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by Jim D. Ray
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se a site’s potential. Google’s free satellite mapping service provides detailed aerial images for most of the United States. To view your property, visit: http://maps.google.com.
Existing Physical Improvements
Contrary to popular belief, existing physical structures on a parcel may hinder a property’s value, as opposed to increasing it. If a site has exceptional location, access, and traffic, but includes a functionally obsolescent structure, the cost of razing the structure will be a primary consideration for any prospective buyer.
If your property includes an obsolete or deteriorating structure, consider razing the structure before marketing the site. Incorporating this expense into the asking price is oftentimes easier and more profitable than deducting it from the price during negotiations with the buyer.
Average Daily Traffic Count (ADTC)
The volume of daily traffic traveling on nearby roadways can be an excellent selling point for even the most difficult properties. Many counties maintain Average Daily Traffic Counts (ADTC) records for major roadways. If the property is located near or adjacent to an intersection, acquire the ADTC for both roads. Prospective buyers will appreciate these figures being readily available in the site’s marketing materials.
ADTC is a significant factor particularly for national entities, such as quick- and full-service restaurants, gas/convenience stores, hotels, and other entities that depend heavily on daily traffic patterns to draw patrons.
Site Access Options
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