on Oct. 3, 2005 [the effective date of this provision], regardless of
whether the activity occurs within the Big Cypress Watershed, as defined in Rule 62C-
30.001(2), F.A.C. All applicable Collier County environmental permitting requirements
shall be considered satisfied by evidence of the issuance of all applicable federal and/or
state oil and gas permits for proposed oil and gas activities in Collier County, so long as
the state permits comply with the requirements of Chapter 62C -25 through 62C-30,
F.A.C. For those areas of Collier County outside the boundary of the Big Cypress
Watershed, the applicant shall be responsible for convening the Big Cypress Swamp
Advisory Committee as set forth in Section 377.42, F.S., to assure compliance with
Chapter 62C-25 through 62C-30, F.A.C., even if outside the defined Big Cypress
Watershed. All oil and gas access roads shall be constructed and protected from
unauthorized uses according to the standards established in Rule 62C-30.005(2)(a)(1)
through (12), F.A.C.
(d) Commercial uses accessory to permitted uses 1.a, 1.c. and 1.d above, such as retail
sales of produce accessory to farming, or a restaurant accessory to a park or preserve,
so long as restrictions or limitations are imposed to insure the commercial use functions
as an accessory, subordinate use.
b. Uses allowed where TDR credits have been severed.
(1) Uses Permitted as of Right:
(a) Agricultural uses consistent with Sections 163.3162 and 823.14(6) Florida Statutes
(Florida Right to Farm Act), including water management facilities, to the extent and
intensity that such operations exist at the date of any transfer of development rights.
(b) Cattle grazing on unimproved pasture where no clearing is required;
(c) Detached single-family dwelling units, including mobile homes where the mobile
home Zoning Overlay exists, at a maximum density of one dwelling unit per 40 acres. In
order to retain these development rights after any transfer, up to one dwelling must be
retained (not transferred) per 40 acres.
(d) One detached dwelling unit, including mobile homes where the mobile home zoning
overlay exists, per lot or parcel in existence as of June 22, 1999, that is less than 40
acres. In order to retain these development rights after any transfer, up to one dwelling
must be retained (not transferred) per each lot or parcel. For the purposes of this
provision, a lot or parcel shall be deemed to have been in existence as of June 22, 1999,
upon a showing of any of the following:
i. the lot or parcel is part of a subdivision that was recorded in the public records of
the County on or before June 22, 1999;
ii. a description of the lot or parcel, by metes and bounds or other specific legal
description, was recorded in the public records of the County on or before June 22,
1999; or
iii. an agreement for deed for the lot or parcel, which includes description of the lot or
parcel by limited fixed boundary, was executed on or before June 22, 1999.
(e) Habitat preservation and conservation uses.
(f) Passive parks and passive recreational uses.
(g) Those essential services identified in section 2.01.03 B.
(h) Oil and gas exploration, subject to applicable state and federal drilling permits and
Collier County non-environmental site development plan review procedures. Directional-
drilling and/or previously cleared or disturbed areas shall be utilized in order to minimize
impacts to native habitats, where determined to be practicable. This requirement shall be
deemed satisfied upon issuance of a state permit in compliance with the criteria
established in Chapter 62C-25 through 62C-30, F.A.C., as those rules existed on Oct. 3,
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2005 [the effective date of this provision], regardless of whether the activity occurs within
the Big Cypress Watershed, as defined in Rule 62C-30.001(2), F.A.C. All applicable
Collier County environmental permitting requirements shall be considered satisfied by
evidence of the issuance of all applicable federal and/or state oil and gas permits for
proposed oil and gas activities in Collier County, so long as the state permits comply with
the requirements of Chapter 62C-25 through 62C-30, F.A.C. For those areas of Collier
County outside the boundary of the Big Cypress Watershed, the applicant shall be
responsible for convening the Big Cypress Swamp Advisory Committee as set forth in
Section 377.42, F.S., to assure compliance with Chapter 62C-25 through 62C-30, F.A.C.,
even if outside the defined Big Cypress Watershed. All oil and gas access roads shall be
constructed and protected from unauthorized uses according to the standards
established in Rule 62C-30.005(2)(a)(1) through (12), F.A.C.
