Ice Machine Phenomena

[Terrel L. Shields]

Seems like a an ATM kiosk would be kind of similar

We have one that used to be an ATM kiosk. When the bank built a new branch about 300 yards away, they closed the ATM and sold the tract to investors. They owned apartments nearby and used the site to access their apartments with a through street, then the surplus was used to install one of these.

 

[Blopre1]

How would you appraise a tract of land with one of these ice houses on it? Would you give it consideration in the value or is it considered a movable?

 

[Meandering]

Not really different than a hot dog stand, except, these ice machines need to be connected to a water source.

So it depends on the purpose of the appraisal.

.

 

[Michael S]

How would you appraise a tract of land with one of these ice houses on it? Would you give it consideration in the value or is it considered a movable?

Depends on how it's setup and what the purpose of the appraisal is.

If it's leased similar to an ATM Kiosk it would just be another tenant generating income (assuming it's part of a larger development with multiple tenants).

If it were free-standing on a seperate site it would require a highest and best use analysis to determine if the value of a vacant site exceeds the value of the improved site with the income stream from that building/equipment. If it's a very small site, just a few thousand square feet, that could be the highest and best use.

 

[RBAF35]

I have seen a few of them around, and I'm starting to see more. I've seen them in Georgia, and in Florida, where I'm based. With all due respect, the one that I did utilize, once, was much more significant than a hot dog stand.

The one that I utilized appeared to be fixed to a foundation. I would want to take a closer look before I opined conclusively, but from what I remembered I would consider it to be real estate. Yes, it could be moved, but remember I've seen a lot of houses moved as well, and no one is going to say they're not real estate when one is on a site.

A good rule of thumb is how the item, or structure is attached to the real estate; and a second major consideration is whether, or not, the intent was for it to be permanent. Permanent being defined as the anticipated useful life. There may be some much smaller ones than what I have seen, but the ones I have seen are much more significant, and much more significantly attached to the real estate, than a hot dog stand.

But then again, when I read "hot dog stand" I'm thinking of the ones we have around here, which are pulled behind a car or truck. You may have something different in mind.

 

[John Glass]

The nice ones are over $100,000 and have ROI's over 20% if placed correctly. they are all over south Louisiana where people fish, camp, hunt, festival, etc.

 

[gregb]

Franchise opportunities:

[url]http://www.icehouseamerica.com/[/URL]

 

[Meandering]

I have seen a few of them around, and I'm starting to see more. I've seen them in Georgia, and in Florida, where I'm based. With all due respect, the one that I did utilize, once, was much more significant than a hot dog stand.

The one that I utilized appeared to be fixed to a foundation. I would want to take a closer look before I opined conclusively, but from what I remembered I would consider it to be real estate. Yes, it could be moved, but remember I've seen a lot of houses moved as well, and no one is going to say they're not real estate when one is on a site.

A good rule of thumb is how the item, or structure is attached to the real estate; and a second major consideration is whether, or not, the intent was for it to be permanent. Permanent being defined as the anticipated useful life. There may be some much smaller ones than what I have seen, but the ones I have seen are much more significant, and much more significantly attached to the real estate, than a hot dog stand.

But then again, when I read "hot dog stand" I'm thinking of the ones we have around here, which are pulled behind a car or truck. You may have something different in mind.

I grew up in Jersey, where hot dogs are 2 of the 5 major food groups and suitable for any meal or snack any day of the week, and fried for breakfast.

Our hotdog stands are nothing to sneeze at.

.

 

[John Glass]

I grew up in Jersey, where hot dogs are 2 of the 5 major food groups and suitable for any meal or snack any day of the week, and fried for breakfast.

Our hotdog stands are nothing to sneeze at.

.

The hot dog stands, err restaurants in Connecticut are downright historic.


http://ctoriginals.com/

 

[Terrel L. Shields]

I think I would treat the land as "commercial" and the Kiosk as a fixture, provided the landowner was the owner of the kiosk. If the commercial site is rented, then the fixture becomes a "trade fixture"....