What is adaptive reuse?
Converting a property from its current use to a higher-value use (e.g., office to apartments). Creates value only when the new use passes all four highest-and-best-use tests after conversion costs and approval risk.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.