(i) Mitigation in conjunction with any County, state, or federal permitting.
(2) Conditional uses:
(a) Those Essential Uses identified in section 2.01.03 G.2.
(b) Oil and gas field development and production, subject to applicable state and federal
field development permits and Collier County non-environmental site development plan
review procedures. Directional-drilling and/or previously cleared or disturbed areas shall
be utilized in order to minimize impacts to native habitats, where determined to be
practicable. This requirement shall be deemed satisfied upon issuance of a state permit
in compliance with the criteria established in Chapter 62C-25 through 62C-30, F.A.C., as
those rules existed on Oct. 3, 2005 [the effective date of this provision], regardless of
whether the activity occurs within the Big Cypress Watershed, as defined in Rule 62C-
30.001(2), F.A.C. All applicable Collier County environmental permitting requirements
shall be considered satisfied by evidence of the issuance of all applicable federal and/or
state oil and gas permits for proposed oil and gas activities in Collier County, so long as
the state permits comply with the requirements of Chapter 62C -25 through 62C-30,
F.A.C. For those areas of Collier County outside the boundary of the Big Cypress
Watershed, the applicant shall be responsible for convening the Big Cypress Swamp
Advisory Committee as set forth in Section 377.42, F.S., to assure compliance with
Chapter 62C-25 through 62C-30, F.A.C., even if outside the defined Big Cypress
Watershed. All oil and gas access roads shall be constructed and protected from
unauthorized uses according to the standards established in Rule 62C-30.005(2)(a)(1)
through (12), F.A.C.
(c) Conditional use approval criteria: In addition to the criteria set forth in section 10.08.00 of
this Code, the following additional criteria shall apply to the approval of conditional uses
within RFMU sending lands:
i. The applicant shall submit a plan for development that demonstrates that
wetlands, listed species and their habitat are adequately protected as specified in
Chapters 3, 4 and 10.
ii. Conditions may be imposed, as deemed appropriate, to limit the size, location, and
access to the conditional use.
c. Density.
(1) 1.0 dwelling units per 40 gross acres; or
(2) 1.0 dwelling unit per nonconforming lot or parcel in existence as of June 22, 1999. For the
purpose of this provision, a lot or parcel which is deemed to have been in existence on or
before June 22, 1999 is:
(a) A lot or parcel which is part of a subdivision recorded in the public records of Collier
County, Florida;
(b) A lot or parcel which has limited fixed boundaries, described by metes and bounds or
other specific legal description, the description of which has been recorded in the public
records of Collier County Florida on or before June 22, 1999; or
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(c) A lot or parcel which has limited fixed boundaries and for which an agreement for deed
was executed prior to June 22, 1999.
d. Native vegetation retention. As required in Chapter 4
e. Other dimensional design standards. Dimensional standards set forth in section 4.02.01 of this
Code shall apply to all development in Sending designated lands of the RFMU district, except as
follows:
(1) Lot Area and Width.
(a) Minimum lot Area: 40 acres.
(b) Minimum lot Width: 300 Feet.
(2) Parking. As required in Chapter 4
(3) Landscaping. As required in Chapter 4
(4) Signs. As required in section 5.06.00
5. Specific vegetation standards for the RFMU district. For these specific standards, please refer to
section 3.05.07 C. through 3.05.07 E. of this Code.
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C. North Belle Meade Overlay District (NBMO).
1. Purpose and intent. The North Belle Meade Overlay (NBMO) is unique to the RFMU district because
it is surrounded by areas that are vested for development on three sides. Because this area is largely
undeveloped and includes substantial vegetated areas, the NBMO can and does provide valuable
habitat for wildlife, including endangered species. The NBMO is intended to achieve a balance of both
preservation and opportunities for future development that takes into account resource protection and
the relationship between this area and the Estates developing around the NBMO.
2. General location. The NBMO District is surrounded by Golden Gate Estates to the north, east, and west
and I-75 to the south. This NBMO comprises some 24 sections of land (approximately 15,550 acres)
located entirely within the RFMU District (section 2.03.08 A.). The boundaries of the NBMO District are
outlined in Illustration 2.03.08 D.2.A below and on the North Belle Meade Overlay Map in the Future
Land Use Element of the GMP.
