Site
Land that has been prepared for use — graded, with access and utilities available. "Site" implies readiness for its intended use, as distinct from raw land.
Related Terms
Site Value
The market value of the land as if vacant and available for development to its highest and best use.
Site Improvements
Improvements to the land itself rather than buildings — grading, driveways, walkways, landscaping, fencing, septic and well systems.
Land Value
The market value of a parcel of land as if vacant and available for development to its highest and best use.
Lot
A defined parcel of land, typically described by reference to a recorded plat or tax map.
More in Land & Site Valuation
View allAllocation Method
A land valuation technique that estimates land value by applying the typical ratio of land value to total property value observed in the market.
Extraction Method
A land valuation technique that estimates land value by subtracting the depreciated cost of improvements from the total sale price of an improved property.
Land Residual Technique
A land valuation method that estimates land value by capitalizing the net income remaining after deducting the return attributable to the improvements from the property's total net operating income..
Ground Rent Capitalization
A land valuation method that estimates land value by capitalizing the ground rent (the rent paid for the use of land only, without improvements) at an appropriate capitalization rate..