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Downtown Study (2) Downtown Salina H.D. Lee Complex IISa:f o3r.i... Housing Profile Prepared by Shaner Appraisals Places:Salina city.KS Census 2000 Vacant Housing Units by Status Number Percent Total 1.076 100.0 For Rent 494 45 9' For Sale OM/ 198 184'-, Rented/Sold.Unoccupied 64 5.9% SeasonarRecreahonal!Occasional Use 49 4.6% For Migrant Workers 1 0.1% Other Vacant 270 25.1". Census 2000 Occupied Housing Units by Age of Householder and Home Ownership Occupied Units Owner Occupied Units Number %of Occupied Total 18.523 12.244 66.1% 15.24 1.396 261 18.7% 25-34 3.256 1,641 50.4% 35-44 3.919 2,588 66.0% 45.54 3.433 2.587 75.4% 55.64 2.296 1,887 82.2% 65.74 2.072 1.707 82.4% 75.84 1.627 1.254 77.1% 85+ 524 319 60.9% • Census 2000 Occupied Housing Units by Race/Ethnicity of Householder and Home Ownership Occupied Units Owner Occupied Units Number %of Occupied Total 18.523 12.244 66.1% White Alone 16.888 11.344 67.2% Black Alone 623 296 47.5% American Indian Alone 91 35 38.5% Asian Alone 233 170 73.0% Pacific islander Alone 7 4 57.1% Some Other Race Atone 441 271 61.5% Two or More Races 240 124 51.7% Hispanic Origin 796 470 59.0% Census 2000 Housing Units by Units in Structure and Occupancy Housing Units Occupied Units Number Percent Number Percent Total 19,610 100.0% 18.531 100.0% 1.Detached 13.972 71.2% 13.376 72.2% 1 Attached 1.127 5.7% 1,097 5.9% 2 1.112 5.7% 1.016 5.5% 310 4 760 3.9% 624 3.4% 5 to 9 725 3.7% 682 3.7% 10 to 19 448 2.3% 410 2.2% 2010 49 463 2.4% 413 2.2% 50 or More 172 0.9% 162 0.9% Mobile Home 831 4.2% 751 4.1% Other 0 0.0% 0 0.o% Oau Mae.Persons 01 Mispanrc Onpm may O.01 any on Source U.S Oureau 01151 Census.2003 Consul of■opulatbn and Housmp. S SHANER APPRAISALS, INC. Demographic Reports • 102 Downtown Salina H.D. Lee Complex sa appraisals_ • Housing Profile Prepared by Shaner Appraisals Places:Salina city,KS Census 2000 Specified Owner Occupied Housing Units by Selected Monthly Owner Cost Number Percent Total 11.020 100.06. With Mortgage 7.375 86.9% <5200 7 0.1% $200.5299 37 0.3% 5300•5399 259 2.4% $400-5499 712 6.5% 5600.5599 825 7.5% 5600.5699 1,079 9.8% 5700.5799 1,006 9.1% 5800.5899 708 6.4% 5900.5999 686 6.2% 51000-51249 1.032 9.4% 51253.51499 530 4.8% 51503.51999 322 2.9% $2000.52499 108 1.0% 52500-52999 44 0.4% 53000+ 20 02% With No Mortgage 3.645 33.1% Median Monthly Omer Costs for Units .ith Mortgage $776 Average Monthly Omer Costs for Units:.ith Mortgage 5872 Census 2000 Specified Renter Occupied Housing Units by Contract Rent Number Percent • Total 6 270 100.0% Paying Cash Rent 6112 97.5% o 5100 168 2.7% 5100-5149 110 1.8% 5150.5199 248 4.0% $200-5249 405 6.5% 5250-5299 714 11.4% 5300.5349 1.146 18.3% 5350.5399 1.123 17.9% 5400-5449 839 13.4% $450.5499 481 7.7% 5500-5549 295 4 7% 5650-5599 165 2.6% $600-5849 101 1.6% 5650-5699 90 1.4% 5700-5749 29 0.5% 5750-5799 15 0.2% 5800-5899 9 0.1% 5900.5999 19 0.3% 51000-51249 129 2.1% 51250-S1499 0 0.0% 51500.51999 26 0.4% 52000+ 0 0.0% No Cash Rent 158 2.6% Median Rent 5362 Average Rent 5379 Average Gross Rent h••rith Utilitiesi $484 0313 Note Specified Owner Occupied Housing Units exclude houses on 10+acres.mobile homes,units in mualund buildings.and houses with a business or medical Writ.Stitched Remy Occupied Housing Units exclude houses on 10-acres.Average Contract Dent and Average Gross Rent exclude units paying no cash rent, Source U S.Bureau Of toe Census.2000 Census of Populabdn and Housing. 4111 SHANER APPRAISALS, INC. Demographic Reports • 103 Downtown Salina H.D. Lee Complex Sapp osols_ Household Growth Chart Prepared by Shaner Appraisals Area 1 Places:Saline city.KS 2000-2007 Households Annual Rate 0.37 2007-2012 Households Annual Rate 0 31^c. Total Households I -Area 1...1 2(x000 185243 18953 19zeo 7&pco 17349 16000 140(X) 11000 10000 800■- U 400D !7000 0 1940 _._ )000 2007 '01), .__.. Sourer U.S.Bureau of the Census,2000 Census of Population and Housing.ESR1 converted 1990 Census data Into 2000 geography.ESRI forecasts for 2007 and 2012. I • SHANER APPRAISALS, INC. Demographic Reports • 104 Downtown Salina H.D. Lee Complex 2007 Household Income Chart Prepared by Shaner Appraisals Area 1 Pisces:Salina city.KS 2007 Household Income FM- Area t 1 Percent 00 10 20 36 40 50 60 TO 90 90 100 III0 12.0 130 1 I i 1 1 1 1 I I I I 1 .010000- 11.7 815,000.019 cy,1 58 520.000•524 999- 5.4 525.000•520.990 5 9 530.000.434 599- 6 0 535+00•839 999 a 5 440 000 044 999 7 2 445000.049 999- 61 S50 000_459 6099 10 5 860.000 074 909- 11.9 575 499 990 12 6 4930 060-4124 999- 4 6 6125,000-S149 999 2 3 $150,000.8t99999 19 8200 000.5249 999- 0 8 5250,000.5499.999 0 8 5500000• 02 Source: E$RI loneasta lot 2007. • SHANERAPPRAISALS, INC. Demographic Reports • 105 Downtown Salina H.D. Lee Complex • Places:Salina city,KS 2000 Housing Units 19.599 Owner Occupied Housing Units 62.54io Renter Occupied Housing Units 32.0% Vacant Housing Units 5.5% 2007 Housing Units 20,269 Owner Occupied Housing Units 63.4% Renter Occupied Housing Units 30.1% Vacant Housing Units 6.5% 2012 Housing Units 20.706 Owner Occupied Housing Units 62.8% Renter Occupied Housing Units 30 2% Vacant Housing Units 7.0% 2007 Housing Units MN Area 1 L 85.0 r+4 . . 80 0 55.0 50.0 45 0 40.0 • 8 35 0 30 1 30.0 — — 250 i 200 150 10.0- 8.5 5.0 0.0 Owner Oc .__ Renter Occupied Vacant Median Home Value 2000 $81,230 2007 $114.251 2012 $129.792 Data Note: Detail may not sum to totals due to rounding. Source: U.S.Bureau of the Census.2000 Census of Population and Housing.ESRI forecasts for 2007 and 2012. • SHANERAPPRAISALS, INC. Demographic Reports • 106 Downtown Salina H.D. Lee Complex 5a'eP73,r1:-.1B.- Retail MarketPlace Profile III Prepared by Shaner Appraisals Places:Salina city,KS Summary Demographics 2007 Population 46,458 2007 Households 18,953 2007 Median Disposable Income 537,169 2007 Per Capita Income $23,811 Industry Summary Supply Demand Leakage/Surplus Number of (Retail Sales) (Retail Potential) Retail Gap Factor Businesses Total Retail Trade and Food&Drink(NAICS 44-45,722) $797,742,338 5435.343,992 5-362,398,346 -29 4 498 Total Retail Trade(NAICS 44-45) $747,826,634 5384,537.854 5-383,288,780 -32.1 391 Total Food&Drink(NAICS 722) $49,915.704 $50,806,138 $890,434 0 9 107 Supply Demand Leakage/Surplus Number of Industry Group (Retail Sales) (Retail Potential) Retail Gap Factor Businesses Motor Vehicle&Parts Dealers(NAICS 441) 5182,998,535 $99,930,302 5-83,068,233 -29.4 67 Automobile Dealers(NAICS 4411) $122,010,285 $85,693.501 5-36,316,784 -17.5 39 Other Motor Vehicle Dealers(NAICS 4412) $41,123,237 56,513,578 5.34,609,659 -727 5 Auto Parts,Accessories,and Tire Stores(NAICS 4413) $19,865,013 $7,723,223 5-12,141,790 -44.0 23 Furniture&Home Furnishings Stores(NAICS 442) $15,372,555 $12,084,106 5-3,288,449 -12.0 23 Furniture Stores(NAICS 4421) $10,098,917 $9,972,244 5-126,673 -0 6 10 Home Furnishings Stores(NAICS 4422) $5,273,638 52,111,862 5.3,161,776 -42 8 13 Electronics&Appliance Stores(NAICS 443/NAICS 4431) 516,066,215 $6,764,961 5-9,303,254 -40.7 31 Bldg Materials.Garden Equip.&Supply Stores(NAICS 444) $21,811,904 59,036.593 5-12,775.311 -41.4 21 III Building Material and Supplies Dealers(NAICS 4441) $20,544,996 $8,590.016 5-11,954,980 -41.0 19 Lawn and Garden Equipment and Supplies Stores(NAICS 4442) $1,266.908 $446,577 5-820,331 -47.9 2 Food&Beverage Stores(NAICS 445) 592,528.135 548.479.925 5-44,048,210 -31.2 41 Grocery Stores INAICS 4451) $78,445,630 $42,744,883 5-35,700,747 -29 5 17 Specialty Food Stores(NAICS 4452) $2,127,108 $757,761 5-1,369,347 -47.5 10 Beer,Wine,and Liquor Stores(NAICS 4453) 511,955,397 54,977,281 5-6.978,116 -41.2 14 Health&Personal Care Stores(NAICS 446/NAICS 4461) $69,148,135 $11,030,899 5-58,117,236 -72.5 29 Gasoline Stations(NAICS 447/4471) 5152,645,313 $60.071,875 5-92.573.438 -43.5 25 Clothing and Clothing Accessories Stores(NAICS 448) $25,658,792 $12,141,365 5-13,517,427 -35.8 40 Clothing Stores(NAICS 4481) 516,428,749 $9,212,138 5-7,216.611 -28.1 25 Shoe Stores(NAICS 44821 54,145,753 51.684.704 5-2,461,049 -42.2 8 Jewelry,Luggage.and Leather Goods Stores(NAICS 4483) $5,084.290 51.244,523 5-3,839,767 -607 7 Sporting Goods,Hobby,Book,and Music Stores(NAICS 451) 518,315,866 55.990,256 $-12.325,610 -50.7 27 Sporting Goods/HobbylMusical Instrument Stores(NAICS 4511) $14,986,671 53.513,180 5-11,473,491 -82 0 20 Book.Periodical,and Music Stores(NAICS 4512) $3,329,195 $2,477,076 5-852,119 -14.7 7 • SHANER APPRAISALS, INC. Demographic Reports • 107 Downtown Salina H.D. Lee Complex • 5ara e1so1... Retail MarketPlace Profile Prepared by Shaner Appraisals Places:Salina city.KS Supply Demand Leakage/Surplus Number of Industry Group (Retail Sales) (Retail Potential) Retail Gap Factor Businesses General Merchandise Stores(NAICS 452) 594 058,789 5101.821.319 57,762,530 4 0 12 Department Stores Excluding Leased Depts.INAICS 4521) 590.006,475 552.103,594 5.37.902.881 -26.7 11 Other General Merchandise Stores iNAICS 4529) $4,052,314 $49,717.725 545,685,411 84.9 1 Miscellaneous Store Retailers(NAICS 4531 523.954.305 57.131.620 5-16.522.685 -52.6 67 Florists(NAICS 4531) $1,884,778 5559.837 $-1,124,941 40.1 6 Office Supplies Stationery,and Gift Stores(NAICS 45321 55,155.400 $3.172.251 5.1,983.149 -23.8 23 Used Merchandse Stores(NAICS 45331 51.918.703 5435.230 $-t,483,473 •63.0 12 Other Miscellaneous Store Retailers iNAICS 4539) 515,195.424 53,264.302 5.11,931.122 .64.6 26 Nonstore Retailers(NAICS 454) 535.266.090 59.754.633 5-25,511,457 -56.7 8 Electronic Shopping and Mail-Order Houses(NAICS 4541) 510.772.744 SO 5.10.772.744 •100.0 1 Vending Machine Operators(NAICS 4542) 515.269.529 54.213.717 5.12,055,812 -58 9 6 Direct Selling Establishments(NAICS 45431 $8.223,817 55,540.916 5-2.682.901 •19.5 1 Food Services&Drinking Places(NAICS 722) 549,915.704 $50,806,138 5890.434 0.9 107 Full-Service Restaurants(NAICS 7221) 513 834,289 59.643.800 5-4.190,489 •17 8 3 Limited-Service Eating Places(NAICS 7222) 531.171,724 $35,765,153 55.593.429 8.2 65 Special Food Services(NAICS 7223) $1.704422 $2,106,064 5401.642 10.6 5 Drinking Places-Alcoholic Beverages(NAICS 7224) $3,205,269 $2,291.121 S-914.148 -16.8 14 • -- Lsakegs/Surplus Factor by Industry Subsector -7,o . i 0 - 1 0 .4t0 .1 0 :00 110 00 100 Motor WMtle&Parts Dealers Furniture&Home Furnishings Stares Electronics&Appliance Stores 6Mg Materials.Garden Equip&Supply Stores ,. s °: I l 9 Food&Beverage Stores • rd R 7 Hat&Persona Care Stores ( z N Gesosne Stations 7 c Clearing and Clothing Accessories Stores U , Z Sp rtngGoods.Hobby Bookend Music Stores General Merchandise Stores ,'r" '*.. J..i.i Miscellaneous Store Retailers I 1•I' Nonwrare Retailers Food Senates&Drinking Places a ] c---Surplus—Leakage—> Source:ESRt and ntoUSAC III SHANER APPRAISALS, INC. Demographic Reports • 108 Downtown Salina H.D. Lee Complex : e Stu_ • Retail Marketplace Profile Prepared by Shaner Appraisals Places:Salina city,KS Leekage/Surplus Factor by Industry Group -80.0 -.1 0 A .0 .20 0 0.D 20.0 40.0 60.0 80 0 100.0 Automobile Dealers r Other Moroi vehicle Dealers r . I Auto Pans,Accessories and Tire Stores- RrrcMe Stores 8 I Home Furnishings Stores Electronics 8 Appliance Stores ;', Building Material and Supplies Dealers ii■winmem■nnweee Lawn and Garden Equipment and Supplies Stores -i :41:I.L011 Grocery Stores Food Stoles ° .,r.�.. Beer,Wine,and Liquor Stores Health A Personal Care Stores i a. Gasoline Stations ter• ` "". O O Clothing Stores emminimenin Shoe Stores ;,.,.''.. • Jewelry,luggage,and Leather Goods Stores 'c Spading GoodsobbylMusical Instnnment Stores i~r • CO Q Book,Periodical,and Music Stores ,�- Z r Department Stores(Excluding Leased Depts) Other General Merchandise Stores 1 Flonsis =111■1■■•■• Office Supplies,Ste' bonBry,and GM Stores �� „ Used Merchandise Shores ,,:.:_ Other Miscelaneous Store Retailers ' ,•_.;i�. Electronic Shopping and Mail-Order Houses Vending Machine Operators • :"-- Direct Selling Establishments wwwweei „l Fug-Seneca Restaurants s .T Limited-Service Eating Places ,1; Special Food Services eaa� ... I DrWdng Places(Alcoholic Beverages)• ":t,`,., I <---Surplus—Leakage--> Source:ESRI and:MOUSAO • SHANER APPRAISALS, INC. Demographic Reports • 109 Downtown Salina H.D. Lee Complex 1 Y. n fl M .O i't I�. i� J cl ,i Gov r - oo2 nor. o . o - , 0 rNOO - p - r. c a - 0, ' 00 8 .0 .N Y n o a U Q L E le p X p M V R W P O N M N V 01 w ^ * : b F C I W _/^ v 10M ice. : rggs+t a gogl" : g5g cg0. 5 ! tg,te' iigN �" f A, r n i �. . O v R a ? k 0 1; e b % 4 g v + rr m ;i n o F: b r O q n P. • n O$ .. a R ii 3 a m Tit- � on ent. 00 a. v n Qi a a' t c a 0 m E O w C N o 0 N m m 0 V 8 C 1 4 L F 4 8 S gg ft I 4- 1t a � � U d f o# r, f§ i i. a Ee �+ . Z K -* � Illiflhli 11111 ItH11ih. 4 tssil a 1 g ,!., l 'oo. i i 027Pos z ; ,?, t .,, ,i 3. ,, s ,111 a [I nievit • SHANERAPPRAISALS, INC. Demographic Reports • 110 Downtown Salina H.D. Lee Complex { pt4 1t V < r < ■ ■ # 4tJ ■ ■ . 444dtt ■ ■ ■ ■ f. get141 ■ ■ ■ # ,t • c . , 0 - 0 , 0 , > VV , . � , . at . • . . , 00 • 0 • 0 , . F . . . . . . 420 0 \ o,"o ! ! ■ § » • § ItI , ti ! ! ®.^ st a °r , r - 1 = , � � ■ ° ■ � p � ■ @ « : . . . . ' { EZ ; § < / i . + , 2 m . 4z ■ ( ■ # & # ! ■ ■ ■ ■ 000x , ■ ■ ■ af0 ■ ■ af. ■ z ■ ! ! ■ ■ e0 ! .. | 0 . , . - - ' - - - . - - • , � - ' - - 1 • © , t , r : , ■ , - ■ ' . � . n , � - ■ . e , p . i « , - � £}k o E I III | I ! | } § | | | | } 1 1 , | | ` | , / I K } � } ! | . ) , ! ! | i g | ! . | | | | ‘ i - ! | j ! | / ! Vii , . 11 ; ! ; ; !! \ ! � { I . ■ | �� |� , | • ■ i ud 17, ! f . . , , f . | ! ! , � | EL ca 1 ! ■ ? 1 "i g _ ! � | | ! ■ ' ii , , - . | i 4! 2 I ,! i . . | } l , _ - ! | ! ; ' | 1 1 | i ! , | i ! ! | � f it , h ; ' ! : ! ' | ! \ � ! f ) i ,.4 | 1 f | | | $ i4 | ! I | | | ! / IP SHA&ER APPRAISALS, INC. Demographic Reports • 111 Downtown Salina H.D. Lee Complex • seep oonte_ Market Profile - Appraisal Version Prepared by Shaner Appraisals Places:Salina city.KS 1990 Total Population 42.568 2000 Total Population 45.679 2000 Group Quarters 1.367 2000 Population Density 2.009.6 2007 Total Population 46,458 2007 Population Density 2.043.9 2012 Total Population 47.090 2007-2012 Annual Rate 0.27% 1990 Households 17.349 Afi 2000 Households 18,523 2000 Average Household Size 2.39 2007 Households 18.953 2007 Average Househo'd Size 2.38 2012 Households 19.248 2012 Average Househo!d Size 2.38 2007-2012 Annual Rate 0.31% 2000 Families 11.878 2000 Average Family Size 2.98 2007 Families 11.980 2007 Average Family Size 2.95 2012 Families 11.986 2012 Average Family Size 2.95 2007-2012 Annual Rate 0.01% 2000 Housing Units 19.599 MILL imam Owner Occupied Housing Units 62.5% Renter Occupied Housing Units 32.0% III Vacant Housing Units 5 5;0 2007 Housing Units 20,269 Owner Occupied Housing Units 83 4% Renter Occupied Housing Units 30.1% Vacant Housing Units 6.5% 2012 Housing Units 20.706 Owner Occupied Housing Units 62 8% Renter Occupied Housing Units 30 2% Vacant Housing Units 7 0% Median Household Income 1990 $25.152 2000 $36.084 2007 $46.256 2012 $54.277 Median Home Value 7990 $45.365 2000 $81,230 2007 5114.251 2012 5129.792 Per Capita Income 1990 513.012 2000 $18.593 2007 $23.811 2012 528.496 Median Age 1990 33.1 2000 35.3 2007 38.4 2012 36.7 Data Hots: Household population Includes persons not residing In group quarters.Average Household Sire is the household population divided by total households. Persons In families include the householder and persons related to the householder by birth marriage or adoption.Per Capita Income represents the income received by all persons aged lb years and over divided by total population.Detail may not sum to totals due to rounding. Source.U.S.Bureau of the Census.2000 Census or Population and Housing.ESRI forecasts for 200?and 2012.ESRI converted 1990 Census data into 2000 geography S SHANER APPRAISALS, INC. Demographic Reports • 112 Downtown Salina H.D. Lee Complex sa ePp r..1s_ Market Profile - Appraisal Version Prepared by Shaner Appraisals Places:Salina city.NS 2000 Households by Income Household Income Base 18,537 <515,000 15.9% 515.000-$24,999 15 4% 525.000-534.999 16.8% 535,000-$49.999 20 3% 550.000-574.999 19.7% 575.000-599.999 64% 5100.000-$149,999 3.7% 5150.000-$199,999 0.9% 5200.000+ 1 0% Average Household Income $44,888 2007 Households by Income Household Income Base 18,954 <515,000 11.7% 515.000-524.999 11.1% 525.000-$34.999 11.9% 535.000-549.999 19.8% 550,000-$74.999 22.4% 575,000-599.999 12.6% 5100.000-5149,999 6.9% 5150.000-5199.999 1.9% S200.000+ 1.7% Average Household Income $57,317 2012 Households by Income Household Income Base 19,247 S 515,000 9.6% S15.000-$24.999 8.9°/0 9% 5 • 25.000-$34.999 10.0% 535.000-$49.999 16,2% 550.000-$74.999 23.7% $75,000-$99.999 14.2% 5100.000-$149,999 11.8% 5150.000-$199.999 2.9% 5200.000+ 2.7% Average Household Income $68,556 2000 Owner Occupied HUs by Value Total 12.261 <550.000 19.1% $50,000-99.999 48.0% 5100.000-149.999 21,1% S 150.000-199:999 7.3% $200.000-5299.999 3.3% 5300.000-499.999 1.0% 5500.000-999.999 0.1% 51.000.000+ 0.1% Average Home Value $94526 2000 Specified Renter Occupied HUs by Contract Rent Total 6.270 With Cash Rent 97.5%. No Cash Rent 2.5% Median Rent $362 Average Rent S379 Data Note Income represents the preceding year.expressed in currant dollar*.Household income includes wee.and salary earnings.interest.dividends.net rents. pensions.BSI and welfare payments,child support and alimony.Specified Ranter Occupied HUe exclude houses on 10.acres.Average Rent excludes units paying no cash rent Source U S.Bureau of the Census.2000 Census of Population and Housing.ESRI forecasts for 2007 and 2012. SHANER APPRAISALS, INC. Demographic Reports • 113 Downtown Salina H.D. Lee Complex • 5a: 1:.1. Graphic Profile -Appraisal Version Prepared by Shaner Appraisals Places:Salina city,KS Households 2007 Households by Income 20000 _._. 18000- 16000 $75K.100r(12 0%) SIOOK$15OK IS 9%) 14000 .. Si5OR•0 6%) 1 =!4„(.75(6(224%) )'„ 00OO 19249 I $i'(y '`3 OO W S1514.5251(01 1%) 535KS50K(19-8%1 14000 -.35K(11 9%) I ?20oo 0 2000 200 20 if— 2007 Population by Age 2007 Employed 16+by Occupation 5564(10 0•.l 65+(1.0%) I 4554(14 4%) Pf(Auction(1 0 4 e) 0 . C.Orl, ....n e7 gx 1•s( i Rum/F.0 t0 4%) Trnnirortahon IS 2%) -517 2'„). Support 03 Tx. Llyrnl°Busnou(8 6°•) ... .1610 , 35.44(133%) : .. qSSy,� .., SA1eS(l;t 2•'s) PfOtf?SS1nn01(17 6%1 j 5.19(20 2%) . 1 Ser y:cos(16 2%) 25.34 1130%) 20.24(7.9%) 2007 Owner Occupied NUS by value S200-2';4ii 99K•l22a) 400.49'6(6(0 7•.r 5500K.(0 7`:) S100.19914(47 1%1^- ,5100((394%1 Source:U S Sufeau of the Census.2000 Census of Populalron and Mousing ESRI brecesls for 2007 and 2012 • SHANERAPPRAISALS, INC. Demographic Reports • 114 Downtown Salina H.D. Lee Complex Sa vPad got®._ • Comprehensive Trend Report Prepared by Shaner Appraisals Places:Salina cny,KS Demojraphtc 2007 Estimate 2012 Estunate Population; Population 46,458 47 C9? Persons in Group 1.356 1 35E Ittl3Ehalds: Househo'ds 18 953 19.248 Fanuly Househc4os 11.950 11.986 Average HOUtehOd Size 2 38 2.38 Population by Race and Ethnicity: Too at 48.457 47,090 White 39.597 39,154 Brach 1,749 1.837 American IncliarVAlaska Native 267 274 Asian 1,244 1,553 Pacific Islander 29 36 Other Race 2,353 2,894 • Toro or More Races 1,218 1,342 Hispanic Poptiaron 4.167 5,117 Population by Sex: Mat 22.851 23,177 Femme 23,607 23,910 Income: Median Househo-d Income 48,256 54.277 Average Househod Income 57.317 66.55.6 Medan Family income 57,966 69,102 A.,erage Fora ly Income 69.777 65.308 Per Ca04a Income 23.811 28.496 Medan 0.sposable Income 37,169 average D.spossable Inome 44,657 - Net WoBh: Medan Net Sore 84,655 - Housing Units Oxner-Occup ec 12.655 12.9% Renter-Occupied 6,098 6,249 Source ESRI forecasts for 2007 and 2011 • SHANER APPRAISALS, INC. Demographic Reports • 115 Downtown Salina H.D. Lee Complex • saLZ2,7s Comprehensive Trend Report Prepared by Sharer Appraisals Places:Salina city.KS 2007 2012 Population by Ave Number Percent !lumber Percent Tara 46.458 1000% 47,287 100.0% 0-4 3.334 7.2% 3,379 7.2% 5-9 2.977 64% 2,979 63% 10.14 3.138 6.8% 2979 6.3% 15-19 3.265 7 0% 3,307 7.0% 20-24 3,671 7.9% 3,456 7.3% 25-29 3,329 7.2% 3,539 7.5% 30-34 2.702 5 8% 3,025 6.4% 35.39 3,001 6.5% 2,574 5.5% 40.44 3.186 6.9% 3,020 6.4% 45.49 1387 7 3% 3,213 6.8% 50-54 3,306 7.1% 3,279 7.0% 55-59 2,653 5 7% 3,322 7.1% 60.64 1,996 4.3% 2443 5.2% 65.69 1,620 3.5% 1,728 17% 70-74 1,330 2.9% 1,362 2.9% 75.79 1.372 3.0% 1,136 2.4% 80-84 1,108 24% 1,142 2.4% g5« t 2.3% 1,204 2.6% • 38.4 Median Aye 36 4 38.7 Population by Age•Males Tate' 22.851 100 0% 23,177 100.0% 0.4 1,675 7 3% 1,702 7.3% 5-9 1,483 8.5% 1,505 6.5% 10.14 1,705 7.5% 1,516 6.5% 15.19 1,661 7.3% 1,809 7.8% 20-24 1,883 8.2% 1,712 7.4% 25-29 1.792 7.8% 1,824 7.9% 30.34 1,378 6.0% 1,808 6.9% 35-39 1,586 6.9% 1,307 5.6% 40.44 1.630 7.1% 1,577 6.8% 45-49 1,631 7.1% 1,613 7.0% 50-54 1,679 7.3% 1,573 6.8% 55-5,9 1,228 5.4% 1,647 7.1% 60.64 966 4.2% 1,125 4.9% 65.89 722 3.2% 813 3.5% 70.74 603 2.6% 590 2,5% 75.79 519 2.3% 483 2.1% 80-54 392 1,7% 404 1.7% 85. 