I'm assuming this is vacant land by your description ? Land is tricky right now because builders/investors are scaling back. You might have some Real Estate that bucks the trend a little bit, though, as you are a little closer in. I see a speculator that wishes to take advantage of the strong buyer's market as your most likely buyer. Especially given the R-3 zoning. Most likely in a "buy and hold" strategy that enables resale or development at some point in the future when the market is more conducive to such endeavors. The problem remains that this buyer will be scouring the market for screaming deals. No investor will purchase in this market unless it is an unbelievable value. So to answer your question, there is always a premium for developable land in a largely landlocked area, but market conditions are far from ideal for the type of buyer that will be interested in the parcel you own. I would most likely hold on to it for the time being unless you need to sell it to facilitate a purchase. Best of luck, and feel free to visit my site (below) or contact me for any additional information regarding land values, market conditions, etc.