Agenda 01/14/2025 Item #11F (Moved from Item #16A15 - (during Agenda Changes in the meeting) - Agreement for Sale and Purchase under the CCLA Program with Cypress Cove Landkeepers Inc., f/k/a Cypress Cove Conservancy, Inc)1/14/2025
Item # 16.A.15
ID# 2024-2255
Executive Summary
Recommendation to approve an Agreement for Sale and Purchase under the Conservation Collier Land Acquisition
Program with Cypress Cove Landkeepers Inc., f/k/a Cypress Cove Conservancy, Inc., for a 10.00-acre parcel at a cost of
$648,900, for a total cost not to exceed $653,570 inclusive of closing costs.
OBJECTIVE: To purchase a 10.00-acre parcel within the Conservation Collier Dr. Robert H. Gore III Preserve multi-
parcel project.
CONSIDERATIONS: On June 25, 2024, Agenda Item No. 16.A.13., the Board of County Commissioners (Board)
approved a Conservation Collier Land Acquisition Advisory Committee (CCLAAC) recommended Cycle 12B Active
Acquisition List (AAL) and directed staff to actively pursue acquisition of the properties under the Program. The
Cypress Cove Landkeepers parcel, within the Dr. Robert H. Gore III Preserve multi-parcel project was approved as an
A-list property on the Cycle 12B AAL.
Dr. Robert H. Gore III Preserve: Potential public uses at Gore Preserve include hiking, nature photography, bird
watching, and environmental education. Hydrologic indicators such as karst topography, cypress knees, and watermarks
on buttressed cypress trees provide evidence of seasonal flooding. The mature cypress trees in the preserve project
indicate that the area has historically contained wetlands. The properties are within a historic wetland area connecting
east with the Florida Panther National Wildlife Refuge (FPNWR) via the old Ford Test Track. The Gore Preserve and
surrounding lands enhance the FPNWR by acting as a buffer and providing a reasonably large-sized wild land addition
north of I-75. Wildlife underpasses at the adjacent Faka-Union and nearby Miller canals create an ecological link south
under I-75 to the Picayune Strand State Forest. A little over two miles to the west are the North Belle Meade Preserve
and the North Belle Meade sending lands. The Gore Preserve project is within the Florida Fish and Wildlife
Conservation Commission (FWC) Primary Panther habitat zone.
The project area contains protected species of plants, including giant sword fern, several listed bromeliads in
the Tillandsia genus, and five native orchid species. The project area contains Florida panthers, Florida black bears, and
numerous other wildlife. The observed habitat and location would also support the presence of Everglades mink,
tricolored heron, and little blue heron, all state-protected species.
In August 2024, staff contracted with two independent, state-certified general real estate appraisal firms to appraise the
Cypress Cove Landkeepers parcel. The average of the two appraisals was used to calculate the appraised value. The
appraisals cost $4,150.
Cypress Cove Landkeepers - Parcel 41501440005 on the north side of 40th Ave SE, west of Desoto Blvd S
1. 10.00-acres of land consisting of cypress and mixed wetland hardwoods with 60% hydric mapped soils.
2. Improvements on the parcel include a nature center, which will continue to be called “Gore Nature Center,” a
parking area, and trails.
3. Conservation Collier has committed to continuing to provide Collier County school field trips once the nature
center is brought up to code for commercial use.
4. A conditional use permit will be required to provide educational programs inside the nature center.
5. A building permit will be required to convert the nature center from residential to commercial use.
6. The attached Project Design Report includes information regarding property maintenance and educational
programming.
7. Building, pest, septic, and water inspections have been obtained. The seller has committed to fixing any items
identified in the reports (see attached documents).
8. Staff has coordinated with Collier County Facilities Management regarding ongoing maintenance needs and
converting the nature center for commercial use.
9. The existing parking lot will become a parking lot for the preserve in lieu of building a new parking lot.
10. The existing Memorandum of Understanding between the Cypress Cove Landkeepers and Collier County will
automatically be extinguished once Collier County owns the parcel.
Page 1720 of 6405
1/14/2025
Item # 16.A.15
ID# 2024-2255
11. An offer of $648,900 was made on September 18, 2024, and accepted on September 26, 2024. The purchase
price is 90% of the appraised value.
This acquisition is consistent with the Conservation Collier Purchasing Policy, Resolution No. 2023-10, which allows
offer amounts to be determined by staff but no more than the appraised value.
Pursuant to Ordinance 2024-17, Section 12(6), a Project Design Report (“PDR”) for 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 $653,570 as follows:
Seller Name Acres Appraised
Value
Purchase
Price
(Title
Commitment,
Title Policy,
Closing Fee,
Recording
Fees)
Total
Purchase
Price
CU and
Building
Permit
Initial 5 Yr
Maint
Costs
Long-
Term
Annual
Maint
Costs
Cypress Cove
Landkeepers
10.00 $721,000 $648,900 $4,670 $653,570 $50,000 $261,800 $9,100
As of January 14, 2025, the estimated property acquisition costs for Conservation Collier properties, including this
property and those under contract, total $128,364,781. The funds for managing this parcel will be expended from the
Conservation Collier Maintenance Fund (1062). The consulting costs and fees associated with obtaining a Conditional
Use Permit and Building Permit to allow for public use of the nature center are estimated at $50,000. 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 $261,800. After initial restoration, the estimated maintenance costs for this
parcel will be approximately $9,100 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.
4. To authorize the County Manager or designee to move forward with a Conditional Use petition after acquisition
of the property.
PREPARED BY: Melissa Hennig, Environmental Specialist I, Conservation Collier, Development Review Division
ATTACHMENTS:
1. Cypress Cove Landkeepers Agreement
Page 1721 of 6405
1/14/2025
Item # 16.A.15
ID# 2024-2255
2. Cypress Cove Conservancy appraisal Carroll & Carroll
3. Cypress Cove Conservancy appraisal RKL
4. Cypress Cove Conservancy-PDR-Gore
5. Inspection Report responses
6. Residential Inspection Report
7. Gore Nature Center Facilities Inspection 12-11-24
8. Septic inspection 2024
Page 1722 of 6405
CONSERVATION COLLIER
TAX rO NUMBER 4r501440005
AGREEMENT FOR SALE AND PURCHASE
THIS AGREEMENT is made and entered into by and between Cypress Cove
Landkeepers lnc. , llkal Cypress Cove Conservancy, lnc., a Florida not{orprofit
corporation, whose address is 4261 40'h Ave SE. Naples. FL 34117 (hereinafter referred
to as "Seller"), and COLLIER COUNTY, a political subdivision of the State of Florida, its
successors and assigns. whose address is 3335 Tamiami Trail East, Suite 101 , Naples,
FL 34112 (hereinafter referred to as "Purchaser")
WITNESSETH
WHEREAS. Seller is the owner of that certain parcel of real property (herernafter
referred to as "Property"), located in Collier County, State of Florida. and being more
particularly described in Exhibit "A", attached hereto and made a part hereof by
reference.
WHEREAS, Purchaser is desirous of purchasing the Property, subject to the conditions
and other agreements hereinafler set forth, and Seller is agreeable to such sale and to
such conditions and agreements.
NOW, THEREFORE, and for and in consideration of the premises and the respective
undertakings of the parties hereinafter set forth and the sum of Ten Dollars (S10.00), the
recerpt and sufficiency of which is hereby acknowledged, it is agreed as follows.
I. AGREEMENT
1.01 ln consideration of the purchase price and upon the lerms and conditions
hereinafter set forth, Seller shall sell to Purchaser and Purchaser shall purchase
from Seller the Property, described in Exhibit "A".
II, PAYMENT OF PURCHASE PRICE
2.01 The purchase price (the "Purchase Price") for the Property shall be Six
Hundred Forty Eight Thousand Nine Hundred Dollars and 00/100 dollars
($648,900.00), (U.S. Currency) payable at time of closing.
3 01 The Closing (THE "CLOSING DATE". "DATE OF CLOSING". OR "CLOSING") of
the transaction shall be held on or before one hundred and eighty (180) days
following execution of this Agreement by the Purchaser, or within thirty (30) days of
Purchasers receipt of all closing documents, whichever is later. The Closing shall
CC Agreement 06/1 0/2024 Page 1 of 15
III, CLOSING
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Page 1723 of 6405
CONSERVATION COLLIER
TAX ID NUMBER { 1501440005
be held at the office of the insuring title company or by mail. The procedure to be
followed by the parties in connection with the Closing shall be as follows:
3.011 Seller shall convey a marketable title free of any liens. encumbrances,
exceptions, or qualifications. Marketable title shall be determined according to
applicable title standards adopted by the Florida Bar and in accordance with law
At the Closing, the Seller shall cause to be delivered to the Purchaser the items
specified herein and the following documents and instruments duly executed and
acknowledged, in recordable form:
(a) The lien for current taxes and assessments
(b) Such other easements. restrictions, or conditions of record
3.01'12 Combined Purchaser-Seller closing statement.
3.0113 A "Gap Tax Proration, Owner's Non-Foreign Affldavit", as required by
Section 1445 of the lnternal Revenue Code and as required by the title
insurance undeMriter to insure the "gap" and issue the policy contemplated
by the title insurance commitment.
3 0114 A W-9 Form, "Request for Taxpayer ldentification and Certification"
as required by the lnternal Revenue Servrce.
3 012 At the Closing, the Purchaser. or its assignee shall cause to be
delivered to the Seller the following
3.0122 Funds payable to the Seller representing the cash payment due at
Closing in accordance with Article lll hereof, shall be subject to adjustment for
prorations as hereinafter set forth.
P.ge 2 of 15 /
tcA
CC Agreernent 06/10/202a
3.0111 Wananty Deed in favor of Purchaser conveying title to the Property,
free and clear of all liens and encumbrances other than:
3.0'121 A negotiable rnstrument (County Warrant) in an amount equal to the
Purchase Price. No funds shall be disbursed to Seller until the Title
Company verifies that the state of the title to the Property has not changed
adversely since the date of the last endorsement to the commitment,
referenced in Section 4.011 thereto. and the Title Company is irrevocably
committed to pay the Purchase Price to Seller and to issue the Owner's title
policy to Purchaser in accordance with the commitment immediately afler the
recording ofthe deed.
Page 1724 of 6405
CONSERVATION COLLIER
TAX rO NUMSER 4r 501440005
3.02 Each party shall be responsible for payment of its own attorney's fees Seller.
at rts sole cost and expense, shall pay at Closing all documentary stamp taxes due
relating to the recording of the Warranty Deed, in accordance with Chapter 201.01,
Florida Statutes, and the cost and electronic fee of recording any instrumenls
necessary to clear Seller's title to the Property. The cost of the Owner's Form B
Title Policy, issued pursuant to the Commitment provided for in Section 4.011
below, shall be paid by Purchaser. The cost of the title commitment shall also be
paid by Purchaser. lf required by a Phase I report and desired by Purchaser,
Seller shall pay lot a Phase ll Environmental Assessment selected by Purchaser.
3 03 Purchaser shall pay for the cost of recording the Warranty Deed. Real
Property taxes shall be prorated based on the current year's tax with due
allowance made for maximum allowable discount, homestead and any other
applicable exemptions and paid by Seller lf Closing occurs at a date which the
current year's millage is not fixed, taxes will be prorated based upon such prior
year's millage.
3 04 Upon the Closing, the existing Memorandum of Understanding (MOU) dated
December 8, 2020, between the Purchase and Seller, shall automatically
terminate. The Parties agree that lhe purpose of the MOU, which was to
coordinate lhe use of the properties surrounding the Nature Center for
conservation activities, will be fulfilled upon the County's acquisition of the Nature
Center property. Therefore, as of Closing, the MOU shall automatically terminate,
and neither Party shall have any further rights, obligations, or liabilrties under the
MOU,
3 05 Upon the Closing, the property shall continue to be named the Gore Nature
Center in perpetuity.
3 06 Upon the Closing, the gate adjacent to the office will be replaced with fixed
railing by the Seller. at Seller's sole cost and expense.
3.07 At Closing, the personal property listed within Exhibit "8" shall be conveyed to
the Buyer at no additional cost or value.
IV RE UIREMENTS AND CONDITI NS
4.01 Upon execution of this Agreement by both parties or at such other time as
specified within this A(icle, Purchaser and/or Seller, as the case may be, shall
perform the following within the times stated, which shall be conditions precedent
to the Closing:
{ ceo 1
CC Agreement 06/10/2024 Page 3 ol '15
Page 1725 of 6405
CONSERVAlION COLLIER
TAX ID NUMBER 4I50144OOO5
4.011 Within fifteen (15) days after the date hereof. Purchaser shall obtain as
evidence of title an ALTA Commitment for an Owner's Title Insurance Policy
(ALTA Form B-1970) covering the Property. together with hard copies of all
exceptions shown thereon. Purchaser shall have thirty (30) days, following
receipt of the title insurance commitment. to notify Seller in writing of any
ob,lection to title other than liens evidencing monetary obligations. if any, which
obligatioFs shall be paid at closing lf the title commitment contains exceptions
that make the title unmarketable. Purchaser shall deliver to the Seller written
notice of its intention to waive the applicable contingencies or to lerminate this
Agreement.
4 013 Seller agrees to furnish any existing surveys of the Property in Seller's
possession to Purchaser within ten (10) days of the effective date of this
Agreement. Purchaser shall have the option. at its own expense, to obtain a
current survey of the Property prepared by a surveyor licensed by the State of
Florrda. No adjustments to the Purchase Price shall be made based upon any
change to the total acreage referenced in Exhibit "A," unless the difference in
acreage revealed by survey exceeds 5% of the overall acreage. lf the survey
provided by Seller or obtained by Purchaser, as certified by a registered
Florida surveyor, shows: (a) an encroachment onto the property: or (b) that an
rmprovement located on the Property projects onto lands of others. or (c) lack
of legal access to a public roadway. the Purchaser shall notify the Seller in
writing of such encroachment, prolection. or lack of legal access, and Seller
shall have the option of curing said encroachment or projection, or obtaining
legal access to the Property from a public roadway, within sixty (60) days of
receipt of said written notice from Purchaser. Purchaser shall have ninety (90)
days from the effective date of this Agreement to notify Seller of any such
obJections. Should Seller elect not to or be unable to remove the
encroachment, projection, or provide legal access to the property within said
Page { of 15
4.012 ll Purchaser shall fail to advise the Seller in writing of any such
objections in Seller's title in the manner herein required by this Agreement, the
title shall be deemed acceptable Upon notification of Purchaser's objection to
title, Seller shall have thirty (30) days to remedy any defects to convey good
and marketable title at Seller's expense. except for liens or monetary
obligations which will be salisfied at Closing. Seller, at its sole expense, shall
use its best efforts to make such title good and marketable. ln the event Seller
is unable to cure said objections within said time period, Purchaser, by
providing writlen notice to Seller within seven (7) days after expiration of said
thirty (30) day period, may accept title as it then is, waiving any objection; or
Purchaser may terminate the Agreement. A failure by Purchaser to give such
written notice of termination within the time period provided herein shall be
deemed an election by Purchaser to accept the exceptions to tille as shown in
the title commitment.
CC Agreement 06/10/2024
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Page 1726 of 6405
sixty (60) day period, Purchaser, by providing written notice to Seller within
seven (7) days afier expiration of said sixty (60) day period, may accept the
Property as it then is. waiving any objection to the encroachment, or prolection,
or lack of legal access, or Purchaser may terminate the Agreement. A failure
by Purchaser to give such written notice of termination within the time period
provided herein shall be deemed an election by Purchaser to accept the
Property with lhe encroachment. or projection, or lack of legal access.
1. There are no abnormal drainage or environmental requirements to the
developed real property
2. The Property can be utilized for its intended use and purpose in the
Conservation Collier program.
3. Subject to acceptable lnspection(s) including; Pest / Termite. Septic. and a
general structural inspectron including the Roof, Electrical (including A/C), and
general soundness of the structure(s).
5.02 lf Purchaser is not satisfied. for any reason whatsoever, with the results of
any investigation. Purchaser shall deliver to Seller prior to the expiration of the
lnspection Period, written notice of its intention to watve the applicable
contingencies or to terminate this Agreement. lf Purchaser fails to notify the Seller
rn wriling of its specific objections as provided herein within the lnspection Period,
it shall be deemed that the Purchaser is satisfied with the results of its
investigations and the contingencies of this Article V shall be deemed waived. ln
the event Purchaser elects to terminate this Agreement because of the right of
inspection, Purchaser shall deliver to Seller copies of all inspection reports
including: Pest / Termite, Septic, and a general structural inspection.
5.03 Purchaser and its agents, employees and servants shall, at their own risk and
expense, have the right to go upon the Property for the purpose of surveying and
conducting site analyses. soil borings and all other necessary investigation.
Purchaser shall, in performing such tests, use due care. Seller shall be notified by
Purchaser no less than twenty-four (24) hours prior to said inspection of the
Property
6.01 Seller acknowledges that the Purchaser, or its authorized agents, shall have
the right to inspect the Property at any time prior to the Closing.
CC Agreement 05/10/2024 Page 5 ot l5
CONSERVATION COLLIER
TAX lO NUt\rBER 41501440005
V INSPECTION PERIOD
5.01 Purchaser shall have one hundred twenty ('120) days from the date of this
Agreement, ("lnspection Period"), to determine through appropriate investigation
that
VI, INSPECTION
ro
Page 1727 of 6405
CONSERVATION COLLIER
TAX ID NUMBER 4I50144OOO5
7.01 Purchaser shall be entitled to full possession of the Property at Closing
VIII. PRORATIONS
8.01 Ad valorem taxes next due and payable. after closing on the Property, shall
be prorated at Closing based upon the gross amount of current year taxes, and
shall be paid by Seller.
9.01 lf Seller shall have failed to perform any of the covenants and/or agreements
contained herein which are to be performed by Seller, within ten (1 0) days of
written notification of such failure, Purchaser may, at its option, terminate this
Agreement by giving written notice of termination to Seller. Purchaser shall have
the right to seek and enforce all rights and remedies available at law or in equity to
a contract vendee, including the right to seek specific performance of this
Agreement.
9.02 Seller agrees to fix, repair, replace any and all deficiencies found
unsatisfactory from any inspection reports obtained within section 5.01. lf Seller
fails to complete any such repairs, Purchaser may terminate this Agreement
without penalty.
9.03 The parties acknowledge that the remedies described herein and in the
other provisions of this Agreement provide mutually satisfactory and sufficient
remedies to each of the parties and take into account the peculiar risks and
expenses of each of the parties.
X,S ELLER'S AND PURCHASER'S REPRESENTATIONS ND WARRANTIES
10.01 Seller and Purchaser represent and warrant the followrng
10.011 Seller and Purchaser have full right and authority to enter into and to
execute this Agreement and to undertake all actions and to perform all tasks
required of each hereunder. Seller is not presently the subject of a pending,
threatened or contemplated bankruptcy proceeding. Seller further represents
the Property is free from any and all occupants, tenants, and other persons or
entities claiming possession of the Property at the time of closing. This
provision shall survive closing.
CC Agreement 06/10i2024 Page 6 ol '15
VII, POSSESSION
IX. TERMINATION AND REMEDIES
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Page 1728 of 6405
CONSERVATION COLLIER
rAx rD NUMAER 41501440005
10.012 Seller has full right, power, and authority to own and operate the
Property, and to execule, deliver, and perform its obligations under this
Agreement and the instruments executed in connection herewith, and to
consummate the transaction contemplated hereby. All necessary
authorizations and approvals have been obtained authorizing Seller and
Purchaser to execute and consummate the transaction contemplated hereby.
At Closing, certified copies of such approvals shall be delivered to Purchaser
and/or Seller, if necessary.
10.013 The warranties set forth in this paragraph shall be true on the date of
this Agreement and as of the date of Closing. Purchaser's acceptance of a
deed to the said Property shall not be deemed to be full performance and
discharge of every agreemenl and obligation on the part of the Seller to be
performed pursuant to the provisions of this Agreement.
10.014 Seller represents that it has no knowledge of any actions. suits. claims,
proceedings, litigation or investigations pending or threalened against Seller. at
law. equity or in arbitration before or by any federal, state, municipal or other
governmental instrumentality that relate to this agreement or any other
property that could. if continued, adversely affect Seller's ability to sell the
Property to Purchaser according to the terms of this Agreement.
10.01 5 No party or person other than Purchaser has any right or option to
acquire the Property or any portion thereof.
10.017 Seller represents that they have (it has) no knowledge that there is or
ever has been incinerators, septrc tanks. or cesspools on the Property; all
waste, if any, is discharged into a public sanitary sewer system; Seller
represents that they have (it has) no knowledge that any pollutants are or have
been drscharged from the Property, directly or indirectly into any body of water.
Seller represents that to their knowledge the Property has not been used for
the production, handling. storage, transportation, manufacture. or disposal of
hazardous or toxic substances or wastes. as such terms are deflned in
applicable laws and regulations, or any other activity that would have toxic
results, and no such hazardous or toxic substances are currenlly used in
connection with the operation of the Property, and there is no proceeding or
CC Agreement 05/10i2024
10.016 Until the date fixed for Closing, so long as this Agreement remains in
force and effect, Seller shall not encumber or convey any portion of the
Properly or any rights therein, nor enter into any agreements granting any
person or entity any rights with respect to the Property or any part thereof,
without first obtaining the written consent of Purchaser to such conveyance.
encumbrance. or agreement which consent may be withheld by Purchaser for
any reason whatsoever.
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Page 1729 of 6405
CONSERVATION COLLIER
lAx ro NUMBER 4r501440005
inquiry by any authority with respect thereto. Seller represents that they have
(it has) no knowledge that there is ground water contamination on the Property
or potential of ground water contamination from neighboring properties. Seller
represents that they have (it has) no knowledge that there is or ever has been
any storage tanks for gasoline. or any other substances are or were located on
the Property at any time during or prior to Seller's ownership thereof. Seller
represents that they have (it has) no knowledge that any part of the Property
has ever been used as a sanitary landfill
10.018 Seller has no knowledge that the Property and Seller's operations
concerning the Property are in violation of any applicable Federal. State or
local statute, law or regulation. or of any notice from any governmental body
has been served upon Seller claiming any violation of any law. ordinance, code
or regulation or requiring or calling attention to the need for any work. repairs,
construction, alterations or installation on or in connection with the Property in
order to comply with any laws, ordinances. codes or regulation with which
Seller has not complied.
1 0.019 Seller has no knowledge of unrecorded leases. licenses or other
possessory interests, restrictions, easements, or rights of way (other than
existing zoning regulations) that restrict or affect the use of the Property, and
there are no maintenance. construction, advertising, management, leasing.
employment, service. or other contracts affecting the Property.
10.020 Seller has no knowledge that there are any surts. actions or arbrlration.
bond issuances or proposals therefor, proposals for public improvement
assessmenls. pay-back agreements. paving agreements. road expansion or
improvement agreements, utility moratoriums, use moratonums, improvement
moraloriums, administrative or other proceedings or governmental
investigations or requirements, formal or informal, existing or pending or
threatened which affects the Property or which adversely affects Seller's ability
to perform hereunder. nor is there any other charge or expense upon or related
to the Property which has not been disclosed to Purchaser in writing prior to
the effective date of this Agreement
10.021 Seller acknowledges and agrees that Purchaser is entering into this
Agreement based upon Seller's representations stated above and on the
understanding that Seller will not cause the zoning or physical condition of the
Property to change from its existing state on the effective date of this
Agreement up to and including the Date of Closing Therefore, Seller agrees
not to enter into any contracts or agreements pertaining to or affecting the
Properly and not to do any act or omit to perform any act which would change
the zoning or physical condition of the Property or the governmental
ordinances or laws governing same. Seller also agrees to notify Purchaser
CC Agreemenl 06/10/2024 Page 8 of 15
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Page 1730 of 6405
CONSERVATION COLLIER
TAX lO NUMBER:41501440005
promptly of any change in the facts contained in the foregoing representations
and of any notice or proposed change in the zoning, or any other action or
notice, that may be proposed or promulgated by any third parties or any
governmental authorities having jurisdiction of the development of the property
which may restrict or change any other condition of the Property.
10.022 Al the Closing, Seller shall deliver to Purchaser a statement
(hereinafter called the "Closing Representative Statement") reassertlng the
foregoing representations as of the Date of Closing, which provisions shall
survive the Closing.
'10.023 Seller represents, warrants and agrees to indemnify, reimburse, defend
and hold Purchaser harmless from any and all costs (including attorney's fees)
asserted against, imposed on or incurred by Purchaser, directly or indirectly,
pursuant to or in connection with the application of any federal, state, local or
common law relating to pollution or protection of the environment which shall
be in accordance with, but not limited to, the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980.42 U.S.C. Section 9601,
et seq., ("CERCLA" or "Superfund"), which was amended and upgraded by the
Superfund Amendment and Reauthorization Act of 1986 ("SARA"), including
any amendments or successor in function to these acts. This provision and
the rights of Purchaser, hereunder, shall survive Closing and are not deemed
satisfied by conveyance of title.
10.024 Any loss and/or damage to the Property between the date of this
Agreement and the date of Closing shall be Seller's sole risk and expense.
XI. NOTICES
1 1.01 Any notice, request, demand, instruction, or other communication to be
given to either party hereunder shall be in writing, sent by facsimile with
automated confirmation of receipt, or by registered, or certified mail, return receipt
requested, postage prepaid, addressed as follows:
lf to Purchaser:Summer Araque, Coordinator
Conservation Collier Program
Collier County Parks and Recreation Division
Public Services Department
Golden Gate Community Park
3300 Santa Barbara Blvd
Naples, Florida 34116
With a copy to Attn: Grant Cox
Collier County Real Property Management
CC Agreemenl 05/10/2024 Page I of 15 f";
Page 1731 of 6405
CONSERVATION COLLIER
TAX rD NUI,EER 41501440005
3335 Tamiami Trail East. Suite 102
Naples, Florida 34112
Telephone number 239-252-537 3
Fax number: 239-252-8876
lf to Seller Name. Cypress Cove Landkeepers. lnc
A Florida not for profil corporation
4261 40tt^ Ave SE
Naples. FL 34117
Telephone number: 518-365-7503
Fax number: N/A
'l 'l .02 The addressees and numbers for the purpose of this Article may be
changed by either party by giving written notice of such change to the other party
in the manner provided herein. For the purpose of changing such addresses or
addressees only. unless and until such written notice is received, the last
addressee and respective address stated herein shall be deemed to continue in
effect for all purposes.
XII. REAL ESTATE BROKERS
12.01 Any and all brokerage commissions or fees shall be the sole responsibility
of the Seller. Seller shall indemnify Purchaser and hold Purchaser harmless from
and against any claim or liability for commission or fees to any broker or any other
person or party claiming lo have been engaged by Seller as a real estate broker,
salesman or representative, in connection with this Agreement. Seller agrees to
pay any and all commissions or fees at closing pursuant to the terms of a separate
agreement, if any.
13.01 This Agreement may be executed in any manner of counterparts which
together shall constitute the agreement of the parties.
13.02 This Agreement and the terms and provisions hereof shall be effective as of
the date this Agreement is executed by both parties and shall inure to the benefit
of and be binding upon the parties hereto and their respective heirs, executors.
personal representatives, successors, successor trustee, and assrgnees
whenever the context so requires or admits.
13 03 Any amendment to this Agreement shall not bind any of the parties hereof
unless such amendment is in writing and executed and dated by Purchaser and
CC Agreement 06/10/2024
XIII MISCELLANEOUS
Page 10 of 15
I
Page 1732 of 6405
CONSERVATION COLLIER
TAX lO NUMBER 1415014{0005
Seller. Any amendment to this Agreement shall be binding upon Purchaser and
Seller as soon as it has been executed by both parties.
13.04 Captions and section headings contained in this Agreement are for
convenience and reference only; in no way do they define, describe, extend, or
limit the scope or intent of this Agreemenl or any provisions hereof.
13.05 All terms and words used in this Agreement, regardless of the number and
gender in which used, shall be deemed to include any other gender or number as
the context or the use thereof may require.
'13.06 No waiver of any provision of this Agreement shall be effective unless it is in
writing signed by the party agalnst whom it is asserted, and any waiver of any
provision of this Agreement shall be applicable only to the specific instance to
which it is related and shall not be deemed to be a continuing or future waiver as
to such provision or a waiver as to any other provision.
13.07 ll any date specified in this Agreement falls on a Saturday, Sunday, or legal
holiday. then the date to which such reference is made shall be extended to the
next succeeding business day.
13.08 Seller is aware of and understands that the "offer" to purchase represented
by this Agreement is subject to acceptance and approval by the Board of County
Commissioners of Collier County, Florida.
13 09 lf the Seller holds the Property in the form of a partnership. limited
partnership, corporation, trust, or any form of representative capacity whatsoever
for others, Seller shall make a written public disclosure, according to Chapter 286,
Florida Statutes, under oath, of the name and address of every person having a
beneficial interest in the Property before Property held in such capacity is
conveyed to Collier County. (lf the corporation is registered with the Federal
Securities Exchange Commission or registered pursuant to Chapter 517, Florida
Statutes, whose stock is for sale to the general public, it is hereby exempt from the
provisions of Chapter 286, Florida Statutes.)
13.10 This Agreement is governed and construed in accordance with the laws of
the State of Florida.
XIV. ENTIRE AGREEMENT
14.01 This Agreement and the exhibits attached hereto contain the entire
agreement between the parties, and no promise, representation, warranty, or
covenant not included in this Agreement, or any such referenced agreements has
been or is being relied upon by either party. No modification or amendment of this
CC Agreemenl 06/10/2024 Page 'l I ol '15
Page 1733 of 6405
CONSERVATION COLLIER
TAX rD NUMBER 41501440005
Agreement shall be of any force or effect unless made in writing and executed and
dated by both Purchaser and Seller. Time is of the essence of this Agreement.
XV. ACKNOWLEDGMENT OF POTENTIAL FUTURE USE
15.01 Any development rights or credits available on the Property are relinquished
by the Seller and conveyed to the Purchaser at closing as part of the sale of the
Property.
S'GNATURES APPEAR ON THE FOLLOWNG PAGES
CC Aq reemenl 06/10/2024 Page 12 of 15
Page 1734 of 6405
CONSERVATION COLLIER
TAX tD NUMBER 4150 t440005
lN WTNESS WHEREOF. the parties herelo have signed below
Dated ProjecUAcquisition Approved by BCC:_
AS TO PURCHASER:
ATTEST-
CRYSTAL K. KINZEL, CIerK of the
Circuit Court and Comptroller
By:
, Deputy Clerk CHRIS HALL. Chairman
REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY. FLORIDA
CC Agreemenl 06/10P024 Page 13 of 15 @
Page 1735 of 6405
CONSERVATION COILIER
TAX rO NUMBER 41501440005
AS TO SELLER:
DATED:)))o,
Cypress Cove Landkeepers, lnc. f/k/a Cypress Cove Conservancy. lnc..
A Florida not for profit corporation
By
Shane Duff. President. Drreclor
Approved as lo form and legality:
Sally oo"n*"*"rutxl'
:
CC Agreenenl 06/10/2024 Pagr r. ot rs /1
{cAo)t.
-'
Page 1736 of 6405
CONSERVATION COLLIER
TAX lO NUMBER 41501r!10@5
EXHIBIT "A''
PROPERTY IDENTIFICATION NUMBER: 41s01440005
All of Tract 1 5 and Tract 18, Unit 91 , GOLDEN GATE ESTATES, according to the plat
thereof. recorded in Plat Book 5, Page 30. Public Records of Collier County. Florida.
