Vacant Lot in a Planned Unit Development Community

[Matthew Shay]

I am interested in a vacant lot which is zoned commercial, it is an outparcel beside a shopping mall that is anchored by Kroger. I am looking at a few different strategies if I buy this. I can sell this as is or build a "blank building" and allow another business to purchase this and modify it to their needs and taste. I am working with an agent who is also a builder and property manager that works 10 minutes from this area. It is going to need at least 15k of fill dirt in site preparation and the cost of the structure would be around $250k. I am still in the early stages of researching this and doing due diligence  but I was hoping to hear from the BP community if you have any advice and if someone already built a blank structure before without securing a buyer/tenant. BTW when I mention a blank building I mean a slab with foundation, water, plumbing, HVAC. Obviously there will be a difference in cost to do the plumbing for a casual dining restaurant and an insurance office. Also, I wanted to see what are implications including for the holding cost if this is part of a Planned Unit Development community. I know it behaves like a condo is some matters