Where To Start...Develop 27,000 Sq Ft Lot On Busy St In Houston

[Danny N.]

Hello, I have a lot thats on a moderately busy street with lots of big businesses around it. Schlumberger,Baker Hughes, and the police department have big offices within 2 minutes of the property on the same street. A dollar general was just built on a little bigger lot right down the street and the property I have owned for a while is just sitting there with businesses around it. I have other businesses and single family home rentals but ive never developed a commercial property. What is the first steps in determining what would be best on the property and deciding what to do? Would I contact a local like Marcus Millchap? Or What would one do? I think A shopping center would do well, but the lot is small i think. I think fast food or some other restaurant would do well, lots of options. Just trying to understand more about the process of developing such a property. I looked at the sales brochure of the dollar general that just sold and its around 17,000 VPD....is that good or bad? I've owned the lot a while and its been leased to a small used car lot but the tenant just left to open a bigger place in a different spot so I finally have an opportunity to do something else.

Thank you