Glossary
Highest and Best Use
The legally permitted, physically possible, and financially optimal use that gives a property its greatest value.
Highest and best use is the use of a site that is legally permissible, physically possible, financially feasible, and maximally productive — the use that gives the land its greatest value. Determining it is the starting point of good development and feasibility work: matching a site to the right asset, tenant, and return rather than defaulting to the obvious use.