Lot value

[Casey Twedt]

I want to know how do I put a value on a lot that has a house, but the house needs to be torn down and replaced.

The Lot is close to NDSU in Fargo, ND.  The lot size is 50 X 140.  I don't know what the city will allow for coverage, but a lot of other houses have been replaced with multiplex apartments for the college kids.  So the scope of work is demo an old 480 sq ft house built in 1920 and replace with a new construction with off street parking.  

Can any one tell me what the value should be of the lot currently?