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Birds of Kensington Gardens and Hyde Park. London, England (February, 2020).
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Transportation Corridors
A transportation corridor is a long, narrow strip of property that includes surface, subsurface, and air rights. It often connects two or more areas restricted to surface, subsurface, and air rights, for the deportation of goods and passengers.
Some examples of transportation corridors are: railroad and mass transit lines, public and private roads, pipelines, including oil, gas, water, and sewer lines, fiber optics, pedestrians pathways, aqueducts and canals, television cables, and electrical transmission lines.
How to Appraise a Transportation Corridor
There are different methods that can be used when appraising a transportation corridor, including Replacement Cost New Less Depreciation (RCNLD), Corridor Value (CV), Sales Comparison Approach, Across the Fence Value (ATF), Net Liquidation Value (NLV), and Going Concern Value (GCV). [1]
Replacement Cost New Less Depreciation (RCNLD) is based on the principle of substitution and is more commonly referred to as the “cost of assemblage.” It includes the cost of the part taken, appraisal costs, negations costs, title costs, grading costs, project management costs, and the acquisition and demolition of buildings. According to Dolman and Seymour, this cost can range from two to six times the Across the Fence (ATF) value. The Court of Appeals in People v. Southern Pacific Transportation Company (1978) held that “the cost of reproduction is an acceptable approach to a determination of just compensation.”
When several similar commensurate commodities, goods or services are available, the one with the lowest price attracts the greatest demand and the widest distribution. Corridor Value (CV) is determined by multiplying the ATF value and the enhancement factor. The enhancement factor is arrived at by dividing the sales price of a corridor by its ATF value.
Sales Comparison Approach is applicable when there are several sales or comparables that have sold in the subject’s market area. This approach is seldom used since there are relatively few transactions of transportation corridors that sell in the same market area.
The underlying assumption in the Across the Fence (ATF) method is that land in the transportation corridor is equal to the value of adjoining lands. When using this method, the property is divided down the centerline and each half is joined to the adjacent parcel along with the adjacent property’s highest and best use and unit value. The ATF is the sales comparison approach modified to the degree that shape, size, topography, and access are disregarded. The State Board of Equalization, railroad companies, utility companies and public agencies use this method more than others when assessing value of operating and non-operating property, ground rent, and public and private streets.
The Net Liquidation Value (NLV) is the present value of the net amount the owner will realize if the corridor is sold piecemeal over a reasonable time period. Net proceeds are determined after administrative, marketing, real estate taxes, and cleanup costs are deducted from the gross revenues.
The Going Concern Value (GCV) is the expected future profits discounted to today’s value at a rate reflecting the quantity, quality, and durability of the income.
Appraising transportation corridors is a challenging endeavor, but can be accomplished by using one or more of the methods outlined above.
Valentine Appraisal and Associates Has Successfully Completed Several Transportation Corridor assignments:
Lower Franklin Reservoir Property in City of Los Angeles, CA
An Existing Pipeline Traverse Crossing at the BNSF Transportation Corridor in Hesperia, CA
1.9 Mile 50-foot wide Right of Way Corridor in Riverside County, CA
80.48 Mile Transportation Corridor in Siskiyou and Shasta Counties, CA
Palmdale Commercial Building Appraisals
Avigation Easements
Pipeline Easements
Visit Valentine Appraisal and Associates
[1] Valentine, Gary S. “Appraising a Transportation Corridor.” Right of Way Nov-Dec. 1998: 6-10.
