How much more valuable is a hard corner than land with road frontage on just one side?
Hi, all. I hope it's ok to ask this here. Just as a rule of thumb, how much more valuable is a commercial corner lot with road frontage on 2 sides as well as curb cuts on both of those sides than the same size lot with road frontage and a curb cut only on one side? Both lots are in the same area.

Is there a rule of thumb for this? Is the corner lot worth 50% more, 100% more, etc.?
[{"id": "i3vr7n4", "text": "that\u2019s just one factor to consider in the UR. there\u2019s a bunch of other stuff that may or may not outweigh it. visibility, traffic, layout, main on main, etc. you can\u2019t just say it\u2019s a 20% rule and call it a day. Being on a hard corner generally makes it more attractive, but if all of a sudden you somehow have crap parking ratio for the hard corner prop. and a fantastic ratio for the storefront, that can have a stronger impact on the value depending on the asset type, albeit (more) parking is more often than not a good thing vs having less. Hopefully that answers your question.\n\nre: area, e.g.: sometimes even a property with a better anchor can result in a stronger investment than one in a better area but poor tenant synergy, and that could be a result of better leasing, real estate, etc.", "replies": [{"id": "i3wb7yf", "text": "Thank you for your reply. I know there are a lot of unknowns. The hard corner I'm asking about does not have a traffic light but is along 2 busy roads, the vertically running road being a main road through town: https://imgur.com/a/a32ritf\n\nLet's say this land would be worth $1 million if it was NOT a corner lot but just had road frontage along the vertically-running main road (busier). Would you be able to give a very rough idea of what the pictured corner lot might be worth if you were to list it for sale?", "replies": [{"id": "i3wv6xg", "text": "no, because I don\u2019t have the full story yet. I would need to comp out the area, more so general land values to begin with. Then simultaneously figure out what the highest and best use is for the hard corner property considering setbacks, zoning, etc. Get traffic counts like that other guy said. There\u2019s a median it looks like so that\u2019s a slight negative, helps if u-turns/left turns into the street/property helps. Then take into account your market as far as rents, cap rates, costs of construction, etc. \n\nThese are just a few of the basic things you need to consider in your evaluation. \n\nagain, hope this throws you in the right direction. Goodluck!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i3wbpmk", "text": "Agreed that there are many factors that go into this.\n\nTraffic counts at each location will play into it. If the single side frontage is on a main thoroughfare with 10x the amount of traffic, that corner lot may not be as valuable.\n\nAlso is it easy for people to make a left turn into the single frontage location or is there a median where someone must go past and make a u-turn? If the latter, it will devalue the single frontage location.\n\nZoning will also play into it. What uses are allowed? Can you get a drive-thru on that corner lot?", "replies": [{"id": "i3wcbuu", "text": "Thank you for your input. I appreciate your expertise on this. I couldn't see any comparable sales for a lot like this.\n\nI don't have a traffic count. The hard corner I'm asking about does not have a traffic light but is along 2 busy roads, the vertically running road being a main road through town: https://imgur.com/a/a32ritf\n\nLet's say this land would be worth $1 million if it was NOT a corner lot but just had road frontage along the vertically-running main road (busier). Would you be able to give a very rough idea of what the pictured corner lot might be worth if you were to list it for sale?\n\nZoning is general commercial.", "replies": [{"id": "i3wmvme", "text": "At the end of the day, there isn\u2019t a right or a wrong answer. The corner lot\u2019s premium is worth what it is to the end buyer. List out all of the benefits on the marketing material, determine the added value of the location, and charge &amp; negotiate accordingly.", "replies": [], "depth": 3}, {"id": "i3wqkif", "text": "I used to look up traffic counts on the state\u2019s department of transportation website.\n\nFor the zoning, call the zoning department and get what the specific zoning code designation allows. There can be a lot of specifics as you drill down further from the general umbrella.\n\nWithout comps I really don\u2019t know what the markup would be. If there is nothing to comp against in close proximity I\u2019d go to a neighboring market and look what similar hard corner vs single frontage premiums are there and apply that same methodology.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i3y5j38", "text": "The rule of thumb for adjustments is to derive them from recent market data.  In my neck of the woods, we've observed that corner lots are more valuable in some use scenarios and not others.  Our industrial land market doesn't appear to care much about corner lots these days, but around 10 years ago there was a clear preference for them.", "replies": [], "depth": 1}, {"id": "i3ygphv", "text": "Thank you for your insights and thank you for being patient with my ignorance of this.\n\nWhat if comps showed that this land would be worth $1 million if it was NOT a corner lot but just had road frontage along the vertically-running main road (busier). The other land around it is residential so it's highest and best use would probably be retail or office, not industrial.\n\nThe actual land is a corner lot with road frontage and curb cuts on two sides as shown here:\n\nhttps://imgur.com/a/a32ritf\n\nSince you don't have comps, I gave that assumed value above of $1 million for a non-corner lot. What adjustments would you apply to a corner lot like this if you were to list it for sale? Just a ballpark estimate of course.\n\nZoning is general commercial so it can be anything from retail store to warehouse to self-storage.", "replies": [], "depth": 1}]