Mid-block property, currently improved with two small structures.  One of the buildings, as well as the vacant parcel of land, is currently leased.  Due to the short term nature of the lease agreement, redevelopment of the subject is not restricted. Therefore, the value of the property is in the redevelopment potential of the land. Report addresses Market Value of the Fee Simple Interest in the subject property.

Land is currently leased to the McDonald’s Corporation, with an upcoming option to renew. At the instruction of our client, we have appraised the subject property under the hypothetical condition that the property is vacant and unimproved (without consideration of the lease or existing improvements).    This assumption results in an appraisal of the Fee Simple Interest in the subject land only.

Two waterfront parcels located adjacent to the new Bremerton Marina, and within walking distance of the Ferry Terminal. Value indications analyzed in the course of the Sale Comparison Approach included local and regional transactions.