Our town needs a restaurant. What is the play?

[Daniel Toy]

The town is growing rapidly with tons of new home construction still happening along with new schools, and we were recently ranked as the fastest growing city within the metro area....but we are served with only a handful of restaurants, 2 of which are fast food (sonic and Mcdonalds). Everyone in town knows we need more options because everyone currently has to drive out of town for food and entertainment. I'm eyeing a piece of land along the main corridor into town.

The lot is a little over an acre and is already zoned commercial, but its mostly raw land with an older home thats just being rented out to a small business. Sonic restaurant is just a few lots over. 

Given the lot size, is it worth pursuing for a restaurant and if so... do I buy the land and just market the lot to restauranteurs as a lot flip? Do I develop it and rent out the building? Should I find a partner and buy into a franchise (LOL)? I think most fast food places would develop themselves, so I'm not sure what extent my involvement would be or should be if I buy this lot. I'd love to own another business, but the food business scares me so I'd rather stick with the real estate play here.