If you are already under lease, candidly you are likely behind the 8 ball as they say, I am hoping you have at least some abated rent while you get the buildout done prior to opening and rent commencing?  

Guys like Jay who has done things like been a guest speaker in our mastermind group, Dave Foster who knows 1031s and can help with them but doesn't push anything, Michael Plaks who provides all kinds of good tax info unprompted.

why not develop something more proven like hotel on portions of it and make this a larger development and carve out pieces?

It could very well be its all lost but seems like a big jump to conclusions by investors that basically did very high interest rate investing and expected  CD like performance..

I work closely with investors like yourself, helping them grow and diversify their portfolios.

Think of it like buying an existing performing business.

Quote from @Michael K Gallagher: Quote from @A Rao: I invest in land and have done entitlement/zoning and other DD work successfully for years.A broker called me this morning on a property I have on a busy interesection and has a QSR client who likes the location, but does not want to do a ground lease, only a build to suit. 

@Connor Bath,Good luck, this looks like a fun project.

Is it doable - yes but you will need to go to a lender who probably uses their own funds vs. an instituational lender as they will not like 2nd position nor the low amount.

Also seems like a lot of MF sells occupied with tenants in place so you just have to comfortable with that and contracting up from and seeing inside after contracting.    1st step is to find a great lender and get pre-approved for a loan so you know what your budget is.