Urban low income high population retail property

[Sam B.]

Hi Guys

I have a deal I am wrestling with, if I should put in an offer on or not. I have a 20k sq ft deal which is currently for sale in Philadelphia. The area is densely populated with 265k ppl in a 3 mile radius, and is lower income in demographic. The center was built in 1990, is in good shape, and is anchored by a Family Dollar. My only concern is that its been robbed I count 4 times in the past 6 yrs.. ie a rougher neighborhood. It’s fully stabilized, so not value add.

Should I stay away from low income/high density areas like this? How should I think about returns in lower class neighborhoods? What about pricing on an asset like this?