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r-- ~ Hiehest and Best Use i Highest and best use is defined as that reasonable and probable use tha[ supports the highest present value, as defined, as of the effective date of the appraisal. This use must be physically possible, legal, financially feasible and result in the highest land value. As Vacant: The General Retail zoning would legally allow almost any feasible use and its size and desirable topography will accommodate many different uses. The larger sales will show this trend. It probably has greater utility as one or two large lots than as six smaller lots. The dual access is positive for its appeal. The immediate neighborhood has traditionally been a mixed use strip with the older residen[ial uses gradually giving way to retail and service oriented businesses. Mos[ commercial uses have been concentrated on or near the 19°istreet intersection but that development is slowly spreading. Usually, when a lot of this size is developed in this strip, it has been for multi family use. The data presented in the area and neighborhood analysis showed that the type of new construction in this strip is varied wi[h multi family keeping pace wi[h the odd commercial use. Most new commercial construction involves a 2,000 SF to 4,000 SF metal building with or without brick veneer, constructed for some type of owner occupied use. The typical mul[i family project is a six ro twetve unit complex with small modestly finished units. Given the location and the characteristics of the neighborhood, and the planned construction of 18 units at 13`h and Bonham, the subdivision of the subject inlo two lots for development in[o some type of retail or service type use was most likely. There is a fair amount oF vacant land in this strip; thus, it would most likely remain vacant until such time as an owner/occupan[ purchased the sites. The subject has been purchased forultimate development into a 39 unit assisted living complex. The feasibility of that use is beyond the scope of this appraisal but when such centers have been constructed locally in [he past, they have competed with this same mixture of uses. PAT MURPHY & ASSOCIATES 9