Who did these appraisals? The values here make no sense.
Site A: ~1.25 acres & worth $3.25M
Site B: ~2.3 acres & worth $1.84M
Vestcor Lot: ~2.15 acres & worth $2.58M
Site A also has a lovely air restriction on it but is still valued at almost double per acre as two sites literally within a block of it with the same zoning, soils etc. Wild & explains some of the appraisals I've gotten here in Jax lmfao.
If anything like home appraisals, then it's highly subjective. Beauty/opportunity is in the eye of the beholder.
Land is appraised based on what can be reasonably built. Things like zoning, environmental, or other limiting factors are how you would differentiate between the appraisal value between two vacant land parcels.
These parcels are basically identical in every capacity with the exception of "some" interpretation as to one being a superior location than another but in the end this is all supposed to be on the same campus. But, parcel A also had some of the air rights restricted by the Skyway. Meaning that out of those 3 parcels, the highest appraised parcel per square foot has the least economical air rights of all three parcels. These air rights matter for any building 2+ stories so pretty relevant.
Just really doesn't pencil in any logical way unless there's like intense remediation needed on Site B & the Vestcor lot but not the Site A lot? That doesn't really add up either.
