HomeMy WebLinkAboutItem 7e. Authorization to Purchase and Sell Personal Property for the Mid-Higuera Bypass Project (CoastRiders Powersports) Item 7e
Department: Public Works
Cost Center: 5301
For Agenda of: 5/7/2024
Placement: Consent
Estimated Time: N/A
FROM: Matt Horn, Public Works Director
Prepared By: Noah Maidrand, Engineer II
SUBJECT: AUTHORIZATION TO PURCHASE AND SELL PERSONAL PROPERTY
FOR THE MID-HIGUERA BYPASS PROJECT
RECOMMENDATION
1. Authorize the Mayor to sign an agreement purchasing personal property associated
with the business relocation of CoastRiders Powersports for the Mid-Higuera Bypass
Project, as required by the California Government Code, and the re-sale of that
personal property back to CoastRiders Powersports at liquidation value for a total
payment price to CoastRiders Powersports of $50,717; and
2. Approve the designation of the remaining personal property valued greater than
$1,000 as surplus personal property in accordance with Section 480-A of the Financial
Management Manual.
POLICY CONTEXT
The City is obligated to provide relocation assistance to businesses displaced by the
City’s real property acquisition in accordance with Article 3 of the California Code of
Regulations, Title 25, Chapter 6 (additional requirements for compensation are listed in
Article 3 of the California Code of Civil Procedure §1263.210).
The City’s Financial Management Manual states that the sale of surplus personal property
with an estimated value greater than $1,000 must be approved by City Council. The
disposal of surplus personal property is also dictated by the Finan cial Management
Manual, which sets forth various disposal requirements, and is delegated to the
Department Head or the Director of Finance and Information Technology, depending on
the value of the item.
DISCUSSION
Background
The Mid-Higuera Bypass Project (“Project”) was identified in the Council adopted
Waterway Management Plan as a way to reduce flooding from San Luis Obispo Creek
along the Mid-Higuera Corridor. The Project will increase flood protection by removing
sediment from the creek, creating pathways for flood waters in the roadway to return to
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Item 7e
the creek, removing barriers within the creek channel, creating flood bypass channels
and graded benches for increased creek capacity, replacing the Bianchi Lane Bridge,
removing non-native vegetation, and replanting native trees and shrubs. This Project is
being completed in partnership with the Flood Control and Water Conservation District
Zone 9 County Advisory Committee.
This Project aims to reduce flooding potential caused by a major pinch point of San Luis
Obispo Creek where the flow is constricted by two buildings adjacent to the creek banks.
This pinch point will be mitigated by the planned demolition of the rear warehouse located
at 306 Higuera Street (APN 002-482-027). Staff have already procured the appropriate
easements to complete this work with the property owner in accordance with the authority
delegated by Council on July 19, 2022.
CoastRiders Powersports (CoastRiders) currently leases 306 Higuera Street and
operates an auto repair business. The property has a front building and a rear warehouse
which were both occupied by CoastRiders prior to the City’s acquisition of the rear
warehouse. The Project requires demolition of the rear warehouse. As a result of the
City’s easement acquisition, CoastRiders has opted to consolidate their business
operations into the front building on the property in lieu of relocating their business
entirely. Since the business was partially displaced by the City’s acquisition process, the
City is obligated to provide relocation assistance to CoastRiders . This relocation
assistance is required as a term of payment for the acquisition of real property rights and
is mandated by Article 3 of the California Code of Regulations, Title 25, Chapter 6.
As part of the relocation assistance, the City is obligated to provide financial
compensation for any improvements pertaining to realty that cannot be reasonably
relocated. In order to accurately quantify the improvements pertaining to realty, staff
received an appraisal of tenant owned Furniture, Fixtures, and Equipment (Attachment
A). While the City is obligated to pay fair market price for the valued improvements based
on article 3 of the California Code of Regulations, Title 25, Chapter 6, the tenant may be
allowed to buy some of the improvements back at liquidation value or less than what the
City paid for the items. This allows for the tenant to recover furniture, fixtures, or
equipment that can be moved from the premises after the City has purchased them in
accordance with California Code of regulations as well as allows the City to dispose of
personal property for which it has no need.
Staff have reached a tentative agreement (Attachment B) with CoastRiders titled
“Agreement to Acquire Improvements Pertaining to the Realty” which outlines the terms
of the sale and buy back of improvements pertaining to realty. This agreement contains
an outline of which improvements CoastRiders has opted to purchase back at liquidation
value, and sums the total value owed to CoastRiders at $50,717. An associated Bill of
Sale (Attachment C) has been prepared to detail the City’s purchase of and payment for
Improvements Pertaining to the Realty. Staff are requesting that Council approve this
Agreement to Acquire Improvements Pertaining to Realty (Attachment B) as it deviates
from the City’s Financial Management Manual, Section 480-A regarding the sale of
surplus personal property. Per the Financial Management Manual, Section 480-A the
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Item 7e
standard process would be to sell or dispose of surplus property at auction with a
contracted firm to assist in the sale of unique or special property. The firm would also help
dispose of any unsaleable property at an approved disposal site. Staff are recommending
the City approve the tentative agreement with CoastRiders instead of proceeding with an
auction of the surplus property. Staff are additionally requesting Council approve the
designation of the remaining personal property acquired (and not bought back by
CoastRiders) as “surplus personal property” in accordance with Section 480-A of the
Financial Management Manual. Staff will follow the procedures established in the
Financial Management Manual when disposing the remaining equipment.
Next Steps and Project Status
Following this action, staff will proceed with assessing the remaining fixtures and
equipment procured from CoastRiders to determine if there is any value to the City. Staff
will then proceed with distributing or disposing of these fixtures and equipment in
accordance with Section 480-A of the Financial Management Manual.
The Mid-Higuera Bypass Project is currently in the final stages of the design process,
anticipating the completion of final plans by July of this year. Staff plan to advertise the
project by September and award a construction contract by December. The start of
construction is anticipated in February of 2025, and continue into early 2026.
Previous Council or Advisory Body Action
July 19, 2022 – Staff met with Council in Closed Session and were authorized to begin
negotiations to acquire property easements associated with the Mid-Higuera Bypass
Project at 306 Higuera Street.
October 17, 2023 – Staff met with Council in Closed Session and were authorized to
continue easement negotiations, including relocation terms with CoastRiders
Powersports.
CONCURRENCE
The recommendations presented in the report have been reviewed and approved by the
City Attorney’s office.
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Design
Easement Acquisition
Complete Final PSE
Advertise and Award
Construction
Project Closeout
2026
Mid-Higuera Bypass Current Schedule
2024 2025
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Item 7e
ENVIRONMENTAL REVIEW
The Mid-Higuera Bypass project will be constructed in accordance with the Supplemental
Environmental Impact Report (SEIR) and the associated mitigation measures. On August
21, 2018, San Luis Obispo County Board of Supervisors certified the SEIR. SEIR State
Clearinghouse Number is SCH2016021077.
