• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

right of way x 2 = no use of land?

Status
Not open for further replies.

Frank Bertrand

Thread Starter
Junior Member
Joined
Aug 21, 2002
Professional Status
Certified General Appraiser
State
Pennsylvania
asked to perform an land appraisal on a parcel with state highway frontage (ultimate right of way 25' from CL of Highway.) parcel depth is 44' that tapers up to 160'. Rear of parcel abuts Conrail track that has a 66' r/o/w from track.

problem is that the combined r/o/w joins together to prohibit use of anything and perhaps leaves the land's highest and best use keeping the earth together. (as one colleague joked).
parcel is about 245' in length. zoning not a factor (commercial/industrial) current use is brush growing.
suggestions?
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
There is right-of-way and then there is no-man's-land. The portion of the lot that is in the R/O/W might still be usable for some purposes, just not for structural improvements. Like outside storage, ag, livestock, selling used cars or farm equipment, billboard, etc. On the other hand, if the R/O/W effectively denies any use of those areas, then you won't even have those options to consider. I've appraised a couple properties where the ROW was leased out under a ground lease or a monthly rental basis back to the property owner, only with some restrictions as to improvements and uses.

The parcel might also be donation-bait or assemblage-bait. It seems that there are some options to consider. I guess how you pursue this depends on who your client is and why they want the appraisal.


George Hatch
 

xmrdfghap

Senior Member
Joined
Jan 15, 2002
Professional Status
General Public
State
Florida
State laws vary, but in many jurisdictions when the remainder has no economic value, then the condemning agency is required, by law, to take the whole. This may be such a case.

If the whole is not taken, and there is no economic use for the remainder, then the property has a negative value (maint costs plus taxes to an infinite future).
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks