Which of the following criteria is essential in determining the highest and best use of a property?

Determining the highest and best use of a property involves a comprehensive analysis of multiple criteria, all of which are essential.

Financial feasibility assesses whether the proposed use of the property can generate adequate income or return on investment to justify the costs associated with its development or use. This includes evaluating market demand, potential rental income, and overall profitability.

Legal permissibility refers to the zoning regulations and land-use policies that dictate what can be done with a property. A potential use must comply with local laws and regulations to be considered viable.

Physical possibility considers the tangible characteristics of the property, including its size, shape, access, and topography. A use must be physically achievable within the constraints of the property's features and geographic location.

Because all three criteria—financial feasibility, legal permissibility, and physical possibility—must be analyzed together to ascertain a property's highest and best use, the comprehensive approach is represented in the choice of all of the above. Each aspect plays a critical role in ensuring that the proposed use is practical and lawful, ultimately contributing to the overall value and success of the property.