In Property Valuation the four essential determinants of value in Real Estate are;

Adaptability.

Economic conditions are always changing.The more possible uses a property has the more likely will be the chances of finding buyers or new tenants at higher returns in the future. As a result what is popular today may not be popular tomorrow. Therefore, the better the property can adapt to other use the better the value and security of income.

Rarity.

There are not too many similar properties around, therefore relativley rare

Transferable.

There must be clear title. If there is no clear title you may have problems when it comes to selling.

Demand.

In a high demand area. Therefore the more available qualified tenants the more rent you can charge.