easy · National Real Estate Exam valuation
Dana Adams is advising a client when this issue arises: The assignment involves a relatively new special-purpose building with few comparable sales.
What is the best next step?
- Ignore land value because the improvements are new.
- Use assessed value as a substitute for market value.
- Use only the gross rent multiplier because the building is special purpose.
- Use the cost approach: land value plus improvement cost minus depreciation.
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