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Highest and Best Use Studies

For existing and obsolescent properties, and undeveloped land.

Highest and best use studies are particularly timely as real estate owners look beyond 2020 and the Covid-19 pandemic.  Many real estate owners now find themselves the owners of distressed real estate, while others find new higher earning opportunities for their real estate assets.


The reasons for these circumstances are many, including the continuing impact of new BtoB and direct to consumer technologies on traditional real estate uses, the ever-evolving expectations of consumers in their out-of-home experiences, and the transformation of the workplace with “work from home” (“WFH”) sensibilities and coworking environments now increasingly embraced by all.  Propelling all these factors is also the concern for personal safety from the coronavirus and sensitivity for protecting vulnerable populations.


Public sector organizations, local governments and municipalities, school districts, port authorities, and other public agencies, can find new sources of revenue in underutilized properties.


The owners of shopping centers, golf courses, hotels, and office buildings, may have new opportunities for the adaptive re-use of their properties including new life as mixed-use developments.



Highest and best use studies and analysis

Highest and best use analysis pertaining to land and property are one part of overall performance audits for real estate assets.


About Highest and Best Use


Highest-and-best-use is a term embraced by the real estate appraisal industry, which is generally understood to be the use of a property (vacant or already improved) that yields the highest net present value.  In some instances appraisers will solve for implicit land value instead of net present value, but the highest-and-best-use evaluation process is the same.


In arriving at net present value, alternatives are considered that are physically possible, legally permissible (including zoning matters), has market and consumer support, and, is financially feasible.   Generally speaking, what is considered in a highest and best use study is identical to a typical project feasibility study, expect that in highest-and-best-use studies consider alternatives seeking that which is highest yielding.   Project feasibility studies are typically focused on particular project concepts.

Client Assignments Involving Highest and Best Use Considerations
  • happy holidays from The Adventure Entertainment Cos.
    Adventure Entertainment Cos. has new website.

    The Adventure Entertainment Cos., an affiliate of StoneCreek Partners (“SCP”), has launched a new website at AEC Creative – in......

  • Adaptive Re-Use of Obsolescent Properties
    Adaptive Re-Use of Obsolescent Properties

    Adaptive re-use of obsolescent properties, an evaluation of potential repurposing alternatives for tribal casino and ancillary property.   Using a highest-and......

  • Real Estate Advisory Services - Senior housing consultants
    Richmond Senior Village – Project Feasibility

    Confidential  Client  |  Project feasibility evaluation in progress; involves redevelopment (regeneration) of now demolished facilities.   Project site in the greater......

  • Office and Industrial Consultants - Local government real estate consultants
    Urban Core Revitalization – Spring Street Los Angeles

    City of Los Angeles CRA  |  As real estate project consultants to the Los Angeles Community Redevelopment Agency, StoneCreek Partners......

  • Real Estate Consultants - Land Development Consultants
    Newport-Banning Ranch MPC

    Sojitz Corporation of America  |  As land development consultants, provided a review of asset opportunity alternatives as part of owner’s......

  • Outdoor recreation consultants and designers
    Solano County Fairgrounds

    Advice to project team advising public fairground operator, with regard to the development of entertainment venues, including family entertainment center......

  • Retail-Entertainment Consultants
    Mixed-Use Redevelopment Planning – Tokyo

    Tokyo Dome Corp.  |   In our capacity as global real estate consultants, in this instance in Tokyo Prefecture (Japan).  Experiential......

  • Southern California Gas Co. Site – Project Feasibility

    Pacific Lighting   |   Market and financial feasibility analysis to support repurposing of historically-significant corporate property in downtown Los Angeles.  Highest......

  • Economic Development Consultants - Opportunity Zone Consultants
    Economic Development Plan – Native American lands

    Pueblo of Laguna, New Mexico  |  Confidential strategic economic development planning and integrated master land use planning, for tribal lands.......

  • Strategic Planning Consultants
    Strategic Business Planning – Corporate Real Estate Developer

    Directed company strategic financial planning for The Irvine Company.   This extensive experience became the foundation for StoneCreek Partners’ approach to......

  • Shopping Mall Redevelopment Concepting
    Shopping Mall Redevelopment Concepting

    Shopping mall redevelopment concepting for Plantation Fashion Mall in Plantation (Broward County), Florida.   StoneCreek Partners was retained to evaluate net......

  • Real Estate Advisory Services
    Yamashiro’s Redevelopment

    D. Glover / Yamashiro Interests  |  Real estate advisory services in connection with the prospective repositioning and redevelopment of an......

  • Film Studios Development Consultants - StoneCreek
    Lorimar Studios

    Master plan for potential highest-and-best-use of Lorimar Studios in Culver City (California), prior to ownership by SONY Studios.   Analysis......

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