Highest And Best Use Analysis Essay

1686 Words7 Pages
The subject property last sold on 06/17/1975 for $20,000 from the Wolverine Stock Yards Company to Charles McCann by land contract. There was an option to purchase between Charles McCann and McDonalds Corporation recorded with the Clinton County Register of Deeds as Item #655 and Page #253 in 1995 and dated 10/20/1994. However, there was never a recorded deed executing this purchase agreement. There were no sales of the subject property within the three years preceding the effective date of this valuation disclosure. The contiguous piece of property containing the drive thru lanes and overflow parking serving the subject property last sold on 08/12/2015 for $80,000 from US27MC, Inc. to McDonalds Corporation. This sale price is not considered to be a valid indication of the market value for this contiguous piece of property due to the property not being exposed to the open market and sale to a contiguous land owner. There were no sales of the subject property within the three years preceding the effective date of this valuation disclosure.

Highest and Best Use Analysis
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A property’s highest and best use is defined as “A principle of appraisal and assessment requiring that each property be appraised as though it were being put to its most profitable use (highest possible present net worth), given probable legal, physical, and financial constraints. The principle entails first identifying the most appropriate market, and, second, the most profitable use within that market. The concept is most commonly discussed in connection with underutilized
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