Selling tear down. How do determine it's value?

[Chris L.]

HI there,

I am selling a single family teardown that's on a 70x100 corner lot in a town that is mostly two families. Lots of tear downs going on here. The house is on a corner lot with a sidewalk on one side and no sidewalk on the other. My understanding is that builders can't build as large a building on a corner lot.Is that true?  If so, how much does one deduct in price on a corner lot?  How do I figure out how to price my property since it's not a new or old two family but an older single family?  

[Jon Ree]

It might be worthwhile for you to go through the zoning yourself and sell the lot "shovel ready" with approved variances for a bigger project. If builders are pricing the risk in, you probably won't get what you want out of it.