340 1.5% 369 1.6% Median Age 34 5 - 34 7 - Souree.ESRI forecasts for 2007 and 2017 S SHANERAPPRAISALS, INC. Demographic Reports • 116 Downtown Salina H.D. Lee Complex sa Comprehensive Trend Report Prepared by Shaner Appraisals Places:Salina city.KS 2007 2012 Population by Ape•Females Number Percent Number Percent Tara 23.607 100 0% 23,910 100.0% 0.4 1,669 70% 1.677 7.0% 5.9 1,494 6 3% 1,474 92% 10-14 1.433 6 1% 1.463 6.1% 15•19 1604 68% 1.498 6.3% 20.24 1.788 7 6% 1,744 7.3% 25.29 1,537 6 5% 1,715 7.2% 30-34 1.326 5 6% 1,417 99% 35.39 1,435 61% 1.267 5.3% 40-44 1.556 6 6% 1,443 6.0% 45-49 1,756 74% 1.600 6.7% 50.54 1,627 69% 1.706 7.1% 55.59 1.426 6 0% 1.675 7 0% 60•64 1,030 4 4% 1.318 5,5% 65-69 898 3 8% 915 3.8% 70.74 727 3 1% 772 3.2% 75-79 853 3 6% 653 2.7% 80-84 716 30% 738 3.1% 85. 743 3 1% 835 3.5% Median Age 38 4 - 38.8 S Honl4J olds Ny Hottsekol j,Jilr,,it Total 18.954 100 0% 19.247 100.0% 510,000 1,395 7 3% 1,164 6.0% 510.000 514,999 822 43% 678 35% $15.000.519999 1.067 5 6% 799 4.2% 520,000.524,999 1,031 54% 911 4.7% 525000.529.999 1.123 59% 879 4.6% $30.000.534.959 1.133 6 0% 1,052 6.5% 535.000.639.999 1,236 6 5% 977 5.1% 540.000.544,999 1,361 7 2% 1.015 5.3% 545.000-S49.999 1,148 6 1% 1,132 5.9% 550.000-559.999 1,995 10.5% 2,127 11.1% 560 000.574.999 2.258 11 9% 2.442 12.7% 375.000•599.999 2.392 12 6% 2.726 14.2% 5100.003•5124.999 874 4 6% 1.500 7 8% $125,000-5149,959 438 2 3% 771 4.0% 5150.003.$199.599 363 19% 560 2.9% 5200.000•5249999 151 0 8% 229 1.2% 5250.000.$499.959 143 08% 210 1.1% 5500.003,• 29 02% 75 04% Source ESRI forecasts for 2607 and 2012 SHANER APPRAISALS, INC. Demographic Reports • 117 Downtown Salina H.D. Lee Complex • sa�PP�o CIS.. Comprehensive Trend Report Prepared by Shaper Appraisals Places:Salina city.KS _. 2007 2012 families by F_roily In come• (lumber Percent Number Percent Total 11,979 1000% 11.985 100 2% <510,000 421 3 5% 397 3.3% $10.000.$I4.999 240 2.0% 176 1 5% 515,000-$19,999 312 26% 205 17% 520.000-524,999 536 4 5% 350 2 9% 525.000-529.999 514 4.3% 385 3 2% $30,000.534.999 555 46% 473 3.9% 535.000-539.999 631 5.3% 417 3 5% 540.000.544,999 751 6.3% 567 4 7% 545,000.549,999 771 6 4% 583 4 9% 550.000-559.999 1,516 12.7% 1,352 11 3% 560.000.574,999 1,749 14 6% 1,637 13 7% 575.000.599,999 2,148 179% 2,234 18.6% 5100,000.$124.999 765 6.4% 1,579 13 2% 5125,000 5149,999 453 3.8% 504 5.0% 5150,000-5199.999 335 2 8% 544 4 5% 5200,000-5249.999 139 1.2% 242 2 0% 5250,002-5499.999 123 10% 180 1 5% 5500.000• 20 0 2% 58 0 5% jiouseholds by Oisosable nicer==: Total 18,954 100.0% <515.000 2.652 14 0% 515.000.524,999 2,680 14 1% $25.000.534.999 3,297 17.4% 535.000.549.999 4.115 213% 550.000.574.999 4,338 22 9% 575,000-599.999 916 4 8% S100.000.5149.9$9 669 3.5% $150.000.$199.999 181 1.0% 5200.000• 1043 0.6% ithathcaulyikbeitglx, Toa 16.954 100.0% <515.000 5.172 27.3% 515.000-534.999 1.641 8 7% 535,000•549.999 904 4 8% 550.000-S74,999 1,301 6 9% 575.000.599,999 1,056 5 6% 5100,000.$149.999 1.443 7.6% 5150,000-5249.993 2,196 11 6% 5250.000.5499,999 2,751 14.5% 5500.000+ 2,490 13.1% Save&E$RI tereeasas tot 2007 and 2012. • SHANERAPPRAISALS, INC. Demographic Reports • 118 Downtown Salina H.D. Lee Complex 5a Comprehensive Trend Report • Prepared by Shriner Appraisals Places:Salina city.KS Consumer Expenditures(2007) Total(S000) Retail Summary: Retail E.pendrtures Iota- 387.393.579 Apparel: Appaare:and Senates:Total 537,219.181 Men's Apdare; Total 56.900.188 Women's Apparel:Total $12,666,125 Children's Apparel Total 56.224.433 !Want Apparel(Under?'rears;Tota. 51.651.781 Footatear 56.040,826 Watches&Jev.ery 52.956293 C Apparel and Services 52.431,316 Frhrnamnm Educator Tatar 520:915 374 Scholl Books 8 Supp+tes Tota 53.512,109 Tranennrlatinil f mall• Gasoline and Motor Cd:Total 529,762.382 Vehicle Maintenance 8 Repars Tota 515.682.706 Vehicle Insurance Toter 521,767133 Fntertaitmetrt)Recreationt Entertainment 8 Recreawn Total 550,809.953 Fees and Admasrons Total 59,216.207 Membership Fees for Social/Reoreatron'Ctiic Clubs Total 52,420.488 Fees for Participant Sports.exc.:'rrps Total $1,731,221 Admission to Mtrnell'heatreiOpera/Ealet Iota 52,267,298 Admission to Spcxtifx9 Events,exCl Trips:Tota 5895.438 Fees to Recreational Lessons Total 51.901.762 T'IMdeoISound Equipment Total 517,963.139 Community Antenna or CableTelerrson 510,324.t04 Color 1\s Total 52,091.860 VCRs,,Adeo Cameras,and O'JO Players:Total 5600.127 Video Cassettes and Ct/Os Total 5943.459 Video Game Hardware and Software.Tote! 5509.855 Satellite Dates Tote! 521.175 Rental of`✓deo Cassettes and CDs:Total 5953,491 Sound Equipment Total 52.428.438 Rental or IV CR'Sound Equipment Total 525.871 Repair of TV&Sound Equ.pnsent:Tote' $64,719 Pets.Total $6.309.095 Toys and Games Total 52.812.720 Recreational Ve trtes and Fees:Total 56.120.014 SportsrRecreatiomExeruse Equpment.Tots. 52,941,061 Photo Equipment and Stipples:Total 52.142.630 Fibn Processing Total $580,523 Reading Total 53.305,087 source:E.pendaure data are denved Mom the 2001.2002.and 2003 Consumer Expend:ute Surreys.Bureau of labor StalisItts ESRI forecasts for 2001 SHANERAPPRAISALS, INC. Demographic Reports • 119 Downtown Salina H.D. Lee Complex • Comprehensive Trend Report Prepared by Shane' Appraisals Places:Salina city.KS Consumer Expenditures(2007) Totar($000) Lae Insurance/Pensions: Life:Other Personal Insurarce Total $9.229,649 Earth Cue; Heat%Care Toga 559,833,578 Hearh Irsurarce Total $30.200,449 Nonprescription Drugs $1,885,538 Presaiphon Drugs $9-014,248 Eyegasses and Contact Lenses Tota 51,276,747 Food Services: Food at Hone 574.591,006 Bakery and Cerea Products $10,734,578 Meat Pou try.Fish and Eggs $19,301,317 Dairy Products $8.156,130 Fruits and'':egetau es 512.669,763 Snacks and Other Food at Home $23,529,218 Nonalcoholic Beverages at Home 56,453,341 Food away from Horne•Mea sat RestaurantslOther Total $51.162,570 A cohalic Beverages $9493,733 Housing Shelter Tota' $220.264,169 Mortgage Payment&Basics:Iota! 5125.667,011 • Owned Dwellings Maintenance&Remode:ng Services:Total 528,004,557 Maintenance&Rerrlpde'tng Mater als Tota $5,279,021 ParndWatpaperfSupoles rota $354,538 Rented Dwellings Maintenance&Rernode'm9 Services:Totar $427,798 Maintenance&Remodeling Matenals.Tota. $162,117 Pantma 1paper/Supp?tes'Tota 521,798 Uh'ues7FueltPublic Services Toad 567,053,889 Telephone Services Total $23,137,496 Insurance-Owners&Renters:Tota 57.256,032 lionstlictlitGootal H.ousehad Teataes:Total 52.054,186 Fum:hte Total 59.514,7$7 Floor Coverings Total $1,305,460 Majortppkances Total 54 232,3S6 Housewares:Total 51.453,862 Small Appliances-Total 5553,991 Luggage Total $159,998 Telephones and Accessories Tota 5599,366 Housekeeping Suppt:es-Total S 11,703,511 Computer&Hardware for Home Use.Total 53,311,739 Sotware 8 accessories for Home Use Toted $458.95.9 Source-Expenditure data are derived from the 2001.2002,and 2003 Consumer Expenditure Surveys,Bureau of Labor Statistics.ESRt forecasts for 2007 • SHANER APPRAISALS, INC- Demographic Reports • 120 Downtown Salina H.D. Lee Complex sa •Comprehensive Trend Report Prepared by Shatter Appraisals Places:Sauna city,KS Consumer Expenditures(2007) Total(5000) Personal Care: Persona:Care Products Total $7,147.374 Persona:Care Services Total 55.284.166 a Ftn_._ -+I Intesfrients Total $24.767.506 \thic e Loan,Total 593 851,285 Household Services: Computer Ulm-nation Services 52.951,894 Chad Care 56.421.676 Laren 8 Garden 56,356.307 Moving:Storage/Freight Express $768,563 Housekeeping Services 51.990.255 Tranenortahon! o ,n: Vehicle Insurance.Tota 521,787,133 Vehicle Purchases(Met Outayl'Total 583.787.776 Gasoline:Total 529.545.024 Motor Oil:Iota) $217,358 Vehicle Maintenance and Repairs.Total $15.682.706 Smolt Travel'Iota 527.669 745 /chine Fares:Total 55.035.212 Lodgiriq on Trips Total S6 067.049 sutcaruck ion Rental on Trips:Total 5646.265 Food and Drink on Trips:Total 57.085 5{'x4 Miscellaneous Expenses: Smoking Products:Total 57.687 X40 Source•Eapendnur•data are derived from the 2001.2002.and 2003 Consumer Expenditure Surveys.Bureau of l abut Stansncs E SRI forecasts tot 2007 • SHANER APPRAISALS, INC. Demographic Reports • 121 Downtown Salina H.D. Lee Complex • sa .8ah.. Comprehensive Trend Report Prepalect by Shaner Appraisals Places:Salina city.KS 2000 Population 25.by Educational Attainment Iota 29,352 Less than 9th Grade 4.6% 9th•12th Grade,110 Diploma 9.2% High Sehoo'.Graduate 34,5% Some College.rio Degree 256% Associate Degree 5.8% Bache:or's Degree 14.0% Master'srProtIDoctorate Degree 6 3% 2000 Households by Type Iota 18,523 gamy Houuseho'ds 64 1% Married-couple Fansty 49.8% With Related Children 22.7% Other Family No Spouse: 14 3% With Related Children 10.5% Nonfan>t y Households 35.9% Householder Living Alone 30.1% Householder Not Living Alone 5.7% Households with Related Children 33.1% • Households with Persons 65• 24.0% Source ESRI forecasts for 2001 and 2012 S SHANER APPRAISALS, INC. Demographic Reports • 122 Downtown Salina H.D. Lee Complex Standard Map Prepared by Shaner Appraisals June 22,2007 Delphos) A _...._ _..... _.. .County Hwy 404 3 = N C .y ..A: �I;,, o a1� 1 Barnard V T. i > c g q 31 A N 0 st 'i - 10th St _ - .Limestone Rd A ranq St Ra•' v1, It lowa"Rd 1I zy County Hwy 426 A g a SALINA,KS MICROPOLI-AN STATISTICAL AREA II .:,Ili 'tl tti u,:�,a ' Benningtorl _. . _ n,R,,;,0oa - ------------ la; -0 Tescott a a a .0 a .n . r 11' •• • L a m SALINA,KS MICROPOLIT N STATISTICAL AREA _. Kan as v Abilene i�t ct .. .1■0 rn m 70. lo7l�AQ... .Z A 1900 Ave • 13 x ee Z i_.. ,1 , _.Country.Club Rd. ...1700 Ave W Ct'awt _..� g . ' Li ,-E o O 0 OId.Ua Hwy 40•} _� v Salina n3 n S,nolan 135 t tus'_roorI Rock Stale?a'' ' 4-Gypsum W ■•, Carlton , o Aissaria - • Susroijl CO x .1t um) K.ar,Opehs Slate Park a A e1S 0 2007 SSRI,Tale Aft .'1� CBSAs: Salina. KS Micropolitan Statistical 24 ,, Area rtitch II Cl I, on l 11RW SalOPPrrarunls . LI'C81=81:...1 71'..ii,'r''I r. 4 '. "al"M �. .::r_ 15 I : ,�y' 415.0110 I }}��- E '.8 ... --Mortoi( ' .. i SHANER APPRAISALS, INC. Demographic Reports • 123 Downtown Salina H.D. Lee Complex • le- Community Summary I Prepared by Shaner Appraisals CBSAs:Salina.KS Micropolltan Statistical Area Summary 2000 2007 2012 Population 59,760 61,339 62.465 Households 23.866 24.623 25.111 Families 15.928 16,209 16,313 Average Household Size 2A4 2.42 2.42 Omer Occupied HUs 16,793 17.692 17.997 Renter Occupied HUs 7,073 6,931 7.114 Median Age 36.5 37.9 38.6 Total Housing Units 25.450 26.541 27-222 Vacant Housing Units 1,584 1.918 2.111 Average Home Value 596,767 $133-362 $154.778 Total Businesses • 2.317 - Total Employees - 18,851 - 2000 2007 2012 Households by Income Number Percent Number Percent Number Percent 51.5.000 3,594 15.0% 2.751 11.2% 2.317 9.2% 515.000.524.999 3.536 14.8% 2.626 10.7% 2.181 8.7% 525.000-534.999 3,871 16.2% 2.908 11.8% 2.530 10.1% 535.000-549.999 .4,845 202% 4,842 19.7% 4.131 16.5% 550.000-574.999 4.999 20.9% 5.620 22.8% 5.969 23.8% $75.000.599.999 1,705 7.1% 3.177 12.9% 3.590 14.3% II m0.000_5149,999 903 3.8% 1.791 7.3° 3.009 12.0% 5150.000.5199.000 218 0.9% 483 20 0 717 2.9% 5200.000+ 260 1.1% 425 1.7 4 667 2.7% Median Household Income 537.443 547,093 $54.606 Average Household Income 546,508 558,263 568.852 Per Capita Income $18,928 523.782 $28.116 2000 2007 2012 Population by Age Number Percent Number Percent Number Percent 0-4 4.062 6.8% 4.211 6.9% 4.252 6.8% 5.14 8,741 14.6% 7.922 12.9% 7.866 12.6% 15•19 4.618 7,7% 4.375 7.1% 4,265 6.8% 20-24 3.578 6.0% 4.639 7.6% 4.206 6.7% 25-34 7.518 12.81 7.316 11.9% 8.187 13.1% 35-44 9.359 15.7% 8.195 13.4% 7.319 11.7% 45.54 8.051 13.5% 9,441 15.4% 9.325 14.9% 55-64 5.267 8.8% 6.565 10.7% 8.086 12.9% 65•74 4.343 7,3% 4.088 6.7% 4.377 7.0% 75•84 3,039 6.1% 3.161 5.2% 3,013 4.8% 85+ 1.184 2.0% 1.426 2.3% 1.569 2.5% 2000 2007 2012 Race and Ethnicity Number Percent Number Percent Number Percent White Alone 53,805 90.0% 53.979 88.0% 53.939 86.4% Black Alone 1.693 2.8% 1.834 3.0% 1.930 31% American Indian Alone 302 0.5"x. 319 0.5% 329 0.5% Asian Alone 91$ 1.5% 1,286 2.1% 1.607 2.6% Pacific Islander Alone 23 0 0".. 31 0 1% 38 0.1:4 Some Other Race Alone 1.806 3 O'U 2.480 4.0% 3.060 4.9% T::o or More Races 1.213 2 0% 1.410 23% 1.562 2.5% Hispanic Origin(Any Racal 3.308 5 590 4.549 7 4% 5.613 9.0% Data Note:Income is expressed in ctarent doors Source:11 S Bureau of the Census 2000 Census of Population and Housing F.SRi'precasts he 2007 and?012 v.e F errcctive as c ,`r 1 70o7 Rosiness data provided by Acxrum Copyright 2007 all rights reserved 0 SHANER APPRAISALS, INC. Demographic Reports • 124 Downtown Salina H.D. Lee Complex CBSAs:Salina.KS Mlcropolitan Statistical Area • 2000-2007 Population Annual Rate 0.-12% 2007-2012 Population Annual Rate Total Population us000— _ 59760 55o0o... 54015 !-,0000— 45000- 412000-- 35660— 30000- 25000- 20000.... t5000- 10000— 5000.... 0_. Source U.S Bureau of the Cersds 2000 Census of Pop,,Iat.on and Rous,rr ESRI converted 1990 Census data into 2000 geography.ESRI forecasts for 2007 and 2012 SHANERAPPRAISALS, INC. Demographic Reports • 125 Downtown Salina H.D. Lee Complex • a1-. Detailed Age Profile Prepared by Shaner Appraisals CBSAs:Salina,KS Micropolitan Statistical Area Census 2000 2007 2012 2007-2012 2007.2012 Change Annual Rate Populotton 59,760 61,339 62,465 1,126 0.36% Households 23,866 24,623 25,111 488 0 39% Average Household Size 2 44 2 42 2 42 0 0% Total Population by Detailed Age Census 2000 2007 2012 Number Percent Number Percent Number Percent Total 59,760 100 0% 61,339 100.0% 62,465 100 0% <1 787 1.3% 861 1.4% 865 1.4% 1 867 1 5% 877 1.4% 890 1 4% 2 832 14% 837 1.4% 844 1-4% 3 754 1 3% 795 1.3% 811 1.3% 4 822 1.4% 841 1.4% 842 1.3% 5 851 1 4% 771 1.3% 780 1 2% 6 874 1.5% 781 1.3% 792 1.3% 7 814 1.4% 741 1.2% 756 1.2% 8 895 1.5% 775 1.3% 787 1.3% 9 852 14% 777 1.3% 767 1 2% 10 879 1.5% 807 1.3% 785 1.3% III 11 918 1.5% 824 1.3°J° 810 1.3% 12 840 1.4% 800 1.396 777 1.2% 13 880 1 5% 829 1.4% 805 1 3% 14 938 1.6% 817 1.3% 807 1.3% 15 975 1 6% 901 1.5% 880 1 4% 16 929 1.6% 838 1.4% 829 1.3% 17 923 15% 829 1.4% 828 1.3% 18 945 1.6% 905 1.5% 877 1.4% 19 846 1 4% 902 1 5% 851 1.4% 20-24 3,578 6.0% 4,639 7.6% 4,206 6.7% 25-29 3,629 6.1% 3,915 6 4% 4,506 7.2% 30-34 3,889 6 5% 3.401 5 5% 3,681 5.9% 35.39 4,598 7 7% 3,789 6.2% 3,304 5 4% 40.44 4,761 • 8.0% 4,406 7 2% 3,025 6.3% 45-49 4,374 7.3% 4.845 7.9% 4,571 7.3% 50.54 3,677 6.2% 4,596 7.5% 4,754 7.6% 55-59 2,860 4.8% 3.694 6 0% 4.658 7.5% 60-64 2,407 4.0% 2.871 4 7% 3,428 5.5% 65-69 2,201 3.7% 2,260 3.7% 2,497 4.0% 70-74 2,142 3.6% 1.828 3.0% 1,880 3.0% 75.79 1,787 30% 1,771 29% 1,549 2.5% 80.84 1,252 2.1% 1.390 2 3% 1,464 2.3% 85* 1,184 2.0% 1,426 2.3% 1,569 2.5% <18 15,830 28.2% 14,701 24.0% 14,655 23.5% 18* 44.130 73.8% 46,638 76.0% 47,810 76.5% 21* 41.574 69.6% 43,884 715% 45.208 724% Median Age 36.5 37 9 38.6 Data Not*:De:at may na sum to togs Due to rana:nJ. Source:t S.Bureau of ine COM M.2003 Census of Poputau a and Housnq.ESRr forecasts gar 2307 aru120f2 S SHANER APPRAISALS, INC. Demographic Reports • 126 Downtown Salina H.D. Lee Complex Si approlneln. Detailed Age Profile Prepared by Shaner Appraisals CBSAs:Salina.KS Micropolitan Statistical Area Total Population by Detailed Age OC 1 I 29 30 4 50 60 70 8. 2 3-11111111111.111111. 4 5-.11111111111111W a 7-1111111.10111 8-1111111111111111111T 4-11111111111111110111. 10--IlWaffallffiffilir 11 12-41110111 , 13 14-111/1.1111111111ria 1$ 16-11111•111■111111ra iX 174 to 41111111111111Millr 19 20.24 25-29 30.34 35.39 40-44 45-49 50.54 55-59- r 60.64 65.68 70.74 75.79 • • 80.84 85- --1 =Census 2000 11.2007 1-12012 Soaee:U.S Bureau of en Census.2000 Census of PCaMaaon ana Howoq.ES RI precasts to 2007 and 2012 • SHANERAPPRAISALS, INC. Demographic Reports • 127 Downtown Salina H.D. Lee Complex • ehanor . SaStra rr el Detailed Income Profile Presumed by Shaner Apprats 4s CBSAS:Selina,KS;Ala opo14an Statistical Area Census 2000 2007 2012 2007.2012 20072012 Change Annual Rate Popua'rrn 59.760 61.339 62,465 1.126 0 36% Housenaws 23,868 24823 25,111 488 0 39% Average household Size 214 2 42 2 42 0 0% Pansies 15.428 16.209 16.313 104 013% Average Fam4y Sae 2.98 2.96 296 0 0% Census 2000 2001 2012 Number Percent Number Percent Number Percent Noueeho460 by Income NN Income Base 23.931 100 0% 24,623 100.0% 25.111 100.0% •$10,000 2,028 8.5% 1,708 6.9% 1437 57% $10.000.514,999 1,566 6.5% 1,043 4.2% 880 35% S15,000-519.999 1,754 7.3% 1,332 54% 1.031 4.1% 520.000-524.999 1.782 7.4% 1,294 5.3% 1,150 46% 525,000-529.999 1,717 7 2% 1.445 5 9% 1,152 4.5% 530.000-534.999 2,154 9.0% 1,463 59% 1.378 5.5% 535,000-639.999 1,830 7 7% 1,820 6.6% 1.279 5.1% 640,000-544.999 1,656 6.9% 1,749 7.1% 1,388 5 5% 545.000.549,999 1,350 5.6% 1,473 8.0% 1,464 5.8% 550,000.559,999 2,468 10 3% 2,590 10 5% 2.735 109% 560.000-574.999 2.531 10.6% 3.0.10 12.3% 3.234 12 9% 575,000-699.999 1.705 7.1% 3,177 129% 3,590 14.3% $100,000-5124.499 642 2 7% 1.224 5 0% 1.981 7.9% 5125,000.5149,994 261 1.1% 567 2 3% 1.028 4.1% 5150,000-5199.999 218 0.9% 483 2 0% 717 2 9 • % $200,000.5269.499 260 1 1% 190 0 8% 295 1.2% 5250.000.5499,999 NIA 197 0 8% 276 t 1% 5500,000- WA 38 a" 86 0 4% Median Household Incgrro 537443 547.093 554.806 Average Household Income 546,505 558,263 568.852 Per Capita income $18,928 523,782 $24.116 FmltMes by Income Fanrry income Base 16,101 100 0% 16,209 100 0% 16.313 1000% ••SI0,000 621 3.9% 510 3 1% 482 3.0% 510.000•514.999 557 35% 316 19% 241 1 5% 515.000.519.999 880 5.5% 430 2.7% 293 1 8% 520,000-524.999 892 55% 707 44% 499 31% 575,000.529.999 462 6 0% 739 4 6% 543 3.3% 530,000-534,999 1,252 7.8% 752 4.6% 684 4 2% 535.000•539,994 1,301 8 1% 910 5 6% 598 3 7% 540.000-544.999 1,394 8011 1,020 6.3% 830 5.1% 545,000.549,999 1,056 65% 1,043 6.4% 839 5.1% 550400-59.999 2.153 12 4% 2.030 12.5% 1.841 11.3% 560,000-574,999 2.300 14 3% 2,378 14 7% 2 250 13.9% 575.000-599,599 1,574 9.8% 2,847 17054 2,980 18.3% 5100.000-5124.09 570 3.5% 1,124 69% 2074 12.7% 5125,000.5149,999 243 1.5% 595 3 704 045 5 3% 5150.000-5199.999 212 1.3% 428 2 656 695 4.354 5200.000.5249.999 224 1 4% 174 1 1% 301 1.8% 5250.009-$499.999 WA 177 1.155 241 1.5% 5500,000- NIA 29 0.214 77 0 5% Megan Family Income 546,251 $57.945 567,793 Average Fam ly Income 555,578 569,895 564 160 Data Note:Intone reprewlts the anrual Income for the yrecedn9 pear,expressed m cun'el1 claim's,i^zvdr'4 31 ad,uEment for inlax.n:for 2057 and 25121 In 2003,the Census Bureau reported none:o an uaaer',atonal 07 8200.080• ESP,forecasts e.1e'M;^cone's 55:0 000-NA means Not Avatah'e Source:1,S Bureau of the Census,2000 Census of Por ruaon and Houang.ESP:forecasts for 2207 and 2012 S SHANERAPPRAISALS, INC. Demographic Reports • 128 Downtown Salina H.D. Lee Complex sa ep®leis- • Age by Income Profile Prepared by Shaner Appraisals CBSAs:Salina.KS Micropolitan Statistical Area Census 2000 2007 2012 2007-2012 2007-2012 Change Annual Rate Population 59,760 61,339 62,465 I 12,3 0 36% Households 23,866 24,623 25,111 •w.�a 0.39% Median Age 36 5 37 9 38,6 (17 0 37°0 Census 2000 Households by Income and Age of Householder <26 25-34 36-44 45.54 55.64 65-74 75+ HH Income Base 1,344 3,935 5.332 4,607 3.165 2,689 2,859 410,000 225 291 214 199 313 271 515 510,000-S14,999 136 210 264 146 173 245 392 $15,000-S24,999 404 613 534 522 382 497 584 S25,000-534.999 310 794 819 526 424 503 495 $35,000.549.999 182 918 1,249 912 615 531 438 S50,000-574.999 79 858 1,509 1,244 671 387 251 575,000-599,999 0 138 447 627 313 98 82 5100,000-$149.099 8 88 174 257 201 104 71 5150,000-$199,999 0 13 60 77 39 23 6 5200.000+ 0 12 62 97 34 30 25 III Median HH Income 521,678 $35,883 $44,362 S49,969 $41,690 $31,532 $23.499 Average HH Income $24,283 539,488 $52,963 560.239 S49,532 541,664 $33.684 Percent Distribution <26 25-34 35-44 45.54 55.64 65-74 75+ HH Income Base 100.0% 100 0% 100 0°.a 100.0% 1000% 100 0% 100 0% <S10,000 167% 7.4% 40% 43% 9.9% 101% 180% 510,000-514,999 101% 5.3% 50% 3.2% 5.5% 9 1% 13 7% $15.000.524.099 30.1% 15.6% 10.0% 11.3% 12.1% 18.5% 20.4% 525.000-S34.999 23.1% 20.2% 15 4% 11.4% 13.4% 18.7% 17.3% 535,000-549,999 13.5% 23 3% 23.4% 19.8% 19.4% 19.7% 15.3% 550.000-S74.999 5.9% 21.8% 28.3% 27.0% 21.2% 14.4% 8.8% 575.000-599,909 0.0% 3.5% 8.4% 13.6% 9.9% 3.6% 2.9% 5100.000-$149,999 0.6% 2.2% 3.3% 5.6% 6.4% 3.9% 2.5% 5150,000-$199.999 0.0% 0.3% 1.1% 1.7% 1.2% 0.9% 0.2% 5200,000+ 0.0% 0.3% 1.2% 2.1% 1.1% 1.1% 0.9% Data Note:Census 2000 income is expressed in current(1999)dollars. Source:U S Bureau of the Census.2000 Census of Population and Housing.ESRI forecasts for 2007 and 2012 • SHANERAPPRAISALS, INC. Demographic Reports • 129 Downtown Salina H.D. Lee Complex • 11 «I•- Age by Income Profile Prepared by Shaner Appraisals CBSAs:Salina,KS Micropolitan Statistical Area 2007 Households by Income and Age of Householder <26 25-34 35-44 45-54 65-64 66-74 75+ HH Income Base 1,505 3,779 4,551 5,384 3.854 2,558 2.992 415,000 327 412 271 265 386 375 715 S15,000-524,999 356 427 346 432 286 364 415 525,000-$34,999 284 565 482 436 396 361 384 535,000-549,999 177 871 1,057 1.045 673 508 511 $50.000-574,999 143 1,009 1,360 1.440 849 458 361 S75.000-599.999 98 295 666 1.032 624 182 280 S100.000.5149,999 70 156 219 447 465 207 227 S150.000.5199,999 35 32 72 140 81 56 67 5200,000-5249,999 13 10 36 56 37 15 23 $250,000.