618 Sunset Boulevard · Brunswick, Georgia · Document Summary

Land Appraisal

Plain-English Summary · Prepared for Chip Drury · April 2, 2026

Document 2 of 4

This is a separate appraisal — distinct from the house — specifically for the wooded land parcels at 618 Sunset Boulevard. Completed by Richard Friedman in January 2022, it establishes that the roughly 2.25 acres of raw land surrounding and adjacent to the house is worth $225,000 on its own.

Appraised Value

$225K

Raw Land, Jan 2022

Land Size

~2.25

Acres (Wooded)

Total w/ House

$700K

Combined

Age of Report

4 Years

Needs Update

1 What Is This Document?

The land appraisal is a separate professional assessment that values only the dirt — not the structures on it. This is done because raw land and improved structures are valued differently. Land is valued based on its location, zoning, development potential, comparable land sales, and highest-and-best-use analysis.

Richard Friedman determined that the approximately 2.25 acres of wooded land surrounding the main house at 618 Sunset is worth $225,000 as of January 2022. That valuation is based on what similar wooded residential/commercial parcels in Brunswick sold for around that time, and what the land could realistically be used for.

Why is this valuable? Because Brunswick Country Club sits directly adjacent to this property. Land next to a golf course and country club in coastal Georgia carries a premium — buyers and developers pay more for access, prestige, and view corridor.

2 What Does It Mean For You?

You don't just own a house. You own a house plus nearly 2.5 acres of professionally valued land — and together, those two assets total $700,000 in documented value. That's your equity base. That's what you're sitting on right now, before any development, renovation, or financing.

The $700,000 Number

$475,000 (House) + $225,000 (Land) = $700,000 combined appraised value. This is the number every lender, investor, and deal partner will start with. It means you have real, documented equity — not just a promise or an estimate.

The land isn't just "extra" — it's a development site that a market study confirmed can support 26 townhomes
Land near a country club typically appreciates faster than surrounding parcels
Because the land is wooded, grading and clearing is the main prep cost — no major demolition needed
The separate land appraisal allows lenders to collateralize the parcel independently if needed

Important: This Appraisal Is 4 Years Old

Like the house appraisal, this one needs to be updated before any serious lender will accept it. A current land appraisal is especially important for Path B (development), because construction lenders underwrite against the land value as the initial collateral before the building goes up. Given how coastal Georgia land has moved since 2022, the updated value may be considerably higher.

3 How We Use It In The Proposal

The land appraisal is the anchor document for Path B and plays a supporting role in Paths A and C:

Path A (Bridge Loan): Lender sees $700K combined collateral ($475K house + $225K land). A bridge loan at 70–75% LTV against $700K yields $490K–$525K — exactly in the deal range. Both appraisals go in the loan package together.
Path B (Development): The land appraisal is the first check a construction lender runs. They need to know what the raw land is worth as the starting equity in the deal before they'll fund the first dollar of construction. $225K of documented land value is solid ground to build on — literally.
Path C (Tokenization): Investors buying fractional tokens need to see the underlying asset value. The land appraisal — combined with the house appraisal — establishes the total collateralized value of what their investment is backed by.

Bottom Line

The land appraisal turns what could look like "a house with a big yard" into a documented development site worth $225,000. That changes the conversation from a simple residential deal to a commercial real estate opportunity — which opens doors to an entirely different tier of financing and investment.