Bradshaw Nursery Rd and League City Pkwy

Integra Realty Resources Houston Appraisal of Real Property Bradshaw Nursery Rd. and League City Pkwy. Vacant Land NWC Bradshaw Nursery Rd. and League City Pkwy. League City, Galveston County, Texas 77573 Prepared For: City of League City Effective Date of the Appraisal: May 5, 2015 Report Format: Restricted Appraisal Report IRR ‐ Houston File Number: 155‐2015‐2144 Bradshaw Nursery Rd. and League City Pkwy. NWC Bradshaw Nursery Rd. and League City Pkwy. League City, Texas Integra Realty Resources Houston 5 Riverway Drive
Suite 200
Houston, TX 77056
T 713.243.3300 F 713.243.3301 www.irr.com May 29, 2015 John Baumgartner Deputy City Manager City of League City 300 West Walker Street League City, TX 77573 SUBJECT: Market Value Appraisal Bradshaw Nursery Rd. and League City Pkwy. NWC Bradshaw Nursery Rd. and League City Pkwy. League City, Galveston County, Texas 77573 IRR ‐ Houston File No. 155‐2015‐2144 Dear Mr. Baumgartner: Integra Realty Resources – Houston is pleased to submit the following Restricted Appraisal Report containing an opinion of value of the fee simple interest in the referenced property. The report is intended to comply with the requirements for a Restricted Appraisal Report contained in Standards Rule 2‐2 (b) of the 2014‐2015 edition of the Uniform Standards of Professional Appraisal Practice (USPAP). As such, it presents no discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the opinion of value. The opinions and conclusions set forth in the report may not be understood properly without additional information in the appraiser’s work file. Use of the report is restricted to the client. Identification of Subject The subject is a parcel of vacant land containing an area of 0.7583 acres or 33,030 square feet. The property is zoned OS, Open Space, which permits recreational areas, utility easement areas, dedicated park and greenway areas, and marinas (certain other enumerated uses are permitted subject to the approval of a Special Use Permit by the City Council). Expossure and Marketing Times 2 Prope
erty Identification
Property Name
Address
D
Tax ID
Legal D
Description
Bradshaw
w Nursery Rd. an
nd League City PPkwy.
NWC Brad
dshaw Nursery Rd. and League City Pkwy. League Citty, Texas 77573
3
R310588, R311041, & R3 10587
7, Block 4, Secti on 2, The Oaks of Clear Creek SSubdivision, Gallveston County, Texas
Lots 35‐37
Purpose of the A
Appraisal The purpose of the
e appraisal is to develop an
n opinion of tthe market vaalue of the feee simple inteerest in the effective
the prroperty as of date of the aappraisal, Maay 5, 2015. Th
he date of thee report is Maay 29, 2015. The appraisaal is valid onlyy as of the staated effectivee date or datees. Inten
nded Use an
nd User The in
ntended use o
of the appraissal is for prop
perty disposit ion purposess. The client and sole inten
nded user is City of Leaggue City. Acco
ording to Stan
ndards Rule 2 ‐2 (b) of USPA
AP, no party o
other than th
he client may u
use a Restricted Appraisal Report. Integgra Realty Ressources – Hou
uston is not rresponsible fo
or unautthorized use o
of this report. Curre
ent Ownersship and Sales History
The owner of record is City of League City. TThe City of Leaague City purrchased the su
ubject properrty from Allsel Corp. o
on March 14, 2000, for an undisclosed pprice. The transaction is reecorded in Gaalveston Countty Clerk’s reco
ord number 2
2000012214.
To the
e best of our knowledge, n
no sale or transfer of owneership has occcurred within
n the past thrree years,, and as of the effective daate of this app
praisal, the p roperty is nott subject to aan agreementt of sale or opttion to buy, n
nor is it listed for sale. Defin
nition of Ma
arket Value Marke
et value is defined as: “The most probable price which
h a property sshould bring in a competittive and open
n market undeer all conditions requisitte to a fair salle, the buyer and seller ea ch acting pru
udently and kn
nowledgeablyy, and assum
ming the price
e is not affectted by undue stimulus. Impplicit in this d
definition is th
he consummaation of a sale
e as of a specified date and
d the passing of title from seller to buyeer under cond
ditions whereeby: 
Buyer and seller are typ
pically motivaated; 
Both partie
es are well informed or we
ell advised, annd acting in w
what they con
nsider their own best intere
ests; 
A reasonab
ble time is allowed for exp
posure in the open markett; 
Payment iss made in terms of cash in
n U.S. dollars oor in terms off financial arrrangements comparable thereto; an
nd Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. Expossure and Marketing Times 
3 The price rrepresents the normal con
nsideration foor the propertty sold unaffeected by speccial or creative fin
nancing or sales concessio
ons granted b y anyone associated with the sale.” ations, Title 12
2, Chapter I, PPart 34.42[g]]; also Interag
gency Appraissal and (Sourcce: Code of Feederal Regula
Evaluation Guidelin
nes, Federal R
Register, 75 FFR 77449, Deccember 10, 20010, page 774
472) Priorr Services We haave not perfo
ormed any services, as an aappraiser or iin any other ccapacity, regaarding the pro
operty that iss the subject of this reportt within the three‐year pe riod immediaately precedin
ng acceptancee of this assignment. Scope of Work William L. Springerr, MAI, condu
ucted an on‐site inspectionn of the propeerty on May 5
5, 2015. David
d R. Dominy, MAI, CRE,, FRICS, condu
ucted an on‐ssite inspectio n on other daates. We id
dentified the ssubject throu
ugh a legal description andd tax records, and assembled informatio
on aboutt the characte
eristics of the
e property thaat are relevannt to its probaable use and market valuee. Valua
ation Methodology The m
methodology employed in this assignme
ent is summa rized as follows: Appro
oaches to Value
Approach
Approach
Cost A
Sales C
Comparison App
proach
Income Capitalization
n Approach
Applicabilityy to Subject
Not Applicab
ble
Applicable
ble
Not Applicab
Use in As signment
Not Utilizzed
Utilized
Not Utilizzed
We ussed only the ssales comparison approach to develop an opinion o
of value for th
he subject. This properties, an
appro
oach is applicaable to the su
ubject becausse there is an active markeet for similar p
nd sufficient sales datta is available
e for analysis.
