At this point it's pretty speculative..

Lenders often want so much pre-leased before they will give funding to a developer to start construction on a project.As the speculative projects in an area go from just talk,to approval, to construction then surrounding land becomes more of a solid investment choice.It sounds like you want to sell off this for a larger gain and then put risk on the developer.

As for future rent speculation, unless we have a sustained and robust general economy, I don't expect Bay Area rents to go up much over the next several years.

Or... is this speculative?

Stay away from speculating, you have no control of the market in the future but you do have control in what you are willing to pay for the lot.Hope that helps,

The AMC theaters, Game Stop's, and Blackberries of the world will look a lot less attractive to the speculators that have driven them up.

Any other speculate on this propertie like running numbers is a waste of time.

I realized early that to meet my goals, and to diversify risk, I'd have to go outside of the Lower Mainland, since the main ways to make money here are redeveloping land or speculating in hot neighbourhoods, and I don't have the money to play in these areas.

However I would make sure that whatever deal you are buying makes sense financially with the value it has today (no speculating), while your equity builds organically. 

Sometimes we understate the worst case if only from a lack of imagination of what could go wrong in the future.I'll admit that some of the westside Atlanta investment going on is speculative but I'd challenge anyone who suggests that any form of real estate investing is NOT speculative.