1O ACRES
CC Agreemer 06i 1012024 Page '15 ol ti
-(o
Page 1737 of 6405
APPRAISAL REPORT
FOR
THE CONSERVATION COLLIER
PROGRAM AND THE COLLIER
COUNTY BOARD OF COUNTY
COMMISSIONERS
SUBJECT PROPERTY:
CYPRESS COVE CONSERVANCY
4261 40TH AVENUE SE
NAPLES, FL 34117
AT THE REQUEST OF:
ROOSEVELT LEONARD, R/W-AC
REVIEW APPRAISER II
COLLIER COUNTY FACILITIES
MANAGEMENT/REAL PROPERTY
3335 TAMIAMI TRAIL E., STE. 102
NAPLES, FL 34112
ASSIGNMENT NO.:
6790-TS
APPRAISAL EFFECTIVE DATE:
AUGUST 2, 2024
DATE OF REPORT:
SEPTEMBER 6, 2024
Page 1738 of 6405
6790 Report Table of Contents
Carroll & Carroll
Table of Contents
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS ......................................................... 1
CONSERVATION FEATURES SUMMARY OVERVIEW ................................................................. 2
CERTIFICATION ..................................................................................................................................... 4
SCOPE OF WORK ................................................................................................................................... 6
ESTATE APPRAISED .............................................................................................................................. 7
DEFINITION OF MARKET VALUE ..................................................................................................... 8
ASSUMED EXPOSURE TIME ................................................................................................................ 8
AREA INFORMATION .......................................................................................................................... 9
MARKET AREA ..................................................................................................................................... 18
PROPERTY INFORMATION ............................................................................................................... 30
SITE DESCRIPTION .......................................................................................................................... 32
SUBJECT PHOTOGRAPHS .............................................................................................................. 39
ENVIRONMENTAL CONTAMINATION .................................................................................... 55
NATURAL RESOURCE CONCERNS ............................................................................................ 56
ZONING .............................................................................................................................................. 61
ASSESSMENT AND TAXES ............................................................................................................ 63
FLOOD ZONE DATA ....................................................................................................................... 64
TRANSACTIONAL HISTORY ........................................................................................................ 65
CURRENT STATUS ........................................................................................................................... 65
HIGHEST AND BEST USE ................................................................................................................... 66
CONSIDERATION OF APPROACHES ............................................................................................. 67
SALES COMPARISON APPROACH ................................................................................................. 68
IMPROVED COMPARABLE SALES MAP .................................................................................... 69
SALES ADJUSTMENT GRID ........................................................................................................... 73
INDICATION OF VALUE – SALES COMPARISON APPROACH ........................................... 78
FINAL INDICATION OF VALUE ...................................................................................................... 79
ADDENDA ............................................................................................................................................. 80
Page 1739 of 6405
6790 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
Cypress Cove Conservancy
4261 40th Avenue SE
Naples, FL 34117
Property Description
A good quality, wood frame stilt home constructed in 1988
containing 1,549 square feet of gross living area and
situated on 10.00 gross acres along the north side of 40th
Avenue SE in Naples, Florida.
Property Type Single-Family Residential
Owner of Record Cypress Cove Conservancy, Inc.
Property ID # 41501440005
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 August 2, 2024
Date of Report September 6, 2024
Date of Inspection August 2, 2024
Purpose of Appraisal Estimate market value “As Is”
Estate Appraised Fee Simple
Interest Appraised 100%
Estimated Market Value $722,000
GENERAL INFO
Appraiser
Timothy W. Sunyog, MAI
State-Certified General Appraiser RZ 3288
Scope of Work All applicable approaches to value were developed.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
None
HYPOTHETICAL CONDITIONS
None
Page 1740 of 6405
6790 Report Conservation Summary Overview
Carroll & Carroll 2
CONSERVATION FEATURES SUMMARY OVERVIEW
Project Name:
Cypress Cove Conservancy Appraisal Project
4261 40th Avenue SE, Naples, FL 34117
Folio Number & Owner(s) of Record:
41501440005
Cypress Cove Conservancy, Inc.
Zoning/Overlays:
E – Estates
Zoning Considerations for TDR’s, PHU, other endangered species:
N/A
Was the cost to mitigate wetlands or endangered species taken into consideration?
The property is covered in wetlands. Portions of the property could be mitigated in order to
construct single-family residences.
Scope of Proposed Mitigation:
N/A
Land Area:
10.00 gross acres
Access for the Parcel Taken Into Consideration:
Full-service access is provided from 40th Avenue NE.
Highest and Best Use:
As Though Vacant
The highest and best use is to develop the property with one to four single-family residences
which will require mitigation.
As Improved
The highest and best use is that the improvements continue to be utilized as a single-family
residence and the excess land be sold off and developed with single-family residences.
Date of Estimated Value:
August 2, 2024
Page 1741 of 6405
6790 Report Conservation Summary Overview
Carroll & Carroll 3
Estimated Value:
$722,000
Page 1742 of 6405
6790 Report Certification
Carroll & Carroll 4
CERTIFICATION
I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF:
I personally inspected the subject property and the comparable sales.
The statements of fact contained in this report are true and correct.
The reported analyses, opinions and conclusions are limited only by the reported
assumptions and limiting conditions and our personal, impartial and unbiased
professional analyses, opinions and conclusions.
I have no present or prospective interest in the property that is the subject of this report
and no personal interest with respect to the parties involved.
In the three years immediately prior to acceptance of this assignment I have not
performed any services regarding the subject property as appraisers, or in any other
capacity.
I have no bias with respect to the property that is the subject of this report or the parties
involved with this assignment.
My engagement in this assignment was not contingent upon developing or reporting
predetermined results.
My compensation for completing this assignment is not contingent upon the
development or reporting of a predetermined value or direction in value that favors the
cause of the client, the amount of the value opinion, the attainment of a stipulated result
or the occurrence of a subsequent event directly related to the intended use of this
appraisal.
My analyses, opinions and conclusions were developed, and this report was prepared,
in conformity with the Uniform Standards of Professional Appraisal Practice. I am also
subject to the Code of Ethics and Standards of Professional Practice of the Appraisal
Institute, which includes provisions for peer review.
The use of this report is subject to the requirements of the State of Florida relating to
review by the Florida Real Estate Appraisal Board and to the requirements of the
Appraisal Institute relating to review by its duly authorized representatives.
No one other than the undersigned prepared the analyses, opinions and conclusions
concerning real estate that are set forth in this report.
Page 1743 of 6405
6790 Report Certification
Carroll & Carroll 5
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 1744 of 6405
6790 Report Scope of Work
Carroll & Carroll 6
SCOPE OF WORK
All applicable approaches to value were developed and the value conclusion reflects all
known information about the subject property, market conditions, and available data.
The scope of work was:
• Inspected the subject property and the comparable sales.
• Reviewed aerial photographs, land use plans, the Land Development Code, the
Conservation Collier Initial Criteria Screening Report, Collier County Property Record
Card, 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 and improved comparable sales, listings, and pending sales.
• Developed the sales comparison approach.
• Estimated the market value of the fee simple estate.
• Prepared an appraisal report summarizing the appraisal assignment, the property
appraised, the application of the appraisal methodology, and the logical support for the
value conclusion.
Sources of market data included local and regional MLS systems, CoStar, LoopNet, public
records, and interviews with real estate brokers.
Page 1745 of 6405
6790 Report Estate Appraised
Carroll & Carroll 7
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 1746 of 6405
6790 Report Definition of Market Value
Carroll & Carroll 8
DEFINITION OF MARKET VALUE
In United States tax law, the definition of Fair Market Value is found in the United States
Supreme Court decision in the Cartwright case:
The fair market value is the price at which the property would change hands between a
willing buyer and a willing seller, neither being under any compulsion to buy or to sell
and both having reasonable knowledge of relevant facts.
United States v. Cartwright, 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S.
Tax Case. (CCH) ¶ 12,926 (1973) (quoting from U.S. Treasury regulations relating to Federal
estate taxes, at 26 C.F.R. sec. 20.2031-1(b)).
ASSUMED EXPOSURE TIME
The reasonable exposure time is assumed to have already occurred as of the appraisal
effective date. The assumed reasonable exposure time was between 6 and 9 months.
Page 1747 of 6405
6790 Report Area Analysis
Carroll & Carroll 9
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
Page 1748 of 6405
6790 Report Area Analysis
Carroll & Carroll 10
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.
Page 1749 of 6405
6790 Report Area Analysis
Carroll & Carroll 11
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.
Page 1750 of 6405
6790 Report Area Analysis
Carroll & Carroll 12
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
Page 1751 of 6405
6790 Report Area Analysis
Carroll & Carroll 13
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
Page 1752 of 6405
6790 Report Area Analysis
Carroll & Carroll 14
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.
Page 1753 of 6405
6790 Report Area Analysis
Carroll & Carroll 15
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
Page 1754 of 6405
6790 Report Area Analysis
Carroll & Carroll 16
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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SITE DESCRIPTION
Legal Description All of Tract 15 and 18, Unit 91, Golden Gate Estates,
according to the plat thereof, as recorded in Plat Book 5,
Page 30, Public Records of Collier County, Florida.
Property ID# 41501440005
Owner of Record Cypress Cove Conservancy, Inc.
Size I was not provided with a boundary survey and therefore
relied on the area from the Collier County Property
Appraiser and the plat map.
10.00 gross acres
Easements The subject is encumbered by a 30-foot-wide road right-of-
way easement along the southern boundary for 40th Avenue
SE. This is a perpetual, non-exclusive, road right-of way,
drainage, and utility easements which preclude most all
practical uses by the owner, but the areas within the
easements can be utilized for density calculations. Such
easements are typical of the area.
Shape Square
660’ x 660’
Frontage The subject fronts along the north side of 40th Avenue SE for
660 feet.
Access The subject is provided both physical and legal access from
40th Avenue SE. 40th Avenue SE is a 2-lane asphalt paved
road extending east and west from Desoto Boulevard.
Topography Based on my physical inspection, the property is generally
level and slightly below road grade.
Ground Cover The property is in its native state and has been selectively
cleared. I was provided with a Conservation Collier Initial
Criteria Screening Report dated August 3, 2022 (Revised
August 26, 2022, February 7, 2024, and March 6, 2024).
The report indicates that the land is covered in Cypress and
Cypress/Tupelo Mixed. The canopy consists of cypress,
cabbage palms, red maple, bay, slash pine, and laurel oak.
The property consists of a mix of soil types including Boca,
Riviera, Limestone, Substratum and Copeland Fine Sand,
Depressional, a small portion of Hallandale and Boca Fine
Sands, and Hallendale Fine Sand. The house and parking
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areas are constructed on a limestone base.
Overall, the ground cover can be described as a rockland
hammock.
Utilities Electricity, telephone and TV cable are available. The
property is currently serviced by well and septic.
Surrounding Land Uses The subject is located approximately 0.32 miles west of
Desoto Boulevard along the north side of 40th Avenue SE.
The subject is surrounded to the north, south, east, and
west by vacant land which is part of the Dr. Robert Gore III
Preserve and owned by Collier County. The Picayune
Strand State Preserve is only just across I-75 to the south,
but access is circuitous being cut off by I-75.
Demographics (2023) 2 mile 5 10
Population 680 5,762 79,317
Households 210 1,775 28,177
Median HH Income $79,276 $86,892 $74,528
Median Home Value $291,771 $303,155 $326,443
Site Improvements Site improvements include a metal automatic gate, wooden
boardwalk with railing that leads from the parking lot to
the single-family residence, a 2,225 square foot wooden
deck, gravel parking lots and paths, and average quality
landscaping. The site improvements are in average to good
condition.
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BUILDING DESCRIPTION
Overview The home was designed and built by Dr. Robert Gore III.
The home was constructed of native materials and designed
to create as little impact on the surrounding environment as
possible.
Property Type Residential – Single Family
Design Custom
Construction Class Class “D” – Wood Frame
ISO Class ISO 1 – Frame
Construction Quality Good
Building Area
(Source)
Total Living Area: 1,549 Square Feet
(Collier County Property Appraiser)
Stories 2
Beds/Baths 2 Bedroom / 2 Bathrooms
Year Built
Actual Age
Effective Age
1988
36 Years
25 Years
Foundation The entire structure is supported by 28, 10”×10” pressure
treated wooden posts, anchored to 36”×36”×12” deep
reinforced-concrete plinths poured above 6’ deep back-filled
gravel pads. This foundation design allows for ground
water to percolate through both laterally and vertically
without destroying the compaction required to support the
structure.
Exterior Walls Vertical-groove rough-sawn cedar boards.
Roof Wood trusses supporting a steep hip roof of plywood
decking finished with a metal roof cover including a cupola.
The roof cover was replaced in 2020. The roof is also
equipped with numerous skylights.
Windows Aluminum Frame (Impact Glass)
HVAC None
Garage None
Pool / Spa None
Appliances Range Oven / Microwave / Refrigerator / Dishwasher /
Washer & Dryer
Electrical Typical System & Fixtures (Standard 110/220-volt service)
Plumbing The home is designed with two bathrooms. The septic
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system is new and is adequate to accommodate an outdoor
bathroom facility.
Interior Finishes Most of the interior paneling is vertical-groove clear cypress
with pecky-cypress used to finish the study. The dining
room is the only room with drywall interior surfaces. The
ceilings are also un-insulated vertical groove cypress. The
floors throughout are Bruce Oak planking. The chimney and
hearth are faced with native Florida limestone over a
concrete block and firebrick structure. The kitchen and
bathrooms are finished with wooden cabinets and quartz
countertops. The bathrooms are finished with tile floors and
walls over a waterproofing membrane.
The overall quality of the interior finishes is considered
good.
Design The house is designed with a kitchen, primary bedroom
with full bath, a study with extra full bath, a small dining
room and a central living room with fireplace and covered
wrap around porches on all sides of the home. All the rooms
feed off of the modified dogtrot hallway entrance. This
design along with the cathedral ceilings and central cupola
allow for maximum ventilation, necessary since the house is
not air-conditioned.
Additional Features The home is designed with screened porches and wooden
decks surrounding the home.
Construction Quality Good
Condition Overall, the home has been well maintained and is in good
condition. The majority of the home has been
updated/renovated over the past 3 to 4 years. Below is a list
of the renovations provided by Shane Duff, President of
Gore Nature Center. Shane said that that they have spent
$300,000 to $350,000 on the renovations, which does not
include any management/GC costs.
• Septic System is brand new and engineered for 4
bathrooms to accommodate an outdoor ADA
bathroom facility (to be built)
• All cedar board and batten siding was
repaired/replaced as needed and restrained
• Roof is 4 years old
• Windows and doors are all 4 years old - Aluminum
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PGT Impact
• All outlets and switches have been replaced within
the last 3 years
• All interior and exterior lighting fixtures and fans
have been replaced within the last 3 years
• All toilets and sinks are less than 3 years old
• All plumbing is PVC and PEX - much of the work is
less than 6 years old
• Stiebel on-demand tankless hot water heater is less
than 1 year old
• Washer/Dryer, Dishwasher, Refrigerator, and Oven
are all brand new (2 years old and barely used)
Samsung
• All cabinets are brand new with quartz countertops -
both are low maintenance and durable for use as
community center
• Joe Water Softener and Iron Breaker are 4 years old or
less
• Well pump is 1.5 years old and pressure tank is 8
months old
• Decks have all been refreshed with all rotted boards
replaced including a few joists
• Aluminum screening framework replaced off the
classroom
• All hardwood floors have been refinished
• Shower off the office was completely remodeled and
Schluter waterproofing membrane was used on the
floor and walls - top quality installation
• The fireplace was completed repointed and inspected
to be in safe working condition as of 2021
Overall, the structure is in good condition.
Excess Land The single-family residence is located in the middle of the
site, however based on the position of the improvements
there is additional land on the east and west sides to create
legal lots with a minimum width of 150 feet. Based on my
estimations there is approximately 5.30 acres of excess land
that could be used to expand the existing improvements of
that could be sold off to a third party. The 5.30 acres consist
of a 2.27-acre parcel (150’x660’) located along the west side
of the property and a 3.03 acre parcel (200’x660’) located
along the east side of the property. A depiction of the excess
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land is included in the addendum of the report.
The site area associated with the single-family residence is
4.70 acres.
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FLOOR PLAN
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SUBJECT PHOTOGRAPHS
View to the west along 40th Avenue SE.
(Photo Taken August 2, 2024)
View to the east along 40th Avenue SE.
(Photo Taken August 2, 2024)
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View to the north from 40th Avenue SE.
(Photo Taken August 2, 2024)
View to the gravel parking lot.
(Photo Taken August 2, 2024)
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View of the front yard.
(Photo Taken August 2, 2024)
View to the northeast of the home.
(Photo Taken August 2, 2024)
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View of the south and west sides of the house.
(Photo Taken August 2, 2024)
View of the boardwalk.
(Photo Taken August 2, 2024)
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View along the east side of the house.
(Photo Taken August 2, 2024)
View along the south and east side of the house.
(Photo Taken August 2, 2024)
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View along the west side of the house.
(Photo Taken August 2, 2024)
View of the north side of the house.
(Photo Taken August 2, 2024)
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View of the foundation.
(Photo Taken August 2, 2024)
View of the foundation.
(Photo Taken August 2, 2024)
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View of the entry.
(Photo Taken August 2, 2024)
View of the primary bedroom.
(Photo Taken August 2, 2024)
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View of the primary bathroom.
(Photo Taken August 2, 2024)
View of the primary bathroom.
(Photo Taken August 2, 2024)
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View of the primary bathroom.
(Photo Taken August 2, 2024)
View of the living room.
(Photo Taken August 2, 2024)
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View of the fireplace.
(Photo Taken August 2, 2024)
View of the living room.
(Photo Taken August 2, 2024)
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View of the guest bedroom.
(Photo Taken August 2, 2024)
View of the guest bathroom.
(Photo Taken August 2, 2024)
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View of the dining room.
(Photo Taken August 2, 2024)
View of the kitchen.
(Photo Taken August 2, 2024)
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View of the laundry room.
(Photo Taken August 2, 2024)
View of the screened deck.
(Photo Taken August 2, 2024)
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View to east from the boardwalk.
(Photo Taken August 2, 2024)
View to the northeast from the boardwalk.
(Photo Taken August 2, 2024)
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View to the north from the northside of the house.
(Photo Taken August 2, 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 property is in its native state and has been
selectively cleared. I was provided with a
Conservation Collier Initial Criteria Screening
Report dated August 3, 2022 (Revised August 26,
2022, February 7, 2024, and March 6, 2024).
The report indicates that the land is covered in
Cypress and Cypress/Tupelo Mixed. The majority
of the property is wetlands.
The parcel is within the Dr. Robert Gore III Preserve
and as a result of regional connectivity, the Florida
panther, Florida black bear, wild turkey, white-
tailed deer, spotted skunk, bobcat, grey fox, red-
headed woodpeckers, and coyote are commonly
sighted on the wildlife cameras located throughout
the existing Gore Preserve lands. It is reasonable
that the subject parcel would provide similar
habitat for species observed on preserve lands.
All plant and animal communities are of interest
and concern. To a greater or lesser degree
depending on the species and the quality of habitat
they occupy, plants and animals inhabiting the
property will invoke some level of scrutiny and will
result in some cost during the permitting process.
Natural Resource Audits Available No
Impact on Value N/A
Disclaimer
Specialized natural resource audits were not in the
appraiser’s required scope of work, the appraiser is
not qualified to conduct such audits and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any extraordinary natural resource
concerns, or for the knowledge and expertise
required to discover them.
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FUTURE LAND USE
Ordinance or Plan Collier County Growth Management Plan (GMP)
Golden Gate Area Master Plan (GGAMP)
Future Land Use Designation Estates Designation
Purpose of Designation The Estates Land Use Designation encompasses
lands which are already subdivided into semi-rural
residential parcels (2.25 acres as an average)
essentially consisting of the Golden Gate Estates
Subdivision. The area is identified as having
potential for population growth far removed from
supportive services and facilities. Expansion of the
area shall be discouraged. Refer to the Golden Gate
Area Master Plan for siting criteria and development
standards for specific land uses.
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ZONING
Ordinance or Land Development
Code
Collier County
Zoning E – Estates
Purpose or Intent of Zoning The purpose and intent of the Estates district is to
provide lands for low density residential development
in a semi-rural to rural environment. In addition,
several conditional uses including churches, social and
fraternal organizations, childcare centers, private
schools, and group care facilities are available under
conditional use provisions. Permitted uses include
single-family dwellings and Family Care Facilities,
and public schools. Conditional uses permissible in
the Estates district include churches and other places
of worship, social and fraternal organizations, child
and adult care centers, schools and group care
facilities. These conditional uses are strictly regulated.
Below are the development requirements as set forth
in the Estate Zoning District:
Minimum Lot Area: 98,010 square feet or
2.25 acres
Minimum Lot Width: 150 feet
Minimum Front Yard Setback: 75 feet minimum
Minimum Side Yard Setback: 30 feet
Minimum Rear Yard Setback: 75 feet
Maximum Building Height: 30 feet
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 41501440005
Assessment and Tax Year Preliminary 2024
Land Assessment $140,000
Improvement Assessment $207,050
Combined Total Assessment $347,050
10% CAP ($0)
AG Exemption ($0)
Taxable Value $0
Ad Valorem Taxes $0
Non- Ad Valorem Taxes $249.29
Total Taxes $249.29
Taxing Authority/Jurisdiction Collier County
As of the appraisal effective date the 2023 taxes have been paid.
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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 12021C0445H
Revised May 16, 2012
Source National Flood Insurance Program
Flood Insurance Rate Maps
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TRANSACTIONAL HISTORY
Sales History There have been no transactions or transfers
of ownership in the previous three years.
CURRENT STATUS
Subject Listed for Sale/Under Contract To my knowledge, the subject is not currently
listed for sale or under contract.
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HIGHEST AND BEST USE
DEFINITION
The Dictionary of Real Estate Appraisal, 7th Edition, published 2022 by the Appraisal
Institute, defines Highest and Best Use as:
The reasonably probable use of property that results in the highest value. The four criteria that the
highest and best use must meet are legal permissibility, physical possibility, financial feasibility,
and maximum productivity.
METHOD
There are four criteria that must be met in order for a use to be the highest and best use for a
given property. The highest and best use must be:
• Legally permissible.
• Physically Possible.
• Financially feasible.
• Maximally productive.
Ordinarily these criteria are considered sequentially, each step narrowing the range of
alternative uses being considered.
ANALYSIS
SITE AS THOUGH VACANT
Legally Permissible: The property is zoned E – Estates with a Future Land Use of Estates.
The zoning ordinance and Growth Management Plan are consistent in identifying the
property for residential uses. The site consists of one oversized parcel that could be
developed with up to four single-family residences.
Physically Possible: The interior location off of Everglades Boulevard and the size of the
property suggests some type of single-family use. The parcel is level and at road grade and
could be developed as one or as many as four single-family home sites. The majority of the
property is designated wetlands and therefore portions of the site will need to be mitigated
in order to be developed.
Financially Feasible: The financial feasibility of single-family residential development is
good. The single-family residential market continues to be strong, especially new
construction. Based on the number of new homes in the surrounding neighborhoods,
single-family residential development appears to be financially feasible, however portions
of the parcels will need to be mitigated due to the presence of wetlands on the site.
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Maximally Productive: The highest and best use is to develop the property with one to
four single-family residences which will require mitigation.
PROPERTY AS IMPROVED
Legally Permissible: The existing single-family use is consistent with the Growth
Management Plan and land development code. The excess land to the east and the west
could be developed with single-family residences or accessory structures associated with
the existing single-family residence.
Physically Possible: The existing single-family residence is an underimprovement of the
site. Based on the position of the home on the site, the additional excess land to the east and
west could be developed with two single-family residences or accessory structures
associated with the existing single-family residence.
Financially Feasible: The single-family residential market continues to be strong, especially
new construction and single-family residential development is financially feasible.
However, the majority of the property is designated wetlands and therefore portions of the
site will need to be mitigated in order to be developed.
Maximally Productive: The highest and best use is that the improvements continue to be
utilized as a single-family residence and the excess land be sold off and developed with
single-family residences.
CONSIDERATION OF APPROACHES
Only the sales comparison approach is appropriate to estimate the value of the subject.
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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 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.
IMPROVED SALES DATA
A search was made for sales of improved comparable to the subject. Five closed sales were
identified as the best available for analysis. The property record cards and warranty deeds
of the comparables are included in the addendum of the report. The comparable sales do
not include 5.30-acres of excess land. The contribution value of the excess land will be
addressed at the end of the sales comparison approach.
The sales are analyzed on the basis of whole or total dollars. Each comparable is identified
on the location map immediately following this page.
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IMPROVED COMPARABLE SALES MAP
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Comparable 1
Comparable 2
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Comparable 3
Comparable 4
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Comparable 5
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SALES ADJUSTMENT GRID
ITEM SUBJECT COMP #1 COMP #2 COMP #3 COMP #4 COMP #5
PROPERTY IDENTIFICATION 4261 40th 661 12th Ave.3461 19th 440 Golden 3561 8th 1810 Washburn
Ave. SE NE Avenue SW Gate Blvd W Avenue NE Avenue
SALE PRICE N/A $525,000 $500,000 $450,000 $552,000 $475,000
REAL PROPERTY RIGHTS Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
CONVEYED 0 0 0 0 0
FINANCING/CONCESSIONS Cash or FHA Conventional VA Cash to seller Conventional
Equivalent $0 $0 $0 $0 $0
CONDITIONS OF SALE Market Market Market Market Market Market
0 0 0 0 0
EXPENDITURES AFTER SALE N/A None None None None None
0 0 0 0 0
ADJUSTED SALE PRICE N/A $525,000 $500,000 $450,000 $552,000 $475,000
Recording Date 08/02/24 03/20/24 12/07/23 02/28/23 01/04/24 04/27/23
Months Prior To Effective Date N/A 4.44 7.86 17.13 6.94 15.22
MARKET CHANGE ADJUSTMENT N/A 0.00%0.00%0.00%0.00%0.00%
ADJUSTED SALE PRICE N/A $525,000 $500,000 $450,000 $552,000 $475,000
SITE DATA
Land Area (Gross Acres)4.70 1.14 1.14 2.08 5.30 5.00
BUILDING CHARACTERISTICS
Design 2-Story/Stilt 2-Story/Stilt 2-Story/Stilt 2-Story/Stilt 2-Story/Stilt 1-Story/A Frame
Quality/Type of Construction Good/Wood Avg/CBS-Wood Avg/Wood Avg/Wood Avg/Wood Avg/CBS-Wood
Size - Gross Living Area (Sq. Ft.)1,549 1,327 1,008 1,232 1,260 1,016
Year Built 1988 1995 1984 1983 1997 1981
Actual Age 36 Years 29 40 41 27 43
Estimated Effective Age 25 Years 25 30 35 27 35
Condition Good Good Good Average Average Average
Bedrooms/Bathrooms 2/2 3/2 3/1 2/1 3/2 3/2
Finished Ground Floor No Yes No No Yes No
Functional Utility/Layout Average Similar Similar Similar Similar Similar
Interior Finishes Good Inferior Inferior Inferior Inferior Inferior
Air Conditioning None Yes Yes Yes Yes Yes
Garage/Carport None 1-Car Attached None None 2-Car Attached None
Porch/Patio/Deck Porch & Deck Similar Similar Similar Similar Inferior
Swimming Pool No No No No No No
Paved Driveway No Yes No Yes No No
Extras/Site Improvements Various Similar Similar Similar Similar Similar
ADJUSTED SALE PRICE ?$525,000 $500,000 $450,000 $552,000 $475,000
LOCATION Average Similar Similar Similar Similar Similar
LAND AREA 4.70 Acres ($50,000)($100,000)
BUILDING CHARACTERISTICS
Design 2-Story/Stilt
Quality of Construction V. Good/Wood $52,500 $50,000 $45,000 $55,200 $47,500
Size - Gross Living Area (Sq. Ft.)1,549 $24,420 $59,510 $34,870 $31,790 $58,630
Year Built 1988
Actual Age 36 Years
Estimated Effective Age 25 Years $12,500 $22,500 $5,520 $23,750
Condition Good
Bedrooms/Bathrooms 2/2 $5,000 $5,000
Finished Ground Floor No ($15,000)($15,000)
Functional Utility/Layout Average
Interior Finishes Good $52,500 $50,000 $90,000 $110,400 $95,000
Air Conditioning None ($30,000)($30,000)($30,000)($30,000)($30,000)
Garage/Carport None ($10,000)($10,000)
Porch/Patio/Deck Porch & Deck $5,000
Swimming Pool No
Paved Driveway No ($10,000)($10,000)
Extras/Site Improvements Various
NET ADJUSTMENT N/A $64,420 $147,010 $107,370 $47,910 $199,880
NET ADJUSTMENT %N/A 12.27%29.40%23.86%8.68%42.08%
INDICATION OF VALUE ?$589,420 $647,010 $557,370 $599,910 $674,880
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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.
The second group of adjustments is made after an appropriate unit of comparison is chosen.
When the adjustment process is complete, the unit value indications are reconciled and
converted into an estimate of value for the subject.
REAL PROPERTY RIGHTS CONVEYED
This adjustment category is intended to account for the interest, benefits, and rights
inherent in the ownership of real estate. This category reflects the impact on value caused
by the fee simple versus the leased fee interest or the contract rent as opposed to market
rent.
• None of the comparable sales required adjustment in this category.
FINANCING/CONCESSIONS
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.
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.
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EXPENDITURES AFTER SALE
This adjustment category accounts for any expenditure made immediately following
purchase. The buyer and seller must have been aware at the time of purchase that the
expenditures would be necessary. If aware of any such planned purchase, the buyer will
account for the required expense in the negotiation process.
• None of the comparable sales required adjustment in this category.
MARKET CHANGE
This adjustment is intended to account for changes in value due to the ebb and flow of
market forces over time.
• The comparables occurred between February 2023 and March 2024, which market
conditions continue to improve. The single-family home sales from the prior 12
months within the market boundaries of Randall Boulevard to the north, Desoto
Boulevard to the east, Interstate 75 to the south, and Wilson Boulevard to the west,
were plotted on a graph by median sale price. The median sale price in October 2023
was $575,000 and the median sale price in September 2024 was $598,900 indicating an
increase of 4.16% or 0.35% per month.
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Comparable 1 sold June 16, 2023 for $369,900 and resold March 20, 2024 for $525,000
indicating a total increase of 41.9% or 4.66% per month. The home was completely
renovated after the original sale and therefore this is not a good indicator of market
change.
Based on the most recent sale prices, pending sales, and listing prices, the subject’s
market area appears to be stable. Based on the age of the comparables sales, no
market change adjustment was required.
LOCATION/VIEW
This category of adjustment reflects the impact on value caused by the advantages or
disadvantages of a given location or view.
• None of the comparable sales required adjustment in this category.
LAND AREA
• The land area adjustment was based on the subject’s underlying land value as
compared to the Comparable sales. Comparables 3 and 4 required downward
adjustment to account for their higher underlying land values. The adjustments are
based on the subject’s 4.70-acre associated parcel and the contribution value of the 5.30
acres of excess land will be addressed at the end of the sales comparison approach.
BUILDING CHARACTERISTICS
This is a composite comparison which reflects physical differences between the
improvements on the subject property and the improvements on each of the comparable
properties.
• The subject property does not have air conditioning and all five comparables do. The
property could be equipped with a central air conditioning system, which would
require adding duct work through the home or through the floors. The other option is
to add mini-split systems to each room. Based on conversations with general
contractors, the estimated cost of each option is approximately $30,000 and therefore
each comparable was adjusted downward $30,000 for their superior feature.
• Comparable 1 is an inferior quality home that was recently renovated. It required
adjustments for its inferior construction quality, smaller size, finished ground floor,
inferior interior finishes, air conditioning, superior garage, and superior paved
driveway.
• Comparable 2 is a sale of an inferior quality home, however it had been recently
remodeled and included a new roof. Comparable 2 required adjustments for its inferior
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construction quality, smaller size, age, inferior number of bathrooms, inferior interior
finishes, and air conditioning.
• Comparable 3 is an older sale of an inferior quality home. Comparable 3 required
adjustments for its inferior construction quality, smaller size, age, inferior number of
bathrooms, inferior interior finishes, air conditioning, and superior paved driveway.
