Yes location is important in commercial real estate, but and to the list use and approval, which are also important in commercial real estate for retail, office as well as industrial properties, but for different reasons.
With retail properties when considering location, demographics need to be looked at as well. If you were looking for a location to open a high end restaurant and the demographics showed few could afford to eat at your establishment, even if all other factors indicated it would be an ideal location for your intended use, keep looking.
Not only is the traffic count important in retail properties, but research needs to be done as to construction on any roadways in the area that would disrupt traffic count for a time or a proposed bypass that change traffic counts permanently.
Traffic Flow is also important to retail tenants, a doughnut shop would be more interested in being on the “AM” side of the road than the “pm” side of the road, even at the same intersection.
So we have covered location and use, Zoning ordinances are the key that opens the door to use and use governs value, if a properties zoning is not approved for your desired use, you may need to go through the process of rezoning or you may be able to apply for a special use permit ( again approval required) if the zoning allows.
Also don’t assume that an allowed use for a zoning code in one city has the same allowed uses in a neighboring city ( even if it ‘s just across the street) many of the city codes, ordinances and regulations may sound the same but they are not.
This information is for informational purpose and not intended to be investment advise, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared.