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Group Title: Historic St. Augustine: Block 7 Lot 20
Title: Appraisal report
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Permanent Link: http://ufdc.ufl.edu/UF00091354/00007
 Material Information
Title: Appraisal report
Series Title: Historic St. Augustine: Block 7 Lot 20
Physical Description: Report
Language: English
Creator: Helms, Mercer D.
Publication Date: 1975
 Subjects
Subject: Saint Augustine (Fla.)
12 Castillo Drive (Saint Augustine, Fla.)
Rahner Property (Saint Augustine, Fla.)
Spatial Coverage: North America -- United States of America -- Florida -- Saint Johns -- Saint Augustine -- 12 Castillo Drive
Coordinates: 29.897031 x -81.312869
 Record Information
Bibliographic ID: UF00091354
Volume ID: VID00007
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution.
Resource Identifier: B7-L20
B7-L21

Table of Contents
    Title Page
        Page 1
    Main
        Page 2
        Page 3
        Page 4
        Page 5
        Page 6
        Page 7
        Page 8
        Page 9
        Page 10
        Page 11
        Page 12
        Page 13
        Page 14
        Page 15
        Page 16
        Page 17
        Page 18
        Page 19
        Page 20
        Page 21
        Page 22
        Page 23
        Page 24
        Page 25
        Page 26
        Page 27
        Page 28
        Page 29
        Page 30
        Page 31
        Page 32
        Page 33
        Page 34
        Page 35
        Page 36
        Page 37
Full Text

PAGE I


APPRAISAL REPORT

F. Victor Rahner Real Estate
#12 Castillo Drive
St. Augustine, Florida







PREPARED >FOR

Mr. John W. Griffin, Director
Historic St. Augustine Preservation Board
Post Office Box #1987
St. Augustine, Florida 32084




APPRAISAL DATE

15 April 1975




BY

Mercer D. Helms, M.A.I.
Post Office Box 1001
St. Augustine, Florida 32084


__ MERCER D. HELMS
APPRAISER




Page 2


MM BORl m D. HixLMS. M. A. I.
REAL ESTATE APPRAISER
P. 0. BOx 1001
SST. AUGUSTINE, FLORIDA 32DB4
TELEPHONE
29 April 1975 904-824-4937
OLD CITY UATE


Mr. John W. Griffin, Director
Historic St. Augustine Preservation Board
Post Office Box 1987
St, Augustine, Florida 32084

RE: Appraisal Report
Rahner Property
12 Castillo Drive
St. Augustine, Florida

Dear Mr. Griffin:

We undertook and have completed herewith a documented narrative appraisal
of the referenced real estate requested by you on 17 March 1975.

The subject property, in my opinion, is one of the finest ownerships in
the Restoration District. The location across Castillo Drive from the
famous Castillo de San Marcos is without equal. Also, there is a definite
scarcity of available properties within the heart of the subject area, and
this economic factor has a positive influence on value.

It is my professional opinion that the Market Value of the subject property
described in this report, based upon a thorough personal analysis of all
factual data developed during my market investigations, as well as informa-
tion furnished by outside sources considered reliable but for which this
Appraiser assumes no responsibility, subject to conditions revealed by
the Registered Land Survey filed in the Addenda here-in, and subject to
"Limiting Conditions" made a part of this report containing 34 pages, as
of 15 April 1975, was:

ONE HUNDRED FIFTY-TWO THOUSAND DOLLARS ($152,000.00)

It is regretted that unforeseen circumstances beyond my control caused a
delay in the completion of this report.

In the event you have questions concerning any phase of this appraisal,
please advise me promptly. We appreciate being called upon for professional
service.
Respectfully submitted,




Mercer D. Helms
MDHIdm

I





PAGE 3


TABLE OF CONTENTS


PREFACE


Title Page . . .. .
Letter of Transmittal. . .
Table of Contents. . . .
Salient Facts and Conclusions.
Photographs. . . . .


ANALYSIS AND CONCLUSIONS


Purpose of Appraisal . .
Property Location. . .
Legal Description. . . .
General Economic Data
County. . . . .
City. .. .
Neighborhood Data . . .
Site Data
Physical Description..
Zoning. .* *
Ad Valorem. . . .
HIGHEST AND BEST USE . .

Traffic Statistics . .
Improvement Data
Description ...
Mensuration Data, .
Market Approach Bare Land
Discussion. . . .
Comparative Land Value
Land Value Conclusion .
Cost Approach. . . .
Value Conclusion . . .
Value Certificate. . ..
Certification. . .
Limiting Conditions.. . .


Summary,

. 0 .

* . .
* . .
. .


Qualifications Of The Appraiser.


. a 0 . w a .a


ADDENDA


Index Sales. . . ., . . . . .
Registered Land Survey . ..... . . . . .








MERCER D. HELMS 1
APRAISER




~
.





PAGE 4


SALIENT FACTS AND CONCLUSIONS
ni i i i J -, '


PROPERTY LOCATION


OWNER


#12 Castillo Drive
St. Augustine, Florida


S F. Victor Rahner, et ux
#12 Castillo Drive
St. Augustine, Florida 32084


APPRAISAL DATE


S 15 April 1975


S 96.32' (Castillo Dr.) x 87.45' x 94.1'
x 64.3' (Fort Lane) / 7,112.0 Sq. Ft.


S H/P 3 Zone #1 -
Historic Restoration District


AD VALOREM (1974)


: $ 643.25

$1,081.73


TRAFFIC STATISTICS


ESTIMATED OPTIMUM USE


IMPROVEMENT


S Please See Page 14.


: Commercial. See Page 14 In This Report.


Detailed Description Will Be
Found On Page 15.


ESTIMATED MARKET VALUE


: $152,000.00


ALLOCATION-ESTIMATED MARKET VALUE


: $102,000.00

S $ 50,000.00


[ M ;CER D. HELMS 1
P PR A IS R


SITE SIZE


ZONING


City


County


Land

Building





PAGE 6


PURPOSE OF APPRAISAL


This appraisal is made for the purpose of estimating the Market Value
of the improved subject property which is considered a fee simple
ownership.

It is assumed that the subject real estate is under competent management,
that the vested title is merchantable, and that there are no liens or
encumbrances of any nature against the fee simple estate except those
imposed by Government.

Market Value is defined as the highest price, estimated in terms of
money, which a property will bring if exposed for sale in the open
market, allowing a reasonable time to find a purchaser who buys with
knowledge of all the uses to which it is adapted and for which it is
capable of being used. (Sacremento Southern Railroad Company v Heilbron -
156 Cal. 408)

Market Value is also defined as the highest price, estimated in terms
of money, which a buyer would be warranted in paying and a seller
justified in accepting, provided both parties were fully informed,
neither being under abnormal pressure, acted intelligently and
voluntarily, and further, that the rights and benefits inherent in
and attributable to the subject property were included in the transfer.
)t


DATE OF APPRAISAL


15 April 1975


PROPERTY LOCATION


The subject property in this assignment is situated on the west side
of Castillo Drive across from the world-famous Castillo de San Marcos
in the city of St. Augustine, Florida. This geographical location is
approximately 350.0' + southeast of the old "City Gates" which were
the original access to historic St. George Street and the restoration
district in the "Ancient City".







