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Appraisal: APN 053-182-030, S.E. Corner of Maple & Lathrop Streets, Redwood City, Calif.Page 35 <br />2025CNA112 <br />After the qualitative adjustments discussed above, the comparable benchmarks <br />indicate that the unit value would be much less than Comparable 4, less than <br />Comparable 3, about the same as Comparables 1 and 5, and much more than <br />Comparable 2. After disregarding the highest and lowest adjusted unit values, the <br />remaining comparables indicate a market value in the range of about $195 to $205 <br />per square foot of land area. Applying the concluded per unit value range to the <br />usable land area results in a fair market value conclusion range as <br />follows: <br />4,469 SF x $195.00/SF = $871,455 <br />to <br />4,469 SF x $205.00/SF = $916,145 <br />al and physical characteristics, a <br />value conclusion near the upper middle of the range, at $900,000 is concluded. <br />This conclusion is also supported by the analysis of the gross sale prices of the <br />comparables. <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 />The reader is reminded that the conclusion above is based on the exposure time <br />concluded above and subject to the conditions and assumptions displayed at the <br />beginning of this appraisal report. If these were not made, <br />conclusion(s) might be different. <br />8.K. - Page 86 of 105 <br />336