I know of a fund/vehicle that could use a Pocket/Napkin NNN listing(s) in the near future. 

Napkin math tells me around 1700 mo/unit rent and like 275k/door? 

Deeds aren't just signed over on paper napkins you know. 

Is that some sort of capped sanitary or storm line coming out of the wall?  

If it's hill side and you need cut and fill... not seeing the property in person that's prob easily a $200k job.That should be enough to do a back of the napkin math.

@Chris CondeMake sure to read up on this code for starters, MINIMUM STANDARDS OF FITNESS FOR HUMAN HABITATION (STATE SANITARY CODE, CHAPTER II)http://www.mass.gov/eohhs/docs/dph/regs/105cmr410....Notes: Be wary with numbers of electrical outlets, ceiling height of rooms, wary of fire codes as a code compliant fire detection or extinguisher system may be required. 

A restaurant napkin!?

This is a quick, back-of-the-napkin sketch of the strategy that I use.

Land development is very expensive by nature, depending on the upgrades to the facility (permits, earth movements, storm drainage, utility services connections, county and city fees, sanitary improvements that the city may assign with your improvement, permitting, storm water pollution fees and costs, roads improvements and parking lots requirements, etc.)  

Let the engineering stuff to an engineer (sanitary, storm-water, gas, electrical, communication, etc)... expect some fees on the engineering work plus the utilities companies.