Agenda 03/24/2026 Item #11D (Approve an Agreement for Sale and Purchase under the Conservation Collier Land Acquisition Program with Andres Echevarria for a 3.05-acre property)SEE REVERSE SIDE
Proposed Agenda Changes
Board of County Commissioners Meeting
March 24, 2026
Move Item 16A3 to 11C: Recommendation to approve properties on the Conservation Collier Land Acquisition
Advisory Committee’s January and February recommended Active Acquisition Lists and direct staff to pursue the
projects recommended within the A-Category, funded by the Conservation Collier Land Acquisition Fund.
(Commissioner McDaniel’s and Commissioner LoCastro’s separate requests)
Move Item 16A4 to 11D: Recommendation to approve an Agreement for Sale and Purchase under the
Conservation Collier Land Acquisition Program with Andres Echevarria for a 3.05-acre property at a cost of
$90,000, for a total cost not to exceed $91,870, inclusive of closing costs. (Commissioner LoCastro’s request)
Notes:
TIME CERTAIN ITEMS:
3/23/2026 2:40 PM
3/24/2026
Item # 16.A.4
ID# 2026-337
Executive Summary
Recommendation to approve an Agreement for Sale and Purchase under the Conservation Collier Land Acquisition
Program with Andres Echevarria for a 3.05-acre property at a cost of $90,000, for a total cost not to exceed $91,870,
inclusive of closing costs.
OBJECTIVE: To have the Agreement approved to purchase a 3.05-acre property within North Golden Gate Estates for
the Conservation Collier Program.
CONSIDERATIONS: On April 22, 2025, Agenda Item No. 11.C., the Board of County Commissioners (Board)
approved a Conservation Collier Land Acquisition Advisory Committee (CCLAAC) recommended Active Acquisition
List (AAL) and directed staff to actively pursue acquisition of the properties under the Program. The Echevarria parcel
was approved as an A-list property on the AAL.
Echevarria parcel 41660040003 – West end of 42nd Ave. SE in North Golden Gate Estates, east of Everglades Blvd. S,
near the intersection of Everglades Blvd. S and I-75.
• 3.05 acres of vacant, unimproved land consisting of mixed wetland hardwoods plant community.
• Staff contracted one independent, state-certified, general real estate appraisal firm to appraise the Echevarria
property and five other properties in the same area. The total cost to obtain all six appraisals was $3,900.
• An offer of $85,500 was made on January 29, 2026, and rejected. The negotiated purchase price of $90,000
was accepted on January 30, 2026.
• The purchase price is 100% of the appraised value.
The Echevarria property met 4 of 8 Initial Screening Criteria identified in the Conservation Collier Ordinance No. 2002-
63, as amended, including native plant communities, human social values, water resource value, and being within a
Target Protection Mailing Area (TPMA).
Telemetry indicates significant utilization of this area by the Florida black bear and the federally endangered Florida
panther. Preservation of this property would allow refuge for wildlife, including the Florida panther, traveling between
North Golden Gate Estates and Picayune Strand State Forest to the south. The property can also be expanded through
other acquisitions in this area to provide a connection from private conservation lands and undeveloped property within
North Belle Meade to Dr. Robert H. Gore III Preserve and the Florida Panther National Wildlife Refuge to the east.
The property provides opportunities for hiking and fishing.
The parcel is zoned Estates, which allows a maximum of 1 single-family unit per 2.25 acres.
This acquisition is consistent with the Conservation Collier Purchasing Policy, Resolution No. 2025-194, which allows
staff to determine the offer amount, but it shall not exceed the appraised value.
Pursuant to Ordinance 2002-63, as amended, a Project Design Report (PDR) for this property is provided herewith.
This item is consistent with the Collier County strategic plan objectives to preserve and enhance the character of our
community and to protect our natural resources.
FISCAL IMPACT: The funds for this vacant land acquisition will be withdrawn from the Conservation Collier
Acquisition Fund (1061). The property identified herein comprises a not-to-exceed acquisition cost of $91,870 as
follows:
Page 2365 of 6641
3/24/2026
Item # 16.A.4
ID# 2026-337
Seller
Name Acres Appraised
Value
Purchase
Price
Closing Costs
(title
commitment,
title policy,
closing fee,
recording
fees)
Total
Purchase
Price
Initial 5 Yr.
Maintenance
Costs
Long-term
Annual
Maintenance
Costs
Echevarria 3.05 $90,000 $90,000 $1,870 $91,870 $7,300 $450
As of March 24, 2026, the estimated property acquisition costs for Conservation Collier properties, including this
property and those under contract, total $141,100,501. The funds for managing this property will be expended from the
Conservation Collier Maintenance Fund (1062). The initial maintenance costs are provided in the attached PDR. The
total maintenance costs for this parcel for the first five years (initial maintenance costs) are estimated at $7,300. After
the initial restoration, the estimated annual maintenance cost for this parcel will be approximately $450.
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 Board
approval. -SAA
RECOMMENDATION(S):
1. To approve the attached Agreement and accept the Warranty Deed once approved by the County Attorney’s
Office.
2. To authorize the Chairman to execute the Agreement and any and all other County Attorney’s Office approved
documents related to this transaction; and
3. To authorize the County Manager or designee to prepare related vouchers and warrants for payments and to
take all reasonable steps necessary to ensure performance under the Agreement.
PREPARED BY: Melissa Hennig, Environmental Specialist I, Conservation Collier, Development Review Division
ATTACHMENTS:
1. Echevarria Purchase Agreement
2. Echevarria Project Design Report
3. Echevarria appraisal
Page 2366 of 6641
CONSERVATION COLLI€R
TAX l0 NUMBER: a1660040003
AGREEMENT FOR SALE AND PURCHASE
THIS AGREEMENT is made and entered into by and between ANDRES ECHEVARRIA,
whose address is 3006 Nora Avenue N, Lehigh Acres, FL 33971, (hereinafter referred to
as "Seller"), and COLLIER COUNTY, a political subdivision of the State of Florida, its
successors and assigns, whose address is 2685 Horseshoe Drive South, Suite 103,
Naples, FL 34104 (hereinafter referred to as "Purchaser").
WITNESSETH
WHEREAS, Seller is the owner of that certain parcel of real property (hereinafter referred
to as "Property"), located in Collier County, State of Florida, and being more particularly
described in Exhibit "A," attached hereto and made a part hereof by reference.
WHEREAS, Purchaser is desirous of purchasing the Property, subject to the conditions
and other agreemenls hereinafter set forth, and Seller is agreeable to such sale and to
such conditions and agreements.
NOW, THEREFORE, and for and in consideration of the premises and the respective
undertakings of the parties hereinafter set forth and the sum of Ten Dollars ($10.00), the
receipt and sufficiency of which is hereby acknowledged, it is agreed as follows.
I, AGREEMENT
1.01 ln consideration of the purchase price and upon the terms and conditions
hereinafter set forth, Seller shall sell to Purchaser and Purchaser shall purchase
from Seller the Property, described in Exhibit ''A".
II- PAYMENT OF P RCHASE PRICE
2.01 The purchase price (the "Purchase Price") for the Property shall be NINETY
THOUSAND and 00/100 DOLLARS ($90,000), (U.S. Currency) payable at time of
closing.
m. cLostNG
3.01 The Closing (THE'CLOSING DATE", "DATE OF CLoSlNG", OR "CLOSING") of
the transaction shall be held on or before one hundred and eighty (180) days
following execution of this Agreement by the Purchaser, or within thirty (30) days of
Purchaser's receipt of all closing documents, whichever is later. The Closing shall
be held at the office of the insuring title company or by mail. The procedure to be
followed by the parties in connectron with the Closing shall be as follows:
I
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CONSERVATION COLLIER
TAX lD NUMAERi 11660040003
3.0'11 Seller shall convey a marketable title free of any liens, encumbrances,
exceptions, or qualifications. Marketable title shall be determined according to
applicable title standards adopted by the Florida Bar and in accordance with law.
At the Closing, the Seller shall cause to be delivered to the Purchaser the items
specified herein and the following documents and instruments duly executed and
acknowledged, in recordable form:
3-0111 Warranty Deed in favor of Purchaser conveying title to the Property,
free and clear of all liens and encumbrances other than:
(a) The lien for current taxes and assessments
(b) Such other easements, restrictions, or conditions of record
3.01 12 Combined Purchaser-Seller closing statement.
3.0113 A "Gap Tax Proration, Owner's Non-Foreign Affidavit", as required by
Section 1445 of the lnte,nal Revenue Code and as required by the title
insurance underuriter 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 Internal Revenue Service.
3.012 At the Closing, the Purchaser, or its assignee, shall cause to be delivered
to the Seller the following:
3.0121 A negotiable instrument (County Warrant) in an amount equal to the
Purchase Price. No funds shall be disbursed to Seller until the Title Company
verifies that lhe stale of the title to the Property has not changed adversely
since the date of the last endorsement to the commitment, referenced in
Section 4.01 1 thereto, and the Title Company is irrevocably committed to pay
the Purchase Price to Seller and to issue the Owner's title policy to Purchaser
in accordance with the commitment immediately after the recording of the
deed.
3.0122 Funds payable to the Seller representing the cash payment due at
Closing in accordance with Article lll hereof, shall be subject to adjustmenl for
prorations as hereinafter set forth.
3.02 Each party shall be responsible for payment of rts own attorney's fees. Seller,
at its sole cost and expense, shall pay at Closing all documentary stamp taxes due
relating to the recording of the Warranty Deed, in accordance with Chapter 201.01,
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CONSERVATION COLLI€R
lAX lD NUMBERT 41660040003
Florida Statutes, closing fee for title services, and the cost and electronic fee of
recording any instruments necessary to clear Seller's title to the Property. The cost
of the Owne/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 reporl and
desired by Purchaser, Seller shall pay for a Phase ll Environmental Assessment
selecled 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 yeais millage.
IV. REQUIREMENT S AND CONDITIONS
4.01 Upon execution of this Agreement by both parties or at such other time as
specified within this Article, Purchaser and/or Seller, as the case may be, shall
perform the following within the times stated, which shall be conditions precedent to
the Closing;
4.01'1 Within fifteen (15) days after the date hereof, Purchaser shall request as
evidence of title an ALTA Commitment for an Owner's Title lnsurance Policy
(ALTA Form 8-1970) covering the Property, together with hard copies of all
exceptions shown thereon. Purchaser shall have thirty (30) days, following
receipt of the title insurance commitment, to notify Seller in writing of any
objeclion to title other than liens evidencing monetary obligations, if any, which
obligations shall be paid at closing- lf the title commitment contains exceptions
that make the title unmarketable, Purchaser shall deliver to the Seller written
notice of its intention to waive the applicable contingencies or to terminate this
Agreement.
4.012 lf Purchaser shall fail to advise the Seller in writing of any such objections
in Seller's title in the manner herein required by this Agreement, the title shall
be deemed acceptable. Upon notification of Purchaser's objection to title,
Seller shall have thirty (30) days to remedy any defects lo convey good and
marketable title at Seller's expense, except for liens or monetary obligations
which will be satisfied at Closing. Seller, at its sole expense, shall use its best
efforts to make such title good and marketable. ln the event Seller is unable to
cure said objections within said time period, Purchaser, by providing written
notice to Seller within seven (7) days after expiration of said thirty (30) day
period, may accept title as it then is, waiving any objection; or Purchaser may
terminate the Agreement. A failure by Purchaser to give such written notice of
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Page 2369 of 6641
CONSERVATION COLLIER
TAX lD NUMBERT 41660040003
termination within the time period provided herein shall be deemed an election
by Purchaser to accept the exceptions to title as shown in the title commitment.
