Brigantine nj. have a chance to buy 45 sq.ft. of dead space attached to my condo. will it be of much value?

Brigantine nj. have a chance to buy 45 sq.ft. of dead space attached to my condo. will it be of much value?
45 sq. ft. at a cost of $3500. will need an inside door also has to be finished off. Can be used as a closet, storage or small office.Condo is about 1600 sq. ft. now worth about $550,000.
Source: www.trulia.com

Is Brigantine nj overpriced?
Seems that Brigantine nj still has 2005 house pricing...700 properties for sale (population 12,500).......The realtor agreed........I'd like to make a bid on a $550,000 which has been on the market over 6 months about $80,000 lower.......Is this insulting? feel if i pay top dollars the house will never appreciate......
Source: www.trulia.com

Since the market is not very vibrant, I am considering renting out my home while I rent a home for for my
family in another city. Can anyone give me a general idea of what I might need to do?
Source: www.trulia.com