Our Service Area Cities Real Estate Appraiser, and Commercial Appraisal / Appraiser Coverage Areas: 93510 Agoura 91301 Agua Dulce, Saugus 91350 Airport Worldway; 90009 Alhambra 91801, 91803 Altadena 91001 Arcadia 91006 91007 ARCO Towers 90071 Arleta 91331 Artesia 90680 Athens 90044 Atwater Village 90039 Avalon 90704 Azusa 91702 Baldwin Hills 90008 Baldwin Park 91706 Bassett 91746 Bel Air Estates 90049. 90077 Bell 90201 Bell Gardens 90201 Bellflower 90706 Beverly Glen ; 90077, 90210 Beverly Hills 90210 – 90212 Biola Univ. (La Mirada) 90639 Boyle Heights 90033 Bradbury 91010 Brentwood 90049 91501 – 91502 / 91506 / 91523 (Glenoaks) 91504 Burbank (Woodbury Univ.) 91510 Cal State Dominguez Hills (Carson) 90747 Cal State Long Beach (Long Beach) 90840 Cal State Northridge 91330 Cal Tech (Pasadena) 91125 – 91126 Calabasas 91302/91372 Canoga Park 91303 – 91304 Canyon Country (Santa Clarita) 91351 Carson 90745 – 90746 Carson (CS Univ. Dominguez Hills) 90747 Carson/ Long Beach 90810Castaic 91310 / 91384 Castellemare 90272 Century City 90067 Cerritos 90701 Chatsworth 91311 Cheviot Hills 90064 Chinatown 90012 City Terrace 90063 Civic Center 90012 Claremont 91711 Commerce, 90040 Compton 90220 – 90222 Country Club Park 90019 Covina 91722 – 91724 Crenshaw 90008Cudahy 90201 Culver City 90230 / 90232 Cypress Park 90065 Diamond Bar 91765 / 91789 Dominguez Hills, Cal State (Carson) 90747 Downey 90240 – 90242 Downtown Los Angeles ;90013 – 90015 / 90017 / 90021 / 9002 Eagle Rock ;9004East Los Angeles 90022 East Los Angeles 90023 East Rancho Dominguez 90221 Echo Park ;900 Edwards AFB 93523 El Monte 91731 – 91732 El Segundo 9024 El Sereno 90032 Elizabeth Lake 93532 Encino 91316 / 91436 Federal Bldg (Lawndale) 90261 Firestone Boy Scout Res. 92621 Florence 90001 Gardena 90247 – 90249 Glassell Park 90065 Glendale 91201 – 91208 (La Crescenta) 91214 Glendale (Tropico) 91204 – (Verdugo City) 91046 Glendora 91740 – 91741Glenoaks (Burbank) 91504 Granada Hills 91344 Griffith Park 90027 Hacienda Heights (La Puente) 91745 Hancock Park 90004 / 90020 Harbor City 90710 Hawaiian Gardens 90716 Hawthorne (Holly Park) 90250 Hermosa Beach 90254 Hi Vista 93535 Hidden Hills 91302 Highland Park 90042 Hollywood 90028 / 90038 / 90068 Huntington Park 90255 Hyde Park 90043 Industry, 91744 / 91746 / 91789 Inglewood 90301 – 90303, 90305 Irwindale 91706 Jefferson Park 90018 Juniper Hills 93543 Koreatown 90005 La Canada-Flintridge 91011 La Crescenta (Glendale) 91214 La Habra Heights 90631 La Mirada 90638La Mirada (Biola Univ.) 90639 La Puente 91744/91746 Hacienda Heights) 91745 (Rowland Heights) 91748 La Verne 91750 Ladera Heights 90056 Lake Hughes 93532 Lake Los Angeles 93550 / 93591 Lake View Terrace 91342 Lakewood 90712 – 90713 / 90715 Lancaster 93534 – 93536 90260 Lawndale (Federal Bldg) 90261 LAX Area 90045 Leimert Par 90008 Lennox 90304 Littlerock 93543 Llano 93544 Lomita 90717 Long Beach 90802 – 90808, 90813 – 90815, 90822(Cal State Long Beach) 90840 (McDonnell Douglas) 90846 90805 (World Trade Ctr) 90831 – 90832 AIr Port Worldway 90009 ARCO Towers 90071 Arleta 91331 Atwater Village 90039 Bel Air Estates 90049 / 90077 Beverly Glen 90077 / 90210 Boyle Heights 90033 Brentwood 