• Comparable 4 is a recent sale of an inferior quality home. Comparable 4 required
adjustments for its inferior construction quality, smaller size, age, finished ground floor,
inferior interior finishes, air conditioning, and superior 2-car garage.
• Comparable 5 is an older sale of an inferior quality home. Comparable 5 required
adjustments for its inferior construction quality, smaller size, age, inferior interior
finishes, air conditioning, and inferior porch/deck.
RECAPITULATION OF DATA
After making the adjustments discussed above, the comparable sales indicated the
following unit values:
Comparables Adjusted Sale Price
(Indicated for Subject)
1 $589,420
2 $647,010
3 $557,370
4 $599,910
5 $674,880
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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 1 is the strongest indicator of value. It is the most recent sale which increases
its strength as an indicator of value and its interior finishes/condition is most similar to the
subject Comparable 1 was weighted 30%.
Comparables 2, 3, and 4 are good indicators of value, but all required adjustments and were
weighted 20% each.
Comparable 5 is an older sale that required various adjustments. It is also a high indicator of
value and was weighted 10%.
The range of value indications is from $557,370 to $674,880. The arithmetic mean of the five
sales is $613,718 and the median is $599,910. The weighting process discussed above
indicates a value of $605,172. The average of the four best sales is $598,428.
Based on the range of sales, I concluded to a value of $600,000.
INDICATION OF VALUE – SALES COMPARISON APPROACH
The indication of value by the sales comparison approach as of August 2, 2024 is $600,000.
This reflects the market value of the single-family residence and the associated 4.70-acre
site. This value does not reflect the contribution value of the 5.30 acres (2.27 acre and 3.03
acre) of excess land.
In order to determine the contribution value of the excess land, I analyzed six closed sales.
The sales grid is included in the addendum of the report. The land sales were adjusted for
market change at 0.50% per month or 6.00% annually and Comparables 2, 3, 4, and 6 were
adjusted for their inferior location due to the lack of a paved road. After adjustments, the
comparables indicate a range of $15,408 to $25,958 per acre. The average of the six sales is
$21,858 per acre and the median is $22,376 per acre.
Based on the range of sales, I concluded to a unit value of $23,000 per acre or a total value of
$121,900 (5.30 acres x $23,000 per acre) which rounds to $122,000.
The final indication of value is:
Improved Portion Indication of Value $600,000
Plus: Contribution of Excess Land 122,000
Final Indication of Value $722,000
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FINAL INDICATION OF VALUE
The estimated market value of the subject property as of August 2, 2024 is $722,000.
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/Zoning..................................................................................................... 8
Property Card........................................................................................................................ 2
Excess Land Map................................................................................................................... 1
Comparable Sales and Deeds.............................................................................................. 10
Land Sales Map & Grid........................................................................................................ 2
Qualifications of Appraiser................................................................................................. 2
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ASSUMPTIONS AND LIMITING CONDITIONS
The certification of the appraiser appearing in this report is subject to the following
assumptions and limiting conditions.
ACCEPTANCE OF AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES
ACCEPTANCE OF ALL GENERAL AND EXTRAORDINARY ASSUMPTIONS AND
LIMITING CONDITIONS.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
None
HYPOTHETICAL CONDITIONS
None
GENERAL ASSUMPTIONS AND LIMITING CONDITIONS
1. No responsibility is assumed for the legal description or for matters including legal or title
considerations. Title to the property is assumed to be good and marketable.
2. The property is appraised free and clear of liens and encumbrances.
3. Responsible ownership and competent property management are assumed.
4. The information furnished by others is assumed to be true, correct and reliable. A
reasonable effort was made to verify such information, but the appraiser bears no
responsibility for its accuracy.
5. All engineering is assumed to be correct. The plot plans and illustrative material is
included only to assist the reader in visualizing the property.
6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or
structures that render it more or less valuable. No responsibility is assumed for such
conditions or for arranging for engineering studies that might be required to discover
them.
7. It is assumed that there is full compliance with all applicable federal, state, and local
environmental regulations and laws.
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8. It is assumed that the property is either in compliance with, or is "grandfathered" or
"vested" under, all applicable zoning, use regulations and restrictions.
9. It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any local, state, or national government or
private entity or organization have been, or can be, obtained or renewed for any use on
which the value estimate is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries or
property lines of the property described, and that there is no encroachment or trespass.
11. It is assumed that the subject site and improvements are not contaminated by any
hazardous material or toxic substance. During the property inspection we were sensitive
to obvious signs of contamination, and we reported anything unusual. However, we are
not qualified to render professional opinions regarding the existence or the nature of
hazardous materials in or on the subject property. If a definitive opinion is desired, then
the client is urged to retain an expert in the field.
12. The distribution of the total value in this report, between land and improvements, applies
only under the stated program of utilization. The separate allocations for land and
buildings must not be used in conjunction with any other appraisal and are invalid if so
used.
13. Possession of this report, or a copy thereof, does not carry with it the right of publication.
14. Unless previous arrangements were made, the appraisers, by reason of this appraisal, are
not required to give further consultation, testimony, or to be in attendance in court.
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B. Estate District (E). The purpose and intent of the estates district (E) is to provide lands for low density
residential development in a semi-rural to rural environment, with limited agricultural activities. In addition to
low density residential development with limited agricultural activities, the E district is also designed to
accommodate as conditional uses, development that provides services for and is compatible with the low
density residential, semi-rural and rural character of the E district. The E district corresponds to and
implements the estates land use designation on the future land use map of the Collier County GMP,
although, in limited instances, it may occur outside of the estates land use designation. The maximum
density permissible in the E district shall be consistent with and not exceed the density permissible or
permitted under the estates district of the future land use element of the Collier County GMP as provided
under the Golden Gate Master Plan.
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 estates district (E).
a. Permitted uses.
1. Single-family dwelling.
2. Family care facilities, subject to section 5.05.04
3. Essential services, as set forth in section 2.01.03
4. Schools, public, including "Educational plants."
b. Accessory Uses.
1. Uses and structures that are accessory and incidental to uses permitted as of right in the (E)
district.
2. Fruits, vegetables, and nursery plants grown for both personal consumption and off -site retail
sale, such as farmer's markets. Farm operations that grow fruits, vegetables, and nursery
plants for off-site retail sale shall be subject to LDC section 5.02.00 Home Occupations, as
amended, and the following standards:
i. Farm operations shall not occupy more than 50 percent of the lot.
ii. Farm operations shall conform to minimum setbacks established in LDC sections 2.03.01
B.2 and 4.02.01 A. Table 2.1, however, no side, rear or front setbacks are required
greater than 30 feet.
iii. Vegetation removal for farm operations shall be subject to LDC section 3.05.05 F, as
amended.
3. Keeping of fowl or poultry, not to exceed 25 in total number, provided such fowl or poultry are
kept in an enclosure located a minimum of 30 feet from any lot line, and a minimum of 100
feet from any residence on an adjacent parcel of land.
4. Keeping of horses and livestock (except for hogs), not to exceed two such animals for each
acre, and with no open feedlots. Any roofed structure for the shelter and feeding of such
animals shall be a minimum of 30 feet from any lot line and a minimum of 100 feet from any
residence on an adjacent parcel of land.
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.
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5. One guesthouse, subject to section 5.03.03
6. 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 preliminary
subdivision plat 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.
7. Excavation and related processing and production subject to the following criteria:
i. These activities are incidental to the permitted used onsite.
ii. The amount of excavated material to be removed from the site cannot exceed 4,000
cubic yards total. Amounts in excess of 4,000 cubic yards shall require conditional use
approval for earth mining, pursuant to the procedures and conditions set forth in section
10.08.00
c. Conditional uses. For Estates zoning within the Golden Gate Estates subdivision, the Golden
Gate Area Master Plan in the GMP restricts the location of conditional uses. The following uses
are permissible as conditional uses in the estates district (E), subject to the standards and
procedures established in section 10.08.00
1. Churches.
2. Social and fraternal organizations.
3. Child care centers and adult day care centers.
4. Schools, private.
5. Group care facilities (category I); care units, subject to the provisions of subsection 2.03.01
B.3.f; 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.
6. Group care facilities (category II) care units subject to section 5.05.04 only when tenancy of
the person or persons under care would not:
i. Constitute a direct threat to the health or safety of other individuals;
ii. Result in substantial physical damage to the property of others; or
iii. Result in the housing of individuals who are engaged in the current, illegal use of or
addiction to a controlled substance, as defined in section 802 of title 21, U.S. Code.
7. Extraction or earthmining, and related processing and production not incidental to the
development of the property subject to the following criterion and subsection 4.02.02 C.
i. The site area shall not exceed 20 acres
8. Essential services, as set forth in subsection 2.01.03 G.
9. Model homes and model sales centers, subject to compliance with all other LDC
requirements, to include but not limited to section 5.04.04
10. Ancillary plants.
d. Prohibited uses.
1. Owning, maintaining or operating any facility or part thereof for the following purposes is
prohibited:
i. Fighting or baiting any animal by the owner of such facility or any other person or entity.
ii. Raising any animal or animals intended to be ultimately used or used for fighting or
baiting purposes.
iii. For purposes of this subsection, the term baiting is defined as set forth in F.S. §
828.122(2)(a), as it may be amended from time to time.
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2. Minimum yard Requirements. See subsection 4.02.01 A. Table 2.1 for the general requirements. The
following are exceptions to those requirements:
a. Conforming Corner lots. Conforming corner lots, in which only one full depth setback shall be
required along the shorter lot line along the street. The setback along the longer lot line may be
reduced to 37.5 feet, so long as no right-of-way or right-of-way easement is included within the
reduced front yard. (See Exhibit A)
b. Nonconforming Corner lots. Nonconforming corner lots of record, in which only one full depth
setback shall be required along the shorter lot line along the street. The setback along the longer
lot line may be reduced to 15 feet, so long as no right-of-way or right-of-way easement is included
within the reduced front yard. (See Exhibit B)
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c. Nonconforming through lots, i.e. double frontage lots, nonconforming lots of record with
double road frontage, which are nonconforming due to inadequate lot depth, in which case, the
front yard along the local road portion shall be computed at the rate of 15 percent of the depth of
the lot, as measured from edge of the right-of-way.
i. The nonconforming through lot utilizing the reduced frontage shall establish the lot
frontage along the local road only. Reduced frontage along a collector or arterial roadway to
serve such lots is prohibited. Front yards along the local road shall be developed with
structures having an average front yard with a variation of not more than six feet; no
building thereafter erected shall project beyond the average line so established.
d. Nonconforming lots of record, which are nonconforming due to inadequate lot width, in which
case the required side yard shall be computed at the rate of ten (10) percent of the width of the lot.
(Ord. No. 06-63, § 3.C; Ord. No. 07-67, § 3.C; Ord. No. 08-11, § 3.D; Ord. No. 08-63, § 3.C; Ord. No. 10-23,
§ 3.E; Ord. No. 12-38, § 3.B; Ord. No. 13-56, § 3.B; Ord. No. 14-40, § 2.A)
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EXCESS LAND
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LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES
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LAND SALES ADJUSTMENT GRID
ITEM SUBJECT COMP #1 COMP #2 COMP #3 COMP #4 COMP #5 COMP #6
PARCEL #41501440005 41504320009 41509120000 41500520007 41501120008 41503760000 41500560009
PROPERTY IDENTIFICATION 4261 40th 40th Avenue 40th Avenue 36th Avenue 36th Avenue 34th Avenue 36th Avenue
Ave. SE SE SE SE SE SE SE
SALE PRICE N/A $98,650 $53,000 $57,000 $62,790 $60,000 $70,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0 0
CONDITIONS OF SALE Market PENDING Market Market PENDING Market Market
0 0 0 0 0 0
BUILDING IMPROVEMENTS None None None None None None None
0 0 0 0 0 0
FINANCING Cash or Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller Conventional
Equivalent 0 0 0 0 0 0
ADJUSTED SALE PRICE N/A $98,650 $53,000 $57,000 $62,790 $60,000 $70,000
Recording Date N/A 08/02/24 01/29/24 01/02/24 08/02/24 01/03/24 07/30/24
Months Prior To Effective Date 08/02/24 0.00 6.11 7.00 0.00 6.97 0.10
MARKET CHANGE ADJUSTMENT N/A 0.0%3.1%3.5%0.0%3.5%0.0%
ADJUSTED SALE PRICE N/A $98,650 $54,620 $58,996 $62,790 $62,091 $70,035
Parcel Area in Gross Acres 10.00 5.00 2.73 2.50 2.73 2.73 5.00
PRICE PER ACRE ?$19,730 $20,007 $23,598 $23,000 $22,744 $14,007
LOCATION
ADDRESS 40th Ave. SE 40th Ave. SE 40th Ave. SE 36th Ave. SE 36th Ave. SE 34th Ave. SE 36th Ave. SE
CORNER LOT No No No No No No No
PAVED ROAD Yes Yes No No No Yes No
CANAL FRONTAGE No No No No No No No
OVERALL LOCATION Average Similar Inferior Inferior Inferior Similar Inferior
0%10%10%10%0%10%
UTILITIES Well & Septic Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
COMP. PLAN Estates Estates Estates Estates Estates Estates Estates
ZONING E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates
0%0%0%0%0%0%
SIZE IN ACRES 10.00 5.00 2.73 2.50 2.73 2.73 5.00
SHAPE/CONFIGURATION Square Similar Similar Similar Similar Similar Similar
0%0%0%0%0%0%
PHYSICAL CHARACTERISTICS Native Veg.Similar Similar Similar Similar Similar Similar
WETLANDS Yes Yes Yes Yes Yes Yes Yes
WETLANDS %100%100%100%100%N/A 100%100%
WETLANDS QUALITY N/A High N/A N/A N/A N/A Medium
0%0%0%0%0%0%
GROSS ADJUSTMENT N/A 0%10%10%10%0%10%
INDICATION OF UNIT VALUE ?$19,730 $22,008 $25,958 $25,300 $22,744 $15,408
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4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
REAL ESTATE APPRAISAL REPORT
CYPRESS COVE CONSERVANCY
Residential
4261 40th Avenue SE
Naples, Collier County, Florida, 34117
PREPARED FOR :
Mr. Roosevelt Leonard, R/W-AC
Supervisor – Real Property Management
Collier County
3335 Tamiami Trail East, Suite 101
Naples, FL 34112
EFFECTIVE DATE OF THE APPRAISAL:
August 2, 2024
DATE OF THE REPORT:
August 28, 2024
REPORT FORMAT:
Appraisal Report
PREPARED BY:
RKL Appraisal and Consulting, PLC
RKL File Number: 2024-175
Page 1847 of 6405
Cypress Cove Conservancy
4261 40th Avenue SE
Naples, Florida
Page 1848 of 6405
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
August 28, 2024
Mr. Roosevelt Leonard, R/W-AC
Collier County
3335 Tamiami Trail East, Suite 101
Naples, FL 34112
Re: Real Estate Appraisal
Cypress Cove Conservancy
4261 40th Avenue SE, Naples,
Collier County, Florida, 34117
RKL File Number: 2024-175
Dear Mr. Leonard:
At your request, RKL Appraisal and Consulting, PLC has prepared the accompanying
appraisal for the above referenced property. The purpose of the appraisal is to estimate
the market value of the fee simple interest in the subject property . The intended users for
the assignment are Conservation Collier and the Collier County Board of Commissioners,
and the intended use of the appraisal is to assist with the acquisition decisions by
Conservation Collier and the Collier County Board of Commissioners . We use the
appraisal report option of Standards Rule 2 -2 of USPAP to report the assignment results.
Please reference the appraisal scope section of this report for important information
regarding the scope of research and analysis for this appraisal, including property
identification, inspection, highest and best use analysis , and valuation methodology.
The accompanying appraisal conform s with the Uniform Standards of Professional
Appraisal Practice (USPAP), the Code of Professional Ethics and Standards of
Professional Appraisal Practice of the Appraisal Institute, and the appraisal guidelines of
Collier County.
The subject is an existing residential type property containing 1,549 square feet of
rentable area. The stilt home was constructed in 1988 and had extensive renovations from
2021 through 2023. It is operated as the Gore Nature Center by Cypress Cove
Conservancy, Inc. The site consists of 10.00 acres, or 435,600 square feet.
Page 1849 of 6405
Mr. Roosevelt Leonard, R/W-AC
Collier County
August 28, 2024
Page 2
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
Based on the appraisal described in the accompanying report, subject to the Limiting
Conditions and Assumptions, Extraordinary Assumptions and Hypothetical Conditions
(if any), we have made the following value conclusion(s):
VALUE C ONCLUSIONS
Appraisal Premise Interest Appraised Date of Value Value Conclusion
Market Value, As Is Fee Simple August 2, 2024 $720,000
The value conclusion(s) are subject to the following hypothetical conditions and extraor dinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions: None.
Extraordinary Assumptions: Conservation Collier supplied these appraisers with an Initial
Criteria Screening Report dated August 3, 2022 with revisions
on August 26, 2022, February 7, 2024 and March 6, 2024. The
screening report was prepared for seven parcels at 20.77 acres
including the subject property. We have assumed that the
information supplied in the report is generally similar for all the
seven tracts.
Respectfully submitted,
RKL APPRAISAL AND CONSULTING, PLC
K. C. Lowry, MAI, CPA
Florida State -Certified General Real Estate Appraiser RZ2355
klowry@rklac.com; Phone 239-596-0802
Rachel M. Zucchi, MAI, CCIM
Florida State -Certified General Real Estate Appraiser RZ2984
rzucchi@rklac.com; Phone 239-596-0801
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CYPRESS COVE CONSERVANCY TABLE OF CONTENTS
TABLE OF CONTENTS
Summary of Important Facts and Conclusions.......................................................................1
Conservation Features Summary Overview ...........................................................................3
Introduction Information ..........................................................................................................4
Subject Identification ...........................................................................................................4
Current Ownership and Property History ...........................................................................4
Appraisal Scope ....................................................................................................................4
Client, Intended User, and Intended Use ............................................................................5
Definition of Market Value .................................................................................................5
Definition of Property Rights Appraised ............................................................................5
Purpose of Appraisal, Property Rights Appraised, and Dates ...........................................6
Scope of Work ......................................................................................................................6
Economic Analysis ...................................................................................................................8
National Economic Analysis ...............................................................................................8
Florida Economic Analysis................................................................................................10
Collier County Area Analysis............................................................................................11
Market Area Analysis ........................................................................................................28
Property Description and Analysis ........................................................................................33
Site Analysis .......................................................................................................................33
Improvements Analysis......................................................................................................46
Real Estate Taxes and Assessments ..................................................................................62
Highest and Best Use .........................................................................................................63
Valuation Methodology .........................................................................................................65
Analyses Applied ...............................................................................................................66
Sales Comparison Approach..............................................................................................67
Reconciliation .....................................................................................................................77
Certification ............................................................................................................................79
Assumptions and Limiting Conditions..................................................................................81
Addenda
Appraiser Qualifications ....................................................................................... Addendum A
Financials and Property Information .................................................................... Addendum B
Comparable Data .................................................................................................. Addendum C
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CYPRESS COVE CONSERVANCY SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
Page 1
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
GENERAL
Subject:
Cypress Cove Conservancy
4261 40th Avenue SE, Naples,
Collier County, Florida, 34117
Owner: Cypress Cove Conservancy, Inc
Legal Description: All of Tract 15 and Tract 18, Unit 91, Golden Gate Estates,
according to the plat thereof, recorded in Plat Book 5, Page 30,
Public Records of Collier County, Florida.
Tax Identification: 41501440005
Intended Use: The intended use is to assist with the acquisition decisions by
Conservation Collier and the Collier County Board of
Commissioners.
Intended User(s): Conservation Collier and the Collier County Board of
Commissioners
PROPERTY
Land Area: Total: 10.00 acres; 435,600 square feet
Improvements:
Year Built: 1988
Renovations: 2021-2023
Gross Building Area (GBA): 1,962
Gross Leasable Area (GLA): 1,549
Zoning: E - Estates
Highest and Best Use
As if Vacant
Single family residential development
As Improved The highest and best use is as currently improved.
Exposure Time 12 months
Marketing Period 12 months
VALUE INDICATIONS
As Is
Cost Approach: Not Developed
Sales Comparison Approach: $720,000
Income Approach:
Not Developed
Reconciled Value(s): As Is
Value Conclusion(s) $720,000
Effective Date(s) August 2, 2024
Property Rights Fee Simple
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CYPRESS COVE CONSERVANCY SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
Page 2
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions: None.
Extraordinary Assumptions: Conservation Collier supplied these appraisers with an Initial
Criteria Screening Report dated August 3, 2022 with revisions
on August 26, 2022, February 7, 2024 and March 6, 2024. The
screening report was prepared for seven parcels at 20.77 acres
including the subject property. We have assumed that the
information supplied in the report is generally similar for all the
seven tracts.
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CYPRESS COVE CONSERVANCY CONSERVATION FEATURES SUMMARY OVERVIEW
Page 3
CONSERVATION F EATURES SUMMARY OVERVIEW
Project Name: Cypress Cove Conservancy
Folio numbers with owner(s) of record: 41501440005; Cypress Cove Conservancy, Inc
Zoning and overlays: E Estates within Golden Gate Estates future land use
Zoning Considerations for TDR’s, PHU, other endangered species: According to a
Conservation Collier Initial Criteria Screening Report revised and dated March 6, 2024, the
surveyed parcels contain approximately 81% hydric soils. The property is zoned Estates. A.
Per the wetlands mapper from U.S. Fish & Wildlife Service the property includes 10.00 acres
of Freshwater Forested/Shrub Wetlands. Documented wildlife on the surveyed parcels
include the Florida panther, Florida sandhill crane, Little Blue Heron, Tricolored Heron,
Wood stork and American alligator.
Was the cost to mitigate wetlands or endangered species taken into consideration?
According to a Conservation Collier Initial Criteria Screening Report revised and dated
March 6, 2024 there are invasive vegetation on the subject site. Management issues and
estimated costs associated with exotics include: Initial Exotic Removal estimated at $4,000 -
$6,800 and ongoing annual estimated at $3,500.
Scope of proposed mitigation: The property has cleared to heavy vegetation. According to a
Conservation Collier Initial Criteria Screening Report revised and dated March 6, 2024, the
surveyed area includes Cypress, Cypress Mixed Hardwoods, Mixed Wetland Hardwoods,
Mixed Shrub-Shrub Wetland and Pine Flatwood. Lands covers include Cypress/Tupelo
Mixed and Mixed Wetland Hardwoods. Approximately 50-65% of the plant communities
within the TPMA parcels are infested with invasive vegetation – primarily Brazilian pepper.
Other species of concern include lantana, mission grass, cogon grass, and Boston fern.
Land Area: 10.00 acres or 435,600 square feet
Access for the parcel taken into consideration: Yes, the property has good access with a gate.
Highest and Best Use: Single family residential development
Date of estimated value: August 2, 2024
Estimated value: $720,000
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CYPRESS COVE CONSERVANCY INTRODUCTION INFORMATION
Page 4
INTRODUCTION INFORMATION
SUBJECT IDENTIFICATION
Subject:
Cypress Cove Conservancy
4261 40th Avenue SE, Naples,
Collier County, Florida, 34117
Legal Description: All of Tract 15 and Tract 18, Unit 91, Golden Gate
Estates, according to the plat thereof, recorded in Plat
Book 5, Page 30, Public Records of Collier County,
Florida.
Tax Identification: 41501440005
The subject is an existing residential type property containing 1,549 square feet of
rentable area. The stilt home was constructed in 1988 and had extensive renovations from
2021 through 2023. It is operated as the Gore Nature Center by Cypress Cove
Conservancy, Inc. The site consists of 10.00 acres, or 435,600 square feet.
CURRENT OWNERSHIP AND PROPERTY HISTORY
Owner
The owner of the property is Cypress Cove Conservancy, Inc .
Sale History
According to public records, the subject has not sold in the last three years.
Current Listing/Contract(s):
The subject is not currently listed for sale, or under contract.
To the best of our knowledge, no other sale or transfer of ownership has occurred within
the past three years, and as of the effective date of this appraisal, the property is not
subject to an agreement of sale or option to buy, nor is it listed for sale.
APPRAISAL SCOPE
According to the Uniform Standards of Professional Appraisal Practice, it is the
appraiser’s responsibility to develop and report a scope of work that results in credible
results that are appropriate for the appraisal problem and intended user(s). Therefore, the
appraiser must identify and consider:
● the client and any other intended users;
● the intended use of the appraiser’s opinions and conclusions;
● the type and definition of value;
● the effective date of the appraiser’s opinions and conclusions;
● subject of the assignment and its relevant characteristics
● assignment conditions
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CYPRESS COVE CONSERVANCY INTRODUCTION INFORMATION
Page 5
● the expectations of parties who are regularly intended users for similar
assignments; and
● what an appraiser’s peer’s actions would be in performing the same or a similar
assignment.
CLIENT, INTENDED USER, AND INTENDED USE
The client and the intended user of the appraisal are Conservation Collier and the Collier
County Board of Commissioners . The intended use is to assist with the acquisition
decisions by Conservation Collier and the Collier County Board of Commissioners . The
appraisal is not intended for any other use or user.
DEFINITION OF MARKET VALUE
Market value definition used by agencies that regulate federally insured financial
institutions in the United States is defined by The Dictionary of Real Estate Appraisa l,
7th ed. (Chicago: Appraisal Institute, 20 22) as:
The most probable price that a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller each acting prudently
and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit
in this definition is the consummation of a sale as of a specified date and the passing
of title from seller to buyer under conditions whereby:
▪ Buyer and seller are typically motivated;
▪ Both parties are well informed or well advised, and acting in what they consider
their best interests;
▪ A reasonable time is allowed for exposure in the open market;
▪ Payment is made in terms of cash in United States dollars or in terms of
financial arrangements comparable thereto; and
▪ The price represents the normal consideration for the property sold unaffected
by special or creative financing or sales concessions granted by anyone
associated with the sale.”
(Source: 12 C.F.R. Part 34.42(h); 55 Federal Register 34696, August 24, 1990, as amended at 57
Federal Register 12202, April 9, 1992; 59 Federal Register 29499, June 7, 1994 ; 79 Federal Register
28400, May 16, 2014; 83 Federal Register April 9, 2018; 84 Federal Register, October 8, 2019 )
DEFINITION OF PROPERTY RIGHTS APPRAISED
Fee simple estate is defined as an: “Absolute ownership unencumbered by any other
interest or estate, subject only to the limitations imposed by the governmental powers of
taxation, eminent domain, police power, and escheat.” (Source: The Dictionary of Real
Estate Appraisal, 7th ed. (Chicago: Appraisal Institute, 20 22)
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CYPRESS COVE CONSERVANCY INTRODUCTION INFORMATION
Page 6
PURPOSE OF APPRAISAL, PROPERTY RIGHTS APPRAISED, AND DATES
The purpose of the appraisal is to estimate the market value of the fee simple interest in
the subject property. The effective date of the subject appraisal is August 2, 2024 . The
date of inspection was August 2, 2024 . The date of the report is August 28, 2024.
SCOPE OF WORK
The problem to be solved is to estimate the market value of the fee simple interest in the
subject property.
SCOPE OF WORK
Report Type: This is an Appraisal Report as defined by Uniform
Standards of Professional Appraisal Practice under
Standards Rule 2-2(a). This format provides a summary or
description of the appraisal process, subject and market
data and valuation analyses.
Property Identification: The subject has been identified by the legal description and
the assessors' parcel number.
Inspection: A complete interior and exterior inspection of the subject
property has been made, and photographs taken.
Market Area and Analysis of
Market Conditions:
A complete analysis of market conditions has been made.
The appraiser maintains and has access to comprehensive
databases for this market area and has reviewed the market
for sales and listings relevant to this analysis.
Highest and Best Use Analysis:
A complete as vacant and as improved highest and best use
analysis for the subject has been made. Physically possible,
legally permissible and financially feasible uses were
considered, and the maximally productive use was
concluded.
Valuation Analyses
Cost Approach:
A cost approach was not applied as a typical buyer does not
utilize this valuation technique in the current economic
environment except for build -to-suit and special purpose
properties.
Sales Comparison Approach:
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.
Income Approach:
An income approach was not applied as while the subject
could generate an income stream, the most probable buyer
is an owner-occupant.
Hypothetical Conditions:
None.
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CYPRESS COVE CONSERVANCY INTRODUCTION INFORMATION
Page 7
Extraordinary Assumptions:
Conservation Collier supplied these appraisers with an
Initial Criteria Screening Report dated August 3, 2022 with
revisions on August 26, 2022, February 7, 2024 and March
6, 2024. The screening report was prepared for seven
parcels at 20.77 acres including the subject property. We
have assumed that the information supplied in the report is
generally similar for all the seven tracts.
Comments
The individual sections of the report detail the additional research, confirmation, and
analysis of relevant data.
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CYPRESS COVE CONSERVANCY NATIONAL ECONOMIC ANALYSIS
Page 8
ECONOMIC ANALYSIS
NATIONAL ECONOMIC ANALYSIS
The Federal Reserve Open Market Committee (FOMC) released the following statement
on July 31, 2024. Recent indicators suggest that economic activity has continued to
expand at a solid pace. Job gains have moderated, and the unemployment rate has moved
up but remains low. Inflation has eased over the past year but remains somewhat
elevated. In recent months, there has been some further progress toward the Committee's
2 percent inflation objective.
The Committee seeks to achieve maximum employment and inflation at the rate of 2
percent over the longer run. The Committee judges that the risks to achieving its
employment and inflation goals continue to move into better balance. The economic
outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual
mandate.
In support of its goals, the Committee decided to maintain the target range for the federal
funds rate at 5-1/4 to 5-1/2 percent. In considering any adjustments to the target range for
the federal funds rate, the Committee will carefully assess incoming data, the evolving
outlook, and the balance of risks. The Committee does not expect it will be appropriate to
reduce the target range until it has gained greater confidence that inflation is moving
sustainably toward 2 percent. In addition, the Committee will continue reducing its
holdings of Treasury securities and agency debt and agency mortgage -backed securities.
The Committee is strongly committed to returning inflation to its 2 percent objective.
In assessing the appropriate stance of monetary policy, the Committee will continue to
monitor the implications of incoming information for the economic outlook. The
Committee would be prepared to adjust the stance of monetary policy as appropriate if
risks emerge that could impede the attainment of the Committee's goals. The Committee's
assessments will take into account a wide range of information, including readings on
labor market conditions, inflation pressures and inflation expectations, and financial and
international developments.
The following table details the economic forecasts of Federal Reserve Board members
and Federal Reserve Bank presidents as of June 2024. Real GDP is projected to grow at a
rate of 2.1% in 2024, the same as the March 2024 projection. The unemployment
projection also remained the same at 4.0%. The Core PCE inflation projection increased
from 2.6% to 2.8% in 2024.
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According to Freddie Mac Chief Economist Sam Khater, “Given inflation continues to
decelerate and the Federal Reserve Board’s current expectations that they will lower the
federal funds target rate next year, we likely will see a gradual thawing of the housing
market in the new year.” According to a December 20 23 AP report, the recent downward
shift in mortgage rates is a welcome development for homebuyers. Mortgage applications
notched their sixth consecutive weekly increase last week, according to the Mortgage
Bankers Association.
According to an November 2023 report by Lawrence Yun, although high mortgage rates,
elevated home prices and limited housing inventory have crippled the 2023 housing
market, the outlook for 2024 is brighter. Mr. Yun expects existing -home sales to increase
by 15% in 2024 as mortgage rates stabilize and home sellers adapt. “I believe we’ve
already reached the peak in terms of interest rates. The question is when are rates going
to come down?”
