Land Locked Land

[Mark K]

Talk to some eminent domain appraisers who have done ROW easements in your area.

From the studies in my files and from what I've observed re; landlocked sales, they can sell for anywhere from about 10% of FMV to 100% of FMV.

It all depends on the subject property, the potential use, and the number of potentially interested buyers (adjacent land owners).

Most recreational parcels have sold for 25-50%, again depending on the number of potential buyers. Some landlocked commercial parcels will sell for 100%. Some small, mostly useless tracts will sell for 10% or less when there is only one adjacent buyer and the state wants to get these tracts off of the books.

In this state, the last sale that landlocked a parcel is generally required by law to provide access unless its the state. They do it often for road projects. In that case, the owner was given the opportunity to sell the entire parcel or to be compensated for damages as mentioned above and keep the parcel. Especially with good ag land, the owner will take the 50-75% +/- damages and then sell it to a neighbor for close to full MV.

 

[Deleted member 142783]

Check with the county. Several counties in my area do not allow sale of “land locked” lots with no easements or access.

I have had the county planning department help identify access when a property appeared to be land locked