Lot in Lehigh Acres, FL

[Brad Caudle]

I live in Missouri and a couple years ago I inherited a 0.5 acre empty lot (uncleared with electric poles) on the eastern edge of Lehigh Acres, FL. I’m trying to decide what to do with it.

Around 2007 my dad was offered $60 K for it, though it couldn’t be sold due to a tax lien (now expired). The 2008 financial crisis dropped the value big time. Currently Zillow has it at at $5.6 K.

Can I expect a day when the much higher value returns? What conditions cause empty lots to go up in value and what should I root for? I’ll need to pay $2 K to have a Florida attorney handle the Probate (I’ve procrastinated) and then decide whether to hold long term while paying yearly taxes or sell what is now a small asset.