Raw Land
Land that has had no man-made improvements or alterations made to it.
Man-made alterations include all structures, such as sewers and streets, as well as buildings.
Land that remains unused and in its natural state. Raw land is historically free from any improvements
such as grading, construction or subdividing.
Example:
Raw Land can be exchanged for income producing apartments, or
a warehouse can be exchanged for higher rents from an office building.
