In his book about land valuations, James Boykin, PhD, MAI talks about studies that show the degree of value change as nearby amenities improve. For example:

• Lots with lagoon frontage sold for 155% of lots without frontage.
• Marsh front lots sold for 260% more than lots without marsh front.
• Deep-water lots sold for 715% more than lots without this feature.
• Moreover, oceanfront lots sold at even higher multiples.

Additionally, increased beach width positively affected oceanfront land values, as did sheltered areas versus exposed lots (with strong winds), and deep-water lots versus shallow water lots. Views were another positive influence and value increased as the extent and quality of the views increased.

Land Valuation: Adjustment Procedures and Assignments was published in by the Appraisal Institute. It is available on amazon.com through the link below http://www.amazon.com/exec/obidos/ISBN%3D0922154643/informaonbasicskA/104-1886484-9988728