FISCAL IMPACT
Budgeted: Yes Budget Year: 2024-25
Funding Identified: Yes
Fiscal Analysis:
Funding Sources Total Budget
Available
Current
Funding
Request
Remaining
Balance
Annual
Ongoing
Cost
General Fund
(Capital Outlay Fund
- LRM)
$621,612.49 $50,717 $570,895.49 $0
State Grant Funding $6,079,000 $0 $6,079,000 $0
County Zone 9
Funding
$1,124,118.30 $0 $1,124,118.30 $0
Water Fund $100,000 $0 $100,000 $0
Total $7,924,730.79 $50,717 $7,874,013.79 $0
The total cost of the improvements pertaining to realty of $50,717 is within the total
available budget for the Mid-Higuera Bypass Project, 2090649. The remaining funds in
the project account will be used to procure the remaining easements needed for
construction, complete utility relocation work, procure construction management and
environmental monitoring services, and complete construction. Additional Capital Outlay
Funds and County Zone 9 Funds are budgeted for the 2024/25 Fiscal Year and will be
used to supplement the existing available budget.
ALTERNATIVES
Deny Authorization to buy and sell back personal property. Council could decide not
to approve the agreement with CoastRiders to buy and sell back improvements pertaining
to realty. This action is not recommended as the City is obligated to provide compensation
for improvements pertaining to realty to displaced persons and businesses .
ATTACHMENTS
A - CoastRiders Powersports Furniture, Fixtures, and Equipment Appraisal Report
B - CoastRiders Agreement to Acquire Improvements Pertaining to the Realty
C - CoastRiders Bill of Sale
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APPRAISAL REPORT REGARDING THE
IMPROVEMENTS PERTAINING TO THE REALTY
AND MOVABLE EQUIPMENT
OF
COASTRIDERS POWERSPORTS
LOCATED AT
306 HIGUERA STREET
SAN LUIS OBISPO, CALIFORNIA
PREPARED FOR THE
CITY OF CITY OF SAN LUIS OBISPO
Effective Date of Value
April 24, 2023
Prepared By
DESMOND, MARCELLO & AMSTER
222 Pacific Coast Highway, 10th Floor
El Segundo, California 90245
44 Montgomery Street, Suite 300
San Francisco, CA 94104
Tel. (310) 216-1400
www.dmavalue.com
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May 26, 2023
Ms. Lillian Jewell
Managing senior Associate
Hamner, Jewell & Associates
530 Paulding Circle, Suite A
Arroyo Grande, CA 93420
Re: Appraisal Report of Improvements Pertaining to the Realty and Movable Equipment of
Coastriders Powersports
Located at 306 Higuera Street, San Luis Obispo, California
Prepared for the City of San Luis Obispo
Dear Ms. Jewell:
As you requested, Desmond, Marcello & Amster (“DM&A”) has made an investigation and analysis of
the improvements pertaining to the realty and movable equipment of a business known as Coastriders
Powersports located at 306 Higuera Street, San Luis Obispo, California.
The effective date of value utilized herein is April 24, 2023.
The purpose of this appraisal is to provide an estimate of the replacement cost new, fair market value in
place, and forced liquidation value of the items appraised.
The intended use or function of this appraisal is to assist the City of Fresno in determining compensation
to the owner as a result of the potential partial acquisition of the subject property by the City of San Luis
Obispo.
Definitions of and compensation for improvements pertaining to the realty are included under Article 3 of
the California Code of Civil Procedure, §1263.205 and §1263.210, respectively. Compensation for losses
in connection with tangible personal property is included under §6090 and §6092 of the California
Administrative Code, Title 25, Chapter 6. A further discussion of these sections is included in the body
of the report.
Desmond, Marcello & Amster, LLC
Valuation and Litigation Consultants
222 Pacific Coast Hwy, 10th Floor
El Segundo, CA 90245
44 Montgomery Street, Suite 300
San Francisco, CA 94104
www.dmavalue.com
Tel: (310) 216-1400
Page 178 of 270
Ms. Lillian Jewell
May 26, 2023
Page Two
Based upon our investigation and analysis, and in reliance upon the information provided, a summary of
the appraised values of the property considered as of April 24, 2023, is as follows:
Replacement
Cost New
Fair Market
Value
In Place
Forced
Liquidation
Value
Improvements Pertaining to the Realty –
Located in Acquisition Area (Coastriders)
Improvements Pertaining to the Realty –
Located in Remainder (Landlord)
Improvements Pertaining to the Realty –
Located in Remainder (Coastriders)
$25,795
$5,450
$28,570
$19,820
$3,720
$22,350
$540
$0
$1,335
Movable Equipment –
Located in Acquisition Area
Movable Equipment –
Located in Remainder
$103,040
$50,730
$35,855
$17,440
$10,285
$5,100
The opinions of value are presented in the Summary and Conclusions section and are contingent upon the
analysis, facts and Appraiser Certification and Limiting Conditions set forth in the accompanying report.
Respectfully submitted,
Desmond, Marcello & Amster
DESMOND, MARCELLO & AMSTER
MP
G:\users\F & E\San Luis Obispo\Report Folder\Appraisal Report - Powersports Coastriders.docx
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TABLE OF CONTENTS
Page
LETTER OF TRANSMITTAL
APPRAISER CERTIFICATION
PROPERTY APPRAISED 1
PURPOSE AND INTENDED USE 1
VALUE DATE/REPORT DATE 1
DEFINITION OF IMPROVEMENTS PERTAINING TO THE REALTY 1
COMPENSATION FOR IMPROVEMENTS PERTAINING TO THE REALTY 1
COMPENSATION FOR MOVABLE EQUIPMENT 2
APPRAISAL DEFINITIONS 2
DESCRIPTION OF THE BUSINESS 3
DESCRIPTION OF THE ASSETS APPRAISED 3
APPRAISAL PROCESS 4
SUMMARY AND CONCLUSIONS 7
ADDENDA
IMPROVEMENTS PERTAINING TO THE REALTY
MOVABLE EQUIPMENT
SUBJECT PHOTOGRAPHS
CONTINGENT AND LIMITING CONDITIONS
CURRICULUM VITAE
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APPRAISER CERTIFICATION
I certify that, to the best of my knowledge and belief:
• the statements of fact contained in this report are true and correct.
• I performed no services, as an appraiser or in any other capacity, regarding the property that
is the subject of this report within the three-year period immediately preceding acceptance of
this assignment.
• the reported analyses, opinions and conclusions are limited only by the reported assumptions
and limiting conditions, and are my personal, impartial, and unbiased professional analyses,
opinions, and conclusions.
• I have no present or prospective interest in the property that is the subject of this report, and
no personal interest with respect to the parties involved.
• my engagement in this assignment was not contingent upon developing or reporting
predetermined results.
• I have no bias with respect to any property that is the subject of this report or to the parties
involved with this assignment.
• my compensation for completing this assignment is not contingent upon the development or
reporting of a predetermined value or direction in value that favors the cause of the client,
the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of the appraisal.
• my analyses, opinions and conclusions were developed, and this report has been prepared, in
conformity with the Uniform Standards of Professional Appraisal Practice of The Appraisal
Foundation and the Principles of Appraisal Practice and Code of Ethics of the American
Society of Appraisers.
• I made a personal inspection of the property that is the subject of this report.
• Raul Bermudez provided significant personal property appraisal assistance to the person
signing this certificate.
Dated: May 26, 2023
Marcus Pigrom, ASA
Partner
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1
APPRAISAL REPORT
PROPERTY APPRAISED
For the purposes of this report, we have prepared an inventory and valuation of certain
improvements pertaining to the realty and major movable equipment located at the subject
property.
