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When investing in commercial property (vacant land) here are several quick pointers.  From a value perspective, use the saying of "buy where they stop pricing it by the foot and price it by the acre".  That's called "The Path of Progress".  Be sure to check out what the future land use code says can be built there and see how far away city water and sewer is located. 

Two other big items, environmental issues and wetlands.  If you see any spots with dead grass or foliage, have it checked out.  If there's been a use contiguous to the property that could have caused contamination it may have "leached" onto the property you're considering.  How may acres of it are "useable" and how many are wetlands. 

I'll leave with one you wouldn't think of.  Are there any turtles on the property?  Last time I checked it cost $750 (I'm not joking) to relocate each and every turtle before you could develop the property into a commercial real estate use.  Need help in investing in land, call me, Claude Gardner, 386 846 4135.