Civic Center Site Appraisal - June 14, 1984 APPRAISAL
OF
- PROPOSED CIVIC CENTER SITE
SW Hall Blvd. , Tigard, Oregon
PREPARED FOR
Robert W. Jean
City Administrator
City of Tigard
12755 SW Ash
Tigard, Oregon 97223
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DATE OF VALUE
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June 14, 1984
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_ DONNERBERG APPRAISAL CO.
4805 S.W. Oleson Road
P.O. Box 25086
Portland, Oregon 97225
-- (503) 297-4731
July 2, 1984
Robert W. Jean
City Administrator
City of Tigard
12755 SW Ash
Tigard, Oregon 97223
RE: Proposed Civic Center Site
Dear Mr. Jean:
In accordance with your request, I have personally inspected
the property which is the subject of this report and have
conducted the necessary analysis and investigation to
determine the value of same. After considering all available
data and information, and subject to the assumptions and
limiting conditions stated herein, it is the opinion of the
undersigned that the value of the subject property in the
estate specified as of the date hereof is:
FOUR HUNDRED SEVENTY EIGHT THOUSAND DOLLARS
($478,000)
To support the above opinion of value, I am submitting
herewith a report complete with property description and
valuation data. I hereby certify that, to the best of my
knowledge and belief, the facts and data contained herein are
true and correct, and that no pertinent information has been
purposely neglected or omitted. I further certify that I have
neither a personal bias with reference to the subject property
(either present or contemplated) , and that my employment is
not contingent upon the value reported herein. All analysis,
conclusions, and opinions stated herein are solely those of
the undersigned unless otherwise indicated. This report has
been prepared in conformance with and subject to the
requirements of the Code of Professional Ethics and Standards
of Professional Conduct of the American Institute of Real
Estate Appraisers of the National Association of Realtors.
Respectfully submitted,
i
GWD/bgm George W. Donnerberg, MAI
APPRAISAL SUMMARY
Owner: Richard Sturgis
Property Location: West side of SW Hall Blvd. approximately
200 feet south of SW Burnham Street,
_ Tigard, Oregon.
Tax Lot: 2S-1-2DA, Tax Lot 400
Site Area: 3. 80 acres or 165,528 square feet
Zoning: CBD, Central Business District
Present Use: Vacant
Date of Value: June 14, 1984
Value Conclusion: $478 , 000
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DATE OF VALE
June 14, 1984
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ESTATE OR INTEREST BEING APPRAISED
The subject property is being appraised in fee simple.
PURPOSE OF APPRAISAL REPORT
To estimate the Market Value of the above described interest
as of the date hereof.
_ I DEFINITION OF MARKET VALUE
"MARKET VALUE" as used in this report is defined as the most
probable price in terms of money which a property should bring
in competitive and open market under all conditions requisite
to a fair sale, the buyer and seller, each acting prudently,
knowledgeably, and assuming the price is not affected by undue
stimulus.
Implicit in this definition is the consummation of a sale as
of a specified date and the passing of title from seller to
buyer under conditions whereby:
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1. Buyer and seller are typically motivated.
2. Both parties are well informed or well advised, and each
acting in what he considers his own best interest. i
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3. A reasonable time is allowed for exposure in the open
i market.
— 4. Payment is made in cash or its equivalent. I
5. Financing, if any, is on terms generally available in the
community at the specified date and typical for the
property type in its locale.
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-- ASSUMPTIONS AND LIMITING CONDITIONS
This appraisal is subject to the following limiting
conditions:
The legal description furnished me is assumed to be
correct. It was verified by this appraiser from official
county records.
I assume no responsibility for matters legal in character,
nor do I render any opinion as to title which is assumed to
be marketable. All existing liens, encumbrances, and
assessments have been disregarded, and the property is
appraised as though free and clear, under responsible
ownership, and competent management.
The exhibits in this report are included to assist the
reader in visualizing the property. I have made no survey
of the property and assume no responsibility in connection
with such matters.
Unless otherwise noted herein, it is assumed that there are
no encroachments, zoning, or restrictive violations
existing in the subject property.
Information, estimates, and opinions contained in this
report are obtained from sources considered reliable; i
however, no liability for them can be assumed by the
appraiser.
This report shall be used for its intended purpose only and
by the parties to whom it is addressed. Possession of this
report does not include the right of publication.
The appraiser may not be required to give testimony or to
appear in court by reason of this appraisal, with reference
to the property in question, unless prior arrangements have
been made therefor.
The statements of value and all conclusions shall apply as
of the dates shown herein.
The appraiser has no present or contemplated future
interest in the property which is not specifically
disclosed in this report.
