Okaloosa County BOCC — November 5, 2013 — Presley-McKenney & Assoc. Appraisal of Portion of Parcel 12 at Bob Sikes Industrial Airpark — reading text

MEMBER—PROFESSIONAL ORGANIZATIONS Appraisal Institute, MAI #6453 obtained May 1982 Florida Gulf Coast Chapter, Appraisal Institute (Merged: Northwest Florida Chapter Appraisal Institute, President for 2007) (Merged: Gulf Coast Chapter Appraisal Institute, President for 1986) Realtor—Pensacola Association of Realtors. Director 1980-1985, past Chairman of Ethics Committee, 1983 President, and 1984 State District Vice-President Gulf Breeze Rotary Club—1973 Charter Member +/-6.9 Acres Vacant Land, Bob Sikes Industrial Park, Crestview, Florida Stephen E. McKenney Born in Columbia, South Carolina — March 2, 1967 Education Bachelor of Science, Secondary Education, University of South Florida, Tampa, Florida, 1995. Bachelor of Arts, English Literature, University of South Florida, Tampa, Florida, 1995. Honors: University of South Florida College of Arts & Sciences Honor Society, 1994-1995. Florida Real Estate Appraisal Board, Registered Assistant Appraisal—AB1, Pensacola, Florida, February 2002. Appraisal Institute Course 110: Appraisal Principles, Pensacola, Florida, July 2002 [Challenged]. Appraisal Institute Course 120: Appraisal Procedures, Austin, Texas, February 2003. Appraisal Institute Course 310: Basic Income Capitalization, Atlanta, Georgia, March 2004. New Technologies for Real Estate Appraisers, August 2005. Appraisal Institute Course 320: General Applications, Baltimore, Maryland, September 2005. Uniform Standards of Professional Appraisal Practice, Pensacola, Florida, April 2006. Florida State Law Update, Destin, Florida, April 2006. Residential Appraiser Site Valuation & Cost Approach, McKissock, Jacksonville, Florida, November 2006. Residential Report Writing, McKissock, Jacksonville, Florida, November 2006. Residential Sales Comparison & Income Approaches, Appraisal Institute, Tampa, Florida, November 2007. General Appraiser Sales Comparison Approach, Appraisal Institute, Maitland, Florida, March 2009. General Appraiser Site Valuation & Cost Approach, Appraisal Institute, Orlando, Florida, June 2009. General Appraiser Market Analysis & Highest and Best Use, Appraisal Institute, Orlando, Florida, August 2009. General Appraiser Income Approach, Part I, Appraisal Institute, Tampa, Florida, December 2009. General Appraiser Report Writing & Case Study, Appraisal Institute, Fort Lauderdale, Florida, March 2010. General Appraiser Income Approach, Part I, Appraisal Institute, Maitland, Florida, June 2010. Professional License Florida State-Registered Trainee Real Estate Appraiser, #RI8246 +/-6.9 Acres Vacant Land, Bob Sikes Industrial Park, Crestview, Florida Appraisal Experience Staff Appraiser, February 2002 — Present. M. Eugene Presley & Associates/Consultant & Real Estate Valuations, Inc./Presley-McKenney & Associates, Inc., Pensacola/Gulf Breeze, Florida. Types of Property Appraised Land Individual Parcels: Residential, Commercial, and _ Industrial; Agricultural Acreage; Multi-family Acreage; Industrial Acreage; Wetlands Acreage; Waterfront Lots & Acreage. Commercial Professional Offices (Single-tenant); Professional Offices (Multi- tenant); Office Parks; Mid-Rise Office Buildings; Medical Offices; Dental Offices; Veterinary Offices; Banks/Financial Branches; Barber Shop/Beauty Salon; Retail Stores; Restaurants; Bar/Tavern/Lounge; Shopping Centers; Hotels/Motels; Storage Warehouses; Distribution Warehouses; Light Industrial Warehouses; Mini-Storage Warehouses; Cold-Storage Warehouses; Recycling Center; Automobile Dealerships; Convenience Stores; Gasoline Stations; Automotive Service Garages; Marinas; Lumber Yards; Day Care Centers; Special Purpose Real Estate (Churches, Schools, Fire Stations, Fairgrounds, Zoo, Flea Market). Residential Single-Family Detached