What is a special-purpose property in appraisal?

A special-purpose property in appraisal refers to a property that is specifically designed and built for a unique use, such as schools, churches, hospitals, or recreational facilities. These types of properties often have unique features or layouts that cater specifically to their intended function, making them less flexible for alternative uses compared to general-purpose properties.

This specificity can impact their marketability and the way they are appraised, as their value is often tied closely to the demand for their particular use. For instance, a church cannot be easily converted into a grocery store without significant renovations.

The other options describe properties that are either more versatile or not adequately defined as special-purpose, which reinforces why the definition provided is the most accurate.