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Agent, Assessor Offer Divergent Market and Income Analyses for Warehouse on Monomoy (BOE No. 125)
Summary
An appeal for a warehouse property off Interstate 240 Service Road (BOE No. 125) centered on competing sales comparables, cost and income approaches; the board closed the hearing and will issue a decision Friday.
The board heard an appeal of a commercial equipment rental and storage warehouse (row number 140828535, BOE No. 125). The appellant’s agent presented three approaches — sales, cost and income — that clustered near $1.53 million and argued the market data and rent rolls supported a value just above $1.5 million. The assessor’s office reported using alternatives that yielded a…
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