$499,999 2 2 34 78 47 26 8 5500,000. 0 0 8 13 10 6 1 Median HH Income 526,816 541.841 $51,252 556.308 $53.771 539,033 $34,388 Average HH Income 540.603 547,891 S60.560 569.885 567.471 554,182 $47;470 • Percent Distribution <25 25.34 35-44 45-54 55.64 65.74 75+ • HH Income Base 100 0% 100.0% 100 0% 100.0% 100 0% 1000% 100 0% <$15,000 21.7% 10.9% 6 0% 4 9% 10 0% 14 7% 23.9% 515,000-524.999 23.7% 11 3% 7 6% 80% 7 4% 14.2% 13 9% 525,000-534.999 18 9% 15.0% 10 6% 81% 10.3% 14.1% 12 8% 535,000-549.999 11.8% 23.0% 232% 19.4% 17 5% 199% 17 1% 850,000-S74,999 9.5% 26.7% 299% 26.7% 22 0% 179% 12 1% $75,000-599,999 6.5% 7.8% 14 6% 19.2% 16.2% 7 1% 9.4% 5100,000-$149,999 4.7% 4.1% 4 8% 8.3% 12.1% 8.1% 7 6% S150.000-$199.999 2.3% 0.8% 1.6% 2.6% 2 1% 2.2% 2 2% $200,000-$249,999 0.9% 0.3% 0.8% 1.0% 1.0% 0.6% 0.8% 5250.000-$499,999 0.1% 0.1% 0.7% 1.4% 1.2% 1.0% 0.3% 5500.000• 0.0% 0 0°0 0 2% 0 2% 0.3% 0.2% 0,0% Data Note:Income reported for July I,2007 represents annual income for the preceding year.expressed in current(2006)dollars.including an adjustment for inflation Source:ESRI forecasts for 2007. S SHANER APPRAISALS, INC. Demographic Reports • 130 Downtown Salina H.D. Lee Complex sa HGfr- afli.. Age by Income Profile III Prepared by Shaner Appraisals CBSAs:Salina.KS Micropolitan Statistical Area 2012 Households by Income and Age of Householder <25 25-34 35-44 45-54 56-64 65-74 75+ HH Income Base 1,419 • 4,130 4,021 5,200 4,639 2,756 2946 415.000 256 353 225 207 355 316 605 515.000-524.999 294 372 246 331 285 327 326 525.000-S34.999 215 507 382 355 406 328 337 S35.000-549,999 146 833 764 865 636 470 417 550,000-574,9999 182 1,191 1,272 1,399 1.010 521 394 575,000-S09.999 130 454 618 1.027 746 271 344 5100.000-5149,999 132 307 306 641 868 352 403 S150.000-$199.909 48 71 112 168 135 102 83 5200,000-$249.999 16 32 36 73 81 27 30 5250.000.5499,999 2 8 47 96 85 33 5 5500,000+ 0 2 13 38 32 9 2 Median HH Income 531,783 550,000 555,051 $62,183 $63,284 547,342 $41.183 Average HH Income $50,289 S56,900 S68,512 $80,763 $81,910 $65,165 S`6 873 Percent Distribution III <25 25-34 35-44 45.54 56-64 66.74 75+ HH Income Base 100 0% 100.0% 100 0% 100 0% 100.0% 100.0% 1000% <S15,000 18.0% 8.5% 5 6% 4 0% 7.7% 11.5% 20 5% 515,000-524,999 20 7% 9.0% 6.1% 6.4% 6 1% 11 9% 11.1% 525,000-S34,999 15.2% 12.3% 9.5% 6.8% 8.8% 11.9% 11.4% 535,000-549.999 10 3% 20.2% 19.0% 16 6% 13 7% 17 1% 14.2% 550.000.574,999 12.8% 28.8% 31 6% 26 9% 21.8% 18.9% 13.4% $75.000-599,999 9 2% 11.0% 15.4% 19 8% 16 1% 9•8% 11.7% 5100,000-$149999 9.3% 7.4% 7 6% 12 3% 18.7% 12.8% 13 7% 5150.000-$199.909 3.2% 1.7% 2 8% 32% 2.9% 3.7% 2 8% $200.000-$249,999 1.1% 0 8% 0.9% 1.4% 1.7% 1.0% 1.0% 5250.000-$499,999 0.1% 0.2% 1.2% 1.8% 1.8% 1.2% 0.2% 5500,000- 0.0% 0.0% 0.3% 0.7% 0.7% 0.3% 0 1% Data Note:Income reported for July 1,2012 represents annual income for the preceding year,expressed in current(2011)dollars,including an adjustment for inflation. Source:ESRI forecasts for 2012. • SHANERAPPRAISALS, INC. Demographic Reports • 131 Downtown Salina H.D. Lee Complex • CBSAS:Salina.KS Micropolitan Statistical Area 2000 - 2007 Civilian Employed Population 16- Annual I 3% Rate 2007 - 2012 Civilian Employed Population I6* Annual 0 7% Rate Total Civilian Employed Population 16+ fArea t 1 t scoa_ 33351 34523 30768 27137 25000- 30000 '15000 10000- 5000- 0 IWO 2000 2007 2012 Source: U.S.Bureau of the Census.2000 genius of Population and dousing.ESR1 converted 1990 Census data into 2000 geography,ESRI forecasts lot 2007 and 2012. • S SHANERAPPRAISALS, INC. Demographic Reports • 132 Downtown Salina H.D. Lee Complex CBSAS:Salina.KS Mrcropotitan Statistical Aria • 2007 Employed Civilian Population 16+by Industry •• Area 1 1 • Percent Illil 00 2J as 3c I;, i_p is 16.0 It Apnt„a•a.Faattry s,sn ep ana w,rup 2 3 Merl 0.1 Crc'os<,an 8 8 My u;trrl- 16 8 i■onotomm=iimm A'apt.ta•Trac. Moog 1.S hampanarwa'A'a.W.rsr+p 37 urst.. 0,6 i+brwawn 11 p'w.ea:'�ru,uaca 36 ROM isuthst.mas'.cswo 1 7 Voris en at So.+esc.+d lecaaua S.r+.c.s 3] Manaermsm ofCosn o'..vEn-ap"ns 0.1 Admrn.Saptvt.awl Wass Urn:Savors 2.4 Eaxasa+t Sars• 7 t 11111■11111 • • ,...'r,C•.•e1u,at Assnure. 14 8 • • • •reheawns,na..ns#.areanan Atea,maloor•7i@ai S.rne.f a 3 co..soma.. 4 7 ?vas:a.}w+.talrgr' 136 Data Note: Industry descriptions based on 2000 Census of Population and Housmp definitions. Source: ESR$forecasts for 2007. • SHANER APPRAISALS, INC. Demographic Reports • 133 Downtown Salina H.D. Lee Complex • sa gpprntenlo Demographic and Income Profile - Appraisal Version Prepared by Shaner Appraisals CBSAS,Salina.KS Mtcropolttan Statistical Area Summary 2000 2007 2012 Popwation 59,760 61,339 62,465 Households 23.866 24.623 25,111 Families 15,928 16.209 16.313 Average Household Size 244 2.42 2.42 Owner Occupied HUS 16.793 17.692 17.997 Renter Occupied HUs 7.073 6.931 7.114 Median Age 36 5 37 9 38.6 Wends:2007.2012 Annual Rate Area National Population 0 36% 1.30% Households 0 39% 1.33% Families 0 13% 1 75% Owner HHS 034% 1 i `. Median Household Income 3% 3 32% 2000 2007 2012 Households by Income Number Percent Number Percent Number Percent <515.000 3,594 15 0% 2,751 11 2% 2.317 9 2% $15.000.$24,999 3,536 14 8% 2,626 10 7% 2.181 8 7% $25,000.534.999 3,871 162% 2,908 11.8% 2.530 10 1% $35,000-549.999 4,845 20 2% 4.842 19.7% 4.131 16 5% $50,000-574,999 4,999 20 9% 5.620 22.8% 5.969 23 8% 575,000-599.999 1,705 7 1% 3.177 12.9% 3.590 14 3% • 5 E00.000-5139.999 903 38% 1.791 7.3°n 3.009 120% 5150.000-$199,000 218 0 9% 483 2.0°6 717 2 9% 5200.000. 260 11% 425 11% 667 2.7% Median Household Income 537.443 547.093 554.606 Average Household income 546,508 558.263 568.852 Per Capita Income 5113928 523.782 $28.116 2000 2007 2012 Population by Age Number Percent Number Percent Number Percent 0•4 4.062 6 8% 4,211 6.9% 4.252 6 8% 5.9 4.286 7 2% 3.845 6 3% 3,882 6 2% 10.14 4,455 7 5% 4.077 6,6% 3.984 6 4% 15-19 4,618 7 7% 4,375 7.1% 1.265 6 8% 20-24 3.578 6 0% 4,639 7.6% 4,206 6 7% 25-34 7,518 12 6% 7,316 11.9% 8.187 13 1% 35-44 9.359 15.7% 9.195 13.4% 7.319 11.7-. 45.54 8,051 13.5% 9,441 15.4% 9.325 14.9% 55.64 5,267 8.8% 6.565 10.7% 8.086 12.9% 65-74 4,313 7 3% 4.088 6.7% 4,377 7.0% 75-84 3,039 51% 3,161 5.2% 3.013 4.8% 85. 1,184 2.0% 1-426 2.3% 1,569 2.5% Data Note:I^Come is?•Dressed n C,,•renf 40113'l Source:J Eore3u at the cens..s.2D C Census o'Foculaticn and Harsirc ESRI!ctecasts for 2037 and 2C'2 • SHANER APPRAISALS, INC. Demographic Reports • 134 Downtown Salina H.D. Lee Complex sa eppra,eals_ • Demographic and Income Profile - Appraisal Version Prepared by Shaner Appraisals CBSAs:Salina,KS Mlcropoluan Statlsucal Area Trends 2007.2012 35-1 3-I' u z.5-{ c z. - 1 y 15 1r c c 05- 4 0: _ r.4u.i•:_n Hcuulaid5 %a,. es t s &Jun HH�nume Population by Ape 1a_ ..._...__.___.___._.___....__.--._-_.___.......__._..._.. _.__....__..__.._._._,_._..., 13_ 12- c 0- 1 u 8- 0 2007 sy X2012 A- 2- 11111111111 1 0-_....04 55 10 14__.till_..2024 -5 31 35 a- 5 s.._Y#fi4._.LI.......7544 s5. 2007 Household Income i $75K451112 Gs, $100K-5149%47.311) SSCK 74K(22 8% $35K-$4 (19 7,-4,1 s1S500•O1K691 - ..2%. %) K/11 8%) ^S7aKi112%) 8150(421K Ito 7% �1 F t • SHANER APPRAISALS, INC. Demographic Reports • 135 Downtown Salina H.D. Lee Complex • uM Sri apFaarntnar nclln.- Income-Employment Profile Pupated by 91141101 Appraisals CHSAs:Salina.KS Mlcfnpoldan Statistical Atria 1990 Census 2(100 2007 2012 Percent Change Count Percent Count Percent Count Percent Count Percent 19902000 20072012 Total Population 64,935 59.7E0 61,339 62.485 8 8% 1 8% Tool Households 22,092 23.666 24.623 25.111 8 0% 2 C,: Civilian Population 18.in Labor Force Cr.dran Employed 27.137 95 2% 30.768 96 5% 31351 94 9% 34,529 94 8% 13 4% 3.5% Ci.d,a,l nempky,ed 1.372 48% 1111 3.5% 1.785 51% 1,891 52% -190% 59% Households by Income Total 22.153 100% 23.931 100% 24.623 100% 25.111 100% 8 0% 2 0% -510.003 3,073 16 6% 2 028 8.5% 1,708 6 9% 1.437 5 7% -44 8% -15 9% 510.000•914.999 2.387 10 8% 1.568 6.5% 1,043 4 2% 690 3 5% -34 4% -15.6% 115.000-819 999 2.564 116% 1.754 7 3% 1,332 5 4% 1,331 4.1% -31 6% -22 6% 820.000.524.949 2,323 10 5% 1.782 7 4% 12294 5 3% 1.150 4 6% .23 3% •11 1% 125.000•$29.990 2,159 97% 1,717 7.2% 1,445 59% 1,152 46% -205% -203% 530,000-834.999 2,108 95% 2.154 90% 1,463 59% 1,370 5511 22% -58% 335,000-539.999 1.654 7 5% 1.839 7 7% 1.620 0 6% 1,279 5 1% 11 2% -21 0% 840.000•849.999 2,046 9 2% 3.006 12 6% 3.222 13 1% 2.852 11 4% 46 9% -11 5% 950,000-859.999 1,322 6 0% 2.468 10 3% 2.590 10 5% 2.735 10 9% 88 7% 5 6% $60.000-574.999 969 1 4% 2.531 10 6% 3.030 12 3% 3.234 12 9% 161 2% 6 7% 175,000-699.999 442 2 0% 1 705 7.1% 3.177 12.0% 3.590 14 3% 285 7% 13 0% 8100,000.5124,999 211 1 0% 642 2 7% 1,224 60% 1.981 7 9% 204 3% 61.8% $135 000.$149,999 54 0 2% 261 1 1% 567 2 391 1.328 4 1% 383 3% 81 3% 1150.000• 238 1 1% 478 2 0% 908 3 7% 1.384 5.5% 100 8% 52 4% Medan Household Income 525.281 537.443 547.093 554.606 48 1% 160% Average HousetWW Income 631.636 $46.508 658,263 656.852 47 0% 18.2% Per tarm income 517.865 518.928 923.782 928.116 47 1% 18 2t;, • Number Percent 2007 Households by Disposable Income TY.ai 24.623 100 0% 515 000 3.293 134% 515,000-924,999 3.412 13 9% 825.000•834.999 4.261 17 3% 835.000•$49.999 5.395 21 8% 550.000-$74,999 5.741 23 3% $75,000-699.999 1,254 5.1% $100.000•5149.999 892 3 6% 9150.000-$199 999 235 1.0% $200,000• 140 0.6% Mettan Disposable Income $37673 Average D.scosah'e Income $45,455 2007 Consumer Expenditures Average Housencv3 E.pencdure 155 321 r era9e HOJSerOid E'pencituie on Reim Goc0S $21,261 Census 2000 Popuation 16.by Employment Slakrs Total 46.050 103% in L390r Force 31,946 68.4% Cvv1Ean Errocyec 30.768 66 8% Cmkan ImerrPlo/ed 1.111 2 4% M Armed Forces 67 0.1% no:41 Lobo'Force 14.114 33 6% Census 2000 Population 25•by Educational Attainment Total 38,904 100% Less scan 9th.Grade 1.707 4 4% 96*-12th Grade.ho Crplvma 3,366 6 7% -Ii°School Graduate 13,580 34.9% Some College,No Cri9ree 10,206 23.2% Associate Deg ree 2.281 5 9% Bache'o'6 Decree 5.152 14 0% Mast es/PrOtIDo:lorate Degree 2.296 5 9% Data Pew:owe:.ar not turn la trial Cu.in re.rat-S 'rtrre•lNeenit no,.,+a'«1:0.4 b.Me r+evedie yn•.MCO...1e.23)77 and:0:'1.0.13.21-e:r.r!1>ion,np+1 ne Sr a!;.rmenr I- 1,!1150, Saw*:V.1.IN-43u A Pt Cerxs 2:X 6essn Y PoNG:+,3rd.o.u-a ESaI:r.^u' .l + .Co^us CM NO 2X0 94001440y.ESP,1:•et,ssr 4.2C:7 re:12 E.2.^0m.ntc a iaor.p rim t+e:c::. 2:)0.14 280.1 Co't.n,e•E.oera•..•Sw■eys.1,..a,.al weer 5•.»01.. • SHANER APPRAISALS, INC. Demographic Reports • 136 Downtown Salina H.D. Lee Complex iini:D=mI•- Housing Profile • Prepared by Shaver Appraisals CBSAS:Sauna,KS Mlcropolitan Statistical Area 2000 Total Population 59,760 2000 Median HH income $37,443 2007 Total Population 61,339 2007 Median HH Income $47,093 2012 Total Population 62,465 2012 Median HH Income $54,606 2007-2012 Annual Rale 0.36% 2007-2012 Annual Rate 3% Housing Units by Occupancy Status and Tenure Census 2000 2007 2012 Number Percent Number Percent Number Percent Total Housing Units 25,450 100.0% 26,541 100.0% 27,222 100.0% Occupied 23,866 93.8% 24,623 92.8% 25,111 92.2% Owner 16,793 66.0% 17,692 66.7% 17,997 66.1% Renter 7,073 • 27.8% 6,931 26.1% 7,114 26.1% Vacant 1,584 6.2% 1,918 7.2% 2,111 7.8% Owner Occupied Housing Units by Value Census 2000 2007 2012 Number Percent Number Percent Number Percent Total 16,796 100.0% 17,692 100.0% 17,997 100.0% <510,000 333 2.0% 269 1.5% 238 1.3% 510,000-514,999 213 1.3% 157 0.9% 118 0.7% 515,000-519,999 174 1.0% 171 1.0% 128 0.7% 520,000-524,999 209 1.2% 139 0.8% 123 0.7% 525,000-529,999 400 2.4% 151 0.9% 125 0.7% 530,000-534,999 416 2.5% 187 1.1% 115 0.6% III 535,000-539,999 575 3.4% 234 1.3% 211 1.2% $40,000-549,999 1,239 7.4% 628 3.5% 476 2.6% 550,000-559,999 1,441 8.6% 861 4.9% 707 3.9% 560.000-569,999 1,654 9.8% 1,115 6.3% 769 4 3% 570,000-579,999 1,549 9.2% 960 5.4% 942 5.2% 580,000-589,999 1,523 9.1% 1,181 6.7% 1,046 5.8% $90.000-$99,999 1,292 7.7% 1,110 6.3% 890 4.9% $100,000-5124,999 1,884 11.2% 3,091 17.5% 2,701 15.0% $125,000-$149,999 1,502 8.9% 2,220 12.5% 2,521 14.0% $150.000-5174,999 876 5.2% 1,475 8.3% 1,465 8.1% 5175.000-5199,999 514 3.1% 1,014 5.7% 1,363 7.6% 5200,000-$249,999 508 3.0% 1,277 7.2% 1,638 9.1% 5250,000-5299,999 227 1.4% 626 3.5% 1,127 6.3% $300.000-5399,999 169 1.0% 514 2.9% 687 3.8% $400.000-5499,999 64 0.4% 152 0.9% 346 1.9% $500,000-5749,999 13 0.1% 132 0.7% 206 1.1% 5750,000-$999,999 0 0.0% 8 0.0% 21 0.1% 51,000,000+ 21 0.1% 20 0.1% 34 0.2% Median Value $81,280 $113,612 $129,061 Average Value $96,767 $133,362 5154,778 Data Note:Detail may net.um to totals tine to rcuntfin0. Sour.:U.S.Bureau of the Census,2000 Censu•el Population and Housin0.E101 forecast.for 200?and 2012. • SHANER APPRAISALS, INC. Demographic Reports • 137 Downtown Salina H.D. Lee Complex • SapPPr,'•a;a1a_ Housing Profile Prepared by Shaner Appraisals CBSAS:Salina.KS Micropolnan Statistical Area Census 2000 Vacant Housing Units by Status Number Percent Total 1,584 100.0% For Rent 591 37 3% For Sale Only 293 18.5% Rented'Sok!,Unoccupied 89 5.69 Seasonal;Recreational/Occasional Use 96 6.1% For Migrant Workers 1 0 1% Other Vacant 514 32 4% Census 2000 Occupied Housing Units by Age of Householder and Home Ownership Occupied Units Owner Occupied Units Number of Occupied Total 23 866 16,793 70.4% 15.24 1.529 308 20.1% 25.34 3,855 2,063 53.5% 3 •44 5.208 3,696 71.0% 45.54 4.616 3,636 788% 55•64 3.131 2,647 84.5% 65•74 2.748 2,336 85.0% 75.$4 2,106 1,673 79.4% 854 673 434 64 5% • Census 2000 Occupied Housing Units by Race/Ethnicity of Householder and Home Ownership Occupied Units Owner Occupied Units Number %of Occupied Total 23,866 16.793 70 4% White Alone 22.134 15,819 71.5% Black Alone 630 303 48,1% American Indian Alone 109 49 45.0% Asian Alone 236 172 72.9% Pacific Islander Alone 9 6 66 7;; Some Other Race Alone 463 288 62.2% Two or More Races 285 156 54 7% Hispanic Ongln 858 515 60 0% Census 2000 Housing Units by Units In Structure and Occupancy Housing Units Occupied Units Number Percent Number Percent Total 25.450 100 0'0 23.866 100 0% 1,Detached 18.940 74.4% 17,958 75 2% 1,Attached 1.157 4.5% 1,125 4.7% 2 1.158 46% 1.051 44% 3104 832 3.3% 680 2 8% 5 to 9 743 2.9% 598 2 9% 10 to 19 464 118% 426 1 8% 20 to 49 500 2.0% 434 18% SO or More 172 0.7% 162 0 7% Mobile Home 1.471 5.8% 1,332 5 6% Other 13 0.1% 0 00% Data Note Person,of Hiapnle Oripm may be 01 any txt. Setae*:U I eurea0 Of the. ,20x0 Cenlus of Population erne Nevem,. • SHANER APPRAISALS, INC. Demographic Reports • 138 Downtown Salina H.D. Lee Complex SA agpraleela_ • Housing Profile Prepared by Shaner Appraisals CBSA5:Salina,KS Micropolitan Statistical Area Census 2000 Specified Owner Occupied Housing Units by Selected Monthly Owner Cost Number Percent Total 13.855 100 0% With Mortgage 9.047 65.3% <$200 9 0.1% $200-5299 49 0.4% $300-5399 318 2.3% $400-5499 899 6.5% $500-5599 1,018 7.3% 5600-$699 1,267 9.1% 5700-5799 1,184 8.5% WO-$899 889 6.4% $900-$999 860 6.2% 51000-51249 1.278 9.2% $1250-51499 657 4.7% 51500-51999 419 3.0% 52000-52499 126 0.9% $2500-52999 52 0 4% 53000+ 22 0 2% With No Mortgage 4.808 34 7% Median Monthly Owner Costs for Units with Mortgage $781 Average Monthly Owner Costs for Units with Mortgage $874 Census 2000 Specified Renter Occupied Housing Units by Contract Rent Number Percent Total 6.949 100.0% • Paying Cash Rent 6,681 96.1% <$100 195 2.8% $100-5149 143 2.1% 5150-5199 277 4.0% $200-5249 468 6.7% 5250-5299 810 11.7% 5300-5349 1.250 18.0% 5350-5399 1,188 17.1% 5400-5449 905 13.0% 5450-$499 502 7.2% 5500-5549 318 4.6% 5550-5599 175 2.5% 5600-5649 119 1.7% 5650-5699 92 1.3% $700-$749 29 0.4% 5750-5799 15 02% 5800-5899 9 0.1% 5900-5999 29 0.4% 51000-51249 131 1.9% 51250-51499 0 0.0% $1500-$1999 26 0.4% 52000+ 0 0.0% No Cash Rent 268 3.9% Median Rent $358 Average Rent $374 Average Gross Rent(with Utilities) $481 Data Note Specified Ovine,Occupied Housing Units exclude houses on t0•acres,mobile homes units in multiunit bu,tdmgs,and houses with a business or medical office.Specified Renter Occupied Housing Units..chide houses on 10+acres.Average Contract Rent and Average Gross Rent..clode units paying no cash rent Source:U.S.Bureau of the Census.200D Census of Population and Housing. • SHANER APPRAISALS, INC. Demographic Reports • 139 Downtown Salina H.D. Lee Complex 6fmnor apprelsele.. Household Growth Chart Prepared by Shaner Appraisals Area 1 CBSAs:Salina.KS Mlcropotrtan statistical Area 2000-2007 Households Annual Rate 0 5°° 2007-2012 Households Annual Rate 0 31,1"° Total Households Area 1 • 30000- 5000— 23866 24623 25111 22092 0000— 7000— • 10000— 5000— 0 1990 ..._..-- ---�_. 2.......--_..... _._.. __ 2G07_ _. _............... ..... _12..._.__ Source: U.S.Bureau of the Census.2000 Census of Population and Houstn0.ESRI converted 1990 Census data into 2000 0eodiaphy.ESRI forecasts for 2007 and 2012. S • SHANER APPRAISALS, INC. Demographic Reports • 140 Downtown Salina H.D. Lee Complex '' 2007 Household Prepared by Inco5haner me Appraisals Chart • Area 1 2007 Household Income CBSAS:Salina,KS Micropolitan Statistical Area ME Areal Percent 00 10 20 3G 40 50 fi0 70 80 00 100 110 12.0 1 .0 1 I 1 I I 1 I I I I I I 415,000 11.1 $75,000.$19,999 5.4 1 { 120,000.524,099 5.3 625.000-529,599 5.9 iro i 530,000-$34,999 5.9 •1 6 $35.000-339,990 6 $40,000-344,999 7.1 145.000-549.999 12-3 6$40,000$50 000-559,999 10 5 160.000.574.999 175.000-399.999 12. e 5100,000-5124.999 5.0 1125,000-$149•999 2-3 150.000-5199.999 2,D ,•} I '2 F 00,000-$249,999 0.8 :? L50,000-5499,999 0 0 8 � $500.00+ 0 2 w .-` Source: ESRI forecasts for 2007, • 141 SHANERAPPRAISALS, INC. Demographic Reports • Downtown Salina H.D. Lee Complex IIICBSAS:Salina.KS Mlcropoldan Statistical Area 2000 Housing Units 25,450 Owner Occupied Housing Units 66.0% Renter Occupied Housing Units 27.8% Vacant Housing Units 6.2% 2007 Housing Units 26,541 Owner Occupied Housing Units 66.7% Renter Occupied Housing Units 26 1% Vacant Housing Units 7.2% 2012 Housing Units 27,222 Owner Occupied Housing Units 66.1% Renter Occupied Housing Units 26.1% Vacant Housing Units 7.8% 2007 Housing Units Area I 70.0— 66.7 65.0 60.0 55.0 50.0 • 45.0 400 0 l 35.0 a 30.0 26.1 • • 250 20.0 15.D 10.0 f 50 0.0 Owner Occupied Renter Occupied `.scant Median Home Value 2000 $81,280 2007 5113,612 2012 S120,061 Data Note: Detail may not stmt to totals due in rounding. Source: U.S.Bureau of Ins Census,2000 Census of Population and Housing.ESRI forecasts for 2007 and 2012. • SHANER APPRAISALS, INC. Demographic Reports • 142 Downtown Salina H.D. Lee Complex sa 33x:14.- • Retail Marketplace Profile Prepared by Shaver Appraisals CBSAs:Salina.KS Micropohtan Statistical Area Summary Demographics 2007 Popu ation 61,339 2007 Households 24,623 2007 Median Disposable Income 537,673 2007 Per Capita Income $23,782 Industry Summary Supply Demand Leakage+Surplus Number of (Retail Sales) (Retail Potential) Retail Gap Factor Businesses Total Retail Trade and Focd 3 Crink(NAICS 44-45,722) 5902.986,757 5582,310.706 6-320.676.051 -21 6 590 Total Retail Trade(NAICS 44-451 5846.833 766 5516.304.768 5-330,528.998 -24 2 463 Total Food 8 Drink NAICS 722i 556.152 991 566,005.938 69,852.947 8 1 127 Supply Demand Leakage/Surplus Number of Industry Group (Retail Sales) (Retall Potential) Retail Gap Factor Businesses Motor Vehicle&Parts Dealer's(NAICS 441i 5214.038,388 5137.029 974 5.77,008.314 -21 9 Automobile Dealers tNAICS 4411i 5138.189,302 5118.385.174 5.19,804.128 -7.7 41 Other MotorVenicle Dealers(NAICS 4412) 545.684,954 58 399.795 5.37.285.159 -63 9 6 Auto Parts,Accessories.and Tire Stores tNAICS:3131 530.164,132 510.245.0D5 5-19.919.127 -49.3 26 Furniture b Home Furnishings Stores tNAICS 4421 516.708.048 514.579.626 5.2,128.422 .6.8 28 Furniture Stores(NAICS 4421j 511.005,531 511.999.828 5994,297 4.3 11 Home Furnishings Stores(NAICS 4422) 55.702.517 52579.798 5-3.122,719 -37.7 17 Electronics S Appliance Stores(NAICS 443iNAICS 4431) 5224 801,050 69.601,281 5-15.299,789 -44.6 36 Bldg Materials,Garden Equip.d Supply Stores tNAICS 444) 528.519.515 513.695,073 5-14.824,442 -35.1 33 • Building Material and Supplies Dealers(NAICS 4441: 526.945.152 512.485,235 5-14.459,917 -36.7 28 Lar.n and Garden Equipment and Supplies Stores(NAICS 4442) St 574,363 51209.838 5.364.526 •13.1 5 Food&Beverage Stores(NAICS 445) 597 892.362 567.809.430 640.082,932 •113 2 47 Grocery Stores tNAICS 4451i 582 210.887 560 497.410 5-21,713.277 -15.2 20 Specialty Food Stores(NAICS 44521 52.957.048 6899.326 6.2,057,722 -53.4 11 Beer.Wine,and Liquor Stores(NAICS 4453) 512 724,627 56412 894 5-6.311.933 43.0 16 Health 3 Personal Care Stores(NAICS 446'NAICS 4461) 570 206,647 $15.637.957 5.54,568,690 .63 6 31 Gasoline Stations(NAICS 447'4471) $192.949.340 584.259.811 5.108.689.529 -39.2 32 Clothing and Clothing Accessories Stores(NAICS 448) 526.220,725 517.507.145 5-8.713.580 -19.9 43 Clothing Stores(NAICS 4481/ 516.847.725 514.045.091 5.2.802.634 -9.1 28 Shoe Stores(NAICS 44821 54 288,710 51.978.245 5.2.310.465 -38 9 B Jewelry.Luggage.and Leather Goods Stores(NAICS 4483) 55.084.290 51.483.809 5-3.600.481 -54.8 7 Sporting Goods.Hobby.Book.and Music Stores(NAICS 451) 519.350,022 58.651.000 5-10,699.022 48.2 35 Sporting Goods,Hobby/Musical Instrument Stores(NAICS 4511) 515.841,344 55.828.374 5.10.012.970 -48.2 26 Book.Periodical.and Music Stores(NAICS 4512i 53 508,678 52.822.626 5.686.052 -10.8 9 • SHANERAPPRAISALS, INC. Demographic Reports • 143 Downtown Salina H.D. Lee Complex IIIIIs,.. Retail MarketPlace Profile Prepared by Shaver Appraisals CBSAS:Salina,KS Mlcropolitan Statistical Area Supply Demand Leakage/Surplus Number of Industry Group (Retail Sales) (Retail Potential) Retail Gap Factor Businesses General Merchandise Stores;NAICS 452) 594.197.855 5124 478.168 530.280.313 13.8 13 Department Stores Excluding Leased Deets.