[ MERCER D. HELMS ]
S APPRAISER


-----





PAGE 7


LEGAL DESCRIPTION




The Appraiser was furnished a Registered Land Survey of the subject

property which is filed as Page 34 in the Addenda Section of this

report. Please refer to the referenced engineering for the lengthy

metes and bounds description that delineates the subject ownership

on the ground. It is assumed that the referenced Survey accurately

described the subject property.






























[ MERCER D. HEL MS 1
APPRAISER





PAGE 8


GENERAL ECONOMIC DATA


ST. JOHNS COUNTY

The oldest political subdivision in the state, dating back to 1821,
is situated geographically along the Atlantic Ocean in tte northeast
corner of Peninsular Florida. The overall 422,400 acres (660 square
miles), of which 35,392 acres are under water, is bordered on the
north by the City of Jacksonville (formerly Duval County, on the
west by Clay and Putnam Counties, and on the south by Flagler
County. The 43 + mile coast line along the Atlantic Ocean forms
the east perimeter, and the St. Johns River one of two rivers in
the world that flows north is a natural western boundary for
almost the entire length of St. Johns County.

St. Augustine, the acknowledged "Colonial Capital of Florida" is
the County Seat. The "Ancient City" will be discussed subsequently
in this Appraisal. The 1970 U.S. Census reported 30,727 permanent
county residents, of which 78.03% were Caucasians, as compared to
30,034 people domiciled here in 1960. The 46.56 population
density in 1970 reflected a very negligible increase over the
1960 census of 45.51 people per square mile within the overall
county area. It is the consensus in the Market that the permanent
St. Johns County population will ryach 60,300 people by 19832 due
to the impact of present and anticipated economic growth factors
in the Northeast Florida market area

The overall topography of St. Johns County, classified generally
as typical coastal terrain, varies from almost level to very
gently undulating land that averages approximately 27,0' above
mean sea level. The 387,008 acres considered productive land -
91.62% of the total county area have a wide variety of uses
that make valuable contributions to the overall local economy,

The tourist trade, commercial fishing, general agriculture includ-
ing beef cattle and forestry products are the principal sources
of county income. It was interesting to note that 19,000 acres +,
situated in the Hastings area, were utilized in 1974 for the
production of potatoes and cabbages, These row crops accounted
for approximately 77.3% of the $25,100,000 farm.income earned in
1974 from all agricultural commodities including substantial
economic benefits generated by important timber and livestock
operations.





(1) Florida Statistical Abstract 1972
(2) Kiplinger's Washington Service


[ MERCER D. HELMS
APPRAISER





PAGE 9


The four commercial banks and three savings and loan institutions
appear to adequately meet all of the required financial needs in
St. Johns County. Commercial bank deposits, including the Hastings
Atlantic Bank, increased from $65,291,581 in 1972 to $77,661,011 in
1974, which reflects an 18.9% growth over a two year period.

The reported assessed value of all real property for ad valorem
purposes increased from $231,378,390 in 1973 to $493,109,941 in
1974. The reflected 113.1% increase over one year was due to
a rigorous real estate revaluation for tax purposes and new
construction. This Market index, in our opinion, is a sound
indication of the substantial overall economic growth within
St. Johns County.

Effective buying income in 1970 totaled $81,121,000, or $2,535
per capital, and households reported at the end of the same year
exceeded 10,500 units, which is expected to increase substantially
by the end of the present decade. Interstate #95 and U.S. #1 are
the primary arterial highways serving St. Johns County, along with
State Highways #13, #16, #207, #206, and A1A. The Florida East
Coast Railway provides rail transportation for express freight
shipments, and Greyhound Bus Lines offers scheduled passenger
service at reasonable rates.

Economic growth trends in St. Johns County, including the increas-
ing numbers of tourists visiting the Ancient City, should continue
well into the foreseeable future unless halted by acts of God, an
energy crisis, devastation brought about through our Nation being
involved in a catastrophic global war, or other destructive
adversities not foreseen on appraisal date.



CITY OF ST. AUGUSTINE

The "Oldest City" in these United States of America has had a
quaint and enchanting history that actually began during 1513
when Ponce deLeon landed in the immediate vicinity of St. Augustine
in search of rumored wealth and youth-giving spring water. It was
not until 8 September 1565, over fifty-two years later, but before
the landing of the Pilgrims in New England, that the establishment
of St. Augustine by Pedro Menendez de Aviles became official.
Historical records that span a period of 410 years are filled
with romantic events of another era that are today accepted as
the foundation of the nation's colonial and religious life.

St. Augustine has not had the economic growth experienced by
other North Florida and Southeastern cities due to the intense
desire of its citizens to restore and preserve all ancient
monuments and historic buildings from destructive forces brought




[ MERCER D. HELMS 1
APPRAIS ER J




PAGE 10


about or generated by commercial encroachments. The Historic
St. Augustine Preservation Board, St. Augustine Restoration,
Incorporated, and members of the nationally recognized Saint
Augustine Historical Society are due special credit for the
protection and restoration of ancient structures that reflect
old world origin and character.

The historic city gate still stands on the northern entrance to
old St. Augustine, and the massive Coquina Fort Castillo de
San Marcos is one of the best preserved speciments of medieval
military architecture in the new world. The entire economy of
St. Augustine is predicated upon the unusual appeal of antiquity
and charm of the "Oldest City" to visitors in greater numbers
each year,

Official records show that people from every section of the United
States and abroad visit the "Ancient City" to enjoy the typical
Old World enchantment found along St. George Street and the Mission
of Nombre de Dios, where Father Francisco Grajales celebrated the
first mass following Pedro Menendez de Aviles' landing on the
mainland. Annual visitation to all points of national interest
and historic shrines increased from 446,300 people in 1968 to
809,173 individuals in 1974, or 81.3% over a six year period.
This increase, no doubt, was due in part to the Disney attraction
situated only one hundred thirty miles south of St. Augustine.

The Business Regulations Departmentrof the State of Florida reported
a total of 2,662 available hotel and motel units in and within the
immediate vicinity of St. Augustine at the end of 1974. Additional
units were required to meet the steadily increasing demand for
temporary or transient housing and services generated by a growing
tourist trade. There were one hundred fifty-one food establishments
with a seating capacity of 8,152 in the County at the end of the year.

The 1970 census gave St. Augustine a permanent population of 12,352
residents, of which 78% + were Caucasians. -Individuals who
specialize in economic trends predict a substantially larger local
population by 1980 due to the steady inmigration of new residents.
Also, it is the consensus that effective per capital purchasing
power will approach or exceed $3,200 during the present decade, as
compared to $2,535 reported in the 1970 census, Schools and medical
services are considered adequate, and churches of all denominations
meet the religious needs of people. Efficient police and fire depart-
ments provide 24-hour protection of lives and property.

There is every indication in the market place that St. Augustine
economy, dependent primarily upon tourist trade, will enjoy substantial
gains well into the foreseeable future unless curtailed or interrupted
by another nation-wide fuel shortage or other adversities not evident
on appraisal date. This community is destined to benefit economically
from overall growth factors in Florida without sacrificing its cultural
heritage and identification as the "Ancient City" of these United
States of America.