The items appraised have been valued assuming a 100% ownership interest without consideration
for any encumbrances against the property appraised.
PURPOSE AND INTENDED USE
The purpose of this appraisal is to set forth our opinion of the replacement cost new, fair market
value in place, and forced liquidation value of certain improvements pertaining to the realty and
movable equipment together with our rationale and reasoning in estimating the value of the
subject assets appraised.
It is the intended use or function of this appraisal to provide the City of San Luis Obispo and its
representatives with information to assist in the potential acquisition of the property for the
potential partial acquisition of the property by the City of San Luis Obispo.
VALUE DATE/REPORT DATE
The effective date of value utilized in this report, April 24, 2023, corresponds to the completion
of our field investigation. The report date on the accompanying letter corresponds to the final date
of report preparation.
DEFINITION OF IMPROVEMENTS PERTAINING TO THE REALTY
Article 3 of the California Code of Civil Procedure, §1263.205 reads as follows:
(a) As used in this article, “improvements pertaining to the realty” include any machinery or
equipment installed for use on property taken by eminent domain, or on the remainder if
such property is part of a larger parcel, that cannot be removed without a substantial
economic loss or without substantial damage to the property on which it is installed,
regardless of the method of installation.
(b) In determining whether a particular property can be removed “without a substantial
economic loss” within the meaning of this section, the value of the property in place
considered as part of the realty should be compared with its value if it were removed and
sold.
COMPENSATION FOR IMPROVEMENTS PERTAINING TO THE REALTY
Article 3 of the California Code of Civil Procedure §1263.210 provides for compensation for
improvements pertaining to the realty as follows:
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2
(a) Except as otherwise provided by statute, all improvements pertaining to the realty shall
be taken into account in determining compensation.
(b) Subdivision (a) applies notwithstanding the right or obligation of a tenant, as against the
owner of any other interest in real property, to remove such improvements at the
expiration of his term.
COMPENSATION FOR MOVABLE EQUIPMENT
Article 3 of the California Code of Regulations, Title 25, Chapter 6, provides for Relocation
Payments to Displaced Persons. The following sections are pertinent.
§6090(b)(5) Actual Reasonable Moving Expenses – Displaced Business Concerns and
Farm Operations: Where an item of personal property which is used in connection with
any business or farm operation is not moved but is replaced with a comparable item,
reimbursement in an amount not to exceed (1) the replacement cost, minus any net
proceeds received from its sale, or (2) the estimated cost of moving, whichever is less.
§6092(b) Determining Actual Direct Loss of Property. Actual direct loss of property
shall be determined on the basis of the lesser of the following:
(1) The fair market value of the property for continued use at its location prior to
displacement.
(2) The estimated reasonable cost of relocating the property.
APPRAISAL DEFINITIONS
Replacement Cost New
The current cost of a similar new property having the nearest equivalent utility as the property
being appraised, as of a specific date. [Source: American Society of Appraisers, Principles of
Valuation]
Depreciation
A loss in value from all causes, including factors of deterioration and functional and/or economic
obsolescence, as of a specific date. [Source: American Society of Appraisers, Principles of
Valuation]
Fair Market Value in Place
In estimating the market value of improvements pertaining to the realty and movable equipment,
we have relied upon the definition of fair market value found in Article 4, §1263.320 of the
California Code of Civil Procedure, which reads as follows:
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3
(a) The fair market value of the property taken is the highest price on the date of valuation
that would be agreed to by a seller, being willing to sell but under no particular or urgent
necessity for so doing, nor obliged to sell, and a buyer, being ready, willing, and able to
buy but under no particular necessity for so doing, each dealing with the other with full
knowledge of all the uses and purposes for which the property is reasonably adaptable
and available.
(b) The fair market value of property taken for which there is no relevant, comparable market
is its value on the date of valuation as determined by any method of valuation that is just
and equitable.
In estimating the fair market value in place, additional costs may be incurred to place the asset in
service including installation, freight, sales tax, design, and other acquisition costs.
Forced Liquidation Value
The estimated gross amount, expressed in terms of money, that could typically be realized from a
properly advertised and conducted public auction, with the seller being compelled to sell with a
sense of immediacy on an as-is, where-is basis, as of a specific date. [Source: American Society
of Appraisers, Valuing Machinery and Equipment]
Effective Age
The apparent age of an asset in comparison with a new asset of like kind. It is often calculated by
deducting the Remaining Useful Life of an asset from the Normal Useful Life. [Source:
American Society of Appraisers, Principles of Valuation]
Estimated Remaining Life
The period over which an item, or groups of items are estimated to remain in use. [Source:
American Society of Appraisers, Principles of Valuation]
As Is Value
As is consideration is given in lieu of Replacement Cost New on those items where a reasonable,
accurate or comparable new cost is indeterminate or misleading.
DESCRIPTION OF THE BUSINESS
Coastriders Powersports is a motorcycle/scooter sales and services business located at 306
Higuera, San Luis Obispo, California. The business moved to the subject location in 2017 and is
owned by Gary White. The business leases the real property.
DESCRIPTION OF THE ASSETS APPRAISED
Major improvements pertaining to the realty consist of signage, surveillance cameras, slatwall,
built-in cabinetry, supplemental electrical, LED light fixtures, compressed air piping, installation
of an above ground lift and alarm systems.
Major items of movable equipment consist of retail displays, office equipment and motorcycle
repair equipment.
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Highest and Best Use
It is our opinion that the equipment is currently being used in a capacity for which it was
designed, and the highest and best use is the continuation of its present use.
Industry
Most of the equipment is the current state of the art and can usually be acquired in the secondary
marketplace through used equipment dealers.
APPRAISAL PROCESS
Introduction
The appraisal process consists of three phases. These are: 1) identification, inspection and
recording of data; 2) research; and 3) valuation analysis resulting in a conclusion of replacement
cost new, fair market value in place, and forced liquidation value.
Identification, Inspection and Recording of Data
The assets valued were first identified by Gary White, the business owner, and subsequently
inspected and recorded by the appraiser. The recording included a full description of each asset
including, when available, the manufacturer, model, serial number, size and condition of the
asset, and any other information that would assist us in the subsequent valuation. The level of
maintenance was observed as well as the method of installation.
A complete listing of the business assets appraised, together with the quantity, replacement cost
new, fair market value in place, and forced liquidation value, is included in the Addenda of this
report. Dimensions of assets are described in the Addenda in the following manner:
• Three-dimensional assets: width (or length) x height x depth
• Two-dimensional assets: width (or length) x depth (or height)
Research
DM&A has relied upon many sources of information, including, but not limited to, the following:
• An inspection of the subject site;
• A subsequent identification and inventory of the improvements and equipment;
• Review of cost and market data on file in the DM&A library;
• Supporting documentation retained in DM&A work files;
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5
• Communications with and information on file from various individuals and/or companies
knowledgeable of the type of assets appraised. They include, but are not limited to, the
following:
- YWD Contracting
- ADT Security
- McNamara Electric;
• Various publications and websites providing replacement cost new, including, but not
limited to:
- Marshall Valuation Service
- walmart.com
- target.com
- amazon.com
- harborfreight.com
- homedepot.com
- netgear.com
- hdsupply.com
- webstaurantstore.com
- lowes.com
- grainger.com
- globalindustrial.com
- zoro.com
- vevor.com
- bendpak.com
- staples.com
- hdsupplysolutions.com
- mactools.com
- uline.com
- handyindustries.com
- bestbuy.com
- discountramp.com
- revzilla.com
- thecarlsoncompany.com
- eastwood.com
- eautotools.com
- nationalbusinessfurniture.com
- batteriesplus.com
- batterymart.com
- vpstirerepair.com
- derekweaver.com
- redlinestands.com
- officedepot.com
- machinesales.com
- shoppok.com
- tiresupplynetwork.com
- displays2go.com
- eventstable.com
- costlesswholesale.com
- livingspaces.com
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- mottobatt.us.com.com
- noco.com
- nationwidesecurity.com
- deansafe.com
- posglobal.com
- cctvsecuritypros.com
- townsmarttrailers.com and;
• Various publications and websites providing secondary market data, including:
- ebay.com
- machinerytrader.com
- usedprice.com.
