Property Valuation
Which type of Louisiana property would most commonly be valued using the cost approach as the primary method?
AA retail strip mall with established tenants
BA special-purpose property like a church, school, or government building where there are few comparable sales or income data✓ Correct
CA rental apartment complex with 10 years of income history
DA standard 3-bedroom residential home in an established neighborhood
Explanation
Special-purpose properties (churches, schools, fire stations) have few comparable sales and limited market income data. The cost approach is often the primary or most reliable method for these unique properties.
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