Which method is NOT applicable when it comes to valuing land using the market approach?

The market approach to valuing land primarily relies on comparable sales and market data, focusing on the land itself rather than improvements made to it. The correct answer mentions square footage of improvements, which is not a method used to value the land directly.

The front foot using a depth factor and acreage for large tracts are both established methodologies focusing solely on land characteristics and market trends in those specific dimensions. They utilize the size or front footage of the land to establish its value based on comparable sales data.

The residual land value method is also applicable as it determines the value of land based on the potential it has for development after deducting the cost of improvements. This method, while considering improvements, ultimately focuses on the land value itself.

In contrast, square footage of improvements pertains specifically to the value of the buildings or structures on the property rather than the land. This reflects a valuation based on the investment in improvements rather than the land value, making it inapplicable for the purpose of determining land value through the market approach.