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<br />DAHLEN & DWYER, INC. <br /> <br /> <br />ANALYSIS OF COMPARABLE LAND SALES <br /> <br />The sales used in this analysis are mostly of medium to high density residential <br />parcels located in the immediate or competitive areas. The sales range in size from <br />9,796 SF to 36,700 SF. There have been no recent sales of high density residential <br />land in the Roseville Area that would be comparable to the subject. The sales used <br />in this analysis were taken from areas felt to be competitive with the subject and are <br />considered to be the best data available. <br /> <br />Sale #1 was the sale of a similar sized parcel located on Hamline Avenue N in <br />Roseville. An upward adjustment was made under zoning to reflect the comparable's <br />single family residential zoning. <br /> <br />Sale #2 was the sale of a 13,000 SF parcel on the basis of $3.62/SF. This <br />was a rectangular shaped parcel zoned RM2 or Medium Density, Low Rise, Multi- <br />Family Residential. A downward adjustment was made for location, while an upward <br />adjustment was made for zoning. <br /> <br />Sale #3 was the sale of a 30,000 SF parcel located on Grand Avenue in St. <br />Paul and zoned RM-2 or Medium Density, Low Rise, Multiple-Family Residential. This <br />parcel was assembled for $145,000 in 1992 and resold for $200,000 in 1994. The <br />site was purchased for a 12-unit townhouse development. The location was <br />considered superior to that of the subject necessitating a downward adjustment. <br />Upward adjustments were made for size/utility and zoning. <br /> <br />Sale #4 was the sale of a 9,796 SF parcel on the basis of $3.16/SF. Zoning <br />was R-3B or Multiple Family. The location was considered slightly superior to that of <br />the subject necessitating a downward adjustment. An upward adjustment was made <br />for zoning. <br /> <br /> <br />37 <br />