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lower values by making smaller or larger adjustments to the sale
prices per square foot used in adjusting the comparable
properties. Because the “comparables” used by Mr. Harris were so
different from the subject properties, and thus required such
significant discretionary adjustments in order to provide a basis
for comparison, we are left with some doubt about the reliability
of Mr. Harris’s conclusions. Presumably, these were the most
“comparable” properties that Mr. Harris was able to find.
Next, Mr. Harris used the adjusted per-square-foot values
for the “comparable” properties to determine the value of the
subject properties. For two of the properties (Watt Avenue and
Fee Drive), Mr. Harris computed an average adjusted price per
square foot for the “comparable” properties, which was rounded up
to the nearest whole dollar amount per square foot. For the
remaining property (Mother Lode Drive), Mr. Harris eliminated the
high and low comparable values and used a whole dollar amount in
the range of the remaining three values.
Mr. Harris then computed a fair market value for the subject
properties by multiplying the per-square-foot values he
determined from his average or median adjusted “comparable”
properties by the number of square feet of each of the subject
properties.
After deriving a current fair market value for the subject
properties, Mr. Harris computed the annual fair market rental
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