90049Cal State Northridge 91330 Canoga Park 91303 / 91304 Century City 90067 Chatsworth 91311 Cheviot Hills 90064 Chinatown 90012 Civic Center 90012 Country Club Park 90019 Crenshaw 90008 Cypress Park 90065 Downtown 90013 – 90015 / 90017 / 90021 / 90029 Eagle Rock 90041 East 90023 Echo Park 90026El Sereno 90032 Encino 91316 / 91436 Glassell Park 90065 Granada Hills 91344 Griffith Park 90027 Hancock Park 90004 / 90020 Harbor City 90710 Highland Park 90042 Hollywood 90028 / 90038 / 90068 Hyde Park ;90043 Jefferson Prk 90018 (Koreatown) 90005 (Ladera Heights) 90056 Lake View Terrace 91342(LAX Area) 90045 (Leimert Park) 90008(Los Feliz) 90027 (Mar Vista) 90066 Mid City) 90019 (Mission Hills) 91345 (Montecito Heights) 90031 (Mount Olympus) 90046 (Mt. Washington) 90065 (North Hills) 91343 North Hollywood 91601 – 91602 / 91604 – 91607 Northridge 91324-91325 Pacific Highlands 90272 Pacific Palisades 90272 Pacoima 91331 (Palms) 90034 Panorama City 91402 (Park La Brea) 90036 (Pico Heights) 90006 Playa del Rey) 90293 (Porter Ranch) 91326 (Rancho Park) 90064 Reseda 91335 San Pedro 90731-90732 (Sawtelle) 90022 (Shadow Hills) 91040 Sherman Oaks 91403 / 91423 (Silverlake) 90026 (South Central) 90001 / 90003 /90007 / 90011 / 90037 / 90047 / 90061 – 90062 (Studio City) 91604 Sun Valley 91352 (Sunland) 91040 (Sylmar) 91342 (Tarzana) 91356 (Terminal Island) 90731 (Toluca Lake) 91602 (Tujunga) 91042 (USC) 90089 (Valley Village) 91607 Van Nuys) 91401- 91403 / 91405 – 91406 / 91411 / 91423 (Venice) 90291 (Watts) 90002/90059 (West Adams) 90016 (West Beverly) 90048 (West Fairfax) 90035 West Hills) 91307 (West Los Angeles) 90025 (Westchester) 90045 (Westlake) 90057 Westwood 90024 Wilmington 90744 (Wilshire Blvd) 90010 (Winnetka) 91306(Woodland Hills) 91364 / 91367 Los Feliz 90027 Los Nietos 90606 Lynwood 90262 Malibu 90265 Manhattan Beach 90266 Mar Vista 90066 Marina del Rey 90292 Maywood 90270 McDonnell Douglas 90846 Mid City 90019 Mission Hills 91345 Monrovia 91016 Montebello 90640 Montecito Heights 90031 Monterey Hill 90032 Monterey Park 91754-91756 Montrose 91020 Mount Olympus 90046 Mount Wilson 91023 Mt. Washington 90065 Newhall (Santa Clarita) 91321 North Hills 91343North Hollywood 91601 – 91602 / 91604 – 91607 90805 Northridge 91324 – 91325 Cal State Univ. 91330 Norwalk 90650 Oak Park 91301 Pacific Highlands 9027290272 Pacoima 91331Palmdale 93550 – 93552 / 93591 Palms Palos Verdes Estates 90274 Panorama City 91402 Paramount 90723 Park La Brea 90036 Pasadena 91101 / 91103 – 91107 (Cal Tech) 91125 – 91126 Pearblossom 93553 Phillips Ranch 91766 Pico Heights 90006 Pico Rivera 90660 Playa del Rey 90293Playa Vista 90094 Pomona 91766-91768 Porter Ranch 91326 Quartz Hill 93536 Rancho Dominguez 90220 Rancho Palos Verdes 90275 / 90717 / 90732 Rancho Park 90064 Redondo Beach 90277 – 90278 Reseda 91335 Rolling Hills 90274 Rolling Hills Estates 90274 Rosemead 91770 Rosewood 90222 Rowland Heights (La Puente) 91748 San Dimas 91773 San Fernando 91340 San Gabriel 91775 – 91776 San Marino 91108 San Pedro (0731 – 90733 Santa Clarita (Canyon Country) 91351(Newhall) 91321 Valencia 91354 – 91355
The post Transportation Corridors appeared first on Valentine Appraisal.
