Value-in-use

Value-in-use is the net present value (NPV) of a cash flow or other benefits that an asset generates for a specific owner under a specific use.

In the U.S., it is generally estimated at a use which is less than highest-and-best use, and therefore it is generally lower than market value.

When a particular user enjoys special benefits, such as extraordinary financing, agglomeration benefits, or grandfathered zoning, then the value may be higher than market value, and the value is considered to be an investment value.