Land sale Auction ALEXANDER STREET PARK

SB# 1870
Lots 42 and 43 Monte Sano-Highland Farms Subdivision, Sections
37, T-6-S, R-1-W
The Recreation and Park Commission for the Parish of East Baton Rouge (BREC) will accept
sealed bids for the sale of 8.830 acres of vacant land fronting Alexander Avenue in Baton
Rouge, not needed for public recreation purposes, described as Lots 42 and 43 Monte Sano-
Highland Farms Subdivision, Sections 37, T-6-S, R-1-W in Baton Rouge, for the minimum
price of $550,000.00 approximated appraised value.
Electronic OR Paper bids will be received until 2:00 pm CT, July 9, 2026, by the BREC
Finance Department, BREC Administration Building, 6201 Florida Boulevard, Baton Rouge,
Louisiana. All electronic bids will be downloaded and publicly read aloud, along with all paper
bids received, immediately after the 2:00 pm bid closing in Room 1515 of the BREC
Administration Building. Bidders or their authorized representatives are invited to be present. No
bids will be received after 2:00 pm on the same day and date.
Acceptance of a bid is subject to entry into a binding written Purchase Agreement acceptable to
both parties within forty-five (45) days of the opening of bids.
Complete bid documents are available by email request to BREC Purchasing
Department, Dedra.Fountain@brec.org. Contact the BREC Purchasing Department at (225)
273-6421.
Electronic bids must be submitted through www.bidexpress.com prior to the bidding deadline.
Bidders utilizing the electronic bid process are responsible for confirming that all documents are
properly submitted and received by Bid Express. Questions about this procedure shall be directed
to Bid Express Customer Service at support@bidexpress.com. Toll Free: (888) 352-BIDX (2439),
Phone: (352) 381-4888, Fax: (888) 971-4191, Monday through Friday, 6am - 7pm CT.
BREC has elected to use LaPAC, the state's online electronic bid posting and notification system, in
addition to its standard means of advertising. LaPAC is resident on the Office of State Procurement's
website at LaPAC Public Menu (louisiana.gov) and is available for vendor self- enrollment.
Paper bid forms must be submitted in a sealed, opaque envelope and endorsed SB 1870 Lots 42
and 43, Monte Sano-Highland Farms Subdivision, Sections 37, T-6-S, R-1-W One (1) copy of the
bid form shall be submitted.

Sale of Land - Bid Proposal
Sealed Bid #:
Parcel Number:
Letting Date:
To the Recreation and Parks Commission for the Parish of East Baton Rouge. I (We) hereby
offer to purchase the BREC-owned land at the lump sum price offered for the parcel(s) in
the "Bid Amount". The undersigned certifies that he/she has examined the land offered for
sale and is satisfied as to the condition of same and has judged for himself/herself as to
the conditions to be encountered in sale of said land.
Bid Amount:
Signature of Authorized Bidder:
Signature Date:
Contact Information
Bidder's Name:
Company (if any):
Address:
Telephone No.:
Email Address:

An Appraisal Report on Relevant Date(s):
A TRACT OF LAND KNOWN AS February 19, 2026 (Date of Property Visit)
ALEXANDER STREET PARK
Prepared For:
Address:
6000 Alexander Avenue
Mr. Brett Wallace, PLA, PMP
Baton Rouge, Louisiana 70805
BREC
6201 Florida Boulevard
Legally Described As:
Baton Rouge, LA 70806
Lots 42 and 43, Monte Sano-Highland
Farms Subdivision, Sections 37, T-6-S, R-
FILE #26-23732
1-W, Baton Rouge, East Baton Rouge
Parish, Louisiana

