Just got off the phone with the guy, what a piece of work. He now thinks it's a pot of gold and talks all kinds of speculation prices of what if's.
Told him I don't buy on speculation, just fair market value. But we're suppose to meet tomorrow and look it over again.

I did find out a new peice of info, it's commercial and grandfathered in. No other commercial can be built around it, and if it were to burn down it could not be rebuilt as commercial. All the property around it is zoned residential. Good and bad there.
This vacant property around it goes real deep and will probably get developed at some point as a subdivsion, apartments or something like that.