You can view demographics, income, education, rental %, etc, etc - a really great tool.http://projects.nytimes.com/census/2010/map?

My plan is to subdivide the place into smaller retail spaces for half of the building and maybe use the the other half as a party space rental ( in big demand in this part of town and with demographic).

Yes, you still need to find out about the local economy, demographics, etc...but the best way I know of to really get to know a market is to drive around, call for rent signs, talk to agents, talk to tenants living in the area, talk to other landlords, talk to neighbors and so on.

If you appeal to a poor demographic, then you're shooting yourself in the foot.And by the way, appreciation can happen.

@Andrea Cole  With beachfront property in Galveston, you really have to decide what demographics and ideal guest you are looking for. 

One thing about the Temple area, while it may be lucrative in terms of an investment, the area is quite promising but it's a student demographic.  

I anticipate that this specific demographic will have its own challenges.

It talks about the demographics of the US and what's happening.  

So I know in apartments per fair housing you can't disclose demographics not the local area (such as we have mostly young adults here).

Zoning, soil, crime, schools, demographics, wetlands, and many other considerations matter as well.When I'm looking at properties I also look at value add potential.