https://valentineappraisal.com/transportation-corridors/transportation-corridors/
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Madonna's crowd in Hyde Park MDNA TOUR
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Pipeline Easements
Pipelines transport products from one point to another. Pipeline title is usually
acquired through an easement. According to Websters, an easement “is the right a property owner grants to another for the use of their property”.
Therefore, a pipeline easement is the right to construct, operate, and maintain a pipeline over the land of others within prescribed geographical limits.
How to Appraise a Pipeline
There are two different ways to appraise a pipeline depending on if it is part of a transportation corridor or within a conforming parcel.
Reviewing published articles and books, interviewing buyers and sellers of property that is encumbered by pipelines, and sending out letters to property owners are all methods that can help when appraising pipeline.
No Acceptable Standard Width for a Pipeline Easement
There is no acceptable standard width for a pipeline easement. It is usually determined through negotiations. Initially, railroads arrived at the easement width by rounding up the diameter of the pipe to the nearest foot, then adding two feet on both sides as a buffer to ensure the pipeline’s integrity and security. But, railroads soon realized that pipeline users were getting free access onto their corridors to service and maintain pipelines, so they reasoned that since automobile lanes on public roads are typically 11 to 12-feet wide, and the width of a standard truck is 8 feet 2 ½ inches, a 10 to 12-foot width requirement to access pipelines seemed reasonable.
Pipeline Easements and Severance Damage
Once the width of the pipeline has been negotiated, and the value has been determined through research and determining the value of surrounding land, severance damages can be analyzed. Severance damages are those damages to the remainder property that are compensable. Severance damages are seldom found for new pipelines in transportation corridors because owners of corridors do not let pipeline companies install their pipeline if it could diminish the value of the remaining portion of the corridor and/or pipeline easements.
Through advance research and preparation, conducting an in-depth search for best comparable data available, and conducting a thorough analysis, your appraisal of pipeline will be supportive and reliable. You can count on us to have your assignment done on time, too.
Sample Pipeline Appraisal assignments completed by Valentine Appraisal and Associates:
• Two Existing Pipelines at the Dominguez Channel in Carson, California
• An Existing Pipeline Traverse Crossing at the BNSF Transportation Corridor in Hesperia, CA
