They usually get 30k sqf for a standalone building. Yours is 20k so your location is main point they getting it.

Second...be it 10~50 years, high % rental increment... A couple notice and off they go. Be aware of this. Of course, investing a sum to build an outlet means they are serious too. Make a wild decision benefit yourself wont harm (your pocket).

People talk about ROI. Do some calculations. Sometimes developed doesn't mean u get good return as more cost involved. U might get back a few shop lots. Bear in mind, not all lots u get is the best one.

Leasing the land out appropriately anytime u will get a good return, and most importantly, u still own the land.

Im handling one parcel of land from my friend. This is somewhat similar so hope you get it.