In the
e sales compaarison approach, we search
hed for sale t ransactions w
within the following param
meters: 
Location: LLeague City, TTexas 
Size: Less tthan 6 acres 
Use: Comm
mercial 
Transactio
on Date: Januaary, 2012 to p
present We re
esearched and assembled data for the m
most relevan t sales, and cconfirmed thee arms‐length
h nature of the
e sales with parties to the ttransaction o
or secondary ssources. The sales were th
hen analyzed to develop a value ind
dication for the subject. Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. Expossure and Marketing Times 4 The co
ost approach is not applicaable because there are noo improvemen
nts that contrribute value tto the prope
erty, and the income appro
oach is not ap
pplicable becaause the subjject is not likeely to generatte rental income in its current statte. Significant Apprraisal Assistance It is accknowledged
d that J. Tyler Davis made aa significant pprofessional ccontribution tto this appraisal, consissting of particcipating in the
e property inspection, connducting research on the ssubject and transaactions involvving comparable propertie
es, performingg appraisal an
nalyses, and aassisting in reeport writin
ng, under the supervision o
of the persons signing the report. Highe
est and Besst Use The highest and be
est use of the
e subject as vaacant land is iits development for comm
mercial use. The subject property iss currently zoned PS, which
h permits moostly public an
nd communitty‐related usees (including schools, libraries, hosspitals, and government ooffices). Howeever, the subject property is locate
ed along a portion of the FFM 2094 corriidor that is hoome to substantial commeercial develop
pment. Concclusion of Va
alue Value
e Conclusion
Appra isal Premise
Marke
et Value
Interesst Appraised
Fee Sim
mple
Date of Valuee
May 5, 2015
Value Conclussion
$99,,000
Extra
aordinary Assumptions and Hypotheticcal Condition
ns
The vaalue conclusio
ons are subjectt to the followi ng extraordinaary assumptioons that may afffect the assign
nment resultts. An extraord
dinary assumpttion is uncertaain informationn accepted as fact. If the ass umption is fou
und to be fal se as of the efffective date of the appraisal , we reserve thhe right to mod ify our value cconclusions.
1. Th
he subject prop
perty is currenttly zoned as an
n Open Space D
District (OS), aas are many other properties owned byy the City of Leaague City. The aappraisers were not able to ffind a sufficiennt set of examp
ples of privateely‐
ow
wned propertie
es with the OS zoning designaation. We assuume that, weree the subject property to be o
owned an
nd/or develope
ed by a privatee owner, the us able site area would be re‐zooned for comm
merical use, as are ne
earby propertie
es along Highw
way 96 (League
e City Parkway)).
The data and analyysis used to d
develop the opinion of valuue are retaineed in our worrk file. Expo
osure and M
Marketing Times Based
d on the concluded markett value stated
d previously, iit is our opiniion that the p
probable expo
osure and m
marketing times are as follo
ows: Exposure Time an
nd Marketingg Period
Expossure Time (Mon
nths)
Marketing Period (M
Months)
12
12
Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. Expossure and Marketing Times 5 Certification We ce
ertify that, to the best of o
our knowledge and belief:
1.
ments of fact contained in this report arre true and co
orrect. The statem
2.
The reportted analyses, opinions, and
d conclusionss are limited o
only by the reeported assumptio
ons and limitin
ng conditionss, and are ourr personal, im
mpartial, and u
unbiased profession
nal analyses, o
opinions, and conclusions.. 3.
We have n
no present or prospective interest in th e property th
hat is the subjject of this report and no perrsonal interesst with respecct to the partties involved.
4.
We have n
not performed
d any services, as an appraaiser or in anyy other capaccity, regardingg the property that is the sub
bject of this re
eport within tthe three‐yeaar period imm
mediately preceding acceptance of this assiggnment. 5.
We have n
no bias with re
espect to the
e property thaat is the subjeect of this rep
port or to the parties involved w
with this assignment. 6.
Our engaggement in thiss assignment was not conttingent upon developing o
or reporting predeterm
mined results.
7.
Our compe
ensation for ccompleting th
his assignmennt is not contiingent upon tthe developm
ment or reporting o
of a predetermined value or direction i n value that ffavors the cause of the clieent, the amount off the value op
pinion, the atttainment of aa stipulated reesult, or the o
occurrence off a subsequen
nt event direcctly related to
o the intendedd use of this aappraisal. 8.
Our analysses, opinions, and conclusiions were devveloped, and this report h
has been prep
pared, in conform
mity with the Uniform Stan
ndards of Proffessional App
praisal Practicce as well as applicable state appraissal regulation
ns. 9.
The reportted analyses, opinions, and
d conclusionss were develo
oped, and thiss report has b
been prepared, in conformityy with the Code of Professsional Ethics aand Standards of Professio
onal Appraisal P
Practice of the Appraisal In
nstitute. 10.
The use off this report iss subject to th
he requiremeents of the Ap
ppraisal Institute relating tto review by its duly autho
orized representatives. 11.
William L. Springer, MA
AI, made a personal inspecction of the prroperty that iis the subjectt of this report. David R. Dominyy, MAI, CRE, FFRICS, has peersonally inspeected the sub
bject. 12.
Significantt real propertyy appraisal asssistance wass provided byy J. Tyler Daviss who has nott signed thiss certification
n. 13.
We have e
experience in appraising prroperties sim ilar to the subject and aree in compliancce with the Compe
etency Rule o
of USPAP. 14.
As of the d
date of this re
eport, William
m L. Springer, MAI and Davvid R. Dominyy, MAI, CRE, FRICS have comp
pleted the continuing educcation prograam for Design
nated Membeers of the App
praisal Institute. Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. Expossure and Marketing Times 15.
6 As of the d
date of this re
eport, William
m L. Springer, MAI and Davvid R. Dominyy, MAI, CRE, FRICS have comp
pleted the Staandards and EEthics Educattion Requirem
ments for Can
ndidates/Praccticing Affiliates o
of the Appraissal Institute.
William L. Springerr, MAI Certiffied General R
Real Estate Ap
ppraiser Texass Certificate #
# TX‐1380120‐‐G Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. RICS Davidd R. Dominy, MAI, CRE, FR
Certi fied General Real Estate A
Appraiser Texass Certificate ## TX‐1321542
2‐G Expossure and Marketing Times 7 Assumptions an
nd Limiting C
Conditions
This aappraisal and any other wo
ork product re
elated to thiss engagementt are limited b
by the following standard assumptiions, except aas otherwise n
noted in the rreport: 1.
The title iss marketable and free and clear of all lieens, encumbrrances, encro
oachments, easementss and restrictions. The property is undeer responsiblee ownership aand competent manageme
ent and is avaailable for its highest and bbest use. 2.
There are no existing ju
udgments or p
pending or thhreatened litiggation that co
ould affect th
he value perty. of the prop
3.
There are no hidden or undisclosed conditions off the land or o
of the improvvements that would render the
e property mo
ore or less valuable. Furtheermore, theree is no asbesttos in the pro
operty. 4.
The revenu
ue stamps plaaced on any d
deed referencced herein to
o indicate the sale price aree in correct relation to the aactual dollar aamount of th e transaction
n. 5.
The property is in comp
pliance with aall applicable building, envvironmental, zzoning, and o
other federal, staate and local laws, regulattions and cod es. 6.
The inform
mation furnish
hed by otherss is believed tto be reliable,, but no warranty is given for its accuracy. This aappraisal and any other wo
ork product re
elated to thiss engagementt are subject tto the following limitin
ng conditionss, except as ottherwise note
ed in the repoort: 1.
