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<br /> Page 38 Nagell Appraisal Incorporated | 952.544.8966 <br />Potential Development – Continued <br /> <br /> <br />The appraiser considered a potential breakdown of areas as follows: <br /> <br /> <br /> <br />The above is not to scale and is reflected as a concept only. However, the market might try to push the <br />commercial along Mounds View Boulevard to capture more visibility and to shift the apartments to the <br />west to reduce traffic noise. Ideally, the apartments would be higher than the commercial and therefore <br />visible to the roadway (for advertising purposes). <br /> <br /> <br />Most commercial sites for retail strip centers or gas stations range from 1 to 2 acres. Assuming a rate at <br />the mid-range of 1.5 acres, the following allocation of the site is possible: <br /> <br /> Apartment Site Area: 100,158 SF <br /> Commercial Site Area: 65,340 SF <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Commercial Apartments