Valuation Analysis
Fair Market Value (in Place)
Fair market value in place represents the investment that would be required to replace existing
assets in their present form and condition using valuation methodology, which considers the
manner in which the equipment is acquired and put in use when a total business is being created
or relocated. In other words, fair market value in place is the value of an asset, designed to fit the
specific requirement of the business owner, in an amount which ownership would be justified,
given alternative investment opportunities, by a prudent investor contemplating retention of the
asset in its present economic employment.
There are three fundamental techniques applied in the valuation of assets. These techniques are
based on the cost to acquire (Cost Approach), the cost at which an asset may change hands in the
marketplace (Market Data or Direct Sales Comparison Approach) and the present worth of
expected future cash flows (Income Approach). The principle of substitution is important to the
development and application of the three approaches.1 This principle provides that a prudent
investor will pay no more for an asset, property, or business than he would be required to pay for
a replacement serving as a reasonable substitute of equal utility.
This appraisal has relied upon the Cost Approach and Market Data Approach methodologies.
The Cost Approach uses the concept of replacement based on the principle of substitution.
Replacement cost new is used as a basis for the valuation of the assets. The Market Data
Approach uses the concept of cost at which an asset may change hands between a willing buyer
and willing seller. The Income Approach was considered; however, there is insufficient financial
data available to determine the income attributable to each of the assets appraised.
Fair market value in place is developed in two phases. The first phase is development of the base
acquisition value of an asset, and the second phase is estimating the cost/value associated with the
assembly, installation, or construction of that asset. The total value developed in the two phases
is considered fair market value in place.
The acquisition cost of an asset may be represented by the cost of purchasing the item from a
used equipment dealer when the Market Data Approach is used, or the cost of purchasing from a
vendor of new machinery when the Cost Approach is used. In both cases, additional costs
1 “The Principle of Substitution” Real Estate Appraisal Terminology, Byrl N. Boyce, Ph. D., Page 201
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7
incurred to place the asset in service as part of an integrated operation may be given consideration
in estimating fair market value in place.
In utilizing the Cost Approach, the fair market value in place of the equipment was based on its
estimated replacement cost new less depreciation. Depreciation is based on effective age,
remaining economic life, observed physical condition and economic and functional obsolescence.
Current replacement cost for similar or equivalent units and installations were developed by
contacting manufacturers’ representatives and the utilization of the DM&A reference library.
When necessary, these costs were adjusted through industry-accepted practices to reflect the costs
of these assets as of April 24, 2023.
In estimating the fair market value in place, we have not given consideration to the economic
viability of the business and our conclusion assumes that the income supports the valuation.
Forced Liquidation Value
Forced liquidation values are based on market data on file, including conversations with used
equipment vendors and dealers, as well as observations of auction results for the same or similar
equipment.
SUMMARY AND CONCLUSIONS
Improvements Pertaining to the Realty - Located in Acquisition Area (Coastriders)
The application of the Cost Approach provides an indication of value. Based upon the
application of this approach to the various assets, our opinion of the replacement cost new, fair
market value in place, and forced liquidation value as of April 24, 2023, is as follows:
Replacement Cost New $25,795
Fair Market Value in Place $19,820
Forced Liquidation Value $540
Improvements Pertaining to the Realty - Located in Remainder (Landlord)
The application of the Cost Approach provides an indication of value. Based upon the
application of this approach to the various assets, our opinion of the replacement cost new, fair
market value in place, and forced liquidation value as of April 24, 2023, is as follows:
Replacement Cost New $5,450
Fair Market Value in Place $3,720
Forced Liquidation Value $0
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Improvements Pertaining to the Realty - Located in Remainder (Coastriders)
The application of the Cost Approach provides an indication of value. Based upon the
application of this approach to the various assets, our opinion of the replacement cost new, fair
market value in place, and forced liquidation value as of April 24, 2023, is as follows:
Replacement Cost New $28,570
Fair Market Value in Place $22,350
Forced Liquidation Value $1,335
Movable Equipment – Located in Acquisition Area
The application of the Cost and Market Data Approaches provides an indication of value. Based
upon the application of these approaches to the various assets, our opinion of the replacement cost
new, fair market value in place, and forced liquidation value as of April 24, 2023, is as follows:
Replacement Cost New $103,040
Fair Market Value in Place $35,855
Forced Liquidation Value $10,285
Movable Equipment – Located in Remainder
The application of the Cost and Market Data Approaches provides an indication of value. Based
upon the application of these approaches to the various assets, our opinion of the replacement cost
new, fair market value in place, and forced liquidation value as of April 24, 2023, is as follows:
Replacement Cost New $50,730
Fair Market Value in Place $17,440
Forced Liquidation Value $5,100
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A D D E N D A
Page 190 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair Market
Value in
Place
Forced
Liquidation
Value
1 1 $320 $240 $15
2 3 1,050 790 45
3 1 200 150 10
4 16 1,800 1,250 60
5 1 2,125 1,600 0
1 Control pad
1 Code pad
4 Motion sensors
3 Door contacts
2 Roll-up door contacts
6 1 1,250 950 0
7 13 2,925 2,350 260
11 4' wide, dual
2 8' wide dual
8 1 3,400 2,725 0
9 205 3,050 2,300 150
10 8 5,750 4,315 0
COASTRIDERS POWERSPORTS
IMPROVEMENTS PERTAINING TO THE REALTY - ACQUISITION AREA
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
Supplemental electrical power outlets, 7- 120V,
including conduit runs and 1- 240V outlet, including
Linear feet (estimate) of compressed air piping, 3/4"
PVC, wall-mounted, including quick connects
Lot of installation, setup and electrical connection for 2
post lifts, including pneumatic connection and floor
bolting on 2- 3' x 3' x 3' foundations, concrete
Surveillance cameras, 1- exterior, 2- interior, including
wall mounts and cabling
Yard area floodlight, LED, 3-head, motion activated,
electrical
LED ceiling strip lights, electrical, ceiling suspended,
