 he commercial real estate included
in the proposed sale of Lumen Foods is
introduced in greater detail on the opening
property evaluation page.
On that page, links are provided to show that the
subject properties appraised for a total of
$353,000 in October, 1997.
 The purpose
of this page is to provide an update for an
appraisal ordered by Hibernia (now Capital One)
in October, 2006 and released on November 1, 2006 --
updating what is essentially an outdated
nine-year old appraisal.
This appraisal
does not include the construction of the warehouse
which now carries the address, 408 Scott Street,
for which Herbologics has/is paying nearly
$30,000, so
the $119,805 portion of the
appraisal (for 2200/2202 Hodges, see column at right)
is felt to be considerably understated
as it exceeds the 1998 appraisal by only $7,805 and does
not include the new warehouse.
Herbologics'
management is in general agreement with the $361,875
portion of the appraisal.
|
|
| 1 |
409 Scott Street |
$361,875.00 |
|
|
| 2 |
2116-2128 Hodges Street
(included w/409 Scott above) |
$ 0 |
|
|
| 3 |
2200-2202 Hodges Street |
$119,805.00 |
| |
Total |
$481,680.00 |
|
| Appraisal #1 |
| 1 |
409 Scott St. &
2116-2128 Hodges St. |
$ 361,875 |
Cover Sheet -- simply
states client name and location of property: 2116, 2118, 2120, (2122 missing - typo),
2124, 2126, and 2128 Hodges Street, and 409 Scott Street.
2nd Cover -- states
subject property, comparable properties examined and SRG Valuations'
opinion as to current market value.
3nd Cover -- broker
ends the open pages with his signature.
Map -- ...
of surrounding market area. (Scanned in landscape mode).
Address of Comp Properties -- ...
list of properties used in arriving at appraisal value.
First Comp: 1202 Kirkman.
Second Comp: 1814 E. Prien Lake.
Third Comp: 4300 Legion.
|
| Appraisal #2 |
| 3 |
2200-2202
Hodges Street |
$119,805 |
Cover Sheet -- simply
states client name and location of property: 2200-2202 Hodges Street.
2nd Cover -- states
subject property, comparable properties examined and SRG Valuations' opinion
as to current market value.
3nd Cover -- broker/appraiser
ends the open pages with his signature.
Map -- ...
of surrounding market area. (Scanned in landscape mode).
Address of Comp Properties --
... list of properties used in arriving at appraisal value.
First Comp: 2650 Common.
Second Comp: 807 16th St.
Third Comp: 315 Alamo St.
|
| |
Total |
$481,680 |
|
