03-28-13 Zoning Board of Adjustment Meeting

Browse Search

of La Porte- Page 2 The Intended User of this appraisal is the City of La Porte only. The intended use is to determine the estimated replacement cost of the main property improvements for internal use. Subject Data: The subject property is located at 500 West Main Street in the city limits of La Porte in SE Harris County, Texas. Based on our inspection only from the public street and from the Harris County Appraisal District data, the improvements consists of a one (x) story wood frame building with a partial brick exterior over a concrete slab foundation. The roof appear to be a built-up type. It is reported to have a central HVAC system and was reported to have been built in 1955 per Harris County Appraisal District. The building is reported to have 1,479 square feet of building area with ancillary utility building located at the rear of the site having a reported 288 square feet of area. Per our instructions from the client, we have not inspected the interior of the facility and our analysis is based on an exterior inspection of the property and from data obtained from the Harris County Appraisal District. Per our instructions from the client, this analysis is to estimate the replacement cost value of only the main property improvements (main building and storage building) and not value the parking area and ancillary improvements such as signage, etc, The subject improvements appear unoccupied. Effective Date of Report: January 17, 2012 Effective Date of Appraisal: January ro, 2012 Per our discussion, a range of replacement cost values were used due to the subjectivity in estimating accrued deprecation. Before depreciation an replacement cost estimate of the main building and storage building was indicated at $143,870. An overall effective life of 50 years was used in this analysis and a range of between 30 years to 35 years was estimated for the effective age resulting in a range of between 6o% to 70% in terms of actual deprecation. As a result the range in Replacement Cost** based on its current condition was estimated at between $43,000 to $58,000. ** Main building improvements only. In conclusion, the estimated Replacement Cost of the subject property improvements after deprecation estimates was between $43,000 to $58,000**. Respectfully Submitted, Chris Chuoke, President R.C. CHUOKE &ASSOCIATES, INC.