@Curtis Bidwell  our project is Thompson Heights its the project just a tad north of town and up on the hill you can't miss it.. we have been able to sell all the homes as specs.. we are done there now... its just too hard to building the Oregon coast.. the logistics are not worth it.

Also, if the street is not at its ultimate right a way, the city may require a 5-8' set back and you lose square footage because of this.Industrial/Manufacturing is in high demand at the moment (at least in Southern California), and with the continued growth of e-commerce and companies improving their logistical networks, your property may have great value to a commercial developer.I suggest you look at land comps and current for sale listings to give you an idea of what you may be worth.

Just curious on the logistics and such.

Auburndale is a great city with tremendous potential, Berkley rd which is one of Auburndale's main roads goes from the south end of Auburndale to the North, where it will take you close to the Florida Polytechnic University (Lakeland), there is a lot of growth going on in that area, they are also building a brand new standalone ER for Advent Health along with a 47 million dollar research center which will take about 2 years https://floridapoly.edu/research/research-centers/applied-research-center/Auburndale is home to various Coca Cola plants, to include Minute maid, Simply Orange etc. you will also find Cutrale, a major Citrus Plant, and Sadle Creek, one of the fastest growing Logistics companies in the area.As with any city, Auburndale will have lower income areas, however you will also find some very nice neighborhoods with custom homes and gated communities, most of the newer communities are being built heading toward the north side of Auburndale, which places residents with easy access to I4, for those who have to commute to Tampa or Orlando. 

Still working through the logistics so your feedback is really appreciated.

We've got 4 major projects planned for the next 3 years adding more than 200 units - which we're working out the logistics on now.

I'd still like to see how easy it is for someone to secure that third seat in a row... nevertheless, I'll stick with my point that the OP should carefully consider the logistics of this.

Having a turnover or eviction before you sell is gonna add WAY more cost and logistical issues.I would have a conversation about increasing the payback each month...... getting that $$ over 22 months is WAY too long of a "loan".

Working the day to day, solving logistics, materials, and labor problems. 

And finally, what are the logistics involved?