Our Service Area Cities Real Estate Appraiser, and Commercial Appraisal / Appraiser Coverage Areas: 93510 Agoura 91301 Agua Dulce, Saugus 91350 Airport Worldway; 90009 Alhambra 91801, 91803 Altadena 91001 Arcadia 91006 91007 ARCO Towers 90071 Arleta 91331 Artesia 90680 Athens 90044 Atwater Village 90039 Avalon 90704 Azusa 91702 Baldwin Hills 90008 Baldwin Park 91706 Bassett 91746 Bel Air Estates 90049. 90077 Bell 90201 Bell Gardens 90201 Bellflower 90706 Beverly Glen ; 90077, 90210 Beverly Hills 90210 – 90212 Biola Univ. (La Mirada) 90639 Boyle Heights 90033 Bradbury 91010 Brentwood 90049 91501 – 91502 / 91506 / 91523 (Glenoaks) 91504 Burbank (Woodbury Univ.) 91510 Cal State Dominguez Hills (Carson) 90747 Cal State Long Beach (Long Beach) 90840 Cal State Northridge 91330 Cal Tech (Pasadena) 91125 – 91126 Calabasas 91302/91372 Canoga Park 91303 – 91304 Canyon Country (Santa Clarita) 91351 Carson 90745 – 90746 Carson (CS Univ. Dominguez Hills) 90747 Carson/ Long Beach 90810Castaic 91310 / 91384 Castellemare 90272 Century City 90067 Cerritos 90701 Chatsworth 91311 Cheviot Hills 90064 Chinatown 90012 City Terrace 90063 Civic Center 90012 Claremont 91711 Commerce, 90040 Compton 90220 – 90222 Country Club Park 90019 Covina 91722 – 91724 Crenshaw 90008Cudahy 90201 Culver City 90230 / 90232 Cypress Park 90065 Diamond Bar 91765 / 91789 Dominguez Hills, Cal State (Carson) 90747 Downey 90240 – 90242 Downtown Los Angeles ;90013 – 90015 / 90017 / 90021 / 9002 Eagle Rock ;9004East Los Angeles 90022 East Los Angeles 90023 East Rancho Dominguez 90221 Echo Park ;900 Edwards AFB 93523 El Monte 91731 – 91732 El Segundo 9024 El Sereno 90032 Elizabeth Lake 93532 Encino 91316 / 91436 Federal Bldg (Lawndale) 90261 Firestone Boy Scout Res. 92621 Florence 90001 Gardena 90247 – 90249 Glassell Park 90065 Glendale 91201 – 91208 (La Crescenta) 91214 Glendale (Tropico) 91204 – (Verdugo City) 91046 Glendora 91740 – 91741Glenoaks (Burbank) 91504 Granada Hills 91344 Griffith Park 90027 Hacienda Heights (La Puente) 91745 Hancock Park 90004 / 90020 Harbor City 90710 Hawaiian Gardens 90716 Hawthorne (Holly Park) 90250 Hermosa Beach 90254 Hi Vista 93535 Hidden Hills 91302 Highland Park 90042 Hollywood 90028 / 90038 / 90068 Huntington Park 90255 Hyde Park 90043 Industry, 91744 / 91746 / 91789 Inglewood 90301 – 90303, 90305 Irwindale 91706 Jefferson Park 90018 Juniper Hills 93543 Koreatown 90005 La Canada-Flintridge 91011 La Crescenta (Glendale) 91214 La Habra Heights 90631 La Mirada 90638La Mirada (Biola Univ.) 90639 La Puente 91744/91746 Hacienda Heights) 91745 (Rowland Heights) 91748 La Verne 91750 Ladera Heights 90056 Lake Hughes 93532 Lake Los Angeles 93550 / 93591 Lake View Terrace 91342 Lakewood 90712 – 90713 / 90715 Lancaster 93534 – 93536 90260 Lawndale (Federal Bldg) 90261 LAX Area 90045 Leimert Par 90008 Lennox 90304 Littlerock 93543 Llano 93544 Lomita 90717 Long Beach 90802 – 90808, 90813 – 90815, 90822(Cal State Long Beach) 90840 (McDonnell Douglas) 90846 90805 (World Trade Ctr) 90831 – 90832 AIr Port Worldway 90009 ARCO Towers 90071 Arleta 91331 Atwater Village 90039 Bel Air Estates 90049 / 90077 Beverly Glen 90077 / 90210 Boyle Heights 90033 Brentwood 90049Cal State Northridge 91330 Canoga Park 91303 / 91304 Century City 90067 Chatsworth 91311 Cheviot Hills 90064 Chinatown 90012 Civic Center 90012 Country Club Park 90019 Crenshaw 90008 Cypress