consisting of:
Lot of electrical connection for air compressor, including
240V outlet, conduit run and breaker
Alarm system, consisting of:
Linear feet of ceiling track lighting, with 12 adjustable
spotlights
WiFi bridge antenna, manufacturer and model no. not
available, metal, wall-mounted
1 Page 191 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
IMPROVEMENTS PERTAINING TO THE REALTY - ACQUISITION AREA
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
11 655 3,925 3,150 0
$25,795 $19,820 $540TO THE REALTY -ACQUISITION AREA
TOTAL IMPROVEMENTS PERTAINING
Square feet of floating concrete floor covering, 0" to 3"
high
2 Page 192 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair Market
Value in
Place
Forced
Liquidation
Value
12 1 $4,500 $3,150 $0
13 1 950 570 0
$5,450 $3,720 $0
TOTAL IMPROVEMENTS PERTAINING
TO THE REALTY - REMAINDER - LANDLORD
REPORTEDLY OWNED BY THE LANDLORD
COASTRIDERS POWERSPORTS
IMPROVEMENTS PERTAINING TO THE REALTY - REMAINDER
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
Storage deck, 34' long x 5' deep, wood framing, plywood
deck, ceiling supports
Utility sink, 42" x 24", wood base, metal top, single
nozzle, plumbing
3 Page 193 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair Market
Value in
Place
Forced
Liquidation
Value
14 1 $5,200 $3,900 $0
15 2 2,600 2,075 200
16 1 4,675 3,975 300
17 11 1,325 1,060 220
18 283 1,700 1,350 150
19 1 2,400 1,925 0
1 Control panel
1 Code pad
5 Motion sensors
2 Door contacts
2 Window contacts
1 Glass break detector
2 Roll-up door contacts
20 4 1,400 1,050 60
21 108 650 520 0
22 3 840 630 0
23 24 3,225 2,425 250
Ceiling lights, 4' x 2', dual fluorescent, plastic facia,
electrical
COASTRIDERS POWERSPORTS
IMPROVEMENTS PERTAINING TO THE REALTY - REMAINDER
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
Sign cabinet, 4' x 6', metal cabinet, single-sided metal
facia, vinyl letters, "CoastRiders Powersports/ Sales &
Service", wall-mounted
Signs, 8' x 4', sheet metal, vinyl letters, "CoastRiders
Powersports/ Motorcycles/ ATVs/ PWCs/ Sales &
Service, etc.", wall-mounted
Sliding glass front door, 10' x 8' overall, 2 sliders, 31"
wide, with 2 full view windows
LED light fixtures, 4' wide, dual, ceiling suspended,
electrical
Square feet of slat wall, laminate, wall bolted, white
melamine finish
Alarm system, Gemini, consisting of:
Surveillance camera, manufacturer and model no. not
available, including wall mounts and cabling
Square feet of slat wall, laminate, grey melamine finish,
4' high, wall bolted
Linear feet of built-in parts shelving, 7' high x 9" deep,
laminate, 5- to 9- adjustable tiers, wall bolted, custom fit
4 Page 194 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
IMPROVEMENTS PERTAINING TO THE REALTY - REMAINDER
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
24 20 1,400 1,050 0
25 2 1,000 800 0
26 4 1,000 750 100
27 3 525 390 45
28 1 430 300 0
29 1 200 150 10
$28,570 $22,350 $1,335
Linear feet of storage decking, 6.5' high x 2' deep, wood
framing and construction, 3 plywood decks, painted
Supplemental electrical outlets, quad, 120V, including
conduit
Wall cabinets, 23" x 30" x 15", laminate, single door
Open wall cabinets, 24" x 24" x 12", laminate, multiple
tiers
Chain link security window, 76" x 42", wood frame
WiFi bridge antenna, manufacturer and model no. not
available, including wall mount and cabling
TOTAL IMPROVEMENTS PERTAINING
TO THE REALTY - REMAINDER
5 Page 195 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
30 1 $385 $135 $40
31 2 385 135 40
32 2 215 75 20
33 1 130 45 15
34 2 80 30 10
35 1 2,775 970 280
36 1 220 75 20
37 1 400 140 40
38 1 155 55 15
39 1 620 215 60
40 2 1,200 420 120
41 1 65 25 5
42 5 275 95 30
43 12 860 300 85
44 1 50 20 5
45 1 6,400 2,550 640
46 1 145 50 15
47 1 55 20 5
COASTRIDERS POWERSPORTS
Folding stepstool, metal, 2 plastic steps
Workbenches, 10' x 24", metal, 2 wood plank decks
Shelf, 33" x 38" x 13", plastic, 2-tier
Small parts/ bins cabinets, sizes vary, 30- to 50-drawer
LED strip lights, 4' wide dual
MOVABLE EQUIPMENT - ACQUISITION AREA
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
Power washer, Greenworks Pro, 3,000 PSI max.
Spill pallets, Eagle, 52" x 6" x 27", plastic
Equipment cart, 30" x 23", tubular metal
Small parts cleaner, Smart Washer, Model no.: 28-1, 48" x 40" x
36", plastic, electric
Above-ground lift, Bend Pak, Model no.: XPR-10A-LP, 10,000 lb.
capacity, 10' x 12'
Auto creeper, Mac, wood, vinyl padded seat
Electrical cord wheel, 9" diameter
Drum pumps, manual, rotary type
Fire extinguisher, Sentry, 10 lb.
Parking cones, Bent Manufacturing, 48" high
Gas caddy/ walker, 25 gallon, plastic
Cart, 24" x 18", plastic, 2-tier
Storage cabinet, 3' x 78" x 24", metal, 2-door
6 Page 196 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - ACQUISITION AREA
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
48 2 185 65 20
49 1 240 85 25
50 1 175 60 20
51 1 70 25 5
52 1 130 45 15
53 1 110 40 10
54 1 110 40 10
55 1 255 90 25
56 1 175 60 20
57 1 1,875 660 190
58 2 1,550 545 155
59 1 990 250 100
60 1 40 15 5
61 1 880 310 90
62 1 45 15 5
63 1 120 40 10
64 1 50 20 5Oscillating desk fan, FM, 18"
Bench vise, Larin, 5" wide
Workbenches, 10' x 24", wood, 1 under tier, galvanized metal top,
Mak, 1- with bench grinder, Ryobi, 6"
Computer, Del, Model no.: OptiPlex 790, with monitor, 23",
keyboard and mouse
Stool wood
Toolbox, U.S. General, 26" x 40" x 23", metal, 8-drawer, 1 side
cabinet, 15", 7-drawer, 1 top cabinet, 26" high, 8-drawer, 1 top door
Wall shelf, 3' x 40" x 8", laminate, 2-tier
Shelf, 76" x 6' x 18", metal, 3 plywood decks
Shelf, 4' x 7' x 24", boltless metal, 4 plywood decks
Commercial fan, Central Machinery, 30" diameter
Motorcycle lift, Handy, S.A.M., 1,000 air lift, 24" wide, pneumatic
Toolboxes, Craftsman, 41" wide x 41" high, metal, 14-drawer, with
upper cabinet, 19" high
Tool cabinet, Craftsman, 27" x 39" x 18", metal, 9-drawer, with
upper cabinet, 18" high
Air hose reel, 16" diameter, metal
Folding stepstool, Cosco, metal
Floor fan, Patton, 18" diameter
Car jack, Pittsburgh, 1.5 ton
7 Page 197 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - ACQUISITION AREA
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
65 1 165 60 15
66 1 385 135 40
67 1 315 110 30
68 1 1,275 445 130
69 1 210 75 20
70 2 155 55 15
71 1 275 95 30
72 1 305 105 30
73 2 165 60 15
74 1 590 205 60
75 1 990 250 100
76 1 900 315 90
77 1 60 20 5
78 2 4,400 1,540 440
79 3 80 30 10
80 1 290 100 30
81 1 315 110 30
Mini-refrigerator, Frigidaire, 2 cubic feet
Microwave, Insignia
Pedestal vise, 5", metal base/ stand
Dual grinder, Motion Pro, 6", with stand
Wall shelves, 16" x 7' x 9', laminate, 2- to 3-tier
Shelf, 77" x 6' x 18", metal, 3 plywood decks
Motorcycle lift, PBI Sprockets, model no. not available, 7' x 4',
hydraulic
Jack, Drag Specialties, 16" x 9", metal
Work light heads, 8" x 8"
Motorcycle lifts, Handy, Model no.: 2031, 80" x 4', metal
Box fan, Lasko, 2' x 2'
Workbench, 15.5' x 24", wood base, single under tier, galvanized
metal top
Computer, Dell, Model no.: OptiPlex 7010, with monitor, keyboard
and mouse
Workbench, 8' x 26", wood base, 2 under tiers, galvanized metal top,
with work vise, 6"
Fire extinguishers, 10 lb.
