What would you do? Commercial High Density land with house

[Peter Hitt]

I'm closing on a deal in the Boise, Idaho area with a flat 1/2 acre of commercial/high density zoning (46 units/acre). There is an older home on the front corner that will generate approximately $2,000/month in rent. The property is located in a fairly desirable neighborhood within 2 miles of the city center. I'd like to generate more cash flow and fence off the existing home that will be rented. What would you do with this property? I'm planning on holding long term.