Establishing fair market lease rate for a commercial lot.

[Jo Ollmann]

Good evening, 

We are looking at purchasing a commercial lot that until recently was occupied by three separate buildings. The buildings were destroyed by fire and the owners are considering a sale of the lot.  There are no other lots in the surrounding area and the only other commercial properties we have found already have buildings.  Is there a formula or quick way of figuring the fair market lease rate, so this can be leased to developers?  

Thank you.