Jim Hild
Freshman Member
- Joined
- Nov 26, 2003
- Professional Status
- Certified General Appraiser
- State
- Minnesota
I am doing a residential appraisal on an improved property that has 3+ acres. This is in an area where 15,000 SF sites are the norm. The city zoning department indicates that one lot could be split off from the site. (It has not been split nor does the owner have plans to split off a lot).
The value of the site as currently improved is higher than the value of the site as if vacant and available for other uses. Therefore, the highest and best used as improved is the present use, right?
Then how do I handle the potential extra lot ? Do I consider the extra land as excess land even though it has a potential extra value if separated.
Thanks
Jim
The value of the site as currently improved is higher than the value of the site as if vacant and available for other uses. Therefore, the highest and best used as improved is the present use, right?
Then how do I handle the potential extra lot ? Do I consider the extra land as excess land even though it has a potential extra value if separated.
Thanks
Jim