Specifications include, but are not limited to: Vendor shall analyze the regional and local area economic profiles including employment, population, household income, and real estate trends. The local area should be studied to assess the general quality and condition, and emerging development trends for the real estate market. The immediate market area should be inspected and examined to consider external influences on the subject. Vendor shall confirm and analyze legal and physical features of the subject property including, but not limited to, sizes of the site and improvements, flood plain data, seismic zone, zoning, easements and encumbrances, access and exposure of the site, and construction materials and condition of the improvements. This process also included estimating the remaining economic life of the improvements, analysis of the subject’s site coverage and parking ratios compared to market standards, a process to identify deferred maintenance and a conclusion of the subject’s overall functional utility.
