HomeMy WebLinkAbout0550 f
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PURPOSE OF APPRAISAL `
The purpose ot the appraisal is to esti~nate the fair market
yallie as of July 9, 1974.
NEIGHBORHOOD DATA ~
The property under appraiseinent is situated on what is
known as Ft. Pierce's South Beach area lying between the
~ Atlanti~ 4cean and the Indian River south of the city limits
o,f Ft. Pierce. - '
DESCRIPTION OF PROPERTY .
- The property under appraisement consists of an en~ire block
~ of lots in Block 12 which would be situated between Third
Street and Fourth Street west of Traub Street. The lots
are 60 feet wide and 127 feet deep; however, they are pri-
marily under water. The atreets are not in and in the opinion
of the appraiser, it will be auar?y years, if ever, before this
property can be developed. Lots S and 6, Block 4 are situated
on the west side of Traub Street between First Street and
Second Street, and these lots are in the same category as
~ ~ the others . _ ~ ~ -
In the opinion of the appraiser, this is what is known as a
paper subdivision. That is, the proper~ies are laid out but
have never.been developed due to the fact that they are pri-
marily under water, and the cost of fill would be tremendous.
In order for these lots to be filled, the lots from AlA to tlie
subject property would have to be filled which would be three
blocks. These lots have been sold off to various people, and
it would be most difficult for them to get them all to have ~
; ~hem filled. In the opinion of the appraiser there is only
' a speculative value~as lots have been sold there, but it would
; hardl make the fair market value conce t as it is i
Y p mpossible
at this point to tak$ anyone to~the property and :show them
~ where it is ~ocated. This means that the property would be
bought on a sight unseen baeis as the lots are not surveyed
of f on the ground . .
ST'A'IH OF FiARWA
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~ ! BOOK 242 PACE ~ 549 ~
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