Illustration 2.03.08 D.2.A.
3. Applicability:
a. NBMO receiving lands. Permitted, conditional, and accessory uses within NBMO Receiving Lands
shall be as set forth in section 2.03.08 (A)(2), except as provided in section 2.03.08 (D)(5). All other
provisions of this Code that implement the Future Land Use Element, Conservation and Coastal
Management Element, or Public Facilities Element, including but not limited to Chapters 3, 4 and
10, shall only be applicable to development in NBMO Receiving Lands to the extent specifically
stated in this section. However, all development within NBMO Receiving Lands shall comply with
all non-environmental review procedures for site development plans and platting as set forth in this
Code.
b. NBMO neutral lands. Except as otherwise specifically provided in section 2.03.08 D.4. and section
2.03.08 D.5.b., all development within NBMO neutral lands shall be consistent with section 2.03.08
A.3.
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c. NBMO sending lands. Except as otherwise specifically provided in section 2.03.08 D.4., all
development with NBMO Sending Lands shall be consistent with section 2.03.08 A.4.
4. General planning and design considerations:
a. Transportation. As a condition for the approval of the residential component of any subdivision plat,
site development plan, PUD, or DRI within Sections 21, 28, or 27 of the NBMO, the following
transportation related improvements and planning and design elements shall be addressed and
provision made for their completion.
(1) An extension of Wilson Boulevard shall be provided, including ROW dedication and
construction to County collector road standards, through Section 33, Range 27 East,
extending to the south to Interstate 75 via an interchange or service road for residential
development should it commence in Sections 21, 28 and 27. The portion of Wilson Boulevard
that traverses through NBMO Sending Lands shall be designed with aquatic species crossings
and small terrestrial animal crossings.
(2) As an alternative to (1) above, a haul road along an extension of Wilson Boulevard shall be
improved to standards sufficient, in the opinion of County transportation staff, to safely serve
earth-mining activities with a connection through Sections 32 and 31 to Landfill Road.
(3) Lands required for the extension of Wilson Boulevard will be dedicated to Collier County at the
time of rezoning. The right-of-way shall be of a sufficient size to accommodate collector road
requirements.
(4) All new roads and road improvements, other than the Wilson Boulevard extension and the
haul road referenced in 2 above, shall:
(a) be routed so as to avoid traversing publicly owned natural preserves, publicly owned
parks, publicly owned recreation areas, areas identified as environmentally sensitive
wildlife habitat, wildlife corridors, and greenways unless there is no feasible and prudent
alternative; and
(b) be designed with aquatic species crossings, small terrestrial animal crossings, and large
terrestrial animal crossings pursuant to Florida Fish and Wildlife Conservation
Commission criteria.
b. Buffering. The western ¼ of Sections 22 and 27 shall be buffered from the NBMO NRPA to the
east by a buffer preservation that includes all of the eastern ½ of the western ¼ of Sections 22 and
27. This buffer shall consist of lake excavation areas between the Wilson Boulevard extension road
right-of-way and the NRPA.
c. Greenway. A Greenway that follows natural flowways, as contemplated in the Community
Character Plan prepared by Dover Kohl, shall be created within NBMO Sending Lands. As a
condition to the creation of TDR credits from NBMO Sending Lands that constitute natural
flowways, such lands shall be dedicated to a public or private entity for use as part of the
Greenway.
5. Additional specific area provisions.
a. Receiving lands.
(1) Density.
(a) The base density in RFMU receiving lands, outside of a rural village is one dwelling unit
per five (5) gross acres.
(b) This density may be increased, through TDR credits and TDR Bonus Credits, up to a
maximum of 1 dwelling unit per gross acre.
