A more thorough explanation:

Definition: Most-suitable-use value refers to the highest and best use of a property from an economic standpoint. It is the value that a property would have if it were used in the most profitable way possible.

Examples: For example, if a piece of land is currently being used for farming, but it is located in an area where commercial development is booming, the most-suitable-use value would be the value of the land if it were used for commercial development instead of farming. Another example would be if a building is currently being used as a warehouse, but it is located in an area where residential development is in high demand, the most-suitable-use value would be the value of the building if it were converted into residential units.

Explanation: The examples illustrate how the most-suitable-use value is determined by the potential profitability of a property's use. It takes into account the current market demand and the potential for future growth or development. By determining the most-suitable-use value, property owners can make informed decisions about how to use their property to maximize its value.