An appraissal is inherenttly subjective and represennts our opinio
on as to the vvalue of the property aappraised. 2.
The conclu
usions stated in our appraiisal apply onlyy as of the efffective date o
of the appraissal, and no represe
entation is maade as to the effect of subbsequent even
nts. 3.
No change
es in any fede
eral, state or local laws, reggulations or ccodes (includiing, without limitation, the Internal Revenue Cod
de) are anticippated. 4.
nmental impaact studies we
ere either reqquested or made in conjun
nction with th
his No environ
appraisal, and we reserrve the right tto revise or reescind any of the value opinions based upon any subseq
quent environ
nmental impaact studies. Iff any environm
mental impacct statement is required b
by law, the ap
ppraisal assum
mes that such statement w
will be favorab
ble and will be approved by the appropriate regulattory bodies.
5.
herwise agree
ed to in writin
ng, we are nott required to give testimony, respond tto any Unless oth
subpoena or attend anyy court, governmental or oother hearingg with referen
nce to the pro
operty without co
ompensation relative to su
uch additiona l employmen
nt. 6.
We have m
made no survey of the property and asssume no resp
ponsibility in cconnection w
with such matte
ers. Any sketcch or survey o
of the properrty included in
n this report iis for illustrattive purposes o
only and shou
uld not be con
nsidered to bbe scaled accu
urately for sizze. The appraiisal covers the
e property as described in tthis report, a nd the areas and dimensio
ons set forth are assumed to be correct. Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. Expossure and Marketing Times 8 7.
No opinion
n is expressed
d as to the value of subsurrface oil, gas o
or mineral rigghts, if any, an
nd we have assum
med that the property is n
not subject to surface entryy for the explloration or reemoval of such maaterials, unlesss otherwise noted in our appraisal. 8.
We acceptt no responsib
bility for conssiderations reequiring expertise in otherr fields. Such considerattions include, but are not limited to, leggal descriptio
ons and other legal matterss such as legal title, geologic considerationss such as soilss and seismicc stability; and
d civil, mechaanical, electrical, structural and other engin
neering and eenvironmentaal matters. Su
uch considerations may also in
nclude determ
minations of compliance w
with zoning an
nd other fedeeral, state, an
nd local laws, regulations and co
odes. 9.
bution of the ttotal valuatio
on in the repoort between land and imprrovements ap
pplies The distrib
only underr the reported
d highest and
d best use of tthe property.. The allocatio
ons of value ffor land and improvements musst not be used
d in conjunct ion with any other appraissal and are in
nvalid if so used. Th
he appraisal rreport shall b
be consideredd only in its en
ntirety. No paart of the app
praisal report shall be utilized separately orr out of conteext. 10.
ents of this re port (especiaally any conclu
usions as to vvalue, Neither alll nor any partt of the conte
the identitty of the apprraisers, or anyy reference too the Appraissal Institute) sshall be disseminatted through aadvertising m
media, public rrelations med
dia, news med
dia or any oth
her means of ccommunicatio
on (including without limittation prospeectuses, privaate offering memorand
da and other offering mate
erial providedd to prospecttive investors) without thee prior written consent of the persons signing the reportt. 11.
on, estimates and opinionss contained inn the report aand obtained from third‐party Informatio
sources are assumed to
o be reliable aand have not been independently verified. 12.
me and expensse estimates contained in the appraisal report are u
used only for tthe Any incom
purpose off estimating vvalue and do not constitutte predictionss of future op
perating results. 13.
If the prop
perty is subjecct to one or m
more leases, aany estimate of residual vaalue containeed in the appraisal may be paarticularly afffected by signnificant changges in the con
ndition of the economy, of the real esstate industryy, or of the apppraised prop
perty at the tiime these leases expire or o
otherwise terminate. 14.
Unless oth
herwise stated
d in the reporrt, no consideeration has beeen given to personal prop
perty located on
n the premises or to the co
ost of moving or relocatingg such person
nal property; only the real prroperty has be
een considere
ed. 15.
The curren
nt purchasingg power of the
e dollar is thee basis for thee values stateed in the apprraisal; we have asssumed that no extreme ffluctuations inn economic cyycles will occur. 16.
The valuess found herein
n is subject to
o these and too any other aassumptions o
or conditions set forth in the body of thiss report but w
which may haave been omittted from this list of Assum
mptions and Limitin
ng Conditionss. 17.
The analysses contained
d in the reportt necessarily incorporate n
numerous esttimates and assumptio
ons regarding property perrformance, geeneral and loccal business aand economicc conditionss, the absence
e of material changes in thhe competitivve environment and other matters. Some estimate
es or assumptions, howevver, inevitablyy will not materialize, and unanticipaated events an
nd circumstances may occcur; thereforee, actual results achieved d
during Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. Expossure and Marketing Times 9 the period
d covered by o
our analysis w
will vary from our estimatees, and the vaariations mayy be material. 18.
The Americans with Dissabilities Act ((ADA) becam e effective Jaanuary 26, 1992. We have not ne whether th
he physical asspects made a specific survey or analysis off the propertyy to determin
of the improvements m
meet the ADA accessibility guidelines. W
We claim no eexpertise in ADA issues, and
d render no o
opinion regard
ding compliannce of the sub
bject with AD
DA regulationss. Inasmuch as compliancce matches eaach owner’s ffinancial abilitty with the co
ost to cure the non‐
conforming physical characteristics o
of a propertyy, a specific sttudy of both tthe owner’s financial ability and
d the cost to ccure any deficciencies woul d be needed for the Department of Jusstice to determine
e compliance. 19.
The appraisal report is prepared for the exclusivee benefit of th
he Client, its ssubsidiaries aand/or affiliates. It may not be used or relie
ed upon by anny other partyy. All parties w
who use or reely upon any iinformation in the report w
without our w
written conseent do so at th
heir own risk.. 20.
No studiess have been p
provided to uss indicating thhe presence o
or absence off hazardous materials o
on the subjecct property orr in the improovements, and our valuatio
on is predicatted upon the aassumption th
hat the subject property iss free and clear of any envvironment hazzards including, without limittation, hazard
dous wastes, ttoxic substan
nces and mold
d. No representaations or warranties are m
made regardinng the environ
nmental cond
dition of the ssubject property. IIntegra Realtyy Resources –
– Houston, Inttegra Realty Resources, In
nc., Integra Sttrategic Ventures, Inc. and/or any of their re
espective officcers, owners, managers, directors, agen
nts, subcontracctors or emplloyees (the “Integra Partiees”), shall nott be responsib
ble for any su
uch environme
ental conditio
ons that do exxist or for anyy engineeringg or testing that might be required to
o discover wh
hether such cconditions exiist. Because w
we are not exxperts in the ffield of environme
ental conditio
ons, the appraaisal report caannot be con
nsidered as an
n environmen
ntal assessmen
nt of the subje
ect property.