(c) Once a density of 1 dwelling unit per gross acre is achieved through TDR credits and
TDR Bonus Credits, additional density may be achieved as follows:
i. 0.1 dwelling unit per acre for each acre of native vegetation preserved on-site;
ii. 0.1 dwelling unit per acre for each acre of wetlands having a functionality value, as
assessed using the South Florida Water Management District's Unified Wetlands
Mitigation Assessment Method, of 0.65 or greater that are preserved on-site; and/or
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iii. 0.1 dwelling unit per acre for each acre of NBMO Sending Land that is within either
a NRPA or a buffer area adjoining a NRPA that is dedicated to a public or private
entity for conservation use.
(2) The earth mining operation and asphalt plant uses that currently exist within NBMO Receiving
Lands may continue and may expand as follows:
(a) Until June 19, 2005, or such other date as the GMP is amended to provide, such uses
may expand only into the western half of Section 21 and shall not generate truck traffic
beyond average historic levels.
(b) Such mining operations and an asphalt plant may expand on Sections 21 and 28 and the
western quarters of 22 and 27 as a permitted use if either of the following occurs by June
19, 2005, or such other date as the GMP is amended to provide:
i. an alignment has been selected, funding has been determined, and an accelerated
construction schedule established by the BCC and the mine operator, for an east -
west connector roadway between County Road 951 and the Wilson Boulevard
extension; or
ii. the mine operator commits to construct a private haul road by June 19, 2007, or
such other date as the GMP is amended to provide, without the use of any public
funds.
(c) If the conditions for expansion set forth in b above are not satisfied, any mining
operations or asphalt plant in these areas, other than continued operations on the
western half of Section 21 at historic levels, shall be permitted only as a conditional use.
(3) A greenbelt is not required for any development in NBMO Receiving Lands, whether inside or
outside of a rural village. However, any greenbelt that is provided in a NBMO rural village shall
be included in the calculation of open space.
(4) NBMO rural village. A NBMO rural village shall adhere to the provisions for rural village set
forth in section 2.03.08 (A)(2)(b), except as follows:
(a) Density. An NBMO rural village shall have a minimum gross density of 1.5 dwelling units
per acre and a maximum gross density of three (3) dwelling units per acre.
i. The minimum required density shall be achieved through TDR credits, TDR Bonus
Credits, and Rural Village Bonus credits, as provided in section 2.03.08 A.2.b.(3)(C).
ii. Once the minimum required density is achieved, additional density may be
achieved, up to the maximum of three (3) dwelling units per gross acre through any
one or combination of the following:
a) TDR credits;
b) TDR Bonus Credits;
c) 0.3 dwelling unit per acre for each acre of native vegetation preserved on-site;
d) 0.3 dwelling unit per acre for each acre of wetlands having a functionality value,
as assessed using the South Florida Water Management District's Unified
wetlands Mitigation Assessment Method, of 0.65 or greater that are preserved
on-site; and/or
e) 0.3 dwelling unit per acre for each acre of NBMO Sending Land that is within
either a NRPA or a buffer area adjoining a NRPA that is dedicated to a public or
private entity for conservation use.
(b) Sidewalks shall be required on both sides of the streets.
(c) Interconnected bike lanes shall be provided on all collector and arterial roadways.
(d) Schools shall be located within a NBMO rural village whenever possible, in order to
minimize bussing of students. Furthermore, whenever possible, schools shall be co -
located with other public facilities and civic structures, such as parks, libraries, community
centers, public squares, greens, and civic areas.
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(e) Elementary schools shall be accessible by local streets and pedestrian and bicycle
facilities and shall be located in or adjacent to the rural village center, provided that local
streets provide access adequate to meets the needs of the School Board.
b. Neutral lands. Neutral lands shall be governed by the standards set forth in section 2.03.08 (A)(3),
with the exception that, in those neutral lands located in Section 24, Township 49 South, Range 26
East, a minimum of 70% of the native vegetation present shall be preserved.