S[ MERCER D. HELMS
APPRAIS ER




PAGE 1


NEIGHBORHOOD DATA



It was concluded, after numerous inspections in the field, that the
"H/P-3" section of the St. Augustine Zoning Ordinance delineates the
neighborhood required in this assignment. Physical boundaries on the
ground follow Hypolita Street on the south, Cordova Street on the west,
Castillo Drive extended east to the Bay on the north, and Matanzas
Bay along the east perimeter.

The area described above, bisected by north/south St. George Street, is
generally accepted as the "heart" of the historical district in St.
Augustine, The subject neighborhood includes world-famous Castillo
de San Marcos and many old, as well as restored, structures on and
adjacent to St. George Street. The local historical societies and
Florida's Preservation Board have done outstanding work in the
preservation of the "Ancient City's" antique nature found within
the described neighborhood.

The area under consideration is approximately 80% built-up with variable
type structures of which a relatively small percentage are historically
oriented. Under the zoning law, all new buildings within the subject
neighborhood must conform to old foundation lines in order that the
original scale and pattern of development can be preserved,

Public thorofares in the neighborhood district described above are very
narrow, and this restricts automotive traffic. A large public parking
lot on Hypolita Street between St. George Street and Spanish Street
has helped relieve congestion. Only pedestrian travel is permitted
on St. George Street between Hypolita Street and the City Gates.

City police, experienced in handling vacation crowds, provide well
organized protection for local people and transient guests. The
St. Augustine Fire Department is on call 24 hours of the day. There
is no public transportation in the subject area other than travel
trains and horse carriages that cater to the tourist trade. City
water and sanitary sewers are in place for service, and both electrical
and telephone lines provide needed requirements.










[ MERCER D. HELMS
PPRAISER i




PAGE 12


SITE DATA



PHYSICAL DESCRIPTION

The subject site, containing 7,112.0 Square Feet + according to a
Registered Land Survey made a part of this appraisal, is situated
on the west side of Castillo Drive across from Castillo de San Marcos.
The geographical location, as stated earlier in this report, is
350.0' + southeast of the "Old City Gates" that have withstood the
ravages of time.

Irregular in geometric shape, the subject ownership has 96.32' along
Castillo Drive, 87.45' on the south boundary of the subject property,
94.1' on the back or west line, and 64.3' fronting Fort Alley which
is the north boundary that provides additional exterior circulation
of travel. As far as could be determined by inspection, the subject
land slopes very gently to Castillo Drive. The slight elevation
above street grade provides adequate surface drainage into city
maintained storm sewers.

The subject plumbing is connected to city water lines and the sanitary
sewer system. Other services include bi-weekly garbage collection,
a 220 amp electric service and telephones. Efficient city police and
the St. Augustine Fire Department are on 24-hour call seven days a week.

Engineering shows 7,118.0 Square Feet in the subject site of which
4,706.37 Square Feet + are paved with heavy duty brick set in concrete.
A plastered concrete block wall on the south and west ownership
boundaries assure privacy.

It is the consensus in the market that the subject site is perhaps
one of the finest locations in the restoration district. The ownership
has an unobstructed view of the old fort and is one of very few
remaining privately owed tracts that can be acquired for public use.


[MERCER D. HELMS 1
APPRAISER J





PAGE 13


ZONING

The zoning ordinance in effect on appraisal date, which was adopted

by the City of St. Augustine on 16 January 1965, restricts land use

to those commercial activities compatible with the Historic Restoration

Section classified as Zone #1 H/P 3 District. This classification

permits broad commercial uses that are related to the historic back-

ground of St. Augustine.

NOTE: A revised zoning ordinance pending before the City Commission

is expected to be adopted in the near future. The new ordinance, as

far as could be determined, makes relatively few changes in land use.






AD VALOREM


City


County


Code #196400.00

Assessed Value 1974

Land

Building

Total

Millage

Gross Tax Payable

1974


$39,590.00

47,280.00

$87,870.00

8.368



$ 643.25


$39,590.00

47,280.00

$87,870,00

13.985



$ 1,081.73


_ MERCER D. HELMS ]
APPRAISER





PAGE 14


HIGHEST AND BEST USE


Highest and best use is defined as that legal and continuous use which
will, over the remaining economic life of the improvements, preserve the
utility of the property and produce for the owner a net return which,
when capitalized at a proper market rate, produces the highest capital
value.

Another accepted definition is that use which at the time of appraisal
is most likely to produce the greatest net return to the land and/or
building over a given period of time.1

The Appraiser has made a comprehensive study of all uses considered
feasible for the subject property as of appraisal date. It is my
opinion that the optimum use of the subject land on 15 April 1975 was
an orientation center maintained to dispense public information on the
historical district. This use conforms with the city zoning ordinance
in effect on appraisal date.








TRAFFIC STATISTICS



The Florida Department of Transportation in DeLand, Florida furnished
the following data taken at the intersection of Orange Street and San
Marco Avenue. Official metered counts, based on a 24-hour tally,
indicated the north/south directional automotive units passing the
subject property.

Automotive
Period Units

2/1975 14,622

11/1973 13,800

Castillo Drive also S.R. #AlA is classified as an urban arterial
highway utilized by mixed interstate and local traffic.



1The Appraisal of Real Estate -
American Institute of Real Estate Appraisers


MERCER D. HELMS
APPR AISF R





PAGE 15


IMPROVEMENT DATA


DESCRIPTION

The subject structure is a conventional two-story, on-grade, masonry
building. It was designed to serve a special type commercial use on
the ground level with very comfortable living quarters on the second
floor. The owner stated that the facility was built during 1964 by
Mr. Boyd Parker, Contractor.

The bearing 8" x 8" x 16" concrete block exterior walls are supported
by code approved concrete footers and a monolithic concrete foundation,
Outside masonry surfaces are plaster on block painted white. All win-
dows are frame, double-hung, units with panel glass inserts, and fixed
wood shutters have a decorative effect. Windows on the west and north
elevations have anchored iron grills for protection.

The 9 12 pyramid or full hip roof (See Photograph #2) is covered with
California wood shingles over asbestos sheets on buttedge or plywood
sheathing tied to 2" x 6" 24" O.C. rafters. The attic is fully
insulated with 6" rock wool batts placed between 2" x 6" 24" O.C,
ceiling joists. Ventilation ducts are connected to the false chimney
on the south elevation of the house roof.

The first floor plan includes a 12.2' x 34.0' (414.8 S.F.) reception
room, a 8.2' x 10.7' (87.7 S.F.) framing room, a 8.2' x 8.9' (72.9 S.F.)
dressing room, an extra large camera room that is 16.4' x 28.6' (469.0 S.F.),
a 15.4' x 12.1' (186,3 S.F.) dark room, a small "loading" room, and two
sewer connected rest rooms. The one-car garage 12.8' x 23.4' (299.5 S.F.)
interior measurement is attached to and extends into the main structure
approximately 7,5' +.

The floors on the ground level are all dense chip terrazzo, excepting
smooth concrete in the attached garage and a plastic covering in the
rear bathroom. All interior walls are natural and painted concrete
block, except the reception room which is finished with an unfurred
white plaster. The north wall in the camera room is fully enclosed
with a floor to ceiling wood panel. The reception room and the camera
room have exposed wooden beams supporting 1" x 6" "V" edge sheathing.

