FAIR MARKET VALUE OF LOT 2. S/D 1, DRANESVILLE DISTRICT, FAIRFAX COUNTY, VIRGINIA

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP86-01019R000200080012-3
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 17
• Document Creation Date: December 9, 2016
• Document Release Date: January 11, 2001
• Sequence Number: 12
• Publication Date: April 8, 1966
• Content Type: MEMO

OPTIONAL FORM NO. 10 - 5010-107
MAY 1982 EOITIpN
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UNITED STATES GOVERNMENT
Memorandum
Chief, Acquisition Branch - 3PRAA
DATE: April 8
1966
GSA Declassification & Release Instructions on File - No Referral to GSA
FROM : Regional Appraiser. - 3PRV
SUBJECT: Fair Market Value of Lot 2. S/D 1,
Dranesville District, Fairfax County, Virginia
DAQA/QC: 01/11/01.
SY
The subject property is located at the Northwest Corner of the intersection
of Route 123 and Savile Lane in suburban Fairfax County, Virginia. It is
identified as Lot 2. Subdivision 1, on Tax Maps 22-3, 22-4, 31-1, and
31-2 Dranesville District, Fairfax County, Virginia.
The subject lot contains a total of 11.2049 acres and is owned as
tenants in common by the following persons:
Mildred
D.
Cummins
Leonard
R.
Dranes
Virginia
D.
Mueller
Hilda D.
Needham..
The site is legally deeribed in Deed Book 1258, Page 499, as follows:
"All that certain parcel of land situated in the Dranesville Magisterial
District, Fairfax County, Virginia, more particularly known as parts
of lots 4 and 5 in the division of real estate of Richard Cruickshank,
deceased, as the said subdivision appears of record in Liber 0, No. 5,
page 394 of the land records of said county, containing 17 acres of land,
more or less.
Less and except, from the above described land, lots 1 through 6 in-
clusive as shown on a plat recorded with deed from the part of the
first part to R. F. Fox, dated November 11, 1922 recorded in Liber
A, No. 9, page 361, said parcel containing 4.642 acres."
The above described parcel contained 12.548 acres of which 1.2531
acres was later taken as additional right of way for widening of Route
123. The remaining land contains 11.201-9 acres (previously noted)
in the Fairfax County tax records.
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The improvement on the land constitutes a two-story frame brick
veneered dwelling estimated to be approximately 50 years old and
having minor contributory value. The frame residence is occupied
by a tenant named Marshall.
The subject parcel is heavily wooded and constitutes rolling terrain
with a shallow ravine running through a portion of the site in a
North-South direction. The entire site is presently zoned RE-l,
one acre residential. There is direct access to the subject site
from Route.123, according to Mr. Shockey of the Virginia Department
of Highways.
A ten-inch gravity sewer line parallels Savile Lane and travels
along Route 123 between Savile Lane and Basil Lane to the East.
The subject site can readily utilize this ten-inch sewer trunk line,
as the gravity portion of the line permitting tap in privileges extends
approximately 1,000 feet North along Savile Lane from Route 123.
The only other sewer lines in the area are a 21-inch trunk line
running South from Route 123 along Little Pimmit Run and a 33-inch
trunk line running East and West along the main course of Pimmit
Run.
Three vacant land sales were obtained in the vicinity of the subject
site. Two of these were located directly across Route 123 from
the Cummins parcel. The adjusted unit sales prices ranged between
$>11,536 and $13,885 per acre. The best sale is comparable No. 2
which indicated a unit price for the subject parcel of $1200 per
acre. The property was similar in location, zoning, and date of
sale to the subject parcel.
Thus, the appraised FMV of the subject site, as of April 8. 1966,
is $13,000 per acre x 11.2049 acres, or $145,658, rounded to
$145,000-
E ugene McElwee
Regional Appraiser. PBS - 3PRV
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 PREPARED BY
APPRAISAL STAFF
GENERAL' '.S.ERVICES ADMINISTRATION
 Approved For Release 2001/09/03 : CIA-RDP86-01019R000200080012-3
An Appraisal Of
Lot 2, S/D 1
Dranesville District
Fairfax County, Virginia
March 7, 1966
by
Eugene P. McElwee, Regional Appraiser, GSA, PBS, Region 3
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Page
Photograph of Subject Property 1
Land Sales Comparables
Land Sales Comparison Chart
Land Development Cost Method
Location Map
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SV UU LGI J DDtr'V
LA\ii
..
