Grandpa is giving me valuable family land that I can’t sell. What’s the smartest financial move?

My grandpa is planning on giving me one of his old lots ,
For full disclosure he still has not given it but has announced it in the family and we will attend the lawyer next week .

The lot is located in the most sought after neighborhood in my small town , there is very high demand in a way that any lot practically sells in less than a month in the neighborhood and there is not much anymore.

Now the main issue is that I cannot sell it , my family believes in giving land lots to build personal houses as a family tradition, this specific land lot has been in the family for over 50 years just preserved to be given.

I was thinking of building a 3 stories building apartments and getting the top one for myself while leasing the other two .

For more context:
- Land lot worth around $1M by market value
- lot is 500m^3 (parking for 2 cars exist in addition to it )
- I’m not American / this is not in the us .
- I come from middle class family, so my parents may be able to help but to some extent
- I’m 27 and single (just for context)

Would appreciate some advice how to deal with this and whats the best path to maximize my revenue