DETERMINATION OF THE VALUE OF REAL ESTATE 203 
seeks to condemn the property, as in the case of land required 
by the Government for fortification purposes, or for a light 
house, but in all cases where the adaptability to the special 
use is recognized and the property can be applied to that use 
by any one suitably circumstanced, the evidence relating to the 
effect of such adaptability upon market value should be admissi- 
ble. It should be admitted even though somewhat speculative. 
The court must determine what weight to give to evidence of 
value for special uses which only remotely affect the market 
value. 
In the case of a mine on land whose surface has value for 
no other purpose than grazing, it will, unquestionably, be proper 
to ascertain the value of the land for the special purpose of min- 
ing. If the land has value for mining and at the same time for 
reservoir purposes or as a dam site, there should be no objection 
to a consideration of these values separately for each specific 
purpose, just as the same would be considered by the prudent 
purchaser when he makes a study of market value. The con- 
sideration of the effect of availability for these purposes upon 
market value is not to be classed as too speculative. If use for 
any such purpose lies in the future, due allowance must be 
made for the lapse of time before the ultimate value resulting 
from that use can be realized. If the time is uncertain and 
remote, the effect of the special adaptability upon market value 
will be small when compared with what this effect might be if 
immediate use were a certainty. 
The Value Multiple. — Other considerations, too, may limit 
this market value. It has, for example, become a practice, 
almost standard, to value rights of way for railroads and high- 
ways at from 1.5 to 3.0 times the market value of adjacent 
lands of similar character. Custom has given land required for 
such uses such values. There are no frequent transfers of such 
property as in the case of town lots or farms. Consequently 
the determination of the value multiple which may be regarded 
as generally customary in the region where a right of way is to 
be valued may be the best guide in fixing this value.