Deeds - 7/1/1997 - Appraisal of Dominey tract, L. Cox Survey, A-13, Commerce Plaza - 7/1/1997 ERWIN & ASSOCIATES
BERRYMAN M. ERWIN, PRESIDENT Commercial Appraiser
Professional Engineer Residential Appraiser
Master Service Appraiser(Commercial) Forest Resource Appraiser
Master Residential Appraiser Real Estate
Master Farm& Ranch Appraiser Land Development
Texas State Certified Systems Design
FIRST NATIONAL BANK,SUITE 500 TX-1320739-G Management Planning
MAILING: P.O.BOx 561 Investment Opportunities
HUNTSVILLE.TEXAS 77342-0561 Feasibility Studies
Statistical Analysis
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July 1, 1997 Business Evaluation
Mr. Gene Pipes, Manager
City of Huntsville
Huntsville, Texas 77340
RE: Letter of Appraisal
+\- 5 Acres, South side of Commerce Plaza
L. Cox Survey, A-13
Sam Dominey Tract #4
Dear Mr. Pipes:
At your request, I have visited said site and have
researched recent comparable sales in the area.
The following comparables are used in this letter
appraisal which does not conform to USPAP regulations.
COMP #1 COMP #2 COMP#3
Grantor B. Bius T.Curtis B. Bius
Grantee Parkwood Luby"s Taco Bell
Sq. . Ltd. Rest.
Date of Sale Aug 96 Feb 97 April 94
Price/S.F. $4. 01 6.77 $9. 00
SIZE 3 . 55 ac 1.866 ac .986 ac
Adjustments -$.50 -$1. 00
Frontage Hwy 30 I-45 I-45
Adjustments -$1. 00 $3 . 00 -$4 . 50
Adjusted
Price/S.F. $3 . 01 $3.27 $3 .50
Based on the above adjusted comparables, this limited
appraisal, the market value is $3 . 25/square foot.
The additional acreage just south of said +/- 5 acres will
have a current value "as is" of$0. 50/ s. f. When the proposed
road is built to loop around to the Smither overpass, the
market value should increase, depending on the size of tract,
road frontage, and depth, from $1. 00 to $2 . 00 per foot.
— /
�
6BV�YMAM M. ERWIN
STATE CERTIFIED
TX-1320739-G
MSA, MRA, MFLA, P.E.