HIGHEST AND BEST USE. 31 Valuation Analysis
HIGHEST AND BEST USE. 1. H&B Use is defined as: The reasonably probable use of property that results in the highest value. The four criteria that the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity. With the current waterfront zoning regulations, as well as location directly along the primary traffic line of cruise ship passengers, the current use of the property being leased to a commercial restaurant is felt to be the highest and best use. Retail use is not allowed in this area unless it is related to a maritime use that requires or benefits from a shoreline location. The adjacent property has a similar marine-related restaurant use.
HIGHEST AND BEST USE. The existing subject multifamily residential improvements represents the highest and best use of the subject property as of the date of this analysis.
HIGHEST AND BEST USE. 1. The reasonably probable use of property that results in the highest value. The four criteria that the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity. The Dictionary of Real Estate Appraisal, 6th Edition, Appraisal Institute, page 109 The highest and best use scenarios for the subject property, if it were vacant, include a wide variety of industrial or commercial enterprises since the site is zoned industrial. It has good visibility by the inbound visitors from Canada and Alaska’s interior along with northbound passengers disembarking from the ferry terminal and in some cases, private vessels or cruise ships. The site is located between the bridge and the intersection with Dyea Road. Dyea Road serves a growing population on the hillside overlooking the downtown area of Skagway as well as providing access to the historic areas of the Chilkoot Trail and more rural housing near Dyea. As vacant, commercial uses allowed within the industrial zone would meet the highest and best use. As improved, the subject meets the definition of highest and best use.
HIGHEST AND BEST USE. 46 VALUATION................................................................ 54 CORRELATION.............................................................. 112
HIGHEST AND BEST USE. Appraiser's opinion as to the highest and best use for the property, unless instructed otherwise by EPWater.
HIGHEST AND BEST USE. Describe the CONSULTANT’s opinion of the highest and best use of the Subject Parcel. For improved properties, the analysis of highest and best use should reflect the subject as though bare, vacant and available as well as improved. In appraisal practice, the concept of highest and best use represents the premise upon which value is based. In the context of market value, highest and best use is defined as: "The reasonable and probable use that will support the highest present value, as defined as of the appraisal effective date." Alternatively, highest and best use is that use, from among reasonable, probable and legal alternative uses, found to be physically feasible, and which results in the highest land value. It should be recognized that in cases where a site has existing improvements on it, the highest and best use may be determined to be different from the existing use. The appraiser's analysis of highest and best use considers the following factors: Possible and legally permissible uses are determined primarily by the underlying zoning and Comprehensive Plan designation.
HIGHEST AND BEST USE. District and Tenant agree that through the term of the Lease, the Housing and District Use Facility/STEAM Lab are the highest and best use of the Property, providing the greatest public good and the least private injury for the community. As such, the Parties agree to contest any full or partial condemnation of the leased premises so that the Housing and District Use Facility/STEAM Lab can reasonably continue.
HIGHEST AND BEST USE. Highest & best use of the subject property based on the PDD zoning to be an "as improved" with residential multi-family development, under the Planned Development District zoning use. This zoning holds specific conditions (ie:design,foliage,architectural arches...) the City of New Port Richey is able to instill with the project build. Please refer to the attached PDD zoning description attached in the addenda pages. The site appears to be of sufficient size to accommodate this multi-family use. There is public water, sewer and electrical service available to the site along with public water and sewer provided by the Pasco County Utilities and Duke Energy supplies electrical service.
HIGHEST AND BEST USE. Highest and best use is defined as the reasonably probable and legal use of vacant land or an improved property which is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum profitability.
