does mixed use alter value?

Profile picture for 401celeste
mixed-used: commercial and residential 2 apt and 2 retail spaces
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July 06 2007
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Answers (1)

Profile picture for Ian Phipps
yes.  commercially zoned properties bring in income; residential homes provide housing, a place to sleep.  wickeden street has traditionally been a reasonably strong commercial marketplace on the east side.  rental   value is also strong there; howe  ver, an apartment on a more pri  vate street would probably represent a stronger rental   value.  
to figure out   value, and whether it's worth it,  I would look for today's price per square foot (solds on east side, wickeden even better, over the last month) for both residential and commercial property.  To find comps exactly alike, mixed use buildings, would be ideal, but probably alot to ask for in such a niche area.  Also the type of commercial structure differs.  Do the retail stores ha
ve shelves and fixtures?  what will you use it for?

value is perceived differently.  it depends on what you the buyer are looking for and want/need.  Is it investment for rental incomes?  Is it for home business?  what are you looking for?  how much would you pay?


i realize this answer is late.  but it's the only one in the neighborhood, and i'm local.  i love wickeden street.



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April 07 2009
 

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