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Item 1. Local Board of Appeal and Equalization (continued)
2023 Otsego Local Board of Appeals and Equalization Reconvene Meeting: May 8th, 2023 5:30 PM Owner Parcel ID Property Address Notes Assessor Recommendation for 2023 Assessment 2023 Original Estimated Market Value Corey & Kristin Tanner 118-073-002090 7952 Palmgren Ave NE Property reviewed, revised value agreed to by property owner $411,900 $422,100 Todd & Linda Knudson 118-121-003080 10600 97th St NE Property reviewed, revised value agreed to by property owner $373,500 $437,900 Allen & Sherry Elleraas 118-121-007090 10084 Kahler Ave NE Property reviewed, revised value agreed to by property owner $426,500 $476,000 Charles & Rachel Landon 118-026-001040 14400 89th St NE Landon's refused entry, the assessor was unable to review the property.No Change $331,000 CRAG Enterprises LLC 118-096-001040 15901 85th St NE Property reviewed, income and expense data analyzed; Value adjustment has been communicated to the owner, as of 5/4/2023 no agreement has been reached. $4,192,100 2023 Assessment Appeal Report PID: 118-096-001040 Property Address: 15901 85th St NE Otsego Assessment Date: January 2nd, 2023 2023 Estimated Market Value: $4,192,100 Assessor Recommendation: Revise the 2023 Estimated Market Value to $4,155,000 ($12,400 per unit; $75.95 per square foot) Property Owner CRAG Enterprises LLC Purpose of the Appraisal To estimate the market value of the fee simple interest of the subject property as of January 2, 2023 Land Size 5.48 Acres GIS Zoning B-4 Office Park Property Use Mini/Self Storage Facility 16 Buildings constructed between 2004 and 2018 54,720 Total Square Feet 335 Storage Units Sale History of the Subject 8/15/2003 $350,000; Vacant Lot Sale Page 1© iLOOKABOUT (US) Inc. dba Apex Software SKETCH/AREA TABLE ADDENDUM SUBJECT INFO File No.: Parcel No.: Property Address: City: County: State: ZipCode: Owner: Client: Client Address: Appraiser Name: Inspection Date: SKETCH 110'24' 2640 sf 110'24' 2640 sf 130'24' 3120 sf 130'24' 3120 sf 120'30' 3600 sf 120'30' 3600 sf 120'30' 3600 sf 120'30' 3600 sf 120'30' 3600 sf 120'30' 3600 sf 120'30' 3600 sf120'30' 3600 sf 120'30' 386 - MINI-WAREHOUSE 3600 sf 12 units24 units 17 units28 units28 units28 units28 units 28 units28 units28 units 120'30' 3600 sf 120'30' 3600 sf 28 units 28 units 24 units 28 units16 units 14 units 120'3600 sf 30' 20182018200420042004200420042004 201720172004200420042004 20042004 Total GBA 54,720 SF Sketch by Apex Sketch AREA CALCULATIONS SUMMARY Code Description Factor Net Size Perimeter Net Totals 386 MINI-WAREHOUS 1.0 2640.0 268.0 MINI-WAREHOUS 1.0 2640.0 268.0 MINI-WAREHOUS 1.0 3120.0 308.0 MINI-WAREHOUS 1.0 3120.0 308.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 MINI-WAREHOUS 1.0 3600.0 300.0 54720.0 COMMENT TABLE 1 COMMENT TABLE 2 COMMENT TABLE 3 Page PID Address # Units Sale Date Sale Price Sale Price per Unit 2023 EMV 2 102-500-304127 Annandale 89 7/28/2022 $1,873,182 $21,047 $1,155,400 3 102-500-304127 217-000-153304 Annandale; South Haven 131 4/13/2020 $1,025,000 $7,824 $1,635,700 4 204-100-024102 Clearwater 192 7/28/2022 $4,228,080 $22,021 $2,607,300 5 204-100-024102 Clearwater 192 7/22/2022 $1,800,000 $9,375 $2,607,300 6 206-000-332201 206-000-332202 Annandale 150 7/28/2022 $2,594,558 $17,297 $1,870,500 7 208-226-001010 Delano 178 10/25/2021 $1,067,600 $5,998 $2,072,700 8 210-000-053209 Maple Lake 207 7/28/2022 $3,049,445 $14,732 $1,922,200 9 215-100-044404 Buffalo 230 7/28/2022 $3,839,968 $16,696 $2,442,200 10 215-100-044404 Buffalo 230 3/18/2021 $2,100,000 $9,130 $2,442,200 11 217-000-153304 South Haven 39 7/28/2022 $600,444 $15,396 $480,300 12 109-053-001070 Howard Lake 33 5/20/2022 $797,000 $24,152 $527,400 13 109-500-041210 Howard Lake 66 5/20/2022 $797,000 $12,076 $578,300 Wright County Mini-Storage Sales 2020 - 2023 2 13 12 11 109 8 7 6 54 3 3 6 PID Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height # Units # Bldgs Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Extra Features USEC Code ECRV Number SF 67,655 INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Mini Storage 1446651 21,800 SF SROA 247 Myrtle MN, LLC Annandale Storage, LLC 7/28/2022 $1,873,182 Terms of Sale 247 Myrtle Dr S Annandale 21,800 SALES DATA 102-500-304127 5 1983 Class D Low Net Sale Price BUILDING DESCRIPTION $86 $86 $21,047 NOTES 5,450 SF BT Sale AnalysisNA NA SP Per Unit SP Per Ground Floor SF SP Per GBA 89 NA 1 / 10' C-2 y TJA 090622 1930 - Mini Storage The data contained in this document is deemed accurate but not guaranteed. Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. Verified: Property Use Complex Name LWD $0 $1,873,182 Deed Type Less: Personal Property Plus: Special Assessments Allocated Sale Price -Portfolio of 26 properties across 5 different counties in Minnesota sold to an investment group. Includes 4,800 SF Warehouse 2 PID Address Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # Units # of Stories / Wall Height Mezzanine Area / Use Basement Area / % Finished Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Land Building Ratio Extra Features USEC Code The data contained in this document is deemed accurate but not guaranteed. #REF! Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. Verified: Property Use Complex Name 102-500-304127 = 92 units 217-000-153304 = 39 units 131 total units 7 Buildings Total 24 - Multi District Sale Warranty Deed $0 $0 $1,025,000 Deed Type Less: Personal Property Plus: Special Assessments C-2 & CO y LAT737110032020 1930 Mini Storage Average Net Sale Price BUILDING DESCRIPTION $35 $35 $7,824 NOTES NA Sale Analysis SP Per Unit SP Per Ground Floor SF SP Per GBA 131 1 / 10' Public / None 102-500-304127; 217-000-153304 247 Myrtle Dr S Annandale 14998 State Hwy 55 South Haven SF 2.47 Acres INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Mini Storage 29,676 SF Annandale Storage LLC Annandale Mini Storage/South Haven Mini Storage 4/13/2020 $1,025,000 Terms of Sale 29,676 SALES DATA 1983; 1996 Class D Pole 3 PID Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height # Units # Bldgs Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Extra Features USEC Code Verified: Property Use Complex Name LWD $0 $4,228,080 Deed Type Less: Personal Property Plus: Special Assessments B-2 General Business y TJA 090622 1930 - Mini Storage The data contained in this document is deemed accurate but not guaranteed. Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. Class DP Low Cost Net Sale Price BUILDING DESCRIPTION $90 $90 $22,021 NOTES 57,000 Sale AnalysisNA NA SP Per Unit SP Per Ground Floor SF SP Per GBA 192 NA 1 ECRV Number SF 4.61 Acres INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Mini Storage 1446659 46,864 SF SROA 17425 County MN, LLC Clearwater Storage, LLC 7/28/2022 $4,228,080 Terms of Sale 17425 County Road 75 NW Clearwater 46,864 SALES DATA 204-100-024102 4 1999, 2003, 2019 Allocated Sale Price -Portfolio of 26 properties across 5 different counties in Minnesota sold to an investment group. 4 PID Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height Mezzanine Area / Use Basement Area / % Finished Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Land Building Ratio Extra Features USEC Code MISC. The data contained in this document is deemed accurate but not guaranteed. #REF! Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. 204-100-024102 1999-2003 Class DP Average SF BUILDING DESCRIPTION 1 / 10' 200854 57000 Sale Analysis TA Transition Area SP Per Unit SP Per Ground Floor SF SP Per GBA $0.00 $0.00 $1,800,000 Terms Less: Personal Property Plus: Special Assessments Net Sale Price Complex Name INDUSTRIAL SALE SUMMARY PROPERTY DESCRIPTION Date Of Sale Sale Price Mini Storage 46,864 SF Clearwater Storage LLC I-94 Stor-Mor, LLC 7/22/2020 Property Use $1,800,000 Terms of Sale 17425 County Road 75 NW Clearwater, 55320 46,864 SALES DATA Warranty Deed LAT737111062020 $38.41 $38.41 $0.00 1930 Mini Storage y NOTES Verified: multi county sale 5 PID Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height # Units # Bldgs Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Extra Features USEC Code Verified: Property Use Complex Name LWD $0 $2,594,558 Deed Type Less: Personal Property Plus: Special Assessments B-2 General Business y TJA090622 1930 - Mini Storage The data contained in this document is deemed accurate but not guaranteed. Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. Class DP Average Net Sale Price BUILDING DESCRIPTION $80 $80 $17,297 NOTES NA Sale AnalysisNA NA SP Per Unit SP Per Ground Floor SF SP Per GBA 150 NA 1 ECRV Number SF 95,346 INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Mini Storage 1446671 32,594 SF SROA 9754 Hwy 55 MN, LLC Annandale Storage, LLC 7/28/2022 $2,594,558 Terms of Sale 9754 State Hwy 55 NW Annandale 32,594 SALES DATA 206-000-332201, 332202 3 1978, 1994, 2019 Allocated Sale Price -Portfolio of 26 properties across 5 different counties in Minnesota sold to an investment group. 6 PID Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height Mezzanine Area / Use Basement Area / % Finished Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Extra Features USEC Code Units The data contained in this document is deemed accurate but not guaranteed. #REF! Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. Verified: Property Use Complex Name WD $52,400 $0 $1,067,600 Deed Type Less: Personal Property Plus: Special Assessments Private Utilities B-3 Hwy Business y LAT7371110421 1930 Mini Storage 178 Class DP Average Net Sale Price BUILDING DESCRIPTION $27 $27 $5,998 NOTES NA Sale Analysis NA SP Per Unit SP Per Ground Floor SF SP Per GBA NA NA Cell Tower 1 ECRV Number SF 139,834 INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Retail / Mini Storage / Cell Tower 1337275 40,092 SF Ryan Holker Meri L. Ault 10/25/2021 $1,120,000 Terms of Sale 4306 US Highway 12 SE Delano, 55328 40,092 SALES DATA 208-226-001010 NA 1990 7 PID Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height # Units # Buildings Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Extra Features USEC Code ECRV Number SF 164,816 INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Mini Storage 1446655 37,512 SF SROA 4824 Hwy 55 MN, LLC Annandale Storage, LLC 7/28/2022 $3,049,445 Terms of Sale 4824 State HWY 55 NW Maple Lake 37,512 SALES DATA 210-000-053209 6 1996, 1998, 2001, 2014, 2017, 2018 Class DP Average Net Sale Price BUILDING DESCRIPTION $81 $81 $14,732 NOTES 27,100 Sale AnalysisNA NA SP Per Unit SP Per Ground Floor SF SP Per GBA 207 NA 1 TA Transition Area y TJA 090622 1930 - Mini Storage The data contained in this document is deemed accurate but not guaranteed. Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. Verified: Property Use Complex Name WD $0 $3,049,445 Deed Type Less: Personal Property Plus: Special Assessments Allocated Sale Price -Portfolio of 26 properties across 5 different counties in Minnesota sold to an investment group. 8 PID Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height # Units # Bldgs Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Extra Features USEC Code Verified: Property Use Complex Name WD $0 $3,839,968 Deed Type Less: Personal Property Plus: Special Assessments NA B-2 General Business y TJA090622 1930 Mini Storage The data contained in this document is deemed accurate but not guaranteed. Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. Class DP Average Net Sale Price BUILDING DESCRIPTION $91 $91 $16,696 NOTES 53,500 SF BT Sale Analysis NA SP Per Unit SP Per Ground Floor SF SP Per GBA 230 NA 1 ECRV Number SF 211,967 INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Mini Storage 1446642 42,240 SF SROA 799 Chamberlain MN, LLC KO Storage of Buffalo, LLC 7/28/2022 $3,839,968 Terms of Sale 799 Chamberlain Ave SE Buffalo 42,240 SALES DATA 215-100-044404 4 2002 Allocated Sale Price -Portfolio of 26 properties across 5 different counties in Minnesota sold to an investment group. This parcel sold 3/18/2021 for $2,100,000 -$9100 per unit 9 PID Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height Mezzanine Area / Use Basement Area / % Finished Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Extra Features USEC Code Number of Units The data contained in this document is deemed accurate but not guaranteed. Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. ECRV Number SF 211,967 INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Mini Storage CJ's Mini Storage 1227210 40,770 SF KO Storage of Buffalo LLC CJ's Mini Storage, LLC 3/18/2021 $2,100,000 Terms of Sale 799 Chamberlain Avenue SE Buffalo 40,770 SALES DATA 215-100-044404 NA 2002 2004 2005 Class D Average Net Sale Price BUILDING DESCRIPTION $52 $52 $9,459 NOTES 35,400 Sale AnalysisNA NA SP Per Unit SP Per Ground Floor SF SP Per GBA NA NA 1 None CO - Commercial y LAT7371100521 1930 Mini Storage 222 Verified: Property Use Complex Name WD $0 $2,100,000 Deed Type Less: Personal Property Plus: Special Assessments 10 PID Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height # Units # Buildings Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Extra Features USEC Code ECRV Number SF 40,213 INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Mini Storage 1446648 7,876 SF SROA 14998 Hwy 55 MN, LLC Annandale Storage, LLC 7/28/2022 $600,444 Terms of Sale 14998 State Hwy 55 NW South Haven 7,876 SALES DATA 217-000-153304 2 1996 Class DP Average Net Sale Price BUILDING DESCRIPTION $76 $76 $15,396 NOTES NA Sale AnalysisNA NA SP Per Unit SP Per Ground Floor SF SP Per GBA 39 NA 1 B-1 Highway Business y TJA090622 The data contained in this document is deemed accurate but not guaranteed. Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. Verified: Property Use Complex Name WD $0 $600,444 Deed Type Less: Personal Property Plus: Special Assessments Allocated Sale Price -Portfolio of 26 properties across 5 different counties in Minnesota sold to an investment group. 11 PID Replatted:109-053-001090 Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height # Buildings # Units Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Extra Features USEC Code Verified: Property Use Complex Name WD $2,000 $0 $797,000 Deed Type Less: Personal Property Plus: Special Assessments Public Utilities I-2, General Industrial y AP / LAT 081822 MINI STORAGE The data contained in this document is deemed accurate but not guaranteed. Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. Class D Average Net Sale Price BUILDING DESCRIPTION $74 $74 $24,152 NOTES 13,976 SF BT & CC Sale Analysis SP Per Unit SP Per Ground Floor SF SP Per GBA 1 1 / ECRV Number SF 43,568 SF / 1 Acre INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Commercial Storage TSN Storage 1416706 10,736 SF TSN Storage, LLC Wright Storage Units, LLC 5/20/2022 $799,000 Terms of Sale 1020 Commerce Blvd Howard Lake 10,736 SALES DATA 109-053-001070 33 2017 Assessor Restricted Value -replatted to 109-053-001090 Avg Unit Size: 325 SF 28 Units -264 SF 3 Units -528 SF 2 Units -880 SF -electricity and stubbed to City Utilities 12 PID Address City Year Built Buyer Type of Construction Seller Condition Ground Floor Area Gross Floor Area # of Stories / Wall Height # Buildings # Units Basement Use Heating / Air Conditioning Sprinklers / Elevators Site Utilities Zoning Land Area Parking Surface / Area Extra Features USEC Code ECRV Number SF 264,333 SF / 6.07 Acres INDUSTRIAL SALE SUMMARY Date Of Sale Sale Price Mini Storage TSN Storage 1416682 13,200 SF TSN Storage, LLC Howard Lake Mini Storage, LLC 5/20/2022 $799,000 Terms of Sale 1302 6th St Howard Lake 13,200 SALES DATA 109-500-041210 66 1986, 1988, 1992 Class D Average Net Sale Price BUILDING DESCRIPTION $60 $60 $12,076 NOTES Sale Analysis SP Per Unit SP Per Ground Floor SF SP Per GBA 3 1 / 10' Public Utilities I-2, General Industrial y AP / LAT 081222 1930 Mini Storage The data contained in this document is deemed accurate but not guaranteed. Wright County assumes no responsibility or liability for actual or consequential damage incurred as a result of using data contained in ths document. Verified: Property Use Complex Name WD $2,000 $0 $797,000 Deed Type Less: Personal Property Plus: Special Assessments Avg Unit Size: 200 SF 7 Units -50 SF 9 Units -100 SF 49 Units -220 SF 1 Unit -660 SF 13