(NAICS 45211 590.145,541 565.131.996 5-25.013.545 -16.1 12 Other General Merchandise Stores(NAICS 4529) 54.052,314 559.346.172 555.293.858 87.2 1 Miscellaneous Store Retailers(NAICS 453) 525.384.718 511,231,512 5-14.153.208 -38.7 81 Florists(NAICS 4531) $1.772.735 5t 079.692 5-693.043 -24.3 9 Office Supplies.Stationery,and Grft Stores(NAICS 4532) 55.337 400 54 446.007 5.891.393 -9.1 27 Used Merchandise Stores(NAICS 4533) 52.045.828 S904.581 5-1.141.247 -38.7 14 Other Miscellaneous Store Retailers(NAICS 4539) 516.228.755 54.801.232 5-11,427,523 -54.3 31 Nonstore Retailers(NAICS 454) 536.565.095 511.923.811 5-24.641.285 -50.8 9 Electronic Shopping and Marl-Order Houses(NAICS 4541) 510.772.744 SO 5-10.772.744 .100.0 1 Vending Machine Operators(NAICS 4542) 516.981,119 54.996.802 5.11,984.317 -54.5 7 Direct Selling Establishments(NAICS 4543) 58.811.233 56.927.009 5-1.884.224 -12.0 1 Food Services&Drinking Places(NAICS 722) 556.152.991 586.005.938 59.852.947 8.1 127 Full-Service Restaurants(NAICS 7221) 513,834.289 511.393.444 5.2.440.845 -9.7 3 Lime ed-Service Eating Places(NAICS 72221 $37,070.156 548,800.891 511.730.735 13.7 104 Special Food Services(NAICS 7223) $1704.422 52 487,429 5783.007 18 7 5 Drinking Places-Alcoholic Beverages(NAICS 7224) 53.544,124 53.324.174 5-219.950 -3.2 15 • Leakage/Surplus Factor by Industry Subsector .500 . o .410 . so . r0 .u0 00 100 200 -;4n; Motor Vetudo 6 Parts Dealers Furniture it HoirM Fvnrshrngs Sores .11111111111171 Evrclrurucs d Appliance Stoles I Bldg Moue ml._Garden Equip S Supply Stores O 4? rood d F3everage Stores M c j Heath a Persona are stores a yr Gasoline Station& 1 ' Clothing and Clothing Accessories Stores t U Z (S Spoiling ods.Hobby.Book and Music Stores MI General Menruuidrse Stores ill11.111"ellIllIll Miscellaneous Store Retailers I Nonstore Retailers I li,Food Servn.es 6[milking PLKes- 4—Surplus—Leakage—s , So ic.:ESRI and rnro(1).0 SHANER APPRAISALS, INC. Demographic Reports • 144 Downtown Salina H.D. Lee Complex Ili) ,.pPr'et.rsls- • Retail MarketPlace Profile Preparad by Shaner Appraisals CBSAs;Salina,KS M cropoiltan Statistical Area v_ Leakage/Surplus Factor by Industry Group .800 -000 -400 -200 00 210 400 000 coo 1000 Autmmobria Dealers — Mr ' Other!Astor Vehicle Dealers i€ sq, ;r ; Auto Parts Accesscures.and lee Stores ° _ Furniture Stores Home FurmsnuKp Stores t,.• Electron cs S Apptwnte Stores t heeding Material and Supplies Dealers 11•11111 y` l Lawn and Garden Equgxtent and Supplies Stores erreeer 3 04' f, Grocery Stores �� _ �i Specolty Food Stores •s ' Beer.Wine and Llgtror Stores Ott ', ` Heaoh&Personal Care Shores " i a a, n' (Orrsohne Stations- rrrrr�rr. 0 Clothing Stouts- r � 3 r^ Some Stores yes w Jewelry L ipage.and Leather et fduds Stores .. y Sporting GOodyHpblyytMusical Instiunrent Stores IOW U ID Book.Perrodicat.and Music Sores r� 4-4: Z 4 Department Stiles tExcltMkp Leased D4pls) k Omer General Mercnandrse Stores Fiorrds Office Supplies,Swannery and G re Cart Slows j;e <J Used Merchandise Stores �� Other Mrsueaneous Store Retailers rl h I Electon,c Stropping and Mai hide.Houses Vending Machine Operntors § Di ect Selling Esranbsrnrents J e• l 1 Fce-Service Restaurants ® 341114'"'- I Limited Stance Eater*Places i ? Special Food Services +r• a Drrnkerg Places(Akohobc Beverages) • c--Surpkn—Leakage—> Source:ESRI and et olJSAS • SHANER APPRAISALS, INC. Demographic Reports • 145 Downtown Salina H.D. Lee Complex IIII . 0 z egg '-` tc geccgg '-` ct grAgg gg '` eA4AAgt S d - .11 n r7 O O tl N ^ O f1 O - tl Y/ n N O O - R - N - a - tl ' 0 0 8 N ✓ n p f xg1iir 3R 3i 7$ ro � o = fit A � C. *3 IRS, g $ b � r. ° O R U Q ry tl A . ff ry P - - C1 r . - N . N - tlQ O� 4 V/ C Xi V R 6 z >' . YY N - O O f f � v P 1 w D 4 N N - ° ° t 5,N f N m i I O r Y O S' h P. 4 rT 0 Q Q O .-, N P iJ .N N O 7 r • A df�l lA' N♦ O O tl 0 a m 4 - ry c 4. x O fss E I O c N N 0 c N m • F P •Q 1 qq 'n i e 11 V ri F ? i I 2 0 n .R - A A I I h o r Y � Y o F N t u. .. 8 3 tl E. • e rt ; . 14 lit ' 11I ' ' ;/ ' ! i ' ' " I k 4 . 2 I l4 5 pc Y 1 � gAlw 15 ; 2 • a € -- " I ii ti � � 15411 ° $ li / / $ / ii hill; is3 Ax ; • SHANER APPRAISALS, INC. Demographic Reports • 146 Downtown Salina H.D. Lee Complex 0 0 | < d44e ( ■ r4 ■ rrie € tz ■ r ■ ■ ■ t ■ azKZ ■ e444114 ■ , ■ ! ! . ; loo „ . top , • • • „ c • . o . , . , .ao • et • „ . p . • • • . - oo , o § U ± / I $ 4 ° ` ■ 2t9 r • • ■ n = fil2i8174Yi> ¥ w ■ Ft ' § ■ ir. mi ■ f - il m < ! . , .. - „ .: . . . 4SI § k ,! \ ' k 0 ; ttg ■ 4 ! 41 # , i44f4d ( A < tt ■ ■ e ■ , rz ■ , ! K ■ ■ , ■ ilia \ | | . . . . , . . � uu . , uu , . . I . � . , . . . fl , , * , , , e . . . , . • ©, /\ | ` ' ' , l : ; , aF, , z, - , F, , - ; - , % 7 , 4 , ■ R4 - & , « - , 41 4 ! 4 - - v= 74 a e u CI- re / \ 0 @ U, CI 7 _ CO • / I 1 ii If JI } | | & | { i | | | | ( ' 1 } ! ! | ii | 1 i • i i ii ; ■ ! t | ! , it | � + � l � ` hi � | ! � | ; � ' ; | ` �� ! £ X , � | ~ ■ ` I - is ! ' . ! i I Li B i ! ” " / "J 1 . 0 ?-0 0 !Ii / f . liAl i !. . , ! � � � f , ! ' | 2E | ! tf f , !� � ; ! } ` | i | ! | l � , ` l ; . | | | | $ i ; | ! | 2 \ \ / { .. ! ∎A ; t ; i • - t} f . c -- * fi - - - 1 . - tkl1i14 ' .1 ; ! \ • SHANER APPRAISALS, INC. Demographic Reports • 147 Downtown Salina H.D. Lee Complex • saoPP4, ln. Market Profile - Appraisal Version Prepared by Shaner Appraisals CBSAS:Salina,KS MucrOpolitan Statistical Area tilt) 1990 Total Population 54.935 2000 Total Population 59,760 2000 Group quarters 1,634 2000 Population Density 41 5 2007 Total Population 61,339 2007 Population Density 42 6 2012 Taal Population 62.465 2007-2012 Annual Rate 0 36% 1 1990 Households 22,092 2000 Households 23,866 it I An 2000 Average.Household Size 2 44 2007 Households 24 623 2007 Average Household Size 2 42 2012 Households 25.111 2012 Average Household Size 2 42 2007-2012 Annual Rate 0 39% 2000 Families 15928 2000 Average Family Size 2 98 2007 Families 16.209 2007 Average Family Size 2.96 2012 Families 16 313 2012 Average Family Size 2 96 2007-2012 Annual Rate 0 13% Aim 2000 Housing Units 25 450 Sri t.s Owner Occupied Housing Units 66 0% "1"4 Renter Occupied Housing Units 27 8% III Vacant Housing Units 6 2% 2007 Housing Units 26,541 Owner Occupied Housing Units 66.7% Renter Occupied Housing Units 26.1% Vacant Housing Units 7.2% 2012 Housing Units 27,222 Owner Occupied Housing Units 66 1% Renter Occupied Housing Units 26 1% Vacant Housing Units 7.8% Median Household Income 1990 $25,281 2000 $37.443 2007 $47:093 2012 $54,606 Median Home Value 1990 $43.822 2000 x81.280 2007 S113.612 2012 5129.061 Per Capita Income 1990 $12,866 2000 $18,928 2007 $23.782 2012 $28.116 Median g 34 0 2000 36 5 2007 37 9 2012 3813 Data Note; Household population includes persons nor residing in group quarters.Average Household Size is the household population divided by total households. Persons in famines include the householder and persons reiaied to the householder by birth.'manage,or adoption.Per Capita Income represents the Income received by ail persons aged 15 years and over divided by total population.Detail may not stun to totals clue to rounding. Source:U.S.Bureau of the Census.2000 Census of Population and Housing.ESRI forecasts for 2007 and 2012.ESRI converted 1990 Census data into 2000 geography. • SHANER APPRAISALS, INC. Demographic Reports • 148 Downtown Salina H.D. Lee Complex '5801..- Market Profile - Appraisal Version • Prepared by Shaner Appraisals CBSAs:Salina,KS Micropohtan Statistical Area 2000 Households by Income i iousehold Income Base 23,931 <.S15000 15.0% S15,000-S24,999 14.8% $25,000-S34.999 16.2% $35,000.549.999 20.2% S50.000-S74.999 20.9% S75,000-S90,999 7.1% S100,000-5149,999 3.8% 5150.000-$199,999 0.9% S200,000« 1.1% Average Household Income $46,508 2007 Households by Income Household Income Base 24.623 <515.000 11.2% S15,000-S24,999 10.7% S25,000-534.999 11.8% 535.000-S49.999 19 7% $50,000-574,999 22.8% $75,000-599.999 129% S100,000-$149,999 7.3% 5150,000-5199,999 2.0% 5200,000• 1.7% Average Household Income $58.263 2012 Households by Income Household Income Base 25,111 5:5000 9.2% • 515.0.000-$24,999 8.7% 525,000-S34,999 10 1% $35,000-S49,999 16 5% 550,000-$74,999 23.8% 575.000-599.999 14.3% $100,000-$149,999 120% S 150,000-5199,999 2.9% $200:000+ 2.7% Average Household Income $68,852 2000 Owner Occupied HUs by Value Total 16.796 c$50,000 212% $50,000.99,999 44.4% S100.000-140,000 20.2% S150.000-199.999 8.3% 5200.000-$299,999 4 4% S300.000-499,999 1.4% S500.000-999.999 0 1% 51,000 000- 0.1% Average Home Value $96,767 2000 Specified Renter Occupied HUs by Contract Rent Total 6.949 With Cash Rent 96 1% No Cash Rent 3.9% Median Rent $358 Average Rent $374 Data Note. Income represents the preceding year,expressed in current dollars.Household income includes wage and salary earnings,interest.dividends.net rents, pensions.SSI and welfare payments,child support and alimony.Specified Renter Occupied HUs exclude houses on 10.acres.Average Rent excludes units paying no cash rent Source: U.S.Bureau of the Census,2000 Census of Population and Housing.ESRI forecasts for 2007 and 2012. • SHANER APPRAISALS, INC. Demographic Reports • 149 Downtown Salina H.D. Lee Complex III Sa rp'f raieai.-- Graphic Profile - Appraisal Version Prepared by Shaner Appraisals CBSAs:Salina,KS MicropoMlan Statistical Area Households 2007 Households by Income 675K-100 02 9%) 6100(-5150K(7.3%) _� St5U1(+(37%) f 650(•75+((22 s%)` IF 25111 I .$15/(425K 110 7%Y 5 S5K-550K 119 leo --5K(11 8%! 5000 i t.__e._._._Z00o _ _2007 eau I 2007 Population by Ape 2007 Employed 16+by Occupation 55.64(107%) 65+(14.1%1 Produceon 199%) III 1 4S-54 115 d%), ten ancetRe ar 4 5%;, c«t:waan(77%S FannIFish(0.7%), TrantrrO)tatgr 181%) 4(09%) +i' AorIwi Sttppart(136%)—. 3i -MgmVBusiness)102%i i E 5.44(13.4%) Saks(12.5%) Fratesvma)115 7%) 5.19{200%i j i1 S•nttef(t6 OK) 25-3401 4%) 20.24 l7 0%) € 2007 Owner Occupied HUS by vow I 3200.299((10 8%) /5540} 2O9% ,5500K•10 9%) 1 5160.199K(44.1%)- 4100K(40 5%) ( S Source:U S Bureau pith!)Census.2000 Census of Pupuat)cn and Nous n9 ESRI tore[asts for 2007 and 2012 • SHANER APPRAISALS, INC. Demographic Reports • 150 Downtown Salina H.D. Lee Complex sa Comprehensive Trend Report Prepared by Shiner Appraisals CBSAS:Salina.KS Micropotitan Statistical Area Demographic 2007 Estimate 2012 Estimate Populatlon: Popuu ion 61.339 62,465 Persons in Group 1,634 1,634 Jiouseholdst Househo'ds 24,623 25,111 Fanlly Housenolas 16,209 16,313 Average Hcusehod 547.e 242 2.42 Population by Race and Ethnicity; Total 61.339 62.465 White 53,979 53 939 Black 1,834 1,930 Amercan InclialVAlaska Nave 319 329 Asian 1.29„6 1,607 Pacific islander 31 33 Other Race 2,480 3.060 • Pao or More Races 1,410 1.562 Hsspanic Population 4.549 5.6113 Population by Sex; (!tale 30.477 31.080 Femme 30.862 3138,5 Income= kte0 an Houseno 0 income 47.093 54.606 Average Houserwa Income 56-263 68.852 Median Fanaly Income 57,945 67,793 Average Fanl:ry Income 69.895 84.160 Per Capta Income 23,782 28,116 Medan Disposable Income 37,673 • Average Disposable Income 45,455 • CILtV xth. t/ed-.an Net:1'orh 89.331 Housing t1ults: Om;er-Occc2 no 17,692 71<'7 Renter-C'ccup ed 6.931 ?''4 Source ESRI forecasts for 2047 and 2012 • SHANER APPRAISALS, INC. Demographic Reports • 151 Downtown Salina H.D. Lee Complex • .4" e Comprehensive Trend Report Prepared by Shane! Appraisals CBSAs:Salina.KS Micropolilan Statrsticel Area 2007 2012 Population by Age (lumber Percent Number Percent Toa 61.335 1000% 62,46. 100.0% 0.4 4211 6 9% 4,252 6 8% 5.9 3,845 6.3% 3.882 6.2% 10.14 4.077 6.6% 3,984 6.4% 15-19 4,375 7,1% 4.265 6.8% 20.24 4.639 7,6% 4,206 6.7% 25.29 3.915 64% 4,506 72% 30-34 3.401 5.5% 3,681 5.9% 35.39 3.789 6.2% 3,394 5.4% 40-44 4,406 7 2% 3,925 6.3% 45-49 4,845 7.9% 4,571 7.3% 50.54 4,596 7 5% 4,754 7.6% 55.59 3,694 60% 4,658 7.5% 60-64 2,871 4.7% 3,428 5.5% 65.69 2.260 3.7% 2,497 4.0% 70-74 1.828 3.0% 1,880 3.0% 75-79 1,771 2.9% 1,549 2.5% 80-84 1,390 2.3% 1,464 2.3% • 85. Median Aye t 426 2.3% 1,569 2 5% 37.9 38.6 POpulatson by Age-Males Toter 30,477 1000% 31,080 100.0% 0.4 2,138 70% 2,164 7.0% 5.9 1,949 6 4% 1,989 6.4% 10.14 2,222 7.3% 2,080 6.7% 15-19 2.255 7.4% 2,343 7.5% 20-24 2,397 7.9% 2.111 6.8% 25-29 2,114 6.9% 2,318 7.5% 30.34 1,704 5.6% 1,958 6.3% 35.39 1,964 6.4% 1,703 5,5% 40-44 2.251 7.4% 2,038 6.6% 45.49 2,375 7.8% 2,303 7.4% 50.54 2,330 7.6% 2,330 7.5% 55-59 1.787 5.9% 2,317 7.5% 60.64 1.416 4 6% 1,847 5.3% 65-69 1,042 3.4% 1,206 3.9% 70-74 855 2 8% 846 2.7% 75.79 702 2 3% 682 2 2% 80.84 522 1.7% 549 1.8% 85. 454 1.5% 496 1.6% Median Aye 36.2 - 36.7 sourer.ESRI forecasts for 2007,ed 2012 SHANER APPRAISALS, INC. Demographic Reports • 152 Downtown Salina H.D. Lee Complex Eta Comprehensive Trend Report • Pteitnred by Shiner Appraisals CBSAs:Saluna.KS Mlcropolitan Statistical Area 2007 2012 Population by Age Females Number Percent Number Percent 7ota 30,662 100.0% 31.385 100.0% 0-4 2,073 6.7% 2,088 6.7% 5.9 1,896 6 1% 1,893 6.0% 10-14 1,855 6 0% 1,904 6.1% 15-19 2,120 6.9% 1,922 6.1% 20-24 2,242 7.3% 2,095 6.7% 25.29 1,801 5 8% 2,188 7.0% 30-34 1,697 5.5% 1,723 5.5% 35-39 1.825 5 9% 1,691 5.4% 40-44 2,155 7 0% 1,887 6.0% 45.49 2,470 6.0% 2,268 7.2% 50-54 2,266 7 3% 2,424 7.7% 55.59 • 1,907 6 2% 2.341 7.5% 60.64 1,455 4.7% 1,781 5.7% 65-69 1,218 39% 1,291 4.1% 70-74 973 3 2% 1,034 3.3% 7S-79 1,069 3.5% 867 2.8% 80-84 868 2 8% 915 2.9% 85. 972 31% 1,073 3.4% Medan Age 39.8 40 5 • n -- n 1 , •• 1 , .•11:' Total 24,623 100.0% 25.111 100.0% <510.000 1,708 6.9% 1,437 5.7% 510,000-514.999 1.043 42% 880 3.5% 515,000.519,999 1,332 5.4% 1,031 4.1% 520.000.524.999 1,294 5.3% 1.150 4.6% 525.000-529.999 1,445 5.9% 1,152 4.6% 530.000.534,999 1,483 59% 1,378 5,5% 535.000 539.999 1.620 6.6% 1)79 5.1% $40.000.544.999 1,749 7.1% 1,388 5.5% 545.000.549.999 1,473 60% 1.464 5,8% 550 000-559,999 2.590 10.5% 2.735 10.9% 560,000.574,999 3,030 12.3% 3,234 129% 575,000-599,999 3.177 12.9% 3,590 14.3% 5100,003-5124,999 1224 5 0% 1.981 7.9% 5125,003.5149.999 567 2 3% 1,028 4.1% 5150.003-5199.999 483 2 0% 717 2.9% 5200.000-5249.999 193 0 8% 295 12% 5250,000-5499.999 197 0.8% 276 1 1% 5500,000. 38 0.2% 96 0.4% source. forecasts for 2007 and 2012. SHANER APPRAISALS, INC. Demographic Reports • 153 Downtown Salina H.D. Lee Complex • sa Comprehensive Trend Report Prepared by Sharer Appraisals CDSAs:Salina.KS Micropolitan Statistical Area 2007 2012 Luilibst2.123clAublY111COn= (lumber Percent Number Percent Total 16,209 100 0% 16,313 100.0% <S10.000 510 31% 482 30% 510.000.514.999 316 1.9% 241 1.5% 515,000.519.999 430 2 7% 293 1.8% 520.000.524.999 707 4.4% 499 3 1% 525.000 529.999 739 4 6% 543 3.3% 530.000•S34.999 752 4 6% 684 4.2% 535 000.539.999 910 56% 598 3 7% $40.000-$44.999 1.020 6.3% 830 5.1% 545.000-549.999 1,043 6.4% 839 5.1% 550.000-S59.999 2,030 12.5% 1.841 11.3% $60.000.574.999 2.378 14 7% 2250 138% $75.000.599.999 2,647 17.6% 2.980 16 3% S100,003-5124.999 1,124 6.9% 2,074 12 7% S125.000-5149,999 595 3 7% 845 5 2% $150.000.5199,999 428 2.6% 695 4.3% 5200.000 5249.999 174 1.1% 301 1.8% 5250.000 $499.999 177 1.1% 241 1.5% 5500.000. 29 0 2% 77 0 5% • Houc hol 1! y Disposable rltt ni Tote 24.623 100 0% 415.000 3.293 134% $15.000.524.999 3,412 13.9% 525.000-534.999 4.261 17.3% 535.000-549.999 5.395 219% 550.000-S74.999 5,741 23.3% 575.000-599.999 1.254 5.1% $100.000.5149.999 1192 3.6% 5150.000.5199.999 235 1,0% $200.000• 140 06% Hnaeeholde by Net Wbo h: Tote' 24.623 100.0% .515,000 6,495 26.4% 515,000.534,999 2.114 8.6% 535.000-549.999 1,164 4 7% 550.000-574.999 1,693 6 9% 575.000-599.999 1.362 5.5% 5100.000-5149.999 1.975 8 0% S150.000-5249,999 2,921 119% 5250.000-5499.999 3.641 146% 5500.000- 3.258 13 2% Source ESRI forecasts for 2007 and 2012. • SHANER APPRAISALS, INC. Demographic Reports • 154 Downtown Salina H.D. Lee Complex i41P22reals.. • Comprehensive Trend Report Prepared by Shaper Appraisals CBSAS:Salina,KS Micropolitan Statistical Area Consumer Expenditures(2007) Total($000) Retail Summary: Retail Expenditures:Total 523,519,093 ARRaral: Apparel and Services:Total $48,507,002 Men's Apparel:Total $9,042,788 Women's Apparel:Total $16,499,504 Children's Apparel:Total 58,269,723 Infant Apparel(Under 2 Years):Total $2,192,262 Footwear $7,866,454 Watches&Jewery 53,769,273 Other Apparel and Services 53,059,260 Frtts:ation; Education:Total 525,936,322 School Books&Supplies:Total $4,460,409 Transnortaion ILocall• Gasoline and Motor Oil:Total $40,808,742 Vehicle Maintenance&Repairs:Total 520,951,324 Vehicle Insurance:Total $29.134,662 F nrert ai nmentlRecreation: Entertainment 8,Recreation:Total $67,688,875 Fees and Admissions:Total 511,705,279 • Membership Fees for Sooal1RecreatiorVCivic Clubs-Total 53.091,872 Fees for Participant Sports,excl.Trips.Total $2,208,333 Admission to MovielTheatre/Operai allet:Total 52,835,675 Admission to Sporting Events,excl.Trips:Total $1,137,740 Fees for Recreational Lessons:Total 52,431,659 TvNIdeo/Sound Equipment:Total $23,487,779 Community Antenna or Cable Television $13,646,790 Color TVs.Total $2,677,244 VCRs,Video Cameras,and DVD Players:Total $789,461 Video Cassettes and D'v'Ds:Total 51,236,436 Video Game Hardware and Software:Total $662,947 Satellite Dishes:Total $29,195 Rental of Video Cassettes and DVDs:Total $1,222,391 Sound Equipment:Total 53,107,294 Rental of TVNCR/Sound Equipment.Total $31,684 Repair of TV&Sound Equipment:Total $84,367 Pets:Total $8,806,407 Toys and Games:Total $3,726,221 Recreational Vehicles and Fees:Total $8,831,041 Sports/Recreation/Exercise Equipment:Total 54,039,046 Photo Equipment and Supplies:Total $2,800,917 Film Processing Total $768,847 Reading:Total $4,292,183 Source!Expenditure data are derived from the 2001.2002.and 2003 Consumer Expenditure.Surreys.Bureau or Labor Statistics.ESRI forecasts for 2057 • SHANERAPPRAISALS, INC. Demographic Reports • 155 Downtown Salina H.D. Lee Complex • lZ =-"- Comprehensive Trend Report Prepared by Shaner Appraisals CBSAs:Salina,KS Micropolitan Statistical Area Consumer Expenditures(2007) Total($000) Life Insurance/Pensions: Lite/Other Personal Insurance:Total $12,544,503 Health Care; Health Care Total $81,878,509 Health Insurance:Total $41,251,196 Nonprescnption Drugs $2,536,140 Prescription Drugs 312.564.269 Eyeglasses and Contact Lenses:Tots' $1,716,589 Food Services: Food at Home $99,710,495 Bakery and Cereal Products $14,337,401 Meat,Poultry.Fish,and Eggs $25,976,458 Dairy Products 510,928,152 Fruits and'Vegetab es $16,983,665 Snacks and Other Food at Home $31,484,819 Nonalcoholic Beverages of Home $8,729,235 Food Away from Home-Meals at Restaurants/Other Total $67,151,133 Alcoholic Beverages $12,155,695 Housing: Shelter:Total $283,294,884 Mortgage Payment&Basics:Total $164,915,734 • Owned Dwellings Maintenance&Remodeling Services:Total 537,378,883 Maintenance&Remodeling Materials:Total 37,568,636 Paint/WallpaperlSuppiles:Total $465,726 Rented Dwellings Maintenance&Remodeling Services:Total $541,344 Maintenance&Remodeling Materials:Total $248,332 PaintlWallpaper/Suppiles:Total $27,202 Ulf?ities/FuettPubtic Services:Total $89,422,754 Telephone Services:Total $30,598,759 insurance-Owners&Renters:Total $9,878,199 Household Goods_ Household Textiles:Total $2,691,122 Furniture.Total $12,334,855 Floor Coverings:Total $1,707,166 Major Appliances Total $5,806,716 Housewares:Total $1,933,320 Small Appliances.Total $744,031 Luggage:Total $199,489 Telephones and Accessories.Total $809,315 Housekeeping Supplies:Total $15,744,113 Computer&Hardware for Home Use:Total $4,289,209 Software&Accessories for Home Use:Total $582,944 Source:Expenditure data are derived from the 2001.2002,and 2003 Consumer Expenditure Surveys,Bureau of Labor Statistics.ESRI forecasts for 2007 • SHANER APPRAISALS, INC. Demographic Reports • 156 Downtown Salina H.D. Lee Complex sa�Pretssh-. • Comprehensive Trend Report Prepared by Shaner Appraisals CBSAs:Salina,KS Mrcropohtan Statistical Area Consumer Expenditures(2007) 1'otal($000) Personal Care: Persona Care Products Total $9,407,383 Persona'Cara Services Total $6,774,374 Financial; Investments Total $30,118,020 tbhtcle Loans:Total $125.040,367 Household Services: Computer Information Services 53,657,286 Chid Care 57.999,347 Lavin 8 Garden $9.050,237 M oving StorageIFrei ht Express $997,487 r-ouseleepng Services $2,518,518 Transportation 11°call; ',ehlcle Insurance Tcta'. 