Highest and best use lack of comments is one of the big ones this state like to hit you over the head with a fine.
I mostly do big urban little row homes. So seen one, seen them all. I have a separate page with highest and best use comments, easier to find in my table of contents. Some of this was gotten from the appraiser's scope of work book and other brilliant thinking here by posters.
Site/Zoning/Use:
In order to determine the highest and best use of the real estate, I completed a survey of the market, noted supply and demand factors, and examined the feasibility of alternative uses. The appraisal problem did not warrant an intensive highest and best use study. Given the nature of the subject real estate, my conclusion of highest and best use was based on logic and observed evidence.
Zoning ordinances and deed restrictions (if applicable) were evaluated to determine legal uses. Economically feasible and physically possible uses of the subject property were considered as well. The subject property was evaluated "as if vacant" in order to determine uses that would produce some return and the one use (existing or alternate), that would produce the highest net return. Neighborhood development patterns and commercial potential were considered in all unincorporated areas. The highest and best use conclusion noted on this report was consistent with all of the above considered factors. The noted highest and best use is considered reasonably probable, legal, possible, appropriately supported, financially feasible, and results in the highest value."
Lot is typical of others nearby, similar homes on each side. Residential street views. Normal utility easements. No apparent adverse conditions present. The current restricted zoning of the subject, it's location, and locational influences make the highest and best use as single family, residential. Dwelling could be rebuilt back as is after a fire. The subject is a legally permissible use based on its current zoning. Also, the lot size, shape and land-to-building ratio allow the present structure and indicate a good utilization of the improvements. Based on current market conditions, the existing structure as a single family residence is its financially feasible and maximally productive use. The highest and best use, as if vacant, would be to construct a single family residence.
There are five residential single-family attached (RSA) district types. RSA districts are intended to accommodate attached and semi-detached houses on individual lots, but can be applied to a mix of housing types. RSA-1 requires the largest lot size and setbacks. These minimum lot and setback requirements decrease for RSA-3 and RSA-5 districts. The districts are also intended to provide a density transition between RSD districts and RM districts. The zoning code includes five RSA districts that are differentiated primarily on the basis of minimum lot sizes.
Because building codes change from time to time and tend to reflect higher standards and improved technology, an important feature of building codes is that they apply only to new construction and are not applied retroactively to existing buildings. The subject is an existing improvements and per the zoning ordinance does not have to meet the requirements of a new property. The subject was permitted and approved at the time of construction, the use has not changed, therefore the subject is considered to be conforming to the current zoning ordinance per the grandfather clause section of the current zoning ordinance.
Nonconforming Lots:
Minimum R zoning residential lot size in the city is 1,440 Sf. Lower Sf nonconforming lots are common throughout Philadelphia where the typical house predates zoning and maybe situated on a substandard size lot. This has no adverse affect on marketability or value. If the subject were destroyed, the improvement could be rebuilt to its current foot print (subject to city issuance of applicable building permits). Such subject sites were permitted and approved at the time of construction, the use has not changed, therefore the subject is considered to be conforming to the current zoning ordinance per the grandfather clause section of the current zoning ordinance.