Stairs leading from the ground floor on the south elevation provide the
only access to the upstairs living area. The risers are covered with
6" x 6" clay tile. The entrance to the stairs is protected with a heavy
iron gate on anchored hinges that is considered part of the real estate
by this Appraiser.


_ MERCER D. HELMS 1
APPR AISE R





PAGE 16


The second story floor plan provides a 16.3' x 20.8' (339.0 S.F,) living
room, two large bedrooms, three large clothes closets, an access or
connecting hall, a full ceramic tile bath with tub and shower, and a
11.7' x 10.7' (125.2 S,F.) kitchen. All finished floors, excepting the
bath and kitchen, are clear oak over a wood sub-floor that have been
carpeted from wall to wall. The kitchen floor is covered with a special
carpet that withstands hard usage.

Interior walls and ceilings on the second floor are furred and finished
with painted sheetrock. All windows upstairs have wooden stools, and
attached double louvered shutters provide privacy. The three fixed
stained glass windows in the living room are considered part of the
real estate in this appraisal. The service counter in the kitchen is
covered with formica and has a 6.0" backsplash. Plumbing includes a
double stainless steel sink. All plumbing fixtures are connected to
the city sanitary sewer. The electric stove and Whirlpool refrigerator
in the kitchen are included in this appraisal. The hooded vent fan
over the stove, connected by a duct pipe to the false chimney, takes
out cooking odors, The electrical system is in metal conduit and
outlets are super-adequate.

An open air sun deck on the east elevation was added shortly after the
main structure was built. This 40.3' x 12.5' (503.75 S.F.) addition
has a platform access with an all weather panel door opening into the
upstairs entrance hall. The sun deck is enclosed on three sides with
a 28" turned bannister rail, and the floor is a 1" x 6" painted deck.
This facility provides an unobstructed view of Castillo de San Marcos
and a partial view of Matanzas River.

The single car attached garage has a smooth concrete floor, and interior
walls are unpainted concrete block. The 2" x 8" 24" O.C. joists are
exposed in the ceiling. It should be noted that the garage extends
7.5' + into the main house.

Double french doors with attached protective iron grilles inside,
situated on the east side of the camera room, open directly into the
enclosed brick patio. A 5.9' heavy dut3 plastered, concrete block
wall assures privacy. The outside access to the patio is through a
7.4* heavy duty, decorative, iron gate on special iron hinges. This
entrance gate is considered part of the real estate. An old antique
street light, connected to the subject's electrical system, is attached
to the southeast corner of the garage. This unit illuminates the patio
and parking area.

A 50.0 gallon General Electric hot water heater serves both residential
and commercial requirements. The central heat and air condition facility
is connected to rooms on both floors. The climatizing equipment was
believed to be in good condition,


MERCER D. HELMS
APPRAISE R





PAGE 17


The subject improvement has an historical age of eleven years. However,
it is this Appraiser's opinion that the effective age, due to satisfactory
maintenance, was no more than five years on appraisal date, It is my
opinion that the subject structure could easily be converted to a civic
or public use that would represent the best utilization of the subject
land,











MENSURATION DATA


1st Floor Commercial Area


Overall Includes Entrance


Less: Garage Inset


: 39.93' x 17.50'
34.60' x 30.00' = 1,038.00'
7.50' x 14.00' = 105.00'


Sub-Total


= 699,13 S.F.


= 933.00 S.F.

= 1,632.13 S.F.


2nd Floor Residential


Overall Area

Open Air Sun Deck


Garage


Enclosed Patio


: 30.00' x 40.20'

: 40.30' x 12.50'

: 23.50' x 14.00'

: 20.60' x 16.00'


= 1,206,00 S.F.

= 503.75 S.F.

= 329.00 S.F.

= 329.60 S.F.


- MERCER D. HELMS 1
APPRAISEt





PACE 18


MARKET APPROACH



DISCUSSION

Investigations made in the local market and a comprehensive search of
the St. Johns County public records produced no improved real property
sales considered comparable to the subject ownership. The Market
Approach, therefore, will be relied upon in estimating the Market
Value of the subject land when considered bare and available for
development to its highest and best use.

The Market Approach is considered the most acceptable technique in
estimating Market Value because it is close to people who make the
market. This approach to Market Value, frequently referenced the
"Comparative Approach", involves an exacting comparison of the
subject property with similar properties sold recently in the open
market, The reliability of the Market Approach depends, first of
all, upon the degree of comparability existing between the subject
and each index sale. This technique necessitates an extensive
analytical study made on the basis of "like for a like" and "whole
for a whole", No two real properties are ever identical and judg-
ment and adjustments must be made for observed economic differences.

Fifteen free market transactions, involving primarily land sales,
were developed during my investigations. Various reasons necessitated
the elimination of all but five of the index properties that sold in
the subject area. The judgment analysis of these comparable will
follow in the "Comparative Land Value Summary".

It should be kept in mind that the availability of sites in the-
Restoration District is limited to relatively few parcels, and
scarcity has definitely affected prices asked and paid for historic
land. Two public organizations active in local restoration work
have more or less made the market and established value ranges that
were in effect on appraisal date.















[ MERCER D. HELMS 1
APPRAISER J


__






PAGE 19


COMPARATIVE LAND VALUE SUMMARY


SUBJECT: 96.24' Frontage on Castillo Drive


INDEX DATA


/ 7,112.0 Sq.Ft. In


INDEX #1


Grantor
Grantee
Book/Page


SALE DATE
PRICE
Less: Estimated Bldg.Val.
INDICATED NET PRICE TO LAND


SIZE


Frontage/Depth
Square Footage


Giles
St.Aug.Rest.
OR 245/763

12/31/73
$20,500.00
0
$20,500.00


42.0'/67.0'
2,814.00


Drysdale
Puerta Verde
OR 239/404

9/20/73
$150,000.00
69,000.00
$ 81,000.00


77.7+/116.75+
9,495.28


Unit Price Per S.F.
Time Adjustment Factor
Unit Price Time Adjusted


ECONOMIC ADJUSTMENTS*
Geographical Location
Neighborhood
Topography
Size
Shape & Utility
Utilities/Services
Traffic Pattern
Approach Visibility
Secondary Access
Highway Frontage

SUBJECT PROPERTY RATING
INDICATED VALUE BRACKET

*Index = 100% Subject is


$ 7.29
1,15
$ 8.38


Superior
SSame
Better
Superior
Better
Same
Better
Better
Better
Better

1.50
$ 12.57

"Superior", "Better", "Same",


$ 8.53
1.18
$ 10.07


Much Better
SSame
Better
Poorer
Same
Same
Same
Superior
Same
Better

1.30
$ 13.09

or "Poorer" than index.