Park 90065 Downtown 90013 – 90015 / 90017 / 90021 / 90029 Eagle Rock 90041 East 90023 Echo Park 90026El Sereno 90032 Encino 91316 / 91436 Glassell Park 90065 Granada Hills 91344 Griffith Park 90027 Hancock Park 90004 / 90020 Harbor City 90710 Highland Park 90042 Hollywood 90028 / 90038 / 90068 Hyde Park ;90043 Jefferson Prk 90018 (Koreatown) 90005 (Ladera Heights) 90056 Lake View Terrace 91342(LAX Area) 90045 (Leimert Park) 90008(Los Feliz) 90027 (Mar Vista) 90066 Mid City) 90019 (Mission Hills) 91345 (Montecito Heights) 90031 (Mount Olympus) 90046 (Mt. Washington) 90065 (North Hills) 91343 North Hollywood 91601 – 91602 / 91604 – 91607 Northridge 91324-91325 Pacific Highlands 90272 Pacific Palisades 90272 Pacoima 91331 (Palms) 90034 Panorama City 91402 (Park La Brea) 90036 (Pico Heights) 90006 Playa del Rey) 90293 (Porter Ranch) 91326 (Rancho Park) 90064 Reseda 91335 San Pedro 90731-90732 (Sawtelle) 90022 (Shadow Hills) 91040 Sherman Oaks 91403 / 91423 (Silverlake) 90026 (South Central) 90001 / 90003 /90007 / 90011 / 90037 / 90047 / 90061 – 90062 (Studio City) 91604 Sun Valley 91352 (Sunland) 91040 (Sylmar) 91342 (Tarzana) 91356 (Terminal Island) 90731 (Toluca Lake) 91602 (Tujunga) 91042 (USC) 90089 (Valley Village) 91607 Van Nuys) 91401- 91403 / 91405 – 91406 / 91411 / 91423 (Venice) 90291 (Watts) 90002/90059 (West Adams) 90016 (West Beverly) 90048 (West Fairfax) 90035 West Hills) 91307 (West Los Angeles) 90025 (Westchester) 90045 (Westlake) 90057 Westwood 90024 Wilmington 90744 (Wilshire Blvd) 90010 (Winnetka) 91306(Woodland Hills) 91364 / 91367 Los Feliz 90027 Los Nietos 90606 Lynwood 90262 Malibu 90265 Manhattan Beach 90266 Mar Vista 90066 Marina del Rey 90292 Maywood 90270 McDonnell Douglas 90846 Mid City 90019 Mission Hills 91345 Monrovia 91016 Montebello 90640 Montecito Heights 90031 Monterey Hill 90032 Monterey Park 91754-91756 Montrose 91020 Mount Olympus 90046 Mount Wilson 91023 Mt. Washington 90065 Newhall (Santa Clarita) 91321 North Hills 91343North Hollywood 91601 – 91602 / 91604 – 91607 90805 Northridge 91324 – 91325 Cal State Univ. 91330 Norwalk 90650 Oak Park 91301 Pacific Highlands 9027290272 Pacoima 91331Palmdale 93550 – 93552 / 93591 Palms Palos Verdes Estates 90274 Panorama City 91402 Paramount 90723 Park La Brea 90036 Pasadena 91101 / 91103 – 91107 (Cal Tech) 91125 – 91126 Pearblossom 93553 Phillips Ranch 91766 Pico Heights 90006 Pico Rivera 90660 Playa del Rey 90293Playa Vista 90094 Pomona 91766-91768 Porter Ranch 91326 Quartz Hill 93536 Rancho Dominguez 90220 Rancho Palos Verdes 90275 / 90717 / 90732 Rancho Park 90064 Redondo Beach 90277 – 90278 Reseda 91335 Rolling Hills 90274 Rolling Hills Estates 90274 Rosemead 91770 Rosewood 90222 Rowland Heights (La Puente) 91748 San Dimas 91773 San Fernando 91340 San Gabriel 91775 – 91776 San Marino 91108 San Pedro (0731 – 90733 Santa Clarita (Canyon Country) 91351(Newhall) 91321 Valencia 91354 – 91355
The post Pipeline Easements appeared first on Valentine Appraisal.
https://valentineappraisal.com/pipelines/pipeline-easements/
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