4.013 Seller agrees to furnish any existing surveys of the Property in Seller's
possession to Purchaser wilhin ten ('10) days of the effective date of this
Agreement. Purchaser shall have the option, at its own expense, to obtain a
current survey of the Property prepared by a surveyor licensed by the State of
Florida. No adjustments to the Purchase Price shall be made based upon any
change to the total acreage referenced in Exhibit "A," unless the difference in
acreage revealed by survey exceeds 5% of the overall acreage. lf the survey
provided by Seller or obtained by Purchaser, as certified by a registered Florida
surveyor, shows: (a) an encroachment onto the property; or (b) that an
improvement located on the Property projects onto lands of others, or (c) lack of
legal access to a public roadway, the Purchaser shall notify the Seller in writing
of such encroachment, proiection, or lack of legal access, and Seller shall have
the option of curing said encroachment or prqection, 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 Agreemenl to notify Seller of any such objections. Should
Seller elect nol to or be unable to remove the encroachment, projection, or
provide legal access to the property within said sixty (60) day period,
Purchaser, by providing written notice to Seller within seven (7) days after
expiration of said sixty (60) day period, may accept the Property as it then is,
waiving any objection to the encroachment, or projection, or lack of legal
access, or Purchaser may terminate the Agreement. A failure by Purchaser to
give such written nolice of termination within the time period provided herein
shall be deemed an election by Purchaser to accept the Property with the
encroachment, or projection, or lack of legal access.
5.01 Purchaser shall have one hundred twenty (120) days from the date of this
Agreement, ("lnspection Period"), to determine through appropriate investigation
that:
1, Soil tests and engineering studies indicate that the Property can be developed
without any abnormal demucking, soil stabilization or foundations.
2. There are no abnormal drainage or environmental requirements to the
development of the Property.
3. The Property is in compliance with all applicable State and Federal environ-
mental laws and the Property is free from any pollution or contaminalion.
4. The Property can be utilized for its intended use and purpose in the
Conservation Collier program.
Pag€4ofr3
V, INSPECTION PERIOD
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CONSERVATION COLLIER
TAX lD NUMBER: 41660040003
5.02 lf Purchaser is not satisfied, for any reason whatsoever, with the results of any
investigation, Purchaser shall deliver to Seller prior to the expiration of the
lnspection Period, written notice of its intention to waive the applicable
contingencies or to terminate this Agreement. lf Purchaser fails to notify the Seller
in writing of its specific objections as provided herein within the lnspection Period, it
shall be deemed that the Purchaser is satisfed with the results of its investigations,
and the contingencies of this Article V shall be deemed waived. ln the event
Purchaser elects to terminate this Agreement because of the right of inspection,
Purchaser shall deliver to Seller copies of all engineering reports and environmental
and soil testing results commissioned by Purchaser with respect to the Property.
5.03 Purchaser and its agents, employees and servants shall, at their own risk and
expense, have the right to go upon the Property for the purpose of surveying and
conducting site analyses, soil borings and all other necessary investigation.
Purchaser shall, in performing such tests, use due care. Seller shall be notified by
Purchaser no less than twenty-four (24) hours prior to said inspection of the
Property.
VI. INSPECTION
6.01 Seller acknowledges that the Purchaser, or its authorized agents, shall have
the right to inspect the Property at any time prior to the Closing.
VII. POSSESSION
7.01 Purchaser shall be entitled to full possession of the Property at Closing.
VIII. PRORATIONS
8.0'1 Ad valorem taxes next due and payable, afler closing on the Property, shall be
prorated at Closing based upon the gross amount of current year taxes, and shall
be paid by Seller.
IX, TERMINATION AND REME DIES
9.01 lf Seller shall have failed to perform any of the covenants and/or agreements
contained herein which are to be performed by Seller, within ten (10) days of
written notification of such failure, Purchaser may, at its option, terminate this
Agreement by giving written notice of termination to Seller. Purchaser shall have
the right to seek and enforce all rights and remedies available at law or in equity to
a contract vendee, including the right to seek specific performance of this
Agreement.
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CONSERVATION COLLIER
TAX lD NUMBER: 41660040003
9.02 The parties acknowledge that the remedies described herein and in the other
provisions of this Agreement provide mutually satisfactory and sufficient remedies
to each of the parties and take into account the peculiar risks and expenses of
each of the parties.
X. SELLER'S AN D PURCHASER'S REPRESENTATIO NS AND WARRANTIES
10.01 Seller and Purchaser represent and warrant the following:
10.0'l'1 Seller and Purchaser have full right and authority to enter into and to
execute this Agreement and to undertake all actions and to perform all tasks
required of each hereunder. Seller is not presently the subject of a pending,
threatened or contemplated bankruptcy proceeding. Seller further represents
the Property is free from any and all occupants, tenants, and other persons or
entities claiming possession of the Property at the time of closing. This
provision shall survive closing.
10.012 Seller has full right, power, and authority to own and operate the
Property, and to execute, deliver, and perform its obligations under this
Agreement and the instruments executed in connection herewith, and to
consummate the transactton contemplated hereby. All necessary
authorizations and approvals have been obtained authorizing Seller and
Purchaser to execute and consummate the transaction conlemplaled 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 kue on the date of
this Agreement and as of the date of Closing. Purchaser's acceptance of a
deed to the said Property shall not be deemed to be full performance and
discharge of every agreement and obligation on the part of the Seller to be
performed pursuant to the provisions of this Agreement.
10.014 Seller represents that it has no knowledge of any actions, suits, claims,
proceedings, litigation or investigations pending or threatened against Seller, at
law, equity or in arbitration before or by any federal, state, municipal or other
governmental instrumentality that relate to this agreement or any other property
that could, if continued, adversely affect Seller's ability to sell the Property to
Purchaser according to the terms of this Agreement.
10-015 No party or person other than Purchaser has any right or option to
acquire the Property or any portion thereof.
10.016 Until the date fixed for Closing, so long as this Agreement remains in
force and effect, Seller shall not encumber or convey any portion of the
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Page 2372 of 6641
CONSERVATION COLLIER
TAx lD NUMBER: 11660040003
Property or any rights therein, nor enter into any agreements granting any
person or entity any rights with respect to the Property or any part thereof,
without first obtaining the written consent of Purchaser to such conveyance,
encumbrance, or agreement which consenl may be withheld by Purchaser for
any reason whatsoever.
10.017 Seller represents that they have (it has) no knowledge that there is or
ever has been incinerators, septic tanks, or cesspools on the Property; all
waste, if any, is discharged into a public sanitary sewer system; Seller
represents that they have (it has) no knowledge that any pollutants are or have
been discharged from the Property, directly or indirectly into any body of water.
Seller represents that to their knowledge the Property has not been used for the
production, handling, storage, transponation, manufacture, or disposal o{
hazardous or toxic substances or wastes, as such terms are defined in
applicable laws and regulations, or any other activity that would have toxic
results, and no such hazardous or toxic substances are currently used in
connection with the operation of the Property, and there is no proceeding or
inquiry by any authority with respect ther6to. 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.
10.0 1 8 Seller has no knowledge that the Property and Seller's operalions
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. Seller represents that it has no knowledge of consenl orders,
notices of violation, correspondence and any other documents issued by or
submitted to any governmental agency or regulatory authority relating to the
environmental condition of the property.
10.019 Seller has no knowledge of unrecorded leases, licenses or other
possessory interests, restrictions, easements, or rights of way (other than
existing zoning regulations) that reslrict or affect the use of the Property, and
there are no maintenance, construction, advertising, management, leasing,
employment, service, or other contracts affecting the Property.
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Page 2373 of 6641
CONSERVATION COLLIER
IAX l0 NUMBER: 41660040003
10.020 Seller has no knowledge that there are any suits, actions or arbitration,
bond issuances or proposals therefor, proposals for public improvement
assessments, pay-back agreements, paving agreements, road expanston or
improvement agreements, utility moratoriums, use moratoriums, improvement
moratoriums, administrative or other proceedings or governmental
investigations or requirements, formal or informal, existing or pending or
threatened which affects the Property or which adversely affects Seller's ability
to perform hereunder; nor is there any other charge or expense upon or related
to the Property which has not been disclosed to Purchaser in writing prior to the
effective date of this Agreement.
10.021 Seller acknowledges and agrees that Purchaser is entering into this
Agreement based upon Seller's representations stated above and on the
understanding that Seller will not cause the zoning or physical condition of the
Property to change from its existing state on the effeclive date of this
Agreement up to and including the Date of Closing. Therefore, Seller agrees
not to enter into any contracts or agreements pertaining to or affecting the
Property and not to do any act or omit to perform any act which would change
the zoning or physical condltion of lhe Property or the governmental ordinances
or laws governing same. Seller also agrees to nolify Purchaser promptly of any
change in the facts contained in the foregoing representations and of any notice
or proposed change in the zoning, or any other action or notice, that may be
proposed or promulgated by any third parties or any governmental authorities
having jurisdiction of the development of the property which may restrict or
change any other condition of the Property.
10.022 Al the Closing, Seller shall deliver to Purchaser a statement (hereinafter
called the "Closing Representative Statement") reasserting the foregoing
representations as of the Date of Closing, which provisions shall survive the
Closing.
10.023 Seller represents, warrants and agrees 1o 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 Environmenlal
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.
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CONSERVATION COLLIER
TAX tD NUMAER 41660040003
10.024 Any loss andlor 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, and with notification to the other Party sent via emarl containing
the tracking number and/or fax number (if applicable) of such notice addressed as
follows:
lf to Purchaser:
With a copy to:Attn: Vivian Rodriguez
Collier County Real Property Management
2685 Horseshoe Drive South, Suite 103
Naples, Florida 34104
Telephone number: 239-252-8442
Fax number: 239-252-887 6
Email: vivian.rodriguez@collier.gov
lf to Seller Andres Echevarria
3006 Nora Avenue N
Lehigh Acres, FL 33971
Telephone number: 7 8B-77 6-7 1A0
Email: andy.echevarriaT0@gmail.com
1 1.02 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 oi changing such addresses or
addressees only, unless and until such written notice is received, the last
addressee and respective address stated herein shall be deemed to continue in
effect for all purposes.
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Attn: Matthew Denison
Conservation Collier Program
2800 Horseshoe Drive North
Naples, Florida 34104
Email: Malthew.Denison@collier.gov
Page 2375 of 6641
CONS€RVA'TION COLLIER
TAX lD NUMBERT 41660040003
XII. REAL ESTA TE BROKERS
12.0'1 Any and all brokerage commissions or fees shall be the sole responsibility of
the Seller. Seller shall indemnify Purchaser and hold Purchaser harmless from and
against any claim or liability for commission or fees to any broker or any other
person or party claiming to have been engaged by Seller as a real estate broker,
salesman or representative, in connection with this Agreemenl. Seller agrees to
pay any and all commissions or fees at closing pursuant to the terms of a separate
agreement, if any.
XIII. MISCELLANEOUS
13.01 This Agreement may be executed in any manner of counterparts which
together shall constitute the agreement of the parties.
13.02 Thls Agreement and the terms and provisions hereof shall be effeclive 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, sucoessors, successor trustee, and assignees whenever
the conlext 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 execuled and dated by Purchaser and
Seller. Any amendment to this Agreement shall be binding upon Purchaser and
Seller as soon as it has been executed by both parties,
13.04 Captions and section headings contained in this Agreement are for
convenience and reference only; in no way do they define, describe, extend, or
limil the scope or intent of this Agreement or any provisions hereof.
13.05 All terms and words used in this Agreement, regardless of the number and
gender in which used, shall be deemed to include any other gender or number as
the context or the use thereof may require.
'13.06 No waiver of any provision of this Agreement shall be effective unless it is in
writing signed by the party against whom it is asserted, and any waiver of any
provision of this Agreement shall be applicable only to the specific instance to
which it is related and shall not be deemed to be a continuing or futu re waiver as to
such provision or a waiver as to any other provision.
13.07 lf any date specified in this Agreement falls on a Saturday, Sunday, or legal
holiday, then the date to which such reference is made shall be extended to the
next succeeding business day.
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13.08 Seller is aware of and understands that the "offe/' 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 whatsoeve.
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
14.0'1 This Agreement and the exhibits attached hereto contain the entile
agreement between the parties, and no promise, representation, warranty, or
covenant not included in this Agreement, or any such referenced agreements has
been or is being relied upon by either party. No modification or amendment of this
Agreement shall be of any force or effect unless made in writing and executed and
dated by both Purchaser and Seller. Time is of the essence of this Agreement.