(Ord. No. 04-72, § 3.F; Ord. No. 05-27, § 3.E; Ord. No. 05-49, § 3.B; Ord. No. 07-67, § 3.E; Ord. No. 08-08,
§ 3.C; Ord. No. 12-38, § 3.C)
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1
Conservation Collier Land Acquisition Program
Project Design Report
Symphony Properties
Date: October 2024
Property Owners: Symphony Properties LLC
Folio(s): 00301320007, 00300880001, 00299120005, 00300800007, 00299800008,
00299440002, 00301800006, 00299480004, 00299680008, 00299560005, 00299920001
Location: Within the northeast corner of North Belle Meade, south of Frangipani
Ave., off 20th St. SE
Size: 150.0 acres
Purchase Price: $4,015,000
History of Project:
Purpose of Project: Environmental Conservation – Conservation Collier Program
Program Qualifications:
The Symphony Properties site met the Initial Screening Criteria identified in the Conservation
Collier Ordinance, No. 2007-65, as amended, including presence of native habitat, significant
human social values, protection of water resource values and wetland dependent species habitat,
presence of significant biological/ecological values, listed species habitat, and restoration
potential.
The site fulfills program qualifications by satisfying four of six applicable screening criteria. The
property can provide many recreational opportunities including hiking, biking, horseback riding,
and potentially hunting. These parcels contain pine flatwoods, palmetto prairie, and improved
pasture. The southernmost 40 acres of the site are within a 20-year wellfield protection zone.
Gopher tortoises and burrows were observed on site, and there is potential for use by sandhill
crane, Florida panther, and crested caracara. This area also contains historic nesting/foraging
habitat for the endangered red cockaded woodpecker (RCW). Although not directly adjacent to
protected land, undeveloped sending land exists between this property and a large block of private
conservation easements to the southwest. This property contributes to an important wildlife
corridor connecting species from the Florida Panther Refuge, Golden Gate Rural Estates, Dr.
Robert H. Gore III Preserve, as well as the Picayune Strand State Forest and Fakahatchee Strand
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
Purchase
offer made to
owner
Offer Accepted
7/14/2023 10/10/2023 4/2/2024 4/25/2024
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State Preserve to the south through wildlife underpasses under I-75. This site also provides an
ecological link to the northern range expansion goals of the RCW Recovery Plan.
Zoning, Growth Management and Land Use Overlays: All parcels have a base zoning of
Agricultural and are within the Rural Fringe Mixed Use District; the southern 110 acres are
designated Sending with a North Belle Meade Overlay, and the northern 40 acres are designated
Neutral.
Projected Management Activities: Management of this property will address the costs of exotic
vegetation removal and control and, potentially, management of native vegetation to maintain
suitable habitat for red cockaded woodpeckers. Controlled burning on a 3-4-year interval will be
used within this parcel to maintain the fire dependent plant communities. If it is deemed
compatible, limited public quota hunts may be implemented by the County to support wildlife
management goals and enhance stakeholder opportunities. The potential for use of the property as
a gopher tortoise recipient site will also be explored.
Estimated Management Costs:
Management
Element 2025 2026 2027 2028
2029
Invasive Vegetation
Treatment $45,000 $30,000 $22,500 $22,500 $22,500
Trail/Firebreak Maint. $2,500 $2,500 $2,500 $2,500 $2,500
Interpretive Signage $1,000 $0 $0 $0 $0
Cabbage palm
treatment $60,000 $0 $0 $0 $0
Total $108,500 $32,500 $25,000 $25,000 $25,000
Additional Acquisition Considerations: This property is adjacent to two undeveloped parcels
owned by the Collier County School Board. If acquired, it could provide natural resource-based
recreation and educational opportunities for students in the future.
A metal residential building, a metal storage building, two small wooden cabins, two chickee huts,
three covered shooting range shelters, two large shooting range berms, and a dilapidated barn exist
on the property. Staff recommends exploring the option of utilizing the metal residential building
and cabins as satellite offices and the metal storage building for storage of equipment. The chickee
huts and shelters could be used for public picnic areas. The dilapidated barn would be removed as
a condition of sale. A Phase 1 Environmental Site Assessment (ESA) determined that a Phase 2
ESA must be completed to indicate whether remediation of the shooting range berms is required.
The Phase 2 ESA would be completed during the pre-acquisition inspection period and, if required,
remediation would be completed as a condition of sale.
Cattle currently graze the property. Cattle will be removed if acquired.
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Symphony Properties Location Map
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Symphony Properties Aerial Map
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