Two open lots - multi family or commercial for best ROI?

[Brad Crumpton]

Hopefully buying a package that includes a duplex and two lots on Main Street in a small/medium but very fast growing town in northeast Texas. lots are .2 and .25 acres. Each roughly 100x100 and next to one another. Zoned SFR and MFR currently but rezoning to commercial probably not a big deal.

Possible options - 

1 - build duplex or triplex on MFR lot. Re-zone SFR to Commercial and sell to re-coup my down payment. Would cash flow $500-$750 a month at current rates and rents. More down the road.

2 - re zone both to commercial and build a shopping strip with 3-4 spots. Don’t know what market rent for commercial is but I assume the building would cost quite a bit less and rent for more, but I wouldn’t be able to sell the lot to recoup costs. I have no way of knowing what business rent is in the area. 

Open to any thoughts/input. I currently only have 3 SFRs and this is all new to me.