XV, ACKNOWLEDGMENT OF POTENTIAL FUTURE USE
15.0'l 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.
15.02 Seller and Purchaser acknowledge and agree that any portion of the
Property may be used for public road right of way and roadway related
improvements, including, but not limited to, stormwater and utility improvements, at
the sole discretion of Purchaser.
SIGNATURES APPEAR ON THE FOLLOWNG PAGES
Page 1, of 13
CONSERVATION COLLIER
TAX ID NUMBER 11660040003
Page 2377 of 6641
CONSERVATION COLLIER
TAX ID NUMBER 41660040003
lN WITNESS WHEREOF, the parties hereto have signed below
Dated ProjecUAcquisition Approved by BCC:_
AS TO PURCHASER:
ATTEST:
CRYSTAL K. KINZEL, Clerk of the
Circuit Court and Comptroller
By:
, Deputy Clerk
DATED: 2 il 7.,o?c
By
ANDRE HEVARIA
Approved as to form and legality
, Assistanl County Allemey
Pn n*
du/'
Page 12 of {3
BOARD OF COUNry COMMISSIONERS
COLLIER COUNTY, FLORIDA
DAN KOWAL, Chairman
Page 2378 of 6641
CONSERVATION COLLIER
TAX lD NUMAERT 41660040003
EXHIBIT "A"
PROPERTY IDENTIFICATION NUMBER: 41 660040003
The West 150 Feet of Tract 1 13, Golden Gate Estates, Unit 92A, according to the Plat
thereof, recorded in Plat Book g, Page 10, of the Public Records of Collier County,
Florida.
3.05 ACRES
Page '!3 of 13
Page 2379 of 6641
1
Conservation Collier Land Acquisition Program
Project Design Report
Echevarria Property
Date: March 2026
Property Owners: Andres Echevarria
Folio(s): 41660040003
Location: Just east of the intersection of Everglades Blvd. S. and I-75; north off 42nd Ave.
SE Size: 3.05 acres
Purchase Price: $90,000
History of Project:
Purpose of Project: Environmental Conservation – Conservation Collier Program
Program Qualifications:
The Echeverria parcel met 4 out of 8 Initial Screening Criteria identified in the Conservation
Collier Ordinance No. 2002-63, as amended, including native plant communities, human social
values, water resource value, and within a Target Protection Mailing Area (TPMA).
The property can provide many recreational opportunities including hiking and fishing. The
acquisition of adjacent parcels would expand potential for recreational opportunities. The parcel
contains Mixed Wetland Hardwoods. Telemetry also indicates significant utilization of this area
by Florida black bear and the federally endangered Florida panther. This parcel contributes to an
important wildlife corridor connecting species from the Florida Panther Refuge, Golden Gate
Rural Estates, Dr. Robert H. Gore III Preserve, North Belle Meade, as well as the Picayune Strand
State Forest and Fakahatchee Strand State Preserve to the south through wildlife underpasses under
I-75.
Zoning, Growth Management and Land Use Overlays: The parcel is zoned Estates, which
allows a maximum of 1 single family unit per 2.25 acres.
Projected Management Activities: Management of this property will address the costs of exotic
vegetation and cabbage palm removal and control.
Recommended for the “A”
category on the Active Acquisition
List (AAL) by CCLAAC
Selected for the “A”
category on AAL by
BCC
Offer made to
owner Offer Accepted
2/5/2025 4/22/2025 1/29/2026 1/30/2026
Page 2380 of 6641
2
Estimated Management Costs:
Management
Element 2027 2028 2029 2030
2031
Exotics $2,600 $1,300 $1,300 $450 $450
Cabbage palm
treatment $1,200
Total $3,800 $1,300 $1,300 $450 $450
Page 2381 of 6641
3
Echevarria Property Location Map
Echevarria
Page 2382 of 6641
4
Echevarria Property Aerial Map
Page 2383 of 6641
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
REAL ESTATE APPRAISAL REPORT
ECHAVARRIA PARCEL
Residential Land
42nd Avenue SE
Naples, Collier County, Florida, 34117
PREPARED FOR:
Mr. Roosevelt Leonard, R/W-AC
Supervisor – Operations & Performance Management
Collier County
2685 Horseshoe Drive South, Suite 103
Naples, FL 34104
PO No. 4500242751
EFFECTIVE DATE OF THE APPRAISAL:
January 4, 2026
DATE OF THE REPORT:
January 9, 2026
REPORT FORMAT:
Appraisal Report
PREPARED BY:
RKL Appraisal and Consulting, PLC
RKL File Number: 2025-288
Page 2384 of 6641
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
Echavarria Parcel
42nd Avenue SE
Naples, Florida
Page 2385 of 6641
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
January 9, 2026
Mr. Roosevelt Leonard, R/W-AC
Collier County
2685 Horseshoe Drive South, Suite 103
Naples, FL 34104
Re: Real Estate Appraisal
Echavarria Parcel
42nd Avenue SE, Naples,
Collier County, Florida, 34117
PO No. 4500242751
RKL File Number: 2025-288
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 conforms with the Uniform Standards of Professional
Appraisal Practice (USPAP), the Code of Professional Ethics and Standards of
Professional Appraisal Practice of the Appraisal Institute and the appraisal guidelines of
Collier County.
The subject is a vacant residential land parcel of land containing an area of 3.05 acres, or
132,750 square feet. Low density residential with limited agricultural uses are permitted
under the present Estates (E) zoning designation.
Page 2386 of 6641
Mr. Roosevelt Leonard, R/W-AC
Collier County
January 9, 2026
Page 2
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
Based on the appraisal described in the accompanying report, subject to the Limiting
Conditions and Assumptions, Extraordinary Assumptions and Hypothetical Conditions
(if any), I have made the following value conclusion(s):
VALUE CONCLUSIONS
Appraisal Premise Interest Appraised Date of Value Value Conclusion
Market Value, As Is Fee Simple January 4, 2026 $90,000
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: None.
Respectfully submitted,
RKL APPRAISAL AND CONSULTING, PLC
Rachel M. Zucchi, MAI, CCIM
Florida State-Certified General Real Estate Appraiser RZ2984
rzucchi@rklac.com; Phone 239-596-0801
Page 2387 of 6641
ECHAVARRIA PARCEL TABLE OF CONTENTS
TABLE OF CONTENTS
Summary of Important Facts and Conclusions ................................................................... 1
Conservation Features Summary Overview ....................................................................... 2
Introduction Information ..................................................................................................... 3
Subject Identification ...................................................................................................... 3
Current Ownership and Property History ....................................................................... 3
Appraisal Scope .............................................................................................................. 3
Client, Intended User, and Intended Use ........................................................................ 4
Definition of Market Value ............................................................................................. 4
Definition of Property Rights Appraised ........................................................................ 4
Purpose of Appraisal, Property Rights Appraised, and Dates ........................................ 5
Scope of Work ................................................................................................................ 5
Economic Analysis ............................................................................................................. 6
National Economic Analysis........................................................................................... 6
Florida Economic Analysis ............................................................................................. 8
Collier County Area Analysis ....................................................................................... 10
Market Area Analysis ................................................................................................... 27
Property Description and Analysis ................................................................................... 32
Site Analysis ................................................................................................................. 32
Real Estate Taxes and Assessments .............................................................................. 41
Highest and Best Use .................................................................................................... 42
Valuation Methodology .................................................................................................... 44
Analyses Applied .......................................................................................................... 45
Sales Comparison Approach ......................................................................................... 46
Reconciliation ............................................................................................................... 54
Final Value Conclusion................................................................................................. 54
Certification ...................................................................................................................... 55
Assumptions and Limiting Conditions ............................................................................. 57
Addenda
Appraiser Qualifications ....................................................................................... Addendum A
Property Information ............................................................................................ Addendum B
Comparable Data .................................................................................................. Addendum C
Page 2388 of 6641
ECHAVARRIA PARCEL SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
Page 1
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
GENERAL
Subject:
Echavarria Parcel
42nd Avenue SE, Naples,
Collier County, Florida, 34117
Owner: Andres Echevarria
Legal Description: The west 150 feet of Tract 113, Golden Gate Estates, Unit 92A,
According to the plat thereof, recorded in Plat Book 9, Page 10,
of the public Records of Collier County, Florida.
Tax Identification: 41660040003
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: 3.05 acres; 132,750 square feet
Flood Zone: Zone AH and AE
Zoning: E - Estates
Highest and Best Use
As Vacant
Single-family residential development
Exposure Time 10-12 months
Marketing Period 10-12 months
VALUE INDICATIONS
Value Range of Comparables: $22,917 to $35,200 per acre
Reconciled Value(s): As Is
Value Conclusion(s) $90,000
Effective Date(s) January 4, 2026
Property Rights Fee Simple
The value conclusion(s) are subject to the following hypothetical conditions and extraordinary
conditions. These conditions may affect the assignment results.
Hypothetical Conditions: None.
Extraordinary Assumptions: None.
Page 2389 of 6641
ECHAVARRIA PARCEL CONSERVATION FEATURES SUMMARY OVERVIEW
Page 2
CONSERVATION FEATURES SUMMARY OVERVIEW
Project Name: Echavarria Parcel
Folio numbers with owner(s) of record: 41660040003
Zoning and overlays: E (Estates) within Estates Designation - Residential Estates
Subdistrict future land use
Zoning Considerations for TDR’s, PHU, other endangered species: None
Was the cost to mitigate wetlands or endangered species taken into consideration? Yes.
Heavily vegetated site located along north side of 42nd Avenue SE, a narrow gravel road
that runs parallel to Interstate 75. According to a Conservation Collier Property Summary
Report dated March 2025, there are wetlands on the parcel. According to the U.S. Fish &
Wildlife Service Wetlands Mapper, the parcel consists entirely of Freshwater
Forested/Shrub Wetlands. An expired 2006 listing reports the first 200 feet of the lot are
uplands according to an informal wetland determination. The wetland determination was
not attached to the listing. According to the Conservation Collier Property Summary, the
parcel consists of mixed wetland hardwoods. The estimated cost to remove exotics is
$2,600 with ongoing annual costs estimated at $450. Cabbage Palm thinning is estimated
at $1,200.
Scope of proposed mitigation: According to the U.S. Fish & Wildlife Service Wetlands
Mapper, the parcel consists entirely of Freshwater Forested/Shrub Wetlands; therefore,
construction of a single-family residence will require an environmental resource permit
with associated mitigation purchases. Comparables with similar wetland coverage are
analyzed in the following appraisal. Mitigation costs are based on the functional quality
of the wetland. Determining the quality of the wetlands is beyond our scope of expertise.
Land Area: 3.05 acres or 132,750 square feet
Access for the parcel taken into consideration: Yes, access is below average.
Highest and Best Use: Single-family residential development
Date of estimated value: January 4, 2026
Estimated value: $90,000
Page 2390 of 6641
ECHAVARRIA PARCEL INTRODUCTION INFORMATION
Page 3
INTRODUCTION INFORMATION
SUBJECT IDENTIFICATION
Subject:
Echavarria Parcel
42nd Avenue SE, Naples,
Collier County, Florida, 34117
Legal Description: The west 150 feet of Tract 113, Golden Gate Estates,
Unit 92A, According to the plat thereof, recorded in Plat
Book 9, Page 10, of the public Records of Collier
County, Florida.
Tax Identification: 41660040003
The subject is a vacant residential land parcel of land containing an area of 3.05 acres, or
132,750 square feet. Low density residential with limited agricultural uses are permitted
under the present Estates (E) zoning designation.
CURRENT OWNERSHIP AND PROPERTY HISTORY
Owner
The owner of the property is Andres Echevarria.
