All of that ate into returns.What I LOVE about NNN is that with a single tenant investment grade the lease is backed by thousands to tens of thousands of locations.

First you will need to find out what the property is zoned for and how high you can build from grade.

The Bubble Watch Index grades Atlanta, Georgia, as the nation’s frothiest market followed by Detroit and Jacksonville.

Growing up, I was taught to go to school, get good grades, and then get a career.

If that's the kind of market you are interested in I recommend reviewing The Ultimate Guide to Grading Cleveland Neighborhoods as a starting point to familiarize yourself with it.

That is very different from buying national investment grade credit rated tenants with long term leases so the 2 are not comparable.

I think the issue here is that a lot of the advice is more geared towards people that can/want to buy institutional grade assets.

If the sites are larger than 1/2 acre (NOT AN EXACT NUMBER), and you are needing to develop the land (i.e. roads, utilities, mass grading) I would then recommend involving a civil engineer on a site plan and to do a more in-depth due-diligence. 

Grade? 

For someone looking at investment grade real estate (almost always a somewhat beat up property with value-add opportunities), this means less competition, and you being more likely to get the specific beat up investment grade property you want, rather than settling.