How do real estate developers determine a price for real estate?

[Manuel Martinez]

Hi I am new here and would like to get some advice or opinions on a commercial property I own. My question is “ How do real estate developers come up with an offer they make to people on a piece of real estate?” I have had people stop by my property and ask me if am interested in selling but have never gave me an offer. They seam more like amatures than professionals but it seams like some big company or a developer might stop by soon and I just want to be ready. A CVS bought an entire block about 3 years ago ( block next to me) and my neighbors ( total of 4 that I never met ) just sold to a developer and started building a retail strip. Theirs a sign on their property that say a 7300 sq ft retail strip is being built. I own half an acre and it seams like my property is a bit bigger than theirs. Im In san antonio texas. I would really appreciate any advise. Thank you