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<br />Newmark Knight Frank <br />100 South Fifth Street, Suite 950 <br />Minneapolis, MN 55402 <br />www.ngkf.com <br />June 12, 2020 <br />Chris Heineman <br />City Administrator <br />City of Little Canada <br />515 Little Canada Road East <br />Little Canada, MN 55117 <br />RE: Market Value Appraisal <br />Land Parcel Located at: The SWC Middle St. & Market Place Dr., Little Canada, Ramsey <br />County, MN 55117, <br />Fee Owner: Economic Development Authority, City of Little Canada, Minnesota <br />NKF Job No.: 20-0114588-1 <br /> <br />Dear Mr. Heineman <br />Newmark Knight Frank Valuation & Advisory, LLC (herein “Firm” or “NKF”) has developed an <br />appraisal of the above referenced property and the results are presented in the following <br />Appraisal Report. <br />At your request, we have inspected the above referenced property and have made a study of <br />conditions affecting its value. This Appraisal Report was performed to provide an estimate of the <br />market value of the property “as is”. This report was performed for the use of the City of Little <br />Canada, Minnesota. This appraisal is presented in an Appraisal Report format, in accordance <br />with the requirements of the Uniform Standards of Professional Appraisal Practice. <br />The subject site has a total land area per Ramsey County GIS of 27,007 square feet or 0.62 acres. <br />The property is currently zoned PUD, Planned Unit Development, by the City of Little Canada. <br />An analysis and investigation of the subject property and local market was made to determine <br />the market value of the subject property. The subject property consists of a rectangular land <br />parcel located just east of Rice Street at the southwest corner of Market Place Drive and Middle <br />Street in Little Canada. This location is within the northeast quadrant of Rice Street and Little <br />Canada Road in a commercial/retail area. <br /> <br />