2026 Valuation Report.pdf
Hotel Indigo Traverse City Petitioner Vs. City Of Traverse City Respondent · 26-001051-TT
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Valuation Report DB: Tr2026 07/16/2026 01:36 PM /CI16/YARI/PAV/495A 8.14 14857 1.00 74 89,493 /CIMS/DOC/LOARA 74.46 840 1.00 74 46,284 Unit in Place Items Rate Quantity Arch %Good Depr.Cost Total Depreciated Cost = 99,993 Eff.Age:13 Phy.%Good/Abnr.Phy./Func./Econ./Overall %Good: 74 /100/100/100/74.0 Reproduction/Replacement Cost = 135,126 Architectural Multiplier: 1.00 Total Cost New = 135,126 Total Cost of Lump-Sum Items = 58,458 4 Stories Above Ground, Number of stories multiplier for upper stories = 1.003 Total Cost of Upper Stories = 76,439 Steel Frame 1 Up 42.33 1381 1.000 1.000 58,458 Canopies & Marquees: (39) Miscellaneous Architect. 1 Up 49.22 1553 1.000 1.000 76,439 Steel Space Frame and Sheathing, (13) Roof Structure: Item Desciption Col. Rate SqFt Adj. Adj. Cost Cost # or Height Storys Costs taken from Segregated Cost Section 1: Apartments, Clubs, Hotels <<<<< Segregated Cost Computations >>>>> Total Depreciated Cost = 13,727,733 Eff.Age:13 Phy.%Good/Abnr.Phy./Func./Econ./Overall %Good: 74 /100/100/100/74.0 Reproduction/Replacement Cost = 18,550,991 78,739 Sq.Ft. of Sprinklers @ 3.93, Cost New = 309,444 Mezzanine 1 Area: 2,578 Base Cost New of Mezzanine = 126,219 Basement Area: 33,120 Base Cost New of Basement = 2,051,785 Total Floor Area: 78,739 Base Cost New of Upper Floors = 16,063,543 Adjusted Square Foot Cost for Basement = 61.95 Adjusted Square Foot Cost for Upper Floors = 204.01 Bsmnt Heating system: Ventilation only, Ducts/Blowers Cost/SqFt: 3.23 (10) Heating system: Zoned A.C. Warm & Cooled Air Cost/SqFt: 31.42 100% Mezzanine 1 Open Base Rate = 48.96 (Basement Fireproofing Rate = 8.78) Parking Basement Basement, Base Rate for Basement = 49.94 Base Rate for Upper Floors = 172.59 Stories: 4 Story Height: 11 Perimeter: 1138 Class: C Quality: Average <<<<< Calculator Cost Computations >>>>> Costs are taken from the Hotels - Full Service cost schedules. Cost Estimates for Commercial/Industrial Building/Section: 1 Built 2013 236 Actual Front Feet, 0.83 Total Acres Total Est. Land Value = 5,410,993 * denotes lines that do not contribute to the total acreage calculation. 36,372.000 Sq Ft 148.77 50 LG PCL ACROSS PKWY FROM WATER5,410,993 75.00 150.00 1.0000 0.0000 0 100* 0 50.00 150.00 1.0000 0.0000 0 100* 0 111.00 156.97 1.0000 0.0000 0 100* 0 Description Frontage Depth Front Depth Rate %Adj. Reason Value * Factors * Land Value Estimates for Land Table 2060.2060 GARLAND - GRANDVIEW Map #: 28-51TRAVERSE CITY-GTC TRAVERSE CITY, MI 49684 Property Class: 201 263 W GRANDVIEW PKWY 28-51-658-031-01 2026 Est. T.C.V. PHR TCI LLC
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Valuation Report DB: Tr2026 07/16/2026 01:36 PM 17,762,700 17,762,700 17,762,700 12,333,408 12,333,408 0 2026 Assessed MBOR S.E.V. Capped ->Taxable<- PRE/MBT 0 2,563,200 0 0 324,247 0 2026 New Eq. Adjustment Loss Additions Tax Adjustment Losses 15,199,500 15,199,500 15,199,500 12,009,161 2.70 2025 Assessed MBOR S.E.V. Base for Cap IRM Est. TCV/Total Floor Area = 447.60, Most recent sale 08/09/2018 for 26,009,000 2026 Est. T.C.V. 28-51-658-031-01 = 35,525,432 Total Estimated True Cash Value of Commercial/Industrial Buildings = 30,114,439 Replacement Cost/Floor Area= 278.74 Est. TCV/Floor Area= 473.41 ECF (2220 COMMERCIAL CDB GENERAL AREA) 2.123 => TCV of Bldg: 2 = 298,251 Total Depreciated Cost = 140,486 Eff.Age:9 Phy.%Good/Abnr.Phy./Func./Econ./Overall %Good: 80 /100/100/100/80.0 Reproduction/Replacement Cost = 175,607 630 Sq.Ft. of Sprinklers @ 8.79, Cost New = 5,538 Total Floor Area: 630 Base Cost New of Upper Floors = 170,069 Adjusted Square Foot Cost for Upper Floors = 269.95 (10) Heating system: Package Heating & Cooling Cost/SqFt: 35.63 100% Base Rate for Upper Floors = 234.32 Overall Building Height: 11 Stories: 1 Story Height: 11 Perimeter: 0 Class: C Quality: Average <<<<< Calculator Cost Computations >>>>> Costs are taken from the Medical - Office Buildings cost schedules. Cost Estimates for Commercial/Industrial Building/Section: 2 Built 2017 Replacement Cost/Floor Area= 241.04 Est. TCV/Floor Area= 378.67 ECF (2220 COMMERCIAL CDB GENERAL AREA) 2.123 => TCV of Bldg: 1 = 29,816,188 /CI1/SLAOG/PLA/4A 4.65 844 1.00 74 2,904 /CI16/YARI/PAV/FLAOCBGA 25.81 3611 1.00 74 68,968 /CI16/YARI/CHALF/04'/211 14.28 76 1.00 74 803 /CI16/YARI/MASW/8A 18.44 600 1.00 74 8,187 Parcel Number: 28-51-658-031-01 Page: 2
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Valuation Report DB: Tr2026 07/16/2026 01:36 PM *** Information herein deemed reliable but not guaranteed*** Parcel Number: 28-51-658-031-01, Commercial/Industrial Building