21.
The person
ns signing the
e report may have revieweed available flood maps an
nd may have noted in the appraisal report w
whether the subject propeerty is located
d in an identified Special FFlood ea. We are no
ot qualified to
o detect such areas and th
herefore do not guaranteee such Hazard Are
determinaations. The presence of flood plain areaas and/or wettlands may afffect the valuee of the property, aand the value
e conclusion is predicated on the assum
mption that w
wetlands are n
non‐
existent orr minimal. 22.
Integra Realty Resource
es – Houston is not a buildding or enviro
onmental insp
pector. Integrra Houston does not guaraantee that the subject prooperty is free of defects orr environmental problems. Mold may be
e present in the subject prroperty and aa professionall inspection iss recommen
nded. 23.
The appraisal report an
nd value conclusions for ann appraisal asssume the sattisfactory completion of construcction, repairs or alterationss in a workmaanlike manneer. 24.
It is expresssly acknowle
edged that in any action w
which may be brought against any of thee Integra Parties, arising out of, relatin
ng to, or in anny way pertaining to this eengagement, the appraisal rreports, and/o
or any other related work product, thee Integra Partiies shall not b
be responsible or liable forr any incidenttal or conseq uential damaages or lossess, unless the appraisal w
was fraudulen
nt or prepared with intenttional misconduct. It is furtther acknowledged Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. Expossure and Marketing Times 10 that the co
ollective liabillity of the Inte
egra Parties i n any such acction shall no
ot exceed the fees paid for th
he preparation
n of the appraisal report uunless the app
praisal was frraudulent or prepared w
with intention
nal misconduct. Finally, it is acknowledged that the fees charged herein are in reliaance upon the
e foregoing limitations of lliability. 25.
Integra Realty Resource
es – Houston,, an independdently owned
d and operateed company, h
has prepared tthe appraisal for the speciffic intended uuse stated elssewhere in th
he report. Thee use of the appraisal report by anyone othe
er than the Cliient is prohib
bited except aas otherwise provided. A
Accordingly, tthe appraisal report is adddressed to and shall be sollely for the Client’s use and be
enefit unless w
we provide o
our prior writtten consent. W
We expresslyy reserve the unrestricte
ed right to withhold our co
onsent to youur disclosure o
of the appraissal report or any other workk product relaated to the en
ngagement (oor any part th
hereof includiing, without limitation, conclusions of value and our identity),, to any third parties. Stateed again for clarificatio
on, unless ourr prior written
n consent is oobtained, no tthird party may rely on thee appraisal rreport (even iif their reliancce was foreseeeable). 26.
The conclu
usions of this report are esstimates baseed on known current trend
ds and reason
nably foreseeable future occu
urrences. The
ese estimatess are based paartly on propeerty informattion, data obtained in public records, inte
erviews, exist ing trends, bu
uyer‐seller deecision criteria in the current maarket, and ressearch condu
ucted by thirdd parties, and such data aree not always completelyy reliable. The
e Integra Partties are not reesponsible fo
or these and o
other future occurrence
es that could not have reasonably beenn foreseen on
n the effectivee date of this assignmen
nt. Furthermo
ore, it is inevittable that som
me assumptio
ons will not m
materialize and that unanticipaated events m
may occur that will likely afffect actual peerformance. While we aree of the opinion that our findinggs are reasonable based o n current maarket conditio
ons, we do not hey are subjecct to considerrable represent that these esstimates will aactually be acchieved, as th
risk and un
ncertainty. Moreover, we assume comppetent and efffective manaagement and marketing for the durattion of the prrojected holdiing period of this propertyy. 27.
pinions prese
ented in this rreport are esttimates and fo
orecasts whicch are All prospecctive value op
prospectivve in nature and are subjecct to considerrable risk and
d uncertainty.. In addition tto the contingenccies noted in the preceding paragraph, several even
nts may occurr that could substantially alter the o
outcome of our estimates such as, but n
not limited to
o changes in tthe economy, interest ratess, and capitalization rates,, behavior of consumers, investors and lenders, firre and other physical destruction, channges in title orr conveyancees of easemen
nts and deed restrrictions, etc. Itt is assumed that conditioons reasonably foreseeablee at the preseent time are co
onsistent or ssimilar with th
he future. 28.
The appraisal is also sub
bject to the fo
ollowing: Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. Expossure and Marketing Times 11 Extra
aordinary Asssumptions an
nd Hypotheticcal Condition
ns
The vaalue conclusio
ons are subjectt to the followiing extraordin ary assumptio
ons that may a ffect the assignment resultts. An extraord
dinary assumption is uncertaain informatio n accepted as fact. If the asssumption is fou
und to be fal se as of the efffective date off the appraisal , we reserve thhe right to moddify our value cconclusions.
1. Th
he subject prop
perty is currently zoned as an
n Open Space D
District (OS), aas are many otther propertiess owned byy the City of Leaague City. The aappraisers we
ere not able to ffind a sufficient set of examples of privateely‐
ow
wned propertie
es with the OS zoning designaation. We ass ume that, weree the subject property to be o
owned an
nd/or develope
ed by a private
e owner, the us able site area would be re‐zooned for comm
merical use, as are ne
earby propertie
es along Highw
way 96 (League
e City Parkway ).
Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. Adden
nda Add
denda Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. David R. Dominy, MAI, CRE, FRICS Integra Realty Resources
Houston Experience 5 Riverway, Suite 200
Houston, TX 77056 Senior Managing Director of Integra Realty Resources Houston, a multi‐faceted real estate valuation and consulting firm with experience in properties including office buildings, single‐family and multi‐family residential, single and multi‐tenant retail centers, industrial facilities, subdivisions, billboard valuation, convenience stores/service stations, hospital/MOB properties and mini‐warehouse facilities. Other assignments include pipeline systems and rights of way including roadways, railroads, waterways, avigation and high voltage transmission corridors and salt cavern storage facilities. Clients include financial institutions, insurance companies, law firms, governmental entities, oil companies, developers, and private property owners, including many Fortune 500 companies. The practice features a litigation section assisting clients in many matters including general commercial litigation, property partitioning, estate tax matters, environmental contamination cases and eminent domain cases among others. Professional Activities & Affiliations
Advisory Board Member: Baylor University ‐ Hankamer School of Business Former President: Houston Realty Business Coalition Former President: C Club Former Vice Chairman: Integra Realty Resources; National Chairman: Accurity Qualified Analytics Board of Director: West Harris County Municipal Utility District #15 Member: International Right of Way Association Appraisal Institute, Member (MAI) Former President; Houston Counselor of Real Estate (CRE) Former Chairman, Current Board Member; Houston Royal Institute of Chartered Surveyors, Fellow (FRICS) Board Member: On Track Ministries Board Member: Yellowstone Academy Licenses Alabama, Real Estate General Appraiser, G00659, Expires September 2015 Arizona, Certified General Real Estate Appraiser, 31937, Expires February 2017 Arkansas, State Certified General Appraiser, CG 1255, Expires September 2016 Colorado, Real Estate General Appraiser, CG40033015, Expires December 2015 Louisiana, Real Estate General Appraiser, G1033, Expires December 2015 Mississippi, Real Estate General Appraiser, GA‐740, Expires October 2016 Oklahoma, Real Estate General Appraiser, 11679, Expires February 2018 Texas, Real Estate General Appraiser, TX‐1321542‐G, Expires November 2015 Texas, Real Estate Broker, 341697‐13, Expires May 2016 Education BBA – Baylor University – Major – Accounting/Finance
Successfully completed numerous real estate related courses and seminars sponsored by the Appraisal Institute, accredited universities and others. Currently certified by the Appraisal Institute's voluntary program of continuing education for its designated members. Guest Lecturer: Rice University; CLE International; Harris County Eminent Domain Seminar; Harris County Appraisal District; Texas Association of Assessment Officers Qualified Before Courts & Administrative Bodies
County and District Courts: Texas – Harris, Montgomery, Fort Bend, Brazoria, Galveston, Chambers, Grimes, San Jacinto, Angelina, Polk, Liberty, Bexar, and Waller. Arkansas ‐ White County Louisiana – St. Tammany Parish Federal Courts: Houston and Sherman, Texas [email protected] ‐ 713.243.3333 [email protected] T 713‐243‐3300 F 713‐827‐8552 irr.com William Springer, MAI Integra Realty Resources
Houston Experience 5 Riverway, Suite 200
Houston, TX 77056 Mr. Springer is an Associate Director with Integra Realty Resources Houston, a real estate appraisal and consulting firm. Integra Realty Resources is a multi‐faceted real estate appraisal and consulting firm specializing in properties including regional malls, office buildings, single‐family and multi‐family residential, single and multi‐tenant retail centers, industrial facilities, subdivisions, convenience stores/service stations, mini‐warehouse facilities, schools, churches and other special purpose properties and rural properties. Other property types include right of way and utility corridors, easements and various property types for eminent domain proceedings. Prior to joining Integra, Mr. Springer was employed with ThoreenHale Commercial Real Estate Advisors, serving as a Senior Analyst. Professional Activities & Affiliations
Appraisal Institute, Member (MAI), November 2014 Board of Governors: The Fondren Foundation Board of Directors: Houston Children’s Chorus Licenses Texas, Certified General Real Estate Appraiser, TX‐1380120‐G, Expires January 2016 Louisiana, General Real Estate Appraiser, G3716, Expires December 2015 Education Bachelor of Business Administration in Real Estate – Baylor University
Appraisal Institute Courses Completed: Real Estate Principles, Procedures and USPAP General Appraiser Market Analysis and Highest and Best Use Finance, Statistics and Modeling General Appraiser Sales Comparison Approach General Appraiser Site Valuation and Cost Approach General Appraiser Income Approach, Parts I and II General Appraiser Report Writing and Case Studies Advanced Income Capitalization Advanced Sales Comparison and Cost Approaches Advanced Applications [email protected] ‐ 713‐243‐3341 T 713‐243‐3300 F 713‐827‐8552 irr.com Integra Realty Resources, Inc.
Corporate Profile
