How do I run numbers for lots?

[Briana Johnson]

I'm looking at a few lots in Baltimore Maryland but I'm not sure how to run numbers for them. Could someone help? 

[Ned Carey]

Are the lots Buildable? There are many lots in the city which would not qualify as buildable, in some cases even if a building used to be present on the lot. 

Land is valued based on what can be done with it. What can be done with the land? What will is cost to do that? How much profit will a developer expect in profit to get it there? 

If there are comparable lots that sold nearby, use the comparables to estimate a value. Otherwise you ned to know the answers to the questions above.