Washington State Common School Trust land, under the management of the Washington State Department of Natural Resources (DNR). The use of this appraisal is to assist the DNR with determining the lease rate for a potential 50-year lease of the parcel to Peninsula Metropolitan Park District of Pierce County.

Vacant land, unimproved except for initial sitework. Both sites are located one same street and both have significant amounts of wetlands. The sites are intended for development with a middle school and a community park. Reports include thorough analysis of the local residential market, as well as a valuation of the properties via the Sale Comparison Approach.

The subject is improved with an asphalt-paved parking lot, and is a portion of a larger property known as the University Heights Community Center. This property has been designated as a City of Seattle Landmark, and any modifications are subject to approval by the Landmark Preservation Board.  In the course of this appraisal, implications of the landmark status were researched and outlined in the appraisal report.