February 27, 2026
Mr. Brett Wallace, PLA, PMP
BREC
6201 Florida Boulevard
Baton Rouge, LA 70806
Re: A tract of land known as Alexander Street
Park, in Baton Rouge, Louisiana
Dear Mr. Wallace:
In accordance with your request and for the purpose of estimating the market value of a fee simple
interest in the property above referenced and more particularly described within the report, we present the
following appraisal for your approval.
This is an Appraisal Report as defined by Uniform Standards of Professional Appraisal Practice
under Standards Rule 2-2(a). This format provides a summary or description of the appraisal process,
subject and market data and valuation analyses.
Based upon our visit to the subject property and investigations and analyses undertaken, we have
formed the opinion that, subject to the assumptions and limiting conditions set forth in this report, the
market value of the fee simple interest in the subject property "as is, as of February 19, 2026 (date of the
property visit)," is:
FIVE HUNDRED FIFTY THOUSAND DOLLARS
$550,000
The above value is net of $15,000 in capital outlays for rezoning costs.

Cook, Moore, Davenport & Associates
Real Estate Appraisers
Page 3
The above value(s) are subject to the following extraordinary assumptions:
The subject property is currently zoned A-2 (Single-Family Residential). It is an
extraordinary assumption of this report that the subject would be able to be rezoned to
allow for multifamily development without significant capital outlays or delays in
development.
The use of extraordinary assumptions affected the assignment results.
This letter must remain attached to the report, which contains 77 pages (from the appraisal
cover to the addendum) plus related exhibits, in order for the value opinion set forth to be considered
valid.
No hypothetical conditions were used in the preparation of this report. This appraisal report was
completed in accordance with the requirements of BREC, the Uniform Standards of Professional Appraisal
Practice (USPAP), and the requirements set by the Office of the Comptroller of currency appraisal standards
as delineated by ruling 12 USC. 93a of title XI of the FIRREA, dated 1989. If we can be of further assistance
in this matter, please do not hesitate to call.
Respectfully submitted,
Tom W. Cook, MAI Robert E. Beaman
Louisiana Certified General Louisiana Certified General
License #APR.00005-CGA License #APR.04446-CGA
tcook@cookmoore.com bbeaman@cookmoore.com

TABLE OF CONTENTS
SUMMARY OF SALIENT FACTS ............................................................................................................. 1
IDENTIFICATION OF THE SUBJECT PROPERTY ................................................................................. 3
THE APPRAISAL PROBLEM .................................................................................................................... 4
SCOPE OF WORK ....................................................................................................................................... 7
PROPERTY TAX INFORMATION ............................................................................................................ 9
HISTORY OF THE SUBJECT PROPERTY ............................................................................................. 11
LOCATION MAP ...................................................................................................................................... 12
NEIGHBORHOOD ANALYSIS ................................................................................................................ 13
GENERAL ........................................................................................................................................ 13
SUBJECT NEIGHBORHOOD ......................................................................................................... 16
APARTMENT MARKET ANALYSIS ...................................................................................................... 19
ZONING MAP ............................................................................................................................................ 47
FLOOD PLAIN MAP ................................................................................................................................. 48
AERIAL PHOTOGRAPH .......................................................................................................................... 49
SITE ANALYSIS ....................................................................................................................................... 50
LAND VALUE ESTIMATE ...................................................................................................................... 54
MAP OF LAND SALE COMPARABLES ...................................................................................... 68
LAND SALE SUMMARY ............................................................................................................... 68
TRANSACTIONAL ADJUSTMENTS ............................................................................................ 69
PHYSICAL ADJUSTMENTS .......................................................................................................... 70
SALES COMPARISON ADJUSTMENT GRID ............................................................................. 72
EXPOSURE TIME ..................................................................................................................................... 74
CERTIFICATION OF APPRAISERS ........................................................................................................ 75
A D D E N D U M ...................................................................................................................................... 77

