Hi, I am not an appraiser but need to use appraisals in my line of work. I am trying to understand how a child care building is valued. Recently I have come across the appraisal of a child care centre. I am not sure how the appraiser went about valuing the property but I am assuming she used an income approach. Now my question is how accurate it is to use the income approach in valuing such special buildings. By special buildings I mean that there is not a liquid market for these buildings. If a child care centre goes out of business, how likely is it to find another person/company to open a child care centre there? In effect, the value of the real estate is tied to the business being run. I am not sure if I am thinking straight. Thanks.