Pricing Commercial Lane
I am considering a land purchase but am unsure if the price is reasonable, overpriced, or underpriced. When I was looking to purchase a building, a local organization that helps business gain funding was telling me that the average price in my area was 25% over assessed value. That puts this land at approximately $31k, which I know isn't right. 

Any tips or places I can read about commercial real estate would be helpful. 
[{"id": "efabr7s", "text": "Most commercial land is priced by $ per Square foot or $ per Frontage foot. Some things often taken into consideration when valuing commercial land: zoning, road frontage, physical and legal access, average daily traffic, max building height and max building size, topography, width to depth ratio, and many more things. It is not simple X% over anything.\n\nWithout knowing your market, or any characteristics about the property it'll be difficult for anyone here to help you. Find a local real estate professional with commercial experience.", "replies": [], "depth": 1}, {"id": "efam00m", "text": "For lands, there are three types of investors - developer (buy land, build something and sell it), site developer (hold land, go through local government to get zoning, and put utilities to the land) and someone just got too much money.\n\n&amp;#x200B;\n\nFor developers, the logics are simple - given the zoning, what I could build, how much I could sell it for, and then how much I need to spend to build it. The land cost usually is 20% of the whole building cost.   \n\n&amp;#x200B;\n\nFor site developers, the logic will be much fuzzier. The land cost should be pretty low, and then they will need to hold for long time, then the zoning will be very political. \n\n&amp;#x200B;\n\nFor rich people, it is all about dream :)", "replies": [], "depth": 1}, {"id": "efau9da", "text": "I\u2019m an investment broker for a major national brokerage. I myself am new to brokerage, but not new to the investment world. I\u2019ve been in Investments with several kinds of businesses for the last 15 years.\n\nOne thing I stay up-to-date on is political and economic trends. Several factors are currently in play that lead me to believe that mid- to late-2019 will be a MUCH better time to buy, when real estate isn\u2019t (as) inflated.\n\nDo you know if you\u2019re in a primary, secondary, or tertiary market? I can help you further from there if you PM me.\n\nThanks, and the offer to contact me is open to any buyers or potential sellers to contact me via PM! If there are any specific questions that are of interest to several people, I am happy to contribute publicly to this forum as well.", "replies": [], "depth": 1}]