I'm curious to know how the rest of you generally handle excess land in a report. I've (amazingly) never had to deal with it until right now and have developed the value of the excess land without issue, but trying to figure out how it should be incorporated into the final presentation of values. The texts that I have tend to gloss over the actual process of dealing with excess land, so they are of no help. I can't recall anything more than a cursory mention of it in classes that I've taken (of course the ones that would have covered it were years and years ago so maybe my memory is at fault). The scenario is as straight forward as it gets... commercial building on a large parcel that is literally split in half (with chain link), only the half with the building is in use. Zoning clearly permits use of the other half for development and there is demand. My assignment is market value of the whole property for foreclosure. Should the value of both the excess land and the portion in-use be combined within the Cost Approach? Should it be adjusted for within the Sales Comparison and Income Approaches (therefore establishing a market value within each approach that reflects the entire property)? Or should I pull it out, perform each approach using just the portion in-use and present two separate value conclusions (one for subject property with portion that is being used and another for the excess land as vacant)? Both parcels have been discounted of course before inclusion in anything. Probably a stupid question, but not one I've had to consider before.