Options for a vacant lot

[Taylor Howe]

My wife and I live in Utah and bought a rental property in Spencer earlier this year. The backyard of the property was split into a second lot by the seller. It's on a corner so both lots are on a street. 

We ended up getting both lots in the deal. Each lot is .141 acres. Things are going great with the tenant in the existing house. 

We're wondering what we should do with the other lot. Sell it, build a tiny house or regular house and turn it into a rental. Or just leave it as is. 

Interested in feedback from the community here. Any ideas? How would we go about exploring the different options?