Definitions

Highest and best use: (Wikipedia Definition) is a concept in Real estate appraisal. It states that the value of a property is the fair market value of a property at the use that will yield the maximum possible value. This use, the Highest and Best Use, may or may not be the current use of the property.

Jurisdiction: On our site this means what city or county government does the property fall into.  Also see Jurisdiction

Land Use

Lot Size: Acres (1 Acre=43,560 square feet)

Price Per Acre: Price divided by number of acres

Price Per Sq Ft: Price per acre divided by 43,560

Restrictive Covenants

Setback

SP/OLP:  Sales Price divided by the Original List Price.

100 Year Flood Plain & 500 Year Flood Plain:

Price Per Allowable Density: Price divided by (43,560 divided by Min lot size under current zoning). This could also read as Price divided by Max units per acre.

example: $1,000,000 R3 zoned parcel (Unincorporated Fulton County)

$1,000,000/(43560/18,000 sq. ft)= $1,000,000/2.42= $413,223

Zoning Variance

Zoning Classification (Click here for to check your classification for City of Atlanta)

Category Definitions

Assemblage

An assemblage by our sites simple definition is a grouping of properties sold together. There could be multiple sellers involved in an assemblage making negotiations more difficult than dealing with a single seller. These residential assemblages could need the entire spectrum of entitlements to complete the project. Everything from full engineering surveys, possible rezoning, demolition permitting, tree recompense, land disturbance permits, grading the site, utility permits, storm water management, building permits all the way to the final certificate of occupancy for the new houses could be needed. 

Large Tract

This piece of raw land is a start to finish development project requiring the full scope of permitting and site work. A Large Tract of land will need the entire spectrum of entitlements to complete the project. Everything from full engineering surveys, possible rezoning, demolition permitting, tree recompense, land disturbance permits, grading the site, utility permits, storm water management, building permits all the way to the final certificate of occupancy for the new houses could be needed. 

Vacant Lot/Teardown

Just as the name implies, a vacant lot or teardown is just that. A vacant lot or teardown requires much less development work and planning than a new subdivision but more than a developed lot. Unlike an assemblage or large tract of undeveloped land, a single lot or teardown does not require subdivision and typically requires less grading and site work .

Developed Lot

A developed lot by our definition has gone through all of the steps required to be ready for building a residence. All grading should be done as well as utilities installed to the lot. Building permits will still be required in almost all cases.

Please let us know if you have any questions about the site or would like any supporting documents for the data shown on our site.  Please feel free to contact us by phone (404) 918-0331 or by email at Giles@DevelopingAtlanta.com or Katherine@DevelopingAtlanta.com.