Commercial Development
There is a piece of land near a high school in my county that I believe is a good buy. I have been on the money previously with land flips. I have doubled my money a couple times...(bought for $10k sold for $20K) and I kind of have the same feeling about this property, although I'd like to develop it. I could lock up the land (two lots, about 0.2 acres) for $100,000. I could build a 4,500 square foot building. Beyond that, the only inclination I have that this is a good deal is that it's at a lit intersection, caddy corner from the local high school! So, ultimately the value of this land depends on the commercial application. I want the application to be retail businesses that focus on the kids. What kind of businesses do kids like after school? 7-Eleven would not be interested. (Slurpees!) Them and most of the gas giants are only interested in making "destination centers" and will not develop small parcels for convenience, non-gas, stores. Any ideas? Is my idea good?