Integra Realty Resources, Inc. offers the most comprehensive property valuation and counseling coverage in the United States with 62 independently owned and operated offices in 34 states and the Caribbean. Integra was created for the purpose of combining the intimate knowledge of well‐established local firms with the powerful resources and capabilities of a national company. Integra offers integrated technology, national data and information systems, as well as standardized valuation models and report formats for ease of client review and analysis. Integra’s local offices have an average of 25 years of service in the local market, and virtually all are headed by a Senior Managing Director who is an MAI member of the Appraisal Institute. A listing of IRR’s local offices and their Senior Managing Directors follows: ATLANTA, GA ‐ Sherry L. Watkins., MAI, FRICS AUSTIN, TX ‐ Randy A. Williams, MAI, SR/WA, FRICS BALTIMORE, MD ‐ G. Edward Kerr, MAI, MRICS BIRMINGHAM, AL ‐ Rusty Rich, MAI, MRICS BOISE, ID ‐ Bradford T. Knipe, MAI, ARA, CCIM, CRE, FRICS BOSTON, MA ‐ David L. Cary, Jr., MAI, MRICS CHARLESTON, SC ‐ Cleveland “Bud” Wright, Jr., MAI CHARLOTTE, NC ‐ Fitzhugh L. Stout, MAI, CRE, FRICS CHICAGO, IL ‐ Eric L. Enloe, MAI, FRICS CINCINNATI, OH ‐ Gary S. Wright, MAI, FRICS, SRA CLEVELAND, OH ‐ Douglas P. Sloan, MAI COLUMBIA, SC ‐ Michael B. Dodds, MAI, CCIM COLUMBUS, OH ‐ Bruce A. Daubner, MAI, FRICS DALLAS, TX ‐ Mark R. Lamb, MAI, CPA, FRICS DAYTON, OH ‐ Gary S. Wright, MAI, FRICS, SRA DENVER, CO ‐ Brad A. Weiman, MAI, FRICS DETROIT, MI ‐ Anthony Sanna, MAI, CRE, FRICS FORT WORTH, TX ‐ Gregory B. Cook, SR/WA GREENSBORO, NC ‐ Nancy Tritt, MAI, SRA, FRICS GREENVILLE, SC ‐ Michael B. Dodds, MAI, CCIM HARTFORD, CT ‐ Mark F. Bates, MAI, CRE, FRICS HOUSTON, TX ‐ David R. Dominy, MAI, CRE, FRICS INDIANAPOLIS, IN ‐ Michael C. Lady, MAI, SRA, CCIM, FRICS JACKSON, MS ‐ J. Walter Allen, MAI, FRICS JACKSONVILLE, FL ‐ Robert Crenshaw, MAI, FRICS KANSAS CITY, MO/KS ‐ Kenneth Jaggers, MAI, FRICS LAS VEGAS, NV ‐ Charles E. Jack IV, MAI LOS ANGELES, CA ‐ John G. Ellis, MAI, CRE, FRICS LOS ANGELES, CA ‐ Matthew J. Swanson, MAI LOUISVILLE, KY ‐ Stacey Nicholas, MAI, MRICS MEMPHIS, TN ‐ J. Walter Allen, MAI, FRICS MIAMI/PALM BEACH, FL ‐ Scott M. Powell, MAI, FRICS MIAMI/PALM BEACH, FL‐ Anthony M. Graziano, MAI, CRE, FRICS MINNEAPOLIS, MN ‐ Michael F. Amundson, MAI, CCIM, FRICS NAPLES, FL ‐ Carlton J. Lloyd, MAI, FRICS NASHVILLE, TN ‐ R. Paul Perutelli, MAI, SRA, FRICS NEW JERSEY COASTAL ‐ Halvor J. Egeland, MAI NEW JERSEY NORTHERN ‐ Barry J. Krauser, MAI, CRE, FRICS NEW YORK, NY ‐ Raymond T. Cirz, MAI, CRE, FRICS ORANGE COUNTY, CA ‐ Larry D. Webb, MAI, FRICS ORLANDO, FL ‐ Christopher Starkey, MAI, MRICS PHILADELPHIA, PA ‐ Joseph D. Pasquarella, MAI, CRE, FRICS PHOENIX, AZ ‐ Walter ‘Tres’ Winius III, MAI, FRICS PITTSBURGH, PA ‐ Paul D. Griffith, MAI, CRE, FRICS PORTLAND, OR ‐ Brian A. Glanville, MAI, CRE, FRICS PROVIDENCE, RI ‐ Gerard H. McDonough, MAI, FRICS RALEIGH, NC ‐ Chris R. Morris, MAI, FRICS RICHMOND, VA ‐ Kenneth L. Brown, MAI, CCIM, FRICS SACRAMENTO, CA ‐ Scott Beebe, MAI, FRICS ST. LOUIS, MO ‐ P. Ryan McDonald, MAI, FRICS SALT LAKE CITY, UT ‐ Darrin W. Liddell, MAI, CCIM, FRICS SAN ANTONIO, TX ‐ Martyn C. Glen, MAI, CRE, FRICS SAN DIEGO, CA ‐ Jeff A. Greenwald, MAI, SRA, FRICS SAN FRANCISCO, CA ‐ Jan Kleczewski, MAI, FRICS SARASOTA, FL ‐ Carlton J. Lloyd, MAI, FRICS SAVANNAH, GA ‐ J. Carl Schultz, Jr., MAI, FRICS, CRE, SRA SEATTLE, WA ‐ Allen N. Safer, MAI, MRICS SYRACUSE, NY ‐ William J. Kimball, MAI, FRICS TAMPA, FL ‐ Bradford L. Johnson, MAI, MRICS TULSA, OK ‐ Robert E. Gray, MAI, FRICS WASHINGTON, DC ‐ Patrick C. Kerr, MAI, SRA, FRICS WILMINGTON, DE ‐ Douglas L. Nickel, MAI, FRICS CARIBBEAN/CAYMAN ISLANDS ‐ James Andrews, MAI, FRICS
Corporate Office Eleven Times Square, 640 Eighth Avenue, 15th Floor, Suite A, New York, New York 10036 Telephone: (212) 255‐7858; Fax: (646) 424‐1869; E‐mail [email protected] Website: www.irr.com Addenda Compariso
on of Report Formats Reporting O
Options in 2014‐‐2015 Edition of USPAP Integra Reportiing Formats Effective Januaary 1, 2014 Corrresponding Reeporting Option
ns in 20112‐2013 Edition
n of USPAP Appraisal Rep
port Appraisal Reportt – Comprehensivve Format Selff‐Contained Apprraisal Report Appraisal Reportt – Standard Form
mat Sum
mmary Appraisal Report Appraisal Reportt – Concise Summ
mary Format Minnimum Requirem
ments of Sum
mmary Appraisal Report Restricted Appraaisal Report Resstricted Use Apprraisal Report Restricted Ap
ppraisal Report Bradshaw Nu
ursery Rd. and Leaague City Pkwy.
Adden
nda USPA
AP Reportin
ng Options The 2014‐2015 ediition of USPA
AP requires that all written appraisal rep
ports be prep
pared under o
one of ollowing optio
ons: Appraisal Report or Re
estricted Apppraisal Reportt. the fo
An Ap
ppraisal Report summarize
es the informaation analyzeed, the appraiisal methods employed, an
nd the reasoning that sup
pports the anaalyses, opinio
ons, and conc lusions. The rrequirementss for an Appraaisal Reporrt are set fortth in Standard
ds Rule 2‐2 (a) of USPAP.
A Restricted Appraaisal Report sttates the app
praisal metho ds employed and the concclusions reach
hed but oning that suppports the an
nalyses, opinio
ons, and is not required to iinclude the daata and reaso
conclu
usions. Becau
use the suppo
orting informaation may noot be included
d, the use of tthe report is restriccted to the client, and furtther, the appraiser must m
maintain a wo
ork file that co
ontains sufficcient inform
mation for the
e appraiser to
o produce an Appraisal Reeport if requirred. The requirements for a Restriicted Appraisal Report are
e set forth in SStandards Ru le 2‐2 (b). Integgra Reportin
ng Formats under the A
Appraisal Reeport Optio
on USPAP gives appraaisers the flexxibility to varyy the level of information iin an Appraisaal Report dep
pending on the
e intended usse and intend
ded users of the appraisal. Accordingly, Integra Realtty Resources has established internaal standards ffor three alternative reporrting formats that differ in
n depth and detail yet co
omply with th
he USPAP requirements for an Appraisaal Report. Thee three Integrra formats aree: 
Appraisal R
Report – Com
mprehensive FFormat 
Appraisal R
Report – Stan
ndard Format 
Appraisal R
Report – Concise Summaryy Format An Ap
ppraisal Report – Compreh
hensive Formaat has the greeatest depth and detail of the three rep
port types. It describes and explains the informattion analyzed , the appraisaal methods employed, and
d the reasoning that sup
pports the anaalyses, opinio
ons, and conc lusions. This format meets or exceeds tthe forme
er Self‐Contained Appraisaal Report requ
uirements thaat were contaained in the 2
2012‐2013 ed
dition of USPAP. An Ap
ppraisal Report – Standard
d Format has aa moderate leevel of detail. It summarizzes the inform
mation analyzed, the apprraisal method
ds employed, and the reasooning that su
upports the an
nalyses, opiniions, and conclusions. TThis format meets or excee
eds the formeer Summary A
Appraisal Rep
port requirem
ments that w
were containe
ed in the 2012
2‐2013 editio
on of USPAP.
