PROPERTY EVALUATION (RESTRICTED REPORT)
5. The source(s) of comparable information used in developing this analysis include, and are generally limited to: Coachella Valley Water District Appraisal File, CoStar Comps, , IREM, Loopnet.com, and market participant surveys. 6. For tenanted properties, rents reported for comparable income producing properties were researched and analyzed to establish market rent for the subject. A reconstructed operating statement was then developed using the estimated market rent and market derived vacancy and operating expenses to arrive at an estimated net operating income (NOI). A market derived overall capitalization rate (OAR) was applied to produce an estimate value for the subject by direct capitalization. 7. In reconciling a final conclusion, or range of conclusions, for this report, the preparer has reconciled various approaches giving consideration to the most appropriate method for the property in question. This report further complies with the requirements of a limited; restricted appraisal as defined by USPAP, and the appraiser is independent. A list of Frazier Capital’s General Limiting Conditions and Assumptions that pertain to this report are on file.
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