The diploma thesis deals with the topic of analysis of the highest and best use (abbreviated as HABU). In the theoretical research, this method is described, and defines the solution process using 4 basic steps, namely legal admissibility, physical possibilities, financial justification, and maximum profitability. Subsequently, this method is applied to a specific plot in Zlín-Jižní svahy area. The solution proposes 9 variants of utilization of this land. Using the HABU method we are looking for the best use, which in turn brings the investor the highest profit. The aim of the thesis is also a clear description and practical demonstration of the application of this method, which has not been represented in the Czech Republic so far. It can thus help to understand and use it in property valuation.