529.134,862 Vehicle Purchases(Net Cut ay: Total 5115,565,635 Gasoline:Total 540.483,167 Motor Oil Tote 5325,575 L'etmcle Maintenance and Repays:Total $20.951,324 Tr=1, Travel Tota $36.007,002 /urine Fares Total $7,655,929 Lodging on Taps Total 57,960,912 • Auto eTruckf:an Rental on Trps Total 5815,078 Food and Cnnk on Trips:Tai: $9,277,537 Miscellaneous Expenses: Sniotung Products Tote' 510.491,744 Source:Expenditure data are derived from the 2001,2002,and 2003 Consumer Expenditure Surveys.Bureau of Labor Statistics ESRI forecasts for 7007 • SHANER APPRAISALS, INC. Demographic Reports • 157 Downtown Salina H.D. Lee Complex IP/ sa Comprehensive Trend Report Prepared by Shaner Appraisals C8SAs:Salina,KS Micropoldan Statistical Area 2000 Population 25•by Educational Attainment 'o:a 38,9C8 Less than 91l Grade 4 4% 9th-12th Grade,No Diploma 8 7% Nth School Graduate 34 9% Some College,No Degree 26 2% Associate Degree 5 9% Bache•or's Degree 14 0% Master'srProliDodaate Degree 5 9% 2000 Households by Type Total 23,666 Fanwy Households 66 7% Married-couple Family 53.8% With Related Children 24.2% Other Family INO Spouse) 13 0% ihith Related Chidren 9.4% Nonfam`y Households 33 3% Householder Living Alone 28 1% Householder Not Living Alone 5 2% Households'Nth Related Children 33.6% • Households w,th Persons 65+ 24.3% Source ESRt forecasts for 2007 and 2012 • SHANER APPRAISALS, INC. Demographic Reports • 158 Downtown Salina H.D. Lee Complex • MIXED-USE DEVELOPMENT Overview From Wikipedia, the definition of mixed-use development refers to the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses. Mixed-use is basically a reference to a zoning district that allows for a variety of uses within a specified area. It is considered to be a non-conventional type of development but it does have strong historical roots. It is now being hyped as the greatest idea in commercial real estate since the debut of the enclosed mall. Mixed use projects also go by several other terms, including Traditional Neighborhood Design and New Urbanism. Typically it will include some type of moderate to high-density development project that features a new urbanist-style mix of residential, employment and retail use all accessible via pedestrian traffic. History • Much of our culture developed historically in the United States as mixed-use environments. As walking was the primary mode of transportation for early civilization, mixed-use development has always been a part of the American urban landscape. Most people made or sold goods from their own homes. People tended to live at very high densities as the amount of space required for daily living and movement between different activities was determined by walkability. In most developing cities the ground floor of buildings was utilized for some type of commercial space, with living space upstairs. This type of development declined during the industrial era in favor of large-scale capitalist-style manufacturing in single-function buildings. It further devolved during the time after World War II of urban sprawl and suburban development at the time of the importance in society of the automobile. However, as cyclical development tends to do, mixed-use development has reappeared and gained strong acceptance throughout the country. The trend is geared towards the demand of residents who want to live, work and play all in the same area. According to a study performed by the Kansas City Star for a recent news article there are currently six cities within Johnson County, Kansas that have mixed-use developments underway. When complete the projects will add more than 3,400 residential units and almost 4.5 million square feet of new office and retail space. • SHANER APPRAISALS, INC. Mixed-use Development • 159 Downtown Salina H.D. Lee Complex Benefits If developed properly, mixed-use projects will spread the development risk by allowing developers to shift the mix if one of the components falters. Also, rental rates are typically higher in mixed-use projects because buyers tend to pay a premium to be part of a new trend. Further appeal of mixed-use development is to reduce long car commutes and rising gas prices, improve environmental concerns through lower emissions and to promote a healthier lifestyle through walking. Mixed-use is pedestrian-oriented, maximizes space usage and cuts down on traffic and sprawl. These types of developments tend to attract young professionals and empty nesters to urban areas which boosts density. Drawbacks Typical reluctance for construction of mixed-use projects include high construction costs, financing issues, increased competition and a declining condominium market in some areas. These types of projects are extremely complex. With the multiple types of usage the risks increase because you basically have to make the right decisions for not just • one, but several projects from a practical point of view. Further complicating the process is the interdependence of the property types with one another. City of Salina There are no properties that exist in the City of Salina which are true "mixed-use" projects. Obviously, the downtown area has a mixed-use presence with the many of the retail stores on the lower level having second floor usage consisting of lofts, apartments or offices. Although there are no projects of this type there are a few buildings that incorporate two of the potential uses. There are two known properties in town that maintain a more common basis with the vision conceptualized for the subject property, particularly the part of the project that will entail the renovation of the warehouse space. The first is the property located at 217-219 West Ash Street. This is the Gold Key Apartments, which will be discussed in more detail in the multifamily analysis of this report. It is an old multi-story mid-rise hotel that had all the upper floors converted to apartments but retained the first floor for retail usage. The other property is known as Kraft Manor and is located at 1800 S. 9`h Street. This • development is basically a strip shop center set-up with retail usage on the lower level and apartment units above. SHANER APPRAISALS, INC. Mixed-use Development • 160 Downtown Salina H.D. Lee Complex Conclusion According to a recent survey of developers, investors, building managers and other professionals conducted by the Building Owners and Managers Association international, the International council of Shopping Centers, the National Association of Industrial and Office Properties, and the National Multi Housing Council, 93.3% said that mixed-use will grow as a share of overall development within the next five years. Of primary importance to a successful mixed-use development is putting together the right team of development professionals that have the necessary experience in each of the particular usages. Most experts agree that retail usage is the most difficult to add to the equation and should be the first type of use to be considered when planning a project. While office and residential usages are typically analyzed from a supply and demand standpoint, retail properties require analysis of merchandising, consumer behavior and the blend and type of stores included. Another basis for success of recent projects is cooperation and assistance from the municipality where the project will be developed, whether that is in the form of acceleration of the permit process, aiding in zoning and platting issues, performing soil and water tests, assisting in market analysis, or providing financial assistance through incentives, public subsidies or tax allocation. According to the aforementioned survey, nearly 60% of the developers and other • real estate professionals dealing with mixed-use properties stated that involvement by the public sector is instrumental to the financial success of a project. According to a separate study completed by real estate historian and author, Charles Lockwood, mixed-use developments consistently outperform standard suburban real estate products in many ways, including office and retail lease rates, apartment rents, retail sales and sales tax revenues, occupancy rates and on-site and adjacent property values. A mixed-use project provides an opportunity to bring back an original intended use that existed in the City of Salina, as well as many smaller communities throughout the Midwest, at the turn of the century. It can be a tool for growth and sustenance in the community to reshape the future direction of the town. As opposed to the sprawl that has occurred over recent history, a mixed-use plan provides for an efficient and exciting use when compared to the cookie-cutter strip-shop developments that have inundated our neighborhoods. The live where you work concept is deeply wound into the fabric of the workforce in today's society. Home-based businesses are the fastest growing segment of new business growth. The live/work housing contemplated for this project will support this "incubator" cycle, where small businesses in their early development often progress through different work spaces, from an extra room to a garage or basement to a small space within close proximity. 411 SHANER APPRAISALS, INC. Mixed-use Development • 161 Downtown Salina H.D. Lee Complex • Certainly it is a niche market but this concept is directly in line with the type of market activity that has proven to be successful within the downtown Salina business district. This type of tenant is exactly the type that many owners are currently marketing for. In fact, several local developers have renovated their larger building spaces into small retail locations that appeal to the start-up business tenant. It is very important that the development become a regional attraction. Although it would look to the local residents for the foundation of its success, it also needs to appeal to those outside of the community as a regional "destination". The heart of the project should be the "live, work, shop, play" concept that needs to be ingrained into the core of the development plans. This should be a multi- dimensional environment that provides a wide variety of retail mix. The property will benefit most from utilization as part of an "entertainment" district, which is in line with the City of Salina Master Plan goals as well as the direction initially indicated for this mill district area by the PUMA group in their study. The location just north of downtown will allow the project to draw from two large employers in the Salina Regional Health Center and the City office complex, which put thousands of employees in the general vicinity of the subject property each day. Other than employees, the hospital, library and government offices maintain high levels of daily visits. Further, the downtown area is where many local citizens, shop, eat, and visit service providers. • The subject project will need to be very unique in this marketplace, particularly to draw the retail consumers from the southern part of town to the downtown area. It is certainly possible to expand the market area of the customer base due to the relatively small size of the City of Salina. With the grid street infrastructure and surrounding interstate system most residents can get to any part of town within a 15- 20 minute drive. The fundamental philosophy of the project has to be more than just a mechanism to fill a projected market need. It should contain a very eclectic group of retailers. In a mixed-use project most developers agree that the foremost decisions involved in the initial planning is the establishment of the rental base. Again we consider it paramount that there be not only one or two anchors but that there is a national retail presence. It would be particularly advantageous to have a combination of some national retailers that already have shown to be successful businesses in this marketplace combined with some national retailers that are new to the community. Various market participants have stated that historically the problem downtown has been its inability to attract "national" retailers. It is imperative that this development first attract at least one very strong anchor tenant. Further, many of the retailers should not only represent something new to the market, but they should include some businesses with a national reputation and presence. The property needs to represent a "one-of-a-kind" attraction that will become a regional draw. • SHANERAPPRAISALS, INC. Mixed-use Development • 162 Downtown Salina H.D. Lee Complex The idea of tying the north end of the retail development with that on the south end • through internal pedestrian walkways is appealing from an aesthetic point of view. This would create an open market environment that would allow the old and the new of the project to blend together in a harmonious manner. However, the extent of the walkways should be minimized due to the fact that there is only approximately 130,000 square feet of developable land area outside the footprints of the existing buildings. It is recommended that the site include several free-standing buildings and that they be located towards the southern end of the site. This would provide the best location from a visibility standpoint for the anchor tenant(s) due to its closer proximity to downtown and the fact that Ash Street shows fairly consistent traffic counts. In regards to the additional retail shops we suggest some type of open plan that would incorporate not only store frontage on Santa Fe and 5'h but also contain some properties that front on the interior of the site. This would be conducive to the pedestrian traffic that is desired. Further, in keeping with the tradition of mixed-use properties, some or all of the new store-front retail type properties should contain a mixture of office and residential loft style apartments above. This would complement the adaptation of the Lee warehouse buildings and create additional rental opportunities by building • up due to the somewhat restricted footprint available on the remainder of the subject property site for new construction. Additionally, improvements with a few stories would be more appealing from an overall view amenity then having one story buildings directly next to the five story Lee structure. If the single story free-standing tenants were located at the southern end then the overall project would stair-step down from the north to the south, which would provide the best view of the downtown area for the multi-story buildings. Information provided in this section of the report came from Wikipedia along with several articles written in the National Real Estate Investor. • SHANERAPPRAISALS, INC. Mixed-use Development • 163 Downtown Salina H.D. Lee Complex • MARKET ANALYSIS — RETAIL/OFFICE Overview As the shopping center has evolved, five basic types have emerged, each distinctive in its own function. These five types of centers are the convenience center, the neighborhood center, the community center, the regional center, and the super regional center. The proposed subject, McCune Bird/Lee Buildings, would benefit most from use as a regional center. Most of the retail development just to the south in the downtown area of the central business district would be considered a community or neighborhood center. Neighborhood centers can be a good complement to nearby community and regional centers. The primary market area for a neighborhood retail center is approximately a three to five mile radius, which would basically encompass the City of Salina. The primary market area for a community center is significantly larger. The demographic reports provided in this analysis designate the secondary market as including the Salina, Kansas Micropolitan Statistical Area (CBSA). This area includes all of Saline County, as well as portions of all counties that physically adjoin. This would represent the basic market area for a regional center within this geographic region. 5 Salina Retail Market Overview As noted previously, the subject is in the City of Salina and is impacted by overall market conditions for this area. Supply According to the City of Salina Market-Based Downtown Plan, prepared by the Progressive Urban Management Associates, Inc. in April, 2002 the City of Salina retail market contained approximately 2,641,603 million square feet of retail space. The P.U.M.A group did a field survey which inventoried all of the retail space within the City of Salina. This resource is considered to be the most current available for data of this type in this market area. The figures may have changed over the past five years but any changes are considered to be minimal. According to the City Planning Department there has been little new retail inventory added to the marketplace within the timeframe since the PUMA study was completed. We have researched the most recent construction projects and found that the majority of all the work involved renovation of existing space, as opposed to new entry level space. Further, some of the properties that were included in the PUMA survey are likely to have been removed from the marketplace. For these reasons, we felt that a 10% increase over the past five years was deemed to be reasonable. As such, the current existing supply is estimated to be approximately 3,000,000 square feet of retail commercial space. • SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 164 Downtown Salina H.D. Lee Complex For purposes of the P.U.M.A. analysis the downtown area was part of the primary market area while the secondary market area consisted of all of the City of Salina. Major submarkets designated as nodes include Downtown Salina, the North Broadway Boulevard Corridor, Galaxy Center/Central Mall/Mid-State Plaza Area, I- 70/North Ninth Street Corridor, South Santa Fe/Kraft Manor/Fountain Plaza Area, Crawford Street Corridor, South Ohio Corridor and Wal-Mart. Breakdowns of the amount of square footage and what percent of the market they represent can be found in the following tables. Concentration of Retail Space: Primary Market Area W,.:a wtA.RWI.away 76 of Retail Node Retail Sq.Ft Masicet Downtown Salina 548.600 spit 58.4% North Broadway Boulerarsy Corridor 380.452 sq 1t. 41.8% Total Primary ary Market 938,.052 90.* Concentration of Retail Space: Secondary Market Area, Excluding Primary Market Area sore:Pr!MAiKMI sow Retail Node Retail Sit Ft % of Market Galaxy Canter/Central MalltNlid-State Plaza Area 700.377 sq.ft. 41.1% l-70/North Ninth Street Corridor 451.756 sq.ft. 26.5% South Santa Fe/Kraft ManortFosattaln Plaza Area 19,330 sq.R. 11.3% Crawford Street Corridor 164,666 sq.R. 9.7% South Ohio Corridor 79,775 sq.R. 4.7% • war-mart 114.557 Mt 5.7% Total Secondary Market I 703 551 sq.R Total Primary and Secondary Markets 2,641,603 1 sq.It As a sub-market, the downtown area, which contains approximately 548,600 square feet of retail area, represents a 20.8% market share of the entire concentration of retail space available within the City of Salina. This is the second largest sub-market within the defined area, behind only the major retail presence that is located in the southern part of town around the mall and also containing the galaxy center and mid-state plaza area strip shopping centers. Following is a break-down of the amount of square footage that was utilized in 2002 for each type of retail use within each sub-market of the community as compiled by the PUMA group at the time of their study. It is considered to be relevant today due to the minor changes that have occurred in the retail marketplace during the time that has ensued. However, it should be noted that although the actual amount of square footage of retail space has only undergone minimal change, the type of retail activity that occurs within that space will have showed more significant differences. The Retail Marketplace Profile prepared and provided in the demographics section of this report breaks down retail industry usage but does so based on sales volume, as opposed to square footage of net rentable area. • SHANERAPPRAISALS, INC. Market Analysis—Retail/Office • 165 Downtown Salina H.D. Lee Complex • III • SHANER APPRAISALS, INC. Market Analysis — Retail/Office • 166 Downtown Salina H.D. Lee Complex 2. North Broadway Boulevard TOTAL PRIMARY I • EXISTING RETAIL(eslirnarod square feet) 1.Downtown Salina Corridor MARKET Apparel&Accessories )T 003 37,000 Automotive Dealers 8.700 '.1.-:10 9.700 Automotive Repair&Supply 43.500 26 41,1 69,954 Drug&Proprietary Stores 3000 3.000 Eating&Drinking Places 66500 4R hr? 115.002 Food Stores 27.100 Z:5 C) 53,220 Furniture&Home Furnishings 108,500 7.158 115.658 Home Appliance,Radio d T.V. 8.000 16154 24.954 Gasoline Service Stations 1,500 5,300 6.800 General Merchandise 64.500 31.218 95.718 Department Stores 8.000 84,000 92,000 Hardware,Lumber&Garden Stores 125,820 125.820 • Personal Services 117200 15,428 132,626 "Miscellaneous 54.500 21100 56,600 TOTAL GLA:_ _ 348,600 389452 • 978,052 • 3.Srwth San:a Ir Corndor 6 Gltary C.