To an expanding company or developer, the worth of different plots of real estate can be much greater to them (for investment purposes) than the actual value of the property itself.  These buildings or pieces of land have the capability of providing many opportunities for business growth.  Because of this, It is not uncommon to hear of companies or private investors planning to “buy out” other companies, purchase vacant land, or acquire private homes, at an inflated price.  As a result, prime real estate provides us with an excellent example of use value versus exchange value.
The use values of these properties (the worth of how much the potential proprietor will benefit) in such a situation can far exceed what the physical property itself might be appraised for.  This causes the exchange value (what the potential proprietor is willing to pay for it) to inflate, as well.
Features of a property that may cause a company or investor to have a higher use value for the land or building can include (but are not limited to): location of property, pre-established buildings or structures, aesthetic or societal advantage, or environmental resources that the land provides.  The location of a property could greatly benefit the success of a business (ex: a strip mall near a major highway).  Pre-established buildings or structures could be more valuable than they’re appraised for, due to historical or renovation potential.  A land plot or building property could have more use value for its scenery or location in a cultural sense.  Many people see higher value in land with a view or that exists in a location that has been deemed in a more “upper class” are.  Environmental resources can also be huge motivating factors for purchase.  Natural elements (ex: gold, silver, other metals, etc.) or resources (oil, lumber, river access, etc.) can greatly affect the worth of a property.
The exchange value of the land is the price that the property is ultimately sold (or rented) for.  When traded on an open market, the final amount paid by the buyer is what it has been deemed worth after all of its potential has been accounted for.
In conclusion, a piece of real estate can easily be affected by perceptions of use value vs. exchange value.
References:

http://onesourcetrust.thomson.com/propertytax/newsletter/article.asp?q=242

http://kapitalism101.wordpress.com/2010/01/12/law-of-value-4-use-value-exchange-value-and-value-draft/

http://www.u.arizona.edu/~gpivo/Use%20Value%20and%20Exchange%20Value.htm

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