Land value and purchase price

[Nicholas Colbert]

Can someone help me understand some best ways to value properties.

How do you correctly value land that would have a condemned building on the property. Does this effect the price you would pay because you have to demo etc. or does that not matter. For example. A .45 acre lot is market price 960k. The land is only 840k and the “property improvements” is valued at 120k. Obviously you wouldn’t want to pay for the 120k cause it’s has no use to you. All comments and ideas are appreciated.