Landlocked
posted on 06-06-2019
What it is:
Landlocked is a term describing a piece of property that has no direct access.
How it works/Example:
Landlocked property is separated from major access ways including streets, canals and public roads. Landlocked property can be located behind other buildings and may even be hidden from view. People can generally only access landlocked property by crossing another piece of property. For example, a piece of land located behind a mall and accessible only through the mall is considered landlocked.
Why it matters:
In the real estate market, properties that are landlocked have very low market values due to their undesirable locations. This is particularly true of commercial properties.