All kinds of data and analytics are used to make smarter purchasing decisions in commercial real estate. One of the most important, especially for commercial properties that rely on roadway and foot traffic, are traffic counts.
Traffic counts can give property owners insight into the day-to-day transportation activities they can expect in their communities: Someone looking for retail property in Austin, TX, for instance, can utilize traffic counts to look at how busy versus how slow certain environments may be and use such information to estimate store traffic as a result.
Traffic counts measure the pulse of roadway traffic in and around certain areas. They can be especially useful for gauging local community activity, particularly for commercial property owners.
You can use traffic counts to discover how congested roadways in and around your property are at any given time. The numbers on roadways indicate the number of vehicles per day that use that particular road segment, helping you calculate average daily traffic (ADT) and reveal useful insights into the value of a property's location.
Traffic counts are just one of the many metrics used to decipher a property's usefulness, but they can help commercial property owners and investors predict the efficiency of a building's location.
A restaurant owner looking to relocate might use traffic counts as a means to estimate how many customers they can expect on a day-to-day basis.
They can break this data down even further into weekday traffic versus weekend traffic, lunch traffic versus dinner traffic, what traffic might look like in certain regions of town at certain times of day, and so on.
It's important to note that the Department of Transportation must be monitoring traffic in the chosen area in order to data to appear: The more rural the area is, the less likely that traffic counts will be available.
MyEListing.com is now offering free traffic counts in our property listings. Start browsing for the right commercial property today to take advantage of this new feature!