Thoughts on Commercial Mixed Use in 2021?

[David Haynes]

The economy is doing much better than it was last year at this time. All of us have seen local small businesses close doors and move on. 

Buying a commercial mixed-use space multi didn't make too much sense in 2020 unless you were willing to wait out the tough times, but how about now?

I guess the risk of commercial tenants not paying is almost equal to residential tenants not paying. So maybe it doesn't make a difference.

I'm asking because I'm selling a few mixed-use multis on a prominent road outside Philadelphia. I feel like the road will sell itself and should attract good quality, commercial tenants. But I'm wondering what the overall sentiment towards it is.

If you had to decide between either a mixed-use triplex or a straight residential triplex, which would you choose? And why?

Also which northeast cities do you see small businesses succeeding the most in? (Philly, NYC, Wilmington, Washington, Baltimore, Boston, etc.)