Looking to purchase a 2 acre commercial land in Maryland.

[Katie Kim]

Hi,

I am currently looking to purchase a 2 acre commercial lot located in Harford Co, MD.  The lot is flat and rectangular shape (about 600ft x 170ft).  It is located on main road, directly across from a shopping center which has Verizon, govt offices, medical office, restaurant.  Currently, the lot has a 100 year-old house which had been previously used as a commercial office space.  The condition of the property is very poor and can not be leased.  There is also a mobile home that was built about 30 years ago which is currently being leased.  It has public water and sewer.  Zoning is Commercial Industrial and most of the retail business is allowed.  It is a very small town and demographics are not strong.  Traffic count is 30K according to one of the large commercial brokers.  There are multiple commercial lots in the area that have not been developed.

I am thinking about buying this and do a preliminary planning and either resell or build a new shopping center.  The price is very low and I am going to purchase with cash.  I need some advise on how to market this property to national retailers and what kind of retail shopping center I should consider.  I was thinking a shopping center with liquor store, nail shop, restaurant or a convenience store with gas station (possibly), or a large daycare.  My main concern is if demographics support my plan.