CIP 101150 - Land Appraisal Summaries.pdf
Extracted text (via pymupdf)
8571 characters
NARRATIVE APPRAISAL REPORT Of a 0.895-Acre Right Of Way and A 0.884-Acre Drainage Easement Along The Frontage of a 154.11-Acre Vacant Land Tract Located at the Northwest Corner of Verrado Way and Yuma Road Buckeye, Arizona 85326 The State of Arizona Right Of Way and Drainage Easement Acquisition Prepared For: Ms. Allyson Camillucci, PE Contract Project Manager City of Buckeye 530 East Monroe Avenue Buckeye, AZ 85326 Date of Valuation: December 20, 2025 Report Date: January 27, 2026 Prepared By: Wayne Harding, MAI WAYNE HARDING & ASSOCIATES PROFESSIONAL REAL ESTATE VALUATION 9420 East Doubletree Ranch Road, Suite C-110 Scottsdale, Arizona 85258 WAYNE HARDING & ASSOCIATES PROFESSIONAL REAL ESTATE VALUATION 9420 East Doubletree Ranch Road, Suite C-110 Scottsdale, Arizona 85258 480-609-7090 wayne.harding@cox.net January 27, 2026 Ms. Allyson Camillucci, PE Contract Project Manager City of Buckeye 530 East Monroe Avenue Buckeye, AZ 85326 Re: Appraisal of a proposed 0.895-Acre Right Of Way and a 0.884-Acre drainage easement along the frontage of a 154.11-acre tract of residential development land located at the northwest corner of Verrado Way and Yuma Road in Buckeye, Arizona 85326. Dear Ms. Camillucci: At your request, the above-referenced right of way and drainage easement have been appraised. The larger parcel of which the proposed right of way and drainage easement are a part is a 154.11- acre tract of residential development land. The proposed right of way and drainage easement are to be used for the widening and improvement of the intersection of the two arterial streets. The purpose of the appraisal is to formulate an opinion of the market value of the proposed right of way and the drainage easement, as of the effective date of the appraisal on December 20, 2025. The intended use of the appraisal is to assist the client in acquiring the right of way and drainage easement. It is not intended for any other use. The client is the City of Buckeye. The client is also the intended user of the report. The property owner is an additional intended user. This report is not to be used by any other party or for any other purpose without the written consent of Wayne Harding & Associates. The property was inspected and analyzed for the purpose of formulating an opinion of the market value of the right of way and drainage easement, as defined in this report, as of December 20, 2025. The report is prepared to conform to the 2024-2025 Edition of the Uniform Standards of Professional Appraisal Practice (USPAP) for an appraisal report, as I understand them. It contains a description of the property appraised and the analysis of the data leading to the values concluded. The data, opinions, and conclusions discussed are subject to the assumptions and limiting conditions cited on page 7 and 8 of the accompanying report. Appraisal of this type of partial acquisition involves considering the value of the right of way and drainage easement as a part of the land of which they are a part. Based upon the points discussed in the attached report, the right of way and drainage easement are concluded to be a part of a single tract of residential development land totaling 154.11 acres that is owned by State of Arizona. As a conclusion of the analysis the final opinion of the market value of the fee simple interest of the larger parcel of which the right of way is a part, as of December 20, 2025, is: TWENTY ONE MILLION FIVE HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($21,575,000) The final opinion of the market value of the right of way and the drainage easement, as of December 20, 2025, is: TWO HUNDRED SIXTEEN THOUSAND THREE HUNDRED DOLLARS ($216,300) No hypothetical conditions are necessary to complete this appraisal Further, no extraordinary assumptions are necessary to complete this appraisal. Respectfully submitted, Wayne Harding & Associates Letter of Transmittal Ms. Allyson Camillucci City of Buckeye January 27, 2026 Page 2 LINE TABLE NO. LENGTH BEARING N:\04366\CADD\Exhibits\ROW.EXH.dwg KYLES January 6, 2026 OF 1 1 VERRADO