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ASSUMPTIONS AND LIMITING CONDITIONS (Continued)
The appraiser has not been provided the actual land area
included within the 100 year flood plain. The area used
is based on the appraiser' s calculations. Said area is
felt to be reasonably accurate however a detailed survey
may necessitate an adjustment of the flood plain area.
The soil report was not completed at the time of appraisal.
It is assumed that no adverse soil conditions will be
found.
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NEIGHBORHOOD DESCRIPTION
The subject property is located within, and on the periphery
of the Tigard Central Business District. The neighborhood is
generally delineated by SW Pacific Highway to the north and
west; by Highway 217 to the east, and by Fanno Creek to the
south.
The area so encumpassed is comprised of a combination of
several zones including the Central Business District Zone
ilying to the west of Hall Blvd., and by a light industrial
zone lying to the east of Hall Blvd. Those areas lying to the
south of Fanno Creek consist of residential properties and are
subject to separate influences from that of the subject
neighborhood.
The subject is located approximately one half mile southeast
of Main Street in Tigard. Main Street is the site of the
original Central Business District and has been improved with
a variety of smaller retail and service oriented enterprises.
The majority of the central business development has been
oriented to Main Street, however the business district has
j gradually been expanding towards the south and east. While
there are scattered instances of commercial development
between Hall and Main Street, there have been few instances of
intensive commercial development in the immediate vicinity of
the subject.
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The subject property fronts along the west side of SW Hall
Blvd. at a point approximately one half mile south of the
Pacific Highway. SW Hall Blvd. is a two lane north/south
arterial which runs south and ultimately links with the cities
or Durham and Tualatin approximately 3 miles south of the
subject. SW Hall also extends northerly, terminating at the
city of Beaverton approximately 3 miles to the north.
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iOther north/south arterial routes are somewhat limited due to
the presence of State Route 217 and by the Pacific Highway.
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For the most part, the recent commercial development has taken
place along the Pacific Highway Corridor. Both routes provide
exposure and accessibility. In contrast, commercial
development along SW Hall Blvd. is less intense and generally
limited in the vicinity of the subject.
Uses in the immediate vicinity of the subject are generally
industrial in nature and include a small industrial warehouse/
shop directly opposite the subject. An electrical contractor
is located to the north of the subject, and the General
Telephone Company has an office and corporation yard adjacent
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and west of the subject. The parcel adjacent to the south
will be retained for open space along Fanno Creek. Additional
industrial uses are noted in the vicinity to the north of the
subject, and include the former Air Ring Lumber Company on the
northwest corner of SW Hall and SW Burnham Street. Likewise,
the areas to the east of SW Hall Blvd. have been developed in
keeping with the light industrial zone. Said industrial
development has extended eastward to the freeway.
In summary, the subject is located on the periphery of the
Tigard Central Business District. The immediate vicinity is
_ zoned for central business district development however the
existing uses in the immediate vicinity are generally
industrial in nature. The subject is somewhat removed from
the commercial influences. The transitional nature of the
neighborhood is evidenced by the mix of industrial and
scattered commercial uses.
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GENERAL. PROPER'T'Y INFORMATION
OWNER
Richard N. Sturgis
Home Telephone: 246-6520
Office Telephone: 627-4567
LOCATION
r The subject property is located on the west side of SW Hall
Blvd. approximately 200 feet south of SW Burnham Street, in
the City of Tigard.
LEGAL. DESCRIPTION
A complete legal description has not been provided by
appraiser. The subject consists however of a portion of Tax
Lot 400 on Washington County Assessor's Map 2S-1-2DA. The
appraiser has been provided a copy of a recent survey
delineating the subject. Said survey has been included in the
Addenda of this report.
SITE AREA
The subject property contains a total area of 3.80 acres, or
165,528 square feet.
ZONING
The subject property is located in the CBD zone under the
jurisdiction of the City of Tigard. Said zone allows for
central business district uses including the majority of those
uses allowed in the General Commercial Zone. The Central
Business District Zone has no minimum size or dimensional
requirements. The CBD zone has a building height limitation
of 80 feet. The maximum site coverage shall be 85%. A
summary of the CBD zoning criteria has been included in the
Addenda.
ACCESS
The subject fronts 195.27 feet along the west side of SW Hall
Blvd. SW Hall is a two lane hard surfaced road having gravel
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shoulders. As previously noted, SW Hall Blvd. intersects
with SW Pacific Highway approximately one half mile to the
north. No additional access has been provided to the subject.
— I UTILITIES
Water service is provided to the subject by the Tigard Water
District. Sanitary sewer has been extended to the site, with
a manhole being located along the westerly property line .