An Ap
ppraisal Report ‐ Concise SSummary Form
mat has less ddepth and deetail than the Appraisal Rep
port – Stand
dard Format. IIt briefly summarizes the d
data, reasoninng, and analyyses used in th
he appraisal p
process while additional su
upporting doccumentation is retained inn the work filee. This formatt meets the minim
mum requirem
ments of the fformer Summ
mary Appraisaal Report thatt were contained in the 20
012‐
2013 edition of USSPAP. On occcasion, clientts will requesst, and Integraa will agree too provide, a rreport that is labeled a Self‐
Contaained Appraissal Report. Otther than the label, there i s no difference between aa Self‐Contain
ned Appraaisal Report and an Appraisal Report ‐ C
Comprehensivve Format. Bo
oth types of rreports meet or Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. Adden
nda excee
ed the formerr Self‐Contained Appraisal Report requiirements set fforth in the 2
2012‐2013 edition of USPAP. Integgra Reportin
ng Format u
under Restriicted Appraaisal Reportt Option Integrra provides a Restricted Ap
ppraisal Repo
ort format un der the USPA
AP Restricted Appraisal Report option. This format meets the rrequirementss of the formeer Restricted Use Appraisaal Report thatt were 012‐2013 ediition of USPAP. contained in the 20
Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy. 2015
R311041
05/29/2015
Page 1 of 1
Current Owner
Legal Description
CITY-LEAGUE CITY (O158065)
300 W WALKER ST
LEAGUE CITY,TX 77573-3898
Exemptions
ABST 3 PAGE 17 LOT 36 BLK 4 THE OAKS OF CLEAR CREEK
SEC 2
Market
EX
42,780
Entities
Assessed
GGA, S16, RFL, M18, C40
History Information
Situs Address
2015
2014
2013
2012
Imp HS
-
-
-
-
Imp NHS
-
-
-
-
Land HS
-
-
-
Land NHS
$42,780
$36,570
$36,570
$36,570
CITY-LEAGUE CITY
Ag Mkt
-
-
-
-
2000012214
ALLSEL CORP
Ag Use
-
-
-
-
2000009397
HOWARD, LADDIE
Tim Mkt
-
-
-
-
011-86-0832
TARA GLEN LIMITED
Tim Use
-
-
-
-
HS Cap
-
-
-
-
Assessed
$42,780
$36,570
$36,570
$36,570
Sales
Date
42,780
Volume
Page
Seller Name
Building Attributes
Interior
Construction
Foundation
Exterior
Heat/AC
Baths
Fireplace
Year Built
Improvements
Roof
Flooring
Rooms
Bedrooms
Land Segments
SPTB Description
Area
Market
C9
9555F
42,780
Residential Lot
Ag Value
Type Description
Area
Year Built
Eff Year
Value
2015
R310588
05/29/2015
Page 1 of 1
Current Owner
Legal Description
CITY-LEAGUE CITY (O158065)
300 W WALKER ST
LEAGUE CITY,TX 77573-3898
Exemptions
ABST 3 PAGE 17 LOT 37 BLK 4 THE OAKS OF CLEAR CREEK
SEC 2
Market
EX
36,330
Entities
Assessed
GGA, S16, RFL, M18, C40
History Information
Situs Address
2015
2014
2013
2012
Imp HS
$0
$0
$0
$0
Imp NHS
$0
$0
$0
$0
$0
Land HS
$0
$0
$0
Land NHS
$36,330
$31,050
$31,050
$31,050
CITY-LEAGUE CITY
Ag Mkt
$0
$0
$0
$0
2000012214
ALLSEL CORP
Ag Use
$0
$0
$0
$0
2000011414
TARA GLEN LIMITED
Tim Mkt
$0
$0
$0
$0
Tim Use
$0
$0
$0
$0
HS Cap
-
-
-
-
Assessed
$36,330
$31,050
$31,050
$31,050
Sales
Date
36,330
Volume
Page
Seller Name
Building Attributes
Interior
Construction
Foundation
Exterior
Heat/AC
Baths
Fireplace
Year Built
Improvements
Roof
Flooring
Rooms
Bedrooms
Land Segments
SPTB Description
Area
Market
Ag Value
C9
10928F
36,330
0
Residential Lot
Type Description
Area
Year Built
Eff Year
Value
2015
R310587
05/29/2015
Page 1 of 1
Current Owner
Legal Description
CITY-LEAGUE CITY (O158065)
300 W WALKER ST
LEAGUE CITY,TX 77573-3898
Exemptions
ABST 3 PAGE 17 LOT 35 BLK 4 THE OAKS OF CLEAR CREEK
SEC 2
Market
EX
37,120
Entities
Assessed
GGA, S16, RFL, M18, C40
History Information
Situs Address
2015
2014
2013
2012
Imp HS
$0
$0
$0
$0
Imp NHS
$0
$0
$0
$0
$0
Land HS
$0
$0
$0
Land NHS
$37,120
$31,730
$31,730
$31,730
CITY-LEAGUE CITY
Ag Mkt
$0
$0
$0
$0
2000012214
ALLSEL CORP
Ag Use
$0
$0
$0
$0
2000011414
TARA GLEN LIMITED
Tim Mkt
$0
$0
$0
$0
012-95-2218
SPIERS, MARION
Tim Use
$0
$0
$0
$0
011-86-0829
TARA GLEN LIMITED
HS Cap
-
-
-
-
Assessed
$37,120
$31,730
$31,730
$31,730
Sales
Date
37,120
Volume
Page
Seller Name
Building Attributes
Interior
Construction
Foundation
Exterior
Heat/AC
Baths
Fireplace
Year Built
Improvements
Roof
Flooring
Rooms
Bedrooms
Land Segments
SPTB Description
Area
Market
Ag Value
C9
12547F
37,120
0
Residential Lot
Type Description
Area
Year Built
Eff Year
Value
Land Sale Profile
Sale No. 1
Location & Property Identification
Property Name:
1.49 AC on FM 646
Sub-Property Type:
Commercial
Address:
FM 646
City/State/Zip:
League City, TX 77539
County:
Galveston
Market Orientation:
Suburban
Property Location:
SWC of FM 646 (16th St) &
Avenue F
IRR Event ID:
1138665
Legal/Tax/Parcel ID:
Sale Information
Sale Price:
Eff. R.E. Sale Price:
Sale Date:
Sale Status:
$/Acre(Gross):
$/Land SF(Gross):
$/Acre(Usable):
$/Land SF(Usable):
Grantor/Seller:
Grantee/Buyer:
Property Rights:
Exposure Time:
Financing:
Document Type:
Recording No.:
Verified By:
Verification Date:
Verification Source:
Verification Type:
$235,000
$235,000
08/27/2014
Closed
$157,486
$3.62
$157,486
$3.62
Susan V. Miller
ACV Investments LLC
Fee Simple
3 (months)
Cash to seller - buyer
obtained financing
Warranty Deed
2014.50197
Mr. John "Tyler" T. Davis
5/27/15
Murlene Ware, Bayou
Realtors, 281-337-4557
Confirmed-Seller Broker
Utilities Desc.:
Sale Analysis
Proposed Use Desc.:
Commercial
Improvement and Site Data
1.49 AC on FM 646
Acres(Usable/Gross):
Land-SF(Usable/Gross):
Usable/Gross Ratio:
Shape:
Topography:
Vegetation:
Corner Lot:
Frontage Type:
Traffic Control at Entry:
Traffic Flow:
AccessibilityRating:
Visibility Rating:
Zoning Desc.:
Flood Plain:
Flood Zone Designation:
Comm. Panel No.:
Date:
Utilities:
Source of Land Info.:
Block 165, Moore's Addition
to the Town of Dickinson,
save and except Lots 6 and
12/ R165951
1.49/1.49
65,000/65,000
1.00
Rectangular
Level
Grass and shrubs
Yes
2 way, 2 lanes each way
Turn lane
Moderate
Average
Average
Office Commercial
Yes
X (Shaded)
4854880030E
09/22/1999
Electricity, Water Public,
Sewer, Gas, Telephone,
CableTV, Fiber Optics
Utilities available along FM
646
Public Records
Land Sale Profile
Sale No. 2
Location & Property Identification
Property Name:
1.166 AC on E. Walker
Sub-Property Type:
Commercial
Address:
