Assume 2 other comparable properties have adjusted sales prices of $800,000 and $810,000. Using all of the adjusted sales prices, what would you estimate the value of the subject property to be? Given the following information, determine the value of a property using the Cost Approach: 20 acres of land 325,000 sf building 50 year useful life 8 years of estimated physical depreciation and physical obsolescence Cost New = $150 psf Land value based on comps is $25,000 per acre You are an appraiser and have been assigned to determine the land value of a site, as vacant. The relevant information is as follows: Property Type Office Apartment Retail Warehouse NOI $10,000,000 $5,000,000 $4,500,000 $3,000,000 Cap Rate 8% 6% 9% 6% Construction Cost $100,000,000 $60,000,000 $40,000,000 $25,000,000 The site is zoned for Apartment and Retail use. What is the Highest and Best use of the site and what is the residual value of the land? Is it worth the effort to attempt to have the land re-zoned for office use? Assume 2 other comparable properties have adjusted sales prices of $800,000 and $810,000. Using all of the adjusted sales prices, what would you estimate the value of the subject property to be? Given the following information, determine the value of a property using the Cost Approach: 20 acres of land 325,000 sf building 50 year useful life 8 years of estimated physical depreciation and physical obsolescence Cost New = $150 psf Land value based on comps is $25,000 per acre You are an appraiser and have been assigned to determine the land value of a site, as vacant. The relevant information is as follows: Property Type Office Apartment Retail Warehouse NOI $10,000,000 $5,000,000 $4,500,000 $3,000,000 Cap Rate 8% 6% 9% 6% Construction Cost $100,000,000 $60,000,000 $40,000,000 $25,000,000 The site is zoned for Apartment and Retail use. What is the Highest and Best use of the site and what is the residual value of the land? Is it worth the effort to attempt to have the land re-zoned for office use