Telephone is provided via General Telephone Company
ASSESSED VALUE AND TAXES
The subject property has been assigned Tax Account No. 2S-1-2DA,
Tax Lot 400. The True Cash Value as estimated by the Assessor
for the 1984/85 tax year is:
Land $386 , 800
Improvements 0
Total $386, 800
The taxes for the 1983/84 year were $7, 397. 67.
PRESENT USE
The subject property is currently vacant and unimproved.
HISTORY
No sales involving the subject property have occurred within
the past 10 years. The appraiser notes however that an Option
Agreement was drafted for the subject on November 1, 1982.
The site was optioned by Prestige Properties, Inc . for a
reported price of $988,000 . The parcel was reportedly being
acquired for the development of a retirement complex. The
Option Agreement was never completed.
INSPECTIONS
The appraiser was accompanied by Mr. Richard Sturgis on his
inspection of the site of June 14, 1984 .
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HIGHEST AND BEST USE
In determining the Highest and Best Use of the site, the
appraiser has considered both the development potential under
the existing Central Business District Zone, as well as the
locational characteristics of the site. As previously noted,
the Central Business District designation provides for a wide
range of commercial uses combined with a relatively high
density afforded by the 80 foot height restriction.
The Highest and Best Use is defined as being the use, from
among reasonably probable and legal alternative uses, found to
be physically possible, appropriately supported, financially
feasible, and that results in the highest present land value.
In determining the Highest and Best Use, the appraiser notes
that the Central Business District Zone allows a wide variety
of uses, including relatively high density of development.
The configuration and physical characteristics of the site
will allow for most types of development. These tests
therefore would suggest a wide variety of use potentials.
When considering the financial feasibility of development, the_
appraiser notes that the location of the site on the periphery
of the commercial district places severe restraints on
financial feasibility for a high density development. The
marginal demand for commercial properties in the immediate
subject vicinity would not justify a development of the
subject to the maximum legal density.
In considering the feasibility of a potential development, one
must also consider the influence of adjacent properties.
Given the location immediately west of and opposite a major
industrial area, and considering the transitional commercial
nature of the vicinity, it is felt that the most likely
development would have a density somewhat less than that
allowed within the existing zone. Based on development of
similar peripherial commercial properties, it is felt that the
most probable and feasible use of the subject site would be
for a retail distribution outlet or perhaps for professional
office buildings.
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SITE DESCRIPTION
The subject property is an irregular tract containing a total
area of 3.80 acres. The parcel fronts approximately 220 feet
along the west side of SW Hall Blvd. The parcel has a maximum
depth of 478 feet and a maximum width of 483.75 feet as
measured along the westerly property line.
The northerly property line extends south 272.72 feet and then
turns a right angle to the north for 162 feet. The northerly
line then turns west 205.33 feet to the northwest corner of
the parcel.
The subject has a slightly sloping topography with the highest
point being near the northwest property corner. At this
point, the maximum elevation is approximately 154 feet. The
elevation measures approximately 152 feet near the northeast
property corner. The remainder of the site slopes gradually
down towards the south generally ranging between 152 feet down
to 146 feet. Only a small portion of the site falls below the
top of the creek bank. The area below the creek bank is
estimated at approximately 6,350 square feet. This amount
includes 1,393 square feet to the south of the stream bed. The
remainder of the property is generally above the 100 year
flood level.
Conversations with the property owner indicated that fill
material has been deposited on portions of the site over the
years. In this respect, the appraiser contacted Mr. Iry
Cooper who is in process of completing a soil evaluation
report on the site. Mr. Cooper indicated that there are a few
'- isolated spots of heavy fill material. He said that these are
insignificant in relation to the overall site however. He
further indicated that given proper grading and clearing, the
site is capable of supporting typical development within the
scope of the Highest and Best Use of the site.
A copy of the soils report was not available to the appraiser.
It is assumed however that no additional adverse findings will
be concluded by the soil engineer.
The appraiser contacted Mr. Reith Liden of the Tigard Planning
Staff. Mr. Liden indicated that the 100 year flood plain in
the vicinity of the subject was at elevation 144 near Hall
Blvd., and approximately 145 feet near the west subject
property line. Except for approximately 6,350 square feet,
the entire subject is above the 100 year flood level.
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VALUATION
Ordinarily, there are three classic approaches that can be
used in estimating the value of real estate. These are the
Market Data Approach, the Cost Approach, and the Income
Approach. Typically, neither the Cost nor the Income Approach
is applicable to the valuation of vacant land. Because the
appraisal assignment is for that of land alone, the appraiser
-' has used only the Market Data Approach in this report.