According to the National Association of Real Estate Investment Trusts’ (NAREIT) 2024
Outlook, with the Federal Reserve at, or near, the end of its tightening cycle, REITs are
well-situated for outsized performance in 2024. “While public real estate valuations have
adjusted, private real estate valuations probably will see further declines in 2024.” The
firm noted that REITs’ well-managed balance sheets likely will enable them to navigate
economic uncertainty in 2024.
The 2024 CBRE U.S. Real Estate Market Outlook there is an increased chance that the
U.S. will avoid a recession and achieve a soft economic landing in 2024, but economic
growth will slow and downside risks are elevated. Commercial real estate investment
activity likely will begin to pick up in the second half of 2024. The normalization of
hybrid working arrangements will continue to limit the growth of office demand. Retail
real estate fundamentals are expected to remain strong due to the scarcity of new
construction deliveries over the past decade. The industrial market is expected to remain
healthy, with net absorption on par with 2023 levels. The biggest wave of new apartment
supply in decades will temper rent growth and improve affordability for renters in 2024.
The hotel industry will face headwinds to RevPAR growth in 2024, including
competition from alternative lodging sources and a slower economy, but fewer
Americans traveling internationally will benefit the domestic market. Demand for new
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data center development will attract more institutional investment in 2024, as investors
reallocate capital from the office sector to real estate alternatives.
According to the Deloitte Center for Financial Services annual Commercial Real Estate
Outlook for 2024, “the global real estate industry has an opportunity to start rebuilding on
more solid ground. Multiple factors, from a pandemic -era recovery that shifted how and
where people work to more recent geopolitical uncertainties and financial market
instability, the coming year is expected to be pivotal in real estate firms’ ability to recover
and build up. Marked by a myriad of mixed signals about the health and trajectory of our
industry, real estate leaders may need to find their footing as they shape the next phase of
real estate ownership and investment.”
According to the PwC Emerging Trends in Real Estate 2024, there’s a reluctant
acceptance in the industry that interest rates will remain high for at least the next year and
possibly even longer. “Even good news, such as investors being eager to acquire new
assets, is tempered by bleak sector data. For example, despite available equity,
transactions are down — and many in the industry point to instances where buyers and
sellers simply can’t agree on pricing because the dearth of sales limits price clarity.”
Respondents to the Emerging Trends survey believe the worst of inflation is behind us,
which should give the Federal Reserve a reason to pause interest rate hikes.
According to J.P. Morgan Chase 2024 commercial real estate outlook, “m ultifamily and
neighborhood retail stay strong, while industrial may be starting to soften. The future of
office buildings remains unclear.” They also report the future of interest rates is uncertain
as the economy begins to slow down.
FLORIDA ECONOMIC ANALYSIS
According to the U.S. Census Bureau, after a historically low rate of change between
2020 and 2021, the U.S. resident population increased by 0.4%, or 1,256,003, to
333,287,557 in 2022. Florida was the fastest -growing state in 2022, with an annual
population increase of 1.9%, resulting in a total resident population of 22,244,823. It was
also the second largest-gaining state behind Texas, with an increase of 416,754 residents.
Net migration was the largest contributing component of change to Florida’s growth,
adding 444,484 residents. “While Florida has often been among the largest -gaining
states,” Kristie Wilder, a demographer in the Population Division at the Census Bureau
noted, “this was the first time since 1957 that Florida has been the state with the largest
percent increase in population.
According to the Summer 202 3 Florida Forecast prepared by the Institute for Economic
Competitiveness at the University of Central Florida, Florida’s economy, as measured by
real Gross State Product, will expand at an average annual rate of 1.5% from 2023 to
2026. Real Gross State Product will decelerate during the economic slowdown as growth
will slow to 0.5% in 2024 and 0.8% in 2025, then accelerate to reach 1.7% by 2026.
Payroll job growth in Florida will begin to falter with a slowdown in the U.S. economy,
but not in every sector. After year -over-year growth of 4.7% in 2021 and job growth of
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5.6% in 2022, payroll employment in 2023 will decrease to 2.4%, contract by 1.8% in
2024, and by 0.4% in 2025. Job growth turns positive and grows by 1.0% in 2026 .
Housing starts have felt the bitter chill of higher mortgage rates. Total starts were
192,213 in 2022—before higher mortgage rates and worries of a slowing economy will
result in a deceleration in starts to 183,134 in 2023, 158,716 in 2024, 154,424 in 2025,
and 150,981 in 2026.
The unemployment rate fell to 4.7% in 2021, and then to 2.9% in 2022. The slowing
economy will push the rate up to 3.1% in 2023, to 4.4% in 2024, and to 5.0% in 2025 and
2026.
COLLIER COUNTY AREA ANALYSIS
Collier County has long been an attractive place to retire and it continues to be an area
that experiences a great deal of seasonal population increases. According to the Collier
County Comprehensive Planning Department, Collier County’s population increases up
to 25% between November and April due to seasonal residents and short -term
agricultural workers in the Immokalee area. The population increase creates a high
degree of seasonality within the retail, service, and hospitality sectors of Collier County’s
economy.
Collier County is located less than 150 miles from Fort Myers, Fort Lauderdale, Miami,
Sarasota, and West Palm Beach as shown in the following table.
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Metro Area Miles
Fort Myers 44 Jacksonville 378
Fort Lauderdale 107 Tallahassee 435
Miami 128 Atlanta 616
Sarasota 120 New York 1,311
West Palm Beach 150 Dallas 1,315
Tampa 169 Chicago 1,335
Orlando 238
Distance to Other Major Markets
Population
The Bureau of Economic and Business Research, University of Florida released the
following population statistics for Southwest Florida. As shown, total population
increased in all six Southwest Florida counties with the greatest percentage growth in Lee
County and the second highest in Charlotte County .
2023 2025 2030
2023 2025 2030 2035 to 2025 to 2030 to 2035
Southwest Florida 1,922,304 1,993,700 2,144,000 2,262,900 3.71% 7.54% 5.55%
Charlotte 204,126 211,300 226,900 240,000 3.51% 7.38% 5.77%
Collier 399,480 413,300 443,000 466,000 3.46% 7.19% 5.19%
Glades 12,591 12,700 12,900 13,000 0.87% 1.57% 0.78%
Hendry 40,895 41,500 42,600 43,400 1.48% 2.65% 1.88%
Lee 800,989 835,900 908,500 964,400 4.36% 8.69% 6.15%
Sarasota 464,223 479,000 510,100 536,100 3.18% 6.49% 5.10%
Percent Change
Projections of Florida Population by County, 2025-2050, with Estimates for 2023
Source: University of Florida, Bureau of Economic and Business Research, Florida Population Studies,
Bulletin 198, January 2024
Population
U.S. News & World Report, the global authority in rankings and consumer advice
evaluated the country’s 150 most populous metropolitan areas based on affordability, job
prospects and desirability. The 2024 25 Best Places to Retire includes six Florida metro
areas with Daytona Beach the top Florida market at No. 8. Tampa is No. 12 overall while
Sarasota is No. 18. Naples is ranked 6 th overall in the 2023-2024 Best Places to Live
report released by U.S. News & World Report and Sarasota is ranked 5 th.
Naples ranks No. 1 in the annual U.S. News & World Report Best Places to Live in the
U.S. Sarasota, was ranked No. 11.
Employment
The local economy is largely dependent on the real estate market. Covid-19 negatively
impacted overall employment and the service and leisure and hospitality sectors in
particular; however, jobs continue to return as the market improves. Tourism drives much
of the Collier County area's economy, with leisure and hospitality composing almost 20%
of the workforce. Employment growth has slowed considerably here, according to the
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Florida Bureau of Workforce Statistics and Economic Research, Collier County added
approximately 1,200 jobs over the past year as of November 2023. The leisure and
hospitality sector led the region in job gains, adding 900 jobs year over year. However,
several industries recorded year -over-year job losses, with professional and business
services leading the region with 1,100 jobs lost.
The following table shows the 1Q 2024 Collier County Employment by Industry as well
as historical and projected job growth.
The following table shows employment projections through 20 31 by the Florida
Department of Economic Opportunity. As shown, the Leisure and Hospitality industry
has the largest projected growth rate of 19.3% followed by Education and Health
Services (13.7%).
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NAICS Title 2023 2031 Growth
Percent
Growth
Total, All Industries 592,524 657,397 64,873 10.9
Agriculture, Forestry, Fishing & Hunting 7,122 6,681 -441 -6.2
Mining 460 486 26 5.7
Construction 66,003 73,809 7,806 11.8
Manufacturing 14,969 16,103 1,134 7.6
Trade, Transportation and Utilities 105,894 113,674 7,780 7.3
Information 5,278 5,626 348 6.6
Financial Activities 28,940 32,255 3,315 11.5
Professional and Business Services 75,246 85,284 10,038 13.3
Education and Health Services 69,915 79,489 9,574 13.7
Leisure and Hospitality 81,102 96,765 15,663 19.3
Other Services, Ex. Public Admin 21,653 23,603 1,950 9.0
Government 68,519 72,939 4,420 6.5
Self Employed and Unpaid Family Workers, All Jobs 47,423 50,683 3,260 6.9
Source: Florida Department of Economic Opportunity
JOBS BY INDUSTRY
CHARLOTTE, COLLIER, GLADES, HENDRY, AND LEE COUNTIES
Employment
Collier County unemployment peaked in August 2010 at 13.0% and had generally been
declining until the Covid-19 pandemic with unemployment peaking again at 13.1% in
April 2020. The preliminary reported unemployment rate in February 2024 was only
3.0%.
The annual Collier County rate peaked in 2010 at 11 .6% and had declined steadily since
until the spike from the Covid-19 pandemic in April 2020. However, unemployment
numbers have steadily decreased as the economy continues to improve.
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As of February 2024, the unemployment rate for the State of Florida was 3.3%, down
from the peak in May 2020 of 14.3%. On a national level, the unemployment rate in
February 2024 was 3.8%, a decrease from the peak in April 2020 of 14.8%. Collier
County currently has a lower February rate, at 3.0%, than state and national levels.
The local economy is largely dependent on the real estate market. The following table
from the U.S. Department of Labor shows Naples/Immokalee/Marco Island employment
from 2014 through March 2024. As shown, unemployment from the Covid-19 pandemic
affected the service and leisure and hospitality sectors the most. All sectors have regained
all lost jobs and have exceeded 2019 levels.
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Year
Service-
Providing
%
Change
Goods
Producing
%
Change
Mining, Logging, &
Const.
%
Change
Leisure and
Hospitality
%
Change
All Employees,
Total Nonfarm
%
Change
2014 114,400 4.4%15,400 14.1%12,100 15.2%25,500 4.5%129,400 4.9%
2015 118,500 3.6%17,000 10.4%13,600 12.4%26,500 3.9%135,500 4.7%
2016 123,200 4.0%18,700 10.0%14,900 9.6%27,500 3.8%141,900 4.7%
2017 125,400 1.8%19,400 3.7%15,400 3.4%28,300 2.9%144,800 2.0%
2018 128,600 2.6%21,500 10.8%17,200 11.7%29,100 2.8%150,100 3.7%
2019 132,200 2.8%22,400 4.2%17,700 2.9%30,000 3.1%154,600 3.0%
2020 125,300 -5.2%22,100 -1.3%17,200 -2.8%25,600 -14.7%147,400 -4.7%
2021 132,000 5.3%23,200 5.0%18,100 5.2%27,800 8.6%155,300 5.4%
2022 139,700 5.8%24,800 6.9%19,400 7.2%29,300 5.4%164,500 5.9%
2023 144,700 3.6%26,400 6.5%20,800 7.2%30,000 2.4%171,100 4.0%
2024*149,200 2.0%26,900 4.0%21,200 3.8%32,600 3.3%176,100 2.3%
*Through March 2024; percentage increase in comparison to March 2023 YTD
Source: U.S. Department of Labor
Naples - Immokalee - Marco Island
Collier County and the entire Southwest Florida Region is substantially dependent on the
real estate and construction sectors. Therefore, the area has been and should be more
susceptible to cyclical fluctuations that have occurred in other areas dominated by a
single industry. The Southwest Florida Economic Development Alliance reports key
employers in Southwest Florida (Collier, Lee and Charlotte County ) from Biofuels,
healthcare, technology, apparel design, to sugar production are a driving force behind the
region’s success. The table below provides a few examples of some key employers in
Southwest Florida.
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The following table shows the Top 25 Employers as reported by the Florida Gulf Coast
University Regional Economic Research Institute in 2023 .
Tourist Tax Revenues
The following graph from the Southwest Florida Regional Economic Indicators April
2024 report prepared by Florida Gulf Coast University shows Collier, Lee, Charlotte ,
Sarasota County’s tourist tax revenues. The after-effects of Hurricane Ian continue to be
felt in the Southwest Florida economy .
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Development
Growth continues to shift east with Ave Maria becoming the top -selling single-family
residential community in Collier County and was recently ranked as one of the Top 20
Selling Master-Planned Communities in the United States. It has maintained the top
ranking in the Naples-Fort Myers market for the past eight years. Ave Maria reported a
total of 652 new home sales in 2023, an increase from the record breaking 646 new home
sales in 2021, and an increase from the 586 new home sales in 2022. It is the highest -
ranking commumity in all of Collier County. There are currently four residential builders
in Ave Maria, CC Homes, Del Webb Naples, Lennar and Pulte Homes. The grand
opening of The National Golf and Country Club at Ave Maria, a bundled golf community
by Lennar, was held on January 7, 2021. The Immokalee Road corridor between Naples
and Ave Maria is projected to see thousands of new homes developed in the next few
years. According to a June 2023 Naples Daily News article, Collier County
commissioners approved an increase in the town of Ave Maria by nearly 1,000 acres to
5,000 acres which doesn’t include the roughly 1,000 -acre Ave Maria University campus
and other public benefits such as parks. According to David Genson, president of
development for Barron Collier Cos., while more single-family homes will be built, the
maximum number of residences won’t change, with the cap remaining at 11,000. With
the way the town was originally laid out, it would have supported about 8,400 units
without adding more land. The original plans called for 60% of the homes to be single -
family which will increase to more than 80%. According to Genson, they are on pace to
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possibly sell close to 700 homes in 2023. Approximately 50% of the buyers are from the
east coast of Florida.
In January 2020, in what has been described as one of the most important votes for the
future of growth in Collier County, commissioners approved Rivergrass Village. The
village is the first of three planned 1,000 -acre villages stretching from just north of Oil
Well Road to east of Golden Gate Boulevard East. Rivergrass Village will allow for up to
2,500 homes; 100,000 square feet of retail and office uses and a minium of 25,000 square
feet for civic government, and institutional buildings. Longwater Village will allow for
up to 2,600 homes; 65,000 square feet of retail and office space and 25,000 square feet
for civic government, and institutional buildings and Bellmar Village will allow for up to
2,750 homes; 85,000 square feet of retail and office space and 27,500 square feet for
civic government, and institutional buildings. In a near unanimous decision, the Collier
County Planning Commission agreed to recommend approval of Longwater in March
2021. The project has sparked controversy because the property sits in the
environmentally sensitive Rural Lands Stewardship Area, or RLSA . Commissioners
voted to approve the Longwater and Bellmar Villages on June 8, 2021. The
commissioners approved Brightshore, another rural village with thousands of proposed
homes in December 2022.
There are more than $1 billion in new luxury high -rise developments near the coast
including One Naples at the northeast corner of Vanderbilt Beach Road and Gulf Shore
Drive as well as Pelican Bay (Mystique completed in 2019) and Kalea Bay (Towers 100
and 200 are complete, Tower 300 was completed in December 2022, Tower 400
currently under construction) in North Naples. New commercial development is very
active at the intersections of Collier Boulevard and US 41 East as well as Collier
Boulevard and Immokalee Road.
In its 4th Quarter 2023 report, the Office of Federal Housing Enterprise Oversight
(OFHEO) found that the Naples- Marco Island MSA had a 5.9% increase in home prices
(all-transactions including purchase and refinance mortgage) over the trailing 12 months.
Home prices in the state of Florida increased 6.85% over the past year (4Q 2023 - 4Q
2024) which was 23 rd in the nation.
The continuing care retirement community, Moorings Park, teamed with London Bay
Homes to develop an independent living development with 275 residences in 17
buildings. All of the buildings are six stories over parking. Grande Lake, will be built on
55 acres off Golden Gate Parkway, between Airport -Pulling and Livingston Roads.
Entrance fees start at $1.5 million and are 70% refundable. Construction on the first 47
units in three buildings commenced in December 2018 with completion in May 2020.
Arthrex, a medical device manufacturer and one of the county's largest employers,
completed construction of its latest expansion plan at its headquarters along Goodlette -
Frank Road in early 2020. The development includes a 300,000 square -foot, six-story
office complex with an auditorium, a four -story Innovation Hotel with approximately 160
rooms, a two-story wellness center, and a 3 -acre park. The hotel hosts orthopedic
surgeons from the U.S. and around the world for medical education on the company's
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devices and instruments. Arthrex has contracted with a Tampa -based company, Mainsail,
to manage all elements of the hotel operation, including employees.
NCH Healthcare partnered with New York -based Hospital for Hospital for Special
Surgery, known as HSS, to build a three -story, 80,000 -square-foot hospital. HSS at NCH
will be a 15-bed acute-care addition on the hospital campus located along the north side
of Immokalee Road near the NCH North Naples campus between Health Park and
Medical Boulevards. The facility is expected to open to patients in early 2025.
The first regional store for Phoenix -based Sprouts Farmers Market anchors The Landings
at Logan, a new 18 -acre retail center at the southeast corner of Immokalee Road and
Logan Boulevard in North Naples. NCH Healthcare Northeast located at the northeast
quadrant of Immokalee Road and Collier Blvd (CR 951) opened in late 2015 and is the
first free standing ER facility in Collier County. The two -story building consists of
approximately 41,500± square feet.
Barron Collier Companies and Metro Development Group broke ground on Founders
Square, a 55-acre mixed-use development located on the southeast corner of Immokalee
Road and Collier Boulevard in January 2020. The development is anchored by The
Pointe, a collection of 10 separate restaurants and other retail tenants. It also includes a
400-unit Class A apartment community, known as The Haldeman; a 35,000 square foot
medical office building leased by Physicians Regional Medical Healthcare; and
StorQuest a 110,000 square foot self -storage facility.
Seed to Table, a new Oakes Farm grocery store at the northeast corner of Livingston and
Immokalee Roads in North Naples opened in December 2019. The former Albertson's
was completely gutted and consists of 77,000+ square foot store with sit -down dining, a
full-service bar, three bars for beer and wine, wine room with samples on tap, a wood -
fired brick oven for pizza, a raw bar, sushi bar, grilling area, coffee bar and stations
preparing fresh pasta, guacamole, cheese, cut vegetables, sandwiches, smoothies and
even homemade ice cream with indoor-outdoor seating.
Paradise Coast Sports Complex, is Collier County’s new $100 million Amateur Sports
Complex. The county hopes to become a destination for traveling youth sports teams and
amateur athletes. While the focus of the complex is athletics, there will be 20 fields
between soccer, baseball and softball, plus a 10,000 -person championship stadium, the
goal is to get people to stay after the game is over with The Cove and The Factory. The
Cove is a bar and food truck area for patrons to relax, listed to live music and play a
variety of yard games (bag toss, oversized Connect Four and Jenga, plus ping pong). The
Factory is an outdoor workout facility focusing on functional fitness (similar to CrossFit)
which is available on a monthly membership basis. Additionally, the man -made lake next
to The Cove includes a 2/3 mile jogging loop with three workout stations. There is a
climbing wall for public use and a beach volleyball court.
Collier County Commissioners approved a $15 million economic development agreement
on June 22, 2021 for The Great Wolf Lodge. The land was purchased for $9,100,000 in
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July 2021 and construction commenced in July 2022. The Lodge is built on 20 acres of
land along City Gate Boulevard North and features a 100,000 square foot indoor water
park, 500-room hotel, and 62,000 square feet of amenities and attractions. The resort is
expected to open in the autumn of 2024. It will bring in more than 200 construction jobs,
plus an additional 600 full-time and part-time jobs once open.
Investment Trends
The following CoStar data shows Collier County trends in the Multi -Family, Retail,
Office, and Industrial sectors as of the second quarter 2024.
According to the CoStar report, multifamily investment is down across Florida, and
Collier County is no exception. Total sales volume during 2023 was roughly $240
million, which represented a decline of approximately 40% over the previous year, and
there have been no notable trades to date in 2024.
Private and institutional buyers were the only active investor group in the last year, and
looking back over the previous three -year period shows private buyers comprising half of
all activity with the remainder coming from private equity and institutional investors.
As investment volume has fallen over the past year so too has the average price per unit.
Pricing peaked here at roughly $312,000/unit in early 2022 and has dropped to $270,000
as of the second quarter of 2024, a trend that is anticipated to continue over the coming
quarters.
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According to the CoStar Report, there have been 76 sales in the Naples retail market over
the past year, amounting to $365 million of volume and 490,000 SF of stock. These sales
have averaged $719/SF, greater than the estimated market price of $335/SF. During this
time, trailing one-year price per SF averages were as high as $719/SF and as low as
$362/SF. Over the past three years, Naples has averaged 103 sales per year, $363 million
of volume per year, and 1.1 million SF of stock per year.
The market's current transaction cap rate stands at 5.9%, below the national average of
6.6%. Over the past three years, transaction cap rates have averaged 5.4%.
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According to the CoStar Report, there have been 67 sales in the Collier County office
market over the past year, which amounts to $81.6 million of volume and 250,000 SF of
stock. These sales have averaged $397/SF, which is greater than the estimated market
price of $241/SF. During this time, trailing one -year price per SF averages were as high
as $397/SF and as low as $236/SF. Over the past three years, Collier County has
averaged 76 sales per year, $123 million of volume per year, and 570,000 SF of stock per
year.
The market's current transaction cap rate stands at 7.0%, below the national average of
7.3%. Over the past three years, transaction cap rates have averaged 6.8%.
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According to the CoStar report, there have been 58 industrial sales in the past year. Sales
have averaged $240/SF, and the estimated value for the market as a whole is $164/SF.
Over the past three years, there have been 282 sales, which have traded for approximately
$380 million. During this time, the market cap rate for Collier County has increased to
8.1%, higher than its trailing three -year average of 7.2%.
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Income
Personal income is a significant factor in determining the real estate demand in a given
market. The following table shows Collier County households by income from the
CCIM Site to do Business. Overall, Collier County has an average household income of
$135,508 and a per capita income of $57,867.
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Conclusion
The long term economic outlook for Collier County is positive. The area lures people
from all over the country for tourism as well as retirement, with the beaches and weather
considered major demand drivers.
The projected growth in population and employment provide an economic base that
supports demand for real estate in the subject neighborhood and for the subject property.
These conditions have resulted in increasing property values and should stimulate
continued increases within the foreseeable future. Prior to the coronavirus pandemic, the
residential market had stabilized after several years of an expansion period, with
sustained growth in demand and increasing construction. Since the coronavirus
pandemic, residential demand increased significantly with record sales in 2020 and
continued high demand but limited inventory in 2021 and 2022. Inventory increased in
2023 and 2024 YTD as demand declined due to continued increases in interest rates.
Prices continue to increase; however, the rate of increase is declining.
According to the Naples Area Board of Realtors (NABOR), there was a record $18.2
billion in sales in Collier County during 2020. Demand eclipsed all expectations in 2021
with a 25.8% increase in overall sales in 2021 and a 20.3% increase in median closed
price (year over year). The 202 3 Annual Market Report released by NABOR reported
total sales were down 13.6% in 2023 and the overall median sales price increased 4.3% to
$600,000 for the year. Single Family home prices were down 0.7 percent compared to
last year, and Condo home prices were up 6.6 percent.
Generally, the commercial market lags the residential market. The significant residential
demand since the pandemic has generally stabilized the commercial market overall with
an increased demand for the industrial sector and select retail and office properties.
Finally, it is noted that Hurricane Ian, a Category 4 storm, made landfall in Southwest
Florida on September 28, 2022, and caused widespread wind and storm surge damage.
The analyses and value opinion(s) in this appraisal are based on the data available to the
appraiser at the time of the assignment and apply only as of the effective date indicated.
No analyses or opinions contained in this appraisal should be construed as predictions of
future market conditions or value(s).
Page 1877 of 6405
CYPRESS COVE CONSERVANCY COLLIER COUNTY AREA ANALYSIS
Page 27
Collier County Area Map
Subject
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CYPRESS COVE CONSERVANCY MARKET AREA ANALYSIS
Page 28
MARKET AREA ANALYSIS
Boundaries
The subject is located in the north central part of Collier County in the northwestern
portion of the Collier County Rural Estates Planning Community .
This surrounding area is generally delineated as follows:
North Immokalee and Oil Well Roads
South Interstate 75 (Alligator Alley)
East Desoto Blvd.
West Generally County Road 951
The subject is located in Golden Gate Estates which consists of single family homes on
acreage parcels.
Market Area Access and Linkages
Primary access to the area is provided by Interstate 75 (I -75), a major arterial that runs
east to Fort Lauderdale and north through Tampa, Florida; I -75 terminates to the north at
the US/Canadian Border in Sault Ste. Marie, Michigan. Further access to the area from
Interstate75 is by:
• State Road 29 (I-75 exit 80) at Miles City.
• County Highway 846 (Immokalee Road, I -75 exit 111).
• Golden Gate Boulevard
Overall, vehicular access is average.
The subject property at 40th Avenue SE is accessed from southern Desoto Blvd . Collier
Boulevard extends from Immokalee Road to the north to Marco Island to the south.
Golden Gate Boulevard West intersects with Collier Boulevard between Vanderbilt
Beach Road and Pine Ridge Road. Golden Gate Boulevard West becomes Golden Gate
Boulevard East, east of the Wilson Boulevard N. Wilson Boulevard N and Everglades
Boulevard N provide access to Immokalee Road from the market area. Desoto Boulevard
N provides access to Randall Blvd and Oil Well Rd, both of which connect to Immokalee
Road.
The Southwest Florida International Airport (RSW) is located about 25+/- miles from the
market area; travel time is about 35 to 45 minutes, depending on traffic conditions. The
Naples Municipal Airport (APF) is approximately 15+/- miles and 30 to 40 minutes
southwest. Downtown Naples is approximately 20+/- miles from the market area and 30
to 40 minutes southwest.
Page 1879 of 6405
CYPRESS COVE CONSERVANCY MARKET AREA ANALYSIS
Page 29
Major Employers
Major employers in the area include the new NCH Healthcare Northeast located at the
northeast quadrant of Immokalee Road and Collier Blvd (CR 951). The freestanding
Emergency Room opened in late 2015 and is the first free standing ER facility in Collier
County. The two-story building has 19 private patient care room with 75 full -time
employees. The complex includes a small rehabilitation center on the ground floor with a
separate entrance from the emergency room and the second floor has physician offices.
Other employers include the Heritage Bay Government Center, immediately north of
NCH Northeast, commercial development within Founders Square, a 55 -acre mixed-use
development located on the southeast corner of Immokalee Road and Collier Boulevard,
and commercial development at Randall Boulevard and Immokalee Road.
Demographics / Demand Generators
The following table shows the historical, current and projected population, households,
housing, and income demographics for the immediate market area defined as a 2 mile
radius from the subject. The table was developed using data from STDBOnline.com.
Page 1880 of 6405
CYPRESS COVE CONSERVANCY MARKET AREA ANALYSIS
Page 30
Housing Profile
The following table shows the historical, current and projected housing data for the
immediate market area defined as a 2 mile radius from the subject. The table was
developed using data from STDBOnline.com.
Development Activity and Trends
The Davis Group, a commercial developer based in Atlanta, commenced development on
The Randall at Orangetree, mixed used planned development approved with up to 400
residential units and 150,000 square feet of commercial space at the northeastern corner
of Immokalee Road and Fourth Street N.E., Randall Curve area in mid 2022. The
development will include an Aldi grocery store, Ace Hardware, NCH Healthcare, Self
Storage, McDonalds, AutoZone, and Brickyard Car Wash.
Page 1881 of 6405
CYPRESS COVE CONSERVANCY MARKET AREA ANALYSIS
Page 31
Barron Collier Companies and Metro Development Group developed Founders Square, a
55-acre mixed-use development located on the southeast corner of Immokalee Road and
Collier Boulevard 2021. The development is anchored by The Pointe, a collection of 10
separate restaurants and other retail tenants. It also include a 400 -unit Class A apartment
community, known as The Haldeman; Physicians Regional Medical Group; and
StorQuest Self Storage.
A new Collier County government center located along the east side of Collier Blvd
within the northeast corner of Immokalee Road and Collier Blvd opened in early 2022.
The first phase of the Heritage Bay Government Center include s a 22,750 square foot
government services building on 7.7 acres the county owns immediately north of NCH
Northeast. The county tax collector’s office has the largest space in the one -story
building, but satellite offices also will be provided for the property appraiser, supervisor
of elections and select services of the clerk of courts.
As discussed, the new NCH Healthcare Northeast located at the northeast quadrant of
Immokalee Road and Collier Blvd (CR 951) opened in late 2015 and is the first free
standing ER facility in Collier County. The two -story building consists of approximately
41,500± square feet.
Watercrest Naples Assisted Living and Memory Care, a new 128 -unit luxury senior
living community opened in 2019 on the north side of Immokalee Road east of Collier
Boulevard.
A 46,000 square foot Publix opened in March 2017 at the corner of Immokalee Road and
Randall Boulevard. The Neighborhood Shoppes at Orangetree development includes a
CVS pharmacy, Publix Liquors store, China Palace restaurant, and Diamond Nails salon.
Residential growth continues to shift east with Ave Maria becoming the top -selling
single-family residential community in Collier County. The Immokalee Road corridor
between Naples and Ave Maria is projected to see thousands of new homes developed in
the next few years.
Outlook and Conclusions
As with the overall Collier County market, the long term economic outlook for Rural
Estates is positive. Total population is projected to increase slightly over the next five
years and begin a more normalized pattern thereafter.
Prior to the coronavirus pandemic, the residential market had stabilized after several
years of an expansion period, with sustained growth in demand and increasing
construction. Since the coronavirus pandemic, residential demand increased significantly
with record sales in 2020 and continued high demand but limited inventory in 2021 and
2022. Inventory increased in 2023 and 2024 YTD as demand declined due to continued
increases in interest rates. Prices continue to increase; however, the rate of increase is
declining.
Page 1882 of 6405
CYPRESS COVE CONSERVANCY MARKET AREA ANALYSIS
Page 32
Generally, the commercial market lags the residential market. The significant residential
demand since the pandemic has generally stabilized the commercial market overall with
an increased demand for the industrial sector and select retail and office properties.
Market Area Map
Page 1883 of 6405
CYPRESS COVE CONSERVANCY SITE ANALYSIS
Page 33
PROPERTY DESCRIPTION AND ANALYSIS
SITE ANALYSIS
The following description is based on our property inspection and public records.
SITE
Location: The subject is located on the north side of 40th Avenue SE
approximately 1,670 feet west of the intersection with Desota Blvd S
in an unincorporated area of Collier County known as North Golden
Gate Estates. The subject planning district is known as the Rural
Estates. The property is surrounded by lands owned by Collier
County and operated as the Dr. Robert H. Gore III Preserve.
Current Use of the Property: Improved with a 1,549 square foot, single family stilt residence.
Shape: The site is roughly square.
Road Frontage/Access:
The subject property has average access with frontage as follows:
• 40th Avenue SE (Two laned, asphalt, residential street): 660 feet
The site has an average depth of 660 feet. It is not a corner lot.
Visibility: Average
Topography: According to a Conservation Collier Initial Criteria Screening Report
revised and dated March 6, 2024, the surveyed parcels contain
approximately 81% hydric soils. The property is zoned Estates. A.
Per the wetlands mapper from U.S. Fish & Wildlife Service the
property includes 10.00 acres of Freshwater Forested/Shrub
Wetlands.
