Land Appraisal Services

Understanding what your land is worth can be a difficult task. From marshland and wetlands to vacant commercial land and agricultural land, there are dozens of factors that may impact whether your property is of little value or usable and worth significant sums. The McCoy Valuation team brings a wealth of experience to helping you determine the value of land by considering a variety of factors including location, zoning, topography, and access to utilities and infrastructure.

McCoy Valuation

Land Valuation for Proposed Commercial Development

Developers wanting to convert vacant land into commercial or residential uses may require an appraisal when acquiring a site, assessing project viability, or seeking financing. Among the most important considerations in valuing land for proposed development is understanding zoning requirements, proximity to utilities/infrastructure, and environmental issues.

McCoy Valuation

Multifamily Land Appraisal

One of the most common types of land valuation services McCoy Valuation provides is multifamily land appraisals. Apartment developers often identify parcels of land that are ripe for development and must inform lenders and investors how much the land is worth per apartment. This could include “as-is” land that requires site work and has not yet been improved or modified. In other cases, it may include “by-right” land that has been prepared for multifamily development with proper zoning, infrastructure, and approvals. 

Land valuation can vary widely depending on how much work has been completed on the undeveloped sites. For properties located far from existing utility infrastructure, additional and sometimes expensive site work may be needed to ensure multifamily buildings can receive adequate plumbing, electricity, and water. Additionally, whether or not a property will require rezoning may impact valuation as well as status of any necessary approvals.

McCoy Valuation

Farmland and Timberland Valuation

Various timberland tracts throughout Southern Virginia and Eastern North Carolina are valued based on their potential use, agricultural production, topography, and vegetation. Recreational land, for example, may be used for activities such as hunting, fishing, and camping. Property owners may find it desirable to have specific trees or streams that are conducive to certain wildlife. For timberland, the age and type of tree planted on a property will impact its value as trees are harvested every so often. Having a trail system and vehicle access may also be a consideration.

McCoy Valuation

Conservation Easements

In Virginia and North Carolina, protecting natural resources is considered a public priority. According to the Wetlands Watch Organization, a conservation easement is “a voluntary, but legally-binding, agreement between a property owner and a landholding entity, in which development rights of a property are limited in perpetuity to preserve its ecological values.” These types of easements entail government entities acquiring development rights of qualifying parcels of land. This allows landowners to both protect their property and generate allowances while holding the property. As appraisers, the McCoy Valuation team will often look at the value of land with and without easements on behalf of property owners.

McCoy Valuation

Major Land Appraisal Assignments

McCoy Valuation

Contact Our Team

Share more about your appraisal needs and our team will reach out to you shortly about your assignment and how we can help.