MARKET DATA APPROACH
In application, the appraiser has researched the sales of
i vacant commercial acreage in the suburban areas of east
Washington County. Of the available data, the following
transactions were helpful to the appraiser:
'- Sale
T Grantee Date Price Area Unit Price
1 Tigard Water 7/84 $525,000 5.0 AC 52.41/SF
District
2 H.G.W. 6/84 $1,018,647* 9.75 AC 52.40/SF
3 Kan-Air 3/83 $153,000 1.28 AC $2.74/SF
4 Martin 12/82 $135,000* 1.0 AC 53.19/SF
5 Listing current $661,200 5.06 AC 53.00/SF
*price includes LID costs.
In reviewing the sales, the appraiser notes that the
transactions occurred between December, 1982 and present.
There has been little change in the real estate market
throughout the entire period, and no time adjustments have
been considered.
A further discussion of each of the various sale properties
will be undertaken in the following paragraphs.
Sale No. 1 - Camp to Tigard Water District: This
transaction involves a 5.0 acre tract located on the northwest
corner of SW Burnham Street and Hall Blvd. The level parcel
reportedly contained 5. 16 acres, however the listing agent
indicated that the price was based on a total area of 5.0
acres. This property is the former site of the Air King
Lumber Company. The property had been improved with various
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industrial buildings which were attributed no value by the
purchaser. The transaction is to close January 2, 1984.
Terms of the contract include a 5125000 downpayment with a
$400,000 balance to be paid in four annual payments at 6%
interest. The low interest rate was reportedly offset by tax
advantages associated with the buyer's quasi-governmental
status. Further, the terms of the contract provided that the
seller could retain all rental income for 12 months. The
current income level is approximately $3,000 per month net to
the owner. At a 12% yield, the rental income contributes
additional consideration of approximately $34,000. This
amount together with the stated price suggests actual
consideration of $559,000 or approximately $2.57 per square
foot.
In comparison, it is felt that the subject is superior from
the standpoint of its proximity to the open spaces to the
south. Further, the sale property would necessarily be
adjusted upward to allow for the demolition and site
preparation associated with the former lumber company
improvements. All considered then, the value for subject
would be above this value indicator.
Sale No. 2 - Christen to Williams: This transaction involves
a 9.75 acre tract located on the northerly side of Highway 217
at SW 79th Avenue in Tigard. The transaction occurred in
June, 1984 for $911,198. In addition, the purchaser will be
required to assume an LID assessment of $107,449 for pending
road construction. The total price for the finished property
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then is $1,018,647 or approximately $2.40 per square foot.
This parcel is located in a General Commercial Zone within the
City of Tigard. The parcel is somewhat superior to the
subject from the standpoint of freeway exposure. An offset is
the sloping topography and the lack of immediate access to the
parcel. Further, the sale property is somewhat larger than
-" the subject necessitating a further upward adjustment. Again,
this sale is helpful in establishing the lower value bracket
for the subject.
Sale No. 3 - Plagman to Ran-Air Development Company: This
transaction involves a 1.28 acre tract which sold in March,
1983 for $153,000. The parcel was located on the southeast
corner of SW Lower Boones Ferry Road and Upper Boones Ferry
Road. On a unit basis, this sale indicates $2.74 per square
foot. The sale property is slightly irregular corner parcel.
The site is generally level and has subsequently been improved
with a professional office building. This parcel enjoys a
commercial office zone which has fewer uses as enjoyed by the
CBD zone of the subject. The parcel is otherwise comparable
and except for the differences in location, would provide an
excellent value indicator for subject.
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Sale No. 4 - Johansen to Martin: This transaction involves a
1 acre site located at 6700 SW Bradbury Court in Tualatin.
The sale occurred in December, 1982 for $125,000. In
addition, the buyer was responsible for an $11,000 LID
assessment plus $2 ,800 for demolition costs. The total price
to the purchaser was $138, 800 or $3. 19 per square foot. This
parcel enjoys a General Commercial Zone and is quite similar
to the subject.
Sale No. 5 - Current Listing: This transaction involves a
5. 06 acre tract located on the southeast corner of Bridgeport
Road and SW Upper Boones Ferry Road near Durham. The parcel
is currently being offered with a price of $661,200 or $3 .00 per
square foot. This is a level corner site with relatively good
access and exposure. This parcel is zoned for office
commercial development and is less desirable to the subject in
this regard. Further, the parcel has a narrow configuration
which may pose some development limitations.