Soil Conditions: According to a Conservation Collier Initial Criteria Screening Report
revised and dated March 6, 2024, hydric soils exist on 81% of the
surveyed parcels. The subject soils include “Boca Riviera, Limestone
Substratum and Copeland FS Depressional', ' Hallandale and Boca
Fine Sands' and 'Hallandale Fine Sand'. We are not experts in soils
analysis and make no determination as to their development
potential.
Utilities:
Electricity: FP&L
Sewer: Septic required
Water: Well required
Underground Utilities: The site is not serviced by underground
utilities
Adequacy: The subject's utilities are typical and adequate for the
market area.
Site Improvements: • Street Lighting: There is no street lighting along 40th Avenue
SE.
• Sidewalks: There are no sidewalks along 40th Avenue SE.
• Curbs and Gutters: There are no curbs and gutters along 40th
Land Summary
Parcel ID Gross Land Area
(Acres)
Gross Land Area
(Sq Ft)
41501440005 10.00 435,600
Page 1884 of 6405
CYPRESS COVE CONSERVANCY SITE ANALYSIS
Page 34
Avenue SE. There are drainage swales along 40th Avenue SE.
• Curb Cuts: The subject has one curb cut along 40th Avenue SE.
• Landscaping: The property has cleared to heavy vegetation.
According to a Conservation Collier Initial Criteria Screening
Report revised and dated March 6, 2024, the surveyed area
includes Cypress, Cypress Mixed Hardwoods, Mixed Wetland
Hardwoods, Mixed Shrub-Shrub Wetland and Pine Flatwood.
Lands covers include Cypress/Tupelo Mixed and Mixed Wetland
Hardwoods. Approximately 50-65% of the plant communities
within the TPMA parcels are infested with invasive vegetation –
primarily Brazilian pepper. Other species of concern include
lantana, mission grass, cogon grass, and Boston fern.
Flood Zone: The subject is located in an area mapped by the Federal Emergency
Management Agency (FEMA). The subject is located in FEMA
flood zone AH, which is classified as a flood hazard area.
FEMA Map Number: 12021C 0445 H
FEMA Map Date: May 16, 2012
The subject is in a flood zone. The appraiser is not an expert in this
matter and is reporting data from FEMA maps.
Environmental Issues: According to a Conservation Collier Initial Criteria Screening Report
revised and dated March 6, 2024, documented wildlife on the
surveyed parcels include the Florida panther, Florida sandhill crane,
Little Blue Heron, Tricolored Heron, Wood stork and American
alligator. We were not provided with an environmental assessment
report for the purpose of this appraisal. Environmental issues are
beyond our scope of expertise; therefore, we assume the property is
not adversely affected by environmental hazards. There are invasive
vegetation on the subject site. Management issues and estimated
costs associated with exotics include: Initial Exotic Removal
estimated at $4,000 -$6,800 and ongoing annual estimated at $3,500.
There are additional initial and annual recurring costs associated with
the use of the subject site as a nature center including: Trail
construction: $1,800 initially and $100 annually; Signage: $2,700
initially and $400 annually; Gate enhancements: $7,700; Trail
structure maintenance: $2,200 initially and $800 annually; Security
enhancements: $30,000 initially; Sprinkler system and wildfire
safety enhancement: $15,000 initially; Underhouse storage and
security: $8,000 initially; and Electricity, water and building
maintenance: $4,000 initially.
Encumbrance / Easements: A current title report was not provided for the purpose of this
appraisal. We are not aware of any easement, restrictions, or
encumbrances that would adversely affect value. Therefore, our
valuation assumes the subject has a clear and marketable title with
no adverse easement, restrictions, or encumbrances.
Site Comments: The site includes 10.00 acres or 435,600 square feet. The subject has
660 feet of frontage on 40th Avenue SE in an unincorporated area of
Collier County known as the Rural Estates Corkscrew Planning
Community. The property is surrounded by lands owned by Collier
Page 1885 of 6405
CYPRESS COVE CONSERVANCY SITE ANALYSIS
Page 35
County and operated as the Dr. Robert H. Gore III Preserve. It is
zoned Estates. Per the wetlands mapper from U.S. Fish & Wildlife
Service, the property includes 10.00 acres of Freshwater
Forested/Shrub Wetlands. It is located in an AH flood zone.
ZONING
Zoning Code E
Zoning Authority Collier County
Zoning Description Estates
Permitted Uses Includes single-family dwellings, family care facilities
(subject to section 5.05.04), essential services (as set forth
in section 2.01.03), and schools, public, including
educational plants.
Actual Density of Use Less than 1.00
Current Use Legally Conforming The subject is legal and conforming use.
Zoning Change Likely A zoning change is unlikely.
Minimum Lot Area (SF) 2.25 acres
Minimum Floor Area (SF) 1,000
Minimum Street Frontage (Feet) 150
Front Set Back Distance (Feet) 75
Rear Set Back Distance (Feet) 75
Side Yard Distance (Feet) 30 feet; 37.5 feet for corner lots along longest side
Maximum Density/FAR One dwelling units per 2.25 acres
Maximum Building Height (Feet) 30
Zoning Comments We were not supplied with a survey indicating building
setbacks and have assumed that the improvements conform
to current building codes.
Future Land Use Designation Golden Gate Estates
Page 1886 of 6405
CYPRESS COVE CONSERVANCY SITE ANALYSIS
Page 36
Zoning Map
Subject
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Page 37
Aerial
Subject
Page 1888 of 6405
CYPRESS COVE CONSERVANCY SITE ANALYSIS
Page 38
Flood Map
Subject
Page 1889 of 6405
CYPRESS COVE CONSERVANCY SITE ANALYSIS
Page 39
Plat Map
Subject
Page 1890 of 6405
CYPRESS COVE CONSERVANCY SITE ANALYSIS
Page 40
Tax Map
Subject
Page 1891 of 6405
CYPRESS COVE CONSERVANCY SITE ANALYSIS
Page 41
Wetlands Mapper
Subject
Page 1892 of 6405
CYPRESS COVE CONSERVANCY SITE ANALYSIS
Page 42
Site Photographs
40th Avenue SE looking easterly
(Photo Taken on August 2, 2024)
40th Avenue SE looking westerly
(Photo Taken on August 2, 2024)
Page 1893 of 6405
CYPRESS COVE CONSERVANCY
Page 43
Site Photographs
Entry drive off 40th Avenue SE
(Photo Taken on August 2, 2024)
Driveway to entry
(Photo Taken on August 2, 2024)
Page 1894 of 6405
CYPRESS COVE CONSERVANCY
Page 44
Site Photographs
Cleared site
(Photo Taken on August 2, 2024)
Entry walkway
(Photo Taken on August 2, 2024)
Page 1895 of 6405
CYPRESS COVE CONSERVANCY
Page 45
Site Photographs
Entry walkway
(Photo Taken on August 2, 2024)
Heavy vegetation
(Photo Taken on August 2, 2024)
Page 1896 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 46
IMPROVEMENTS ANALYSIS
The subject is an existing residential type property containing 1,549 square feet of
rentable area. The stilt home was constructed in 1988 and had extensive renovations from
2021 through 2023. It is operated as the Gore Nature Center by Cypress Cove
Conservancy, Inc. The site consists of 10.00 acres, or 435,600 square feet.
IMPROVEMENTS DESCRIPTION
Property Type: Residential
Property Sub Type: Stilt residence on pilings
Occupancy Type: Single tenant
GENERAL
Building Description: Stilt residence on pilings
Construction Class: Class D
Construction Quality: Average
Appeal/Appearance: Average
Year Built: 1988
Renovations: 2021-2023
Actual Age (Yrs.): 36
Effective Age (Yrs.): 9
MVS Expected Life (Yrs.): 50
Remaining Useful Life (Yrs): 41
Condition: Average
Number of Buildings: One
Ratios:
Site Area (SF): 435,600
Building Efficiency Ratio: 79.0%
Land to Building Ratio: 222.02 to 1
FOUNDATION, FRAME & EXTERIOR
Foundation: Wood pilings on concrete footings
Structural Frame: Wood frame with wood trusses
Exterior: Painted wood siding. Fireplace with river rock.
Windows: Casement
Roof/Cover: Hip roof with central clerestory/cupola / Seamless metal
with skylights
Building Name/ID Year Built Condition Number of
Stories
Gross Building
Area
Rentable
Area
Number of
Units
Cypress Cove Conservancy 1988 Average One 1,962 1,549 1
Notes: The following description is based on our property inspection and public records. The square footage
reported herein is based on public records.
Building Summary
Page 1897 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 47
INTERIOR
Interior Layout: Entry hall to central hall with clerestory, kitchen, utility
room, dining area, living room, master bedroom with
bath, den with full bath, rear deck and two screened
porches. Underbuilding with gravel base and partial
vertical wood screening. Two screened porches and
outside rear deck. Long elevated walkway leads to a
lower front deck at 2,000 sf.
Floor Cover: Oak flooring in the living areas. Tile in the bathrooms,
Walls: Painted wood siding, cypress and pecky cypress walls.
Ceilings & Ceiling Height: Mixed vaulted and flat ceilings with painted or stained
wood trusses. / 9 to 14± feet
Lighting: A mix of track and incandescent lighting.
Restrooms: One restroom with vanity, commode and shower. One
restroom with separate vanity, commode and vanity.
MECHANICAL SYSTEMS
HVAC: None
Electrical: Assumed adequate
Plumbing Condition: On demand hot water heater. Reverse osmosis system.
Sprinkler: None
Elevators: None
Security: Private with gated entry off 40th Avenue SE
The former master bathroom was converted to a half bath with removal of tub/shower.
The property has no HVAC system. A mini split system can be installed for whole home
heating and cooling.
PARKING AND LANDSCAPING
Parking: Type: Gravel open surface parking
Number of Spaces: Assumed adequate
Condition: Average
Landscaping: The property has cleared to heavy vegetation. According
to a Conservation Collier Initial Criteria Screening
Report revised and dated March 6, 2024, the surveyed
area includes Cypress, Cypress Mixed Hardwoods,
Mixed Wetland Hardwoods, Mixed Shrub -Shrub
Wetland and Pine Flatwood. Lands covers include
Cypress/Tupelo Mixed and Mixed Wetland Hardwoods.
Approximately 50-65% of the plant communities within
the TPMA parcels are infested with invasive vegetation
– primarily Brazilian pepper. Other species of concern
include lantana, mission grass, cogon grass, and Boston
fern.
Page 1898 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 48
PROPERTY ANALYSIS
Design & Functional Utility: The overall design and utility of the building is adequate
for its current use.
Deferred Maintenance: There was no deferred maintenance noted on the date of
inspection.
Capital Improvements: We were not made aware of any planned capital
improvements.
Comments: The quality, maintenance, and overall appeal of the
subject are considered to be consistent with that of
competing properties.
Occupancy Status
The property is operated as the Gore Nature Center by Cypress Cove Conservancy, Inc .
Americans with Disabilities Act
There do not appear to be any ADA violations based on our inspection of the subject
property. However, we are not experts in matters pertaining to the Americans with
Disabilities Act and therefore recommend a further study to assess the ADA compliance.
Hazardous Substances
We were not provided with an environmental assessment report for the purpose of this
appraisal. Environmental and hazardous substance issues are beyond our scope of
expertise. Unless otherwise stated, we assume no hazardous conditions exist on or near
the subject.
Personal Property
The property includes certain personal property including newer Samsung French door
refrigerator, Samsung dishwasher, Samsung electric range with range hood and stack
washer/dryer.
Improvement Analysis Conclusion
The quality, maintenance, and overall appeal of the subject are considered to be
consistent with that of competing properties.
Page 1899 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 49
Improvements Plan – Collier County
Page 1900 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 50
Improvements Plan – Collier County
Page 1901 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 51
Improvement Photographs
View of south and west elevations
(Photo Taken on August 2, 2024)
South elevation
(Photo Taken on August 2, 2024)
Page 1902 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 52
Improvement Photographs
East elevation and entry
(Photo Taken on August 2, 2024)
North elevation
(Photo Taken on August 2, 2024)
Page 1903 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 53
Improvement Photographs
Underbuilding and pilings
(Photo Taken on August 2, 2024)
Underbuilding and pilings
(Photo Taken on August 2, 2024)
Page 1904 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 54
Improvement Photographs
Living room
(Photo Taken on August 2, 2024)
Master bedroom
(Photo Taken on August 2, 2024)
Page 1905 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 55
Improvement Photographs
Kitchen
(Photo Taken on August 2, 2024)
Kitchen
(Photo Taken on August 2, 2024)
Page 1906 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 56
Improvement Photographs
Dining room
(Photo Taken on August 2, 2024)
Utility room
(Photo Taken on August 2, 2024)
Page 1907 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 57
Improvement Photographs
Den
(Photo Taken on August 2, 2024)
Den
(Photo Taken on August 2, 2024)
Page 1908 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 58
Improvement Photographs
Den bathroom
(Photo Taken on August 2, 2024)
Den bathroom
(Photo Taken on August 2, 2024)
Page 1909 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 59
Improvement Photographs
Master bath
(Photo Taken on August 2, 2024)
Living room ceiling
(Photo Taken on August 2, 2024)
Page 1910 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 60
Improvement Photographs
Central clerestory
(Photo Taken on August 2, 2024)
Entry detail
(Photo Taken on August 2, 2024)
Page 1911 of 6405
CYPRESS COVE CONSERVANCY IMPROVEMENTS ANALYSIS
Page 61
Improvement Photographs
West side screened porch
(Photo Taken on August 2, 2024)
Deck off entry
(Photo Taken on August 2, 2024)
Page 1912 of 6405
CYPRESS COVE CONSERVANCY REAL ESTATE TAXES AND ASSESSMENTS
Page 62
REAL ESTATE TAXES AND ASSESSMENTS
The real estate tax assessment of the subject is administered by Collier County. In 2008,
Florida voters amended the Constitution to give non -homestead property owners some
protection against increases in their annual property tax assessments. As amended, the
Florida Constitution now prohibits the assessment of certain non -homestead property
from increasing by more than 10% per year. The 10% cap applies to most types of
commercial property, including non -homestead residential property (i.e. apartments and
other rental property) and nonresidential property (i.e. commercial property and vacant
land). The cap was set to expire on January 1, 2019; however, in November 2018 Florida
voters amended the Constitution to make the cap permanent. The protection of the 10%
cap is lost when there is a change of ownership or control.
The property tax identification number and assessed value of the property for tax year
2023 are as follows:
ASSESSED VALUES
Tax Identification Number 41501440005
Land Assessed Value $180,000
Building Assessed Value $229,760
10% Assessment Cap -$84,382
Total Assessed Value $325,378
Totals
Total Land Assessed Value $180,000
Total Building Assessed Value $229,760
10% Assessment Cap -$84,382
Total Assessment $325,378
Total Assessment per GLA $210.06
Rates, Taxes, More
Tax Rate 1.03235%
Ad Valorem Tax Amount $0.00
Special Assessment Amount $249.29
Special Assessment Comments District 1 Garbage
Total Tax Liability $249.29
Property Tax Comments The 2022 and 2023 taxes have been paid. The
property is owned and operated by a not for profit
and is tax exempt.
The tax assessment for subject property is currently $210.06 per square foot, or $264.53
per square foot excluding the assessment cap . Based on our valuation analysis, the
subject’s assessment appears low but reasonable.
Page 1913 of 6405
CYPRESS COVE CONSERVANCY HIGHEST AND BEST USE
Page 63
HIGHEST AND BEST USE
Highest and best use may be defined as :
The reasonably probable use of property that results in the highest value. The four
criteria the highest and best use must meet are legal permissibility, physical
possibility, financial feasibility, and maximum productivity. 1
▪ Physically possible for the land to accommodate the size and shape of the
ideal improvement.
▪ Legally permissible under the zoning regulations, building codes,
environmental regulations, and other restrictions that apply to the site. A
property use that is either currently allowed or most probably allowable.
▪ Financially feasible to generate sufficient income to support the use.
▪ Maximally productive, or capable of producing the highest value from
among the permissible, possible, and financially feasible uses.
Highest and Best Use As If Vacant
Physically Possible
The subject site is 10.00 acres or 435,600 square feet with 660 feet of frontage along 40th
Avenue SE (Two laned, asphalt, residential street). The physical characteristics of the
subject tract should reasonably accommodate any use that is not restricted by its size.
The subject's utilities are typical and adequate for the market area. The site is roughly
square.
The site is located in a FEMA flood zone AH area per FEMA Flood Map Number:
12021C 0445 H, dated May 16, 2012 , which is classified as a flood hazard area. Per the
wetlands mapper from U.S. Fish & Wildlife Service the property includes 10.00 acres of
Freshwater Forested/Shrub Wetlands.
There are no known physical reasons that would unusually restrict development. The site
is considered to have a functional utility suitable for a variety of uses.
Legally Permissible
The subject site is zoned Estates (E), which allows low density residential with limited
agricultural uses.
Permitted uses Includes single -family dwellings, family care facilities (subject to section
5.05.04), essential services (as set forth in section 2.01.03), and schools, public, including
educational plants.
1 The Dictionary of Real Estate Appraisal 7th ed. (Chicago: Appraisal Institute, 2022 )
Page 1914 of 6405
CYPRESS COVE CONSERVANCY HIGHEST AND BEST USE
Page 64
Recognizing the principle of conformity, we consider the prevailing land use patterns in
the area. Therefore, only single family residential uses are given further consideration in
determining the highest and best use of the site, as if vacant.
Financially Feasible
Financial feasibility is an analysis of the ability of a property to generate sufficient
income to support the use, or a reasonable probability of producing a positive income
stream net of operating expenses, financial costs, and capital amortization.
The projected growth in population and employment provide an economic base that
supports demand for real estate in the subject neighborhood and for the subject property.
These conditions have resulted in increasing property values and should stimulate
continued increases within the foreseeable future. Prior to the coronavirus pandemic, the
residential market had stabilized after several years of an expansion period, with
sustained growth in demand and increasing construction. Since the coronavirus
pandemic, residential demand increased significantly with record sales in 2020 and
continued high demand but limited inventory in 2021 and 2022. Inventory increased in
2023 and 2024 YTD as demand declined due to continued increases in interest rates.
Prices continue to increase; however, the rate of increase is declining.
On this basis, barring unforeseen changes in the market, a well -designed single family
product that is appropriately marketed and priced, should be received favorably by the
market.
Maximally Productive
The maximally productive land use yields the highest value of the possible uses. Single
family residential development is the only use that meets the tests of physically possible,
legally permissible, and financially feasible. Therefore, single family residential
development is concluded to be the maximally productive and highest and best use of the
site.
Highest and Best Use as Improved
As of the effective date of this appraisal, the existing improvements are operated as the
Gore Nature Center by Cypress Cove Conservancy, Inc. It is the former residence of Dr.
Robert Gore. The Cypress Cove Conservancy parcel is in the center of the Dr. Robert H.
Gore III Preserve. A continuation of the current use is concluded to be financially
feasible due to the quality, age and location of the improvements.
There are no apparent alternative uses that would indicate a higher present value that the
current use. Furthermore, the value of the existing improvements, as is, exceeds the value
of the site. Therefore, the highest and best use is as currently improved.
Most Probable Buyer
Considering the size, class, and location of the property, the most probable buyer is a n
owner-user.
Page 1915 of 6405
CYPRESS COVE CONSERVANCY VALUATION METHODOLOGY
Page 65
VALUATION METHODOLOGY
Three basic approaches may be used to arrive at an estimate of market value. They are:
1. The Cost Approach
2. The Sales Comparison Approach
3. The Income Approach
Cost Approach
The Cost Approach estimates the current cost to construct the existing structure including
an entrepreneurial incentive, depreciation, and the estimated land value. This approach is
particularly applicable when the improvements represent the highest and best use of the
land and are relatively new. It is also applicable when the property has unique or
specialized improvements for which there is little or no sales data from comparable
properties.
Sales Comparison Approach
The Sales Comparison Approach compares sales of similar properties with the subject
property. Each comparable sale is adjusted for its inferior or superior characteristics. The
values derived from the adjusted comparable sales form a range of value for the subject.
By process of correlation and analysis, a final indicated value is derived. This approach is
most reliable in an active market, and is leas t reliable when valuing a property for which
no direct comparable sales data is available.
Income Approach
The Income Approach converts the anticipated flow of future benefits (cash flows and
reversion) to a present value estimate through a capitalization and or a discounting
process. This approach generally reflects a typical investor’s perception of the
relationship between the potential income of a property and its market value.
Final Reconciliation
The appraisal process concludes with the Final Reconciliation of the values derived from
the approaches applied for a single estimate of market value. The reconciliation of the
approaches is based on an evaluation of the quantity and quality of the available data in
each approach. Furthermore, d ifferent properties require different means of analysis and
lend themselves to one approach over the others.
Page 1916 of 6405
CYPRESS COVE CONSERVANCY VALUATION METHODOLOGY
Page 66
ANALYSES APPLIED
A cost analysis was considered and was not developed because a typical buyer does not
utilize this valuation technique in the current economic environment except for build -to-
suit and special purpose properties.
A sales comparison analysis was considered and was developed because there is
adequate data to develop a value estimate and this approach reflects market behavior for
this property type.
An income analysis was considered and was not developed because while the subject
could generate an income stream, the most probable buyer is an owner -occupant.
Page 1917 of 6405
CYPRESS COVE CONSERVANCY SALES COMPARISON APPROACH
Page 67
SALES COMPARISON APPROACH
The Sales Comparison Approach is based on the premise that a buyer would pay no more
for a specific property than the cost of obtaining a property with the same quality, utility,
and perceived benefits of ownership. It is based on the principles of supply and demand,
balance, substitution and externalities. The following steps describe the applied process
of the Sales Comparison Approach.
• The market in which the subject property competes is investigated; comparable
sales, contracts for sale and current offerings are reviewed.
• The most pertinent data is further analyzed and the quality of the transaction is
determined.
• The most meaningful unit of value for the subject property is determined.
• Each comparable sale is analyzed and where appropriate, adjusted to equate with
the subject property.
• The value indication of each comparable sale is analyzed and the data reconciled
for a final indication of value via the Sales Comparison Approach.
Comparables
We have researched four comparables for this analysis . These are documented on the
following pages followed by a location map and analysis grid. All sales have been
researched through numerous sources, inspected and verified by a party to the
transaction. For this analysis, we use the overall sales price as the appropriate unit of
comparison because market participants typically compare sale prices and property
values on this basis.
Page 1918 of 6405
CYPRESS COVE CONSERVANCY SALES COMPARISON APPROACH
Page 68
Comp Address Price Price Per SF
Comp City Date
Rentable
Area
Subject 4261 40th Avenue SE
Subject Naples 8/2/2024 1,549
1 1415 Angela Road $367,000 $382.29
1 Naples 8/12/2022 960
2 1010 Keri Island Road $410,000 $406.75
2 Naples 5/4/2022 1,008
3 440 Golden Gate Boulevard West $450,000 $365.26
3 Naples 2/28/2023 1,232
4 3461 19th Avenue SW $500,000 $496.03
4 Naples 12/7/2023 1,008
Sale Comments
Listed at $450,000 on 12/14/2022. Pended on 1/11/2023. Upgrades include 2021
stainless steel appliances, AC replaced in July 2022, 2022 fresh paint and
blinds, beautiful pavered driveway, recently replaced Hardi board siding, tile
throughout a large privacy fence along the front of the property and separate
fencing on the right side of the property. 2 staircases, one on each side of the
home which leads to the upstairs living space and two separate entrances.
Home includes 2 bedrooms with den and 1 bath with 416 sf deck and 224 sf
covered porch. The septic and drainfield were replaced in 2018. No wetlands.
Lender is Cardinal Financial Company. Golden Gate Blvd. is four laned primary
arterial with median.
Listed at $525,000 on 11/21/2023 and pended same day. Home has new roof,
new wide plank LVT flooring throughout, new kitchen with white sparkle
quartz countertops, tile backsplash, stainless steel appliances, new feature
wall with wall mounted tv, new paint, trim, doors, lighting, fans, whole house
Reverse Osmosis system, new deck boards and railings, new fascia and soffit,
new electric gate opener, new landscaping, and new hot water heater. The
home is a 3 bedroom, 1 bath stilt home with a large lower level with full
bathroom, large carport, and storage area. Ground level includes 432 sf
enclosed storage area. Fenced yard. Lender is United Wholesale Mortgage,
LLC. Include .64 acres of Freshwater Forested/Shrub Wetlands. 19th Avenue
is a two laned, asphalt street.
Listed at $475,000 on 11/17/2021. Price decreases to $472,500 and $440,000 on
12/15/2021 and 2/4/2022 respectively. Pended on 2/9/2022 Back on market on
3/19/2022. Final pending on 3/25/2022. Property includes 1,008 leasable area
with 192 square foot front porch. 3 bedrooms and 3 baths. Ground floor
includes some siding. Includes 51,400± square feet of Freshwater
Forested/Shrub Wetlands. Lender is United Wholesale Mortgage, LLC. Keri
Island is a one laned, gravel, private road.
Listed at $425,000 on 7/22/2022. Pended on 7/28/2022. Private Elevated Stilt
Home on just under 9.5 Acres in Naples. Zoned Agricultural. Includes gazebo,
2 older sheds, and an older chicken coop. First floor includes 960 square feet
with kitchen, living room, three bedrooms, utility room and one bath. Screened
porch at 192 square feet. Ground level is enclosed with concrete block and
includes one overhead door. Includes 1.96 acres of Freshwater Emergent
Wetlands. Angela Road is a one laned, private dirt road.
Page 1919 of 6405
CYPRESS COVE CONSERVANCY SALES COMPARISON APPROACH
Page 69
Comparables Map
Page 1920 of 6405
CYPRESS COVE CONSERVANCY SALES COMPARISON APPROACH
Page 70
Analysis Grid
The above sales have been analyzed and compared with the subject property. We have
considered adjustments in the areas of:
Effective Sale Price
This takes into consideration unusual conditions involved in the sale
that could affect the sales price, such as excess land, non -realty
components, commissions, or other similar factors. Usually the sale
price is adjusted for this prior to comparison to the subject.
Real Property Rights Property rights dissimilar to the subject which affect value.
Financing Terms
Favorable or unfavorable seller financing, or assumption of existing
financing.
Conditions of Sale
Circumstances that atypically motivate the buyer or seller, such as
1031 exchange transaction, assemblage, or forced sale.
Market Conditions Inflation or deflation since sale date due to economic influences
Location Market or submarket area influences on sale price; surrounding land
use influences.
Physical Characteristics Attributes such as size, shape, utilities, frontage, zoning, etc.
Age/Condition Attributes such as size, shape, age, number of stories, etc.
Economic Characteristics Material differences between the subjects’ net operating income and
the net operating income of the comparables on a per unit basis.
On the following page is a sales comparison grid displaying the subject property, the
comparables and the adjustments applied.
Page 1921 of 6405
CYPRESS COVE CONSERVANCY SALES COMPARISON APPROACH
Page 71
Comparable Sale Adjustments
All comparables are stilt homes on acreage in Golden Gates Estates or rural Collier
County.
Property Rights
All of the comparables transferred in fee simple interest; therefore, no adjustments for
property rights are required.
Financing
All of the comparable sales had market orientated financing or were cash transactions;
therefore, no adjustments for financing are required.
Name
Address
City
Date
Price
Rentable Area
Rentable Area Unit Price
Property Rights Fee Simple 0.0%Fee Simple 0.0%Fee Simple 0.0%Fee Simple 0.0%
Financing Cash sale 0.0%VA at $357,600 0.0%VA @ $441,849 0.0%Conventional
@ $475K 0.0%
Conditions of Sale Arm's length 0.0%Arm's length 0.0%Arm's length 0.0%Arm's length 0.0%
Market Trends Through 8/2/2024 10.0%
Location
% Adjustment
$ Adjustment
Rentable Area
$ Adjustment
Year Built
% Adjustment
$ Adjustment
Condition
% Adjustment
$ Adjustment
Bedrooms/Baths
$ Adjustment
Acres
$ Adjustment
Flood Zone
% Adjustment
$ Adjustment
Net Adjustments
Gross
3461 19th Avenue SW
Comp 3
1010 Keri Island Road
Comp 1 Comp 2
70.3%
1984
Good
$77,337
-$51,558
$66,454
$0.00
Average; Recent
Remodel
15%
$0.00
$0$0
3/1
58.4%
-$15,000
50.3%
Zones AH and X per
FIRM 12021C 0430 H
$8,182
$747,319
10.00 9.55
$0
AH
-10%
$108,200
-$53,220
$157,500 $142,560
Golden Gate Estates
$66,454
15%
20.7%
Average
15%
Average
1+Den/1.5 3/1
23.9%
Golden Gate Estates Golden Gate Estates
$532,199
$500,000
$508,030 $515,580
$450,000
$443,028
0%
1,008
10%
$53,220
$0.00
2+Den/1
$76,204
$0.00
Average
2.081.25
3/2
$496.03
6.4%14.6%
$365.26
1,0081,232
440 Golden Gate
Boulevard West
1010 Keri Island Road
440 Golden Gate
Boulevard West
Naples Naples
$367,000 $410,000
$406.75$382.29
Transaction Adjustments
$450,000
Naples
$410,000
2/28/2023
$500,000
5/4/2022
3461 19th Avenue SW
Cypress Cove
Conservancy
Analysis Grid
1415 Angela Road
NaplesNaples
1415 Angela Road
4261 40th Avenue SE
Comp 4
8/12/2022
Golden Gate Estates
1,549 960 1,008 1,232
-10%
Adjusted Rentable Area Unit Price
0%15%
Corkscrew
$0
Adjusted Rentable Area Unit Price
Fee Simple
1983
$108,200 $63,400
0%
1988
$117,800
1976
0%
1982
0%
$0.00
58.4%
$701,918
70.3%
64.3%
$0.00
Adjusted Rentable Area Unit Price $834,934
Zone AH per FIRM
12021C 0115 H
Zone AH per FIRM
12021C 0219 H
0%0%
64.9%
44.9%
$799,944
0%
$0.00$0.00
1.14
0%
$159,546
Zone AH per FIRM
12021C 0410 H
12/7/20238/2/2024
$367,000
1,549 960 1,008
Page 1922 of 6405
CYPRESS COVE CONSERVANCY SALES COMPARISON APPROACH
Page 72
Conditions of Sale
All of the comparable sales were arm’s length transactions; therefore, no adjustments for
conditions of sale are required.
Economic Trends
The following graph developed from CoStar shows single family home sales in Golden
Gate Estates and nearby rural Collier County since January 1, 2022. The survey was
limited to homes between 1,000 and 2,000 square feet and built between 170 and 1990.
Certain outliers were excluded.
The survey included 164 transactions. The sales ranged from 1,000 to 2,000 square feet
and averaged 1,457 square feet with a standard deviation of 274 square feet . Prices per
square foot ranged from $197 to $539 per square foot and averaged $349 psf with a
standard deviation of $67 psf. Years built ranged from 1974 to 1990 and averaged 1985
with a standard deviation of 3.90 years . The graph indicates an increasing trend in sales
prices from January 2022 through the current date. However, it is noted this is unadjusted
raw data and does not relate directly to the subject.
The analyses and value opinion in this appraisal are based on the data available to the
appraiser at the time of the assignment and apply only as of the effective date indicated.
No analyses or opinions contained in this appraisal should be construed as predictions of
future market conditions or value. The significant residential demand since the pandemic
has generally stabilized the commercial market overall with an increased demand and
significant price increases for the industrial sector and select retail and office properties.
Based on the previous analysis, we have applied a 10.0% annual adjustment.
Location
The following table summarizes the population growth , average household income and
average home value within a two mile radius.
Page 1923 of 6405
CYPRESS COVE CONSERVANCY SALES COMPARISON APPROACH
Page 73
Comparable 1 is located north of Immokalee Road in a rural area of the Corkscrew
Planning District. Comparables 2 through 4 are located in an area more known as Golden
Gate Estates. Comparable 2 is in an area though not platted as part of Golden Gate
Estates. The subject and Comparable 1 are furthest for population centers, employment,
entertainment and shopping.
