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does the store have one or two drive- through windows available? If two, then that is a good indication that there is a very solid flow of traffic through the area. That is a positive indicator about the value of the asset. If one, then that is not necessarily a negative sign, but if that one is boarded up, you might want to do a little more investigating! DOES THE PROPERTYHOUSE ADESTINATION LOCATION? A commercial property with a desti- nation tenant, a store or venue to which people deliberately drive rather than simply swinging through as they pass by, is definitely a solid bet for a commercial
investment. Examples of destination tenants include gyms, grocery stores, arts-and-craft stores, and other specialty stores. Drive-by stores, on the other hand, might include quick-service sandwich shops or clothing retailers who do not offer an exclusive brand. PRACTICE LIKEAPRO As you drive around your local area, start paying attention to how you interact with the commercial real estate around you. Do you usually go to the nail salon on purpose, or is that a drive-by for you? How about the dry cleaner? For you, is a grocery stop pre-planned or spur-of- the-moment? Always, monitor how easy
it was to make a stop at a commercial location and at what point (I guarantee this happens) you gave up trying to go to that store because things got too difficult or time-consuming. You might find that some of your habits are surprising, and all of these behaviors will give you clues about how valuable any given location in town might be. •
Pamela J. Goodwin is the founder and CEO of Goodwin Commercial, a commercial real estate firmspecializing in retail/restaurant development, brokerage and consulting
in Dallas, Texas, and aThink Realty coach. Learnmore about her commercial real estate courses at ThinkRealty. com/Pamela or reach her at firstname.lastname@example.org.
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