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Comparable 3 ($1 /acre) is the sale of 40 acres in the Chapman Heights area of Eugene, slightly northwest,of the subject. Although it is a slightly older sale, it is a good representation of F -2 land sales on the outskirts of Eugene. The property was not sold with a building permit and was likely not going to be considered buildable in the near term. Views from the parcel were excellent. There was some marketable timber on the property, but it was given no value in the transaction. The purchasers were not intending to harvest the trees. This comparable did not have a building permit at the time of sale, which is inferior to the southern portion of the subject property. Offsetting this is its much smaller size. On balance, this is a reasonable indicator for the subject. Comparable 4 (534,884/acre) is the current listing of property located in Albany on the east side of Interstate 5. It is currently zoned UGM -20 and is zoned Light Industrial in the city's Comprehensive Plan. It is located within the UGB, yet outside the city limits. The I site totals nearly 43 acres, much smaller than the subject. The listing agent has had the property listed for more than one year. She has had some interest; however, most , buyers are turned off because it is considered transition land. The site has good exposure as it can be seen from Interstate 5, however, current and probable future access will be secondary access. The site is zoned light industrial in the Comprehensive Plan and is inferior to the subject's zoning potential once there is an adjustment made to the UGB. On balance, this comparable is a slightly high indicator for the subject. Comparable 5 ($70,000 /acre ) is a endin sale of a p g parcel of land located . north of the I subject near Albany. This parcel is located west of Interstate 5, giving it excellent exposure and good potential access from several neighborhood arterials. It is zoned UGM (outside the city and inside the UGB) and is zoned residential in the Albany Comprehensive Plan, superior to the subject's probable zoning in the event of a UGB I adjustment. The property was under contract once before the current pending sale. However, that sale fell through as a result of the buyer discovering development issues with the site that he did not expect. The current offer is pending based on the buyer I performing his due diligence. There are several acres of wetlands on the property however, a delineation has not been performed. The listing agent stated that the he expects the buyer will discover the wetlands and make a second offer at a lower per acre price to account for the loss of useable acreage and any mitigation fees associated with the wetlands. He stated his seller is willing to accept a lower offer, but did not reveal how low he is willing to accept. It is unknown when this property will be I annexed into city limits. Superior access and exposure characteristics combined with superior zoning and location inside the UGB make this a high indicator for the subject property. VALUE CONCLUSION NORTH PORTION The subject's north portion is located slightly outside the UGB and within close proximity to commercial type development. The likelihood of a UGB extension is unknown; however, there are several factors to suggest an adjustment is near. This land is considered transition land and has a highest and best use of holding for future development. Comparable sales of similar property are extremely rare; however, sufficient data was found and gave a reasonable estimate of value for the subject. Comparable 1, 4 and 5 were given primary emphasis in comparison to the subject's north portion. The chart on the following page summarizes these comparables and their value indications for the subject. I