What is defined as the most profitable use of a property that is also legal and possible?

The concept of "highest and best use" is a fundamental principle in real estate appraisal and land use regulation. It refers to the most profitable, legally permissible, and physically possible use of a property. This definition emphasizes that a use must not only be financially advantageous but must also comply with local zoning laws and regulations, and be physically feasible given the property's characteristics and location.

When determining the highest and best use, appraisers consider factors such as market demand, physical features of the property, and legal constraints. This analysis is crucial for determining property value and guiding development decisions.

The other options do not accurately encapsulate this comprehensive assessment. For instance, "investment grade use" and "optimal use case" lack the broader inclusivity of legal and physical possibility alongside profitability, making them less appropriate terms in this context. "Best utilization," while sounding similar, does not inherently carry the legal and profitability factors that are central to the concept of highest and best use.

Thus, the correct choice effectively captures the essential criteria necessary for evaluating the most suitable and advantageous use of a property.