•ntelC4wai Mai' TO161 SleCOPIDAR", 3 i.7011orth 9.Strati Camddr 4,Le-4444450.1 Co.Ndrir Kraft Manor,Fountain Plain Arch MW Stag Plaia Area 7.Sant,ONuo Cdrndor UARKET 5c0 I Inc' 57701 irir::i 16,104 1 111:1 5509 19.503 256.040 21,400 Ill 600 24.165 328.206 M1,160 3117 .'fwyl 26.394 49065 36.644 22,100 50 555 13 4,.4.: 163 364 111440 47800 5.400 08.750 11.9::t. 174 315 9.600 40.700 50.300 7653 18.000 1 3.244 ''i081= 41.697 16.473 5 501 81,173 6.100 44.030 107.095 1:ro 163.573 216610 371,167 711:18 14,:Q 2,250 93 164 I d`0 108,95? 90.500 16,050 33.754 0o1, 04,174 35,000 34.021 69.621 451.751 164.556 192.570 700.377 19,775 1,103.551 i SHANER APPRAISALS, INC. Market Analysis - Retail/Office • 167 Downtown Salina H.D. Lee Complex Competitive Retail There are multiple business districts located within the City of Salina that provide direct competition for the downtown district that the subject property is located in. They include: • Central Mall — Located at 9`h Street and Magnolia this is an enclosed mall with over 50 stores, including large anchor department stores Sears, J.C. Penney and Dillard's, several restaurants, an eight-plex movie theatre and several other stand alone businesses. • Mid-State Plaza — Located on South 9`h Street, this was the City of Salina's first shopping mall that was converted from an enclosed mall to a strip shop. It contains about 20 stores including large anchors such as Sutherlands and Hobby Lobby and several other stand alone businesses. • Galaxy Center—A strip mall of 21 stores located on South 9th Street. • Southgate — Located in the 2000 block of S. Ohio containing Dillon's grocery store, banks and various retail. • Oak Park Village— Located in the 1800 block of S. Ohio containing government offices, restaurants and retail shops. • Elmore Center — Located in the 600 block of East Crawford, a strip mall with a mixture of commercial and service oriented properties. • Kraft Manor — A strip center with multiple tenants located in the 1800 block of South 9th Street, which includes apartments above the retail. • South Ninth — Located between Magnolia and Schilling include multiple big- box tenants including Wal-Mart, Sam's Club, Target and a wide variety of sit- down and fast-food restaurants. • Sunset Plaza — Located in the 1300 block of West Crawford this is a strip mall of Spanish style architecture that includes a Dillon's supermarket, restaurants and various retail and service properties. • South Santa Fe corridor — Located north of Kansas Wesleyan University there is an assortment of retail oriented to the needs of students and neighborhood residents. • Interstate 70/North 9`h Street—This area is aimed at interstate traffic and includes motels, restaurants and two truck stops. • Broadway Boulevard — This is the original bypass around the City of Salina's western edge that contains restaurants, discount stores and various retail and service properties. • SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 168 Downtown Salina H.D. Lee Complex • Vacancy Rates One of the primary measures of the supply and demand relationship is the amount of vacant space available for lease in the market. No data is formally collected within the primary or secondary market areas that reflect the overall vacancy rates. According to the study survey completed by the P.U.M.A group the retail vacancy rate for the entire market area in 2002 was 13.6%. However, the retail vacancy rate for the primary market area, which included downtown, was only 7%. Discussions with local developers and real estate professionals are all in agreement that the vacancy rate downtown for retail properties is good when compared to similar communities across the state. Although the City of Salina does not track vacancy rates per se, the Salina Downtown group does closely monitor the available properties located within the downtown area. In fact, they list the available properties in their newsletter, the latest of which portrayed only 13 retail units available for lease or sale downtown. Meanwhile, the City of Salina has a reported 1,771 retail and commercial businesses. Physical inspection of the entire downtown area displayed a minimal amount of for sale and or lease signs and only a few of the properties were obviously vacant. According to the City Planner, the vacancy rates within the City of Salina have traditionally always been within the top five or ten of all the cities statewide. • Construction We have surveyed the City of Salina commercial permitting records over the past five years to examine the type of recent construction that has taken place within the primary market area. The vast majority of all construction work involved interior alteration, tenant finish and small additions to existing properties. • SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 169 Downtown Salina H.D. Lee Complex III Larger construction projects including new retail facilities: 2002 Dillons Gas Station 2630 Planet Avenue Best Inn Hotel 429 W. Diamond Drive Countryside Plaza 1650 S.Ohio First Covenant Church 2625 E. Magnolia Road Sams Club Addition 2919 Market Place Carlson Ford Funeral Home 500 S. Ohio Eaglecrest Retirement Home 1501 E. Magnolia Road 2003 Dillons Southgate 2012 S. Ohio Street Kennedy& Coe 3030 Cortland Circle Marshall Motors 3500 S. 9'''Street Cancer Center 511 S. Santa Fe 2004 Reserves at Prairie Glen 2515 S. Ohio III Stow-a-way storage 3335 S. 9"' Street Salina Library Addition 301 W. Elm Wendy's 3019 Riffel Drive McIntire Welding 2231 Centennial Road Courtyard by Marriot 3020 Riffel Drive McDonalds 701 S. Broadway 24/7 Convenience Store 2230 N. 9'h Street Storage Mart 2820 Foxboro Drive Pioneer Presidents Place 245 S. 8'h Street Crestwood Cabinets Addition 601 E.Water Well Road Southgate Business Complex 1013 Albert Avenue 2005 Presbyterian Manor Addition 2601 E. Crawford Christ the King Church Addition 111 W. Magnolia Road Ponderosa Renovation 200 E. Diamond Drive Reserves at Prairie Glen 2515 S. Ohio Broadway Mini Storages 2121 Centennial Road St. Elizabeth Ann Addition 1000 Burr Oak Lane Hong Kong Buffet 2515 Market Place Vanderbilts 3005 Enterprise Drive Vortex Corporation 1725 Vortex Avenue Webster Conference Center 2601 N. Ohio s 2006 SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 170 Downtown Salina H.D. Lee Complex Bucher, Willis & Ratliff 2335 E. Crawford Avenue Kryger Glass 3120 Enterprise Drive Hobby Lobby 2450 S. 9th Street The Sign House 3110 Enterprise Drive Advance Auto 520 S. Broadway Blvd. Kansas Wesleyan Addition 100 E.Claflin Salina Regional Health Center 400 S. Santa Fe Redeemer Lutheran Addition 743 E.Magnolia Road Salina Retail Center 2629 Market Place St.Johns Military School 110 W. Otis Avenue Dollar General 840 E. Crawford Sleep Inn 3932 S. 9'h Street Taco Bell 1700 W. Crawford Avenue Doug Bradley Trucking 680 E. Water Well Road Blue Beacon Intl. Addition 500 Graves Boulevard Super 8 Motel 705 West Schilling Road 2007 Pestinger Heating and Cooling 100 E. Avenue A Triplett Self Storage 440 N. Ohio Sunflower Bank 3025 Cortland Circle Geoprobe Systems 1840 Wall Street The majority of the construction projects that have been retail in nature have taken • place in the southern part of the city. The larger projects included schools, churches, hotels, and an addition to Sams Club. They also included the Eaglecrest Retirement Community with 102 senior housing units and the Reserves at Prairie Glen apartment complex with 96 units. The Sunflower Bank Administration Building and the Cancer Center were notable but the largest project by far that has taken place within the City of Salina within the past five years was at the Salina Regional Health Center, which had construction costs in excess of 22 million dollars. Of particular interest to this study is the Pioneer Presidents Place project that is located at 245 S. 81'' Street. This project involves the renovation of the Roosevelt School. The three story building was sold to the Pioneer Group out of Topeka who converted it to use as senior apartments. This type of conversion of an existing structure with historical architectural significance is the type of project that was highlighted by the PUMA group and which is envisioned by the developers for the subject property. The vacancy and absorption of this property will be discussed later in this report. • SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 171 Downtown Salina H.D. Lee Complex • Planned Projects According to the Director of Planning for the City of Salina the only major construction project in consideration is Hawthorn Plaza. This project is in the last stages of being approved by city officials for a Planned Development District (P.D.D.). It is being developed by the Delphos Project and is located at 715 N. 9`h Street. This site is the home of the former Hawthorn School. The interior of the school is being converted to use as office space. The zoning is Planned Commercial-1 which will allow for professional office usage. This plan is being examined as a mixed-use project as there will be a residential element with each of the two developers planning on building their own personal single family dwelling on the site. In speaking with the developers they advised they had already converted a portion of the available space for office use for their real estate company. One potential issue for development of this property is the lack of elevators, which could create potential ADA accessibility issues that will have to be adequately addressed. The original building was three stories with the top two floors utilized solely for classrooms. The site also contains a single story building that was constructed at a later time. The total land area for the site is listed at 2.84 acres with a building area of 23,785 square feet. Hawthorn Plaza is planned for 16,263 square feet of finished • office space. The developers have a list of potential tenants. They plan on leasing out the individual classrooms, which are approximately 900 square feet in size. Some of the classrooms have adjoining rooms which could be utilized for a larger space. The proposed rent structure will be in the $6-7 a square foot range on a gross lease basis, not taking into account potential tenant improvements. The developer of the Reserves at Prairie Glen apartment complex has made initial inquiries with the City regarding the possibility of a multi-family development of market rate apartments. This is due to the fact that when they were leasing up Prairie Glen they received an abundance of applications from individuals who wanted an apartment but were turned down because they did not meet the income qualifications that were required. According to the developer of Prairie Glen the units when completed were rented almost immediately with a very short absorption period. In fact, many of the units were pre-leased before they even constructed the second phase of the development. Demand Population Growth As noted in the Area Analysis, population growth in the City of Salina has been slow but stable, estimated at increasing only 0.27% annually from 2000-2007. Growth • in the south area of town has been significantly stronger, thus demand for retail properties, as well as rental rates have increased primarily in this area. SHANER APPRAISALS, INC. Market Analysis—Retail/Office • 172 Downtown Salina H.D. Lee Complex Employment Growth • Employment growth has been stronger than population growth. The average compound rate of growth over the past seven years has been estimated at 1.13 %. Absorption The fact that the community has stable low vacancy levels supports the assumption that absorption has been in balance with construction. The relatively steady absorption levels have been generated by expansion of existing area retailers more than with the introduction of new retailers to the market. Much of the recent demand historically had been oriented toward big-box or category killer operations that are either free-standing or located within larger power centers. The lack of recent commercial projects to introduce new space to the market makes it difficult to analyze absorption rates. As stated earlier in the report, the majority of the most recent commercial construction took place in the mid-90's. The City planner stated that this was indicative of the cyclical development that has occurred historically within the town. Due to the length of the time that has elapsed since the last growth spurt it would be logical to assume that the market is primed for some new additions to the retail landscape. Trade Pull Factor The Kansas Department of Revenue provides an annual report providing various measures of retail market data for cities and counties throughout the state. The first • measure is the Trade Pull Factor, which examines the strength of the retail business community. It is computed by dividing the area's per capita sales tax by the statewide per capita sales tax. A trade pull factor of 1.00 is a perfect balance of trace with the retail purchases of citizens who shop elsewhere offset by the purchase of customers who live outside the designated locational area (city or county). If the trade pull factor is greater than 1.00 then this indicates that local businesses are pulling in trade from beyond their home border. Meanwhile, a trade pull factor less than 1.00 indicates that more trade is being lost than is being pulled in as the residents are shopping outside of the city or county. Another measure computed was the Trade Area Capture, which is a measure of the customer base served by a community that is calculated by multiplying the county's population by the trade pull factor. The Percent Market Share is the percent of the city or county's trade area capture when compared to the state as a whole. The last derivation analyzed is the Percent of County Trade, which is a concentration factor that shows the percent of capture of retail trade of the city within their county. City of Salina Analysis Regarding the City Trade Pull Factor the report designates the cities based on population. The City of Salina is considered a first class city as it has a population over 10,000. There were 25 cities classified as first class cities within the State of Kansas for the most recent annual report for Fiscal Year 2005. III SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 173 Downtown Salina H.D. Lee Complex • The first class city with the highest trade pull factor was Overland Park with a factor of 1.67. This measure indicates that for every resident of Overland Park, the retail community services over 1.67 persons. The City of Lenexa is second with a pull factor of 1.61. Topeka is third with a trade pull factor of 1.49 and the City of Salina is close behind in 4th place with a trade pull factor of 1.44. Cities following Salina in order include Hutchinson, Olathe, Manhattan, Leawood, Wichita, Junction City and Garden City. Historically the City of Salina has fared very well in regards to trade pull factor, placing fifth in the 2003 ranking and fourth in the 2004 ranking. It should be noted that Overland Park and Lenexa are the two strongest retail presences within the Kansas City metropolitan area. The high amount of retail sales is due to the dense population within Johnson County and the strong purchasing power. The City with the highest Trade Area Capture is Wichita. This is due primarily to the large population base of Wichita. Salina ranks eighth in this category but this ranking is considered the least pertinent of those studied as it is directly a result of the size of the overall population. A much more important measure is the Percent of County Trade. Compared statewide the City of Salina and Saline County represent the highest percentage in the State of Kansas at 95.1%. This indicates the very strong retail presence of the City of Salina to the overall marketplace within its region. As it dominates the retail trade of Salina County, the City of Salina has established itself as a powerful regional • retail center. Only six other cities in the state have percentage of county trade factors over 90%. These include Topeka, Lawrence, Liberal, Emporia, Junction City and Dodge City. • SHANER APPRAISALS, INC. Market Analysis—Retail/Office • 174 Downtown Salina H.D. Lee Complex • Salina County Analysis The Kansas Department of Revenue also studied and compiled a report for the first time in 2005 for the Trade Pull Factor on a county level. The same measures of retail market data were analyzed for all 105 counties within the State of Kansas. The Percent of Market Share represents the Trade Area Capture of a county as it relates to the State as a whole. Saline County ranked sixth state wide following Johnson, Sedgwick, Shawnee, Wyandotte and Douglas. The counties with the highest percentage of market share had significantly larger populations and the percent of market share systematically declined in correlation with the size of the overall population. However, it should be noted that there were some aberrations to this concept. Four counties within the state had a population base in excess of that of Saline County but yet captured a smaller percent of the overall market share within the state. These counties were Riley, Reno, Leavenworth and Butler. This reflects the overall strength of the City of Salina as a regional retail draw. There were only 14 counties within the State of Kansas that were found to have a positive Trade Pull Factor, which is a measure of 1.0 or greater. The highest Trade Pull Factor was in Pottawatomie County, which is due to its relatively low population combined with the strong retail presence that is found within the City of • Manhattan. The second highest Trade Pull Factor is in Johnson County, which is located in the Kansas City Metropolitan Area. Besides making up 18% of the state population and 26% of the overall retail trade within the state its location on the state line attracts shoppers not only from surrounding counties in Kansas but also from the State of Missouri. Saline County has the fourth highest Trade Pull Factor of the 105 counties within the State of Kansas, behind Pottawatomie, Johnson and Ellis. This is due primarily to the City of Salina, which makes up over 85% of the population within the County. The Trade Area Capture estimates the county's population figure by the corresponding Trade Pull Factor. This represents the actual size of the customer base that is available to the local retail community by identifying the number of shoppers that the county supports. Saline County ranks sixth in Trade Area Capture across the state behind Johnson, Sedgwick, Shawnee, Wyandotte and Douglas with a capture rate of 69,605 people based on a county population of only 53,233. III SHANER APPRAISALS, INC. Market Analysis—Retail/Office • 175 Downtown Salina H.D. Lee Complex • Trade Pull Factor Conclusions Further support of data that correlates with trade pull factor information is the commuting patterns for the market area. Research completed by the Kansas State Research and Extension Department indicates that the City of Salina has a total of 4,371 inbound commuters on a daily basis, while the outbound commuters total only 1,151. These 3,220 people become consumers within the local marketplace and expend retail dollars on a daily basis to support the economic base of the community. There are several other obvious reasons why the trade pull factor within the City of Salina is so high. The first is that its location is central for many of the smaller surrounding towns and rural communities and contains many of the larger retail big- box stores that allow a consumer to shop for a wide variety of retail needs in a single specific location. Examples of these types of retailers include Wal-Mart, Sam's Club, and Target, all of which are conveniently located near the interstate. Within close proximity are popular retail establishments such as Hobby Lobby, Lowe's and Sutherlands. Other important factors that bring potential retail consumers to the market area • include the Health Center which serves the entire region, the convention visitors to the Bicentennial Center, being the county seat that houses all of the local governmental offices and all of the annual cultural events and festivals. Lastly, the location of the City directly off of Interstate 70 is one of the most accessible communities to travelers across the State of Kansas. It is located a good distance west of Kansas City and also is accessible via for north-south travelers off of Interstate 135. Interstate 70 carries almost all of the cross-state traffic and the City of Salina represents one of the last major opportunity stops, particularly for