Who was the last person to move out of the property prior to the sale? You the owner? Or a paying tenant? If a paying tenant, then the only place you report the sale is in the Rental & Royalty Income (SCH E) section of the program.
Additionally, when reporting the sale (regardless of where it's reported) your cost basis is what you "actually paid" for the property and any property improvements. "NOT" the FMV.
