Real Estate Finance And Investments Analyst (REFAI®) Certification

What does 'highest and best use' analysis determine in real estate development?

The legally permissible, physically possible, financially feasible, and maximally productive use of a site The most recent development proposal submitted to the planning commission The use that generates the highest absolute rental income from a property The permitted use with the lowest construction cost per square foot

Correct Answer:

The legally permissible, physically possible, financially feasible, and maximally productive use of a site

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