SUMMATION
The above sales indicate a value range for the subject falling
between a low of $2 . 40 per square foot, to a high of $3.19 per
square foot. All sales involve suburban commercial acreage
which is slightly removed from the main commercial areas . All
sales have potential for commercial development, however in
the case of Sales 3 and 5, the zoning is limited to develop-
ment of office structures. Said sales suggest prices of $2 . 74
and $3. 00 per square foot respectively. All considered, the
appropriate value for subject would be slightly higher than
these sales would indicate.
Sales 1 , 2 and 4 involve parcels zoned for General Commercial
Development. Further, Sale No. 1 like the subject enjoys the
CBD Zone allowing for central business district development.
Sale 2 and 4 are slightly more restrictive in their develop-
ment potential with General Commercial Zones. Admittedly, the
situation of the subject would preclude most intensive central
business district uses. The CBD zone does however provide some I
development flexibility not enjoyed by the other sales.
When considering the zoning differences, the subject's proximity
to the CBD, and the subject' s situation along a major open
space, it is felt that a value for subject near the upper range
is appropriate. Primary weight would ordinarily be given to Sale
No. 1 which is most similar to the subject proximity, and zone.
In this instance, the additional considerations noted in the
previous discussion would suggest that the stated con-
sideration was in fact somewhat conservative. Further, after
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considering the amenities of the subject' s adjacent open areas,
it is felt that a value for subject of approximately $3. 00 per
square foot of the usable area results .
In the previous discussions of site characteristics, it is
noted that the subject contains 3. 80 acres, or 165 ,528 square
feet. After deducting the 6 , 350 square feet of flood area, a
total net usable area of 159,178 square feet results. This
amount times the $3. 00 per square foot figure equals a total
value for subject of:
159,178 square feet x $3.00 = $477, 534
say $478 ,000
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ERTIFICATION
The undersigned does hereby certify that, except as
otherwise noted in this appraisal report:
1. I have no present or contemplated future interest
in the real estate that is the subject of this ap-
praisal report.
2. I have no personal interest or bias with respect to
the subject matter of this appraisal report or the
parties involved.
3. To the best of my knowledge and belief the state-
ments of fact contained in this appraisal report, upon
which the analyses, opinions, and conclusions ex-
pressed herein are based, are true and correct.
4. This appraisal report sets forth all of the limiting
conditions (imposed by the terms of my assignment or by
the undersigned) affecting the analyses, opinions and
conclusions contained in this report.
5. The amount of compensation received is not contingent
upon reporting a predetermined value or upon the
amount of value estimate.
6. This appraisal report has been made in conformity
with and is subject to the requirements of the
Professional Ethics and Standards of Professional
Conduct of the American Institute of Real Estate
Appraisers of the National Association of Realtors.
7. No one other than the undersigned prepared the
analyses, conclusions and opinions concerning real
estate that are set forth in this appraisal report.
8. George W. Donnerberg has personally inspected the
subject property.
9. The American Institute of Real Estate Appraisers
conducts a voluntary program of continuing education
for its designated members. MAIs and RMs who meet the
minimum standards of this program are awarded periodic
educational certification. George W. Donnerberg is
certified under this program through September 15, 1986.
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George W. Donnerberg, MAI
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A D D E N D A
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PHOTOGRAPHS SUBJECT PROPERT
• west viewing subject • across Blvd.
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Facing southwest viewing subject • across Blvd.
PHOTOGRAPHS -
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(Continued)
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Facing north viewing frontage along SW Hall Blvd. from a point
near and opposite the southeast property corner.
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' Facing south viewing frontage along SW Hall Blvd., from near
and opposite northeast property corner.
Donnerbers Appraisal Co.
PHOTOGRAPHS - SUBJECT PROPERTY
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a
Facing east viewing along northerly property line from near
northwest property corner.
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A
Facing southeast viewing property from near midpoint of site.
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PHOTOGRAPHS - SUBJECT PROPERTY
(Continued)
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' Facing southwest viewing subject and adjacent property west
from near the northerly property line.
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' Facing southwest viewing across subject from near midpoint of
site.
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TOPOGRAPHICAL MAP
SALE N0. 1
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' General Information
' Location: Northwest corner of SW Burnham Street
and SW Hall Blvd. , Tigard, Oregon.
Legal Description: Portion of the SE 1/4 of the NE 1/4 of
Section 2 T2S, R1W, W M, Washington
County, Oregon.
Date: To close July 2, 1984
Price: $525,000 j
' Grantor : Van S. Camp
Grantee: Tigard Water District �
Recording: Not available
f
Map No. : 2S-1-2AD
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Tax Lot No. : 2000 and 2100
Zone: CBD
Site Size: 5. 16 acres (sale based on five acres)
' Verified: John Jaehrling, 639-1111
Donnerberg Appraisal Co.
