Is there an advantage to a property being on a street corner?
I can see retail could benefit from this and so could mixed use but would it make sense for exclusively multi family to be on a street corner
[{"id": "inciguj", "text": "I suppose if it's on the intersection of two big roads, then that'd be a lot more foot traffic and drivebys for potential renters? Visibility is usually a plus.", "replies": [{"id": "inecjnt", "text": "If it\u2019s a corner lot you might have to develop it to different design standards. I think I saw, on the Main Streets of Halsey project that corner lots all had to have a significant visual element, which costs more and restricts your useage.", "replies": [], "depth": 2}], "depth": 1}, {"id": "incjh7w", "text": "Multi family is transit and location oriented but not to the extent of retail. Retail can have dramatically different success rates and business just being a block or two apart from each other. Multifamily on the other hand is really driven from the factors of cost and nearby quality of availability. The more locationally functional a building is, the more valuable it is to a tenant. If I can get groceries, food, entertainment, medicine, and more within a 10 minute walk versus drive that will play a huge factor in the quality of the building. However, being a block or two away from Main St versus being on Main St will have little affect on my rent and revenue versus retail which may do considerably less or more business depending. If I were to build a mixed-use building I would either decide to lease to retail tenants that would have no need for ground floor passerby aka a dentist office or something that would benefit highly like a coffee shop depending on where I built.", "replies": [], "depth": 1}, {"id": "incum9m", "text": "More design options for redevelopment probably.\n\nMaybe easier car access if it is a lighted intersection versus mid block and having center median? \n\nMore visibility for marketing too.", "replies": [], "depth": 1}, {"id": "incv8sg", "text": "I've extracted retail corner premiums of 20% to 100%.  For a multi-acre multi-family complex,  two different entrances are beneficial, but unlikely to add value in the suburbs. For smaller multi-family, heavy traffic noise can -- but not always -- reduce value by 20%.", "replies": [], "depth": 1}, {"id": "ind80sn", "text": "It's dependent on your area, size of your lot, and your use.  For Retail it's typically a big plus if it's two major streets you have twice as many people driving by and people are stopping right in front of your store instead of flying by.  If it's a tiny lot with an insignificant cross street it might not be as big of an advantage because in some cases you are limited on access close to intersections with traffic lights.\n\nMulti-Family in some cases might be ok depending on the type of area but the noise can be a problem.  If you are more rural / suburb people probably wont be okay with that.  If you are in a urban city people might be ok with it.", "replies": [], "depth": 1}, {"id": "ind84q2", "text": "Twice the street parking!", "replies": [], "depth": 1}, {"id": "indnk3j", "text": "In NYC a corner multifamily building will have more windows and therefore more legal rooms per apartment, allowing for a higher rent per unit. A mid block building will only have windows in the front, back, and sometimes in shaft way, meanwhile a corner building will have windows in front, back, and side.\n\nEdit: it\u2019s loud everywhere here, so the noise factor isn\u2019t really an issue.", "replies": [], "depth": 1}, {"id": "indyesg", "text": "Important to note if cars are driving up to you or past you ie is the drive up on the right side of them (not visible) vs left side (visible). Learned this when I worked office.", "replies": [], "depth": 1}, {"id": "inehfnt", "text": "Lot of redevelopment are now mix-use woth retail in front and residentail behind or retail ground level with multi-family above.", "replies": [], "depth": 1}, {"id": "ineovhe", "text": "Better apartment layouts and more light.", "replies": [], "depth": 1}]