Items like population growth, rent growth, income growth, job growth and job diversification can help in the early stages of due diligence.

It would reduce the diversification in my portfolio by a lot. 

Additionally, since a tenants in common ownership arrangement allows each person to maintain a different fractional interest in the property, the amount you can expect to invest may be flexible, depending on the size of your ownership stake.Opens up the potential for diversification and safety Given that the barrier to investment is lower with a TIC property, that offers many investors the chance to diversify their portfolios and invest in multiple properties.

Continued Diversification into larger multi-family deals.

With a retail center you get diversification over 1 single tenant to service the mortgage plus typically maybe 1 to 2% more cash on cash from the going in down payment.8.500 sq ft is small.

I'll disclose I own rentals in 3 different markets for diversification, and am breaking ground on a 6 bed pool cabin this March in Pigeon Forge.

Depending on your strategy and goals some good metrics can be; population growth, rent growth, income growth, job growth and job diversification.

@Pedro Feliciano, Additional cash flow from selling a larger property and buying multiple smaller properties is called a diversification exchange. 

I absolutely recommend diversification.

Upon tenant turn-over, there is the opportunity to further divide the rentable spaces to accommodate up to a total of 8 retail tenants, increasing tenant diversification.