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~ ' Melvin Mark Development Company <br />Mr. Craig Lewis <br />December 29, 1999 <br />Page 2 <br />1 000 SF Retail - 1 st Floor Only <br />12 ~ 1,850,00~ $1,260,000 $590,000 10°6 ~~5.~~ <br />2 , <br />000 SF O~ce - 1 st & 2nd Floors <br />28 $3,830,00~ $3,320,000 $510,000 10% $5 ~•~ <br />3 , <br />12,000 SF Retail - 1 st Floor $5,540,000 $4,530,000 $1.01 ~•000 10% $101,000 <br /> 28,000 SF Office - 2nd 8. 3rd Floors <br />000 $3.450,000 <br />410 <br />$3 <br />($40,000) ~~ ~~ <br />4 12,000 SF Retail - i st Floor , <br />, <br /> 28 artment Units - 2nd 8. 3rd Floors <br />000 SF Retail - 1 st Floor <br />12 <br />$3,120,000 $2.240,000 <br />$88~.000 <br />~ ~% ~ <br />$~- <br />5 , <br />28 A artment Units - 2nd Floor Onl <br />N/A N/A <br />N/A <br />N/A <br />$43.000 <br />b Interim Parking Use <br />The following report is divided as follows: Preliminary Information, Assumptions 8~ Limiting <br />Conditions, Description, Market Analysis, Int~oduction to Development Scenarios, Maximally <br />Productive Use, and Ground Lease Analysis. In addition to the uncie~signed, Jason Tokarski <br />provided significant professional assistance. <br />Sincerely, <br />Palmer, Groth 8~ Pietka, Inc. <br />s~- <br />~v~.~~ ~ . '~ <br />Donald R. Palmer, MAI <br />OR State Certified General Appraiser <br />No. 000060 <br />- ~u-Lt <br />aniel R. Orman <br />OR State Certified General Appraiser <br />No. C000179 <br />DRP:DRO:jet <br />P99239 <br />~ Includes annual income of $16,000 from lease of remaining 32 parking spaces not util'ized. <br />PALMER, GROn~ 8~ Pi~xn, INC. <br />