SUMMARY OF SALIENT FACTS
Dates Effective Date of Value - February 19, 2026
Date of the Property Visit - February 19, 2026
Report Date - February 27, 2026
Highest & Best Use Multifamily
Location The subject is along the east side of Alexander Avenue and the
north and south sides of Village Court.
Municipal Address 6000 Alexander Avenue, Baton Rouge, Louisiana 70805
Legal Description Lots 42 and 43, Monte Sano-Highland Farms Subdivision,
Sections 37, T-6-S, R-1-W, Baton Rouge, East Baton Rouge
Parish, Louisiana
Land Area 8.830 acres (384,635 square feet)
Zoning Classification A-2 (Single-Family Residential)
Sale History According to public records, the subject has not sold within the
last three years.
Current Listing/Contract(s) The subject is not known to be currently listed for sale, or under
contract.
Interest(s) Appraised Fee Simple "As Is"
Fee Simple Value Indicators "As Is":
Sales Comparison Approach
Land Value Ranges & Reconciled Value
Unadjusted Adjusted Adj. Total
Low $1.04 $0.94 $360,633
High $6.32 $2.53 $972,220
Average $2.79 $1.63 $628,055
Median $2.02 $1.51 $581,704
Reconciled Value per Square Foot $1.50
Subject Size (Usable Land SF) 384,635
Indicated Value $576,952
Reconciled Final Value $575,000
Less Curative Costs $15,000
Indicated Value $560,000
Reconciled Value $550,000
1

Summary of Salient Facts
The preceding value(s) are subject to the following extraordinary assumptions:
The subject property is currently zoned A-2 (Single-Family Residential). It is an
extraordinary assumption of this report that the subject would be able to be rezoned
to allow for multifamily development without significant capital outlays or delays
in development.
The use of extraordinary assumptions affected the assignment results.
2

IDENTIFICATION OF THE SUBJECT PROPERTY
The subject is a 384,635 square foot (8.830 acre) parcel of land in Baton Rouge, Louisiana. The
site is predominantly rectangular, with 420' of frontage along the east side of Alexander Avenue and along
the north and south sides of Village Court. The property bears the municipal address 6000 Alexander
Avenue, Baton Rouge, Louisiana 70805.
The subject can be legally described as Lots 42 and 43, Monte Sano-Highland Farms Subdivision,
Sections 37, T-6-S, R-1-W, Baton Rouge, East Baton Rouge Parish, Louisiana. Source: East Baton Rouge
Parish Clerk of Court
3

THE APPRAISAL PROBLEM
The Scope of Work Rule requires the appraiser to gather and analyze information about those
assignment elements that are necessary to properly identify the appraisal problem to be solved. According
to Standards Rule 1-2, identification of the problem to be solved requires the appraiser to identify the
following assignment elements1:
Client and any other intended users: The client for this appraisal assignment is
BREC. The intended user(s) of the report is BREC, and/or their assigns. No other
users are intended.
Intended use of the appraiser's opinions and conclusions: The intended use(s) of
this appraisal is to assist the intended user(s) in collateral assessment for mortgage
lending purposes. No other use is intended.
Type and definition of value: The following value estimate(s) are presented:
The market value of a fee simple interest in the subject property "as is," as of
February 19, 2026 (date of the property visit).
In the process of estimating the above value estimate, we derived the following
value estimate:
The hypothetical market value of a fee simple interest in the subject property "as
if rezoned," as of February 19, 2026 (date of the property visit).
Market Value2 is defined as:
The most probable price which a property should bring in a competitive and open
market under all conditions requisite to a fair sale, the buyer and seller each acting
prudently and knowledgeably, and assuming the price is not affected by undue
stimulus. Implicit in this definition is the consummation of a sale, as of a specified
date, and the passing of title from seller to buyer under conditions whereby:
A) Buyer and seller are typically motivated;
B) Both parties are well informed or well advised, and each acting in what he
considers his own best interest;
1 Uniform Standards of Professional Appraisal Practice, 2024 Edition (The Appraisal Foundation, 2024), pg. 15
2
United States Treasury Department, Comptroller of the Currency 12 CFR part 34, degrees34.42(f)
4