If a home is zoned commercial / residential, is it worth more?

[Melissa M.]

Good Evening Bigger Pockets!!

I have a question regarding a wholesale deal.  I got a phone call on a property that is currently tenant occupied. The owner of course, feels it is worth much more then what I can get on  my comps, but only because it is zoned commercial and residential.  So my question is, how do I figure out what it is worth if we tried to market it as commercial?  I have a feeling that the answer is not going to be a simple one LOL. 

The owner wants to break even on the mortgage, so she owes $120,000 and my comps are telling me its really only worth $160,000 so even with those numbers, I know its not much of a wholesale deal, especially since it needs about $15-$20,000 in repairs to make it pretty again.  So really, I am just curious, when people say to me, but its zone commercial so its worth more, is this true?

Thank you in advance for any help I can get, I love Biggerpockets because there are so many knowledgeable investors on here!!