HomeMy WebLinkAboutAPPRAISAL FOR BUILDING - 19-00649 - Mountain View Clinic - RemodelMs. Madison Reese
May 6, 2019
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The cost approach was pursued in this appraisal assignment with the cost approach being the
renovation costs to the leaseholder to convert the building from its current state as a shell retail
building into medical office space. The cost calculations representative of the value of the
leasehold improvements in the property.
It is my opinion that the market value of the subject as is in leaschold estate as of the September 15,
2019 anticipated date of completion of the tenant improvements and beginning of the lease, is:
TWO NIILLION NINE HUNDRED EIGHTY THOUSAND DOLLARS
($2,980,000)
The cost of the tenant improvements plus profit at completion is $1,210,000.
It should be emphasized there is no as is value to the leaseholder. In a current condition the
leaseholder has not value interest in the property until the tenant improvements are completed
and the sublease is executed, therefore, no as is value is reported in this appraisal.
Should you have any questions concerning this analysis, please do not hesitate to contact my office.
Respectfully submitted,
Chad L. Rigby, MAI
Idaho State -Certified General Appraiser
Certificate CGA4690 Expires 5-3-19