.~rr Frontage -Route 23
E{ig,,, y
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SUBJECT PROPERTY
The Site at the Entrance of Savile Lane
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UNITED STATES GOVERNMENT GENERAL SERVICES ADMINISTRATION
Memorandum
Chief, Acquisition Branch - 3PRAA
Region 3
Washington, D.C. 20407
FROM : Regional Appraiser - 3PRV
March 8, 1966
Fair Market Value of Lot 2, S/D 1,
Dranesville District, Fairfax County, Virginia
The subject property is located at the Northwest Corner of the inter-
section of Route 123 and Savile Lane in suburban Fairfax County,
Virginia. It. is identified as Lot 2, Subdivision 1, on Tax Maps 22-3,
22-4, 31-1 and 31-2 Dranesville District, Fairfax County, Va.
The subject lot contains a total of 11. 2049 acres and is owned as
tenants in common by the following persons:
Mildred D. Cummins
Leonard R. Dranes
Virginia D. Mueller
Hilda D. Needham
The site is legally described in Deed Book 1258, Page 499, as follows:
"All that certain parcel of land situated in the Dranesville Magisterial
District, Fairfax County, Virginia, more particularly known as parts
of lots 4 and 5 in the division of real estate of Richard Cruickshank,
deceased, as the said subdivision appears of record in Liber 0, No. 5,
page 394 of the land records of said county, containing 17 acres of land,
more or less.
Less and except, from the above described land, lots 1 through 6 in-
clusive as shown on a plat recorded with deed from the part of the
first part to R.F. Fox, dated November 11, 1922 recorded in Liber
A, No. 9, page 361, said parcel containing 4. 642 acres. 11
The above described parcel contained 12. 548 acres of which 1.2531
acres was later taken as additional right of way for widening of Route
123. The remaining land contains 11.2049 acres (previously noted)
in the Fairfax County tax records.
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Buy U.S. Savings Bonds Regularly on the Payroll Savings Plan
 Approved For Release 2001/09/03 : CIA-RDP86-01019R000200080012-3
The improvement on the land constitutes a two-story frame brick
veneered dwelling estimated to be approximately 50 years old and
having minor contributory value. The frame residence is occupied
by a tenant named Marshall.
The subject parcel is heavily wooded and constitutes rolling terrain
with a shallow ravine running through a portion of the site in a
North-South direction. The entire site is presently zoned RE-1,
one acre residential. There is direct access to the subject site
from Route 123, according to Mr. Shockey of the Virginia Department
of Highways.
A ten-inch gravity sewer line parallels Savile Lane and travels
along Route 123 between Savile Lane and Basil Larne to the East.
The subject site can readily utilize this ten-inch sewer trunk line,
as the gravity portion of the line permitting tap in privileges extends
approximately 1, 000 feet North along Savile Lane from Route 123.
The only other sewer lines in the area are a 21-inch trunk line
running South from Route 123 along Little Pimmit Run and a 33-inch
trunk line running East and West along the main course of Pimmit
Run.
Three vacant land sales were obtained in the vicinity of the subject
site. Two of these were located directly across Route 123 from
the Cummins parcel. The adjusted unit sales prices ranged between
$11, 536 and $13, 885 per acre. The best sale is comparable No. 2
which indicated a unit price for the subject parcel of $13, 000 per
acre. The property was similar :in location, zoning, and date of
sale to the subject parcel.
Thus, the appraised FMV of the subject site, as of March 7, 1966,
is $13, 000 per acre x 11.2049 acres, or $145, 658, rounded to
$145,000.
Eugene P. McElwee
Regional Appraiser - 3PRV
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Addenda Section
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Land Sales Comparables:
The following land sales comparables are available for comparison
with the subject site:
(1) S/W Corner of Route 123 at Potomac School Road (Route 688).