Tool cabinet, Craftsman, 27" wide, metal, 5-drawer, 1 top cabinet,
12" high, 2-drawer
Pedestal fan, manufacturer not available, Model no.: LF-30PBC, 30"
8 Page 198 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - ACQUISITION AREA
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
82 1 4,100 1,425 410
83 1 1,075 375 110
84 1 400 140 40
85 1 195 70 20
86 1 330 85 35
87 1 70 25 5
88 1 870 305 85
89 1 75 25 10
90 1 100 35 10
91 1 680 240 70
92 1 360 125 35
93 1 210 75 20
94 1 270 95 25
95 2 6,000 2,100 600
1 K&L, Model no.: MC625R
1 Manufacturer and model no. not available, 7' x 2'
96 2 100 35 10
97 2 460 160 45
98 1 165 60 15
Shelf, 19' x 7' x 26", welded metal, 3 plywood decks
Work table, 6' x 30", metal
Tool cart, 28" x 30" x 14", metal, 2-drawer, 1 lower door
Printer, Brother, Model no.: HL-L6200DW
Portable charger, Centech, 3-n-1
Electrical reel, Grayco, Model no.: 801
Fire extinguisher, 10 lb.
Shelf, 3' x 7" x 8", laminate, 8-tier
Sandblaster cabinet, manufacturer and model no. not available, 26"
x 30" x 18", metal
Workbench, 61" x 28", wood base, 2-drawer, metal top, 1 vise, 6"
Shelf, 17" x 7' x 8", laminate, 6-tier
Welder, Miller, Model no.: Millermatic 185
Shelf, 4' x 6' x 2', boltless metal, 5-tier
Motorcycle lifts, hydraulic, consisting of:
Box fans, 24" x 24"
Floor jacks, manufacturer and model no. not available, 3-ton
(estimate)
Hand truck, metal
9 Page 199 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - ACQUISITION AREA
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
99 5 1,100 385 110
100 1 275 95 30
101 1 65 25 5
102 1 6,600 2,300 660
103 1 290 100 30
104 6 385 135 40
105 1 600 210 60
106 1 135 45 15
107 1 55 20 5
108 1 125 45 15
109 1 4,625 1,625 465
110 1 1,875 660 190
111 1 275 95 30
112 1 6,100 2,135 610
113 1 210 75 20
114 1 225 80 25
115 1 255 90 25
116 3 680 240 70
Tire rack, 55" x 24" x 15", tubular metal, single tier
Shop vac, 16 gallon, 5.5 HP
Shelves, 3' x7' x 12", metal, 5-tier
Tire changer, Hofman, Model no.: Monty 1520
Wheel balancer, Weaver, Model no.: W-957-40, 2020, digital
display
Shop press, Central Hydraulics, 20-ton, Sku no.: 32879
Tire changer, K&L, Model no.: MC900
Shelf, 77" x 79" x 9", laminate, 7-tier
Mini battery chargers/ jumpers
Battery charger, Die Hard, Model no.: Gold 6V/ 12V
Charger/ tester, Motobatt, Part: MBT
Wheel balancer/ truing stand, Bike Master
Shelves, 4' x 6' x 18", tubular metal, 4 metal wire tiers
Yard blower, Echo, Model no.: PB-231LN
Battery charger, Battery Tender Plus, 12V
Ultrasonic cleaner, Omegasonics, 20" x 16" x 12", stainless steel,
with wood stand
Microprocessor controlled automatic battery charger, Battery
Tender, 4-station
Work desk, 69" x 30", laminate, 2 lower doors, 2-drawer, upper
hutch, 6" deep
10 Page 200 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - ACQUISITION AREA
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
117 1 365 130 35
118 1 220 75 20
119 1 1,500 220 65
120 1 75 25 10
121 2 690 240 70
122 1 1,000 350 100
123 1 110 40 10
124 4 205 70 20
125 1 6,000 2,100 630
126 1 85 30 10
127 2 330 115 35
128 6 860 300 85
129 2 90 30 10
130 2 40 15 5
131 1 440 155 45
132 1 820 285 80
133 10 1,425 500 145
134 1 255 90 25
135 1 185 65 20
136 1 1,950 680 195
Gas cans, plastic, 5 gallon
Motorcycle wheel balancer, Snap-On, Model no.: WBM200
Floor dolly, 4' x 4', metal, star-shaped, casters
Hand trucks, metal, heavy duty
Motorcycle wheel dollies, Pittsburgh, 1,000 lb. capacity, 16" x 12"
Drill press, King, Model no.: KSD-340M, 1985
Fire extinguisher, 10 lb.
