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1 2 <br /> I <br /> APPRAISAL SUMMARY <br /> 11 Appraisal Scope - Summary valuation approach to produce a market value <br /> estimate so the real estate may be purchased in fee. A Complete Appraisal <br /> 11 process with three approaches to value used to derive the final value <br /> estimate. <br /> 11 Property Appraised - A commercial store type building @ 2190 <br /> Hwy 10, Mounds <br /> View <br /> Date of Valuation - May 5, 1998 <br /> I <br /> Property Rights Appraised - Fee Simple <br /> 11 <br /> Name of Owner - The RIBOB & the <br /> ELJIM Company, aka Elmen Enterprises <br /> 11 Date of Inspection - May 5, 1998 <br /> Property Data - The subject is located at the northwesterly corner of Cty Rd H <br /> & Hwy 10 in Mounds View. The site, which is zoned B-3, Highway Business, and <br /> 11 - is 39,640 square feet in size, is improved with a one story, 3,116 square foot <br /> building that is 50% store, and 50% equipment service bay and storage <br /> warehouse. <br /> Highest and Best Use - The present use. <br /> Value Conclusions - $511,000 by the Cost Approach, $545,000 by the Sales <br /> Comparison Approach, & $507,000 by the Income Approach <br /> Reconciled Final Value Estimate - $520,000 <br /> I <br /> I <br /> I <br />