Laserfiche WebLink
Economic Analysis 26 <br />Commercial Land Site - SWC of Middle Street and Market Place Drive <br />Characteristics <br /> Development in the subject’s immediate area is primarily commercial/retail in nature, <br />and is supported by the dense residential land uses in the surrounding area. <br /> The subject is located just south across Market Place Drive from The Market Place <br />Center, a 97,000 square foot strip center anchored by Quality Furniture Rental and <br />Dollar Tree. <br /> The surrounding properties have average maintenance levels and include buildings <br />constructed from the 1950’s to the early 2000’s. <br />Fundamental Real Estate Cycle <br />The surrounding area is considered to be within the stable stage of its real estate cycle. The area <br />is largely built-up, with most new development coming through redevelopment. <br />New Development <br /> An 1,800 square foot freestanding retail property now occupied by Caribou Coffee was <br />constructed in 2019 approximately one mile east of the subject. <br /> A 32 unit memory care & assisted living facility was constructed at 2740 Rice Street <br />in 2018. <br />Access <br />Primary Access <br />The subject area has very good freeway access. It is served by Interstate 35E (located <br />approximately one mile east), Highway 36 (1.5 miles south), and I-694 (2 miles north). <br />Major Thoroughfares <br />Rice Street (north/south), Little Canada Road E, and County Road C (east/west) are the major <br />collectors providing access to the subject area. <br />Transportation <br />The primary mode of transportation to and from the subject is automobile. <br />