VALUATION OF AIR RIGHTS

Details are given of a new problem in air rights valuation (an air tunnel), the steps in the appraisal process are described, and the observation is made that although the usual method of valuing is the residual process, in special circumstances such as this, the hypothetical building process may be required. The first step was a highest and best use study, followed by the development of a design of the structures that could be built upon the two hypothetical air right levels. An income approach to value on the hypothetical alternate buildings was then processed. The market approach was handled in a conventional manner. A direct approach to the value of air rights was made by comparison with sales of other air rights. Situations when air rights have no value apart from surface rights are discussed, as well as situations where locational requirements create the need for a site of some non-commercial structure.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/1764345
• Corporate Authors:

  American Right of Way Association

  3727 West 6th Street, Suite 504
  Los Angeles, CA  United States  90020
• Authors:
  • Thorington, J W
• Publication Date: 1975-2

Media Info

• Pagination: p. 58-59
• Serial:
  • Right of Way
  • Volume: 22
  • Issue Number: 1
  • Publisher: International Right of Way Association
  • ISSN: 0035-5275

Subject/Index Terms

• TRT Terms: Appraisals; Building; Income; Laws; Right of way (Land)
• Uncontrolled Terms: Air rights
• Subject Areas: Construction; Finance; Highways; Law;

Filing Info

• Accession Number: 00083727
• Record Type: Publication
• Files: TRIS
• Created Date: Apr 8 1975 12:00AM