Property Valuation
A NJ appraiser assigned to value a gas station would most likely use which primary appraisal approach?
ASales comparison approach only
BIncome capitalization approach, supported by the sales comparison approach✓ Correct
CCost approach exclusively
DGross rent multiplier only
Explanation
For income-producing commercial properties like gas stations, the income capitalization approach is typically primary because investors make decisions based on income potential. The sales comparison approach provides support but may have limited comparable sales data for specialized properties.
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