Value of the real estate

Hey all,
Hope everyone is healthy and well. Just a quick question. My dad is looking to sell one of his parks (28 unit; all tenent owned) in central Washington State. With my parks I have always valued them in cap rate/ cash on cash basis. My parks are all in very rural locations and the value of the land is nominal.

My dad’s park in question is located on two city blocks in a increasingly growing small city. Lots of tech centers locating there due to the power grid rates. My question is how would you account for the increasingly valuable land value of your park when attempting to get to a sell price?

Thanks in advance all,

If it were me, I would get an opinion of value from a reputable commercial broker that works development deals. They could give you an idea of the potential land value if you were to market the property as a redevelopment. It would really have to be a desirable location to market the property that way. Just my opinion…