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CBREValuation &Advisory Services <br />5921 Owensmouth Avenue <br />Woodland Hills. CA 91367 <br />www.cbre.com/valuation <br />Date of Report: November 11, 2025 <br />Marc Marley <br />Economic Development Manager <br />CITY OF SANTA ANA, COMMUNITY DEVELOPMENT AGENCY <br />20 Civic Center Plaza, M-25 <br />Santa Ana, California 92702 <br />RE: Appraisal of: City of Santa Ana- Walnut Street Property <br />1901 West Walnut Street <br />Santa Ana, Orange County, California <br />CBRE File No.: CB25US102817-1 <br />Dear Mr. Marley: <br />At your request and authorization, CBRE, Inc. has prepared an appraisal of the market value of the <br />referenced property. Our analysis is presented in the following Appraisal Report. <br />The subject property is a parcel of land located at the northwest corner of West Walnut Street and South <br />Daisy Avenue in the City of Sana Ana. The subject property is improved with a community garden and <br />coffee shop; however, this valuation is limited to the underlying land only. The subject contains a site area <br />of 16,632 square feet, or 0.38 acres and is zoned C2, General Commercial, which allows a variety of retail <br />and service uses. <br />Based on the analysis contained in the following report, the market value of the subject is concluded as <br />follows: <br />MARKET VALUE CONCLUSION <br />Appraisal Premise Interest Appraised Date of Value Value Conclusion <br />Land Only Fee Simple Estate October 24, 2025 $1,030,000 <br />Compiled by CBRE <br />The report, in its entirety, including all assumptions and limiting conditions, is an integral part of, and <br />inseparable from, this letter. <br />The following appraisal sets forth the most pertinent data gathered, the techniques employed, and the <br />reasoning leading to the opinion of value. The analyses, opinions and conclusions were developed based <br />on, and this report has been prepared in conformance with, the guidelines and recommendations set forth <br />in the Uniform Standards of Professional Appraisal Practice (USPAP), and the requirements of the Code <br />of Professional Ethics and Standards of Professional Practice of the Appraisal Institute. <br />CBRE VALUATION & ADVISORY SER/ICES 1 © 2025 CBRE, INC <br />