Sale History
According to public records, the subject has not sold in an arm’s length transaction 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
Page 2391 of 6641
ECHAVARRIA PARCEL INTRODUCTION INFORMATION
Page 4
● 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 Appraisal,
7th ed. (Chicago: Appraisal Institute, 2022) as:
The most probable price that a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller each acting prudently
and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit
in this definition is the consummation of a sale as of a specified date and the passing
of title from seller to buyer under conditions whereby:
▪ Buyer and seller are typically motivated;
▪ Both parties are well informed or well advised, and acting in what they consider
their best interests;
▪ A reasonable time is allowed for exposure in the open market;
▪ Payment is made in terms of cash in United States dollars or in terms of
financial arrangements comparable thereto; and
▪ The price represents the normal consideration for the property sold unaffected
by special or creative financing or sales concessions granted by anyone
associated with the sale.”
(Source: 12 C.F.R. Part 34.42(h); 55 Federal Register 34696, August 24, 1990, as amended at 57
Federal Register 12202, April 9, 1992; 59 Federal Register 29499, June 7, 1994; 79 Federal Register
28400, May 16, 2014; 83 Federal Register April 9, 2018; 84 Federal Register, October 8, 2019)
DEFINITION OF PROPERTY RIGHTS APPRAISED
Fee simple estate is defined as an: “Absolute ownership unencumbered by any other
interest or estate, subject only to the limitations imposed by the governmental powers of
taxation, eminent domain, police power, and escheat.” (Source: The Dictionary of Real
Estate Appraisal, 7th ed. (Chicago: Appraisal Institute, 2022)
Page 2392 of 6641
ECHAVARRIA PARCEL INTRODUCTION INFORMATION
Page 5
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 January 4, 2026. The
date of inspection was January 4, 2026. The date of the report is January 9, 2026.
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 on site inspection was made and photographs
were taken.
Market Area and Analysis of
Market Conditions:
A complete analysis of market conditions has been made.
The appraiser maintains and has access to comprehensive
databases for this market area and has reviewed the market
for sales and listings relevant to this analysis.
Highest and Best Use Analysis:
A complete as vacant highest and best use analysis for the
subject has been made. Physically possible, legally
permissible, and financially feasible uses were considered,
and the maximally productive use was concluded.
Valuation Analyses
Cost Approach:
A cost approach was not applied as there are no
improvements that contribute value to the property.
Sales Comparison Approach:
A sales approach was applied as typically this is the most
appropriate approach for the valuation of vacant land. This
approach is applicable to the subject because there is an
active market for similar properties and sufficient sales data
is available for analysis.
Income Approach:
An income approach was not applied as the subject is not
likely to generate rental income as vacant land.
Hypothetical Conditions:
None.
Extraordinary Assumptions: None.
Comments
The individual sections of the report detail the additional research, confirmation, and
analysis of relevant data.
Page 2393 of 6641
ECHAVARRIA PARCEL NATIONAL ECONOMIC ANALYSIS
Page 6
ECONOMIC ANALYSIS
NATIONAL ECONOMIC ANALYSIS
The Federal Reserve Open Market Committee (FOMC) released the following statement
on December 10, 2025. Available indicators suggest that economic activity has been
expanding at a moderate pace. Job gains have slowed this year, and the unemployment
rate has edged up through September. More recent indicators are consistent with these
developments. Inflation has moved up since earlier in the year and remains somewhat
elevated.
The Committee seeks to achieve maximum employment and inflation at the rate of 2
percent over the longer run. Uncertainty about the economic outlook remains elevated.
The Committee is attentive to the risks to both sides of its dual mandate and judges that
downside risks to employment rose in recent months.
In support of its goals and in light of the shift in the balance of risks, the Committee
decided to lower the target range for the federal funds rate by 1/4 percentage point to 3-
1/2 to 3-3/4 percent. In considering the extent and timing of additional 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 is strongly committed to
supporting maximum employment and 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 Federal Reserve cut rates by 25 basis points in September 2025, the first cut of the
year, and another 25 basis points in October 2025 and December 2025. According to the
Fed’s dot plot, policymakers are split with a majority projecting just one cut in 2026,
down from expectations earlier in the year.
The following table details the economic forecasts of Federal Reserve Board members
and Federal Reserve Bank presidents as of December 2025. Real GDP is projected to
grow at a rate of 2.3% in 2026, an increase from the September 2025 projection of 1.8%.
The unemployment projection for 2026 remained at 4.4%. The Core PCE inflation
projection for 2026 decreased to 2.5% from the September 2025 projection of 2.6%.
Page 2394 of 6641
ECHAVARRIA PARCEL NATIONAL ECONOMIC ANALYSIS
Page 7
Lawrence Yun, NAR Chief Economist, noted in a January 2025 Economic Issues and
Home Sales Trends webinar that 2025 may be a better year for real estate, with more
inventory, more listings and more sales. Dr. Yun projects home sales rising 9% this year
and another 13% in 2026. He projects price growth to be more muted at 0% to 5%.
According to the Freddie Mac 2025 Outlook, although demand is expected to remain well
above average in 2025, vacancy is expected to increase to 6.2%. The below-average rent
growth of 2.2% and rising vacancy rates result in a forecast of gross rental income growth
of 2% for 2025.
According to the National Association of Real Estate Investment Trusts’ (NAREIT) 2025
Report, “there is a real possibility for an environment with both moderating interest rates
and robust economic growth, otherwise known as an economic soft landing.
Nevertheless, there are both lingering and emerging risks, including soft property
fundamentals in some sectors and higher interest rates reflecting fiscal imbalances.
Overall, in a world that will be marked by increasing and accelerating change, we see
opportunities for REITs in 2025.”
In the 2025 CBRE U.S. Real Estate Market Outlook, Dr. Richard Barkham, Global Chief
Economist and Head of Global Research, predicts that despite many uncertainties, “the
U.S. economy is poised for growth in 2025, driven by consumer spending, easing
financial conditions and productivity gains. While retail and data centers have been
supported by longer-term trends, all other real estate sectors will see the start of a new
cycle.” Even though the 10-year Treasury yield is projected to remain above 4%, Dr.
Barkham projects capitalization rates will compress slightly. Investors have the
opportunity to secure long-term returns that have not been available for many years.
Page 2395 of 6641
ECHAVARRIA PARCEL FLORIDA ECONOMIC ANALYSIS
Page 8
According to the Deloitte Center for Financial Services annual Commercial Real Estate
Outlook for 2025, “the global economic recovery has been uneven across geographies,
and this will likely continue going forward.” Results from Deloitte’s 2025 commercial
real estate outlook survey give some indication that commercial real estate owners and
investors are hopeful that 2025 will emerge as a year of potential recovery over two years
of muted revenues and pullbacks in spending. After two consecutive years where most
survey respondents expected revenue declines, 88% of global respondents now report
they expect their company’s revenues to increase going forward, a substantial shift from
the 60% who expected further declines last year. Moreover, 60% of respondents expect
growth to be in excess of 5% year over year.
According to the PwC Emerging Trends in Real Estate 2025, real estate investors and
developers should be poised for an upturn in industry trends as the post-pandemic
disruption abates and positive cyclical forces gain strength. “The Federal Reserve is
among the most important cyclical forces. Its pivot to reducing interest rates indicates a
peak for inflation and construction costs — and the pivot is helping real estate markets to
clear, boosting transaction activity. However, not all dealmakers are ready to jump in
with both feet. After all, rate cuts also indicate a slower economy and that could affect net
operating income (NOI) growth. The path to renewed vigor could take surprising
detours.”
According to J.P. Morgan Chase 2025 commercial real estate outlook, Following several
years of elevated inflation, muted growth and general uncertainty, commercial real estate
could be positioned for an upswing. “The industry is poised to be in a better place
compared to the last few years,” said Victor Calanog, Global Head of Research and
Strategy, Real Estate Private Markets at Manulife Investment Management. “It appears
that the landing will be relatively soft, so that should mean continued positive momentum
for economic activity, benefiting leasing and income drivers, including rents and
occupancies.” Overall, the outlook for the 2025 commercial real estate is positive. The
industrial sector remains the industry’s darling. Multifamily and retail continue to
perform well, although they do have vulnerabilities. In some markets, even office
vacancy rates are beginning to moderate.
FLORIDA ECONOMIC ANALYSIS
According to the U.S. Census Bureau, Florida was home to four of the nation’s top five
fastest-growing metropolitan statistical areas and three of the top 10 that gained the
largest number of people from 2022 to 2023, reflecting continued population growth
across the South. U.S. migration patterns played a significant role in the South’s
population growth. Many people moved to this region, contributing to its overall positive
net domestic migration (more people moving in from the rest of the United States than
moving out to other parts of the United States). From 2022 to 2023, 28 of the top 30
metro areas with the highest positive domestic migration were in the South.
According to the Winter 2024 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 2.5% from 2024 to
Page 2396 of 6641
ECHAVARRIA PARCEL FLORIDA ECONOMIC ANALYSIS
Page 9
2027. Real Gross State Product will decelerate during the economic slowdown as growth
will slow to 3.3% in 2024 and 2.2% in 2025, then accelerate to reach 2.5% by 2026 and
ease to 2.1% in 2027.
According to WalletHub’s 2025 Best States for Retirement report, Florida remains the
top choice based on affordability and quality of life. According to the report, the
combination of warm weather, miles of coastline and a tax-friendly environment keeps it
at No. 1. Florida stands out not just for its beaches and recreation options but also for
what it lacks: state income, inheritance and estate taxes. WalletHub analyst Chip Lupo
said, "There's a lot of talk in Florida now about doing away with property taxes, which
would make it even more appealing to retirees." Other top-ranking states included
Minnesota, Colorado, Wyoming and South Dakota.
Payroll job growth in Florida will begin to gradually decelerate as the economy remains
at full employment. After year-over-year growth of 5.7% in 2022, payroll employment in
2023 was 3.4% but will slow to 2.0% in 2024 and drift lower to 0.6% by 2027.
Housing starts have felt the bitter chill of higher mortgage rates. Total starts were
193,500 in 2022—before higher mortgage rates and worries of a slowing economy
started a deceleration that will slow starts to 157,072 in 2027.
The unemployment rate fell to 2.7% in 2023. The slower economy will push the rate up
to 3.1% in 2024, and to 3.6% in 2025 before creeping to 3.8% in 2027.
Page 2397 of 6641
ECHAVARRIA PARCEL COLLIER COUNTY AREA ANALYSIS
Page 10
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.
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
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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 6th overall in the 2023-2024 Best Places to Live
report released by U.S. News & World Report and Sarasota is ranked 5th.
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. Naples is one of the
wealthiest areas in Florida, and it has seen significant population and job growth over the
past several years. As migration from state to state has returned to pre-pandemic levels,
the Naples region has seen population and job growth slow over the past year.
According to the 4Q 2025 CoStar report, the market is one of the most affluent areas in
Florida, with a median household income of $94,000, about 10% higher than the national
median. The area's reputation as a retirement destination is reflected in its median age of
54, well above the state's median of 43. This demographic profile shapes both the local
economy and commercial real estate landscape, as the market caters to a population with
considerable disposable income and a preference for high-quality amenities and
healthcare services.
Population growth has long been a primary driver of commercial real estate expansion in
Naples. Growth peaked between 2021 and 2022, when the market added approximately
13,000 new residents, but has since slowed to 3,100 net new residents in the past year.
Migration patterns have largely returned to pre pandemic norms, with in-migration from
out-of-state movers expected to remain subdued in the future. This moderation in
population growth is having a cascading impact on commercial real estate fundamentals,
with demand for office, industrial, and retail space softening as the pace of new residents
slows.
Healthcare is the cornerstone of Naples' economy, representing the largest share of the
market's employment base. Major hospital systems are among the top employers, and the
presence of Arthrex, a global medical device manufacturer employing nearly 4,000
people, underscores the market's strength in health related industries.
The area's aging population continues to drive demand for medical office space,
outpatient facilities, and specialized healthcare services, supporting ongoing investment
by healthcare companies. Additionally, tourism, real estate, and finance contribute to the
region's economic diversity, but none rival healthcare's dominance in local employment.