[ MERCER D. HELMS
M APPRAIS ER


Ownership


INDEX #2





PAGE 20


COMPARATIVE LAND VALUE SUMMARY-CONTINUED


SUBJECT: 96.24' Frontage on Castillo Drive / 7,112.0 Sq.Ft. In Ownership


INDEX DATA

Grantor
Grantee
Book/Page


SALE DATE
PRICE
Less: Estimated Building Value
INDICATED NET PRICE TO LAND


SIZE
Frontage/Depth
Square Footage


Unit Price Per S.F.
Time Adjustment Factor
Unit Price Time Adjusted

ECONOMIC ADJUSTMENTS*
Geographical Location
Neighborhood
Topography
Size
Shape & Utility
Utilities/Services
Traffic Pattern
Approach Visibility
Secondary Access
Highway Frontage
SUBJECT PROPERTY RATING

INDICATED VALUE BRACKET


INDEX #4


St.Aug.Rest
Preserv.Bd.
OR 228/1002

4/16/73
$85,650.00
0
$85,650.00


61.48'+/122,45'+
7,528.53


$ 11.38
1.24
$ 14.11


Same
Same
Same
Poorer -
Same
Same
Same
Better
Better
Better

1.02

$ 14.39


INDEX #5


St.Johns Co.
Atlantic Bk,
OR 201/75

9/7/71
$55,000.00
0
$55,000.00



79.,9/127.59+
10,140.20


$ 5.42
1.42
$ 7.70


Superior
Better
Same
Poorer
Same
Same
Superior
Superior
Same
Superior
1.60

$ 12.32


INDEX #6


Elks Club
Monterey Ct.
OR 164/82

2/4/70
$81,000.00
0
$81,000.00



80. x 159.38' +
12,750.00


$ 6.35
1.62
$ 10.29


Superior
Same
Same
Poorer
Same
Same
Same
Better
Same
Better

1.20


$ 12.35


*Index = 100% Subject is "Superior", "Better", "Same", or "Poorer" than index.


[ MERCER D. HELMS 1
APPRAISER J




PAGE 21


LAND VALUE CONCLUSION


The five index sales analyzed on the preceding "Comparative Land Value
Summary" developed a value bracket ranging from $13.54 Per Square Foot
to $16.25 Per Square Foot for the subject land. People in the market
are aware of the rapid price increase of real estate since 1970, and
no informed person will sell a scarce parcel of real property for less
than the known going price.

The judgment weights in the adjustment process are assigned as follows:


Index #1

Index #2

Index #4

Index #5

Index #6

ESTIMATED UNIT


: $12.57 x 20%

S $13.09 x 20%

S $14.39 x 30%

: $12.32 x 15%

S $12.35 x 15%

VALUE OF SUBJECT LAND


ROUNDED



ESTIMATED MARKET VALUE OF SUBJECT SITE


7,112.0 Sq. Ft. (Survey) x $13.15

ROUNDED


= $ 2.514 P.S.F.


2.618 P.S.F.

4.317 P.S.F.


= 1.848 P.S.F.

= 1.853 P.S.F.

= $13.150 P.S.F.

= $13.15 P.S.F.


S $93,522.80

U $93,500.00


[ MERCER D. HELMS 1
APPRAISER J





PAGE 22


COST APPROACH


The Cost Approach is the simple addition of bare land value found in
the market and the estimated replacement cost new of the depreciated
physical improvements. This appraisal technique is a summation cost
estimate and not a summation value. The Cost Approach usually reflects,
however, the upper limit of Market Value under the Law of Substitution
in that a prudent person will never pay more than the cost of an
equally desirable substitute property provided there is no undue
delay in gaining possession.

ESTIMATED REPLACEMENT COST NEW COMMERCIAL AREA

1,632.13 S.F. @ $16.50 P.S.F. = $26,930.15

ESTIMATED REPLACEMENT COST NEW RESIDENTIAL


1,206.00 S.F. @ $22,00 P.S.F. = 26,532.00


Sub-Total

LESS: Observed Depreciation-All Causes @ 12.5%

ESTIMATED R.C.N. AFTER DEPRECIATION MAIN BLDG.


= $ 53,462.15

r= 6,682.77

= $ 46,779.38


ESTIMATED R.C.N. AFTER DEPRECIATION


Sun Deck


: 503.75 S.F. @ $ 1.75 S.F. x 90.0% Good


793.40


Garage : 329.00 S.F, @ $ 5.65 S.F, x 87.5% Good

Patio 329.60 S.F. @ $ 2.50 S.F. x 95,0% Good

ESTIMATED REPLACEMENT COST NEW -IMPROVEMENTS DEPRECIATED


S 1,626.49

= 782.80

= $ 49,982.07


ADDITIONS


Bare Land See Page 21 = $93,500.00
Brick Paving : 4,706.37 S.F. @ $ 1.50 P.S.F. = 7,059.56


Block Wall


S857.94 S.F. @ $ 2.00 P.S.F. =


1,715.88


ESTIMATED MARKET VALUE OF SUBJECT PROPERTY COST APPROACH


ROUNDED


= $102,275.44

= $152,257.51

= $152,000.00


[ MERCER D. HELMS
APPRAISER




PAGE 23


VALUE CONCLUSION



Appraisal techniques utilized in this assignment produced the following
indications of Market Value,


COST APPROACH


MARKET APPR

EARNING


: $152,000.00

OACH Applicable For Land Value Only

GS APPROACH Not Considered Applicable


The Cost Approach, as stated earlier in this report, will generally reflect
the upper limit of Market Value under the Law of Substitution. The subject
improvements, built in 1964, have been given satisfactory maintenance,
and for all practical purposes they are relatively new in actual age.
Accrued depreciation observed in the physical structures, was estimated
with care and land value was found in the market by comparison. Replace-
ment cost estimates were based on the opinions of contractors and a cost
service.


Consideration was given the use of the Earnings Approach in the subject
assignment, but this technique was not found applicable. There was
nothing in the market to indicate a probable or realistic income flow
from the special purpose improvement on the subject land. Also,-it
was not possible to estimate the probable rent that the subject facility
would command for a public use. Therefore, the entire weight in a
Value Conclusion is given the Cost Approach.


ESTIMATED MARKET VALUE OF THE SUBJECT PROPERTY


: $152,000.00


[ MERCER D. HELMS
APPRAXISF R





PAGE 24


VALUE CERTIFICATE



It is my opinion that the Market Value of the subject property described
in this report, based upon thorough personal analysis of all factual data
developed or brought to my attention during my market investigations, as
well as information furnished by outside sources considered reliable but
for which this Appraiser assumes no responsibility, subject to conditions
revealed by the Registered Land Survey, and subject to "Limiting Conditions"
made a part of this report containing 34 pages, as of 15 April 1975, was:

ONE HUNDRED FIFTY-TWO THOUSAND DOLLARS ($152,000.00)

This Value Certificate is null and void if any or all of the contents of
the subject report are conveyed to the public through advertising, public
relations, news, sales or other media, without the written consent and
approval of the author, particularly as to valuation conclusions, the
identity of the Appraiser, or any reference to the American Institute
of Real Estate Appraisers, or to the M.A.I. designation.












CERTIFICATION


This Appraiser certifies that he made comprehensive inspections of the
subject property on 14 April 1975, 16 April 1975, and 18 April 1975.

Also, it is certified that this Appraiser has no personal interest what-
soever in the subject ownership and that the service fee is in no way
related to the estimated Market Value reported above.

Respectfully submitted,



Mercer D. Helms, M,A.I.



[ MERCER D. HELMS 1
APPRAISER I





PAGE 25



LIMITING CONDITIONS

1) The legal description furnished or authorized for this assignment is
assumed correct.

2) The appraisal is based upon a fee simple ownership under competent management.

3) The subject property title is assumed merchantable, but the Appraiser accepts
no responsibility for the validity of the title or other matters of a legal
nature.

