What must be considered alongside physical possibilities when determining a property's highest and best use?

When determining a property's highest and best use, financial feasibility and market trends are critical considerations alongside physical possibilities. The highest and best use of a property is the most profitable legally permissible use that is physically possible and financially feasible.

Financial feasibility assesses whether the potential use generates sufficient income to cover costs and provide a return on investment. Market trends provide insight into demand, competition, and pricing dynamics in the area, helping to evaluate whether the proposed use aligns with current and future market conditions. Together, these factors ensure that the selected use maximizes the property's value while considering practical financial implications.

Considering emotional connections, neighborhood aesthetics, personal sentiments, or historic value, while important in certain contexts, do not directly influence the financial viability or market demand that are essential in this analysis. They may provide additional insights but are secondary to the fundamental economic criteria that govern highest and best use determinations.