Commercial Land Development

[Rakesh Dusane]

Okay first let me start by saying that I am very new to this and this is my first post on BP

I am looking to develop a piece of land that is 1.5 Acre in size on the north west side of Houston. There is a CVS is right next to it and the intersection is getting busy everyday. I have one renter already ready (Dental). 

So my question is on a 1.5 acre lot how much rent able space can be built and what is the average cost of commercial construction.

The owner is asking around $1.1MM for land, so what will be best way to go about it to make it a financially viable project. 

Any type can of feedback will be really helpful. 

Thanks