Run Down Street, Pot Shop, Hot Market - Opportunity or Stay Away?

[Katie Bond]

I'm looking at a property on a run down block with a mix of commercial and residential properties (the property across the street is really run down but many of the others aren't bad at all). I'm trying to figure out if the street is going to get better or worse in the next 5-10 years. Anyone with experience buying in less than perfect neighborhoods have any tips for how to judge whether a property will be a good investment or not? What should I be looking for?

Also, Colorado folks, any ideas on whether a pot dispensary is good, bad or neutral in terms of property values? Would you want to invest across the street from one? Many thanks!