Extension ladders, 1- 20' high, 1- 24' high, metal
Lot of minor miscellaneous items, in storage, not in use
Mop bucket, plastic, with mop squeeze
Shelf, 7' x 7' x 2', metal, 3 metal wire tiers
Motorcycle lift, Central Hydraulics, 4.5" to 16"
Motorcycle dollies, sizes vary, tubular metal, manual
Shelf, 4' x 6' x 2', boltless metal, 5-tier
Stepladder, Werner, 8' high, metal
Heavy duty rack, 8.5' x 6.5' x 3', metal, 3-tier
Wheel dollies, 24" x 12", wood construction, carpet covering
Gas cans, 19-liter, plastic
Shelving unit, 7.5' x 6.5' x 26", wood construction, 2 plywood decks
Work table, 8' x 2', tubular metal frame, wood top, casters
11 Page 201 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - ACQUISITION AREA
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
137 1 7,480 2,620 750
138 1 115 40 10
139 1 2,275 800 230
140 1 600 210 60
141 1 460 160 45
142 1 155 55 15
143 1 290 100 30
144 1 430 150 45
145 1 600 210 60
146 1 670 235 65
147 1 770 270 75
148 2 610 215 60
149 1 120 40 10
150 1 195 70 20
$103,040 $35,855 $10,285TOTAL MOVABLE EQUIPMENT - ACQUISITION AREA
Pallet rack, 10.5' x 9' x 44", metal, 2 plywood decks
Belt sander, Craftsman, 2.5", 1 HP
Oil funnel drain tank/ cart, Pittsburgh, 20 gallon, metal
Oxy-acetylene torch kit, including cart, tanks and gauges
Portable cooler, Luma, Model: Comfort, 26" x 41" x 17", plastic
Storage cabinet, 36" x 42" x 24", metal, 2-door
Workstation, Craftsman, 54" x 33" x 20", metal, 5 lower drawers,
18" wide, 1 lower door
Chainsaw, Echo, Model no.: CS-306
Chainsaw, Rancher, 24" blade
Portable air compressor tanks, 1- Cheetah, Model no.: CH5, 1-
Midwest Products, model no. not available, 5 gallon
Pedestal fan, Patton, 18"
Grill, Kenmore Elite, 58" wide, stainless steel, 8-burner
Air compressor, IR, Model no.: 2340L5X1, vertical, 175 PSI, 60
gallon, 5 HP
Table, 5' x 30", metal top and legs
12 Page 202 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
151 2 $640 $225 $65
152 1 450 160 45
153 8 310 110 30
154 1 70 25 5
155 1 1,650 500 165
156 1 330 115 35
157 1 40 15 5
158 4 230 80 25
2 4' x 12"
1 6' x 20"
1 8' x 16"
159 1 70 25 5
160 1 80 30 10
161 1 660 230 65
162 1 300 105 30
163 1 140 50 15
164 1 95 35 10
165 1 150 55 15
166 2 120 40 10
167 1 650 225 65
Floor heater, Lasko, Ceramic Element
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - REMAINDER
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
Banners, 1- 8' x 3', 1- 8' x 4', vinyl printed décor, Vespa/
Sales & Service"
Television, LG, 50", with wall mount
Resin chairs, plastic
Coffee tables, 21" x 21", wood
All-in-one machine, Brother, Model no.: MFC-8950DW
Printer, Brother, model no. not available
Stand, 20" x 22" x 21", metal, wicker top
Wall shelves, metal wire, with wall brackets, consisting of:
DVD player Phillips, Model no.: DVP5990
Microwave, Sharp, Carousel
Over/under refrigerator, Welbilt, 23" x 55" x 22"
Stand/ break room counter, 31" x 55" x 17", stainless steel, 2
under tiers, 1 top shelf, 6" deep
Garment stand, 4-way. 48" high, tubular chrome
Task stool, plastic base, chrome foot ring, fabric seat and
back
Guest chair, metal sled base, fabric seat and back
Sofa, 92" wide, padded fabric upholstery
13 Page 203 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - REMAINDER
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
168 1 55 20 5
169 1 160 55 15
170 1 30 10 5
171 1 60 20 5
172 1 105 35 10
173 1 75 25 10
174 8 440 155 45
175 1 250 90 25
176 1 315 110 30
177 5 990 345 100
178 1 185 65 20
179 1 225 80 25
180 3 1,225 430 125
181 1 2,275 800 230
182 1 3,025 1,050 305
183 1 95 35 10
184 1 70 25 5Bicycle tire stand, T.C.D.D., Inc., Model no.: 173012, metal
Tire storage rack, 72" x 63" x 17", tubular metal, 2-tier
Pedestal oscillating fan, Lasko, 18" diameter
Toolbox, 20" x 16", metal, 1 top door, 4-drawer
Folding stepstool, metal, 2 plastic steps
Load tester, Motobatt, Part: MBT
Battery charger, Shorai, Model no.: SHO-BMS01
Charger, Noco, Model no.: Genius 5
Battery tester leads, sizes vary
Tire storage rack, 75" x 84" x 20", tubular metal, 3-tier
Tire storage rack, 8' x 84" x 21", tubular metal, 3-tier
Tire storage racks, 67" x 62" x 17", tubular metal, 2-tier
Tire storage rack, 56" x 85" x 15", tubular metal, 3-tier
Storage shelves, 3' x 7' x 8', laminate, 7- and 8-tier, 1- with
no shelves
Safe, Sargent & Greenleaf, Inc., 38" x 69" x 24", steel, dial
entry, single door
Safe, American Security Products, 30" x 60" x 24", steel,
dial entry
Portable air compressor, CH, Model no.: FP202801, 1
gallon, 110 PSI
14 Page 204 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - REMAINDER
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
185 2 530 185 55
186 3 890 310 90
187 1 400 140 40
188 1 130 45 15
189 9 1,525 535 155
190 2 70 25 5
191 1 115 40 10
192 1 220 75 20
193 1 475 165 50
194 2 100 35 10
195 2 150 55 15
196 1 195 70 20
197 1 4,625 1,625 465
198 3 4,700 1,400 470
199 2 120 40 10
Stools, wood, 1- swivel top
Motorcycle/ scooter ramps, 7" to 12" wide, metal, 4' to 12'
long, 6- folding type
Storage racks, 4' x 6' x19", boltless metal, 5 laminate tiers
Battery display rack, 17" x 63" x 9", tubular metal, 6-tier
Display shelf, 25" x 66" x 19", plastic, 5-tier
Assorted banners, 4' x 18" to 8' x 4', vinyl, printed graphic
décor, vendors vary
Fire extinguisher, 10 lb.
Sidewalk sign, 31" x 36", plastic base, interchangeable letter
sign face
Computers, 1- Dell, Model no.: Precision 3431, 1- Gateway,
model no. not available, 1- HP, model no. not available,
with keyboard, mouse, and monitor, LG, 32", speakers
Key lock boxes, 10" x 12", metal and plastic
Display case, 2' x 6' x 2', laminate base, clear plastic facias,
4-tier, illuminated
Stools, wood
Stools, Workpro, tubular metal, vinyl top
Yard blower, Milwaukee, Model no.: M18
Reception counter, 20' x 42" x 32", laminate, decorative
décor, 4-door, 19-drawer, open under storage
15 Page 205 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - REMAINDER
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
200 1 40 15 5
201 1 60 20 5
202 1 155 55 15
203 3 415 145 40
204 1 160 55 15
205 1 430 150 45
206 1 750 265 75
207 1 330 115 35
208 1 255 90 25
209 1 220 75 20
210 1 380 135 40
211 1 590 205 60
212 3 1,825 640 185
213 2 240 85 25
214 1 275 95 30
215 1 360 125 35
216 1 115 40 10
217 1 10,000 3,500 1,000
Fire extinguisher, 10 lb.
