The valuation of vacant land must first be determined by the highest and best use of the property. The highest and best use of property is most often dictated by the improvements; with vacant land there can be many possibilities. Appraising vacant land is a complex process which includes knowledge of zoning, location, size, physical attributes, and in some cases the analysis of building density.
Cornerstone Appraisal has vast knowledge and experience in determining the highest and best use of vacant land and recognizing the many complexities involved in developing a property value.