Alright just for my curiosity. We do alot of appraisals for ALDOT. They prefer a building resideual be included in the income approach, which makes some sense especially in partial takes. RThe question has arose whatt is the proper land cap rate to be applied to the land value. I recently completed a consulting assignment whereas I was asked to determine land lease rates for several branch bank facilities. My research yielded a wide range of land cap rates, but the central tendency was between 6% and 7.5% with the median rate being around 6%. I have been using 7.5% since in a small town, and little other evidence. The project manager says we need a 10% cap rate, which is higher than the overall rate we have been using for improved properties. I think I have convinced him that that is mathmatically incorrect. Anyway, with 10 year bond yeilds at less than 3% this may still be high. Any thoughts as to land cap rates. Just curious what others are using.