Commercial Property Flips

[Mahlek Immanuel]

A property near where I live in North Atlanta, went on the market a few weeks ago. It’s listed as commercial because you would have to tear down existing home and build. I live around new construction communities, and the land that’s for sale is right under 1 acre. The lot is selling for $270K and new homes in that area are selling at $450K (4/3 @ 3K Sq ft.). I believe at least 2 homes can be built or 3 townhomes(which they’re are none in the area for sale). My question is how do I analyze this if it’s a good investment or not?