Valuing landlocked land can be a bit tricky as it lacks direct access to a public road or right of way. However, here are some ways to approach the valuation. Valuing landlocked land can be a complex task, as the lack of direct access to roads and other amenities can impact the property’s value.

Here are some factors to consider when valuing landlocked land:

1. Consider the location: The location of the landlocked land can play a significant role in its value. If it’s in a highly desirable area, such as near a beach or a popular tourist attraction, it may still have a high value despite its lack of direct access. The location of the landlocked land is a crucial factor in determining its value. If the property is in a desirable area, such as near a lake or tourist destination, it may have a higher value despite being landlocked.
2. Look at surrounding property values: Take a look at the value of surrounding properties with direct access. This can give you an idea of the landlocked land’s potential value based on its proximity and access to other valuable properties.
3. Access easements: If the landlocked property has an easement or right-of-way allowing access to the property, this can increase its value. An easement gives the owner the right to use someone else’s land to access their own property. 
4. Assess the potential for an easement: An easement is a legal right to use a portion of someone else’s property. If there is potential for an easement to be granted to the landlocked property, this can significantly increase its value.
5. Size and shape of the property: The size and shape of the landlocked property can impact its value. A larger parcel of land may have more development potential, while an irregularly shaped lot may be less valuable.
6. Land use restrictions: Land use restrictions, such as zoning regulations or environmental limitations, can impact the value of landlocked land. These restrictions may limit the potential uses of the property, which can lower its value.
7. Market demand: The demand for landlocked land in the local real estate market can also impact its value. If there is high demand for land in the area, even landlocked property may have value.
8. Consider alternative uses: Landlocked land may not be suitable for certain types of development, such as residential or commercial properties that require direct road access. However, it may be suitable for other uses, such as agricultural or recreational purposes, which can still have value.
9. Comparable sales: The valuer should review recent sales of similar landlocked properties in the area to determine a fair market value for the property.
10. Development potential: The valuer should evaluate the property’s potential for development, including its suitability for residential, commercial, or industrial development.

The value reduction for landlocked land can vary depending on a number of factors such as location, size, topography, access to utilities, and local zoning regulations. In general, landlocked land is considered less valuable than land with direct access to a public road or other means of ingress and egress. The value of landlocked land can be reduced compared to land with easy access to roads or other forms of transportation. The exact amount of reduction in value depends on various factors, such as the location, availability of alternative access routes, and the intended use of the land.

A common method used to determine the value reduction for landlocked land is to compare the sale prices of similar properties with and without direct access. For example, if a comparable property with direct access sold for 100,000, and a similar-sized landlocked property sold for 20,000, the value reduction for the landlocked property could be estimated at 80,000 or 80%.

Overall, valuing landlocked land requires careful consideration of its location, potential for easements, and alternative uses. In order to get a more accurate valuation of the landlocked land, it is recommended to consult with a professional appraiser or real estate agent who is familiar with the local market conditions and can provide an informed opinion on the property’s value.

In general, landlocked properties may be less desirable to potential buyers, and therefore may sell for a lower price than similar properties with easy access. The value reduction could be significant, up to 10-50% or more in some cases.

It’s important to note that there may be exceptions where the value of landlocked land may not be reduced. For example, if the land has unique natural features or resources that are highly sought after, such as a scenic view, a lake or river access, or mineral rights, the value may remain high regardless of the access limitations.

It is important to note that the actual value reduction for landlocked land can vary significantly depending on the specific circumstances of the property. It is recommended to consult with a qualified real estate appraiser or professional for a more accurate assessment. Ultimately, it’s best to consult with a local real estate professional who can provide a more accurate assessment of the value of a specific landlocked property based on the local market conditions and other factors.