On top of being super interested in real estate, I love restaurants and retail businesses just as much.

That usually shuts them up. 

However, they are building new apartments along with retail and restaurants to the lumber district area, so not sure how close you are to that, but that could be tough competition in another year when they're complete.  

My main question is whether a beachfront condo is more likely to rent when vacationers can walk to restaurants and other attractions but where it is very busy, traffic, and tourists - or rent a condo in a quiet, neighboring beachfront that is more residential but you need to drive 3 - 4 miles for entertainment and attractions.  

In response to "current profession" I am a career restaurant server with some management as well.

This will be my first commercial property, and I don't have much experience in commercial so any guidance/help would be much appreciated.Property is a 3 unit commercial building with a 2 restaurants and 1 laundry mat.Here are the financials:Sale Price of the property: $450kRent revenue: $54,600Mortgage & Interest at $5% interest rate for 20 yrs: $28,992Annual taxes: $7,053Annual insurance: $1500Annual maintenance: $1,000Annual management/repairs: $5460Net Income: $10,595Am i missing any other major expenses?  

She would have stayed there if the city hadn't declared it uninhabitable and shut it down.

For instance in my area school district is a big driver of being a hot area, but a few miles south in Philadelphia the college campuses or the restaurants and night life drive home value

I manage a small restaurant so I am very familiar with subcontracting work and don't mind a little elbow grease. 

it's like going to a restaurant and not ordering food.