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Docusign Envelope ID:ADED06F5-BFB5-43BF-87F1-32AB8A5DEDDF <br /> Evidence submitted by the county representative: <br /> • The subject is a good quality 87,730 square feet warehouse with office located in Mebane. It is <br /> assessed at approximately$62 per square foot and the appellant is requesting a value of <br /> approximately$57 per square foot. There is a previous $4,950,000 sale to consider from <br /> 2022,but there were leases in place, and it appears the leases had been in place awhile and it's <br /> hard to know whether they were at market rates. It is worth noting that the site size is small, <br /> and although the building is competitive,the access to the building is not ideal and wouldn't <br /> suit all users. <br /> • After giving the access/parking/truck access some consideration along with the previous sale,a <br /> value of$5,275,000 or approximately $60 per square foot is supported from the County's <br /> comparable sales and income approach. In application of the County's schedule of values,the <br /> County recommends applying an E03 economic modifier to the property which would reduce <br /> the current valuation of the subject to$5,265,700. <br /> • GIS Map of Subject <br /> • Current Property Record Card(4 pages) <br /> • Proposed Property Record Card(4 pages) <br /> • Comparable Sales and Income Approach <br /> Motion of the Board Accept County's Proposed Value: $5,265,700 <br /> Made the motion Richal Vanhook <br /> Seconded the motion Shannon Julian <br /> Voted For All BOER Members <br /> Voted Against <br /> Property Identification: <br /> Property Owner Buckhorn Industrial II Appellant(if different) Morgan Fowler/Ryan <br /> LLC I LLC <br /> Property Address 6370 Buckhorn Parcel ID or Abstract 9834175146 <br /> Industrial Parkway <br /> Statement of Appeal: Request reduction in value based on a market proforma and equity comparables. <br /> Current Assessed Value $31,419,200 ounty Opinion $31,419,200 <br /> Time of Hearin 9:53 AM Appellant Opinion $28,352,000 <br /> County Representative Roger Gunn Board Decision $31,419,200 <br /> Evidence submitted by the appellant: <br /> • The appellant is requesting a lower valuation based on a market proforma and equity <br /> comparables. The appellant has valued this property collectively with PIN 9834262184 as one <br /> economic unit with a combined requested value of$46,394,000 and$28,352,000 attributable to <br /> the subject parcel. <br /> Evidence submitted by the county representative: <br /> 4 <br />