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SALES COMPARISON APPROACH (Cont.) <br /> Sale No. 3 is in the city center of Cle Elum, WA. The location is superior to the subject and a <br /> 15% downward adjustment is applied to compensate for superior location. <br /> The construction quality for Sale No. 5 is slightly inferior to the subject. A 5%upward <br /> adjustment is applied to Sale No. 5 for inferior quality. <br /> Sale No. 6 is a concrete block building similar in construction to the subject, but this sale has no <br /> finished office space. An upward adjustment of 10% is applied to this sale to compensate for <br /> inferior quality. <br /> The condition of Sale No. 7 is slightly inferior to the subject and an upward adjustment of 5% is <br /> applied to this sale to compensate for the inferior condition. <br /> Sale No. 11 is located on a street with heavy traffic flow with very good commercial exposure. A <br /> downward adjustment of 20% is applied to Sale No. 11 to compensate for superior location. Sale <br /> No. 11 is also considered inferior in quality to the subject and a 10 %upward adjustment is <br /> applied to this sale to compensate for inferior quality. <br /> The average indicated value after adjustments is $142.79 per square foot. <br /> Sales No. 9-11 are the most recent sales which average $143.89 per square foot. <br /> Sales No. 4 & 5 are the most similar overall to the subject and weight is placed upon Sales No. 4 <br /> & 5 in arriving at the final estimate of value. <br /> The concluded overall value of the subject is $144.00 per square foot. <br /> 38 DAVIS APPRAISAL COMPANY <br />