Eval deal: 970k for .55 acre finished pad on a busy corner in Las Vegas. All the big chains are in the area (walmart, lowes, ross, etc). I would be an owner/user. Am I overpaying? I have never bought a piece of commercial real estate and have no experience in building a commercial building.
Thank you all for taking the time to read. Here are more details:
It would be a healthcare facility. 
The only comp is a piece of land 1/4 mile away that sold 4 yrs ago for 32/SF. The seller on the one I'm considering wants 39/SF. I am trying to meet at 37/sf. 
I have an agent and she is great but not a great negotiator and I'm slowly realizing she doesn't have a ton of experience :( she works hard and is quick to reply but my confidence in her is low. I usually have to tell her how to negotiate. 
It's not a hard corner but the pad has great visibility. 
Neighborhood is middle to upper-middle class
[{"id": "ef6r3ck", "text": " **I have never bought a piece of commercial real estate and have no experience in building a commercial building.** \n\n&amp;#x200B;\n\nWell, what could go wrong then??", "replies": [{"id": "ef6rsup", "text": "May I refer you to r/wallstreetbets? ", "replies": [], "depth": 2}, {"id": "ef7p88u", "text": "Something will likely go wrong and that's ok. That's life's tuition in a sense. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "ef6syyy", "text": "\"Pulls out bag of popcorn and begins eating.  Staring intensifies.\"", "replies": [], "depth": 1}, {"id": "ef6tefm", "text": "Express car wash? \ud83e\udd14", "replies": [], "depth": 1}, {"id": "ef6wvai", "text": "Lol, you need representation if you dont already.  Talk to a local broker for comps and due diligence.  You're not saving anything by trying to do a direct deal if you do not know what your getting into. \n\nMy questions for your broker are:\nZoning, property tax, recent and comparable comps, environmental status, previous uses etc. Are there any development setbacks? Are their any outstanding development fees or assessments owing to the city? Are there any upcoming PAC's. \n\nDo your home work....... it's not all about price, it's about understanding your constraints and evaluating risk just as much.\n\nGood luck!  ", "replies": [{"id": "ef7q2w2", "text": "Thank you for the feedback. I have an agent but hasnt been very helpful answering or asking these questions to the seller. \n\n&gt; it's not all about price, it's about understanding your constraints and evaluating risk just as much. \n\nThis is my worry. I'll have to get an architect involved which I already know who it will be but Im not sure if its ok to ask him to do some work without a deal in place. \n\n&amp;#x200B;", "replies": [{"id": "ef7sk8b", "text": "You need a different agent.  And you can pay an architect to do anything you want. ", "replies": [{"id": "efbzzr8", "text": "^^^\n\nThis, fire your agent and call someone else. \nA good agent will be able to navigate this all day.", "replies": [], "depth": 4}], "depth": 3}, {"id": "ef9ush1", "text": "My local government just bought a piece of land for $3M for a community college.  Only it's not zoned for a college.  This stuff happens every single day.  You need experienced professionals in your corner.  Go hire an architect (or preferably an engineer at this stage) immediately.  ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ef6wwok", "text": "\\~$2mm/AC is about the top of the market. It's what maybe a pharmacy or other credit tenant would pay for a prime pad site. Your cost basis could be lower if you went vertical. It better be a killer location right off the bat, otherwise you're overpaying.", "replies": [{"id": "ef7q740", "text": "its a good location. The pad allows for a 3400sf building but im sure theres a range depending on use. ", "replies": [{"id": "ef9ut71", "text": "How much SF do you need as a tenant out of that 3,400sf?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ef7buga", "text": "What are you planning to use this for? There is literally no possible way to give any substantive comment without knowing more about the property and it\u2019s intended use. ", "replies": [{"id": "ef7qqlp", "text": "dental. estimated size of building is 3400sf according to the developer. all utilities are to the pad already. The parking lot is done also", "replies": [], "depth": 2}], "depth": 1}, {"id": "ef7q1w7", "text": "Are you planning on developing the site yourself? Do you know what zoning will allow you to build? Do you know how crazy high construction costs are right now? If you plan to develop yourself how is your offer structured (ie: are you closing right away or will you get time to entitle the site before closing?)? I could post 100 more questions here but I think you get the picture, if you can't answer these then I would suggest taking a step back because you could be in for a lot more hurt than just \"life's tuition\"", "replies": [], "depth": 1}, {"id": "ef8cuim", "text": "Just curious... Is your rep an actual commercial broker or a residential agent who also does commercial?\n\nI'm a local cre broker and we're seeing a lot of residential agents trying to do commercial deals, but lack experience and therefore lack the basic knowledge a deal like this calls for. \n\nIn my opinion, you shouldn't even have these questions because your agent should have already given you the info beforehand. ", "replies": [], "depth": 1}]