Sales Comparison Approach




Subject Property

Sales Comp 1


Sales Comp 2


Sales Comp 3


Sales Comp 4


Whataburger











Address
1520 Keller Parkway
7826 Denton Hwy

6225 Precinct Line Rd

5200 Davis Blvd.

5351 N Beach St













Sales Price
 $800,000.00
 $955,000.00


 $715,000.00


 $330,000.00


 $768,465.00














Sales Date
7-May-03
3/29/00


9-Nov-98


7-Feb-86


6-Jun-97














Sales Source
TAD
TAD


TAD


TAD


TAD














Value Adjustments














Sales or Financing Concessions

N/A - Conv. Financing

same

same

same











Location

Inferior
-59,000
Superior
150000
Superior
200000
Superior

Leasehold/Fee Simple
Fee Simple
same

same

same

same











Site

Inferior
-20000
Inferior
-10000
Inferior
-15000
Inferior
-5000
Quality of Construction
Q3
Same

Same

Q4
-5000
Same











Actual Age
11 Years
15 years
-3,000
15 years
-3000
28 years
-20000
17 years
-10000
Condition
C3
C3

C3

C4
-10000
C3











Funtional Utility
Averave
Same

Same

Same

Same











Finish Out

Same









Net Adjustment (total)



-82,000


137,000


150,000


-15,000














Adjusted Sales Price of Comparables



873,000


852,000


480,000


753,465

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