What are my options when there are no comps available

[Eric Heider]

I am a newbie to real estate and bigger pockets. I have been quietly reading forums and post for about a month. Long story short I have a background in construction and spec building in Massachusetts.

I have found myself in an interesting situation with a piece of property (1 of 5) that could be involved in a larger real estate project (about 12 SFH and 4 unit commercial building). This current lot is larger than the others it is surrounded by as is the house. It is a 5 bedroom 5 bath single family home that has been split into 3 units. The unofficial asking price is 650-750 on about an acre of land with a 2 car detached garage.

This house (along with the 4 others) would be an eventual tear down to complete the project. My problem is the asking price is high and I cannot find comps for an appraised value to give an official offer.

Any input or suggestions would be great thank you in advanced

-Eric