Laserfiche WebLink
Appraisal: APN 053-182-030, S.E. Corner of Maple & Lathrop Streets, Redwood City, Calif.Page 3 <br />2025CNA112 <br />The date of this Appraisal Report is May 6, 2025. <br />G. Definition of Market Value <br />Market value means most probable price, as of a specific date, in cash, or in <br />terms equivalent to cash, or in other precisely revealed terms, for which the <br />specified property rights should sell after reasonable exposure in a competitive <br />market under all conditions requisite to a fair sale, with the buyer and seller each <br />acting prudently, knowledgeably, and for self-interest, and assuming that neither <br />is under undue <br />2 <br />In this <br />interchangeably. <br />H. Market Value Conclusion <br />Based on the research and analysis, and subject to the assumptions and limiting <br />conditions contained herein, it is the opinion of the appraiser that the fair market <br />value of the fee simple interest in the subject property, as of April 30, 2025, is: <br />NINE HUNDRED THOUSAND DOLLARS <br />($900,000) <br />I. Exposure Time <br />The subject is part of a limited market in that there would be few potential buyers. <br />Based on the actual exposure times for the sale of similar properties, together with <br />conversations with active brokers in the market, and given the price level of the <br />fair market value conclusion, it is my opinion that the fee simple interest being <br />appraised would have been offered on the market for approximately six to nine <br />months, prior to the hypothetical consummation of a sale at the concluded opinion <br />of market value, as of the effective date of value. As such, it is the <br />opinion that a reasonable exposure time for the subject property is 6 to 9 months. <br />2 Appraisal Institute, The Dictionary of Real Estate Appraisal,7th ed. (Chicago: Appraisal Institute, 2022) <br />8.K. - Page 49 of 105 <br />299