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Rebuttal Information <br />PA chart in response to the 1111312020 Udell e-mail (This Information was not discussed at the <br />hearing, but was included with the PA information) <br />B. List of Petitioner (PET) exhibits/witnesses: <br />The petition was filed on behalf of Dinari Hospitality by Nathan Mandler. The: Petitioner was <br />represented at the hearing by Robb Udell, Rennert Vogel Mandler & Rodriguez, P.A. via zoom. <br />Petitioner evidence includes: <br />-Rennert Vogel Mandler & Rodriguez P.A. cover letter <br />-Summary of Evidence <br />-Property Summary <br />-Subject PA information & PA aerial site map <br />-Subject Property Record Card <br />-Subject income statement <br />=Monthly STAR Report, January 2020 <br />-Comp Set STAR Summary, January 2020 (1 month) <br />-Monthly STAR for the month of July 2420 <br />-Cap Rate Support <br />-RERC First -Tier Investment Properties <br />-North America Cap Rate Survey, Second Half 201.9 <br />-Realty Rates Investor Surveys <br />-Expense Support <br />-CBRE Limited -Service Hotels <br />Income Analysis <br />-Discount for Rent Loss <br />-DR-493, Adjustments made to recorded selling prices or FairMarket Value in arriving at <br />Assessed Value, Indian River County <br />-Bulletin PTO 11-01, VAB Petitions and the 81 Criterion <br />C. Summary of evidence presented by the Property Appraiser (PA): <br />The subject property is a new motel, Fairfield Inn (Marriott) located_a t 9055 American Way, Vero <br />Beach, Florida. The facility is located east of Interstate 95 and south of State Road 60, The <br />property includes a total of 3 acres, with 80 motel rooms. <br />1 <br />The PA provided 7 motel sales, one in 2017, one in 2018, and 5 in 2419. One sale is located in <br />Indian River County, and 6 sales are located in St. Lucie County. The':sales indicate a.sale price <br />per room ranging from $36,574 to $120;417. One of the sales includes restaurant, one sale is. <br />located on the river. One sale was constructed in 1954, one in 1988, one in 1991, one in 1999, and <br />two In 2005. The number of rooms in the sales varies from 12 to. 142.. <br />The sales support a mean.sale price of $77,915 per room or $130.281 s.f. The subject is assessed <br />at $49,976 per room, or $87,751 s.f.. <br />Vacant land sales chart provided, six land sales (3.95 ac to 9.66 ac) include two from 2017, two <br />-60- <br />