You bought two acres of land for $200,000 ten years ago. Although it is zoned for commercial
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You bought two acres of land for $200,000 ten years ago. Although it is zoned for commercial use, it currently holds eight small, singlefamily houses. A property management firm that wants to continue leasing the eight houses has offered you $400,000 for the property. A developer wants to build a 12-story apartment building on the site and has offered $600,000. What value should you assign to the property?
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To determine the value of the property you need to consider both the current income it generates and ...View the full answer
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