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highest & best Use

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menachem lefkowitz

Freshman Member
Joined
Dec 4, 2002
Professional Status
Certified Residential Appraiser
State
New York
Hi folks, for the first time after three years appraising, I came up with this situation.

Subject is a vacant site zoned M1-2 (Lite Manufacturing), located in an urban area. Subject block comprises of a mix of residential & commercial properties.

Most vacant land sales in this area in the past 5 years are rezoned for residential use, as the housing demand makes it the most profitable use.

At this point, the subject did not applied for a zoning change. What would be the highest & best use for the subject site?

Any suggestions are greatly appreciated ! 8O
 
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