101 E. Walker St.
City/State/Zip:
League City, TX 77573
County:
Galveston
Market Orientation:
Suburban
Property Location:
Southeast line of E. Walker
Street, north of Highway 3
IRR Event ID:
1134032
Sale Information
Sale Price:
Eff. R.E. Sale Price:
Sale Date:
Sale Status:
$/Acre(Gross):
$/Land SF(Gross):
$/Acre(Usable):
$/Land SF(Usable):
Grantor/Seller:
Grantee/Buyer:
Property Rights:
Financing:
Document Type:
Recording No.:
Verified By:
Verification Date:
Verification Source:
Verification Type:
$156,000
$156,000
11/14/2013
Closed
$133,756
$3.07
$133,756
$3.07
Marion M. Ringo
Ming-He Huang and Hong
Hu
Fee Simple
Cash to seller
Warranty Deed
2013072022
Mr. John "Tyler" T. Davis
5/12/15
Patrick McFarland,
713-857-2715
Confirmed-Seller Broker
Improvement and Site Data
Legal/Tax/Parcel ID:
Acres(Usable/Gross):
1.166 AC on E. Walker
Lot 1, Abstract 3, Ringo
Special Subdivision/
R517599
1.17/1.17
Land-SF(Usable/Gross):
Usable/Gross Ratio:
Shape:
Topography:
Vegetation:
Corner Lot:
AccessibilityRating:
Visibility Rating:
Zoning Code:
Flood Plain:
Flood Zone Designation:
Comm. Panel No.:
Date:
Utilities:
Source of Land Info.:
50,803/50,803
1.00
Rectangular
Level
Grass and shrubs
No
Average
Above average
General Commercial
No
X
485488
09/22/1999
Electricity, Water Public,
Sewer, Gas
Public Records
Land Sale Profile
Sale No. 3
Location & Property Identification
Property Name:
0.9 AC at 820 Louisiana Ave
Sub-Property Type:
Residential
Address:
820 Louisiana Ave.
City/State/Zip:
League City, TX 77573
County:
Galveston
Market Orientation:
Suburban
Property Location:
E/L of Louisiana Avenue
IRR Event ID:
1138824
Legal/Tax/Parcel ID:
Sale Information
Sale Price:
Eff. R.E. Sale Price:
Sale Date:
Sale Status:
$/Acre(Gross):
$/Land SF(Gross):
$/Acre(Usable):
$/Land SF(Usable):
Grantor/Seller:
Grantee/Buyer:
Property Rights:
Exposure Time:
Financing:
Document Type:
Recording No.:
Verified By:
Verification Date:
Verification Source:
Verification Type:
$90,000
$90,000
08/15/2013
Closed
$100,000
$2.30
$100,000
$2.30
Michael D. and Ginger
Sprouse
Justin and Lynsey Davis
Fee Simple
7 (months)
Cash to seller - buyer
obtained financing
Warranty Deed
2013065831
Mr. John "Tyler" T. Davis
5/27/15
Ginger Sprouse,
713-933-8241
Confirmed-Seller
Sale Analysis
Proposed Use Desc.:
Single Family Residence
Improvement and Site Data
0.9 AC at 820 Louisiana Ave
Acres(Usable/Gross):
Land-SF(Usable/Gross):
Usable/Gross Ratio:
Shape:
Topography:
Vegetation:
Corner Lot:
Frontage Type:
Traffic Control at Entry:
AccessibilityRating:
Visibility Rating:
Zoning Desc.:
Flood Plain:
Flood Zone Designation:
Comm. Panel No.:
Date:
Utilities:
Source of Land Info.:
Unrestricted Reserve E,
Louisiana Plantation
Addition, Galveston County,
Texas/ R370746
0.90/0.90
39,204/39,204
1.00
Rectangular
Level
Grass and shrubs
No
2 way, 1 lane each way
Turn lane
Average
Average
Single Family Residential
No
X
4854880013D
09/22/1999
Electricity, Water Public,
Sewer, Gas, Telephone,
CableTV
Public Records
Land Sale Profile
Sale No. 4
Location & Property Identification
Property Name:
SH 3 Land
Sub-Property Type:
Commercial
Address:
1012 S. State Highway 3
City/State/Zip:
League City, TX 77573
County:
Galveston
Market Orientation:
Suburban
Property Location:
E/S of Highway 3, S of
Washington Street
IRR Event ID:
645408
Legal/Tax/Parcel ID:
Sale Information
Sale Price:
Eff. R.E. Sale Price:
Sale Date:
Sale Status:
$/Acre(Gross):
$/Land SF(Gross):
$/Acre(Usable):
$/Land SF(Usable):
Grantor/Seller:
Grantee/Buyer:
Assets Sold:
Property Rights:
% of Interest Conveyed:
Exposure Time:
Financing:
Document Type:
Recording No.:
Verification Source:
Verification Type:
$750,000
$750,000
01/17/2013
Closed
$133,476
$3.06
$133,476
$3.06
John B. Daro
Adriana Weathers
Real estate only
Fee Simple
100.00
12 (months)
Cash to seller
Deed
2013003890
Alliance Realty, Allen
Cruitherds
Confirmed-Buyer
Acres(Usable/Gross):
Land-SF(Usable/Gross):
Usable/Gross Ratio:
Shape:
Topography:
Corner Lot:
Frontage Feet:
Frontage Desc.:
Frontage Type:
Traffic Control at Entry:
Traffic Flow:
AccessibilityRating:
Visibility Rating:
Easements:
Environmental Issues:
Flood Plain:
Flood Zone Designation:
Comm. Panel No.:
Date:
Utilities:
Improvement and Site Data
MSA:
SH 3 Land
Houston-Sugar
Land-Baytown, TX
Metropolitan Statistical
Area
Utilities Desc.:
Source of Land Info.:
Abstract 3, Page 16, S F
Austin Survey, Tract 76/
R135141
5.62/5.62
244,763/244,763
1.00
Irregular
Level
No
250
250 - Highway 3
2 way, 2 lanes each way
None
Moderate
Average
Average
No
No
No
X
4854880030E
09/22/1999
Electricity, Water Public,
Sewer, Gas, Telephone,
CableTV
League City
Broker
Adden
nda Bradsshaw Nurseryy Rd. and Leaggue City Pkwyy.