4) The Appraiser has no responsibility for the consideration of any existing
easements or recordations affecting the subject property unless he was
given written notice thereof. Liens.and encumbrances, if any, have been
disregarded and the subject property has been appraised as free and clear
of all encumbrances.

5) Subsurface rights were not considered in making this appraisal.

6) The Appraiser has not tested the subject soil but believes that the
information concerning this phase of the report is dependable. Subsidence
is unknown in this area but the Appraiser does not warrant against such
condition or occurrence.

7) The estimated Market Value placed op land here-in applies only under existing
conditions and must not be used in conjunction with any other appraisal.
Any violation automatically voids the "Certificate of Market Value."

8) It is assumed that all engineering data furnished for this assignment are
correct. The Appraiser has not made a land survey or caused one to be
made and does not accept responsibility for such data.

9) Information from all sources, identified in-this report, are believed
reliable, but the Appraiser does not guarantee accuracy of the same.

10) Possession of this report or any copy thereof does not carry the right of
publication nor may it be used in whole or part by anyone but the
Appraiser's employer. Reproduction of this report in total or part is
strictly prohibited without the express written consent of the Appraiser.

11) Diagrams and sketches included here-in are visual aids for the reader.
Care has been given the preparation of such data, but the same are not
drawn to scale and can be used solely for the intended purpose.

12) The Appraiser is not required to give testimony or attendance in any court
or Governmental hearing with reference to the subject appraisal unless
prior arrangements, including witness fees, have been made therefore.


MERCER D. HELMS
APPRAISER J





PAGE 26


QUALIFICATIONS OF THE APPRAISER

MEMBER

American Institute of Real Estate Appraisers Gainesville Board of Realtors
National Association of Real Estate Boards Florida Association of Realtors
Past President, Lake County Board of Realtors
Society of Residential Appraisers

EDUCATIONAL BACKGROUND

Graduate Barton Academy, Mobile, Alabama 1924. Bachelor of Science Degree -
Business Administration Auburn University (A.P.I.) 1929. Advanced Banking,
Economics and Insurance New York University Evening School 1930/35.
Graduate Battery Officer Field Artillery School 1941.

Successfully completed required Appraisal Courses sponsored and/or conducted by
the American Institute of Real Estate Appraisers at the University of Florida
and Michigan State University June and July, 1954.

Condemnation and Appraisal Seminar Southwestern Legal Foundation and A.I.R.E.A.,
Dallas 1955. Condemnation Seminar, 4th Pan American Appraisal Congress,
Chicago 1957.

Attended Appraisal Course #IV (Eminent Domain) Syracuse University 1959,
and Louisiana State University 1963. '

Field Director Appraisal Course #II (Rural) University of Florida 1958.
Chairman of Course Supervisors, Appraisal Course #1, University of Florida 1959.

PROFESSIONAL EXPERIENCE

Former Credit Investigator and Correspondent Bank Representative for Manu-
facturers Trust Company New York City. Former Vice President and Director,
Merchants National Bank Syracuse, New York. General Real Estate and Insurance
Business in Central Florida since being honorably discharged from the U. S. Army
late in 1944. Entire time devoted to the Appraisal profession since 1950.

Assignments completed for Governmental Agencies, Commercial Banks, Petroleum
Products Corporations, Insurance Companies, Attorneys and Investors. Qualified
witness in the U. S. District Court Northern & Middle Districts of Florida
and Fifth, Seventh and Eighth Judicial Circuits of Florida.

APPROVED APPRAISER FOR
Jefferson Standard Equitable Life U. S. Navy U. S. Corps of Engineers -
General Services Administration Federal Housing Administration
U. S. Department of Justice State Road Department of Florida
Mortgage Guaranty Insurance Corporation


_ [ MERCER D. HELMS 1
A PPRA ISER J





PAGE


ADDENDA


APPRAISAL REPORT

Improved Real Estate
#12 Castillo*Drive
St. Augustine, Florida






























MERCER D. HELMS
APPRAISER










INDEX SALE


1


SJames Cook Giles, St. Augustine, Florida

SSt. Augustine Restoration, Inc.

: S/E Corner Cuna Street and Spanish Street,
St. Augustine, Florida.


LEGAL DESCRIPTION:


SIZE


Lot 11, Block 13, City of St. Augustine,
St. Johns County, Florida.


: 42.0' (Cuna Street) x 67.0' (Spanish Street) /
2,814,0 Square Feet


OPTIMUM USE


ZONING


IMPROVEMENTS


Commercial


SZone #1 HP/3 Historical Restoration District.

: The old frame building on the index site is scheduled
to be razed by the Grantee, The structure makes no
contribution to the index land.


31 December 1973

Cash Transaction.


SALE PRICE : $ 20,500.00


RECORDATION DATA

COMMENTS


OR
OR 245


Page 763


Filed 1 / 4 / 74


SPrior index sale Hairston, Exec. to James Cook Giles
on 19 December 1973 (OR 245/762) for a confirmed price
of $19,500.00 cash. The Grantee in OR 245/763 paid
Giles $20,500, which was $1,000.00 more than the
consideration in the prior index sale. Inspected
by Mercer D. Helms on 4/16/75 at 10:50 a.m.

UNIT PRICE 1 $7.29 Per Sq. Ft. (1974)


CONFIRMED BY

Code City
County


: Mr. William Rolleston

: #197560
: #197560 5E/18N


To: Mercer D. Helms

On 4 / 7 / 75 At 10:15k
At Restoration Office


DOCUMENTARY STAMPS: $3.00 (Florida) $1,000.00 (See Comment)


MERCER D. HELMS
APPRAISER


PAGE 27


GRANTOR

GRANTEE

LOCATION


SALE DATE


TERMS


:






PAGE 28


INDEX SALE


2


: W I. Drysdale, et ux, St. Augustine, Florida.

: Puerta Verde of St. Augustine

: 46 Avenida Menendez, St. Augustine, Florida.


LEGAL DESCRIPTION:


SIZE


Lot "C" of Re-Subdivision of Lot 1, and all of
Lot 2, Block 5, City of St. Augustine,
St. Johns County, Florida.


: 77.66' (Avenida Menendez) x 116,75' x 85.0'
(Charlotte St.) x 116.75 / 9,495.28 S.F.


OPTIMUM USE


ZONING


IMPROVEMENTS


Commercial.


Zone #1 HP/3 Historic Restoration District.

Two-story, masonry dwelling with exterior patio
improvements. The structure, built around 1800,
has been given excellent maintenance.


SALE DATE


20 September 1973


SALE PRICE: $150,000.00


TERMS


RECORDATION DATA

COMMENTS


CONFIRMED BY

Code City
County


1st mortgage $120,000.00 / Payable $966.72
monthly at 7AX interest.


OR 239


Page 404 Filed 9 /21 / 73


: Replacement cost new of the index structure, after
depreciation, was estimated at $69,000.00 which left
$81,000.00 to land.
Inspected by Mercer D. Helms on 4/14/75 at 4z10 p.m.