WAY & YUMA ROAD NORTHWEST CORNER R/W 4550 North 12th Street Phoenix, Arizona 85014 Phone 602-264-6831 http://www.cvlci.com SCALE 1" = 150' EXHIBIT YUMA ROAD VERRADO WAY SECTION 12 T1N, R3W NARRATIVE APPRAISAL REPORT Of a 1.599-Acre Right Of Way Along The South Frontage of a 156.06-Acre Tract of Land Located at the Northeast Corner of Verrado Way and Yuma Road Buckeye, Arizona 85326 The State of Arizona Right Of Way Acquisition Prepared For: Ms. Allyson Camillucci, PE Contract Project Manager City of Buckeye 945 N 215th Avenue, Suite 137 Buckeye, AZ 85326 Date of Valuation: December 20, 2025 Report Date: January 27, 2026 Prepared By: Wayne Harding, MAI WAYNE HARDING & ASSOCIATES PROFESSIONAL REAL ESTATE VALUATION 9420 East Doubletree Ranch Road, Suite C-110 Scottsdale, Arizona 85258 WAYNE HARDING & ASSOCIATES PROFESSIONAL REAL ESTATE VALUATION 9420 East Doubletree Ranch Road, Suite C-110 Scottsdale, Arizona 85258 480-609-7090 wayne.harding@cox.net January 27, 2026 Ms. Allyson Camillucci, PE Contract Project Manager City of Buckeye 945 N 215th Avenue, Suite 137 Buckeye, AZ 85326 Re: Appraisal of a proposed 1.599-Acre Right Of Way along the frontage of a 156.06-acre tract of residential development land located at the northeast corner of Verrado Way and Van Buren Street in Buckeye, Arizona 85326. Dear Ms. Camillucci: At your request, the above-referenced right of way has been appraised. The larger parcel of which the proposed right of way is a part is a 156.06-acre tract of residential development land. The proposed right of way is to be used for the widening and improvement of the intersection of the two arterial streets. The purpose of the appraisal is to formulate an opinion of the market value of the proposed right of way, as of the effective date of the appraisal on December 20, 2025. The intended use of the appraisal is to assist the client in acquiring the right of way. It is not intended for any other use The client is the City of Buckeye. The client is also the intended user of the report. The property owner is an additional intended user. This report is not to be used by any other party or for any other purpose without the written consent of Wayne Harding & Associates. The property was inspected and analyzed for the purpose of formulating an opinion of the market value of the right of way, as defined in this report, as of December 20, 2025. The report is prepared to conform to the 2024-2025 Edition of the Uniform Standards of Professional Appraisal Practice (USPAP) for an appraisal report, as I understand them. It contains a description of the property appraised and the analysis of the data leading to the values concluded. The data, opinions, and conclusions discussed are subject to the assumptions and limiting conditions cited on page 7 and 8 of the accompanying report. Appraisal of this type of partial acquisition involves considering the value of the right of way as a part of the larger parcel of which it is a part. Based upon the points discussed in the attached report, the right of way is concluded to be a part of a single tract of residential development land totaling 156.06 acres that is owned by State of Arizona. As a conclusion of the analysis the final opinion of the market value of the fee simple interest of the larger parcel of which the right of way is a part, as of December 20, 2025, is: TWENTY ONE MILLION EIGHT HUNDRED FIFTY THOUSAND DOLLARS ($21,850,000) The final opinion of the market value of the right of way, as of December 20, 2025, is: TWO HUNDRED TWENTY THREE THOUSAND EIGHT HUNDRED FIFTY DOLLARS ($223,850) No hypothetical conditions are necessary to complete this appraisal Further, no extraordinary assumptions are necessary to complete this appraisal. Respectfully submitted, Wayne Harding & Associates Letter of Transmittal Ms. Allyson Camillucci City of Buckeye January 27, 2026 Page 2 LINE TABLE NO. LENGTH BEARING N:\04366\CADD\Exhibits\ROW.EXH.dwg KYLES January 7, 2026 OF 1 1 VERRADO WAY & YUMA ROAD NORTHEAST CORNER R/W 4550 North 12th Street Phoenix, Arizona 85014 Phone 602-264-6831 http://www.cvlci.com SCALE 1" = 150' EXHIBIT YUMA ROAD VERRADO WAY SECTION 7 T1N, R2W