Property
The sale consists of an irregular site situated between SW
Burnham, and the railroad right-of-way. This parcel also has
approximately 240 feet of frontage along SW Hall Blvd. This
parcel was the former site of the Air Ring Lumber Company and
has a number of large industrial buildings which were
attributed no value by the purchaser.
Comments
The terms of sale involved a $125,000 downpayment including
$48,000 cash and $77,000 in traded equity. The balance of
$400,000 is to be paid in four annual payments of $100,000 and
interest. The low interest rate was offset by tax advantages
in selling to a quasi-governmental agency. The seller also
retained the right to rental income for 12 months. This site
is currently producing approximately $3,000 per month. The
present value of the income at 12$ would suggest additional
consideration of $34,000.
Analysis
State Price: 52.41/SF
Inclusive of rental income: $2. 57/SF
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Donnerberg Appraisal Co. _ J
SALE NO. 2
FOR SALE
General Information
Location: Northerly side of Highway 217 at SW 79th
Avenue, Tigard, Oregon.
Legal Description: Lots 4, 5, 6, 7 and 8, PALMER ACRES,
j Washington County, Oregon
Date: June 6, 1984
Price: $911,198
Grantor : Lewis Christen
Grantee: Homes G. Williams
Recording: 84-22482
Map No. : 2S-1-1BA
Tax Lot: 200
Zone: CG
Site Size: 9.75 acres
Verified: Don Maltase, Coldwell Banker
Donnerberg Appraisal Co.
e
The sale consists of a narrow parcel having limited access,
with frontage onto Highway 217. New road access is to be
developed via a limited improvement district within the next
year. The parcel has a rolling topography however the
majority of the highway frontage is relatively level.
Comments
The site will be encumbered with an LID assessment of $107,449
for road construction. Terms of sale included $118,197.38
down, with a balance of $793,000.62. Interest is at 10% per
year quarterly. An interest free credit will be given until
LID construction commences, or to a maximum of one year. The
contract will become due upon commencement of development, or
no later than six years.
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Donnerberg Appraisal Co.
' SALE NO._2
.. General Tnformation
Location: SE corner of SW Lower Boones Ferry Road
and SW Upper Boones Ferry Road,
Tualatin, Oregon.
' Legal Description: T portion of the NW 1/4 of Section 24,
2S, R1W, WM, Washington County, Oregon.
' Date: March, 1983
Grantor : Ronald L. Plagman
' Grantee: Ran-Air Development Company
Recording: 83-9197
t
Map No. : 2S-1-24AB
' Tax Lot No. : 1300
Zone: Commercial - Office
Site Size: 1. 28 acres
Donnerberg Appraisal Co.
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property Description
The subject has a slightly irregular configuration but is
relatively level and has good exposure.
Comments
The transaction was a cash sale. An office building has
subsequently been constructed on the site.
Analysis
Price: $2.74/SF
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Donnerberg Appraisal Co. J
SALE NO, 4
ALI
Y� w +fir. • - �
General Information
Location: 6700 SW Bradbury Court, Tualatin, Oregon
Legal Description: Portions of Section 13, T2S, R1W, WM,
Washington County, Oregon.
� Date: December, 1982
' Grantor : Johansen
Grantee: Lonnie D. Martin
Recording: 82-33453
Map No. : 2S-1-13A
' Tax Lot No. : 2800
' Zone : CG
Site Size: 1. 00 acres
Donnerberg Appraisal Co.
Property Description
The sale property consists of a level rectangular parcel which
was improved with an old house at the time of sale. All
utilities were available with the exception of sewer and water
which were extended at a cost of $11,000.
Comments
Inclusive of the $11,000 LID assessment, and $2,800 demolition
cost, the total price was $138,800. The sale was based on a
contract with $25,000 down, 11% interest only payments with a
4 year balloon.
Analysis
Price: $3.19/SF inclusive of all costs
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Donnerberg Appraisal Co.
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SALE NO, 5
9 E
A
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' General Information
Location. SE corner of Bridgeport Road and SW
Upper Boones Ferry Road, Durham,
' Oregon. i
Legal Description: A portion of Section 13 , T2S, R1W, WM,
' Washington County, Oregon.
Date: current listing
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' Price: $661,200
Grantor : Richard C. Matthews
' Grantee: N/A
' Recording: N/A
Map No. : 2S-1-13D
' Tax Lot: 400
Zone: Office/Commercial
' Site Size: 5.06 acres
1 J Donnerberg Appraisal Co.
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Property Description
The subject consists of a narrow rectangular site. The parcel
is level and is at street grade. The parcel has generally
-- I good access and exposure.