UNIT PRICE : $8.53 Per Sq. Ft. (1973)


: Willard Howatt,.Attorney To: Mercer D. Helms


: #196350
: #196350 / 5E/18S


On 3/20/75 At 3:30 PM


DOCUMENTARY STAMPS : $450.00 (Florida) $150,000.00


MERCER D. HELMS
APPRAISER


GRANTOR

GRANTEE

LOCATION


:


:




PAGE 29


INDEX SALE


3


: Robelle E. Griffin, et al
Marie Walls, et vir, St. Augustine, Florida
: Thompson-Bailey Agency, Inc., St. Augustine, Florida

: W/S Charlotte Street approx. 102.0'+ north of
Hypolita Street, St. Augustine, Florida.


LEGAL DESCRIPTION:


SIZE


OPTIMUM USE


Parcel #1 Lot 10, Block 8
Parcel #2 Lot 11, Block 8 all in St. Augustine
St. Johns County, Florida.

76.0' (Charlotte Street) x 105.0'+ / 7,980.0 Sq. Ft.


: Commercial


ZONING


IMPROVEMENTS


Zone #1 HP/3 Historical Restoration District.


None of any value to Grantee. This index land was
to be cleared of structures according to
Pierre Thompson


: 16 May 1973
20 July 1973


SALE PRICE: $17,500.00
17,500.00
Total : $35,000.00


132
Page 135


RECORDATION DATA:


7 30 73
Filed 7 / 30/ 73


: The cost to raze the old buildings was $3,000,00 which
increased the actual price paid to $38,000.00 accord-
to the Grantee.
Inspected by Mercer D. Helms on 4/14/75 at 3:35 p.m.


UNIT PRICE : $4.76 Per Sq. Ft. (1973)


CONFIRMED BY


: Pierre Thompson.


To: Mercer D. Helms
AM
n A / /75 At Q1An *-


Code City : #196710 824-1631
County : #196710 5E/18N
$52.50
DOCUMENTARY STAMPS : $52.50 / $105,00 Florida $35,000.00


APPRAISER


GRANTOR

GRANTEE

LOCATION


SALE DATE


TERMS


COMMENTS


r ,rv UR






PAGE 30


INDEX SALE 4



: St, Augustine Restoration, Inc.

: Historic St. Augustine Preservation Board

: E/S St. George Street approximately 118,34*+
north of Cuna Street, St. Augustine, Florida


LEGAL DESCRIPTION:


SIZE


OPTIMUM USE

ZONING

IMPROVEMENTS


Lot 7, Block 7, City of St. Augustine,
St. Johns County, Florida.


S60,16' (St. George St.) x 124.57' x 62.80' x 120.34' /
7,528.53 Sq. Ft.

SCommercial Use Conforming to Historic District.

Zone #1 HP/3 Historic Restoration District.

: The old structure on the index site was razed by
the Grantee. It made no contribution to the
value of the index land.


S16 April 1973

SCash Transaction.


SALE PRICE : $ 85,650.00


RECORDATION DATA:


OR 228


Page 1002


Filed 4 /16/ 73


Theresa Paffe, unmarried, sold the St. Augustine
Restoration, Inc. the index property on 11/14/72
(OR 220/946) for a confirmed price of $85,650.00
cash. The subject Grantor conveyed to the subject
Grantee at the same price.
Inspected by Mercer D. Helms on 4/16/75 at 11:25 a.m.


UNIT PRICE : $11.38 Per Sq. Ft. (1973)


CONFIRMED BY

Code City
County


: Mr. John W. Griffin

S#196490
: #196490 5E/18N


To: Mercer D. Helms

On 3 / 18/75 At3:35


DOCUMENTARY STAMPS : $251.10 (Florida) $85,700.00


MERCER D. HELMS
APPRAISER


GRANTOR

GRANTEE

LOCATION


SALE DATE


TERMS


COMMENTS






PAGE 31


INDEX SALE


5


SSt. Johns County, Florida

: The Atlantic Bank of St. Augustine

: S/W Corner Treasury Street and Charlotte Street,
St. Augustine, Florida


LEGAL DESCRIPTION:


SIZE


OPTIMUM USE


See Warranty Deed for lengthy description. All
in Block #10, City of St. Augustine,
St. Johns County, Florida.

125.5' (S/S Treasury St.) x 82.0' (Charlotte St.) x
128.6' x 77.0' / 10,140.2 Sq. Ft.


Commercial


ZONING


IMPROVEMENTS


SZone #1 HP/3 Historic Restoration District.

: The two-story, brick structure, on the index site
was razed at a cost of $10,000.00 to make way for
a bank parking lot.


S7 September 1971

: Cash transaction.


SALE PRICE : $ 45,000.00


RECORDATION DATA

COMMENTS


OR 201
OR 201


Page


Filed 9 /17 / 71


: Actual land cost, including cost to raze the old
court house, was $55,000.00.
Inspected by Mercer D, Helms on 3/27/75 at 2:01


p.m.


UNIT PRICE : $5.42 Per Sq. Ft. (1971)


CONFIRMED BY

Code City


: Don Tully, President
Atlantic Bank
S#197200


To: Mercer D. Helms

On 3 /27/ 75 At 1:45 pM


County : #197200 5E/18S

DOCUMENTARY STAMPS : $135.00 (Florida) $45,000.00


_-[


MERCER D. HELMS
APPRAISER


GRANTOR

GRANTEE

LOCATION


SALE DATE


TERMS


:






PAGE 32


INDEX SALE


6


: The Elks Club, Inc., St. Augustine, Florida.

: Monterey Court, Inc., St. Augustine, Florida.

SN/W Corner Hypolita Street and Avenida Menendez,
St. Augustine, Florida.


LEGAL DESCRIPTION:


SIZE


OPTIMUM USE


ZONING


IMPROVEMENTS


Lot 5 of Block 2, except south 5,0', City of
St. Augustine, St..Johns County, Florida.


80.0' (Avenida Menendez) x 170.0' (Hypolita Street)
x 80.0' (Charlotte Street ) x 170,0' except
south 5.0' / 12,750.0 Sq. Ft.
Commercial.

Zone #1 HP/3 Historic Restoration District.

None of any value to Grantee who razed the old
structure to make way for new motel units.


4 February 1970

Cash Transaction,


SALE PRICE : $81,000,00


RECORDATION DATA

COMMENTS


OR 164


Page 82


Filed 2 / 6 / 70


SThis was a bare land transaction. The old club
building was razed by the Grantee to make way for
new motel units. Net land area, after deducting
the south 5.0', was 12,750.0 Sq. Ft.
Inspected by Mercer D. Helms on 4/14/75 at 3:45 p.m.


UNIT PRICE : $6.35 Per Sq. Ft. (1970)


CONFIRMED BY

Code City
County


: Richard Weinberg, Atty,

: #196250
: #196250 5E/18N


To:Mercer D. Helms

On 4 /4 / 75 At 4:05 PM
829-5635


DOCUMENTARY STAMPS : $243.00 (Florida) $81,000.00

F MERCER D. HELMS
APPRAISER I


GRANTOR

GRANTEE

LOCATION


SALE DATE


TERMS


:





PAGE 33


INDEX SALE 7



: Ann M. McGraw, Widow

SSt. Augustine Restoration, Inc.
St. Augustine, Florida
: W/S Charlotte Street approximately 47.0' + south
of Cuna Street, St. Augustine, Florida.


