Evidently, its in a 100 year flood plain and raises some issues with developing the rest of the land.Asking is 1.7MM with $150K down, seller-financed.

Part 2Any idea what commercial land development is selling for per sq ft in the city?

Waiting for bank, development of the site has not happened yet. 1st unit!

Currently, we are developing a property in Chevy Chase DC. 

Although I would recommend that you learn to develop your own models as it will save you a ton of hassle and loss of brain cells in the long run.

Tampa Mayor Bob Buckhorn has been an advocate for the development, and economic investment for the area and his efforts are bringing results.Development Projects in TampaOver the past few years, Tampa has experienced higher rates of real estate investment, especially in large community projects.

There is a very attractive 10-year tax abatement that the government offers to qualifying buyers / developers. 

P.O.S. inspections were developed, I would argue, because municipality leadership was unable to devise programs to HELP homeowners with their properties. 

Be sure to check the condo development has been pre-approved for FHA loans, many are not .

You mentioned the Cromford report and city-data.com which are good information for current or past data, but if you're trying to forecast into the future, you need to get involved with the data of where things are going to be developing in the future.