Forklift, Daewoo, Model no.: GC2SE-3, cushion tires,
propane
Router, Asus, model no. not available
Switch, Linksys, Model no.: SE3005
External hard drive, Rocket Fish, model no. not available
Credit card terminals, Ingenico, Model no.: iPP320
Portable telephone, Grandstream
Receipt printer, Star, Model no.: TSP700II
DVR recorder, Lorex, Model no.: 4K Ultra HP
Printer, Brother, Model no.: HL-L6200DW
All-in-one machine, Brother, Model no.: MFC-7840W
Bill counter, manufacturer and model no. not available
File cabinet, Hon, metal, 4-drawer
Storage cabinet, 30" x 64" x 12", laminate
Back counters, 74" x 36" x 18", laminate, 8" high
backsplash
Wall shelves, 6' x 12", metal wire
Key rack/ board, 30" x 30", wood, 100-hook
File cabinet, letter size, metal, 3-drawer
16 Page 206 of 270
Item
No.Qty.Description
Replacement
Cost New
Fair
Market
Value in
Place
Forced
Liquidation
Value
COASTRIDERS POWERSPORTS
MOVABLE EQUIPMENT - REMAINDER
EFFECTIVE DATE OF VALUE - APRIL 24, 2023
218 1 2,750 960 275
219 1 1,075 375 110
220 1 495 175 50
$50,730 $17,440 $5,100
Shelf, 99" x 8' x 24", wood, 3 plywood decks
Bicycle trailer, Rampless, Model: Basic Black Single, 8' x
50", with winch
Tool storage box, Knaack, 4' x 36" x 30", metal, casters
TOTAL MOVABLE EQUIPMENT - REMAINDER
17 Page 207 of 270
COASTRIDERS POWERSPORTS
SUBJECT PROPERTY
SIGNAGE
Page 208 of 270
COASTRIDERS POWERSPORTS
RETAIL AREA - REMAINDER
SLATWALL & UPPER STORAGE DECK
Page 209 of 270
COASTRIDERS POWERSPORTS
SERVICE COUNTER
BUILT-IN SHELVING
Page 210 of 270
COASTRIDERS POWERSPORTS
TIRE STORAGE ROOM
REAR SERVICE REPAIR BUILDING – ACQUISITION AREA
Page 211 of 270
COASTRIDERS POWERSPORTS
SERVICE AREA
MOTORCYLCE LIFTS
Page 212 of 270
COASTRIDERS POWERSPORTS
ABOVE GROUND LIFT & LED LIGHTS
REPAIR WORKBENCHES
Page 213 of 270
COASTRIDERS POWERSPORTS
TIRE REPAIR EQUIPMENT
BATTERY ROOM
Page 214 of 270
COASTRIDERS POWERSPORTS
STORAGE AREA
AIR COMPRESSOR
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CONTINGENT AND LIMITING CONDITIONS
(1) No responsibility can be taken by the appraiser for the inability of the owner(s) of this
business to sell the subject assets at the appraised value.
(2) No responsibility can be taken for the accuracy of informat ion on the ownership of the
assets appraised. All information was provided by the business owner(s) or their
representative and is assumed to be correct. No warranty is given as to the accuracy of
such information.
(3) Disclosure of the contents of this appraisal report is governed by the bylaws and
regulations of the American Society of Appraisers and the Uniform Standards of
Professional Appraisal Practice (USPAP).
(4) No responsibility is assumed for matters legal in nature.
(5) No liabilities were considered. Value conclusions are free and clear of liens, easements
and encumbrances.
(6) The fee for this appraisal report does not contemplate appearance in court or before other
governmental agencies as an expert witness. However, Desmond, Marcello & Amster
will appear if prior arrangements are made. Expert witness testimony will be
compensated for at the appraisers’ professional fee rates.
(7) This appraisal and its conclusion are subject to review upon presentation of data which is
undisclosed or not available at this writing.
(8) Neither all nor any part of the contents of this report, particularly as to the conclusion,
the identity of the appraiser, or reference to the American Society of Appraisers, shall be
conveyed to the public through advertising, public relations, news or other media without
the prior written consent and approval of the appraiser.
(9) No responsibility is taken for changes in market conditions and no obligation is assumed
to revise the final report to reflect events or conditions which occur subsequent to the
date hereof.
(10) Full compliance with all applicable federal, state, and local environmental, zoning and
similar laws and regulations is assumed, unless otherwise stated.
(11) The results of this appraisal including the opinion of value are made only for the stated
effective date of value and the purpose stated, and shall not be used for any other
purpose.
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(12) It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any federal, state or local government or
private entity or organization have been or can be obtained or renewed for any use on
which the value estimate contained in this report is based.
(13) The existence of hazardous substances, including without limitation, asbestos,
polychlorinated biphenyls, petroleum leakage, or agricultural chemicals, which may or
may not be present on the property, or other environmental conditions, were not called to
our attention nor were we aware of such during our inspection. We have no knowledge
of the existence of such materials on or in the property unless otherwise stated. We are
not qualified to test for such substances or conditions. If the presence of such
substances, such as asbestos, urea formaldehyde foam insulation, or other hazardous
substances or environmental conditions may affect the value of the property, the value
estimate is predicated on the assumption that there is no such condition on or in the
property or in such proximity thereto that it would cause a loss in value. No
responsibility is assumed for any such conditions, nor for any expertise or engineering
knowledge required to discover them.
(14) You agree to indemnify and hold harmless Desmond, Marcello & Amster from and
against any and all liabilities, damages, costs and expenses (including attorneys’ fees)
which may be incurred by Desmond, Marcello & Amster as a result of any action(s)
brought against us in connection with our report.
(15) Acceptance of and/or use of this appraisal report constitutes acceptance of the foregoing
general assumptions and limiting conditions.
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DESMOND, MARCELLO & AMSTER
TANGIBLE ASSET VALUATION SPECIALISTS
THE FIRM: GENERAL DESCRIPTION
Since 1968, Desmond, Marcello & Amster has provided clients in both the public and private sectors
with expertise in the valuation of closely-held businesses, professional practices, and specific tangible
and intangible assets, such as furniture, fixtures and equipment and goodwill. Since the enact ment of the
California Eminent Domain Law of 1976, DM&A has specialized in providing valuation services for
eminent domain proceedings.
Desmond, Marcello & Amster has completed over one thousand appraisals under the California Eminent
Domain Law, for both government agencies and private parties. The valuation analysts at DM&A work
in conjunction with condemning agencies, business owners, attorneys, relocation agents, acquisition
agents, developers, and real property appraisers to provide defensible value opinions.
DM&A is staffed to provide its eminent domain clients a full breadth of valuation services. This multi -
disciplinary capability enables DM&A to address complex valuation issues involving furniture, fixtures
and equipment.
Desmond, Marcello & Amster offers the following eminent domain valuation services:
Exposure estimates of goodwill loss and fixtures and equipment value for budgeting purposes;
Preliminary fixture and equipment and goodwill loss studies;
Comprehensive appraisal reports of goodwill loss, and fixtures and equipment;
Analysis of precondemnation damages and inverse condemnation claims;
Assistance in negotiating settlements;
Expert witness testimony; and
Educational seminars on goodwill loss valuation issues.
Litigation support services include:
Assistance in developing questions for depositions and interrogatories;
Review of opposing appraisals;
Assistance in coordinating other key witnesses;
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Outlining examination for direct testimony and cross examination; and
Development of rebuttal testimony.
PROFESSIONAL AFFILIATIONS AND DESIGNATIONS
Individual staff members of Desmond, Marcello & Amster are associated with the following:
American Society of Appraisers (Members and Candidates)
CFA Institute (Member)
International Right of Way Association (Member)
American Institute of Certified Public Accountants (Member)
California Society of Certified Public Accountants (Member)
Institute of Management Accountants (Member)
PUBLICATIONS
DM&A publishes the Compensable Business Loss Review, a technical newsletter first released in 1988.
The Review covers a wide array of eminent domain topics including valuation, acquisition, relocation and
legal issues.
LECTURES AND SEMINARS
Firm members regularly conduct seminars for public agencies, professional appraisal organizations and
law firms on how to appraise goodwill loss under §1263.510 of the California Eminent Domain Statute.
EDUCATION
Members of the firm hold graduate and undergraduate degrees from the academic institutions of Harvard,
Wharton (University of Pennsylvania), University of Michigan, Claremont McKenna College, Loyola
Marymount University, University of Southern California, and California State University, Long Beach.
All firm members are regularly involved in continuing education courses in finance, accounting and
valuation.
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