The property was previously used by the public as a local kayak launch. TK Enterprises purchased the property in July 2017 for $26,725.00. After this purchase, TK enterprises cleared the property and fenced the boundary. Based upon a Determination of Minimum Use, the property qualifies for one single-family residence.
Several complaints were made when the property was fenced. These complaints of denied public launching access at this location led to the determined need to pursue purchase of this parcel when it became available.
The Owner obtained two appraisals based on the ability to construct a single-family residence with a value between $90,000 and $110,000.
Vacant land – STRAP No. 15-43-26-00-00008.0000
Land Use – Rural; Zoning – AG-2; Size – 0.92+/- acres
Owner: TK Enterprises, LLP, a Maryland limited liability partnership
The parcel was acquired by the current owner on July 6, 2017 for $26,725. The appraiser acknowledged that while this was an arm’s length transaction, it was below market.
Appraised Value: $95,000, appraised by T.A. Tippett, Inc. – Thomas A. Tippett, MAI
Purchase Price: $90,000
Estimated Closing Costs: $5,400 (Costs include environmental assessment, surveying, closing expenses and fees)