westbound travelers. Following are pertinent tables of the City and County reports prepared by the Kansas Department of Revenue that were the basis for the analysis on Trade Pull Factors. S SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 176 2 m m -ti Table 1 ( City Trade Pull Factors,Trade Area Capture,Percent of County Sales ✓ FY 2005 (certified 7/2005) z Collections FY 05 Pull Trade Percent 2004 Population P City FY 05 Per Capita Factor Area Capture of County Sales less Institutionalized Group A,1st Class Cities Overland Park $ 174,613,917.68 $ 1,083.19 1.67 $ 269,728 39.1% 161,204 Lenexa 5 43,646,428.49 5 1,042.18 1.61 5 67.421 9.8% 41,880 Topeka $ 114,672,076/6 5 965.81 1.49 $ 177,135 92.4% 118,731 Salina $ 42,108,179.53 $ 929,52 1.44 $ 65,045 95.1% 45,301 Hutchinson $ 33,990,853.93 $ 892.76 1.38 $ 52,506' 84.1% 38,074 Olathe $ 92,463,444.91 $ 859.55 1.33 5 142,829 20.7% 107,572 Manhattan $ 37,331,759.39 $ 807.89 1.25 $ 57,667 89.3% 46,209 Leawood $ 23,668,979.68 $ 803.81 1.24 5, 36,562 5.3% 29,446 Wichita $ 275,477,204.42 $ 785.55 1.21 $ 425,533 80.3% 350,682 Junction City $ 12,900,349.83 $ 778.25 1.20 $ 19,927 90.1% 16,576 Garden City $ 20,688,257.82 $ 764.59 1.18 $ 31,957 82.8% 27,058 Liberal $ 14,835,884.90 5 742.43 1.15 $ 22,917 93.5% 19,983 y Pittsburg $ 13,781,287.68 $ 731.76 1.13 $ 21,288 72.9% 18,833 0 w Shawnee $ 40,278,779.18 $ 719.42 1.11 $ 62,219 9.0% 55,988 0 ;� Dodge City $ 18,300,089.17 5 718.35 1.11 $ 28,268 92.4% 25,475 0 D Lawrence 5 58,300,971.18 5 716.08 1.11 $ 90,058 90.9% 81,417 C = Fort Scott $ 5,439,811.95 $ 691.91 1.07 $ 8,403 85.6% 7,862 so ■ Emporia $ 18,130,215.13 5 688.94 1.06 $ 28,006 94.3% 26,316 3 N Atchison $ 6.578,785.65 $ 666.07 1.03 $ 10,162 87.5% 9,877 m N Coffeyville $ 6,715,812.43 5 655.52 1.01 $ 10,374 36.3% 10,245 Newton $ 11,321,364.75 S 641.76 0.99 $ 17,488 68.7% 17,641 m JJ cp Parsons $ 6,501,533.28 5 590.67 0.91 $ 10,043 75.7% 11,007 I co Leavenworth $ 16,826,925.60 S 528.22 0.82 $ 25,993 65.4% 31,856 a o Kansas City $ 72,607,288.89 $ 503.73 0.78 $ 112,157 87,3% 144,138 Prairie Village $ 9,147,395.50 5 427.37 0.66 $ 14,130 2.1% 21,404 m n 0 cp Total, Group A $ 1,170,327,597.73 5 798.98 1.23 $ 1,807,818 1,464,775 0 • %of Statewide 68.1% 123.4% 68,1% 55.2% 3 ✓ Statewide Total $ 1,717,771,473.00 $ 647.37 1,00 $ 2,653,460 2,653.4601 c --+ x • III III Downtown Salina H.D. Lee Complex • Table 1. County Trade Pull Factors,Trade Area Capture,Market Share Fiscal Year 2005 County Percent of KS Econ Adjusted State Sales Tax Per Capita Trade Pull Trade Area Market Dev County Population Collection Sales Tax Factor Capture Share PF Region Region Pottawatomie 18,729 S 17,673,868 $ 943.66 1.48 27,774 1.03% NC III Johnson 492.916 $ 447,090.615 $ 907.03 1.43 702,590 26.12% NE I Ellis 26,737 S 24,145.014 $ 903.06 1.42 37,943 1.41% NW IX Saline 53,233 $ 44,292.974 $ 832.06 1.31 69,605 2.59% NC X Thomas 7,683 $ 5,916,437 $ 770.07 1.21 9,298 0.35% NW VIII Sedgwick 459.865 $ 343,198.175 $ 746.30 1.17 539,326 20.05% SC IV Shawnee 167,820 $ 124.116.893 $ 739.58 1.16 195,046 7.25% NE I Pratt 9.273 $ 6,844.213 $ 738.08 1.16 10,755 0.40% SC V Sherman 6,146 $ 4,461,413 $ 725.91 1.14 7.011 0.26% NW VIII Ness 3,004 $ 2.087,856 5 695.03 1.09 3,281 0.12% SW VI Seward 23,011 $ 15.870,093 $ 689.67 1.08 24,939 0.93% SW VII Barton 26,928 $ 18.491,403 $ 686.70 1.08 29,059 1.08% SC V Reno 60,710 $ 40,406,358 $ 665.56 1.05 63,497 2.36% SC IV Finney 39,034 $ 24,995,156 $ 640.34 1.01 39,279 1.46% SW VII Douglas 102,203 $ 64,154,030 $ 627.71 0.99 100,816 3.75% NE I Neosho 16,258 $ 9,884,636 $ 607.99 0.96 15,533 0.58% SE II Ford 32,776 $ 19.813,228 $ 604.50 0.95 31,136 1.16% SW VI Cloud 9,433 $ 5.676,601 $ 601.78 0.95 8,921 0.33% NC X Mcpherson 28,755 $ 16.873,449 $ 586.80 0.92 26,516 0.99% NC IV Mitchell 6,324 $ 3,643,078 $ 576.07 0.91 5,725 0.21% NC X Geary 24,883 $ 14.321.831 $ 575.57 0.90 22,506 0.84% NC III Grant 7,614 $ 4,373,753 $ 574.44 0.90 6,873 0.26% SW VII • Scott 4,605 $ 2.630,499 $ 571.23 0.90 4,134 0.15% SW VII Barber 4,934 $ 2,774,841 $ 562.39 0.88 4,361 0.16% SC V Lyon 35,291 $ 19,217,593 $ 544.55 0.86 30,200 1.12% NC III Montgomery 34,418 $ 18,524,654 $ 538.23 0.85 29,111 1.08% SE II Wyandotte 155.371 $ 83,168,151 $ 535.29 0.84 130,696 4.86% NE I Graham 2.700 $ 1,379,425 $ 510.90 0.80 2,168 0.08% NW IX Crawford 37.362 $ 18,918,208 $ 506.35 0.80 29,729 1.11% SE II Russell 6,806 $ 3,426,547 $ 503.46 0.79 5,385 0.20% NW IX Harvey 32.978 $ 16,490,776 $ 500.05 0.79 25,915 0.96% SC IV Harper 6,070 $ 3,020,563 $ 497.62 0.78 4,747 0,18% SC V Gove 2,792 $ 1.367,929 $ 489.95 0.77 2,150 0.08% NW IX Morton 3,212 $ 1,562,390 $ 486.42 0.76 2,455 0.09% SW VII Riley 62,642 5 30,042,430 $ 479.59 0.75 47,211 1.76% NC III Marshall 10,169 $ 4.874.189 $ 479.32 0.75 7,660 0.28% NC XI Franklin 25,734 $ 12,202,056 $ 474.18 0,75 19,175 0,71% NE I Logan 2,770 $ 1,301.213 5 469,75 0.74 2.045 0.08% NW VIII Comanche 1,833 S 857,959 5 468.06 0.74 1,348 0.05% SW V Dickinson 18,802 S 8,797,424 S 467.90 0.74 13,825 0.51% NC III Miami 29,106 $ 13,468,643 $ 462.74 0.73 21.166 0.79% NE I Rooks 5,189 $ 2,381.843 $ 459.02 0.72 3.743 0.14% NW IX Kiowa 3.024 $ 1,384.019 S 457.68 0.72 2,175 0.08% SW V Atchison 16,535 S 7,520,066 $ 454.80 0.71 11,818 0.44% NE XI Trego 3,049 5 1,370.585 5 449.52 0.71 2.154 0.08% NW IX Allen 13.760 $ 5,983.999 $ 434.88 0.68 9.404 0.35% SE II Bourbon 14,861 $ 6,352,975 $ 427.49 0.67 9,984 0.37% SE II Cowley 34,788 $ 14,831,281 $ 426,33 0.67 23,307 0.87% SC IV Butler 59.767 $ 25,368,641 $ 424.46 0.67 39.866 1.48% SC IV Norton 5,058 $ 2,128,808 $ 420.88 0.86 3.345 0.12% NW IX • SHANER APPRAISALS, INC. Market Analysis- Retail/Office • 178 cA • D m z) Map 1. County Trade Pull Factors By Kansas Economic Reporting Regions Fiscal Year 2005 Z p 0.47 9.45 0.44 0.66 0.65 0.54 0.36 o.SA 0.43 (17� 0.G4 0.63 0.39 Washington Marshall Ncmaha Brown pool ph n (heyenne Rawlins , Decatur Norton Phillips Soli Ili Jewell Republic /L�i 0.71 t� 0.95 1.14 4�1.21 0.8t1 U.7_' 0.63 0.91 Cloud 1.48 0.66 Atchison 0.58 Mitchell t1'63 Pottanah+mic 0.61 0.75 Jacksnn 03d ��'-'�, Leav north Sherman Thomas Sheridan Graham Rooks Osborne 1 Y 11 0.36 Clay t> IefFerson Ii.R4 0.37ndottc 0.55 0.74 0.77 0.71 2 0.79 (t 90 � 1.16 t.S- Ottawa 11._9 Lincoln 1.31 0.74 1 Gear• Shawnee t1.'49 1.43 Go,e frr a Russell \'ahaunSCt�--- Wallace 1 Logan t Ellis /}tom Douglas •tnhnsun 0.63 Dickinso \� 11.39 saline Ellsworth 0.59 (1.75 Iv 0.61 0„53 1190 0.52 1.09 0.37 1 ( Dlorrjs (1186 Osa99e Franklin M1tiami - I.OR ^�'-, 11.92 0.49 ° O rt Greeley %Wichita Scott Lane Ness Rush (1154 NIcl'herson 0.39 Lyon wr > Barton 1larion 0.66 0.56 0 39 � (� 0.37 11.64 Rice Chase 0 Anderson a) Pawnee 11.54 p,7� Coffey Linn N 0.57 0.38 1.01 �E{ndl eman I.05 Ilarvev f co Vi 0.47 Stafford 0.67 0.45 11.42 D.68 0.67 0) Ilamiltou Kearny Finne+ --- Wtmilsrm Allen 'Bourbon XI 0.50 1}Ay Edwards 1.16 Reno 1.17 Butler CD 0.90 0.56 0.95 �, Greenwood G _ p+ Ilaskell Gray Ford D. _ D.59 Sedgwirk (� 0.49 0.96 0.80 Stanton Grant Kiowa raft 0.43 \%ikon Neosho Crawford -L Kingman Elk /tw r 0 0.76 (1.64 1.08 0.46 0.42 0.74 0.88 0. g 0.46 0.67 `� CDD 0.85 0.62 0.38 (� n (nwle■ 0.37 Morton Stescas Feuard Alcadc Clark Comanche Barber harper Sumner (Chautauqua Iontgome • Labette Cherokee 3 -'l tD co . x • • • Downtown Salina H.D. Lee Complex • Downtown Area Overview In order to analyze the potential retail market for the subject property, the analysts have analyzed data on population, average household size, average household income and buying patterns within the subject's trade area. Based on an analysis of competition, drive times, and population, we have estimated the primary trade area for the subject to be within the City of Salina and the secondary trade area for the subject to be within the Salina, Kansas Micropolitan Statistical Area, which includes all of Saline County and small portions of all adjoining counties. Significant factors pertaining to this trade area are discussed as follows. Supply Age of Improvements The competitive buildings in the subject's submarket area are generally older, turn of the century properties. Size of Submarket The size of the subject's submarket area (Downtown) was estimated to be 548,600 square feet, according to Progressive Urban Management Associates. The estimated size of the subject's trade area within the City of Salina was estimated by IIIthe PUMA group to be 2,641,600 square feet. Occupancy As of the study undertaken by P.U.M.A., the subject market's overall occupancy rate was estimated to be 93%. A survey of current occupancy was beyond the scope of this study, but our observation of vacancies in the downtown submarket is that current occupancy is consistent with the PUMA study. There have no more current surveys taken but this figure is considered to still be fairly accurate based on conversations with the City planning department and local realtors and property owners. • SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 180 Downtown Salina H.D. Lee Complex • Existing Retail Currently the downtown area has approximately 154 existing retail businesses. The chart that follows outlines the various types of properties. Source: Salina Downtown, Salina Area Chamber of Commerce Shopping Quantity Luggage 1 Antiques 6 Automotive Retail 3 Business needs 9 Clothing/Footwear 7 Electronics/Computers/Communications 10 Gifts/general merchandise 12 Grocery stores 2 Home furnishings 7 Music 3 Pets 2 Flower shops 2 Jewelry 1 Gourmet foods 2 Leather stores 1 Sewing 4 • Specialty 12 Retail Services Quantity Auto repair services 5 Banks 9 Photography/video 5 Museums/galleries/theatres 8 Personal services 12 Printing 7 Private Instruction studios 5 Restaurants/drinking 17 Travel 2 Total 154 • SHANER APPRAISALS, INC. Market Analysis —Retail/Office • 181 Downtown Salina H.D. Lee Complex II Rent Cornparables In regards to rental rates a survey has been completed of various retail properties within the City of Salina primary market area. Following are photographs of the comparable rental properties with short write-ups that include the location and rental terms and analysis of the retail rental structure. A summary chart is also included that indicates appropriate rental ranges. According to local realtors, brokers, landlords and tenants, the vast majority of the retail properties with the downtown area are leased on a gross lease basis with the landlord paying for all the utilities. Meanwhile, much of the commercial space in the southern portion of the City of Salina is leased on a triple net basis with the tenant responsible for all the utilities. Within the commercial marketplace as whole, rental terms, rates and types vary significantly as evidenced by the following rent comparable information. III • SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 182 Downtown Salina H.D. Lee Complex 4111 RETAIL COMPARABLE RENTALS M S !<:-x Sprint store located at NEC 9'h & Belmont $12.50/sf,triple net ......, M �m,.W--gym_. 06/08/2007 HB Stereos located at 2670 Planet Avenue $10.00/sf, triple net, 13,000 SF • SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 183 Downtown Salina H.D. Lee Complex • RETAIL COMPARABLE RENTALS 06/08/2007 • Galaxy Center located on South 9'h Street $11.25-$11.50/SF,triple net, 1,500 to 5,000 SF Ni r R. *'2 Ili Sig 1 a k IC 119 S. Santa Fe Street • $4.80/SF,triple net, 3,000 SF SHANERAPPRAISALS, INC. Market Analysis — Retail/Office • 184 Downtown Salina H.D. Lee Complex • RETAIL COMPARABLE RENTALS • p ma ma Is alaiaiat---- l-r-atmuat-- . • • • 1 i [Ala ._..at�..�- rartprrtnaei... .411Pt6i r•>'rr:r r•.r, �Aµe� 06/0$/2007: k' • 115 N. Santa Fe • $3.70/SF,gross, 3,000 SF . • L. ! L. L_ __ L L_, .w F r /f(fffffffffII/IllhIIIffflflhIIII1IIIIf .� _ 06/08/2007: 108 N. S anta Fe • $3.84/SF ($800/mo), gross, 2,500 SF SHANERAPPRAISALS, INC. Market Analysis — Retail/Office • 185 Downtown Salina H.D. Lee Complex 0 RETAIL COMPARABLE RENTALS ^i^, ,`- k �dv,, e3 tk,,.4-4.t.447 a „E % � i a EYE fly 1 ' , . A.,.... ,_ ,....._.....______, _ ....... ... igtor- 06/08/2007 SEC Santa Fe & Iron Street $4.80/SF ($1,000/mo),gross, 2,500 SF, 3-yr term S t , miifa E ismiii 4r..nu1 Wel* al: - y.,.. .- . iii _ *Ait. 111-25 East Iron Street $7.39/SF ($400/mo),gross, 650 SF 110 SHANER APPRAISALS, INC. Market Analysis — Retail/Office • 186 Downtown Salina H.D. Lee Complex RETAIL COMPARABLE RENTALS . 0- 10 4 T a 202 E. Iron Street $7.00/SF, gross, 3,250 SF • 204-08 E. Iron Street $6.38/SF ($850/mo), gross, 1,600 SF, 3-yr term • SHANER APPRAISALS, INC. Market Analysis — Retail/Office • 187 Downtown Salina H.D. Lee Complex • RETAIL COMPARABLE RENTALS a 7 . i Ate` s •1� i assn',2�' :•k `� al '—• 201-05 S. 5th Street& 204-08 E. Walnut $9.75/SF ($650/mo), gross, 800 SF v_« i Nan ,is`Itj, 1\1 .. .. • 06/08/2007 205 West Ash Street $6.84/SF ($570/mo), gross, 1,000 SF SHANERAPPRAISALS, INC. Market Analysis— Retail/Office • 188 Downtown Salina H.D. Lee Complex • RETAIL COMPARABLE RENTALS 41 a 9 7 ; .. :: ,��...... � � l r '"pq � C..try. 7�'1�'m,f `A The Dance Academy K �~ �5.... CIF .. i4.,..*...:. 06108/2007 155 N. 7th Street • $8.52/SF ($1,200/mo), gross, 1,690 SF, 5-yr term • SHANERAPPRAISALS, INC. Market Analysis— Retail/Office • 189 Downtown Salina H.D. Lee Complex • Retail Comparable Rental Summary 202 E. Iron Street $7.00/SF Gross 3,250 SF 204-08 E. Iron Street $6.38/SF Gross 1,600 SF 201-05 S. 5'h & 204-08 E. Walnut $9.75/SF Gross 800 SF 115 N. Santa Fe $3.70/SF Gross 3,000 SF 108 N. Santa Fe $3.84/SF Gross 2,500 SF SEC Santa Fe & Iron $4.80/SF Gross 2,500 SF 111-25 East Iron Street $7.39/SF Gross 650 SF 205 West Ash $6.84/SF Gross 1,000 SF 155 N. 7h Street $8.52-$9.75/SF Gross 1,690 SF/4,310 SF 119 S. Santa Fe $4.80/SF Triple Net 3,000 SF 9`h & Belmont $12.50/SF Triple Net N/A • 2670 Planet Avenue $10.00/SF Triple Net 13,000 SF Galaxy Center S. 9'h Street $11.25 $11.50/SF Triple Net 1,500— 5,000 SF 203 S. Santa Fe $12.00/SF Gross 480 SF 141-147 S. Santa Fe $3.23/SF Triple Net 13,750 SF 2525 S.Ohio $10.50/SF Triple Net 12,000 SF 110 S. Santa Fe $2.18/SF Gross 5,500 SF 409 S. Broadway $4.29/SF Triple Net 3,500 SF 417 S. Broadway $2.21/SF Triple Net 3,800 SF 427 S. Broadway $4.27/SF Triple Net 4,500 SF 1124 W.Crawford $4.63/SF Triple Net 3,500 SF 1207 Holiday $6.00/SF Triple Net 2,200 SF 201-13 S. Broadway $2.89/SF Triple Net 8,300 SF 1622 E. Iron $5.50/SF Triple Net 1,800 SF 1800 S. 9`h Street $10/SF Gross 1,200 SF 4111 Average „ $6.87= 4,012 SF ,... �. ,. , .<.�.. SHANER APPRAISALS, INC. Market Analysis — Retail/Office • 190 Downtown Salina H.D. Lee Complex The comparables have a fairly wide range in terms of price per unit basis and size of • the rentable area. The higher priced comparables are mostly located in the southern portion of the City. There are a few higher priced rentals in the downtown area but the majority of the downtown properties are in the $3.50 to $7.50 per square foot range. The typical downtown size is 2,500 (25x100) or 3,000 (25x120) square feet. The smaller properties such as the 650 square foot and 800 foot rentals actually represent larger buildings that have been subdivided into several smaller units. These are particularly appealing to the incubator style tenants who want a downtown storefront but who also want to keep overhead down while they start their business. These properties due to their smaller size also demand a higher return to the owner on a price per unit basis. • • SHANER APPRAISALS, INC. Market Analysis—Retail/Office • 191 Downtown Salina H.D. Lee Complex • Area Demographics Demographic data of the subject's primary and secondary trade areas is presented in the following table, along with 5-year projections. It is important to note that these demographics reflect a trade area with population growth of less than 2% over the next five years. TRADE AREA DEMOGRAPHIC STATISTICS Demographic Variable PMA SMA Population Statistics 2007 Estimate 46,458 61,339 2012 Projection 47,090 62,465 2007-2012 1.36% 1.84% Household Statistics(#) 2007 Estimate 18,953 24,623 2012 Projection 19,248 25,111 2007-2012 1.56% 1.98% ID Average Household Income 2007 Estimate $57,317 $58,263 Median Age 2007 Estimate 36.4 years 37.9 years Source: ESRI Population/Household Formation The data indicates that the area will experience positive population trends over the next several years. The population and the number of households is projected to increase slightly within the primary and secondary trade areas between 2007 and 2012. It is estimated that there will be 295 new households in the PMA and 488 new households in the SMA over the next five years, representing an increase at 1.56 percent in the PMA and 1.98 percent in the SMA. II SHANER APPRAISALS, INC. Market Analysis—Retail/Office • 192 Downtown Salina H.D. Lee Complex Average/Median Household Income • According to the demographic profile, the 2007 average household income in the trade area is $58,263. Household incomes within the primary and secondary markets are expected to grow steadily, but slowly, over the next five years. Given the socio-economic status within the trade area as well as projected growth in population and income levels, the overall outlook for this market is somewhat positive. Buying Power and Retail Sales Potential The subject trade area exhibits increasing buying power by virtue of modest increases in households and income levels. This translates into increased retail sales potential. However, not all of a trade area's gross income is utilized for retail expenditures. Typically, only 40 to 50 percent of gross household income is available for retail purchases. The balance is utilized for housing, insurance, medical expenses, taxes, pensions, and savings; items otherwise known as non-retail expenditures. For the subject's trade area, we have estimated retail sales potential at 41 percent of total household income. This figure is based on the Consumer Expenditure Survey data compiled by the Bureau of Labor Statistics and reflects trends exhibited in the Midwest part of the U.S. The calculation is shown as fol lows. HOUSEHOLD INCOME AND BUYING POWER CONSUMER UNITS MIDWEST U.S. . $ °/° of Gross Income Gross Household Income $56,605 -- Less:Taxes a $11,578 20.5% Net Disposable Income or Effective Buying Income(EBI) $45,027 79.5°/° Less: Non-Retail Expenditures: Housing b $14,151 31.4% of EBI Medical C $2,841 6.3°I Personal Insurance and $5,212 11.6% Pensions d Recreation e $2,384 5.3% Savings' $1,868 4.2% Total Non-Retail Expenditures $26,456 58.8% of EBI 46.7% of Gross Income Retail Buying Power $18,571 41.2% of EBI 32.8% of Gross Income Totals $45,027 100.0% of EBI 79.5% of Gross Income a Federal income taxes; state and local income taxes; and other taxes including personal property bShelter; Utilities,fuels,and public services; household operations `Health Insurance and medical services d Life and other personal insurance and pensions and Social Security 'Fees and admissions 'Income after taxes less average annual expenditures Source: U.S. Department of Labor, Bureau of Labor Statistics,Consumer Expenditure Survey 2005 III SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 193 Downtown Salina H.D. Lee Complex • Trade Area Demand for Retail Space Although the subject's trade area reflects increasing retail sales potential, this future potential must be measured to determine its ability to support current and proposed retail development within the trade area. In other words, how do the trade area's retail sales potential translate into demand for retail space? This is a very important measure for the subject because it determines if existing demand can support current retail inventory levels and whether enough demand exists to warrant additional retail properties. To make this determination, again referencing the PUMA report and from our inspection and conversations with market participants, we estimated the competitive supply of retail space within the subject's trade area at approximately 3 million square feet. Expenditure data on convenience and shopper goods was then utilized to determine the percentage of retail purchases typically made at retail properties. Based on information from the Census of Retail Trade, this percentage was estimated at 65 percent of retail sales potential. Finally, we estimated the sales required per square foot of supportable retail space. Based on Shopping Center Census Data for the State of Kansas, market retail rent levels and a reasonable ratio of rent as a percentage of sales; we have estimated a required mean sales volume level of $200 per square foot. • A synthesis of our analysis is presented as follows. It assumes a 75 percent retail sales retention within the trade area. We have first run the scenario utilizing average household income levels. III SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 194 Downtown Salina H.D. Lee Complex • TRADE AREA SUPPORTABLE RETAIL SF&(EXCESS)/MARGINAL DEMAND Description Amount Total number of households in Trade Area (Year 2012) 25,111 Current Trade Pull Factor of 1.44 36,160 Household Average Income(Year 2012) $68,852 Trade Area Aggregate Income $2,489,688,320 Percentage of Income Spent on Retail Purchases 41% Percentage of Retail Purchases Made at Competitive Retail Properties 65% Retail Sales Potential in Primary Trade Area $663,501,937 Retail Sales Retention—Primary Trade Area 75% Sales Required Per Square Foot $200 Supportable Square Footage of Retail Space— Primary Trade Area 2,488,132 Potential supportable SF of Retail Space from Secondary Trade Area 25% Supportable Retail Space— Primary and Secondary Trade Area 622,033 Plus Frictional Vacancy(normal vacancy) 3,110,165 Total Supportable Retail Square Footage— Primary Trade Area 6% 3,296,775 Less existing Square Feet of Retail Space(Rounded) 3,000,000 • Net(Excess)or Shortage of Supportable Retail Space-Marginal Demand 296,775 Compiled by: Shaner Appraisals, Inc. The demand analysis from this aspect portrays that the market area in 2012 would have a shortage of 296,775 square feet of retail space to support the projected sales. This analysis is based on an established model which projects the number of households and the amount of the average household income to estimate the potential retail sales. However, the inherent flaw with this analysis is the fact that the sales are projected and are based solely on number of households and household average income and then discounted by estimated factors in regards to the percentage of income spent on retail purchases and the percentage of retail purchases made at competitive retail properties. The problem is that this traditional model approach does not take into account the unique economics of the Salina marketplace as a regional retail destination, even though the trade pull factor has been accounted for. However, it is this stair-step analysis that attempts to derive what is really from a practical aspect the one figure that is of the utmost importance-retail sales within the primary trade area. The following analysis is based on the same foundational formulations utilized previously but instead of deriving the retail sales potential within the primary trade area from household growth and income projections we have utilized actual reported sales information as derived from sales tax analysis. • All of the other assumptions made in the prior analysis were likewise incorporated SHANER APPRAISALS, INC. Market Analysis—Retail/Office • 195 Downtown Salina H.D. Lee Complex • in the following synthesis. We have run this scenario not for the specific primary or secondary markets utilized in this report but instead for Saline County. The reason for this is because the information collected by the Kansas Department of Revenue reports the actual sales data as shown by sales taxes collected but does it on a county basis. It should be noted that the secondary market area, which is the true market for this potential project due to its wider regional impact, is primarily accounted for by Saline County. 