Commercial Development and Property Values?

[taw2896]

What does big box (Wal-Mart, Costco, Home Depot) commercial development do for residential property values in the immediate area? Would we be better off selling now before the development begins or waiting a few years? Currently, there is very little commercial development in the immediate area. Thanks for any advice.

[JAM]

Those are convienences that people desire. If they are strategically placed, and well done, then they don't seem to hurt property values, and seem to help. Over all, I think any impact is gradual. If it is right next door touching your lot line, then your property may be able to be zoned commercial, and possibly increase its value, otherwise, it will probably sink.