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near the junction of State Highway 133 with State Highway 82. The <br /> tract has considerable frontage on Highway 133. This listing at the <br /> per acre rate of $84 ,656 is felt to be slightly inferior to subject <br /> due to its lack of land development and utilities. <br /> A data list may be found in the addenda. <br /> This data together with the data examined under Property Listings <br /> also found in the addenda led the writer to a conclusion of $2.00 <br /> per square foot or $87, 120 per acre for the land. <br /> Reproduction Cost of Buildings <br /> Two sources of data were utilized in estimating the reproduction <br /> cost of the subject buildings. These are summarized as follows: <br /> 1 . The building cost manual of the Marshall Valuation <br /> Service, prepared by the Marshall and Swift Publication <br /> Company, summarizes typical cost of warehouse structures. <br /> The costs listed on pages 15 and 17 of Section 14 were <br /> utilized in developing building cost estimates , after <br /> adjustment for date and location. <br /> 2. � The appraiser has been involved in numerous proposed <br /> construction appraisals in the area . Analyzing and <br /> comparing the developer ' s cost estimates in these <br /> assignments is useful in localizing and analyzing cost <br /> service indications for reasonableness. <br /> Accrued Depreciation <br /> As defined , accrued depreciation is the difference between current <br /> cost and current value. The improvements properly improve the site <br /> at highest and best use. Depreciation was estimated on an age life <br /> method. The effective overall age was estimated at ten years with a <br /> total economic life estimate of 50 years developing a rate of <br /> depreciation of 20%. <br /> -11 - <br />