2006 Population 2006 Population Sales 2006 Saks 2006 V.Change 2005 to 2006 Saline 54.879 54,944 9906,240,000 5950,293,000 4.9% SOURCE Kansas Depart ment of Revenue TRADE AREA SUPPORTABLE RETAIL SF&(EXCESS)/MARGINAL DEMAND Description Amount Retail Sales Potential in Trade Area 950,293,000 Retail Sales Retention —Primary Trade Area 75°I° • Sales Required Per Square Foot $200 Supportable Square Footage of Retail Space—Primary Trade Area 3,563,599 Plus Frictional Vacancy (normal vacancy) 6% Total Supportable Retail Square Footage—Primary Trade Area 213,816 3,777,415 Less existing Square Feet of Retail Space(Rounded) 3,000,000 Net(Excess) or Shortage of Supportable Retail Space-Marginal Demand 777,415 Compiled by: Shaner Appraisals, Inc. The above analysis indicates that currently a significant shortage of retail space exists within the City of Salina to support the actual amount of retail expenditures that take place. The retail sales potential within the trade area reported above is a figure for actual 2006 sales. The 2005 report for sales within Saline County based on sales tax collections was $906,240,000. This indicates a 4.9% annual change. Leakage Analysis Supply (retail sales) represents sales to consumers by establishments. Sales to businesses are excluded. Demand (retail potential) estimates the expected amount spent by consumers at retail establishments. Supply and demand estimates are in • current dollars. SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 196 Downtown Salina H.D. Lee Complex The analysis and figures for the leakage analysis are based on the ESRI report for III RetailMarketPlace Profile that is provided on pages 130-132 in the Demographics Section of this report. The Leakage/Surplus Factor presents a snapshot of retail opportunity. This is a measure of the relationship between supply and demand that ranges from +100 (total leakage) to -100 (total surplus). A positive value represents "leakage" of retail opportunity outside the trade area. A negative value represents a surplus of retail sales, a market where customers are drawn in from outside the trade area. This leakage analysis is directly in line with the previous data provided regarding the strength of the trade pull factor within the primary market area. The Retail Gap represents the difference between retail potential and retail sales. ESRI uses the North American Industry Classification System (NAICS) to classify businesses by their primary type of economic activity. Retail establishments are classified into 27 industry groups in the retail trade sector, as well as four industry groups within the food services and drinking establishments subsector. Of the different classifications there are only two that indicate a positive value representing "leakage". Those categories are general merchandise stores and limited-service eating places and special food services. All of the remaining classifications not only displayed negative surplus values but they averaged almost - 42. The disparity in the two approaches indicates the importance of the trade pull factor and the retail sales leakage analysis. The trade pull factor of 1.44 represents that an • additional 44% of the sales within the City are generated by customers that are from outside the market area. With annual sales last year of over $950,000,000, the additional 44% accounts for approximately $290,000,000 in surplus provided by consumers outside the primary market area. Further, the $290,000 is considered to represent a minimum number as it has been alluded to that the City of Salina residents have shown a tendency to be conservative in regards to their actual retail expenditures. As previously mentioned in this report, the significantly higher daily number of inbound commuters compared to outgoing commuters is another fact that leads to the results we see indicated with the trade pull factor and retail sales leakage figures. Despite the fact that retail spaces in addition to what is currently forecasted will likely reduce the indicated demand, there appears to be strong demand for retail space in the subject trade area. In addition, the subject's immediate market contains a somewhat limited amount of properly zoned land available for development. Conclusion— Retail Demand and Analysis Growth in employment and retail sales both positively influence the market. Retail sales have steadily increased and the trade area population is forecasted to increase slightly over the next 5 years. There is a limited amount of retail development proposed in the area at this time. Furthermore, given the limited amount of properly zoned developable land, there are somewhat limited options available • within the subject's trade market. Overall, the outlook for the Salina retail market is strong which would reflect projected growth in rental rates and stabilization of SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 197 Downtown Salina H.D. Lee Complex • occupancy rates. The area's demographic factors such as steady population, increasing households and income growth further support such an outcome. The trade area demand for retail space is thus estimated to be somewhere between approximately 300,000 and 750,000 square feet short of what is required. The subject property will be new construction and of superior condition and quality to the majority of the rental space surveyed. As such, it should demand rental rates in excess of the average of $6.87 per foot. However, the downtown location has not historically been able to replicate the rents received in the south part of town where the majority of the retail presence in the City of Salina is located. We would estimate rental rates for the retail space in the subject property to be in the $8.00- $10.00 a square foot range fora net lease. The retail portion of the subject property should contain a diverse group of retailers. These retailers should include a combination of new participants to the marketplace, national franchises and relocated proven businesses within the community. The property should be marketed as a regional attraction. In that regards it is our opinion that this segment could be adequately served by the conceptualized uses from the initial design plans. This would include a small movie theatre and some type of bar/brewery. We recommend that the bar have outdoor seating to tie in • with the open market theme. The theatre usage would tie into the already existing strong cultural presence located downtown and would appeal to local citizens and residents in outlying areas of the county. The brewery/bar would be in line with the planned use for the sites location in the mill district, based on the PUMA study recommendations. It is also a usage compatible for the area based on discussions with the City Planning Department. Each of these uses would also do something very important in terms of bringing people to the area during the evening hours. This would help support the other retail establishments and magnify the area as a true entertainment district. In keeping with what has been working well in the downtown retail area it is considered to be important to continue the availability of incubator storefronts to upstart businesses. More likely, however, due to the higher rental rate structures that would likely be in place, the subject property will appeal to existing owners already located in the downtown area that want to move up to a new trendy alternative of superior condition and quality. The specific type of tenant with the entrepreneurial spirit that wants to move from his home to a storefront is exactly the type of person that the unique and eclectic nature of the mixed-use envisioned for the subject property would appeal to. These are also the types of individuals that the loft style apartments will hopefully attract, which supports the "live, work" • concept that needs to be marketed. SHANER APPRAISALS, INC. Market Analysis —Retail/Office • 198 Downtown Salina H.D. Lee Complex The downtown area is home to many niche businesses that are located in the area • primarily due to the strength of the local cultural arts and the subject site should take advantage of that existing presence by leasing out space to some of these types of businesses. The central location of the city and government offices in downtown should also spur interest for various compatible organizations on the subject site. Basically, a resident of the loft apartments on the subject site should be able to have most all of their daily needs met within the inventory of the retail establishments within the confines of the subject project. The other basic services that must be accounted for relate to eating establishments. It is recommended that there be a wide variety of opportunities that will accommodate customers from early in the morning until late in the evening. The bar/brewery already discussed should obviously serve food as well. Several of the eating establishments would benefit from having a small outdoor seating capacity. It is very important that the subject property be properly marketed. It needs to take advantage of the strength of the retail market that exists in the City of Salina and is supported by the trade pull factors. The marketing campaign must create this as a true destination point in the region. The development will almost certainly need a strong backing from the local community, including not only support from the citizenry but also from the municipality. The developers should aggressively explore all of the potential financial incentives available for development. • • SHANER APPRAISALS, INC. Market Analysis—Retail/Office • 199 Downtown Salina H.D. Lee Complex • Office Demand Office Market Overview As previously discussed, the subject will have some office space, generally the upper floors of the commercial space with some office users located on the first floors. Given the small size of this office space and because the space is more retail in nature rather than a typical office building, we have not conducted a detailed • market demand analysis for the office space separately from the retail space. Instead, we are considering this space together as commercial space. The City of Salina has approximately 1,000,000 square feet of existing office space. Office market rents vary but most leases are on a gross basis. Only a very small portion of this space can be classified as Class "A". There is minimal demand for top-tier space as evidenced by a 12,000 square foot Class "A" building that has been on the market and vacant at Magnolia and Ohio Street for over a year. The majority of the office space within one-mile of the subject site consists of government buildings. The radius must be expanded to approximately three miles to find a higher concentration of office development. There is typically demand for some neighborhood office users and the lack of available neighborhood office space • should generate demand for the subject. In addition, the subject office space would be unlike conventional office buildings and would not compete directly with typical office buildings. An office condominium/suite usage in particular would offer a unique alternative not commonly available in most segments of the current marketplace. Executive Suites It is our recommendation that at least a portion of the office space be utilized as an office executive suite design. This would include a central receptionist surrounded by individual office space. The central area should also contain a copier and fax machine for use by the occupants of the suites. Further, there should be a conference room available to those located within the suites and possibly a small kitchenette and dining area. The office condominium would appeal to the entrepreneurial individual who does not need a large space but would be willing to pay for the advantages of having access to a conference room for meetings with clients, a dining area, someone to answer their phone and a nice copier and fax without the initial cash outlay. Traditionally these spaces are popular with sole practitioner attorneys, accountants, insurance agents, small business owners, financial planners, etc. Many of the older office buildings in downtown Wichita have been converted in a similar manner, with entire floors leased to multiple tenants, then sold to investors. In the Salina • market, suite owners would likely be users, not investors. SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 200 Downtown Salina H.D. Lee Complex The demand for the office space at the subject property will come from small users III who want to work close to where they live. Some might even live in the development. This is the case for both office and retail users. The trend today, which would be marketable with the mixed use concept contemplated by the developers for this site, is the overall desire to work at home. The amount of individuals who physically work out of a "home" office has grown astronomically within the past decade, particularly with the advancement of the internet and on-line job opportunities. According to the United States Department of Labor, Bureau of Labor Statistics, of the 136,602,000 workers over the age of 16 in the United States in 2004, 15.1% of them, or 20,673,000, people worked at home. About 5.1%, or 6,966,801, of the entire working population in the U.S. own their own home-based business. Technology that exists today will allow business owners the flexibility that they demand. In the downtown area it is important that the new office space be marketed to a wide variety of end-users. There should be expansion from the traditional local office "anchors" which consist of governmental office spaces and health care. An eclectic collection of small space occupants that would result from the office condominium/suite concept would appear to be a reasonable solution that would provide a functional alternative. Further, this type of design would be consistent with the overall theme of the mixed-use property plan. Planned Construction • There is an office project that is in the last stages of being approved by city officials for a Planned Development District (P.D.D.). It is being developed by the Delphos Project and is located at 715 N. 9th Street. This site is the home of the former Hawthorn School and is being developed with the name Hawthorn Plaza. The interior of the school is being converted to use as office space. The zoning is Planned Commercial-1 which will allow for professional office usage. This plan is being examined as a mixed-use project as there will be a residential element with each of the two developers planning on building their own personal single family dwelling on the site. In speaking with the developers they advised they had already converted a portion of the available space for office use for their real estate company. The original building was three stories with the top two floors utilized solely for classrooms. The site also contains a single story building that was constructed at a later time. The total land area for the site is listed at 2.84 acres with a building area of 23,785 square feet. When completed, Hawthorn Plaza is planned for 16,263 square feet of finished office space. The developers have a list of potential tenants. They plan on leasing out the individual classrooms, which are approximately 900 square feet in size. Some of the classrooms have adjoining rooms which could be utilized for a larger space. The proposed rent structure will be in the $6-8 a square foot range, not taking into • account potential tenant improvements. SHANER APPRAISALS, INC. Market Analysis—Retail/Office • 201 Downtown Salina H.D. Lee Complex • Existing Office Currently the downtown area has approximately 174 existing office businesses. The chart that follows outlines the various types of properties. Source: Salina Downtown, Salina Area Chamber of Commerce Office Type Quantity Accounting services 7 Architecture/Engineering 9 Business services 10 Contractors/Builders 13 Financial services 11 Government 11 Health services 40 Insurance 10 Legal 22 Media 5 Organizations/Political 10 Real Estate 12 Social services 14 Total 174 • Located at 300 South 9`h Street is the former Bartlett School that was converted into office usage. This type of project was very similar to the plans for the Hawthorn Plaza development. It is typical of the model contemplated for the subject property as it involves the renovation of a structure with historical and architectural significance into a practical modern usage. Despite numerous attempts to obtain rental rate information for this property from the ownership the analyst was not provided the requested documentation to assist in this market analysis. • SHANER APPRAISALS, INC. Market Analysis—Retail/Office • 202 Downtown Salina H.D. Lee Complex • Average Asking Rates In regards to rental rates a survey has been completed of various office properties within the City of Salina primary market area. Following are photographs of the comparable rental properties with short write-ups that include the location and rental terms and analysis of the office rental structure. A summary chart is also included that indicates appropriate rental ranges. According to local realtors, brokers, landlords and tenants, the vast majority of the rental properties within the City of Salina are leased on a gross lease basis. ID • SHANER APPRAISALS, INC. Market Analysis—Retail/Office • 203 Downtown Salina H.D. Lee Complex III OFFICE COMPARABLE RENTALS .: fillil 11 vii ALIIHIL . lataill a , � , e . 131 N. Santa Fe $7.75-9.25/SF,triple net,various tenant sizes, 3-5 year leases is i 4 id+i3�#A%iRY F P - fit n. 1 R A„_ ki ' . I -/O: x 119 W. Iron, II $6/SF ($2,250/mo), net,4,500 SF,4.5-yr lease $5.25/SF ($1,750/mo), net, 4,000 SF, 3-yr lease SHANER APPRAISALS, INC. Market Analysis— Retail/Office • 204 Downtown Salina H.D. Lee Complex III OFFICE COMPARABLE RENTALS ,.,� .. , RI.: