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J. Brown &Associates Appraisal House <br /> Appraisal of Land, Mounds View, Minnesota <br /> Summary of Salient Facts and Conclusions <br /> Legal Description: Lot 8, Block 3, Gustafsons Third Addition <br /> Date of Appraisal (inspection) April 23, 1997 <br /> Ownership City of Mounds View <br /> Land Area 83' x 134.03' (Approximately 11 ,124.5 sq ft) <br /> Zoning R-1 , Residential <br /> Highest and Best Use Developed as a Single Family Residential Site <br /> Improvements None, vacant land <br /> Value Indicators: <br /> Cost Approach N/A <br /> Sales Comparison Approach $17,000 <br /> Income Approach N/A <br /> • <br /> Value Conclusion: $17,000 <br /> Comments: <br /> The subject site is part of the property presently owned by the City of Mounds View, <br /> and has been appraised as a vacant parcel of land that is landlocked, but that a 60' right- <br /> of-way is possible and feasible to permit development. <br /> • <br />