Looking for best use extra lot on single family House

[Mitchell Krotz]

Hello All,

I have been involved with real estate for about 1.5 yrs. I bought a house which I am currently "BRRR-ING" Trying to finish the work up on it by March. The house came with two separate lots, one with the house on it, the other is empty. When I finish the house and get it re-appraised I will be looking to do something with the property (sell, lease out, build something etc). The lot is a corner lot in the Hilliard, Columbus area. Has anyone had this type of situation? I am looking for any possible guidance (I am very new to the game) in terms of what I could potentially do with the property to help me get this real estate thing rolling quickly yet efficiently.

The lot is sized for a single family residence.