Question

An empty lot is located in a neighborhood of single-family homes. It is the only empty lot in this well-maintained neighborhood. A busy street with many stores is located three blocks away. An industrial area is about six blocks away. What is the probable highest and best use of this lot?

A. A store.
B. A factory.
C. A parking lot.
D. A single-family home.

Answer 1

Answer: D - A single-family home

Step-by-step explanation:

Highest and best use can be described as the use of a vacant site that creates the highest value after construction costs and alternative uses of the vacant lot has been sybtracted. The area where the empty lot is located is residential, therefore it would be inappropriate to situate a factory there. Also a store is located nearby,so it would be unnecessary to build a store on the empty land. Same goes with a parking lot, a parking lot shouldn't be situated in a residential area; it would not be needed in a residential area.