Further Details From Recent Professional Appraisal Of The Subject Property |
The five completed codominiun units: |
Unit # |
Bedrooms/Baths |
Sq. Ft. Interior |
Appraisal Value per Unit |
Appraised Value per sq. ft./interior |
101 |
2/2.5 |
2,124 |
$245,000.00 |
$115.00 per sq. ft. |
102 |
3/3.5 |
2,292 |
$240,000.00 |
$104.00 per sq. ft. |
103 |
2/2.5 |
2,001 |
$225,000.00 |
$112.00 per sq. ft. |
104 |
2/2.5 |
1,724 |
$205,000.00 |
$119.00 per sq. ft. |
105 |
2/2.5 |
2,097 _________ |
$245,000.00 ______________ |
$117.00 per sq. ft. _______________ |
10,238 total sq. ft. |
$1,160,000.00 total current appraisal value |
$113.00 per sq. ft. average |
The remaining 8 undeveloped lots together containing
approximately 2.26 acres of land with City of Georgetown
approvals for an additional 38 condominium units
Total Appraised Value For 8 Additional Lots |
Appraised Value Per Additional Proposed Condominium Unit |
Approximate Appraised Value Per Additional |
$1,700,000.00 |
$44,737.00 / unit |
$21.84 / sq. ft. * |
* Based on average unit size of the 38 yet to be constructed condominium units of 2,048 sq. ft. per unit, total additional sq. ft. of new building extimated to be 77,827 sq. ft.
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