Farmland in NJ Highest & Best Use?

[Jared Forman]

We have an opportunity to purchase a small 12-acre farm with 2 dilapidated building on it. The farm is located in an area that has seen medium size planned neighborhood development activity within the last 5 years. The financier of the project owns an instrument rental company and would like to make their headquarters out of the parcel. Our team is working on the due diligence process for the property. 

I would like to know what are my options for highest and best use considering the neighborhood, zoning, & trends in RE??? (The lot is subdividable)