Deed - Civic Center - File 155, 1938 pt1

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Electrical fixtures are primarily fluorescent with incandescent lighting in the courtrooms. These are 300 watt, flush, mogul base spots; 150 watt spots are used in the corridor and lobby areas. Extensive wood frame and plywood cabinets and shelves were built around the clerks and marshalls office. The countertop units approximate 56 lineal feet. With the exception of normal wear and tear of the interior finishes, floors, walls, and equip- ment, the subject property exhibits little phy- sical depreciation. In any event, were the pro- perty to sell in the open market today, a buyer would in all probability discount the price very little for the curable depreciable items. If the interior were to be remodeled, which it most probably would be in the case of the subject property, most of these items would be absorbed in the process of remodeling. The other elements of depreciation, functional and economic, will be discussed in greater de- tail under Approaches to Value. These items, unlike physical depreciation, are more important considerations in the valuation of this property. The appraiser has found little physical deprecia- tion in the structure, plumbing, electrical and HVAC systems. No specific investigation of the roof surface was made but it is assumed that few repairs would be necessary for this item for at least another 5 to 10 years. The quality of the equipment and of materials as well as workmanship is excellent in the case of this property; it conforms fully to earthquake and fire design specifications as do most recently constructed public buildings. APPROACHES TO All three commonly accepted approaches to value VALUE have been analyzed with respect to the subject property. Outside of the land sales gathered for use in the cost approach, the appraiser has not utilized the direct comparison approach.