Commercial Real Estate Value Factors You See Every Day
When you drive by a strip mall, you probably notice it in an absentminded sort of way. Maybe you get a little hungry if there is a popular restaurant you particularly like out front, or maybe you remember you had been meaning to stop by that big-box arts-and-crafts or DIY store. Every single one of those thoughts is a gold mine of information to a commercial real estate investor, and each retail outlet can tell you dozens of facts about that commercial property.
Looking at Location in a New Light
We have all heard it thousands of times: “In real estate, it’s all about location.” When you are looking at a commercial property, that is also true. However, the value of the location as a commercial investment is measured differently than when you think about residential investments. With commercial investments, it’s all about the traffic. This means the size of the population in the area, the amount of foot and automotive traffic that passes by, and the type of traffic guidance and control (traffic lights, street signs, street design, etc.) all play a huge role in the value of a property.
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Pamela J. Goodwin, Think Realty