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HomeMy WebLinkAboutFire station appraisal update 9 4 2026INSIGHT. IMPACT. INTEGRITY. ©2026 VALBRIDGE PROPERTY ADVISORS | NORTHERN CALIFORNIA 3160 CROW CANYON PLACE, SUITE 245 SAN RAMON, CA 94583 September 4, 2026 Josh Fronen, MAI 408-279-1520, ext. 7102 jfronen@valbridge.com VIA E-Mail Only John Filice Glen Loma Corp. 7888 Wren Avenue, Suite D-143 Gilroy, CA 95020 Re: Appraisal Update Letter for Fire Station Site, Glen Loma, Gilroy CA (APN 808-58-004) Dear Mr. Filice: Per your request, we have provided an opinion addendum letter to our original appraisal (our file # CA03-24-0549). This letter may not be properly understood without our original appraisal file. Our original opinion of value was $1,315,000 and the date of value was October 21, 2024. You have now asked us to opine as to the value of the property as of a later date, as of March 5, 2025, which is ±4.5 months after our original date of value. There were no substantive physical changes to the subject property between those two dates. Based on our research and analysis of any new comparable data, Case Schiller real estate pricing trend data, and interest rate data, we opine that the value as of March 5, 2025 was materially unchanged relative to October 21, 2024. The retrospective fee simple market value as of the March 5, 2025 was, therefore $1,315,000. We refer the reader to our original report for additional property and appraisal information, including the property’s legal and physical characteristics, highest and best use, client, intended use/ user, certificate and assumptions and limiting conditions. Respectfully submitted, Valbridge Property Advisors | Northern California Josh Fronen, MAI Managing Director California Certified License #AG028548 License Expires 12-18-2027