STARBUCKS AND WHOLEFOODS

[Jason Malabute]

People say you should research how far a Starbucks and Wholefoods is away from your property . What distance are we looking for here?

I am looking at a 22 unit in (Bates Hendrix ) Indianapolis the nearest Starbucks is 1.4 miles away  (6 minutes away in car) and the nearest Wholefoods is 1.9 miles away (7 minutes away in car). Is that considered good or bad in regards to the distance to the property? How far is considered "far" from a property in regards to distance from Starbucks and Wholefoods?

[Todd Dexheimer]

You still need to look into the area. Just because those businesses are located there, doesn't mean it's a great or emerging neighborhood. I have C class properties that have a Starbucks less than a 1/2 mile away. It's a C class area and likely will be C class for decades. 

I used to live in an area that has a Trader Joes, Starbucks and all kinds of other great restaurants, bars a retail. The area was great to the north and west for many miles, but in just a few blocks to both the south and east it got sketchy. 

Point is, do your homework. Look at crime maps, put boots on the ground, understand the trends that are happening, look at the cities master plan for the area.