Purchasing a commercial plot off an exit of a highway, where to get started?
Have the opportunity to buy a plot for .32 acres off a highway exit. Prior building was a Taco Bell and has since been demolished. A concrete pad is all that remains.

What sort of DD needs to be done? Concrete foundation condition?
Stage 1 environmental report?

If I even do this what can I do to rent out to another tenant? Do I have to build up a shell?
[{"id": "j0ef3og", "text": "An environmental study is helpful, but your biggest issue is the highest and best use. \n\nIs there demand for pad site retail?  I would think that is the first question you should be asking.", "replies": [{"id": "j0efb8d", "text": "Definitely helpful! This question should be directed towards the broker?\n\nEdit: the area is up and coming with a median income of 68,000 per year. The strip is off a major route in NY. Plot is right next to the exit, literally.", "replies": [{"id": "j0eh7ha", "text": "A broker will help, but they aren't exactly known for in depth analyses. It really depends what your role is.\n\nWould you invest in a company that has no prospects?  \n\nYour question is sort of like \"Should I buy stocks in this company that I have no idea whether or not will ever generate positive cash flow or dividends?\"", "replies": [{"id": "j0eiehj", "text": "Role would be I own the plot as landlord and would like to ground lease to a potential tenant developer. Maybe a Starbucks, Chick-Fil-A, etc", "replies": [{"id": "j0l6xvv", "text": "You need a broker to deal with corporate tenants.  You\u2019ll get steamrolled.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "j0erq5o", "text": "Your absolutely best possible tenant would be a land lease based fast food company. Find out who owns the other KFC\u2019s, Taco Bell\u2019s, and drive thru companies that also don;t own their own real estate (not McD\u2019s not Chich fil a). Rent them the land super long term. Low rent, even lower responsibilities, and if written correctly they build a building that becomes yours if they ever leave.", "replies": [{"id": "j0py8ot", "text": "I\u2019m looking at land lease options for some of our available commercial sites in western NC.  Most of my previous experience is based on selling land vs. leasing.  \n\nStarting to get more educated on this topic and researching the best sources for well-written ground leases - any suggestions?  Will be checking with our own attorneys but wondering if brokers are sometimes also a good source when the time comes\u2026", "replies": [], "depth": 2}], "depth": 1}, {"id": "j0tg57r", "text": "Storage", "replies": [], "depth": 1}]