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The following table shows employment projections through 2032 by the Florida
Department of Economic Opportunity. As shown, the Construction and Professional and
Business Services Industries have the largest projected growth rate of 11.1% and 11%
respectively. Agriculture, Forestry, Fishing and Hunting are all projected to decline by
10%.
NAICS Title 2024 2032 Growth
Percent
Growth
Total, All Industries 667,076 710,326 43,250 6.5
Agriculture, Forestry, Fishing & Hunting 6,315 5,681 -634 -10.0
Mining 583 622 39 6.7
Construction 74,293 82,513 8,220 11.1
Manufacturing 16,413 16,459 46 0.3
Trade, Transportation, and Utilities 117,977 125,261 7,284 6.2
Information 6,229 6,715 486 7.8
Financial Activities 31,824 33,907 2,083 6.5
Professional and Business Services 82,530 91,587 9,057 11.0
Education and Health Services 76,975 84,462 7,487 9.7
Leisure and Hospitality 100,721 103,073 2,352 2.3
Other Services, Ex. Public Admin 24,972 26,837 1,865 7.5
Government 77,367 79,170 1,803 2.3
Self Employed and Unpaid Family Workers, All Jobs 50,877 54,039 3,162 6.2
Source: Florida Department of Economic Opportunity
JOBS BY INDUSTRY
WORKFORCE REGION 24 - CHARLOTTE, COLLIER, GLADES, HENDRY, LEE AND MONROE COUNTIES
Employment
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. Since the pandemic,
unemployment numbers steadily decreased through 2024 as the economy continued to
improve. However, unemployment rates in 2025 year-to-date have exceeded 2024 levels.
The preliminary reported unemployment rate in August 2025 was 4.8%.
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As of August 2025, the unemployment rate for the State of Florida was 4.4%, down from
the peak in May 2020 of 14.2%. On a national level, the unemployment rate in August
2025 was 4.5%, a decrease from the peak in April 2020 of 14.8%. Collier County
currently has a slightly higher August rate, at 4.8%, than state levels and lower rate than
national levels.
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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 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. Recent hurricanes, including Ian (September
2022), Helene (September 2024), and Milton (October 2024) have also affected the labor
market. The Service-Providing and Leisure and Hospitality sector have both lost jobs in
2025 year to date.
Year
Service-
Providing
%
Change
Goods
Producing
%
Change
Mining, Logging, &
Const.
%
Change
Leisure and
Hospitality
%
Change
All Employees,
Total Nonfarm
%
Change
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 145,400 4.1%26,300 6.0%20,700 6.7%30,300 3.4%171,100 4.0%
2024 150,300 3.4%27,000 2.7%21,100 1.9%32,000 5.6%177,300 3.6%
2025*149,300 -0.9%27,300 1.4%21,300 1.0%31,100 -4.9%176,600 -0.6%
*Through August 2025; percentage increase in comparison to August 2024 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 tables below provides a few examples of some key employers in
Southwest Florida and the largest industries.
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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.
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Tourist Tax Revenues
The following graph from the Southwest Florida Regional Economic Indicators August
2025 report prepared by Florida Gulf Coast University shows Collier, Lee, Charlotte,
Sarasota County’s tourist tax revenues. Seasonally-adjusted real tourist tax revenues for
the coastal counties registered $8.0 million in August 2025, up 0.5 percent from the prior
month and 0.1 percent decline from the August 2024 figure.
Collier County’s seasonally-adjusted real tourist tax revenues were $3.9 million in
August 2025, a 0.7 percent increase from July 2025 and a 1.8 percent increase from
August 2024.
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 600 new home sales in 2024 and 652 new home sales in 2023. It is the highest -
ranking community 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
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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%. Approximately 50% of the buyers are from
the east coast of Florida.
In January 2020, in what was 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.
In December 2025, Collier County commissioners unanimously approved a new rural
village known as Horse Trails Village. The Collier Enterprises development is planned
on nearly 1,218 acres on the north side of Oil Well Road, west of State Road 29 within
the Rural Lands Stewardship Area. According to the Naples Daily News, it's the eighth
village or town the county has approved in the environmentally sensitive Rural Lands
Stewardship Area (RLSA). Horse Trails is approved for up to 3,205 homes, including
305 set aside as affordable housing; a maximum of 169,865 square feet of retail and
office development; a maximum of 100,000 square feet of indoor self-storage; and a
minimum of 32,050 square feet of civic, governmental and institutional uses. Other
approved uses include senior housing such as assisted living centers and continuing care
retirement communities, limited to 300 residences. Development could begin in 2027,
with the build-out expected to take about 15 years.
There are more than $1 billion in new luxury high-rise developments near the coast
including The Ritz-Carlton Residences, Naples (formerly known as 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
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300 was completed in December 2022, Tower 400 was completed in 2024 and Tower
500 is scheduled for completion in September 2026 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 2nd Quarter 2025 report, the Office of Federal Housing Enterprise Oversight
(OFHEO) found that the Naples- Marco Island MSA had a 0.45% increase in home
prices (purchase-only) over the trailing 12 months. Home prices (purchase-only) in the
state of Florida decreased 1.39% over the past year (2Q 2024 – 2Q 2025) which was 50th
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.
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 opened to patients in June 2025.
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, with 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, listen 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 Lodge is built on 20 acres of land along
City Gate Boulevard North and feature a 100,000 square foot indoor water park, 500-
room hotel, and 62,000 square feet of amenities and attractions. The resort opened in
September 2024 and has 600 full-time and part-time employees.
Naples Comprehensive Health (NCH) announced plans for an estimated $65 million
osteopathic medical school that will be located near the corner of Hacienda Lakes
Boulevard and Collier Boulevard in East Naples. According to a Naples Daily News
article, dated November 11, 2025, Bay College of Osteopathic Medicine LLC is looking
for a "sister school" to complement its recently completed Orlando College of
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Osteopathic Medicine. The Collier County Commission unanimously approved $6
million in economic development funds over 10 years for the initiative. The project is
expected to have a $1.7 billion to $2 billion overall economic impact in the region over
25 years, according to county officials. The Naples College of Osteopathic Medicine will
accommodate 400 students on campus and is expected to open in the fall of 2028,
according to Dr. Robert Hasty, dean of the Orlando osteopathic school.
Work is underway for Collier County’s first Diverging Diamond Interchange (DDI) at
Pine Ridge Road and I-75. A second DDI will be installed at the Immokalee Road
interchange along with the proposed widening of Interstate 75. Phase I of the widening
project (from Immokalee Road to the Lee County line) is projected to commence in 2027.
Phase II (from the Lee County line to just south of Bonita Beach Road up to Corkscrew
Road) is projected to commence in 2029. Phase III (from Pine Ridge Road north to
Immokalee Road) is projected to commence in 2030 and Phase IV (from Golden Gate
Parkway north to Pine Ridge Road) is projected to commence in 2031.
Investment Trends
The following CoStar data shows Collier County trends in the Multi-Family, Retail,
Office, and Industrial sectors as of the fourth quarter 2025.
According to the CoStar report, multifamily investment activity in the Naples market has
remained resilient, with total sales volume reaching $228 million over the trailing 12-
month period. This level of activity places current quarterly averages roughly 20% above
the 2015 to 2019 annual average. However, sales activity has trended downward for three
consecutive quarters, with the third quarter of 2025 recording just under $35 million in
total sales volume, a notable decline from the $89 million posted in the fourth quarter of
2024.
A handful of large transactions have accounted for the bulk of recent activity. Over the
past year, six sales closed at prices north of $10 million, compared to just two such
transactions in the prior 12 months. The largest deal year to date was Excelsa's $41
million acquisition of Oasis at Naples, a 216-unit, 1990s-vintage property that traded at
$190,000 per unit. Excelsa has announced plans to invest an additional $7 million in
capital improvements, highlighting the growing prevalence of value-add strategies in the
market. By comparison, the largest trade of 2024 was PLK Communities' $82 million
purchase of the newly built Mark Lane Apartments, which traded at $287,000/unit for a
2022-vintage asset.
Despite these headline transactions, the broader investment landscape has become more
challenging. Multifamily fundamentals have waned over the past two years, with rising
vacancies and declining rents weighing on underwriting and investor sentiment. The
market has seen a shift toward value-add plays, as buyers seek opportunities to reposition
older assets and drive returns through renovations and operational improvements.
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Transaction activity is likely to remain subdued until there is a meaningful improvement
in market fundamentals. While select deals will continue to close, widespread sales
activity is unlikely in the near term.
According to the CoStar Report, retail investment activity has been consistent over the
past year, with the market recording $203 million in total sales volume. Current levels are
down from the impressive run seen between 2021 and 2023, when the market averaged
around $400 million in annual sales volume.
The bulk of transactions over the past year have been on the smaller side here, with an
average sale price of $3.4 million. The Naples market opened 2025 with a larger
transaction. Colorado-based M Development purchased a nearly 20,000-SF building on
5th Avenue in Downtown Naples for $29.5 million, roughly $1,500/SF. The buyer and its
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affiliates have bought several buildings in Downtown Naples over the past few years,
including a 28-property $263 million deal in October 2023.
A more typical market trade would be the $3.1 million acquisition of a free-standing
restaurant along Bellaire Bay Drive in March 2025. The 5,500-SF building was 100%
leased at the time of sale and traded for $560/SF after being on the market for 60 days.
According to the CoStar Report, office investment activity has remained muted over the
course of 2025, with very few transactions closing for more than $3 million. In the past
12 months in Naples, sales volume has tallied $76.6 million which represented 330,000
SF of inventory, and it compares to the five-year average of $115 million. The cyclical
peak for quarterly sales volume was $118 million during 23Q4, and the last completed
quarter totaled $54.5 million.
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Sale transactional pricing, which fluctuates based on the mix of assets sold over the
trailing year, has averaged $310/SF in the past 12 months versus the five-year average of
$280/SF. Conversely, market pricing, which estimates the value of all office assets in
Naples based on completed sales, measures $250/SF. That compares to the five-year
average of $240/SF.
Office transactions are typically on the smaller side here, averaging just $1.5 million.
However, on a per SF basis, Naples is one of the most expensive office markets to
purchase buildings in Florida. At $310/SF on a transactional basis, office buildings trade
here much higher than the national average of $199/SF. For example, SG Contracting
Inc. purchased the 100% occupied Commons V MOB from Healthcare Realty Trust for
$19.25 million, or $320/SF.
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According to the CoStar report, industrial investment activity has been relatively muted
over the past few quarters after a multi-year run of historic sales volumes.
Over the past year, the market has recorded $79.5 million in total sales volume, well
below the 5-year average of $123 million. Pricing has remained more or less the same
over the past several years, averaging around $192/SF, as of the fourth quarter of 2025.
Sales are typically on the smaller side here, with an average sale price of just under $2
million. This market is not reliant on institutional investors, and as such, future
investment volumes should be in line with current volumes. The largest sale was a $10.25
million acquisition of a 40,000-SF industrial building along Horseshoe Drive by a local
private investor. The building was 50% occupied at the time of sale and traded for
roughly $260/SF.
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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
$151,444 and a per capita income of $65,894.
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 as demand declined due to continued increases in interest rates. Pricing
generally stabilized in 2025 and is projected to remain fairly stable through 2026.
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). According to the August 2025 Naples Area Board of Realtors
Market Report, “the Naples housing market held steady during the summer, with
inventory decreasing to pre-pandemic levels and an overall median closed price that
showed strong value retention.” The median closed price was down 1.1% from $595,000
in August 2024 to $588,500 in August 2025.
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.
The recent 50 basis point decrease and subsequent 25 basis point decreases in the federal
funds rate, are expected to further stabilize the commercial market and potentially
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increase demand for both residential and commercial property. The Federal Reserve cut
rates by 25 basis points in September 2025, the first cut of the year, and another 25 basis
points in October 2025 and December 2025. According to the Fed’s dot plot,
policymakers are split with a majority projecting just one cut in 2026, down from
expectations earlier in the year.
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).
Collier County Area Map
Subject
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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.
Collier Boulevard extends from Immokalee Road to the north and 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.
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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 3 mile
radius from Everglades Blvd S and 40th Ave SE. The table was developed using data
from STDBOnline.com.
