How should land be appraised according to standard practices?

Land should be appraised "as though vacant" to ensure that the valuation reflects its highest and best use without the influence of existing structures or developments. This standard practice allows appraisers to consider the potential uses of the land based on its zoning, location, and market conditions, rather than being affected by any current improvements or occupants on the property.

When appraising land as though vacant, the focus is on what the land could be used for if it were empty, which helps establish a baseline value. By assessing land in this manner, appraisers can provide a more objective and comparable analysis that aligns with market trends and the property's potential for redevelopment or use change.

Other methods, such as appraising as improved or as occupied, might take into account existing structures or tenants, which could skew the value upwards or downwards, leading to a less accurate assessment of the land's true worth when evaluated for future use. Appraising as developed might imply that the land already has enhancements, which would not reflect the land's value in comparison to similar vacant parcels in the market.