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Land Valuation 44 <br />Commercial Land Site - SWC of Middle Street and Market Place Drive <br />Land Valuation <br />Land value can be developed from a number of different methodologies. In this case, we have <br />employed the sales comparison approach as sufficient comparable data exists from which to <br />derive a reliable indication of value. Sales comparison includes the following steps. <br /> Research and verify information on properties in the market that are similar to the <br />subject and that have recently sold, are listed for sale, or are under contract. Adequate <br />land sales were not available in the immediate community and therefore the <br />comparable search was expanded to Ramsey County and the northerly portion of the <br />TCMA. <br /> Select the most relevant units of comparison in the market and develop a comparative <br />analysis. <br /> Examine and quantify via adjustments differences between the comparable sales and <br />the subject property using all appropriate elements of comparison. <br /> Reconcile the various value indications to a value indication. <br />Based on a review of market activity, the appropriate unit of comparison is price per square foot <br />of usable land area. <br /> <br />Land Comparables Map