Residences; Single-family Attached Residences; Single-family Condominium Residences; Multi-Family Duplexes & Quadruplexes; Apartment Complexes; Mid-rise Apartment Buildings; Subdivisions; Mobile Home Parks; Boarding House. Other Eminent Domain Valuations; Partial Interests in Land and Developed Properties; Rent Analyses; Insurable Values, Condominium-ownership; Insurable Values, Single-ownership; Riparian Valuations. Principle Clients Synovus Bank (Coastal Bank & Trust/Bank of Pensacola), Hancock Bank/Whitney National Bank, Gulf Coast Community Bank, Escambia County School Board, City of Fort Walton Beach, City of Pensacola, Counties of Escambia, Santa Rosa, and Okaloosa, Condemnation Attorneys, Other miscellaneous lenders, attorneys, and property owners. Member—Professional Organizations Member—Gulf Breeze Rotary Club +/-6.9 Acres Vacant Land, Bob Sikes Industrial Park, Crestview, Florida ADDENDUM MARKET DATA +/-6.9 Acres Vacant Land, Bob Sikes Industrial Park, Crestview, Florida VACANT LAND SALE #1 LOCATION: Bob Sikes Industrial Park, Parcel 14, Adora Teal Way, Crestview, FL PARCEL #/ LEGAL: 03-3N-23-0000-0001-0170 GRANTOR: Aviation Industrial Group, Inc. GRANTEE: Confidential SALE DATE: TBD NEGOTIATED SALE PRICE: $310,000 DEED BOOK/PAGE: TBD LAND SIZE: 12.245 Acres ROAD FRONTAGE: Adora Teal Way ZONING: [-2, Airport Industrial Park District, per Okaloosa County INDICATORS: PRICE/ACRE — $25,316 +/-6.9 Acres Vacant Land, Bob Sikes Industrial Park, Crestview, Florida VACANT LAND SALE #2 Commercial Sales - Land Click photo to enlarge or view multi-photos. MLS @: 330854md OfficeFile#: <>< ListPrice: $140,000 "4 Status: Sold Last Change: 9/6/2013 Property Type: Commercial PropName: COMMERCIAL IN THE AIRPORT AREA Price/Sq Ft: Available SqFt: Location: 16 ACRES HWY 90 E Price/Unit: CRESTVIEW, FL Price/Acre: ZipCode; 32539 Building Sq Ft: County: OKALOOSA Frontage: 665 MainArea: 25 Crestview Area WF Feet: SubArea: 01 CRESTVIEW SOUTHEAST Yearbuilt: ParcelID: 14-3N-23-0000-0095-0000 Const Status: N/A Directions: Hwy 85N, Right on Hwy 90E, Property on the right just East of Emmanuel Baptist Church, south of Bob Sikes and L-3 Communications. Location Location Location | Commercial property zoned business general just east of Crestview and south of Bob Sikes Airport and L-3 Communications. This property has about 665 front feet on Hwy 90 and access from the back on Cavalier Dr. This parcel would make a great . place for office, retail, industrial, service, or an Airport related development. My vision is a industrial type subdivision of 1,2 and 5 acre tracts, Build on one develop and sell the others, This is an REO Bank owned property and the seller is Motivated! Bring your widgets,and your development dreams to see this Ideal Investment today! Seller may consider financing! 7 Information herein is approximate and not exact. Agent Notes: Vacant show at will. OR Active Development Order : N Development Order Details : Lot 665X1036 Vacant? Y = dUnits/Pads: # of Rooms: Dimensions: Acreage: 16.71Lot SqFt: —727887ImmediateOcc? Y Vacancy Rate: Avg % Occupancy: Lot Depth: 1036 Office Sq Ft: # of Floors: Zoning: GulfFrntDesc: FutLandUse: Sprinklers? Rail? WF WaterFront: Doors-GrndLvi: DockHigh Description: LoopNet: 402-Industrial Industrial-Business Park 11009-Shopping Center Theme/Festival Center4 15-Industrial Warehouse 11005-Shopping Center Outlet Center —405-Industrial Manufacturing 11002-Shopping Center Convenience/Strip Center Site Information: Lease Information: Tenant Information: Scheduled Income: CAP Rate: Gross income: GRM: Expenses: CAM: per Net Op Income: Exp/Unit: Exp/SqFt: Cash Flow: Expense Types: Sellers: CORPORATE Contact Order Phone ber LstOff: EGFH RE/MAX Agency One Inc SaleType: REO Agent Cell Ph 850-305-0556 LstAgt: TEGFH1 Your House Team Listing Type: Exclusive Right of Sale Co-Agent Call Ph 850-305-0556 Co-Off: EGFH RE/MAX Agency One