Parcel 12-A and 12-B sold in 1964 for a combined sales price of
$443, 608 by Virginia Palmer to Gene H. and Barbara May. The
lots were zoned RE-1 and were not served by sewer and water
utilities at the time of their sale. Combined acreage amounts to
53. 833 acres of relatively level land which is largely vacant on
which small scrub trees were observed. The average unit price
per acre amounted to $8, 240. Parcel 12-B was subsequently
rezoned to R-17, 17, 000 sf residential lots.
(2) S/E Corner of Potomac School Road (Route 688) and Route 123.
Parcel 13-B sold in 1964 for a confirmed sales price of $108, 342
for 11. 873 acres of vacant land approximately rectangular in shape
and below street grade of both Routes 688 and 123. The site is
relatively cleared of trees. The site was purchased from Virginia
Palmer by Gene H. May. The site was zoned RE.-1 at the time of
its sale. The average unit price per acre amounted to $9, 125. The
site is located directly across Routel23 from the Subject Parcel and
has since been rezoned from RE-1 to R-17. This parcel is not
served by sewer and water utilities.
(3) Crest Lane paralleling George Washington Parkway.
Parcels 13, 17, 19, and 20 have been assembled by Charles H. Schools
and others as follows:
No.
Date
Price
Area
Zoning
Utilities
Parcel 13
1963
$29, 753
1.583 acres
RE-1
No sewer or water
Parcel 19
1963
$56,246
4. 176 acres
RE-1
No sewer or water
Parcel 17
1965
$18,500
. 887 acres
RE-1
No sewer or water
Parcel 20
1964
$31, 000
4. 5759 acres
RE-1
No sewer or water
Totals
$135, 500
11. 2219 acres
Average price per acre = $12;, 075 per acre
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Land Sales Comparables (Continued).-
These parcels are hilly and heavily wooded. They are considered
to be choice home sites overlooking the George Washington Parkway
on one side and the Potomac River on the other side of the hillcrest.
Moreover, these sites are very near the Merrywood Estate.
5
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LAND SALES COMPARISON CHART -McLEAN, VIRGINIA
1 S/W Corner $443,608 53.83 $ 8240 Sim
Rt. 123 & Potomac
School Road
No. Address Price Area Unit Loc. Date
2 S/E Corner $108,34Z 11.873 $ 9125 Sim
Rt. 123 & Rt. 688
3 Crest Lane
Fairfax County
Virginia
Total Indicated Rate
Zoning Util. To ogra h v Per Sq.Ft. Size & p g p y
6
1964 RE-1 None much larger 140 $11,536
+105 Sim +115 Size
+115
1964 RE-1 None Poor Topo- 140 $12,775
+105 Sim +115 Req. Fill
+115
$135,500 11.22 $12075 Btr 1963-64 RE-1 None Equal Size
Loc +110 Sim +115 Hilly-Sim
90
Subi Rt.123 at -0- 11.2 -0- Rt.123 Current RE-1
& Savile
Lane
115 $13,885
Sewer- Wooded-
Water Hilly - Sim
_,_s -,..:-A4 ~-~+c- a ?nit acreage price for
Best sale is Corn arable Ivo. 2 wf ich indic `ates - - -
the sub'ect arcel of $13, 000 er acre. Thus, $13, 000 Der acre x 11.2049
Acres = $145, 658, Rounded to $145, 000 FMV as of March 7, 1966.
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Land Development Cost Method:
One-half acre lots would sell on today's market for $10, 500 each,
or $21, 000 per acre. (AREAC Appraised one-half acre lots at
$9500 each on the Singer Tract of 12 acres along Savile Lane in
March of 1963. This valuation was three years ago, and the
subject site fronts along Route 123).
Thus, $21, 000 x 11 acres = $231, 000
Development Cost at 40%
$8, 400. 00 x 11 acres = 92, 400
Raw Land Cost = $138, 600
Divided by 11 acres = $12, 600 per acre
This checks closely with the $13, 000 per acre average unit
price obtained (estimated) by the Market Comparison Method.
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Location Map
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8g125 r~/R
SU~JECT PF
49M'
Myy RR RA-
RENSF.O TO
i-i-59
. 63
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Land Sales Bordered in Red
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'M) COIAPARABLES
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