In mass real estate valuation, in cadastral valuation, there is a problem of splitting the value of a single real estate object into the value of land plot and buildings (improvements) located on it. One of the key information sources for real estate valuation is market data. Such data may contain information on offer prices, as well as actual transaction prices (for example, in mortgage transactions) for the whole object. At the same time, in the accounting policy of enterprises different rates of land and property tax often require separate accounting of the value of land plots and the buildings located on them. The problem of such splitting of a single object’s value is the subject of permanent discussions in the valuation community. There are no established methods. This article proposes a method of splitting the value of a single property object based on the approach borrowed from co-operative game theory. A simple game formulation of the problem and its fair solution based on the Shepley value are considered. Simple and well-interpretable computational formulas are obtained, which allow us to split the market value of single objects on large data sets in minimum time. The proposed method is new in the theory and practice of valuation.