ValuationReport 1301 N Eaton.pdf
The Huntington National Bank, Petitioner V City Of Albion, Respondent · 25-001793-TT
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Valuation Report AssessmentRoll Roll: CITY OF ALBION 2025 07/21/2025 12:10 PM 51-005-812-00 2025 Est. T.C.V. CHEMICAL BANK SOUTH Property Class: 201 1301 N EATON ST Map #: CITY OF ALBION ALBION, MI 49224 Land Value Estimates for Land Table 102.102-COMMERCIAL OTHER * Factors * Description Frontage Depth Front Depth Rate %Adj. Reason Value MINIMUM SITE 264.00 0.00 0.7169 0.0000 0 0 NOT USED FOR VA 00 VALUE BY LOCATION UP TO.7 AVG 0.70 Acres 80,000 100 56,000 VALUE BY LOCATION 0.7 - 2 LOW 0.30 Acres 13,000 100 3,900 264 Actual Front Feet, 1.00 Total Acres Total Est. Land Value = 59,900 Land Improvement Cost Estimates Description Rate Size % Good Cash Value D/W/P: Asphalt Paving 3.21 30000 40 38,520 D/W/P: 5in Ren. Conc. 9.26 1704 80 12,623 Unit in Place Item(s) Description Rate Size % Good Cash Value CONCRETE 3-1/2" 3.04 440 55 736 Commercial Local Cost Land Improvements Description Rate Size % Good Arch Mult Cash Value SPOTLIGHTS 185.00 4 57 108 459 METAL POLES,PER LF 55.00 40 57 108 1,364 Total Estimated Land Improvements True Cash Value = 53,702 Cost Estimates for Commercial/Industrial Building/Section: 1 Built 1974 Costs are taken from the Banks - Central cost schedules. <<<<< Calculator Cost Computations >>>>> Class: C Quality: Good Stories: 1 Story Height: 9 Perimeter: 200 Overall Building Height: 15 Base Rate for Upper Floors = 262.62 (10) Heating system: Package Heating & Cooling Cost/SqFt: 26.35 100% Adjusted Square Foot Cost for Upper Floors = 288.97 Total Floor Area: 2,178 Base Cost New of Upper Floors = 629,377 Reproduction/Replacement Cost = 629,377 Eff.Age:32 Phy.%Good/Abnr.Phy./Func./Econ./Overall %Good: 52 /100/100/100/52.0 Total Depreciated Cost = 327,276 Lump Sum Items Rate Quantity Arch %Good Depr.Cost DRIVE-UP WINDOW 9277.26 1 1.00 48 4,453 PNEUMATIC UNITS 24473.78 3 1.00 48 35,242 CONC COVERED PORCH 10.42 153 1.00 48 765 CANOPY 22.25 975 1.00 48 10,413 CANOPY 22.25 689 1.00 48 7,359 ECF (201-COMMERCIAL OTHER) 0.620 => TCV of Bldg: 1 = 239,015 Replacement Cost/Floor Area= 288.97 Est. TCV/Floor Area= 109.74 2025 Est. T.C.V. 51-005-812-00 = 352,617 Est. TCV/Total Floor Area = 161.90 2024 Assessed MBOR S.E.V. Base for Cap C.P.I. 153,300 153,300 153,300 153,300 3.10 2025 New Eq. Adjustment Loss Additions Tax Adjustment Losses 0 23,000 0 0 4752 0 2025 Assessed MBOR S.E.V. Capped ->Taxable<- PRE/MBT 176,300 176,300 176,300 158,052 158,052 0