inc Named Exceptions? N Office Ph 850-682-8309 Co-Agt: £4340 P Brett House Dual/Var Rate? N Office Fax (850) 682-8279 Coop Compensation: 3.2% Limited Service? No Exp Date: N/A Showtng: Vacant show at will Docs: Qther SoldPrice: $125,000. DOM: 1297 BuyerName: RICHARD MOULTON GloseDate: 09/03/2013. DUC: 1 NewMortType: NONE ContractDate: 08/23/2013 PriCisDate: 08/31/2013 SateNotes: Cash:Sale : SeilingOft: EP12-Pelican RealEstate SellAgt: E6669. Tommy Carmical CoSellOff: CoSaltAgt: All information in this listing, including but not limited to square footage, room dimensions and lot size is approximate and not exact. Buyers are expected to verify any specific information prior to signing any contract. Neither the Emerald Coast Association of Realtors nor any Realtor is liable for any inaccuracies herein.Copyright: 2013 by the Emerald Coast Association of Realtors® Prepared by PCOLA OUTSIDE of Reolprooal Office on 12/9/2013 10:05:11 PM +/-6.9 Acres Vacant Land, Bob Sikes Industrial Park, Crestview, Florida COMPARABLE SALE #3 Commercial Sales - Industrial Click photo to enlarge or view multi- MLS #: 581729m OfficeFile#: ListPrice: $795,000 photos. Status: Sold Last Change: 1/11/2013 Property Type: PropName: BUILDING IN BOB SIKES Price/Sq Ft: AIRPORT AND INDUSTRIAL PARK, Available SqFt: Location: 5692 JOHN GIVENS RD Price/Unit: CRESTVIEW, FL Price/Acre: ZipCode: 32536 Building Sq Ft: County: OKALOOSA Frontage: ‘MainArea: 25 Crestview Area WF Feet: SubArea: 04 CRESTVIEW NORTHEAST YearBuilt: 1998 ParcellD: 03-3N-23-0000-0001-0054 Const Status: Existing Directions: From Hwy, 85, take Airport Rd, head east, gO approx. 1 to 2 miles, make right on John Givens Rd, Large 11,200 sqft metal warehouse building on approx, 11.4 acres in the Bob Sikes Airport and Industrial Park. Could be used by one owner user or presently divided into 6,000 sqft and 5,200 soft units with some office areas, 2 restrooms, and 3 phase power. Gravel and sand parking lot, small fenced in area, PROPERTY TO BE SOLD "AS 1S", Information herein is approximate and not exact. Agent Notes: OR -----> Click here lo report_an esror in this listing to the Listing A ent < Active Development Order : Y Development Order Detalls : Lot Vacant? Y #Units/Pads: # of Rooms: Dimensions: Acreage: 11.40 Lot Sq Ft: ImmediateOcc? Y Vacancy Rate; Avg % Occupancy: Lot Depth: Office Sq Fe: # of Floors: Zoning: GulfFrntDesc: FutLandUse: Sprinklers? Rail? WF WaterFront: Doors-Grndivi; DockHigh Description: LoopNet: Site Information: Lease Information: Tenant Information: Scheduled Income: CAP Rate: Gross Income: GRM: Expenses: CAM: per Net Op Income: Exp/Unit: Exp/SqFt: Cash Flow: Expense Types: Selters: LOONEY, LLC. Contact Order Phone Number LstOff: ERHS Realty House Commercial Properties SaleType: As Is Office Ph 850-244-9417 Inc , LetAgt: £6387 M Kevin Bethea Listing Type: Exclusive Right of Office Fax (850) 664-6622 Sale Co.Off: Named Exceptions? N Co-Agt: Dual/Var Rate? N Coop Compensation: 2% Limited Service? No Exp Date: N/A Showing: Call Broker Docs; SoldPrice: $600,000 DOM: 172 BuyerName: MUNITIONS TECH CloseDate: 12/31/2042 DUC:. 4 NewMortType: OTHER ContractOate: 12/27/2012 PrjCtsDate: 12/31/2012 SaleNotes:. Broker'from:S. Florida represented the buyer. : SellingOn: ERHS Realty House Commercial Properties inc SellAgt: E6387 M Kevin Bethea CoSeliOft: CoSellAgt: All information in this listing, including but not limited to square footage, room dimensions and lot size is approximate and not exact. Buyers are expected to verify any specific information ptior to signing any contract. Neither the Emerald Coast Association of Realtors nor any Realtor is liable for any inaccuracies herein.Copyright: 2013 by the Emerald Coast Association of Reallors® Prepared by PCOLA OUTSIDE of Reolprocal Office on 12/9/2013 10:07:56 PM +/-6.9 Acres Vacant Land, Bob Sikes Industrial Park, Crestview, Florida