Subject and Comparable 2 are rural in location with the smallest population densities.
Comparable 4 has the densest population due to its proximity to Golden Gate City.
Comparable 1 has the lowest household incomes. Comparable 4 is again influenced by its
proximity to Golden Gate City. Comparables 2 and 3 have superior household incomes.
Generally, the subject area has the lowest housing values.
The subject and Comparables 4 are located on two laned, paved residential streets in
Golden Gate Estates. Comparable 3 is located on the primary east/west arterial in Golden
Gate Estates. Comparables 1 and 2 are located on private roads. Comparables 1 is
accessed by a one laned dirt road. Comparable 2 is accessible by a maintained gravel
road.
All comparables are evaluated and adjusted for accordingly.
Subject Comp 1 Comp 2 Comp 3 Comp 4
Address 4261 40th
Avenue SE
1415 Angela
Road
1010 Keri
Island Road
440 Golden
Gate Boulevard
West
3461 19th
Avenue SW
City Naples Naples Naples Naples Naples
2024 Population 1,538 639 6,870 4,826 18,728
2029 Population 1,742 809 7,400 5,071 18,428
% Change 13.26%26.60%7.71%5.08%-1.60%
Avg Household Income $108,434 $84,603 $139,330 $136,975 $98,424
Average Housing Value $461,267 $649,228 $795,437 $658,087 $583,841
Median Housing Value $424,453 $454,167 $636,199 $603,415 $470,591
Source: STDB Online
Locational Adjustment - Site to Do Business (2 Mile Radius)
Page 1924 of 6405
CYPRESS COVE CONSERVANCY SALES COMPARISON APPROACH
Page 74
Rentable Area
This adjustment reflects differences in size. The following was developed from the Trend
Analysis survey.
The average unadjusted price per square foot for the comparables is $412 psf. As the
subject is larger than the comparables, the following size adjustment is made at $200 psf.
All comparables are evaluated and adjusted for accordingly.
Age
This adjustment reflects differences in age . For this analysis, all of the comparable sales
are relatively similar in terms of age; therefore, no adjustments are required.
Condition
This adjustment reflects differences in condition. The subject property has a superior
elevation and finishes including hardwood flooring, exposed vaulted ceilings and cypress
trim work. The comparables are generally average quality, single family residences with
no distinguishable features. Comparable 4 was recently remodeled.
All comparables are evaluated and adjusted for accordingly.
Bedroom/Baths
The subject was previously a one-bedroom with den with two full baths. One bath has
had the tub removed and replaced with a second vanity .
All comparables are evaluated and adjusted for accordingly.
Page 1925 of 6405
CYPRESS COVE CONSERVANCY SALES COMPARISON APPROACH
Page 75
Site Acres
The subject and all comparables are on acreage lots. The following are recent lot sales
and listings in Golden Gate Estates.
Comparables 1, 3, 4, 5, and 6 are located in Golden Gate Estates, like subject.
Comparable 2 is located in the North Belle Meade. Comparables 1, 3 and 4 are located on
paved roads, like subject. Listings 5 and 6 are located on a gravel road accessed from
Everglades Blvd. Comparable 2 is accessed from Lamb Lane via Benton Road. Both are
dirt roads. Comparable 3 through 6 consist nearly entirely of wetlands. Co mparable 2 is
40%± wetlands while Comparable 1 had minimal exposure. Comparable 3 had a 40’
apron and pipe culvert in place ready for a driveway. Comparable 6 also backs to the
Fakah Union Canal.
We consider the contributory value of the subject acreage above the more traditional
large lot size in Golden Gate Estates at 2.5 acres. We also consider that the subject is
Comparable Address MLS No. Sale Date Sale /List
Price Acerage Price / Acre
1 Everglades and 28th Ave SE 222065995 7/18/2024 $180,000 5.00 $36,000
2 2521 Woodland Grade 223085550 2/13/2024 $150,000 5.00 $30,000
3 4710 4th Avenue SE 223056000 4/9/2024 $120,000 5.00 $24,000
4 30th Avenue SE 223026526 2/15/2024 $115,000 5.00 $23,000
5 42nd Avenue SE 223073691 Listing $195,000 6.70 $29,104
6 42nd Avenue SE 224037426 Listing $279,900 6.84 $40,921
Page 1926 of 6405
CYPRESS COVE CONSERVANCY SALES COMPARISON APPROACH
Page 76
100% wetlands. In the following analysis, we have adjusted for the additional acreage at
$18,000/acre.
Flood Zone
Subject and all comparables are located in impacted flood zones. No adjustment is
indicated.
Sales Comparison Approach Conclusion
All of the value indications have been considered in arriving at our final reconciled value
of $750,000. Additionally, we have adjusted for the costs and incentive of installing a
mini split system in the subject property.
4 % Δ
91.26%
66.99%
78.58%Average:$431,750
Value Ranges & Reconciled Values
$500,000
Low:$701,918
$834,934
$771,029
$750,000
-$30,000
Indicated Value:
Reconciled Value/Unit Value:
Cost for HVAC Installation:
Number of Comparables:Adjusted
$367,000
$720,000
High:
Unadjusted
Page 1927 of 6405
CYPRESS COVE CONSERVANCY RECONCILIATION
Page 77
RECONCILIATION
The process of reconciliation involves the analysis of each approach to value. The
quantity and quality of data applied the significance of each approach as it relates to
market behavior and defensibility of each approach are considered and weighed. Finally,
each is considered separately and comparatively with each other.
Value Indications
Cost Approach: Not Developed
Sales Comparison Approach: $720,000
Income Approach: Not Developed
Cost Approach
A cost analysis was considered and was not developed because a typical buyer does not
utilize this valuation technique in the current economic environment except for build -to-
suit and special purpose properties.
Sales Comparison Approach
The sales comparison approach is most reliable in an active market when an adequate
quantity and quality of comparable sales data are available. Typically, this is the most
relevant method for owner-user properties, because it directly considers the prices of
alternative properties with similar utility for which potential buyers would be competing.
The subject property is a former residence now operated as a not for profit nature center.
The property can be best marketed as a residence. The analysis and adjustment of the
sales provides a reasonably narrow range of value indications. While it does not directly
account for the income characteristics of the subject, this approach is given sole weight.
Income Approach
The income approach is usually given greatest weight when evaluating investment
properties. The value indication from the income approach is supported by market data
regarding income, expenses and required rates of return.
An income analysis was considered and was not developed because while the subject
could generate an income stream, the most probable buyer is an owner -occupant.
Page 1928 of 6405
CYPRESS COVE CONSERVANCY RECONCILIATION
Page 78
Value Conclusion
Based on the data and analyses developed in this appraisal, we have reconciled to the
following value conclusion(s), as of August 2, 2024 , subject to the Limiting Conditions
and Assumptions of this appraisal.
VALUE C ONCLUSIONS
Appraisal Premise Interest Appraised Date of Value Value Conclusion
Market Value, As Is Fee Simple August 2, 2024 $720,000
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions: None.
Extraordinary Assumptions: Conservation Collier supplied these appraisers with an
Initial Criteria Screening Report dated August 3, 2022 with
revisions on August 26, 2022, February 7, 2024 and March
6, 2024. The screening report was prepared for seven
parcels at 20.77 acres including the subject property. We
have assumed that the information supplied in the report is
generally similar for all the seven tracts.
Exposure and Marketing Times
Exposure time is always presumed to precede the effective date of the appraisal and is the
length of time the subject property would have been exposed for sale in the market had it
sold on the effective valuation date at the concluded market value. Marketing time is an
estimate of the amount of time it might take to sell a property at the estimated market
value immediately following the effective date of value.
Based on our review of recent sales transactions for similar properties and our analysis of
supply and demand in the local market it is our opinion that the probable marketing and
exposure time for the property is 12 months.
Page 1929 of 6405
CYPRESS COVE CONSERVANCY CERTIFICATION
Page 79
CERTIFICATION
We certify that, to the best of our knowledge and belief:
1. The statements of fact contained in this report are true and correct.
2. The reported analyses, opinions and conclusions are limited only by the reported
assumptions and limiting conditions, and are our personal, unbiased professional
analyses, opinions and conclusions.
3. We have no present or prospective interest in the property that is the subject of this
report, and have no personal interest with respect to the parties involved.
4. We have no bias with respect to the property that is the subject of this report or to
the parties involved with this assignment.
5. Our engagement in this assignment was not contingent upon developing or
reporting predetermined results.
6. Our compensation for completing this assignment is not contingent upon the
development or reporting of a predetermined value or direction in value that favors
the cause of the client, the amount of the value opinion, the attainment of a
stipulated result, or the occurrence of a subsequent event directly related to the
intended use of this appraisal.
7. The reported analyses, opinions, and conclusions were developed, and this report
has been prepared, in conformity with the requirements of the Code of Professional
Ethics & Standards of Professional Appraisal Practice of the Appraisal Institute.
8. My reported analyses, opinions, and conclusions were developed, and this report
has been prepared, in conformity with the Uniform Standards of Professional
Appraisal Practice
9. The use of this report is subject to the requirements of the Appraisal Institute
relating to review by its duly authorized representatives.
10. K. C. Lowry, MAI, CPA has made a personal inspection of the subject property.
Rachel M. Zucchi, MAI, CCIM has not made a personal inspection of the subject
property.
11. No one provided significant real property appraisal assistance to the person signing
this certification.
12. We have experience in appraising properties similar to the subject and are in
compliance with the Competency Rule of USPAP.
Page 1930 of 6405
CYPRESS COVE CONSERVANCY CERTIFICATION
Page 80
13. This appraisal is not based on a requested minimum valuation, a specific valuation,
or the approval of a loan.
14. We have not relied on unsupported conclusions relating to characteristics such as
race, color, religion, national origin, gender, marital status, familial status, age,
receipt of public assistance income, handicap, or an unsupported conclusion that
homogeneity of such characteristics is necessary to maximize value.
15. K. C. Lowry, MAI, CPA and Rachel M. Zucchi, MAI, CCIM have not performed
any services, as an appraiser or in any other capacity, regarding the property that is
the subject of this report within the three -year period immediately preceding the
agreement to perform this assignment.
16. As of the date of this report, K. C. Lowry, MAI, CPA and Rachel M. Zucchi, MAI,
CCIM have completed the continuing education program for Designated Members
of the Appraisal Institute.
K. C. Lowry, MAI, CPA
Florida State -Certified General Real Estate Appraiser RZ2355
klowry@rklac.com; Phone 239-596-0802
Rachel M. Zucchi, MAI, CCIM
Florida State -Certified General Real Estate Appraiser RZ2984
rzucchi@rklac.com; Phone 239-596-0801
Page 1931 of 6405
CYPRESS COVE CONSERVANCY ASSUMPTIONS AND LIMITING CONDITIONS
Page 81
ASSUMPTIONS AND LIMITING CONDITIONS
This appraisal is based on the following assumptions, except as otherwise noted in the
report.
1. The title is marketable and free and clear of all liens, encumbrances,
encroachments, easements and restrictions. The property is under responsible
ownership and competent management and is available for its highest and best
use.
2. There are no existing judgments or pending or threatened litigation that could
affect the value of the property.
3. There are no hidden or undisclosed conditions of the land or of the improvements
that would render the property more or less valuable. Furthermore, there is no
asbestos in the property.
4. The revenue stamps placed on any deed referenced herein to indicate the sale
price are in correct relation to the actual dollar amount of the transaction.
5. The property is in compliance with all applicable building, environmental, zoning,
and other federal, state and local laws, regulations and codes.
6. The information furnished by others is believed to be reliable, but no warranty is
given for its accuracy.
This appraisal is subject to the following limiting conditions, except as otherwise
noted in the report.
1. An appraisal is inherently subjective and represents our opinion as to the value of
the property appraised.
2. The conclusions stated in our appraisal apply only as of the effective date of the
appraisal, and no representation is made as to the effect of subsequent events.
3. No changes in any federal, state or local laws, regulations or codes (including,
without limitation, the Internal Revenue Code) are anticipated.
4. No environmental impact studies were either requested or made in conjunction
with this appraisal, and we reserve the right to revise or rescind any of the value
opinions based upon any subsequent environmental impact studies. If any
environmental impact statement is required by law, the appraisal assumes that
such statement will be favorable and will be approved by the appropriate
regulatory bodies.
5. Unless otherwise agreed to in writing, we are not required to give testimony,
respond to any subpoena or attend any court, governmental or other hearing with
reference to the property without compensation relative to such additional
employment.
6. We have made no survey of the property and assume no responsibility in
connection with such matters. Any sketch or survey of the property included in
this report is for illustrative purposes only and should not be considered to be
Page 1932 of 6405
CYPRESS COVE CONSERVANCY ASSUMPTIONS AND LIMITING CONDITIONS
Page 82
scaled accurately for size. The appraisal covers the property as described in this
report, and the areas and dimensions set forth are assumed to be correct.
7. No opinion is expressed as to the value of subsurface oil, gas or mineral rights, if
any, and we have assumed that the property is not subject to surface entry for the
exploration or removal of such materials, unless otherwise noted in our appraisal.
8. We accept no responsibility for considerations requiring expertise in other fields.
Such considerations include, but are not limited to, legal descriptions and other
legal matters such as legal title, geologic considerations such as soils and seismic
stability, and civil, mechanical, electrical, structural and other engineering and
environmental matters.
9. The distribution of the total valuation in the report between land and
improvements applies only under the reported highest and best use of the
property. The allocations of value for land and improvements must not be used in
conjunction with any other appraisal and are invalid if so used. The appraisal
report shall be considered only in its entirety. No part of the appraisal report shall
be utilized separately or out of context.
10. Neither all nor any part of the contents of this report (especially any conclusions
as to value, the identity of the appraisers, or any reference to the Appraisal
Institute) shall be disseminated through advertising media, public relations media,
news media or any other means of communication (including without limitation
prospectuses, private offering memoranda and other offering material provided to
prospective investors) without the prior written consent of the person signing the
report.
11. Information, estimates and opinions contained in the report, obtained from third -
party sources are assumed to be reliable and have not been independently verified.
12. Any income and expense estimates contained in the appraisal report are used only
for the purpose of estimating value and do not constitute predictions of future
operating results.
13. If the property is subject to one or more leases, any estimate of residual value
contained in the appraisal may be particularly affected by significant changes in
the condition of the economy, of the real estate industry, or of the appraised
property at the time these leases expire or otherwise terminate.
14. No consideration has been given to personal property located on the premises or
to the cost of moving or relocating such personal property; only the real property
has been considered.
15. The current purchasing power of the dollar is the basis for the value stated in our
appraisal; we have assumed that no extreme fluctuations in economic cycles will
occur.
16. The value found herein is subject to these and to any other assumptions or
conditions set forth in the body of this report but which may have been omitted
from this list of Assumptions and Limiting Conditions.
Page 1933 of 6405
CYPRESS COVE CONSERVANCY ASSUMPTIONS AND LIMITING CONDITIONS
Page 83
17. The analyses contained in the report necessarily incorporate numerous estimates
and assumptions regarding property performance, general and local business and
economic conditions, the absence of material changes in the competitive
environment and other matters. Some estimates or assumptions, however,
inevitably will not materialize, and unanticipated events and circumstances may
occur; therefore, actual results achieved during the period covered by our analysis
will vary from our estimates, and the variations may be material.
18. The Americans with Disabilities Act (ADA) became effective January 26, 1992.
We have not made a specific survey or analysis of any property to determine
whether the physical aspects of the improvements meet the ADA accessibility
guidelines. In as much as compliance matches each owner’s financial ability with
the cost to cure the non -conforming physical characteristics of a property, we
cannot comment on compliance to ADA . Given that compliance can change with
each owner’s financial ability to cure non -accessibility, the value of the subject
does not consider possible non -compliance. A specific study of both the owner’s
financial ability and the cost to cure any deficiencies would be needed for the
Department of Justice to determine compliance.
19. The appraisal report is prepared for the exclusive benefit of the Client, its
subsidiaries and/or affiliates. It may not be used or relied upon by any other party.
All parties who use or rely upon any information in the report without our written
consent do so at their own risk.
20. No studies have been provided to us indicating the presence or absence of
hazardous materials on the subject property or in the improvements, and our
valuation is predicated upon the assumption that the subject property is free and
clear of any environment hazards including, without limitation, hazardous wastes,
toxic substances and mold. No representations or warranties are made regarding
the environmental condition of the subject property and the person signing the
report shall not be responsible for any such environmental conditions that do exist
or for any engineering or testing that might be required to discover whether such
conditions exist. Because we are not experts in the field of environmental
conditions, the appraisal report cannot be considered as an environmental
assessment of the subject property.
21. The person signing the report may have reviewed available flood maps and may
have noted in the appraisal report whether the subject property is located in an
identified Special Flood Hazard Area. We are not qualified to detect such areas
and therefore do not guarantee such determinations. The presence of flood plain
areas and/or wetlands may affect the value of the property, and the value
conclusion is predicated on the assumption that wetlands are non -existent or
minimal.
22. RKL Appraisal and Consulting, PLC is not a building or environmental inspector.
RKL Appraisal and Consulting, PLC does not guarantee that the subject property
is free of defects or environmental problems. Mold may be present in the subject
property and a professional inspection is recommended.
Page 1934 of 6405
CYPRESS COVE CONSERVANCY ASSUMPTIONS AND LIMITING CONDITIONS
Page 84
23. The appraisal report and value conclusion for an appraisal assumes the
satisfactory completion of construction, repairs or alterations in a workmanlike
manner.
24. The intended use of the appraisal is stated in the General Information section of
the report. The use of the appraisal report by anyone other than the Client is
prohibited except as otherwise provided. Accordingly, the appraisal report is
addressed to and shall be solely for the Client’s use and benefit unless we provide
our prior written consent. We expressly reserve the unrestricted right to withhold
our consent to your disclosure of the appraisal report (or any part thereof
including, without limitation, conclusions of value and our identity), to any third
parties. Stated again for clarification, unless our prior written consent is obtained,
no third party may rely on the appraisal report (even if their reliance was
foreseeable).
25. All prospective value estimates presented in this report are estimates and forecasts
which are prospective in nature and are subject to considerable risk and
uncertainty. In addition to the contingencies noted in the preceding paragraph,
several events may occur that could substantially alter the outcome of our
estimates such as, but not limited to changes in the economy, interest rates, and
capitalization rates, behavior of consumers, investors and lenders, fire and other
physical destruction, changes in title or conveyances of easements and deed
restrictions, etc. It is assumed that conditions reasonably foreseeable at the present
time are consistent or similar with the future.
Page 1935 of 6405
CYPRESS COVE CONSERVANCY ADDENDA - APPRAISER QUALIFICATIONS
ADDENDA
Page 1936 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM A - APPRAISER QUALIFICATIONS
ADDENDUM A
APPRAISER QUALIFICATIONS
Page 1937 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM A - APPRAISER QUALIFICATIONS
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
RKL Appraisal and Consulting, PLC
COMPANY PROFILE:
RKL Appraisal and Consulting, PLC was founded in 2009 by three designated Members
of the Appraisal Institute. It is our mission to maximize our combined appraisal
experience to provide our clients with the highest quality of Real Estate Appraisal and
Consulting Services.
Rachel M. Zucchi, MAI, CCIM K.C. Lowry, MAI, CPA Louis C. Bobbitt, MAI
Partner / Managing Director Partner Senior Partner (Retired)
rzucchi@rklac.com klowry@rklac.com lbobbitt@rklac.com
BUSINESS FOCUS:
Practice is focused on community/neighborhood shopping centers, retail and office
buildings, industrial warehouse/distribution buildings, residential and commercial
condominium and subdivision projects, hotels and motels, vacant land and special
purpose properties. Specialized services include appraisal review, business valuations,
market feasibility studies, acquisition/disposition counseling, and litigation support in
connection with real estate transactions including bankruptcy, eminent domain, estate
valuations, and matrimonial and equitable distribution . Clients served include banks and
financial institutions, developers and investors, law firms, go vernment, and property
owners.
Page 1938 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM A - APPRAISER QUALIFICATIONS
PROFESSIONAL QUALIFICATIONS OF
KENNETH C. LOWRY, MAI, CPA
REAL ESTATE
EXPERIENCE:
RKL APPRAISAL AND CONSULTING, PLC
Naples, Florida
Partner (2009 – Present)
INTEGRA REALTY RESOURCES – SOUTHWEST FLORIDA - NAPLES
Naples, Florida
Senior Real Estate Analyst (1996 – 2009)
STEVEN GRAVES ASSOCIATES
Greenwood, Indiana
Fee Appraiser (1994 – 1996)
AVL APPRAISAL SERVICES, INC.
Greenwood, Indiana
Appraiser/Vice President (1991 – 1996)
AMERICAN COMMUNITY DEVELOPMENT CORPORATION
Indianapolis, Indiana
Controller (1990 – 1991)
MANSUR DEVELOPMENT, INC.
Indianapolis, Indiana
Senior Accountant (1988 – 1990)
PROFESSIONAL
ACTIVITIES:
Member:
Licensed:
Licensed:
Appraisal Institute – MAI Certificate No. 12501
Florida State Certified General Real Estate Appraiser
License No. RZ 2355
Indiana State – Certified Public Accountant #CPO8800355
EXPERT WITNESS: Qualified as an expert witness in the Twentieth Judicial Circuit Court of Collier
County, Lee County, and Charlotte County
EDUCATION: Bachelor of Science-1981; Indiana University–Bloomington; School of Business;
Accounting Major.
Successfully completed numerous real estate and business valuation courses and
seminars sponsored by the Appraisal Institute, Institute of Business Appraisers,
accredited universities and others.
BUSINESS FOCUS: Actively engaged in real estate valuation and consulting since the early 1990’s.
Practice is focused on community/neighborhood shopping centers, power centers,
office buildings, warehouse/distribution, multi-family, condominium projects, hotels
and motels, vacant land and special purpose properties. Specialized services include
appraisals, business valuations, market feasibility studies, and litigation support in
connection with real estate transactions. Clients served include banks and financial
institutions, developers and investors, law firms, business/industry and government,
and mortgage bankers. Valuations have been performed for condemnation purposes,
estate, financing, and due diligence support.
Page 1939 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM A - APPRAISER QUALIFICATIONS
Page 1940 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM A - APPRAISER QUALIFICATIONS
PROFESSIONAL QUALIFICATIONS OF
Rachel M. Zucchi, MAI, CCIM
EXPERIENCE: Partner / Managing Director of RKL Appraisal and Consulting, PLC
Naples, FL (2009 – Present)
President of D&R Realty Group, Inc.
Naples, FL (2009 – Present)
Senior Real Estate Analyst, Integra Realty Resources – Southwest Florida
Naples, FL (2003 – 2009)
Research Associate, Integra Realty Resources – Southwest Florida
Naples, FL (2002-2003)
PROFESSIONAL
ACTIVITIES:
Member:
President:
VP/Secretary/Treasurer:
Region X Representative:
Board of Directors:
Government. Relations:
Prof. Standards &
Guidance:
LDAC Attendee:
Member:
Member:
Licensed:
Licensed:
Appraisal Institute – MAI Certificate Number 451177
Appraisal Institute Florida Gulf Coast Chapter (2020)
Appraisal Institute Florida Gulf Coast Chapter (2017 - 2019)
Appraisal Institute Florida Gulf Coast Chapter (2017 - 2022)
Appraisal Institute Florida Gulf Coast Chapter (2015 - 2021)
Appraisal Institute National (2022)
Appraisal Institute National (2023-2024)
Leadership Development & Advisory Council
Appraisal Institute - Washington, D.C. (2016 , 2017, 2018)
CCIM Institute - CCIM Designation Pin Number 21042
Naples Area Board of REALTORS
Florida State Certified General Real Estate Appraiser
License No. RZ 2984
Real Estate Broker (Florida)
License No. BK3077672
EXPERT WITNESS: Qualified as an expert witness in the Twentieth Judicial Circuit Court of Collier County
and Lee County
EDUCATION: Bachelor of Arts, Major in Economics
Florida Gulf Coast University, 2002
Graduated Magna Cum Laude
Presented at Eastern Economic Association Conference
Successfully completed real estate and valuation courses and seminars sponsored by the
Appraisal Institute and others.
BUSINESS FOCUS: Actively engaged in real estate valuation and consulting since 2003. Practice is focused on
community/neighborhood shopping centers, retail and office buildings, industrial
warehouse/distribution, multi-family and single-family subdivisions, condominium
developments, hotels/motels, vacant land and special purpose properties. Specialized
services include market feasibility studies and litigation support in connection with real
estate transactions. Clients served include banks and financial institutions, developers and
investors, law firms, government, and property owners. Valuations have been performed for
eminent domain , bankruptcy, estate, matrimonial/equitable distribution, financing, and due
diligence support.
Page 1941 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM A - APPRAISER QUALIFICATIONS
Page 1942 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM B - FINANCIALS AND PROPERTY INFORMATION
ADDENDUM B
FINANCIALS AND PROPERTY INFORMATION
Page 1943 of 6405
$ 203,000
$ 0
$ 18,500
$ 0
$ 140,000
$ 207,050
$ 347,050
$ 347,050
$ 0
$ 0
$ 0
$ 249.29
$ 249.29
Collier County Property AppraiserProperty Summary
Parcel ID 41501440005 Site Address*Disclaimer 4261 40TH AVE SE Site City NAPLES Site Zone*Note 34117
Name / Address CYPRESS COVE CONSERVANCY INC
PO BOX 110308
City NAPLES State FL Zip 34108
Map No.Strap No.Section Township Range Acres *Estimated
4D33 354100 18 04D33 33 49 28 10
Legal GOLDEN GATE EST UNIT #91 ALL OF TR 15 & TR 18, OR 1229 PG 856
Millage Area 80 Millage Rates *Calculations
Sub./Condo 354100 - GOLDEN GATE EST UNIT 91 School Other Total
Use Code 1 - SINGLE FAMILY RESIDENTIAL 4.3132 6.0103 10.3235
Latest Sales History
(Not all Sales are listed due to Confidentiality)
Date Book-Page Amount
06/07/19 5642-3277
09/09/09 4492-4
11/03/86 1229-856
04/01/76 647-1622
2024 Preliminary Tax Roll
(Subject to Change)
Land Value
(+) Improved Value
(=) Market Value
(=) Assessed Value
(=) School Taxable Value
(=) Taxable Value
Ad Valorem Taxes
(+) Non-Ad Valorem Taxes
(=) Total Taxes
Values are as of January 1st each year. If all values are 0, this parcel was created after the Final TaxRoll.
Disclaimer: The actual total property taxes may vary due to changes in millage rates set by taxingauthorities, the addition of non-ad valorem assessments, and special assessments. For the mostaccurate and up-to-date tax information, please visit the Collier County Tax Collector's office to seethe final Tax bills.
8/24/24, 1:53 PM Details
https://www.collierappraiser.com/main_search/recorddetail.html?sid=&Map=No&FolioNum=41501440005 1/1Page 1944 of 6405
Pay in U.S. Funds Drawn on a U.S. Bank To:Collier County Tax Collector3291 E. Tamiami TrailNaples, FL 34112-5758
POST DATED CHECKS ARE NOT ACCEPTED AND WILL BE RETURNED
Visit our website: www.colliertaxcollector.com
Legal Description
Combined Ad Valorem and Non-Ad Valorem TotalSee reverse side for important information
Assessed Value District Mill Rate Assessed Value Exempt Amt Taxable Value Tax Amount
Parcel Number Legal Description Mill Code Escrow Code
PleaseRetainthisportionfor yourrecords
Exemptions
Millage Total Total Ad Valorem
Non-Ad Valorem District Type of Assessment Amount
Non-Ad Valorem Total
(Detach and Return with your Payment)
Parcel Number Mill Code Escrow Code
Rob Stoneburner
Amount Paid to Date:
325,378
$249.29
Please Pay
Please Pay
$0.00
$0.00
If Paid By
If Paid By
CONSERVATION COLLIER
$249.29
C.C. WATER POLLUTION CTRL PGM
COLLIER MOSQUITO CONTROL
SCHOOL BOARD - LOCAL BOARD
UNINCORP GEN - MSTD
GREATER NAPLES FIRE RESCUE DIS
WATER MANAGEMENT FUND-SOUTH FL
GENERAL FUND
SCHOOL BOARD - STATE LAW
11/06/2023
BIG CYPRESS BASIN
2023 Paid Collier County Notice of Ad Valorem Taxes and Non-Ad Valorem Assessments
2023 Paid Collier County Notice of Ad Valorem Taxes and Non-Ad Valorem Assessments
Solid Waste
80
80
3.2043
2.0440
2.2480
0.0948
0.0978
0.7280
0.0263
0.1443
1.5000
Nov 30, 2023
Nov 30, 2023
0.2242
0
0
0
0
0
0
0
0
0
0
TAX HSP 1-24-00225556
249.29
239.32
41501440005
41501440005
GOLDEN GATE EST UNIT #91
ALL OF TR 15 & TR 18,
OR 1229 PG 856
GOLDEN GATE EST UNIT #91
ALL OF TR 15 & TR 18,
OR 1229 PG 856
Cypress Cove Landkeepers, Inc
0.00
CYPRESS COVE CONSERVANCY INC
PO BOX 110308
NAPLES, FL 34108
CYPRESS COVE CONSERVANCY INC
PO BOX 110308
NAPLES, FL 34108
19013 District 1 Garbage
10.3117
0.00
Receipt #
0.00
0.00
Pay your current taxes online at:
http://www.colliertaxcollector.com/
0.00
0.00
0.00
0.00
0.00
Paid By
0.00
325,378
409,760
325,378
325,378
325,378
325,378
325,378
325,378
325,378
409,760
325,378 325,378
325,378
325,378
325,378
325,378
409,760
409,760
$0.00
325,378
325,378
Institutional charitable
Page 1945 of 6405
Page 1946 of 6405
Page 1947 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM C - COMPARABLE DATA
ADDENDUM C
COMPARABLE DATA
Page 1948 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM C - COMPARABLE DATA
ID 9708 Date 8/12/2022
Address 1415 Angela Road Price $367,000
City Naples Price Per RA $382.29
State FL Transaction Type Closed Sale
Grantor Richard Van Der Meer Financing Cash sale
Grantee Trina McGillis-Prosser Property Rights Fee Simple
Tax ID
Days on Market 6 Sale Verification Date 8/26/2024
Book/Page or Reference Doc Instr. 6300507 Sale Verification Source Robert Vesci, PA w/ John R Wood
Properties
Conditions of Sale Arm's length Sale History None in last 3 years
Acres 9.55 Topography Wooded
Land SF 415,800 Zoning A-MHO-RFMUO
Primary Frontage Feet 660 Flood Zone Zone AH per FIRM 12021C 0115 H
Primary Frontage Street Angela Road (660 feet)Dimensions 330' x 30' x 330' x 660' x 330' x 30' x 330' x
600'
Utilities Electric, septic and well Shape Roughly square
GBA 1,152 Building Class Class C and D
Rentable Area 960 No. of Bedrooms 3.00
Construction Concrete Block, Elevated, Wood Frame No. of Bathrooms 1.00
Year Built 1976 Roof Cover Metal
Roof Type Gable
Comparable 1
Listed at $425,000 on 7/22/2022. Pended on 7/28/2022. Private Elevated Stilt Home on just under 9.5 Acres in Naples. Zoned Agricultural. Includes
gazebo, 2 older sheds, and an older chicken coop. First floor includes 960 square feet with kitchen, living room, three bedrooms, utility room and one
bath. Screened porch at 192 square feet. Ground level is enclosed with concrete block and includes one overhead door. Includes 1.96 acres of
Freshwater Emergent Wetlands. Angela Road is a one laned, private dirt road.
