A lot is not typically a unit of measurement, it refers to a specific piece of land of any size which can be sold in an individual contract. A lot can potentially be any size.
However, in the Caribbean, a lot of land is typically referred to a parcel of land that is 5000 sq ft in horizontal (planar) area. In this way a 'plot' or parcel of land is any portion of land that is referred to and can be of any size, but a lot of land represents 5000sq ft of horizontal land space.
Horizontal land space is referenced since in areas where lands are developed along sloping hillsides, the land area bounded as though it was horizontally flat and not taken as the sloping area.
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