RockSpringCluB-Hendricks Appraisal.pdf

REGIONAL & AREA DATA Neighborhood Data The subject of this appraisal involves the Rack Spring Club, a private eighteen (18) hole golf and country club facility, established in 1925. The property is located in the south-central portion of the community. It is primarily accessed via Rock Spring Road as it extends south from its intersection with Northfield Avenue. There is also a secondary access drive along Walker Road. The subject's general neighborhood boundaries include Mount Pleasant Avenue to the north, Gregory Avenue to the east, South Mountain Reservation to the west and the Township of South Orange Village along the south. The residential improvements within the neighborhood typically include one and two story detached dwellings having been erected between 1940 and 2018. Based on a review of municipal records involving recent sales within the neighborhood as well as Garden State Multiple Listing Service information, the neighborhood, including portions of the adjoining South Orange Village has an average value range of $500,000.00 to $1,000,000.00. In addition to the single family detached dwellings, a large townhouse development adjoins the northwestern portion of the Rock Spring Club. This development was constructed during the 1980's and features value levels of approximately $450,000.00. Other area improvements and features include the large Essex County South Mountain Reservation and Recreation Complex. There are also several small office properties, retail commercial and restaurants located within one quarter (7%) mile of the subject. The subject property is located in close proximity to Interstate Highway Route 280, both east and west which provides direct access to other major highways including the Garden State Parkway, New Jersey Turnpike and Interstate Highway Routes 80 and 287. An area map denoting the approximate location of the subject property is included on the following page. Please refer to the Addenda for additional, albeit limited, demographic information. f ] REBRAIGALS @ 43: a & REBEARCH