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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, Chase Bank, and Brickyard Car Wash.
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 includes 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
Page 2417 of 6641
ECHAVARRIA PARCEL MARKET AREA ANALYSIS
Page 30
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 as demand declined due to continued
increases in interest rates. Pricing generally stabilized in 2025 and is projected to remain
fairly stable through 2026.
The recent 50 basis point decrease and subsequent 25 basis point decreases in the federal
funds rate, are expected to further stabilize the commercial market and potentially
increase demand for both residential and commercial property. The Federal Reserve cut
rates by 25 basis points in September 2025, the first cut of the year, and another 25 basis
points in October 2025 and December 2025. According to the Fed’s dot plot,
policymakers are split with a majority projecting just one cut in 2026, down from
expectations earlier in the year.
Page 2418 of 6641
ECHAVARRIA PARCEL
Page 31
Market Area Map
Page 2419 of 6641
ECHAVARRIA PARCEL SITE ANALYSIS
Page 32
PROPERTY DESCRIPTION AND ANALYSIS
SITE ANALYSIS
The following description is based on our property inspection and public records.
SITE
Location: The subject is located along the north side of 42nd Ave SE, east of
Everglades Blvd S in Golden Gate Estates Unit 92A.
Current Use of the Property: Vacant Estates (E) zoned land.
Shape: The site is rectangular.
Road Frontage/Access:
The subject property has below average access with frontage as
follows:
• 42nd Avenue SE (narrow gravel road): 150 feet
The site has an average depth of 885 feet. It is not a corner lot.
Visibility: Average
Topography: According to the Conservation Collier Property Summary dated
March 2025, there are wetlands on the parcel. According to the U.S.
Fish & Wildlife Service Wetlands Mapper, the parcel consists
entirely of Freshwater Forested/Shrub Wetlands. An expired 2006
listing reports the first 200 feet of the lot are uplands according to an
informal wetland determination. The wetland determination was not
attached to the listing.
Soil Conditions: According to the Conservation Collier Property Summary dated
March 2025, the site consists of mixed wetland hardwoods with very
minimal aquifer recharge; buffers I-75 canal.
Utilities:
Electricity: FP&L
Sewer: None
Water: None
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.
• Sidewalks: There are no sidewalks.
• Curbs and Gutters: 42nd Avenue SE is a gravel road with no
curbs or gutters.
• Curb Cuts: The subject currently has no driveway.
• Landscaping: According to the Conservation Collier Property
Summary dated March 2025, the parcel consists of mixed
wetland hardwoods. The estimated cost to remove exotics is
$2,600 with ongoing annual costs estimated at $450. Cabbage
Palm thinning is estimated at $1,200.
Parcel ID Gross Land Area
(Acres)
Gross Land Area
(Sq Ft)
41660040003 3.05 132,750
Land Summary
Page 2420 of 6641
ECHAVARRIA PARCEL SITE ANALYSIS
Page 33
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 and AE, which is classified as a flood hazard area.
FEMA Map Number: 12021C 0445H
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: We were not provided with an environmental assessment report for
the purpose of this appraisal. Environmental issues are beyond our
scope of expertise; therefore, aside from the wetlands and exotics we
assume the property is not adversely affected by environmental
hazards.
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: Heavily vegetated site located along north side of 42nd Avenue SE, a
narrow gravel road that runs parallel to Interstate 75. According to a
Conservation Collier Property Summary Report dated March 2025,
there are wetlands on the parcel. According to the U.S. Fish &
Wildlife Service Wetlands Mapper, the parcel consists entirely of
Freshwater Forested/Shrub Wetlands. An expired 2006 listing
reports the first 200 feet of the lot are uplands according to an
informal wetland determination. The wetland determination was not
attached to the listing. According to the Conservation Collier
Property Summary, the parcel consists of mixed wetland hardwoods.
The estimated cost to remove exotics is $2,600 with ongoing annual
costs estimated at $450. Cabbage Palm thinning is estimated at
$1,200.
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.
Current Use Legally Conforming The subject is legal and conforming use.
Zoning Change Likely A zoning change is unlikely.
Minimum Lot Area (Acres) 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
Page 2421 of 6641
ECHAVARRIA PARCEL SITE ANALYSIS
Page 34
Maximum Building Height (Feet) 30
Future Land Use Designation Estates Designation - Residential Estates Subdistrict
Zoning Map
Page 2422 of 6641
ECHAVARRIA PARCEL SITE ANALYSIS
Page 35
Aerial
Page 2423 of 6641
ECHAVARRIA PARCEL SITE ANALYSIS
Page 36
Wetlands Mapper
Page 2424 of 6641
ECHAVARRIA PARCEL SITE ANALYSIS
Page 37
Flood Map
Subject
Page 2425 of 6641
ECHAVARRIA PARCEL SITE ANALYSIS
Page 38
Site Photographs
42nd Avenue SE (narrow gravel road) – Easterly
(Photo Taken on January 4, 2026)
42nd Avenue SE (narrow gravel road) – Westerly
(Photo Taken on January 4, 2026)
Page 2426 of 6641
ECHAVARRIA PARCEL SITE ANALYSIS
Page 39
Site Photographs
Typical Site View
(Photo Taken on January 4, 2026)
Typical Site View
(Photo Taken on January 4, 2026)
Page 2427 of 6641
ECHAVARRIA PARCEL SITE ANALYSIS
Page 40
Site Photographs
Typical Site View
(Photo Taken on January 4, 2026)
Page 2428 of 6641
ECHAVARRIA PARCEL REAL ESTATE TAXES AND ASSESSMENTS
Page 41
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
2025 are as follows:
ASSESSED VALUES
Tax Identification Number 41660040003
Land Assessed Value $80,825
Building Assessed Value $0
10% Assessment Cap -$55,862
Total Assessed Value $24,963
Totals
Total Land Assessed Value $80,825
Total Building Assessed Value $0
10% Assessment Cap -$55,862
Total Assessment $24,963
Total Assessment per Square Foot $0.19
Total Assessment per Land Acre $8,191
Rates, Taxes, More
Tax Rate 2.10%
Ad Valorem Tax Amount $525
Special Assessment Amount $0
Special Assessment Comments None
Total Tax Liability $525
Property Tax Comments The 2024 and 2025 taxes have been paid. The
School Board millage is applied to the uncapped
assessed value.
The tax assessment for subject property is currently $8,191 per acre, or $26,522 per acre
excluding the assessment cap. Based on our valuation analysis, the subject’s assessment
appears reasonable.
Page 2429 of 6641
ECHAVARRIA PARCEL HIGHEST AND BEST USE
Page 42
HIGHEST AND BEST USE
Highest and best use may be defined as:
The reasonably probable use of property that results in the highest value. The four
criteria the highest and best use must meet are legal permissibility, physical
possibility, financial feasibility, and maximum productivity. 1
▪ Physically possible for the land to accommodate the size and shape of the
ideal improvement.
▪ Legally permissible under the zoning regulations, building codes,
environmental regulations, and other restrictions that apply to the site. A
property use that is either currently allowed or most probably allowable.
▪ Financially feasible to generate sufficient income to support the use.
▪ Maximally productive, or capable of producing the highest value from
among the permissible, possible, and financially feasible uses.
Highest and Best Use As Vacant
Physically Possible
The subject site is 3.05 acres or 132,750 square feet with 150 feet of frontage along 42nd
Avenue SE (narrow gravel road). 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 rectangular.
The site is located in a FEMA flood zone AH and AE area per FEMA Flood Map
Number: 12021C 0445H, dated May 16, 2012, which is classified as a flood hazard area.
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 include 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.
Construction of a single-family residence will require an environmental resource permit
with associated mitigation purchases.
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.
1 The Dictionary of Real Estate Appraisal 7th ed. (Chicago: Appraisal Institute, 2022)
Page 2430 of 6641
ECHAVARRIA PARCEL HIGHEST AND BEST USE
Page 43
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 as demand declined due to continued increases in interest rates. Pricing
generally stabilized in 2025 and is projected to remain fairly stable through 2026.
The recent 50 basis point decrease and subsequent 25 basis point decreases in the federal
funds rate, are expected to further stabilize the commercial market and potentially
increase demand for both residential and commercial property. The Federal Reserve cut
rates by 25 basis points in September 2025, the first cut of the year, and another 25 basis
points in October 2025 and December 2025. According to the Fed’s dot plot,
policymakers are split with a majority projecting just one cut in 2026, down from
expectations earlier in the year.
On this basis, barring unforeseen changes in the market, a well-designed single-family
home that is appropriately marketed and priced, should be received favorably by the
market.
It is noted, the substantial costs associated with permitting and fill typically result in a
lower price per acre for wetland parcels than upland parcels in order to make
development financially feasible. If the costs make development financially unfeasible or
permitting is not achievable; conservation use becomes the only financially feasible use.
Maximally Productive
The maximally productive land use yields the highest value of the possible uses. 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
No improvements are situated on the site. Therefore, a highest and best use analysis as
improved is not applicable.
Most Probable Buyer
Considering the size and location of the property, the most probable buyer is an owner-
user or builder for single-family development or wetland mitigation. Conservation Collier
is also a probable buyer as a multi-parcel conservation project.
Page 2431 of 6641
ECHAVARRIA PARCEL VALUATION METHODOLOGY
Page 44
VALUATION METHODOLOGY
Three basic approaches may be used to arrive at an estimate of market value. They are:
1. The Cost Approach
2. The Sales Comparison Approach
3. The Income Approach
Cost Approach
The Cost Approach estimates the current cost to construct the existing structure including
an entrepreneurial incentive, depreciation, and the estimated land value. This approach is
particularly applicable when the improvements represent the highest and best use of the
land and are relatively new. It is also applicable when the property has unique or
specialized improvements for which there is little or no sales data from comparable
properties.
Sales Comparison Approach
The Sales Comparison Approach compares sales of similar properties with the subject
property. Each comparable sale is adjusted for its inferior or superior characteristics. The
values derived from the adjusted comparable sales form a range of value for the subject.
By process of correlation and analysis, a final indicated value is derived. This approach is
most reliable in an active market, and is least reliable when valuing a property for which
no direct comparable sales data is available.
Income Approach
The Income Approach converts the anticipated flow of future benefits (cash flows and
reversion) to a present value estimate through a capitalization and or a discounting
process. This approach generally reflects a typical investor’s perception of the
relationship between the potential income of a property and its market value.
Final Reconciliation
The appraisal process concludes with the Final Reconciliation of the values derived from
the approaches applied for a single estimate of market value. The reconciliation of the
approaches is based on an evaluation of the quantity and quality of the available data in
each approach. Furthermore, different properties require different means of analysis and
lend themselves to one approach over the others.
Page 2432 of 6641
ECHAVARRIA PARCEL VALUATION METHODOLOGY
Page 45
ANALYSES APPLIED
A cost analysis was considered and was not developed because there are no
improvements that contribute value to the property.
A sales comparison analysis was considered and was developed because typically this is
the most appropriate approach for the valuation of vacant land. This approach is
applicable to the subject because there is an active market for similar properties and
sufficient sales data is available for analysis.
An income analysis was considered and was not developed because the subject is not
likely to generate rental income as vacant land.
Page 2433 of 6641
ECHAVARRIA PARCEL SALES COMPARISON APPROACH
Page 46
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.
Land Comparables
I 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 price per acre as the appropriate unit of
comparison because market participants typically compare sale prices and property
values on this basis.
Comp Address Date Price
Comp City Acres Price Per Acre
Subject 42nd Avenue SE 1/4/2026
Subject Naples 3.05
1 4238 28th Ave SE 12/12/2025 $62,500
1 Naples 2.73 $22,917
2 36th Ave SE Tract 46 10/31/2025 $37,000
2 Naples 1.59 $23,257
3 2680 26th Ave SE 10/16/2025 $110,000
3 Naples 2.73 $40,333
4 24th Ave SE Tract 79 12/11/2025 $100,000
4 Naples 2.27 $44,000
Heavily treed parcel located along the south side of 36th Ave SE. No informal wetland
determination on file. FWS National Wetland Inventory wetlands mapper shows site is
100% Freshwater Forested/Shrub Wetlands. Listed in February 2022 for $75,000 and
reduced in December 2022 to $65,000. Listing expired in May 2025. Re-listed in July
2025 for $65,000.
