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The total value for the subject's improved parcel, is $305,000. This is divided as follows: Land: $ 42,000 445,500 Office Building: $ 49,000 Shop Building: $ 64,000 Storage Building: $ 95,000 Site Improvements: $ 55.000 TOTAL: $305,000 - $308,500, say $309,000 Discussion on. Market Approach: We have considered all sales in Washington and Anoka Counties, as well as southern Chisago County (Wyoming). All sales from 1/1/94 were researched, with primary emphasis on buildings of similar size and use. The most applicable are summarized as follows: 1.) 140 Quail Street, Mahtomedi. This property sold 1/95 for $270,000, or $33.67 /square foot. The building is 8,019 square feet and was constructed in 1948. The building overlooks a pond. There were many newer updates, including a loading dock, 3 bathrooms, 1,056 square foot store room, 35 parking stalls, air conditioning, and a lunch room. The lower level is a walk -out. The site is zoned B -2. The lot is 1.1 acres and is serviced with city water and sewer. The terms were cash equivalent, with new conventional financing. This comparable is superior to the subject is location, but inferior in age. Condition is approximately similar. This building has more versatile retail and office use potential. A 3% time adjustment per annum applies. 2.) 280 West Broadway, Forest Lake. This property sold 9/94 for $172,500, or $44.92 /square foot. The building was constructed in 1938 and is a clear -span building with three entrances, making multi- tenancy possible. Broadway Avenue is a primary thoroughfare in Forest Lake. The building has 3,840 square feet, The site is 60' x 120', and is zoned B -2, commercial. Water and sewer are connected. The building sold on a contract for deed. A 3% time adjustment per annum applies. 3.) 23820 Goodview Court, Forest Lake. This property sold 1/97 for $220,000, or $61.11 /square foot. The building has 3,600 square feet and was constructed in 1991. The building is metal -clad and wood - framed. The site is 2.5 acres and is serviced by well and septic. A 3% time adjustment • per annum applies. 4.) 26796 Kettle River Blvd., Wyoming. This property sold 8/97 for $350,000, or $39.24. This is an older structure with 8,920 square feet. The building sets on 1 acre of land and is serviced with well and septic, and sets behind the Village Inn Restaurant. The site is visible from the Interstate. The building is wood frame on slab. The majority of the value is in the land. A 3% time adjustment per annum applies. 5.) 21461 Aberdeen St. Ne., East Bethel. This property sold 9/98 for $295,000, or $47.20 /square 16