2026 Valuation Stmt.pdf
The Sophia LLC Petitioner Vs. City Of Traverse City Respondent · 26-001397-TT
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Valuation Report DB: Tr2026 09/02/2026 10:14 AM 905,800 905,800 905,800 764,478 764,478 0 2026 Assessed MBOR S.E.V. Capped ->Taxable<- PRE/MBT 117,000 121,300 0 117,000 17,022 0 2026 New Eq. Adjustment Loss Additions Tax Adjustment Losses 667,500 667,500 667,500 630,456 2.70 2025 Assessed MBOR S.E.V. Base for Cap IRM Est. TCV/Total Floor Area = 392.14, Most recent sale 01/29/2026 for 1,750,000 2026 Est. T.C.V. 28-51-798-009-00 = 1,811,672 Total Estimated True Cash Value of Commercial/Industrial Buildings = 1,474,636 Replacement Cost/Floor Area= 203.17 Est. TCV/Floor Area= 319.19 ECF (2220 COMMERCIAL CDB GENERAL AREA) 2.123 => TCV of Bldg: 1 = 1,474,636 Total Depreciated Cost = 694,600 Eff.Age:10 Phy.%Good/Abnr.Phy./Func./Econ./Overall %Good: 74 /100/100/100/74.0 Reproduction/Replacement Cost = 938,649 4,620 Sq.Ft. of Sprinklers @ 6.08, Cost New = 28,090 Basement Area: 2,520 Base Cost New of Basement = 144,471 Total Floor Area: 4,620 Base Cost New of Upper Floors = 766,088 Adjusted Square Foot Cost for Basement = 57.33 Adjusted Square Foot Cost for Upper Floors = 165.82 Bsmnt Heating system: Forced Air Furnace Cost/SqFt: 9.56 (10) Heating system: Package Heating & Cooling Cost/SqFt: 19.95 100% (Basement Fireproofing Rate = 0.00) Storage Basement Basement, Base Rate for Basement = 47.77 Base Rate for Upper Floors = 145.87 Stories: 1 Story Height: 12 Perimeter: 342 Class: C Quality: Average <<<<< Calculator Cost Computations >>>>> Costs are taken from the Stores - Drug Store cost schedules. Cost Estimates for Commercial/Industrial Building/Section: 1 Built 1940 Total Estimated Land Improvements True Cash Value = 6,894 D/W/P: Asphalt Paving 3.13 4495 49 6,894 Description Rate Size % Good Cash Value Land Improvement Cost Estimates 66 Actual Front Feet, 0.25 Total Acres Total Est. Land Value = 330,142 * denotes lines that do not contribute to the total acreage calculation. 10,827.000 Sq Ft 30.49 100 330,142 66.00 165.00 1.0000 0.0000 0 100* 0 Description Frontage Depth Front Depth Rate %Adj. Reason Value * Factors * Land Value Estimates for Land Table 2040.2040 E FRONT ST/MUNSON AVE Map #: RETAIL CANNABIS 20 28-51TRAVERSE CITY-GTC TRAVERSE CITY, MI 49686 Property Class: 201 440 E FRONT ST 28-51-798-009-00 2026 Est. T.C.V. SOPHIA LLC, THE