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on --the average sale price of $:3.70 SF : the PA: concluded at preliminary. value: : (marketvalue) for. the 11:55 acres at $33QSF or. $_1,861:,536. (A:15% deduction for the cost of sale. (COS) was not applied to the estimate of market value by'th ..... PA:to indicate a just:value.:Applying a 15%: COS adjustment to::the preliminary: value: would result in a just value of $1,582,306:.) The PA testified that, considering a. COS'deduction, the Witent. .assessmentfor the'subjectof $1.,091,062 or $2.17.SF is well below the value estimate of:$1:;861,53:6: The'PA provided. the:property` record cards. for the subject and the comparable sales along with the location map'showing that three: of the:sales were loedted along. US Hwy 1: and I :of.the sales;was located just west of -US Highway 1: off of 41st: Street., Summary of evidence presented by:the petitioner:::: The::petitioner requested a. Just:Value of $736,3°12 or.$l,A6 SF.($63,7.50.per acre).: at the beginning of the testimony. The petitioner presented 5. comparable° sales.from CoStar: The.cornparable sales.:: sold between $45;208 per acre to $157,368 per: acre or between:$1.04:SF to $3'.6:1 SF. The sales ranged in :size from'9.91 acres to 37 acres: The comparable sales were zoned a variety of different zonings. The. different zonings: included IG- Industrial:General; RS -3 a:residential'zoning a combination of both Commercial: and Multifamily; zonings;: CG General Commercial and a:combihatiion of :CH - Commercial Heavy- Arid CL- Commercial Light. (Ii is noted that::Sale- 5 -at $3.61- SF was: the PA's Sale =2. It is also noted that Sale: A, at $1.97 SF, was an auction sale:: and resold just over one. year later_ for $3:65 SF; the PA's: Sale 1.) There was rib discussion of the sales iii the. evidence: submitted.-- he petitioner: estifiedahat the:subject property was botli:irregular in shape and was transacted by US .Hwy 1. As a result, it is not two contiguous parcels..: In addition, there is a.. - parcel cut: out of the back.of the west side property., This resulted in physical and :functional issues: for the developriient of the subject property, including issues with . the setbacks :(legal issues). (The petitioner did riot provide a tax inap or. survey. demonstrating the shapes ,of the subject parcels. The petitioner did not value the :property as two -separate parcels:) :..:. Re uttal Testimony: ThePA testified that -the parcel may have some setback'issues. However; the west side parcel is approximately five acres and.is a substantial piece (of adequate.,size) .Z. 2024-107::.: ..... ... ... .... ' Page 3 -of 4 ..39-