Cemetery appraisal

[glenn walker]

You can't develop it unless it's a Family only plot and you relocate the body's but that's rarely possible unless it's just a few body's and nobody's alive to contest it.

 

[KHS445]

Probably the largest consideration is the existence of and the balance in the perpetual care fund. About 55 years ago a local postman acquired the local City owned cemetery for $1.00 as the City had put the proceeds of any plot sales in the general fund and then maintained the cemetery out of the parks department budget. The buyer assumed all responsibility for future management and maintenance. About five years after the sale, oil was discovered in the area and it extended under the cemetery. The sale also included about a quarter mile of vacant low bluff Lake Michigan frontage, which at the time was not that desirable. Now it is worth $4,000 - $5,000 per front foot undeveloped. Both the postman and his son who was my age have passed away, but their families continue to operate the cemetery along with several other successful businesses.

The real advantage is as a non-profit cemetery the property is property tax exempt and the value of the unimproved land continues to increase.

 

[Terrel L. Shields]

An actual cemetery or just a lot or plot?

 

[glenn walker]

An actual cemetery or just a lot or plot?

He doesn't respond.

 

[Fernando]

Probably the largest consideration is the existence of and the balance in the perpetual care fund. About 55 years ago a local postman acquired the local City owned cemetery for $1.00 as the City had put the proceeds of any plot sales in the general fund and then maintained the cemetery out of the parks department budget. The buyer assumed all responsibility for future management and maintenance. About five years after the sale, oil was discovered in the area and it extended under the cemetery. The sale also included about a quarter mile of vacant low bluff Lake Michigan frontage, which at the time was not that desirable. Now it is worth $4,000 - $5,000 per front foot undeveloped. Both the postman and his son who was my age have passed away, but their families continue to operate the cemetery along with several other successful businesses.

The real advantage is as a non-profit cemetery the property is property tax exempt and the value of the unimproved land continues to increase.

There use to be some cemetaries in SF but when real estate went up, the bodies were moved elsewhere.
Land worth more when no dead bodies underground. Appraisal 101.

 

[sputnam]

Is the Highest and Best Use of the property really storing the remains of dead people?

 

[glenn walker]

The OP hasn't a clue.

 

[Red Flint]

search by zip code, appraisalinstitute.org, send a couple emails, likely end up with a referral to someone who can tackle the task.

a unique appraisal problem, just approach the same way, market analysis, H&BU, applicability of approaches, reconciliation, reflect on result in consideration of intended use and user(s), good luck.

 

[Vernon Martin]

I did a couple of cemetery appraisals in 2013, and the methodology was similar to the appraisal of a mine. Once you've sold every plot, there's little revenue left, but contractual obligations and expenses to maintain the cemetery. That's why these 2 cemeteries were in bankruptcy. Likewise, with a mine, once the ore is gone, there's not much value left, but cleanup expenses instead.

 

[Terrel L. Shields]

Is the Highest and Best Use of the property really storing the remains of dead people?

In my state the law prevails. To remove a cemetery requires a huge expense, $50,000 per grave in some cases. That's pretty expensive land. Rare exceptions. I know some developers forced to set aside a 3 grave cemetery and erect new stones after the family found the stones had been moved so the developer could build a house. Desecration can also draw a 5-year prison term.