Getting advice about real estate development?

Sometimes commercial property listed for sale have demographic information on the listings. I'd check out loopnet.com and see what types of properties are for sale in the area and what the demographics are. I'd also look at the listings on the site of properties for lease.

Be careful in how you interpret demographics. For example, an auto parts store will be more successful in a lower income area than a higher income area. The reason being that middle class people generally pay someone to repair their car versus buying parts and doing it themselves.

I bought an office building being rented out in the middle of no where in Texas. The high school graduation rate is horrible, teen age pregnancy rates high, unemployment high, and there was no sign of potential job growth. If the tenant decided not to renew their lease, I would be in a huge bind. The demographics are great for my purposes since it is a food stamp office rented by the state of Texas.

Check into the zoning and allowed land use for the property before you buy/invest. That will give you the parameters of what you can/cannot do with the property that is allowed under the applicable zoning for that property.