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purposes as their highest and best use, and are located in a similar competitive area <br /> • as the subject. Hence, no adjustments were made. <br /> 6. Size - One of the basic characteristics of real estate is that it is unique. Because real <br /> estate is unique and there are generally numerous differences between properties, <br /> only quantifiable or significant differences should be adjusted. The physical <br /> differences are best obtained, as are all adjustments, from a direct comparison of <br /> comparables. However, because properties are generally not alike, physical <br /> adjustments are not easily abstracted from sales. The primary adjustment for this <br /> category was the size of the parcel. It should be noted that the smaller size lot is <br /> considered more valuable per square foot than larger ones, due primarily to the <br /> cost of developing it. The cost to develop a larger site is considerably less per <br /> square foot than a smaller one. Due to the inverse relationship between the <br /> comparables size and their value per square foot, your appraiser has adjusted the <br /> comparable site according to their size. Each of the comparable sales have been <br /> adjusted. <br /> 7. Zoning - The subject is zoned Highway Business. Comparable #1 is located nearby <br /> in Mounds View and is zoned R-4, for Townhouse use. This comparable sale is <br /> given a 5% adjustment for its residential density. Comparable #2 is zoned I-1, <br /> Industrial and is considered similar to the subject. The other 4 comparables are <br /> similar to the subject, and therefore, no adjustments are made. <br /> 8. Other Characteristics and Differencesadjustment-The other cate o <br /> category is a catch-all <br /> for relevant adjustments that cannot be categorized in the previous adjustments, <br /> such as topography, availability of utilities, special assessments, soil conditions, <br /> shape, and other features. Each of the comparables are given a 25% adjustment for <br /> the subject's mixture of wetlands and possible buildable sites along Edgewood <br /> Drive and the accessibility to and from Bronson Drive, as well as the roadside <br /> advertising signs. A 10% adjustment is given to the comparable land sales for this <br /> added feature. <br /> • <br /> -47- <br />