Which of the following best describes the "highest and best use" of a property?

The concept of "highest and best use" refers to the most profitable legal use of a property that is physically possible, appropriately supported, and financially feasible at a particular time. This use must result in the highest value for the property. That is why the option stating a use that results in the highest value captures the essence of this principle.

In determining the highest and best use, various factors are evaluated, including market trends, zoning laws, and the property's physical characteristics. Ultimately, the focus is on maximizing the property’s value, making this answer the most aligned with the principle.

While the current market value reflects a property’s worth at a specific moment, it does not inherently capture the potential uses that could yield maximum value. Legal restrictions and penalties may limit use but do not necessarily identify the optimal use. Financial feasibility is an important consideration, but it alone does not determine the highest and best use without regard to value maximization.