Property Valuation
Which appraisal approach is most appropriate for a historic LDS chapel being converted to a commercial space in Salt Lake City?
ASales comparison only
BIncome approach only
CCost approach, considering the unique structure has few direct comparables✓ Correct
DOnly the assessed value approach
Explanation
For unique, special-purpose properties with few comparables (historic churches, schools, public buildings), the cost approach is often the most reliable method, as it values the property based on land value plus reproduction/replacement cost less depreciation.
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