Site
Comments
Improvements
Transaction
96600003
Page 1949 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM C - COMPARABLE DATA
ID 9709 Date 5/4/2022
Address 1010 Keri Island Road Price $410,000
City Naples Price Per RA $406.75
State FL Transaction Type Closed Sale
Grantor Dorothy Minier Financing VA at $357,600
Grantee Bradford and Akiya Maston Property Rights Fee Simple
Tax ID
Days on Market 94 days Sale Verification Date 8/26/2024
Book/Page or Reference Doc Instr. 6258719 Sale Verification Source Mary Ann Bonard Thackston w/
Premiere Plus Realty Co.
Conditions of Sale Arm's length Sale History None in last 3 years
Acres 1.25 Topography Wooded
Land SF 54,450 Zoning A-MHO-RFMUO
Primary Frontage Feet 160 Flood Zone Zone AH per FIRM 12021C 0219 H
Primary Frontage Street Keri Island Road (160 feet)Dimensions 160' x 340'
Utilities Electric, well & septic Shape Roughly rectangular
Land to Building Ratio 45.38 Floor Area Ratio 0.02
GBA 1,200 Building Class Class D
Rentable Area 1,008 No. of Bedrooms 3.00
Construction Piling, Wood Frame No. of Bathrooms 2.00
Year Built 1982 Roof Cover Metal
Roof Type Gable
Improvements
Listed at $475,000 on 11/17/2021. Price decreases to $472,500 and $440,000 on 12/15/2021 and 2/4/2022 respectively. Pended on 2/9/2022 Back on
market on 3/19/2022. Final pending on 3/25/2022. Property includes 1,008 leasable area with 192 square foot front porch. 3 bedrooms and 3 baths.
Ground floor includes some siding. Includes 51,400± square feet of Freshwater Forested/Shrub Wetlands. Lender is United Wholesale Mortgage,
LLC. Keri Island is a one laned, gravel, private road.
Comments
Comparable 2
221800005
Transaction
Site
Page 1950 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM C - COMPARABLE DATA
ID 9710 Date 2/28/2023
Address 440 Golden Gate Boulevard West Price $450,000
City Naples Price Per RA $365.26
State FL Transaction Type Closed Sale
Grantor David W and Jessica J Clark Financing VA @ $441,849
Grantee Fabricio Pensalfini and Darelys
Moronta Alba
Property Rights Fee Simple
Tax ID
Days on Market 30 days Sale Verification Date 8/26/2024
Book/Page or Reference Doc Instr. 6371502 Sale Verification Source Claire S Gogan w/ EXP Realty LLC
Conditions of Sale Arm's length Sale History None in last 3 years.
Acres 2.08 Topography Wooded
Land SF 90,605 Zoning Estates
Primary Frontage Feet 150 Flood Zone Zones AH and X per FIRM 12021C
0430 H
Primary Frontage Street Golden Gate Blvd. (150 feet)Dimensions 150' x 604'
Utilities Electric, well & septic Shape Roughly rectangular
Land to Building Ratio 48.40 Floor Area Ratio 0.02
GBA 1,872 Building Class Class D
Rentable Area 1,232 No. of Bedrooms 2.00
Construction Elevated, Wood Frame No. of Bathrooms 1.00
Year Built 1983 Roof Cover Asphalt Shingles
Roof Type Gable
Transaction
Site
Comments
Improvements
Comparable 3
37166720006
Listed at $450,000 on 12/14/2022. Pended on 1/11/2023. Upgrades include 2021 stainless steel appliances, AC replaced in July 2022, 2022 fresh paint
and blinds, beautiful pavered driveway, recently replaced Hardi board siding, tile throughout a large privacy fence along the front of the property and
separate fencing on the right side of the property. 2 staircases, one on each side of the home which leads to the upstairs living space and two
separate entrances. Home includes 2 bedrooms with den and 1 bath with 416 sf deck and 224 sf covered porch. The septic and drainfield were
replaced in 2018. No wetlands. Lender is Cardinal Financial Company. Golden Gate Blvd. is four laned primary arterial with median.
Page 1951 of 6405
CYPRESS COVE CONSERVANCY ADDENDUM C - COMPARABLE DATA
ID 9711 Date 12/7/2023
Address 3461 19th Avenue SW Price $500,000
City Naples Price Per RA $496.03
State FL Transaction Type Closed Sale
Grantor Donald J Ward Jr.Financing Conventional @ $475K
Grantee Josue Garcia and Jasmin Vega Payes Property Rights Fee Simple
Tax ID
Days on Market 0 days Sale Verification Date 8/26/2024
Book/Page or Reference Doc Instr. 6485424 Sale Verification Source Don Ward, Jr. w/ MVP Realty
Associates LLC
Conditions of Sale Arm's length Sale History $350K on 10/5/2023
Acres 1.14 Topography Wooded
Land SF 49,500 Zoning Estates
Primary Frontage Feet 75 Flood Zone Zone AH per FIRM 12021C 0410 H
Primary Frontage Street 19th Avenue SW (75 feet)Dimensions 75' x 660'
Utilities Electric, well & septic Shape Roughly rectangular
Land to Building Ratio 39.04 Floor Area Ratio 0.03
GBA 1,268 Building Class Class D
Rentable Area 1,008 No. of Bedrooms 3.00
Construction Piling, Wood Frame No. of Bathrooms 1.00
Year Built 1984 Roof Cover Asphalt Shingles
Roof Type Gable
37984240001
Improvements
Transaction
Comments
Site
Listed at $525,000 on 11/21/2023 and pended same day. Home has new roof, new wide plank LVT flooring throughout, new kitchen with white sparkle
quartz countertops, tile backsplash, stainless steel appliances, new feature wall with wall mounted tv, new paint, trim, doors, lighting, fans, whole
house Reverse Osmosis system, new deck boards and railings, new fascia and soffit, new electric gate opener, new landscaping, and new hot water
heater. The home is a 3 bedroom, 1 bath stilt home with a large lower level with full bathroom, large carport, and storage area. Ground level includes
432 sf enclosed storage area. Fenced yard. Lender is United Wholesale Mortgage, LLC. Include .64 acres of Freshwater Forested/Shrub Wetlands.
19th Avenue is a two laned, asphalt street.
Comparable 4
Page 1952 of 6405
1
Conservation Collier Land Acquisition Program
Project Design Report
Cypress Cove Landkeepers Property
Date: January 2025
Property Owner: Cypress Cove Landkeepers, Inc.
Folio(s): 41501440005
Location: GOLDEN GATE EST UNIT 91 TR 15 & TR 18
Size: 10.00 acres
Purchase Price: $648,900
History of Project:
Purpose of Project: Environmental Conservation and Education – Conservation Collier Program
Program Qualifications:
This parcel is within the Dr. Robert H. Gore III (Gore) Preserve multi-parcel project boundary.
The Cypress Cove Landkeepers parcel was considered due to its proximity to an existing
Conservation Collier preserve. The Gore Preserve project area, which includes the Cypress Cove
Landkeepers parcel, met 5 out of 6 Initial Screening Criteria identified in the Conservation Collier
Ordinance, No. 2002-63, as amended, including presence of native habitat, potential for nature-
based recreational and educational opportunities, protection of water resource values and wetland
dependent species habitat, presence of significant biological/ecological values, listed species
habitat, connectivity, and restoration potential.
The parcel offers access from 40th Ave. SE, west of Desoto Blvd. S. The parcel also contains
existing amenities that can provide opportunities for public use and education. Potential public
uses include hiking, nature photography, bird watching, and environmental education.
The project area is approximately 75% wetlands, with the remaining 25% seasonal wetlands.
Significant areas of karst have been observed in the area. Karst is limestone terrain characterized
by sinkholes, caverns and underground streams, and is a wetland indicator. Plant communities
found on the property are consistent with mapped soils and provide habitat for wetland dependent
species. The project area is mapped by the South Florida Water Management District as
contributing 43’ to 56” annually of water to the Surficial Aquifer System and can be expected to
contribute to the attenuation of area flood waters. Hydrologic indicators such as karst topography,
cypress knees, and water marks on buttressed cypress trees provide evidence of seasonal flooding.
Selected for the “A” category, #1
priority, on the Active Acquisition List
(AAL) by CCLAAC
Selected for the “A”
category, #1 priority, on
AAL by BCC
Offer made
to owners
Offer accepted
3/6/2024 6/25/2024 9/18/2024 9/26/2024
Page 1953 of 6405
2
The mature cypress trees found on the property indicate that the area has historically contained
wetlands.
Invasive exotic plant species are present in significant amounts, up to 95% along the roadside and
approximately 50% interiorly. The primary invasive exotic plant is Brazilian pepper (Schinus
terebinthifolius), but others are likely also present.
The project area contains protected species of plants, including giant sword fern (Nephrolepis
biserrata) and several listed bromeliads in the Tillandsia genus. A neighbor and environmental
professional who is familiar with the property reported 5 native orchid species present within the
project area. The same neighbor has seen 5 panthers in the area since 2014 (including a panther
with kittens), dozens of Florida black bears (including females with cubs), and numerous other
wildlife. The observed habitat and location would support the presence of Everglades mink
(Neovison vison evergladensis), tricolored heron (Egretta tricolor), and little blue heron (Egretta
caerulea), all state-protected species.
The property is within an historic wetland area that connects on the east with the Florida Panther
National Wildlife Refuge (FPNWR) via the old Ford Test Track. The Gore Preserve and
surrounding lands enhance the FPNWR by acting as a buffer and providing a reasonably large
sized wild land addition north of I-75. There are wildlife underpasses at the adjacent Faka Union
and nearby Miller canals creating an ecological link south under I-75 to the Picayune Strand State
Forest. A little over two miles to the west are the North Belle Meade sending lands. The Gore
project is within the Florida Fish and Wildlife Conservation Commission (FWC) Primary Panther
habitat zone. The Cypress Cove Landkeepers parcel expands the Gore Preserve. This parcel, joined
with many others, could permanently protect a corridor between North Belle Meade and the
Florida Panther National Wildlife Refuge.
Public Use
Educational Programing - The Conservation Collier Program has committed to continuing to
provide educational programs to Collier Schools that were previously offered by The Cypress
Cove Landkeepers. The sale of the property and house includes the educational materials that were
used for these programs. Conservation Collier will provide six days of field trips, as was done
previously by the Cypress Cove Landkeepers, after the appropriate Conditional Use Permit is
obtained. Existing staff within the Conservation Collier will provide the educational
programming.
In the future (after 2031) when the current Conservation Collier acquisition phase is nearing
completion, existing staffing positions could be reallocated to educational programming at the
Gore Nature Center and other preserves.
Parking – The existing Gore Nature Center parking lot will be incorporated into the existing trail
system and act as the parking and trailhead for the Dr. Robert H. Gore III Preserve.
Site Security - Currently, the Landkeepers use Dehart Security. Several remote cameras are also
located around the outside of the nature center and are available to the property owner for
monitoring. The cameras can be accessed remotely. These will remain installed and the account
will be turned over to Collier County.
Page 1954 of 6405
3
A front gate also exists at the entrance of the driveway and parking area off 40th Ave. SE
Zoning, Growth Management and Land Use Overlays: The parcel is within the Northern
Golden Gate Estates. The zoning classification is Estates (E), a rural residential classification.
There are no additional land use overlays applicable. A Conditional Use Permit will required to
allow public use of the existing nature center and construction of public restroom facility if it is
greater than 500 square feet.
Projected Management Activities: Projected management activities include maintenance of the
existing building and structures, construction of an outdoor restroom facility, removal of invasive
plants, development of a Land Management Plan, trail maintenance, and continued development
of public access to selected portions of the preserve.
Estimated Management Costs:
Management Element 2025 2026 2027 2028 2029
Exotics $6,800 $5,000 $5,000 $5,000 $3,500
Trail Construction $1,800 $100 $100 $100 $100
Trail/Nature Center
Signage $2,700 $400 $400 $200 $200
Trail Connection Gate
Enhancements $7,700 $0 $0 $0 $0
Trail Structure
Maintenance $2,000 $800 $800 $800 $800
Restroom construction* $150,000
Security enhancements* $30,000
Sprinkler system and
wildfire safety
enhancements/reduction*
$15,000
Dehart security $500 $500 $500 $500 $500
Electricity, water, building
maint. $4,000 $4,000 $4,000 $4,000 $4,000
Total ** $55,500 $175,800 $10,800 $10,600 $9,100
* Could be combined with other projects to reduce engineering/design costs to implement.
** Total does not include all permitting and design fees.
SEE REMAINING PAGES FOR PHOTOS AND MAPS OF THE PARCEL.
Page 1955 of 6405
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5
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6
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Page 1959 of 6405
Inspection Report responses
Cypress Cove Landkeepers
4261 40th Ave SE, Naples, FL 34117
Able Home Inspections performed an inspection of the residential structure on October 30, 2024.
Subsequently, Conservation Collier staff met onsite with various Facilities staff in November and
December to evaluate the house. On December 11, 2024, staff met with the seller and Facilities
Management Division (Facilities) Senior Field Inspector; see related document titled “Gore Nature
Center Facilities Inspection” from the Facilities Inspector.
A summary is provided below of the various recommendations provided in the report from Able Home
Inspections. The following addresses each recommendation with the Able Home Inspection comment,
Seller’s response, and Staff’s response. Recommendations in the report will either be fixed by the
seller or are a non-issue according to Facilities as noted below. There are a three minor items that will
be fixed by the Conservation Collier Program after closing.
2.1.1 Grading Issue (pg. 9) – The grading underneath the deck near the home's front porch all slopes
underneath the deck, which is likely ponding water.
Seller response: Seller to fix prior to closing. This area will be backfilled to correct grading away
from footers of the deck.
2.2.1 Vegetation Growth (pg. 9) - The vegetation growth out of the limestone chimney.
Seller response: This is normal due to porous rock and no repairs are required.
Facilities: There is a small fern near the top of the chimney that needs removal.
2.2.2 Damaged Truss (pg. 9) - Rotted truss and 2nd story’s siding (pg. 10)
Seller response: Seller will fix prior to closing
2.2.3 Siding (pg. 10) - Siding on the "second story" was not fully inspected
Sellier response: Siding is good.
2.3.1. Fascia Board Rot (pg. 11)
Seller response: These pictures are growth from water runoff which have been pressure washed
away, and one is an old water damage stain. There is no rot or need for replacement. All fascia
boards were inspected and replaced as needed when the roof was replaced in 2019/20.
Facilities response: Fascia had algae growth that was cleaned off.
Page 1960 of 6405
2.8.1 Rotted wood (pg. 11-14) - A lot of the wood around the deck and boardwalk is damaged, rotted,
or not plumb, which can be affecting the structural integrity. Some of the fasteners for the floor joists
are rusted or damaged as well and should be evaluated.
Seller response:
1. This is mold growth from rain on the end of a board that had one old rot spot.
2. This is a rusty bracket, not rotted and completely normal due to rain runoff.
3. This is not rotted, will be cut back to expose a fresh end.
Facilities response:
1. Mold growth on the end of a board on the porch. This type of algae is typical on exterior
wood members and is cosmetic.
2. Rusty bracket (near board with mold growth on the porch). Corrosion on brackets (joist
hangers) is cosmetic/typical.
2.8.2 Cracked Concrete (pg. 14-15) - Covering the cracked concrete around pilings supporting the
boardwalk with fill
Seller response: These will be covered with fill when grading gets done, but are not a structural
issue as the pilings are sitting on top of footer.
Facilities response: Fill dirt will be pulled away from wood piles and placed beneath the deck.
2.8.2 Unlevel handicapped ramp (pg. # 15) –
Seller response: This was poured at a slight angle to avoid puddles at the end of the entrance as
it's all natural.
Facilities response: part of the concrete ramp has side slope of 3%, maximum for ADA is 2%. In
addition handrails should be installed on the sides of the concrete ramp as the slope is greater
than 5%.
Conservation Collier response: will add handrails next to concrete ramp after closing
2.8.3 Gap in decking board(s) (pg. 16)
Seller response: Agreed onsite this will be fixed prior to closing.
Facilities response: Remove boards and reinstall to correct the gaps.
3. Roof - Removal of debris on the roof (pg. 19)
Seller response: Will blow off roof before closing.
Page 1961 of 6405
Facilities response: Roof needs to be blown off. Limbs overhanging roof should be trimmed
away from the building.
Conservation Collier response: Will have roof blown off every 6 months.
3.3.1 Chimneys flashing (pg. 20)
Seller response: The flashing isn't "patched" or "heavily corroded", it is copper (hence the color)
and is laid in pieces to shape around the peak of the roof. The top of the chimney was repointed
in 2021 and the stain seen is in the grout material. The roof is under trees in a dense forest, so
this is not unusual to see dark stains where leaf litter may have stood at one time.
Facilities response: No problem with flashing, discoloration is due to copper aging.
5.1.1 Double tapped breakers (pg. 22)
Seller response: This will be corrected before closing.
5.3.1 Removal of wiring (pgs. 23 & 24)
Seller response: This will be corrected before closing.
5.3.2 Loose electrical outlets (pg. 24)
Seller response: This has been fixed.
Facilities response: Outlets sticking out from wall have been corrected and mounted flush.
5.5.1 Old smoke detector (pg. 25)
Seller response: These are not active smoke detectors, just an old one that was not removed
from the ceiling. There are 2 active smoke detectors, which are less than 2 years old, and are
monitored via the alarm company.
Facilities response: There is an old smoke detector on a high ceiling in living area that requires
tall ladder to remove.
Conservation Collier response: Will remove when practicable.
6.3.1 PEX water pipe - Oxidation on copper fittings (pg. 27)
Seller response: These fittings are not the ones mentioned in the above comments and are
perfectly fine. As for the copper, it's normal to see green oxidation and there are no leaks.
Nothing will be done on this recommendation.
Page 1962 of 6405
Facilities response: Corrosion on the copper crimp connections of the PEX tubing have corrosion
that is cosmetic and not leaking.
6.3.2 Sump pump (pg. 28) - The pipe for the sump pump is at an angle, recommend having a licensed
plumber make sure this isn't an issue. There is also a big stump right next to it.
Seller response: The pump was just installed and there is nothing wrong with the pipe being at
an angle or the palm stump next to it. This was also included as part of the septic inspection, so
nothing will be done with this recommendation.
Facilities response: There is no problem with sump system due to angle of waste pipe.
7.3.1 Office Door closing and latching (pg. 29) - Door doesn't latch properly. Recommend handyman
repair latch and/or strike plate.
Seller response: The door closes fine. Nothing will be done with this recommendation.
Facilities response: Door or jamb may be sanded for better fit.
Conservation Collier response: This is a non-issue. Staff will fix after closing if needed.
7.5.1 Water spots indicative of leaks (pgs. # 30-32)
Seller response: None of these water spots are active, or even recent. They are all stains from
old roof leaks prior to the roof replacement. Nothing will be done with this recommendation.
Facilities response: Water marks on ceilings appear to be old from before roof covering was
replaced, in addition the skylights were replaced. Recommend checking ceilings after heavy
rains.
Conservation Collier response: Staff will add this to regular inspection checklist.
7.5.2 Mildewy / moldy smell within the home (pg. 32)
Seller response: There is no mold smell present in the home at all, and no visible signs of mold
anywhere.
Facilities response: No mold smell in home only wood smell. (not an issue)
7.6.1 Baluster spaces too wide (pg. 32)
Seller response: An additional baluster will be placed in between every one existing, leaving no
more than 2" gaps anywhere. This will be completed prior to closing.
Facilities response: Balusters will be added to strengthen handrails.
Page 1963 of 6405
7.6.2 Gate - Removal of a door, and correcting loose handrails (pgs. 33 & 34)
Seller response: This gate will be removed and a fixed railing section will be put in its place.
Facilities response: There is a door from the deck to a deck without rails. The door will be
removed and replaced with railing. The loose handrails will be secured with additional
balustrades that will have two fasteners at bottom.
7.7.1 Chimney flue (pg. 34)
Seller response: This was cleaned and inspected in 2022 and has not been used since. Nothing
will be done with this recommendation.
Facilities response: According to the contractor the flue has been inspected and is in good
condition.
8.3.1 Sink fitting (pg. 35)
Seller response: This is a fernco installed by a licensed plumber as the repair to this drain line as
it's also a vented pipe and couldn't be pushed upward for full pipe replacement. Nothing will be
done with this recommendation.
Facilities response: There is a fernco clamp beneath the bathroom sink, this is not an issue-
there is no pressure on this fitting.
8.6.1 Loose toilets (pg. 36)
Seller response: Neither of the two toilets in the house are loose in any way. Nothing needs to
be done.
Facilities response: Toilets were not loose.
11.1.1 Empty / Dirty salt tank (pgs. 39 – 40)
Seller response: The salt tank had just been tipped over by a bear and emptied. It was
reinstalled and filled.
Facilities response: Salt tank had been tipped over by bears and has since been set up and filled
with salt.
11.1.1 Corrosion on above ground pump (pg. 40)
Seller response: The pump coloration is from the hard and iron filled water from the well. After
being installed a couple years back it developed a leak, which was fixed. Nothing will be done
with this recommendation.
Page 1964 of 6405
Facilities response: There was corrosion on the impeller of the house pump, this is a cosmetic
item and was not leaking.
Page 1965 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 1 of 43
ABLE HOME IN SPECTION S
239-354-3540
schedule@ableinspector.com
https://www.ableinspector.com/
RE SIDENTIAL REPORT
4261 40th Ave SE
N apl es , FL 34117
Cyp ress Cove Landkeepers, Inc.
OCTOBER 30, 2024
In spector
Dani el Lunsford
239-272-5761
ablehomeinspect o r@ gmail.com
Page 1966 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 2 of 43
TAB LE OF CONTENTS
1: Inspection Details
2: Gr ounds / Exterior
3: Roof
4: Heat/AC
5: Electr ical
6: P lumbing
7: Doors, Windows & Inter io r
8: Bathr oom
9: Kitchen
10: Fo undation
11: Well Equipment
Standar ds o f Pr actice
5
8
17
21
22
26
29
35
37
38
39
41
Page 1967 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 3 of 43
2.1.1 Grounds / Exteri or - Gradi n g Ob servation s: Grad ing Issue
2.2.1 Grounds / Exteri or - Exteri or Wall s: Veg etation Growth
2.2.2 Grounds / Exteri or - Exteri or Wall s: Damaged Truss
2.2.3 Grounds / Exteri or - Exteri or Wall s: N ot Vi si bl e
2.3.1 Grounds / Exteri or - Trim / Eaves Observati ons: Fascia Board Rot at Vari ou s Locations
2.8.1 Grounds / Exteri or - Deck / Lan ai: Rotted Wood
2.8.2 Grounds / Exteri or - Deck / Lan ai: Cracked Con crete
2.8.3 Grounds / Exteri or - Deck / Lan ai: Deck Floor
3.1.1 Roof - Coveri n gs: Excessi ve Debri s
3.3.1 Roof - Fl ash ings: Corroded
4.1.1 Heat/AC - Cooli n g Equi pmen t: N o HVAC Equ ipment
5.1.1 El ectrical - Panel Descri p ti on : Doubl e Tapped Breakers
5.3.1 El ectrical - Li g h ti ng Fi xtu res, Switch es & Receptacl es: Exp osed Wires
5.3.2 El ectrical - Li g h ti ng Fi xtu res, Switch es & Receptacl es: Install ed Imp rop erl y
5.5.1 El ectrical - Smoke Detectors: 10+ Years Ol d
6.3.1 Pl u mbi ng - Hot Water Systems, Con trol s, Fl ues & Vents: Pex Water Pipe
6.3.2 Pl u mbi ng - Hot Water Systems, Con trol s, Fl ues & Vents: Su mp Pump
7.3.1 Doors, Windows & Interior - Doors: Door Doesn't Latch
7.5.1 Doors, Windows & Interior - Cell ing / Wall Cond itions: Evi d en ce of Water Intrusion
7.5.2 Doors, Windows & Interior - Cell ing / Wall Cond itions: Abn ormal smel l
7.6.1 Doors, Windows & Interior - Steps, Stairways & Rail ings: Bal uster Sp aces Too Wi d e
7.6.2 Doors, Windows & Interior - Steps, Stairways & Rail ings: Gate
7.6.3 Doors, Windows & Interior - Steps, Stairways & Rail ings: N o Hand rai l
7.6.4 Doors, Windows & Interior - Steps, Stairways & Rail ings: Loose Han drail
7.7.1 Doors, Windows & Interior - Damp er Doors: Chi mney Flue
8.3.1 Bathroom - Plu mbi ng : Si nk Fi tti n g
8.6.1 Bathroom - Toil et : Toi let(s) Loose
11.1.1 Well Equi pmen t - Pump : Corrosion / Leak
SUMMAR Y
22 7
RECOMMENDATION SAFETY HAZARD
Page 1968 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 4 of 43
11.2.1 Well Equi pmen t - Sal t Tan k : Empty / Di rty
Page 1969 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 5 of 43
Inspection Conditions
Temperatu re was in th e 80's,
Con d ition s were d ry wi th no
si gni cant rai n for weeks
In Attendance
Home Own er
Structure Type
Si ngl e Famil y
Occupancy
Occu p ied - Furnished
Inspections Ordered
Gen eral Inspection, Well Test
Only t he below listed inspect ions were performed at request o f client . We o er a full range o f inspect ions. If y ou
require addit ional inspectio ns please let us know. The general inspect ion includes t he ho me o nly inside t he foundat ion
/ roof line. I t do es no t include o ther it ems such as, but no t limit ed t o: Well & Sept ic, Termit e, Air Quality , Rado n, P o o l,
I rrigat ion, I nsurance Inspectio ns, et c.
**I M PORTAN T N OTE: This inspect ion repo rt is co py right ed and is fo r the client's use only and is t he sole property o f
t he I nspect ion Co mpany and Client . The current homeo wner, listing agent, et c. do not hav e permissio n t o use t hisreport o r to prov ide any info rmatio n co ntained within t o any ot her part ies. Use o f t his report by any o ne ot her t han
our client is prohibited and we accept no liability fro m it s im proper use.
1: INSPECTION DETAILS
Informati on
Limitations
section-Mj E5N2M4M 2YtN WE5Yi 00Mj A3LTk2ZjgtNTUzZDg 5YTYyN Dc2
General
STO RE D I TE MS
There were a lot of stored i tems, fu rn itu re, etc., whi ch prevented us from bei ng ab le to inspect some
rooms fu ll y, as wel l as a large p ortion of the ou tsi d e. Some items weren’t inspected such as but n ot li mi ted
to; wi n dows, oors, outlets, si di n g , d rywall , su b ooring, foundation , p il ings, etc.
There was al so a lot of vegetation g rowth around the home wh ich li mi ted th e i nspector's abi li ty to see a
portion of th e exteri or of the h ome.
Page 1970 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 6 of 43
General
NO A DA
The inspection performed was strictly a home i n sp ecti on an d abi des by ASHI and Abl e Home Inspection's
stan dard s of practice. No porti on of thi s home was i nspected for code en forcemen t p oli cies, ADA
stan dard s, etc. Thi s i n sp ecti on / report shoul d n ot be u sed for anyth ing oth er th an a typi cal h ome
i n sp ecti on report.
General
RE CENTL Y P AINTED
The exteri or and/or in terior of th e home app ear to have b een recently p ainted. Thi s can make i t di cul t
for th e i nspector to see some i tems such as but n ot li mi ted to; cracks in the wal l or fou ndation, evi d ence
of active / previous water intrusion, vi sibl e si g n s of mold spores, p eeli ng of stucco or rotted wood , etc.
Page 1971 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 7 of 43
General
O UT HO USE
The inspector was mad e aware th at there was an other b u il din g on the property. Thi s bui ld ing was n ot
i n sp ected and is excl uded from this inspection / report.
Page 1972 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 8 of 43
GENERAL INFORMATION
Wood Frame - Home is wood
frame wi th wood sid ing
Grading Observations: Grading
Condition:
Defective
Exterior Walls: W all Conditions
Defective
Exterior Walls: Exterior Siding
Condition
Defective
Trim / Eaves Observations:
Condition
Defective
W indows / Doors Observations :
Condition
Sati sfactory
Driveway and Walkway
Condition: Description
Dri veway is gravel
Driveway and Walkway
Condition: Condition
Sati sfactory
Storm Protection: Description
Storm protection i s primaril y
Imp act Rated Windows / Glass
Storm Protection: Condition
Sati sfactory
Deck / Lanai: Deck / Lanai
Condition
Defective
2: GROUNDS / EXTERIOR
IN NI NP D
2.1 Gradi n g Ob servations X X
2.2 Exteri or Wall s X X
2.3 Trim / Eaves Observati ons X X
2.4 Windows / Doors Observati on s X
2.5 Driveway and Wal kway Con diti on X
2.6 Storm Protecti on X
2.7 Sprinkl er System X
2.8 Deck / Lan ai X X
IN = Inspe ct ed N I = N ot Inspect ed N P = N ot Prese nt D = De cie nci e s
Informati on
De ci encies
section-MGE1Mj ZlZTMtN TIwZC00ODAz LTgxMmMtYjI4YWR lN2EyMz Q1
2.1.1 Grading Observations
GRA D ING ISSUE
The grad ing underneath the d eck near the h ome's fron t p orch al l sl opes u n d ern eath th e deck, wh ich is
l ikel y pondi ng water. Recommen d further evaluation by a li censed contractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
Page 1973 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 9 of 43
2.2.1 Exterior Walls
VE GE TATIO N GRO WTH
There is vegetation g rowing from the ou tsi de of the stone wal l. Thi s can be an i n d icator of water getting
behi nd the wal l. Recommen d furth er evaluation by a l icensed con tractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
2.2.2 Exterior Walls
D AMA GE D TRUSS
On e or more of the trusse(s) are rotted / damaged. Recommen d further evaluation by a li censed
contractor.
Recommendation
Page 1974 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 10 of 43
Reco mmendatio n
Contact a q u ali ed p rofessional .
Nort hwest
2.2.3 Exterior Walls
NO T VI SIBL E
The sidi ng on th e "second-story" was not fu ll y i n sp ected / visi ble due to li mi ted access. Th e roof was not
walked on due to unsafe condi tions, so the inspector was not abl e to get a good vi ew of th e si d ing,
windows, or tri m as seen in th e photos bel ow. Recommen d furth er evaluation by a l icensed con tractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
Page 1975 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 11 of 43
2.3.1 Trim / Eaves Obs ervations
FA SCIA BO A RD RO T A T VARIO US L O CATIO NS
Fascia board s are rotted at various locations. Have in sp ected an d repai red as / where n eed ed by a
l icensed con tractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
West
Recommendation
2.8.1 Dec k / Lanai
RO TTE D WO O D
Recommendation
Page 1976 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 12 of 43
A lot of the wood arou n d the d eck and board wal k i s damag ed , rotted, or not p lumb, whi ch can be
a ecting th e stru ctural in tegrity.
Some of the fastners for th e oor j oists are rusted or damag ed as well an d shoul d b e evalu ated.
A large p orti on of the exterior of the home as well as th e boardwal k was al so not abl e to b e i n sp ected due
to excessive veg etation growth .
Al l of th e wood on th e exteri or of the h ome sh ou ld be furth er evalu ated by a li cen sed contractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Page 1977 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 13 of 43Page 1978 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 14 of 43
2.8.2 Dec k / Lanai
CRACKED CO NCRETE
A lot of the con crete su rroundi ng the wood pil in g s was cracked or damag ed .
The con crete si dewal k l eadin g to the b oardwalk also ap p ears to be at an an g le.
Recommen d further evaluation by a li censed contractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
Page 1979 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 15 of 43
2.8.3 Dec k / Lanai
D E CK FL O O R
There were some "larger than typi call y seen" gap s between the pi eces of wood on the deck oor.
