How do you calculate the front foot price for a lot with 500 front feet valued at $1,200 per front foot?

To calculate the front foot price for a lot, you multiply the number of front feet by the value per front foot. In this case, the lot has 500 front feet, and the value is $1,200 per front foot.

The calculation is as follows:

500 front feet x $1,200 per front foot = $600,000.

This result reflects the total value based on the front footage, demonstrating how appraisers determine property values by leveraging specific metrics like front foot pricing. It effectively translates the physical dimension of the property into a monetary value, which is critical for accurate appraisal assessments. Thus, the answer of $600,000 represents the correct evaluation of the property's worth based on its front footage.