Maximizing the value of a property requires that all of its possible uses are evaluated in order to determine which alternatives will yield the highest rate of return. This will include the potential for zoning modifications, as well as the potential for other neighboring properties. NKF Devencore's professionals have the expertise to implement and carry out a wide range of highest and best use studies.
In conducting highest and best use studies, we:
- Examine the building, land areas, zoning potential, allowable density, permitted uses and adjacent properties
- Compare this information to current and projected market conditions (commercial, industrial, institutional and residential development)
- Assemble, analyze and compare various financial models to determine the highest rate of return
- Prepare a detailed reuse plan
- Review major steps of the program and develop timelines