What to do with vacant lot

[Fan Bi]

We randomly have a 3,100 sf lot zoned R-3 in South Providence. Looking around on MLS, seems like it should go for ~$40,000.

What should we do with it - sell it ourselves, sell it via a broker, something else more creative?

cc @Anthony Thompson @Frank Patalano

[Anthony Thompson]

@Fan Bi first try selling it to neighbors, especially whose lots are adjacent to yours. Also if there are any properties without parking on the same street or nearby, they may jump at the chance to add parking to their property.

Based on the current zoning ordinance, I think the most someone could put on a 3,100 sf lot in R-3 would be a single family, at least without a dimensional variance (long shot).

So yes, based on house prices I'd estimate 40-50K would be about right if you do list it, just based on what you've put in your post.