In some countries the transit companies (public or private) also become the landowners of the adjacent areas - this would be the "rail plus property" model.
In fact, the rail plus property model allows the rail operate to better capture their added value, so it applies even in "private" scenarios. The most famous example would be Tokyo.
The goal shouldn't be for the public to be able to reap direct financial benefits from the induced activity around transit hubs, the goal should be to firstly to incentivize and maintain affordable, high quality, sustainable transit, secondly to provide more and better economic opportunities.