Heavily treed parcel located along the south side of 28th Ave SE. No informal wetland
determination on file. FWS National Wetland Inventory wetlands mapper shows site is
100% Freshwater Forested/Shrub Wetlands. Listed in December 2023 for $79,900 and
increased to $109,900 in January 2025. Then decreased multiple times, finally to $69,900
on April 20, 2025.
Heavily treed parcel located along the south side of 26th Ave SE. Informal Wetland
Determination dated 9/10/2025 prepared by Tropical Environmental Consultants shows
2.12 acres (78%) wetlands located in the back of the site with the upland area in the
front. Listed on September 23, 2025 for $110,000. Seller provided $1,500 concession.
Sale Comments
Heavily treed parcel located along the north side of 24th Ave SE. Informal Wetland
Determination dated 7/22/2022 prepared by Wetland Consultants shows 0.98 acres
(43%) wetlands located toward the back of the site with the upland areas in the front
and middle. Lot was purchased in February 2024 for $77,500 and then relisted in
January 2025 for $249,900. Price was decreased to $190,000 in April 2025 and again to
$129,900 in August 2025.
Page 2434 of 6641
ECHAVARRIA PARCEL SALES COMPARISON APPROACH
Page 47
Comparables Map
Page 2435 of 6641
ECHAVARRIA PARCEL SALES COMPARISON APPROACH
Page 48
Comparables Map - Aerial
Page 2436 of 6641
ECHAVARRIA PARCEL SALES COMPARISON APPROACH
Page 49
Analysis Grid
The above sales have been analyzed and compared with the subject property. I have
considered adjustments in the areas of:
Effective Sale Price
This takes into consideration unusual conditions involved in the
sale that could affect the sales price, such as excess land, non-
realty components, commissions, or other similar factors.
Usually the sale price is adjusted for this prior to comparison to
the subject.
Real Property Rights Property rights dissimilar to the subject which affect value.
Financing Terms
Favorable or unfavorable seller financing, or assumption of
existing financing.
Conditions of Sale
Circumstances that atypically motivate the buyer or seller, such
as 1031 exchange transaction, assemblage, or forced sale.
Market Conditions Inflation or deflation since sale date due to economic influences
Location Market or submarket area influences on sale price; surrounding
land use influences.
Physical Characteristics Attributes such as size, shape, utilities, frontage, zoning, etc.
On the following page is a sales comparison grid displaying the subject property, the
comparables and the adjustments applied.
Page 2437 of 6641
ECHAVARRIA PARCEL SALES COMPARISON APPROACH
Page 50
Name
Address
City
Date
Price
Price Adjustment
Adjusted Price
Acres
Acre Unit Price
Property Rights Fee Simple 0.0%Fee Simple 0.0%Fee Simple 0.0%Fee Simple 0.0%
Financing Cash 0.0%Cash 0.0%Cash 0.0%Conventional 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 1/4/2026 0.0%
Location
% Adjustment
$ Adjustment
Acres
% Adjustment
$ Adjustment
Environmental Issues
% Adjustment
$ Adjustment
Topography
% Adjustment
$ Adjustment
Zoning
% Adjustment
$ Adjustment
Net Adjustments
Gross Adjustments
0.0%
$23,257
-20.0%
20.0%
$22,917 $35,200$31,827
0%0%
0.0%
$0
-20.0%
0.0%20.0%
0.0%
Adjusted Acre Unit Price
E
$0
0%
$0
100% Wetlands
1.59
$0
$0
Heavily Treed Heavily Treed
0%
$0
Heavily Treed
3.05
$0
0%
0.0%
$0
2.73
0%
Similar
0.0%
$23,257
0%
Adjusted Acre Unit Price $22,917
Average Similar
$23,257
Fee Simple
Transaction Adjustments
Adjusted Acre Unit Price $22,917 $39,783
Naples
42nd Avenue SE 36th Ave SE Tract 46
NaplesNaples
$39,783
2.73
$37,000 $108,500
2680 26th Ave SE
2.73
-$1,500
10/16/2025
$110,000$62,500
$0 $0 $0
3.05
$22,917
1.59
Naples
4238 28th Ave SE 36th Ave SE Tract 46
4238 28th Ave SE
$0 $62,500
Comp 2
$23,257
Echavarria Parcel
Land Analysis Grid Comp 1 Comp 4
24th Ave SE Tract 79
2680 26th Ave SE
Comp 3
Similar
0%
100% Wetlands
$0
$0
(E) Estates
0%
(E) Estates
$0
$0
(E) Estates
$39,783
2.73
0%0%
78% Wetlands Back
0%
-$7,957
0%
2.27
Similar
0%
-$8,800
100% Wetlands
$0
$0
Heavily Treed
$0
-20%-20%0%
(E) Estates
24th Ave SE Tract 79
$44,000
0.0%
$100,000
$100,000
Naples
12/11/2025
2.27
43% Wetlands Back
$44,000
$0
0%
$0
10/31/20251/4/2026 12/12/2025
$37,000
$0
0.0%
0%
$44,000
0%
$0
Heavily Treed
Page 2438 of 6641
ECHAVARRIA PARCEL SALES COMPARISON APPROACH
Page 51
Comparable Land Sale Adjustments
Price Adjustment
The seller of Comparable 3 provided a $1,500 concession at closing. It is adjusted
downward accordingly.
Property Rights
All of the comparables transferred in fee simple interest; therefore, no adjustments for
property rights are required.
Financing
All of the comparable sales had market orientated financing or were cash transactions;
therefore, no adjustments for financing are required.
Conditions of Sale
All of the comparable sales were arm’s length transactions; therefore, no adjustments for
conditions of sale are required.
Economic Trends
The following graph shows comparable residential land sales on the Southwest Florida
MLS within the surrounding market area over the past four months.
The survey included 23 transactions. Prices per acre ranged from $21,245 to $80,000 per
acre and averaged $51,255 per acre. The graph indicates a relatively stable trend sales
prices over the past four months. However, it is noted this is unadjusted raw data and
does not relate directly to the subject.
Page 2439 of 6641
ECHAVARRIA PARCEL SALES COMPARISON APPROACH
Page 52
Based on the previous analysis a market conditions adjustment is not applied.
Location
The comparables are all located within the immediate market area. The subject is located
on a narrow gravel road; whereas the comparables are all located on asphalt roads. This is
considered in the final reconciliation.
Size
For this analysis, all of the comparable sales are relatively similar in terms of size;
therefore, no adjustments are required.
Environmental Issues
According to a Conservation Collier Property Summary Report dated March 2025, there
are wetlands on the parcel. According to the U.S. Fish & Wildlife Service Wetlands
Mapper, the parcel consists entirely of Freshwater Forested/Shrub Wetlands. An expired
2006 listing reports the first 200 feet of the lot are uplands according to an informal
wetland determination. The wetland determination was not attached to the listing.
According to the Conservation Collier Property Summary, the parcel consists of mixed
wetland hardwoods. The estimated cost to remove exotics is $2,600 with ongoing annual
costs estimated at $450. Cabbage Palm thinning is estimated at $1,200.
No informal wetland determinations were on file for Comparables 1 and 2; however,
according to the U.S. Fish & Wildlife Service Wetlands Mapper they are both 100%
Freshwater Forested/Shrub Wetlands similar to the subject; therefore, no adjustments are
required.
An Informal Wetland Determination for Comparable 3 shows approximately 78%
wetlands located toward the back of the site and an Informal Wetland Determination for
Comparable 4 shows approximately 43% wetlands located in the back of the site. Both
comparables are superior to the subject as the uplands are near the front of the site which
provides developable area without wetland impacts. They are adjusted downward
accordingly.
The comparables are all heavily treed and likely have similar exotics; therefore, no
additional adjustments are made for the removal of exotics or Cabbage Palm thinning.
Topography
The subject and the comparables are all heavily treed; therefore, no adjustments are
required.
Zoning
All of the comparables are similar in terms of zoning; therefore, no adjustments are
required.
Page 2440 of 6641
ECHAVARRIA PARCEL SALES COMPARISON APPROACH
Page 53
Sales Comparison Approach Conclusion
All of the value indications have been considered. Comparable 2 is closest to the subject
in terms of location. Comparables 1 and 4 are the most recent transactions but
Comparable 4 has superior upland areas. I also consider the subject location along a
gravel road as well as the fact the front 200 feet of the site (23%) may be uplands.
Finally, I consider the sale of a 3.35 acre parcel, located just east of the subject parcel
along the same gravel road, 42nd Ave SE. The parcel was listed in March 2025 for
$286,000 and reduced to $140,000 in April 2025. It sold in May 2025 for $130,000 or
$38,806 per acre. An informal wetland determination was not on file; however, according
to the U.S. Fish & Wildlife Service Wetlands Mapper it is 100% Freshwater
Forested/Shrub Wetlands similar to the subject. A 2003 listing of the parcel noted the lot
had 51% wetlands according to an Informal Wetland Determination Report.
Based on the preceding analysis, I arrive at my final reconciled per acre value of $30,000.
4 % Δ
0.00%
-20.00%
-12.89%
Reconciled Final Value:
Reconciled Value/Unit Value:
Indicated Value:
$30,000
3.05
$91,426
$90,000
Land Value Ranges & Reconciled Values
Subject Size:
High:
Average:
Low:
Number of Comparables:Unadjusted Adjusted
$22,917
$35,200
$28,300
$44,000
$32,489
$22,917
Page 2441 of 6641
ECHAVARRIA PARCEL RECONCILIATION
Page 54
RECONCILIATION
The process of reconciliation involves the analysis of each approach to value. The
quantity and quality of data applied the significance of each approach as it relates to
market behavior and defensibility of each approach are considered and weighed. Finally,
each is considered separately and comparatively with each other. As discussed
previously, we use only the sales comparison approach in developing an opinion of value
for the subject. The cost and income approaches are not applicable, and are not used.
FINAL VALUE CONCLUSION
Based on the data and analyses developed in this appraisal, I have reconciled to the
following value conclusion(s), as of January 4, 2026, subject to the Limiting Conditions
and Assumptions of this appraisal.
VALUE CONCLUSIONS
Appraisal Premise Interest Appraised Date of Value Value Conclusion
Market Value, As Is Fee Simple January 4, 2026 $90,000
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: None.
Exposure and Marketing Times
Exposure time is always presumed to precede the effective date of the appraisal and is the
length of time the subject property would have been exposed for sale in the market had it
sold on the effective valuation date at the concluded market value. Marketing time is an
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 10-12 months.
Page 2442 of 6641
ECHAVARRIA PARCEL CERTIFICATION
Page 55
CERTIFICATION
I certify that, to the best of my knowledge and belief:
1. The statements of fact contained in this report are true and correct.
2. The reported analyses, opinions and conclusions are limited only by the reported
assumptions and limiting conditions, and are my personal, unbiased professional
analyses, opinions and conclusions.
3. I have no present or prospective interest in the property that is the subject of this
report, and have no personal interest with respect to the parties involved.
4. I have no bias with respect to the property that is the subject of this report or to the
parties involved with this assignment.
5. Our engagement in this assignment was not contingent upon developing or
reporting predetermined results.
6. Our compensation for completing this assignment is not contingent upon the
development or reporting of a predetermined value or direction in value that favors
the cause of the client, the amount of the value opinion, the attainment of a
stipulated result, or the occurrence of a subsequent event directly related to the
intended use of this appraisal.
7. The reported analyses, opinions, and conclusions were developed, and this report
has been prepared, in conformity with the requirements of the Code of Professional
Ethics & Standards of Professional Appraisal Practice of the Appraisal Institute.
8. My reported analyses, opinions, and conclusions were developed, and this report
has been prepared, in conformity with the Uniform Standards of Professional
Appraisal Practice
9. The use of this report is subject to the requirements of the Appraisal Institute
relating to review by its duly authorized representatives.
