Property Valuation
Which type of Connecticut property would MOST likely use all three appraisal approaches in the final reconciliation?
AA vacant lot
BA hotel or lodging facility✓ Correct
CA 3-bedroom ranch home
DA commercial office building with no comparables
Explanation
Hotels combine income-producing activities (income approach), have construction components (cost approach), and may have comparable sales (sales comparison). Using all three approaches provides a comprehensive and crosschecked value opinion.
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