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      9-5-07  

 

 

 

 

 

Stiles building appraised at $1.6 million

by Alan McArthur
Landmark reporter

County assessor records show a building being offered for sale to a local school district is appraised at $800,000 less than the company's asking price.

The Board of Education for Platte County R-3 will hold a public hearing on Thursday, Sept. 6 at 7 p.m. at the district headquarters in order to discuss the possible purchase of the Stiles building, located next to the R-3 campus along Hwy. 92 in Platte City.

The public hearing will be on whether the district should purchase the building. The building is being offered to the district for $2.4 million.

R-3 officials have indicated the building has 29,000 square feet. According to information from the Platte County assessor's property search website, the Stiles property is listed as having 19,100 square feet.

The county's listed appraised value for the structure is $1.6 million.

According to the county assessor’s office, the discrepancy in the square footage total is due to the assessor only measuring the bottom level because the second floor of the building is unfinished and would not count toward the total if used for storage, as was originally planned by the owner.

The structure was originally built to be a warehouse for Stiles Enterprises, which sells insulation. The building was constructed in 2006, however it has never been occupied.

According to a Stiles employee, the location at 998 Platte Falls Road was too large of a space for the business, so the business chose to remain at its current location.

R-3 superintendent Dr. Mark Harpst has stated the plan for the building, should the district purchase it, would include a bus barn for the warehouse portion and new offices and early childhood education in the front portion of the building.

Harpst estimates an extra $1.2 million to build offices and make the space usable for the district. The $1.2 million would be in addition to the purchase price of $2.4 million.

 
 

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