What would you offer on a lot like this?

[Brooke Adams]

Investors all seem to evaluate land differently, so I’m curious: 

If you came across a lot like this in Metro Atlanta, how would you approach pricing it? Would you calculate based strictly on build potential, or factor in future area growth as well? 

Property here for context: https://www.biggerpockets.com/real-estate-listings/malb-vacant-lot-opportunity