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<br />Nagell Appraisal Incorporated | 952.544.8966 Page 19 <br /> <br />CITY & NEIGHBORHOOD DESCRIPTION <br /> <br /> <br />Type of neighborhood: Northern Suburban <br />Percent built-up: 95% Developed <br />Stage of Development: Stable <br />Neighborhood boundaries: City Limits <br />Redevelopment Some redevelopment and new development is occurring; property <br />owners are updating their homes <br />Major Transportation: I-35W, County Road 10 <br />Predominant type & <br />conformity: <br />Single Family Residential 65% <br />Two- & Multi-Family 15% <br />Commercial/Industrial 15% <br />Other/Vacant/Public Land 5% <br />Total: 100% <br />Average conformity. <br />Reputation of the area: Average <br />Typical property age: New to 75+ years, predominant 25-50+ years <br />Single-Family Home Sales: $125,000 to $300,000+ <br />Apartment Sales: $50,000 to $125,000+ per Unit <br />Office Property Sales: $50 to $150+ per SF <br />Retail Property Sales: $75 to $200+ per SF <br />Industrial Property Sales: $30 to $85+ per SF <br />Capitalization Rates: 7-10% Historic <br />Subject Market: Stable with some growth <br />Neighborhood Trend: Stable with some growth <br />Detrimental influences: No major apparent <br />CITY: The subject is located about 20 minutes north of Downtown Minneapolis in Mounds View, MN. The <br />subject is located along County Highway 10, which is the primary thoroughfare for Mounds View. Highway <br />10 has moderate to high traffic levels. Mounds View has a reputation as a stable community, with nearby <br />shopping and access to Interstate 694, Interstate 35W, US Highway 10 and County Highway 10. Access to <br />downtown and surrounding communities is convenient. Major shopping and commerce is located nearby. <br /> <br /> <br />