Comments
The offerors have received an offer for $2.75 per square foot
for the site.
Analysis
Price: 53.00/SF asking
52.75/SF offered
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Donnerberg Appraisal Co. J
18.66. CBD (CENTRAL BUSINESS DISTRICT)
18.66.010 Purpose
The purpose of the CBD zoning district is to provide for a
concentrated, central commercial office and retail area which
also provides civic, high density residential and mixed uses.
18.66.020 Procedures and Approval Process
A. A use permitted outright, Section 18.66.030, is a use which
requires no approval under the provisions of this code. If a
use is not listed as a use permitted outright, it may be held to
be a similar unlisted use under the provisions of Chapter 18.43
(UNLISTED USES).
B. A conditional use, Section 18 .66.040, is a use the approval of
which is discretionary with the Hearings Officer. The approval
process and criteria for approval are set forth in Chapter
18. 130, Conditional Uses. If a use is not listed as a
conditional use, it may be held to be a similar unlisted use
under the provisions of Chapter 18.43 (UNLISTED USES) .
18.66.030 Permitted Uses
A. Civic Use Types
I. Civic services
2. Community Recreation
3 . Cultural exhibits and library services
4. Lodges, fraternal and civic assembly
5. Parking facilities
6. Postal services
7. Public agency administrative services
8. Public safety services
9. Public support facilities
B. Commercial Use Types
1 . Amusement Enterprises
2. Animal sales and services
a. Grooming
b. Veterinary: small animals
3 . Automotive and Equipment
a. Cleaning
b. Repairing: light equipment
4. Building maintenance services
5. Business equipment sales and services
6. Business support services
7. Communication services
8. Convenient sales and personal services
9. Eating and drinking establishments
10. Financial, insurance and real estate services
11 . Food and beverage sales
12. Medical and dental services
III — 103
13. Participation sports and recreation:
a. 1 ndour•
b. Outdoor
14. Personal services: general
15. Professional and administrative services
16. Repair services: consumer
17. Retail sales: general
18. Transient lodging
C. Residential Use Types (See R-40 and R-12 for development
standards)
1. Single family attached residential units
2. Multiple family residential units
The CBD zoning district allows for R• 40 residential development
except within the area south of fanno Creek defined as follows:
All lands bounded by Fanno Creek, Hall Blvd. , Omara, Ash Ave.
and Hill Street within the CBD shall be designated R-12 PD and
shall be developed as planned developments in conformance with
the R-12 district standards.
18..66.040 Conditional Use (Section 18- 130)
A• Adult Entertainment
-- B• Automotive and equipment sales/retail, light equipment
C. Day Care Facilities
D• Utilities
E• Heliports, in accordance with the Aeronautics Division (ODOT)
and the FAA
F. Hospitals
G. Spectator sport and entertainment facilities
H. Group care residential
I. Vehicle Fuel Sales
J. Wholesale, storage and distribution
K. Commercial Parking Facilities
18.66.050 Dimensional Requirements — Non—Residential Uses
A. There are no minimum lot area or lot width requirements.
B• There are no minimum lot width requirements.
C. There are no setback requirements, except 30 Feet where a
commercial use within the district abuts a residential zoning
district.
D• Except as otherwise provided in Section 18.98 (BUILDING HEIGHT
LIMITATIONS), no building in the CBD zone shall exceed 80 feet
in height.
E• The maximum height of any building in the CBD zone within 100
feet of any residential zoning district shall not exceed 40 feet.
F• The maximum site coverage shall be 85 percent.
III — 104
18.66.052 Dimensional Requirements - Residential Uses - R-40
A. There is no minimum lot area per unit.
B. There is no minimum lot width-requirement.
C. The minimum setback requirements are as follows:
I. The front yard setback shall be a minimum of 20 feet.
2. On corner and through lots, the minimum setback for each
side facing a street shall be 20 feet, however, the
provisions of Chapter 18. 102 (VISUAL CLEARANCE) must be
satisfied.
3 . The side yard setback shall be a minimum of 10 feet, except
as provided in subsection (5).
4. The rear yard setback shall be a minimum of 20 feet, except
as provided in subsection (5).
5. Where the side yard or rear yard of attached or multiple
family dwellings abut a more restrictive zoning district,
such setbacks shall not be less than 35 feet.
6. Front of garage to property line abutting a public or
private street shall not be less than 20 feet.
