Should I price the land 2 times above market value and offer a low interest rateORPrice the land at current market and use a very high rate?

That's a very low amount given it's a commercial property.

If you want low, safe returns that are truly passive, invest in the stock market.  

Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.

Other properties in that area of similar size and vintage in good condition have sold in the low $200s and rent in the $1600-$1800 range.  

@Will Almand this sounds like a very useful case for cost segregation especially if you can utilize the depreciation expenses against your income.

Foreclosures ar near all time lows.

We have managed to build a solid liquid nest egg, but I'm hesitant to lock the majority of it up in a low LTV mortgage on a really expensive primary residence.

Bought house in 2020, so instant cash flow given the low rate and price.

The ADA defines "readily achievable" as “easily accomplishable and able to be carried out without much difficulty or expense.”Without much difficulty or expense is substantially different for a small mom and pop restaurant than it is for Google or TJ Max.