Recommen d seekin g fu rther eval uation by a li cen sed contractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
Page 1980 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 16 of 43Page 1981 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 17 of 43
Inspection Method
Dron e
Flashings: Material
Aluminu m, Rub b er
3: ROOF
IN NI NP D
3.1 Coverings X X
3.2 Roof Drai n age Systems X
3.3 Flashi ngs X X
3.4 Skyli g h ts, Ch imn eys & Other Roof Pen etrations X
3.5 Ventil ati on X
3.6 Atti c / Stru cture / Insul ation X
IN = Inspe ct ed N I = N ot Inspect ed N P = N ot Prese nt D = De cie nci e s
Informati on
section-Y2UyM zA0M2EtOTVmMS00OGQwLTh mZWM tYj Jl MDc3Mzc0ODJj
Page 1982 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 18 of 43
Roof permit was pulled on
01/16/2020.
Coverings: Material
Metal
Page 1983 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 19 of 43
De ci encies
3.1.1 Coverings
EXCESSIVE D EBRIS
There was a large amount of d ebris p resent on the roof wh ich restricted the inspector's abi li ty to i n sp ect
the roof as wel l as may be cau si ng accel erated deteri orati on . Recommend having th e roof professi onall y
cl ean ed .
Recommendation
Page 1984 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 20 of 43
3.3.1 Flashings
CO RRO DE D
The ash ing arou nd the ch imney ap p eared to be corroded / heavi ly p atched. There was al so a heavy
patch around th e chi mn ey ue whi ch was not fu ll y vi si bl e wi th a d ron e. Recommend a qual i ed roo ng
contractor eval u ate and rep air.
Recommendation
Page 1985 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
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General Information
N ot presen t
Cooling Equipment: Condition
N ot presen t
4: HEAT/AC
IN NI NP D
4.1 Cool ing Eq uip ment X X
4.2 Temp erature Drop Ob servations X
4.3 Ducts / Distri bution System X
4.4 Thermostat X
IN = Inspe ct ed N I = N ot Inspect ed N P = N ot Prese nt D = De cie nci e s
Informati on
De ci encies
section-N2Vi Mj E1Yz UtZmMz Mi 00MWYzLTlj NWMtNTVj NzBmODlmNDBh
4.1.1 Cooling Equipment
NO HVA C E Q UIPME NT
There was no central HVAC system install ed withi n the h ome. I recommend ch ecking wi th local and
nation al cod es and req u iremen ts.
Recommendation
Page 1986 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 22 of 43
Panel Description : Main Panel
Location
Pan el is l ocated at i n teri or closet
Panel Description : Panel Type
Circu it Breaker
Panel Description : Panel Size
200 amp / 240 volt
Panel Description : Sub Panel
Location
N /A
W iring Type : W iring Type
Wi ri ng i s Romex style
GFCI Observations : Condition
Sati sfactory
5: ELECTRICAL
IN NI NP D
5.1 Panel Descripti on X X
5.2 Wiring Type X
5.3 Lighti n g Fi xtures, Swi tches & R ecep tacl es X X
5.4 GFCI Ob servations X
5.5 Smoke Detectors X X
IN = Inspe ct ed N I = N ot Inspect ed N P = N ot Prese nt D = De cie nci e s
Informati on
De ci encies
section-MTVj M WE5Mz MtOGU2Yi00MjQz LTk1ZmYtNzYxMzE4N WE3ZTMy
5.1.1 Panel Description
D O UBL E TAP PE D BREAKE RS
Dou b le tapp ed breaker(s) i n side p anel box (more th an one electrical
conductor attached ). Th is is n ot all owed, and may cause overheating
or even an electri cal re. Recommend evaluati on and rep air as
needed by a l icensed, reputab le electrician .
Reco mmendatio n
Contact a q u ali ed p rofessional .
Safety Hazard
Page 1987 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 23 of 43
5.3.1 Lighting Fixtures, Switches & Receptac les
EXPO SE D WIRE S
There are mu ltipl e exposed wi res, exposed wi re connections, i mproper conn ecti on s, etc. around the
exteri or of the h ome. Recommen d furth er evaluation by a l icensed electri cian.
Safety H azard
Page 1988 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 24 of 43
5.3.2 Lighting Fixtures, Switches & Receptac les
INSTA L L E D IMP RO PE RL Y
On e or more receptacles are fastened imp rop erl y. Recommend li cen sed el ectri ci an repai r or repl ace.
Recommendation
5.5.1 Smoke Detectors
10 + Y E A RS O L D
Safety Hazard
Page 1989 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 25 of 43
10 years is the maxi mu m recommen d ed l ife of a smoke detector p er
several ag en cies. Recommend replaci ng al l smoke detectors ol d er
than thi s and bringi ng thei r l ocati on up to mod ern
stan dard s. Th is is n ot a defect, it i s a recommen d ed safety upgrade.
We STRONGLY recommen d the u se of ph oto electri c smoke
detectors, not the ioni z ati on chamber un its. Studi es have sh own th e
i on ization chamb er uni ts wi ll NOT rel iabl y sound under many
condi ti ons.
N OTE: we do N OT test smoke detectors older than 10 years si n ce
they have exceed ed thei r designed and approved l ife span .
Reco mmendatio n
Contact a q u ali ed p rofessional .
Page 1990 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 26 of 43
Visible Water Supply Pipes
Cop p er, PEX
Visible Drain / Vent Pipes
PVC
Main W ater Shut-o Device:
Location
Exterior
Hose Bib Condition: Hose Bib
Sati sfactory
Hot W ater Systems, Controls,
Flues & Vents: Condition
Sati sfactory
Hot W ater Systems, Controls,
Flues & Vents: Capacity
0 gall ons
Hot W ater Systems, Controls,
Flues & Vents: Location
Interi or cl oset
Hot W ater Systems, Controls,
Flues & Vents: TPRV
Sati sfactory
Laundry Observations : Laundry
Description
Washwer an d d ryer were both
op erated an d worked normal ly at
ti me of inspection
Laundry Observations : Condition
Sati sfactory
6: PLUMBING
IN NI NP D
6.1 M ain Water Shut-o Devi ce X
6.2 Hose Bib Condi ti on X
6.3 Hot Water Systems, Control s, Flues & Vents X X
6.4 Laundry Ob servation s X
IN = Inspe ct ed N I = N ot Inspect ed N P = N ot Prese nt D = De cie nci e s
Informati on
De ci encies
section-ZWM0NTUz ZjgtZjYwYi00M TUwLTl iN jQtZGFj MThj YmU5YTMz
Page 1991 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 27 of 43
6.3.1 Hot Water Sys tems , Controls, Flues & Vents
P E X WATE R P I PE
There was Pex p ipi ng found wi th in th e home. PEX: There are some cases of PEX systems experi en cing
fail ure due to l ow q u ali ty, Chi nese i mp orted b rass tti n g s. Have the l icensed pl u mber exami n e these
tti ngs to d etermine if they are one of the prob lematic ttings.
These low qual ity ttings h ave a aw i n the all oy causi n g the zi nc to d issolve, al lowing p inh oles to d evelop.
Thi s process i s call ed d ez inci cati on .
Pl ease research th e term d ez inci cati on for further information .
There is al so corrosion on the cop p er pi p es i n multi p le areas. Recommen d furth er evaluation by a
l icensed p lumber.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
Page 1992 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 28 of 43
6.3.2 Hot Water Sys tems , Controls, Flues & Vents
SUMP PUMP
The pip e for th e sump p u mp is at an an g le, recommend having a l icensed pl u mber make su re th is isn't an
i ssu e. Th ere is also a bi g stump righ t n ext to it.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
Page 1993 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 29 of 43
Conditions
Wal ls are a comb inati on of
p an els, drywal l, and ton g u e and
groove, Cei li n g i s pai nted tongue
an d groove
Doorbell : Condition
Sati sfactory
W indows: Condition
Sati sfactory
Doors: Condition
Defective
Floors: Floor Coverings
Con crete, Hardwood , Til e
Celling / Wall Conditions: Wall
Material
Defective
Steps, Stairways & Railings:
Condition
Defective
Condition
Sati sfactory
Type
Masonry Fi repl ace
7: DOORS, WINDOWS & INTERIOR
IN NI NP D
7.1 Doorbel l X
7.2 Windows X
7.3 Doors X X
7.4 Floors X X
7.5 Cel li n g / Wall Con d ition s X X
7.6 Step s, Stai rways & Rail in g s X X
7.7 Damper Doors X X
IN = Inspe ct ed N I = N ot Inspect ed N P = N ot Prese nt D = De cie nci e s
Informati on
De ci encies
section-MWM 3OTZi YjgtOTc3M S00YmFkLTkyMDctOTE3Mjk2ZDVjZmI1
7.3.1 Doors
D O O R D O E SN'T LA TCH
Door d oesn 't l atch properly. Recommend handyman repai r l atch
and/or strike p late.
Recommendation
Page 1994 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 30 of 43
7.5.1 Celling / Wall Conditions
EVI D ENCE O F WATE R INTRUSIO N
There is evi dence of p revi ous / active water damage i n mul ti ple areas. Recommend furth er i n vesti g ati on
by a l icensed con tractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Sout heast
Recommendation
Page 1995 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 31 of 43Page 1996 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 32 of 43
7.5.2 Celling / Wall Conditions
A BNO RMAL SME L L
There is a smel l of mil d ew / mol d withi n the h ome. Recommen d havi ng mold test performed.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
7.6.1 Steps , Stairways & Railings
BALUSTE R SP ACE S TO O WI DE
Some of the b aluster spaces are on the b ord er if they are up to
modern safety stand ards. The space between bal u sters shou ld n ot
al low passage of a 4 3/8-inch sphere for chi ld safety. Recommend a
qual i ed i n stal ler eval uate al l of the spaces.
Safety Hazard
7.6.2 Steps , Stairways & Railings
GATE
The gate latch is b roken and is a di eren t h eight. Recommend
further evaluation by a li censed contractor.
Safety Hazard
Page 1997 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 33 of 43
7.6.3 Steps , Stairways & Railings
NO HAND RA IL
South b alcony h ad no handrai ls. Thi s is a safety haz ard . Recommend
a q uali ed h an dyman i n stal l a hand rai l.
Sout h
Safety Hazard
7.6.4 Steps , Stairways & Railings
LO O SE HANDRAIL
Han d rai ls are l oose. Th is i s a safety hazard, recommend hiri n g a qual i ed con tractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Safety H azard
Page 1998 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 34 of 43
Nort h East West
7.7.1 Damper Doors
CHIMNE Y FLUE
The inspector was unabl e to get a clear view of th e ue due to li mi ted access. Recommend h aving a
chi mney sweep p erformed by a l icensed con tractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
Page 1999 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 35 of 43
Bathroom : Locations
Mai n bathroom, Mai n #2
Countertops & Cabinets:
Cabinetry
Sati sfactory
Plumbing : Condition
Defective
Faucets & Fixtures : Condition
Sati sfactory
Tubs / Showers Condition:
Condition
Sati sfactory
Toilet : Conditions
Defective
Sinks : Condition
Sati sfactory
8: BATHROOM
IN NI NP D
8.1 Bath room X
8.2 Countertops & Cab inets X
8.3 Plu mbi ng X X
8.4 Faucets & Fi xtu res X
8.5 Tubs / Sh owers Con d ition X
8.6 Toil et X X
8.7 Sin ks X
8.8 Ventil ati on X
IN = Inspe ct ed N I = N ot Inspect ed N P = N ot Prese nt D = De cie nci e s
Informati on
De ci encies
section-Mzc0N WVhN TQtNDkyM y00OGQ5LTl jODEtODhj YTM wZTcyNGFh
8.3.1 Plumbing
SINK FI TTI N G
There is a ru bber sl eeve i n stal led on the sink d rai n.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
Page 2000 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 36 of 43
8.6.1 Toilet
TO ILET(S) L O O SE
Toi let(s) l oose wh ere it mounts to the oor.
Toi lets that are l oose at the oor are prone to leakage of b oth sewer
gases an d waste water. Have rep aired b y a li cen sed pl umb er onl y.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Sout h
Recommendation
Page 2001 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 37 of 43
Kitchen Sink : Kitchen Sink
Sati sfactory
Kitchen Plumbing : Kitchen
Plumbing Condition
Sati sfactory
Kitchen Dishwasher : Condition
Sati sfactory
Cooktop / Oven : Condition
Sati sfactory
Vent : Condition
Sati sfactory
9: KITCHEN
IN NI NP D
9.1 Countertops & Cab inets X
9.2 Ki tchen Sink X
9.3 Ki tchen Plumbi n g X
9.4 Ki tchen Electrical X
9.5 Ki tchen Di sh washer X
9.6 Di sp osal X
9.7 Cooktop / Oven X
9.8 M icrowave X
9.9 Vent X
IN = Inspe ct ed N I = N ot Inspect ed N P = N ot Prese nt D = De cie nci e s
Informati on
section-MTQ0ZTMwMGYtZDE3N y00N2Y4LWE0OGMtN 2I4YTQ4NGY3OWZi
Page 2002 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 38 of 43
Type
Sti lt Home
Condition
Defective
10: FOUNDATION
IN NI NP D
IN = Inspe ct ed N I = N ot Inspect ed N P = N ot Prese nt D = De cie nci e s
Informati on
section-ZTQwZGEwN GYtMzcz My00MjVj LWE2Zj ItYjYxN 2QzYTY5M 2Zh
Page 2003 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 39 of 43
Pump : Type
Pu mp is a submersibl e style
p u mp. Th e actu al p ump was not
ab le to b e i nspected
Salt Tank : Condition
Defective
Filter : Condition
Sati sfactory
11: WELL EQUIPMENT
IN NI NP D
11.1 Pump X X
11.2 Salt Tan k X X
11.3 Fil ter X
IN = Inspe ct ed N I = N ot Inspect ed N P = N ot Prese nt D = De cie nci e s
Informati on
De ci encies
section-YjAwMDMyN WEtNThmM i00YmRkLWFmNTgtYjg4ZWM0YWU3Zj cy
11.1.1 Pump
CO RRO SI O N / LE AK
The above-ground pump is corroded / ap pears to be leaki n g.
Recommen d further evaluation by a li censed p lumber.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
Page 2004 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 40 of 43
11.2.1 Salt Tank
EMP TY / D I RTY
The salt tank h ad no salt and l ikely needs to b e cl ean ed by a l icensed
contractor.
Reco mmendatio n
Contact a q u ali ed p rofessional .
Recommendation
Page 2005 of 6405
4261 40th Av e SE C ypress C ove Landk eepers, Inc.
Able Home Inspections Page 41 of 43
section-sop
STANDARDS OF PR ACTICE
In spe ction D etails
D e n it ion s of T e rm s
The purpose of an inspectio n is to nd m ajo r and signi cant it ems wit hin the property . Alt ho ugh we may include so meminor it ems in t he repo rt , they are not t he fo cus of our inspect ion. All ex isting structures will hav e so me minor cosmet ic
imperfectio ns o r no rmal wear and tear and t his is t o be expected. The hom e inspectio n is perform ed to the ASH I
St andards of Pract ice, a co py of which can be v iewed at ashi.o rg
Ov er our many y ears of inspecting hom es and co mm ercial propert ies we hav e learned t hat an inspect o rs t ime, energy
and focus is best spent focusing on major and signi cant it ems. Very minor or co smet ic defect s are ty pically not repo rt ed
on unless speci cally request ed. By focusing on the major and signi cant it ems, we hav e been able to maint ain o ne o f thehighest customer sat isfact ion rat ings in the count ry .
Im port an t N ote :
It is VIT ALLY im port an t t h at all it e m s th at are n oted as n e e din g re pa irs or m ain te n an ce be re paire d or
e valu a ted by a licen se d con trac t or prior t o close of e scrow, an d du rin g th e in spect ion c on t ract period.This is
v ery impo rt ant as o ccasionally addit ional defect s will be found during t he repair. Ex amples wo uld be roof leaks t hat
caused hidden rot , H V AC sy st ems that did no t o perat e pro perly due t o hidden, m ajo r issues, et c. W e are N OT respo nsible
fo r addit ional damage disco v ered during the repair process.
In spe cte d It e m s
I tems that are READI LY ACESSI BL E at the time of t he inspect ion, installed sy stems and co mponent s as list ed in t he ASH IStandards of Pract ice. Appliances t hat are permanent ly inst alled at the time of t he inspect ion are also inspect ed.
In spe ction T e rm s
Sat isfa c tory: This rating means t hat the it em is funct ioning properly at t he t ime of t he inspectio n and is expect ed t o
hav e a norm al serv ice life. The it em may hav e m inor imperfect ions o r no rmal wear and tear if it is not new. Alt hough t he
item is expected to hav e a normal serv ice life, abso lut ely no o ne can accurately predict exactly when a mechanical it emwill malfunct ion and need repaired or replaced.
D efe c t ive : This means the it em is eit her wo rn o ut, bro k en or is ino perat iv e. The it em will need immediat e repair o rreplacement.
Se rvic e able Ex c e pt as N ot e d: The it em in quest ion is operat ional, but in need of repair. An example may be a roof t hatis in good o v erall co ndit ion, but needs a m inor repair.
Safe ty Haza rd: Although many defect s may hav e some safet y implicat ions, this rat ing is reserv ed for t he mo st serioussafety issues.
N /A: Not Applicable
Ma in t e n an ce It e m : The item is in generally good co ndit ion, but needs maint enance. This is generally pro v ided as a
courtesy . An ex ample may be clo gged gut t ers t hat need cleaning.
Min or Con cern : These are it ems t hat are v ery m inor or co smetic in nature and are not t y pically asked t o be repaired.
Ma rgin al: The item is funct ional, but in po o r o v erall co ndit ion and will likely need replaced in t he near fut ure. An examplewould be a roof t hat do esn't currently leak, but has lit t le remaining life.
N ot In spe c t e d: The it em was no t inspect ed.
N ot Ac c e ssible : The it em was not accessible for inspect ion. An example may be an at tic wit h no access o r windows that
were blo cked by st ored it ems
Grou n ds / Ex t e riorThe home inspector shall observ e: Wall cladding, ashings, and t rim; Entry way doors and a represent ativ e number of
windo ws; Garage door operators; Decks, balconies, st o o ps, steps, areaway s, po rches and applicable railings; Eav es, so t s,
and fascias; and Veget at ion, grading, drainage, driv eway s, pat ios, walkway s, and ret aining walls wit h respect t o t heir e ect
on thecondition o f the building.
The home inspector shall: Describe wall cladding materials; Operat e all ent ry way do o rs and a representat iv e number o fwindows; Operat e garage doors manually or by using permanently inst alled cont ro ls fo r any garage door operator;
Report whether or not any garage do o r o perat o r will aut om at ically rev erse or stop when meet ing reaso nable resistance
during clo sing; and P robe ext erio r wood com po nent s where det erio rat ion is suspect ed.
Page 2006 of 6405
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Able Home Inspections Page 42 of 43
The home inspector is not required to o bserv e: St orm windows, storm do o rs, screening, shut t ers, awnings, and similarseasonal accesso ries; F ences; Presence of safet y glazing in doors and windo ws; Garage door operator remot e co ntrol
t ransm it ters; Geolo gical condit ions; So il co ndit ions; Recreat ional facilit ies (including spas, saunas, steam bat hs, swimming
pools, t ennis co urt s, play ground equipment , and o ther exercise, ent ert ainment , o r athlet ic facilities); Detached buildings
or st ruct ures; o r P resence o r conditio n of buried fuel st o rage t anks. The home inspect o r is not required to: M o v epersonal it ems, panels, furnit ure, equipment, plant life, so il, snow, ice or debris t hat obstructs access o r v isibilit y .
R oof
In spe ction St an dards:
The home inspector shall observ e: Roof co v ering; Roof drainage sy st ems; Flashings; Sky light s,
chimney s, and roof penetratio ns; and Signs o f' leaks or abnormal condensat ion on building
component s.
The home inspector shall: Describe t he t y pe of roof cov ering m at erials; and Repo rt t he methods
used t o observ e the roo ng. The ho me inspect or is not required t o : Walk o n t he roo ng; or Observ e
at tached accessories including but not limited to solar sy st ems, ant ennae, and light ning arrest o rs.
Heat/ACThe home inspector shall observ e perm anent ly installed heat ing and cooling sy stem s including: H eat ing equipment ;
Cooling Equipment that is cent ral t o home; N o rmal operating co ntrols; Aut o mat ic safet y co ntrols; Chimney s, ues, and
v ent s, where readily v isible; So lid fuel heating dev ices; H eat dist ribut ion sy stems including fans, pumps, ducts and piping,
with suppo rt s,insulatio n, air lt ers, regist ers, radiat ors, fan co il unit s, conv ectors; and the presence o f an installed heat so urce in each
ro o m.
The home inspector shall describe: Energy source; and H eating equipment and dist ributio n t y pe. The home inspector
shall operat e t he sy st ems using normal o perat ing cont rols. The home
inspect o r shall open readily openable access panels prov ided by t he manufact urer o r installer for rout ine homeo wnermaintenance.
The home inspector is not required to: Operate heat ing sy st ems when weather co ndit ions or ot her circumstances may
cause equipm ent damage; Operate automatic safety cont ro ls; I gnit e or
ext inguish solid fuel res; or Observ e: The interior of ues; Fireplace insert ue connectio ns; H umidi ers; Electronic air lters; or The uniformity o r adequacy of heat supply t o t he v ario us ro o ms.
Ele ctrical
The home inspector shall observ e: Serv ice ent rance conduct o rs; Serv ice equipment , grounding equipment , main o v er
current dev ice, and main and dist ribut ion panels; Amperage and v olt age ratings o f t he serv ice; Branch circuit conduct o rs,t heir ov er current dev ices, and t he co mpat ibilit y of t heir ampacit ies and v oltages; The o perat ion of a represent ativ e
number o f installed ceiling fans, lighting x tures, switches and recept acles locat ed inside the ho use, garage, and on t he
dwelling's ex terior walls; The po larity and grounding of all recept acles wit hin six feet of interior plumbing xt ures, and all
recept acles in the garage or carport, and on the ext erior of inspected st ruct ures; The operat ion o f ground fault circuitinterrupters; and Sm o ke detectors.
The home inspector shall describe: Serv ice amperage and v o lt age; Serv ice entry conductor materials; Serv ice ty pe as
being o v erhead or underground; and Locatio n of main and dist ribut ion panels.
The home inspector is not required to: I nsert any t o o l, probe, or t est ing dev ice inside t he panels; Test or operate any o v er
current dev ice except ground fault circuit int errupt ers; Dism ant le any electrical dev ice o r co ntro l o ther t han t o remov ethe co v ers of t he m ain and auxiliary dist ributio n panels; o r Observ e: L o w v oltage sy stem s; Security sy stem dev ices, heat
det ect ors, or carbon monoxide detectors; Telepho ne, security , cable TV , int ercoms, or ot her ancillary wiring that is no t a
part o f the primary electrical distribut ion sy st em; o r Built-in v acuum equipm ent .
The fo llo wing items are no t included in a st andard building inspectio n: Low v o lt age wiring such as, but not limited t o
alarms, audio / v ideo , et c. Landscape light ing / wiring, any dev ices on phot ocells or t imers.
Plu m bin g
The home inspector shall observ e: Int erior wat er supply and dist ribut ion sy stem, including: piping mat erials, support s,and insulatio n; xt ures and faucet s; funct ional ow; leaks; and cross
connectio ns; I nterior drain, waste, and v ent sy st em, including: t raps; drain, waste, and v ent piping; piping supports and
pipe insulat ion; leaks; and funct ional drainage; H ot wat er sy st ems including: water heat ing equipment ; normal operat ing
cont rols; aut o mat ic safet y co ntrols; and chimney s, ues, and v ent s; Fuel storage and dist ribut ion sy stems including:interior fuel st o rage equipment, supply piping, v enting, and support s; leaks; and Sump pumps.
The home inspector shall describe: Water supply and distribut ion piping mat erials; Drain, wast e, and v ent pipingmaterials; Wat er heat ing equipment ; and L o cat ion o f main wat er supply shuto dev ice. The home inspector shall operate
Page 2007 of 6405
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Able Home Inspections Page 43 of 43
all plumbing x tures, including t heir faucet s and all ext erior faucet s at tached t o t he house, except where the o w end o fthe faucet is connect ed to an appliance.
The home inspector is not required to: St at e t he e ectiv eness of ant i-sipho n dev ices; Det ermine whether wat er supplyand wast e disposal sy st ems are public o r priv ate; Operat e aut o mat ic safet y cont rols; Operate any v alv e ex cept wat ercloset ush v alv es, xt ure faucets, and hose faucet s; Observ e: Water condit ioning sy st ems; F ire and lawn sprink ler
sy stem s; On-sit e wat er supply quantity and qualit y ; On-site wast e disposal sy st ems; Foundat ion irrigat ion sy st ems; Spas,
except as to functio nal ow and functio nal drainage; Swimming po o ls; Solar water heat ing equipment; or Observ e thesystem for proper sizing, design, or use of proper mat erials.
D oors, W in dows & In t e rior
The home inspector shall observ e: Walls, ceiling, and oors; St eps, st airway s, balconies, and railings; Count ers and a
representat iv e number o f installed cabinet s; and A representat iv e number o f doors and windows.
The home inspector shall: Operat e a represent at iv e number of windows and int erior doors; and Report signs of abno rmal
or harmful water penetrat ion into the building or signs of abno rmal o r harm ful co ndensat ion on building component s.
The home inspector is not required to o bserv e: Paint, wallpaper, and ot her nish t reat ment s on t he interior walls,
ceilings, and o o rs; Carpet ing; o r Draperies, blinds, o r o ther window treatments.
Bat h room
The home inspector shall observ e: Walls, ceiling, and oors; St eps, st airway s, balconies, and railings; Count ers and arepresentative number o f installed cabinet s; and A representat iv e number o f doors and windows.
The home inspector shall: Operat e a represent at iv e number of windows and int erior doors; and Report signs of abno rmalor harmful water penetrat ion into the building or signs of abno rmal o r harm ful co ndensat ion on building component s.
The home inspector is not required to o bserv e: Paint, wallpaper, and ot her nish t reat ment s on t he interior walls,ceilings, and o o rs; Carpet ing; o r Draperies, blinds, o r o ther window treatments.
K it ch e n
The home inspector shall observ e and o perat e t he basic funct ions of t he fo llowing kitchen appliances: P ermanently
inst alled dishwasher, t hrough it s no rmal cy cle; Range, cook t o p, and
permanent ly inst alled o v en; Trash co mpactor; Garbage disposal; Vent ilat ion equipment or range hood; and Permanentlyinstalled microwav e ov en.
The home inspector is not required to o bserv e: Clo cks, t imers, self-cleaning ov en funct ion, or t hermo st at s for calibrat ionor aut o mat ic operatio n; N o n built-in appliances; or Refrigeratio n units. The ho me inspect or is not required t o operate:Appliances in use; o r Any appliance t hat is shut down o r o therwise inoperable.
Fou n dat ion
The H o me I nspect o r shall o bserv e structural compo nents including foundat ions, oors, walls, co lum ns o r piers, ceilings
and roof.
The home inspector shall describe the ty pe of Foundat ion, o o r structure, wall st ruct ure, columns or piers, ceiling
st ruct ure, roof st ruct ure.
The home inspector shall: P robe st ruct ural co mponent s where deterioratio n is suspected; Ent er under oor crawl spaces,
basement s, and at t ic spaces except when access is obstructed, when ent ry co uld damage the property , or whendangerous o r adv erse sit uat ions are suspect ed; Repo rt t he m et hods used t o observ e under oor crawl spaces and at tics;and Report signs of abno rmal o r harm ful wat er penet rat ion int o t he building or signs of abnormal or harmful
condensat ion o n building compo nents.
The home inspector is not required to: Ent er any area or perform any procedure t hat may damage t he propert y or its
component s or be dangero us to o r adv ersely e ect the health o f the ho me inspect o r o r o ther persons.
Page 2008 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
Project Name: Gore Nature Center
Address/Location: 4261 40th Ave. SE
Date of Inspection: 12-11-2024
Time of Day: 9:00 am
Weather Conditions: Partly Cloudy and 78°F
Type of Inspection: Property Inspection Review
The following items were reviewed:
Inspector comments in red.
1. The vegetation growth out of the limestone chimney. There is a small fern
near the top of the chimney that needs removal.
2. Mold growth on the end of a board on the porch. This type of algae is
typical on exterior wood members and is cosmetic.
3. Rusty bracket (near board with mold growth on the porch). Corrosion on
brackets (joist hangers) is cosmetic/typical.
4. Covering the cracked concrete around pilings of boardwalk with fill. Fill
dirt will be pulled away from wood piles and placed beneath the deck.
5. Office doors closing/latching. Door or jamb may be sanded for better fit.
6. Mildewy/moldy smell. No mold smell in home only wood smell. (not an
issue)
PROJECT INFORMATION
INSPECTION INFORMATION
Page 2009 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
7. Removal of a door and correcting loose handrails. There is a door from
the deck to a deck without rails. The door will be removed and replaced
with railing. The loose handrails will be secured with additional
balustrades that will have two fasteners at bottom.
Additional comments about inspector’s concrerns:
1. Backfilling ; contractor will backfill under the deck and keep dirt away
from wood piles.
2. Rotted truss (beneath eave at corner of deck); contractor will cut out and
repair rotted truss tails with new wood.
3. Fascia Board Rot; fascia had algae growth that was cleaned off.
4. Uneven handicapped ramp; part of the concrete ramp has side slope of
3%, maximum for ADA is 2%. In addition handrails should be installed on
the sides of the concrete ramp as the slope is greater than 5%.
5. Gap in decking boards. Remove boards and reinstall to correct the gaps.
6. Removal of debris on the roof. Roof needs to be blown off. Limbs
overhanging roof should be trimmed away from the building.
7. Chimneys flashing. No problem with flashing, discoloration is due to
copper aging.
8. Double tapped breakers. Breaker needs to be added to panel.
9. Removal of abandoned wiring. Abandoned wires and conduits to be
removed.
10. Correction of outlets. Outlets sticking out from wall have been corrected
and mounted flush.
11. Explanation of old smoke detector. There is an old smoke detector on a
high ceiling in living area that requires tall ladder to remove.
12. Oxidation on copper fittings. Corrosion on the copper crimp connections
of the PEX tubing have corrosion that is cosmetic and not leaking.
13. Sump pump pipe angle. There is no problem with sump system due to
angle of waste pipe.
Page 2010 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
14. Water spots on ceilings. Water marks on ceilings appear to be old from
before roof covering was replaced, in addition the skylights were
replaced. Recommend checking ceilings after heavy rains.
15. Addition of balusters. Balusters will be added to strengthen handrails.
16. Chimney Flue. According to the contractor the flue has been inspected
and is in good condition.
17. Sink drain (Fernco). There is a fernco clamp beneath the bathroom sink,
this is not an issue- there is no pressure on this fitting.
18. Loose toilets. Toilets were not loose.
19. Corrosion on above ground pump. There was corrosion on the impeller of
the house pump, this is a cosmetic item and was not leaking.
20. Empty/dirty salt tank. Salt tank had been tipped over by bears and has
since been set up and filled with salt.
Page 2011 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
Small fern growing on chimney.
Page 2012 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
There is no air conditioning in this building (by design). It should be noted that
addition of air conditioning and dry conditions could cause movement is wood
members (shrinkage from drying).
Page 2013 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
Rocks placed by well head due to it being hit by car and repaired previously.
Page 2014 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
Joist sticking out can be cut, not structural.
Page 2015 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
Tear in screen door panel.
Page 2016 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
Uneven stones at entry, there was discussion of coating with clear epoxy to
make level and for aesthetic look.
Page 2017 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
Tree limbs should not touch building and large limbs should be trimmed.
Page 2018 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
Joist hangers (like one in lower picture) should be added to toe-nailed joists.
Page 2019 of 6405
Inspection Completed By:
James Hall, Senior Field Inspector
If this is to be ADA compliant, handrails should be added next to concrete pad.
There is also a dip to the left in concrete pad that is greater than 2%, this also
would need correction.
Page 2020 of 6405
Page 2021 of 6405