LEGAL DESCRIPTION:


SIZE


OPTIMUM USE


Lot 14, Block 8, City of St. Augustine,
St. Johns County, Florida


: 27.0' (Charlotte Street) x 120.0' / 3,240.0 Sq. Ft.


Commercial.


: Zone #1 HP/3 Historic Restoration District.


IMPROVEMENTS




SALE DATE


: Frame building was razed
had no intrinsic value.



: 12 April 1968


because the structure




SALE PRICE: $ 19,300.00


: Cash Transaction.


RECORDATION DATA: OR 124


COMMENTS


Page 231


Filed 5 / 1 / 68


: The index conveyance included a 5.0' driveway
easement in Lot 13 of Block 8.
Inspected by Mercer D. Helms on 4/14/75 at 2:25 p.m.


UNIT PRICE : $5.96 Per Sq. Ft. (1968)


CONFIRMED BY

Code City
County


: Mr. William Rolleston

: #196740
: #196740 5E/18N


To: Mercer D. Helms

On 4 / 7 / 75 At 10:30P)
At Restoration Office


DOCUMENTARY STAMPS : $57.90 (Florida) $19,300.00


MERCER D. HELMS
APPRAISER


GRANTOR

GRANTEE

LOCATION


ZONING


TERMS





MAP OF SURVEY

SCALEt 1" 20' APRIL, 1975

DESCRIPTION:

ALL THAT CERTAIN LOT, PIECE OR PARCEL OF LAND WITH THE BUILDINGS AND
IMPROVWEMTS THEREON, SITUATE, LYING AND BEING IN THE CITY OF ST. AUGUSTINE
FRONTING ON FORT MARION, AND BEING ALL OF THE LOT WHICH WAS PURCHASED FROM
J. J. FERRELL ON JANUARY 16, 1854, BY DEED RECORDED IN DEED BOOK "Q", PAGE
92, OF THE PUBLIC RECORDS OF ST. JOHNS COUNTY, FLORIDA, MEASURING 46 FEET
MORE OR LESS IN FRONT AND REAR, AND 77 FEET MORE OR LESS ON THE NORTH AND
SOUTH LINES, AND IS BOUNDED ON THE NORTH BY A LANE CALLED FORT LANE, EAST
BY STREET OR GOVERNMENT T RESERVATION, SOUTH BY GOVERNMENT RESERVATION AND
WEST BY LOT OP W. G. PONCE AND ESTATE OF NEEDAN. BEING LOT 20 OF BLOCK
7 OF THE OFFICIAL MAP OF THE CITY OF ST. AUGUSTINE, MADE BY ROBERT RANSON
AND DATED JANUARY 1, 1905, AND NOW ON FILE IN THE OFFICE OF THE CLERK OF
THE CIRCUIT COURT OF THE COUNTY OF ST. JOHNS AND STATE OF FLORIDA, EXCEPTING
THERIfROM THE PART CONVEYED TO STATE OF FLORIDA FOR HIGHWAY PURPOSES AS
DESCRIBED IN DEED DATED MARCH 9, 1959, AND RECORDED IN DEED BOOK 249, PAGE
669, AND ALSO THE PART CONVEYED TO THE UNITED STATES OF AMERICA BY DEED
DATED MARCH 26, 1964, AND RECORDED IN OFFICIAL RECORDS BOOK 54, PAGE 506,
PUBLIC RECORDS OF ST. JOHNS COUNTY, FLORIDA.

ALSOs LOT 21, BLOCK 7, CITY OF ST. AUGUSTINE, ACCORDING TO FLAT GP SAID
CITY DATED JANUARY 1, 1905, ON FILE IN THE OFICE OF THE CLERK OF THE
CIRCUIT COURT ST. JOHNS COUNTY, FLORIDA.

ALSO BEGIN AT THE NORTHEAST CORNER OF LOT 2, BLOC 7, CITY OF ST.
AUGUSTINE, THECE RUN NORWERLY IN A STRAIGHT LIR '7 A POINT IN THE SOUTH
LINE OF FORT ALLEY WHICH POINT IS THE NMTH(rST COOlER OF LOT 21 OC
SAID BLOCK 7, RUN THECE WESTERLY OK TE SOUTr LINE OF FORT ALLEY 20
FEET, RUN THECE SOUTHELY PARALLEL TO M8 FIRST LINE TO A POINT O THE
NORTH LINE OF SAID LOT 2, RUN THM CE EAM & ALOG THE NORTH LINE OF SAID
LOT 2, 20 FEET TO POINT OF BEGINNING.

ALSOs BEGINNING AT THE NORTHEAST CORNER OF LOT 2, BLOCK 7, CITY OF ST.
AUGUSTINE, RUN THENCE EASTERLY ALONG THE NCRTH LINE OF LOT 22 TO A POINT
WHERE THI SAID LINE INTERSMETS THE WEST LINE OF LOT 19 OF SAID BLOCK 71
THENCE IN A NORTHERLY DIRECTION AL~CG THE WEST LINE OF SAID LOT 19 TO A POINT
WHERE THE WEST LINE OF LOT 19 INTBSTS TE1 SOfUT LINE OF LOT 20 OF SAID
BLOCK 71 THEIC IN A WESTMI DIRETI(N ALOM TB SOTH LINE OF LOTS 20
AND 21 TO THE SOUTHWEST COER OF LOT 211 THMS IN A SOUTH DLY DIRECTION TO
THE POINT OF BEGINNING, BEING A PART OF LOT 1, BLOCK 7, CITY OF ST.
AUGUSTINE, FLORIDA.

ALSOs ALL OF THAT LAND WITHIN AN AREA bEINNING AT TK SOUTHEAST CcR
OF LOT 1, BLOCK 7, CITY (O ST. AUGUSTINE, RUN 1MIKE OR ELY ALCG THE
EAST LINE OF LOT 1 TO A POINT WEE THE SID LINE INTUMSTS THE SOUTHERLY
LINE O LOT 201 T' iCE IN AN EASTELY DIRE TIO ALORG Tm S MTH LINE OF
SAID LOT 20 TO A POINT WHERE THE SAID LINE INTRSiCTS ME SOUTHIRLY RIGHT
OF WAY OF THE PROPOSED CASTILLO DRIVE AS SHWO O THAT CERTAIN MAP IN THREE
SHOTS PREPARED BY E. W. PACETTI AND ASSOCIATES ARIL 23, 1960, AND
REVISED JUNE 2, 1960 (MAP NO. NM-CSM-3012) RECORDED IN THE ST. JOHNS COUNTY
CIRCUIT CLERK'S OFFICE, PLAT BOOK NO. 10, PAGES 91, 92 AND 93; THEUCE IN A
SOUTHEASTERLY DIRECTION ALONG SAID PROPOSED CASTILLO ]RIVE RIGHT OF WAY TO
A POINT WHERE SAID LINE INTERSECTS THE PROJWTED SOUTH LINE OF LOT 1
OF SAID BLOCK 7, THENCE IN A WESTERLY DIRECTION TO THE POINT OF BEGINNING,
CONTAINING 310 SQUARE FEET, MORE OR LESS.



I HEREBY CERTIFY That the above
MAP OF SURVEY is to the best of my
knowledge a correct representation
of the herein described property as
recently surveyed under my direction.



R BISTERD SUvINEo NO. 421
REGISTERED SURVEY# NO. 894




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