Replies to post #50302 on ProGreen US Inc. (fka PGUS)

[tigerpac]

It's very important to compare the comp you are using with the CieloMar property.

Your referenced comp is in Puerto Nuevo, a bustling city that already has infrastructure in place along with plenty of hotels, restaurants, and farms. A hour from downtown San Diego, it's the lobster capital of Mexico.


The piece of property looks like it was developed before but then whatever was there was razed to the ground. I'll bet there are sewer lines in that ground already.


CieloMar on the other hand is hours away from civilization. If you went south, the next town on the coast with more than 10 buildings is Guerrero Negro which is 200 miles away. If you went north, the San Quitin area it's 40 miles.

CieloMar might have 4.5 miles of coastline and over 5000 acres but it's in a desolate area. And that's why Puerto Nuevo comp really means nothing to the Cielo Mar value. That's why Jan could buy it for $500K.

CBRE had very little in the way of published comp to chose from.

Page 71 is a comp of 5.93 acres for $7,300,000.

that's it. wrong again dude.