How to calculate value of land

[Nick Capriotti]

Im curious to know if there is some way to figure out the value of vacant land. I found a vacant lot, 100x100 with possible sub-division into 2 50x100 lots. I'd like to hear what you guys may suggest or what you think of this. Thanks!

[Karen Margrave]

@Nick Capriotti There is no formula, every market is different.  What is the overall real estate market like in your area? What are the values of homes in the neighborhood where the lot is? 

Talk to a civil engineer that can look at the lot, and knows what the requirements are in your town for splitting property, what setbacks are required, etc., and ask him if it is feasible to split the property, and what the total amount of costs would be. 

Once you have that information, you will be in a position to know if it's doable. 

Percentages that other people can or cannot do in other states, or even other areas of your state mean NOTHING. Find out specifics for your city, and even neighborhood!