D• Except as otherwise provided in Chapter 18.98 (BUILDING HEIGHT
LIMITATIONS), no building in an R-40 zoning district shall
exceed 60 feet in height.
E• The maximum lot coverage shall be 80 percent.
F. The minimum landscape requirement shall be 20%.
18.66.054 Dimensional Re uirements - Residential Use - R-12 - Special
District
A. There is no minimum lot area per unit.
B. There is no minimum lot width requirement.
C. The minimum setback requirements are as follows:
1 . The front yard setback shall be a minimum of 20 feet.
2. On corner and through lots, the minimum setback for each
side facing . a street shall be 20 feet, however, the
provisions of Chapter 18 . 102 (VISUAL CLEARANCE) must be
satisfied.
3 . The side yard setback shall be a minimum of 10 feet, except
as provided in subsection (5).
II.I - 105
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4. The rear yard setback shall be a minimum of 20 feet, except
as provided in subsection (5).
5. Where the side yard or rear yard of attached or multiple
family dwellings abut a more restrictive zoning district,
such setbacks shall not be less than 35 feet.
6. Front of garage to property line abutting a public or
private street shall not be less than 20 feet.
D. Except as otherwise provided in Chapter 18.98 (BUILDING HEIGHT
LIMITATIONS), no building in an R-40 zoning district shall
exceed 60 feet in height.
E. The maximum lot coverage shall be 80 percent.
F. The minimum landscape requirement shall be 15%.
18.66.060 Additional Requirements
A• Off—street parking and loading, Chapter 18. 106
B. Access and egress, Chapter 18. 108
C. Landscaping and screening, Chapter 18. 100
D• Signs, Chapter 18. 114
E• Nonconforming Situations, Chapter 18. 132
F• Sensitive Lands, Chapter 18.84
III — 106
PROFESSTONAL• QUALIFICATIONS
George W. Donnerberg, M A T
BUSINESS ADDRESS
Donnerberg Appraisal Company
4805 SW Oleson Road
P.O. Box 25086
Portland, Oregon 97225
297-4731
APPRAISAL. EXPERIENCE
Mr. Donnerberg established his independent practice in
January, 1978. Prior to this time, Mr. Donnerberg had been
employed as the Real Estate Appraiser for the City of
Portland. Duties included appraisal of properties to be
acquired or disposed of by the City, as well as the
appraisal of right-of-way including streets, utility
easements and related projects.
Between 1972 and 1975, Mr. Donnerberg was employed as an
appraiser with John E. Day and Associates, a local firm
actively engaged in the appraisal of all types of real
estate.
FORMAL. EDUCATION
Graduated from gram mer school in Portland, Oregon.
Graduated from Reynolds High School in Troutdale, Oregon.
Received B.S. Degree from Portland State University in
1970.
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CERTIFICATE AND LICENSES
Certified Appraiser (for assessment purposes)
Licensed Real Estate Appraiser - State of Oregon
PROFESSIONAL. QUALIFICATIONS
American Institute of Real Estate Appraisers (MAI)
International Right of Way Association (SR/WA)
Donnerberg Appraisal Co. _ J
Mr. Donnerberg has appraised, and/or assisted in the
appraisal of the following types of properties: Single-
family dwellings, multi-family residences, apartments,
-- planned unit developments, churches, subdivisions, general
and medical office buildings, commercial structures,
stores, restaurants, service stations, warehouses,
factories and industrial properties, farms, residential
acreage, fishing resorts, scenic easements, flowage ease-
ments, utility easements, fairgrounds, motels, military
installations, mobile home parks, and lumber yards.
PROFESSIONAL. EDUCATTON
Attended the following college credit courses:
Real Estate Principles and Practices
Real Estate Finance
Real Estate Law
Real Estate Appraisal I
Real Estate Appraisal II
Real Estate Office Management
Completed the following professional courses:
Course VIII - Single Family Residences, presented by
the American Institute of Real Estate
Appraisers, Portland State University,
1974.
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Course 201 - Income Properties,_ p presented by the So- �
ciety of Real Estate Appraisers, Port-
land State University, 1974.
Course 1B - Capitalization Theory and Techniques,
presented by the American Institute of
Real Estate Appraisers, Portland State
University, 1975.
Course lA - Appraisal Principles and Techniques,
presented by the American Institute of
Real Estate Appraisers, Portland State
University, 1976.
Course VII - Industrial Real Estate, presented by the
American Institute of Real Estate Ap-
praisers, University of Portland, 1977.
Course II - Urban Properties, presented by the
American Institute of Real Estate Ap-
praisers, University of Colorado, 1979.
Donnerberg Appraisal Co. J