10. Rachel M. Zucchi, MAI, CCIM has made an inspection of the subject property.
11. No one provided significant real property appraisal assistance to the person signing
this certification.
12. We have experience in appraising properties similar to the subject and are in
compliance with the Competency Rule of USPAP.
Page 2443 of 6641
ECHAVARRIA PARCEL
Page 56
13. This appraisal is not based on a requested minimum valuation, a specific valuation,
or the approval of a loan.
14. We have not relied on unsupported conclusions relating to characteristics such as
race, color, religion, national origin, gender, marital status, familial status, age,
receipt of public assistance income, handicap, or an unsupported conclusion that
homogeneity of such characteristics is necessary to maximize value.
15. Rachel M. Zucchi, MAI, CCIM has not performed any services, as an appraiser or
in any other capacity, regarding the property that is the subject of this report within
the three-year period immediately preceding acceptance of this assignment.
16. As of the date of this report, Rachel M. Zucchi, MAI, CCIM has completed the
continuing education program for Designated Members of the Appraisal Institute.
Rachel M. Zucchi, MAI, CCIM
Florida State-Certified General Real Estate Appraiser RZ2984
rzucchi@rklac.com; Phone 239-596-0801
Page 2444 of 6641
ECHAVARRIA PARCEL ASSUMPTIONS AND LIMITING CONDITIONS
Page 57
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 2445 of 6641
ECHAVARRIA PARCEL ASSUMPTIONS AND LIMITING CONDITIONS
Page 58
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 2446 of 6641
ECHAVARRIA PARCEL ASSUMPTIONS AND LIMITING CONDITIONS
Page 59
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 2447 of 6641
ECHAVARRIA PARCEL ASSUMPTIONS AND LIMITING CONDITIONS
Page 60
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 2448 of 6641
ECHAVARRIA PARCEL ADDENDA - APPRAISER QUALIFICATIONS
ADDENDA
Page 2449 of 6641
ECHAVARRIA PARCEL ADDENDUM A - APPRAISER QUALIFICATIONS
ADDENDUM A
APPRAISER QUALIFICATIONS
Page 2450 of 6641
ECHAVARRIA PARCEL ADDENDUM A - APPRAISER QUALIFICATIONS
4500 Executive Drive, Suite 230
Naples, FL 34119-8908
Phone: 239-596-0800
www.rklac.com
RKL Appraisal and Consulting, PLC
COMPANY PROFILE:
RKL Appraisal and Consulting, PLC was founded in 2009 by three designated Members
of the Appraisal Institute. It is our mission to maximize our combined appraisal
experience to provide our clients with the highest quality of Real Estate Appraisal and
Consulting Services.
Rachel M. Zucchi, MAI, CCIM K.C. Lowry, MAI, CPA Louis C. Bobbitt, MAI
Partner / Managing Director Partner Senior Partner (Retired)
rzucchi@rklac.com klowry@rklac.com lbobbitt@rklac.com
BUSINESS FOCUS:
Practice is focused on community/neighborhood shopping centers, retail and office
buildings, industrial warehouse/distribution buildings, residential and commercial
condominium and subdivision projects, hotels and motels, vacant land and special
purpose properties. Specialized services include appraisal review, business valuations,
market feasibility studies, acquisition/disposition counseling, and litigation support in
connection with real estate transactions including bankruptcy, eminent domain, estate
valuations, and matrimonial and equitable distribution. Clients served include banks and
financial institutions, developers and investors, law firms, government, and property
owners.
Page 2451 of 6641
ECHAVARRIA PARCEL 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 (2023-2026)
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 2452 of 6641
ECHAVARRIA PARCEL ADDENDUM A - APPRAISER QUALIFICATIONS
Page 2453 of 6641
ECHAVARRIA PARCEL ADDENDUM B - PROPERTY INFORMATION
ADDENDUM B
PROPERTY INFORMATION
Page 2454 of 6641
$0
$0
$25,000
$0
$7,500
$7,500
$0
Collier County Property Appraiser
Summary
Parcel ID 41660040003 Site Location NAPLES 34117
Name / Address ECHEVARRIA, ANDRES
3006 NORA AVE N
City LEHIGH ACRES State FL Zip 33971
Legal GOLDEN GATE EST UNIT 92A WEST 150FT OF TRACT 113
Sub./Condo 355000 - GOLDEN GATE EST UNIT 92A
Use Code 0 - VACANT RESIDENTIAL Millage Area 306 Municipality UNINCORPORATED
Map No.Strap No.Section Township Range Acres *Estimated
4D32 355000 113 04D32 32 49 28 3.05
Latest Sales History
(Not all Sales are listed due to Confidentiality)
Date Book-Page Vacant / Improved Qualified Amount
12/11/23 6327-1341 V N
01/20/17 5407-2069 V N
08/05/05 3861-1328 V N
02/16/05 3735-1461 V N
05/05/91 1615-2161 I Y
05/01/91 1516-2161 I Y
11/01/88 1397-2231 I N
2025 Certified Tax Roll
(Subject to Change)
Just Values Amount
Land $80,825
(=) Total Just $80,825
Assessment Reductions Applies To
(-) Non-Homestead 10%Non-School $55,862
Assessed Values
(=) Non-School Assessed $24,963
(=) School Assessed $80,825
Taxable Values Millage Rates
(=) Non-School Taxable 7.2568 $24,963
(=) School Taxable 4.2490 $80,825
Tax Amounts
Ad Valorem Taxes $524.57
(=) Total Tax $524.57
Important: This is not a tax bill. Do not rely on current taxes to estimate taxes after a change in ownership. A transfer may
significantly affect the taxable value due to loss of exemptions, reset of Save Our Homes or the 10% Cap, and/or market
changes. Use our Tax Estimator to estimate taxes under new ownership. Values reflect conditions as of January 1st each
year and may differ from the actual tax bill due to millage changes or additional non-ad valorem assessments. For the most
accurate and up-to-date tax information, please visit the Collier County Tax Collector’s Office.
Page 2455 of 6641
Collier County Property Appraiser
Detail
Parcel ID 41660040003 Site Location NAPLES 34117
Permits (Provided for reference purposes only. )
Tax Yr Issuer Permit #Issued Date CO Date Temp CO Final Bldg Type
Land
#Calc Code Units
10 ACREAGE 3.05
Building/Extra Features
#Year Built Description Area Adj Area
Page 2456 of 6641
Page 2457 of 6641
Page 2458 of 6641
ECHAVARRIA PARCEL ADDENDUM C - COMPARABLE DATA
ADDENDUM C
COMPARABLE DATA
Page 2459 of 6641
ECHAVARRIA PARCEL ADDENDUM C - COMPARABLE DATA
ID 11568 Date 12/12/2025
Name 4238 28th Ave SE Price $62,500
Address 4238 28th Ave SE Price Per Acre $22,917
City Naples Transaction Type Sold
Grantor Kathryn A. Schweitzer Financing Cash
Grantee Red Oaks Homes, LLC Property Rights Fee Simple
Tax ID
Days on Market 1.7 years Sale Verification Date 1/7/2026
Book/Page or Reference
Doc
Instr #6768374 Sale Verification Source David Huff w/ Sun Realty
USA, Inc.
Conditions of Sale
Arm's length Sale History No arm's length transactions
in previous 3 years
Acres 2.73 Topography Heavily Treed
Land SF 118,800 Zoning (E) Estates
Primary Frontage Feet 180 Dimensions 180' x 660'
Primary Frontage Street 28th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
41440920000
Land Comparable 1
Transaction
Site
Heavily treed parcel located along the south side of 28th Ave SE. No informal wetland determination on file. FWS
National Wetland Inventory wetlands mapper shows site is 100% Freshwater Forested/Shrub Wetlands. Listed in
December 2023 for $79,900 and increased to $109,900 in January 2025. Then decreased multiple times, finally to $69,900
on April 20, 2025.
Comments
Page 2460 of 6641
ECHAVARRIA PARCEL ADDENDUM C - COMPARABLE DATA
ID 11569 Date 10/31/2025
Name 36th Ave SE Tract 46 Price $37,000
Address 36th Ave SE Tract 46 Price Per Acre $23,257
City Naples Transaction Type Sold
Grantor Carmen Carrion Financing Cash
Grantee 2997 P&A Naples, LLC Property Rights Fee Simple
Tax ID
Days on Market 3 months Sale Verification Date 1/7/2026
Book/Page or Reference
Doc
Instr #6748129 Sale Verification Source Karla Petty w/ Coldwell
Banker Realty
Conditions of Sale
Arm's length Sale History No arm's length transactions
in previous 3 years
Acres 1.59 Topography Heavily Treed
Land SF 69,300 Zoning (E) Estates
Primary Frontage Feet 105 Dimensions 105' x 660'
Primary Frontage Street 36th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
41614240008
Heavily treed parcel located along the south side of 36th Ave SE. No informal wetland determination on file. FWS
National Wetland Inventory wetlands mapper shows site is 100% Freshwater Forested/Shrub Wetlands. Listed in
February 2022 for $75,000 and reduced in December 2022 to $65,000. Listing expired in May 2025. Re-listed in July 2025
for $65,000.
Land Comparable 2
Comments
Site
Transaction
Page 2461 of 6641
ECHAVARRIA PARCEL ADDENDUM C - COMPARABLE DATA
ID 11570 Date 10/16/2025
Name 2680 26th Ave SE Price $110,000
Address 2680 26th Ave SE Price Per Acre $40,333
City Naples Transaction Type Sold
Grantor Amy & John M Radosevich Financing Cash
Grantee Sognare, LLC Property Rights Fee Simple
Tax ID
Days on Market 2 days Sale Verification Date 1/7/2026
Book/Page or Reference
Doc
Instr #6742873 Sale Verification Source Izzy Cisneros w/ Saggio
Realty, Inc
Conditions of Sale
Arm's length Sale History No arm's length transactions
in previous 3 years
Acres 2.73 Topography Heavily Treed
Land SF 118,800 Zoning (E) Estates
Primary Frontage Feet 180 Dimensions 180' x 660'
Primary Frontage Street 26th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
41341680009
Transaction
Land Comparable 3
Heavily treed parcel located along the south side of 26th Ave SE. Informal Wetland Determination dated 9/10/2025
prepared by Tropical Environmental Consultants shows 2.12 acres (78%) wetlands located in the back of the site with
the upland area in the front. Listed on September 23, 2025 for $110,000. Seller provided $1,500 concession.
Site
Comments
Page 2462 of 6641
ECHAVARRIA PARCEL ADDENDUM C - COMPARABLE DATA
ID 11573 Date 12/11/2025
Name 24th Ave SE Tract 79 Price $100,000
Address 24th Ave SE Tract 79 Price Per Acre $44,000
City Naples Transaction Type Sold
Grantor Kathy Claros and Manuel
Padron
Financing Conventional
Grantee Lisandra Rivero Jacomino Property Rights Fee Simple
Tax ID
Days on Market 10 months Sale Verification Date 1/7/2026
Book/Page or Reference
Doc
Instr #6762995 Sale Verification Source Diana Chavez w/ Mato Realty,
LLC
Conditions of Sale Arm's length Sale History 2/2024 - $77,500
Acres 2.27 Topography Heavily Treed
Land SF 99,000 Zoning (E) Estates
Primary Frontage Feet 150 Dimensions 150' x 660'
Primary Frontage Street 24th Ave SE Shape Rectangular
Utilities None Topography Heavily Treed
41227000004
Comments
Heavily treed parcel located along the north side of 24th Ave SE. Informal Wetland Determination dated 7/22/2022
prepared by Wetland Consultants shows 0.98 acres (43%) wetlands located toward the back of the site with the
upland areas in the front and middle. Lot was purchased in February 2024 for $77,500 and then relisted in January 2025
for $249,900. Price was decreased to $190,000 in April 2025 and again to $129,900 in August 2025.
Site
Transaction
Land Comparable 4
Page 2463 of 6641