Specialty Shops Raise Home Values

A recent study of home values in Portland finds that close proximity to such amenities as specialty grocery stores and movie theaters can raise values as much as 20%.
October 1, 2008, 8am PDT | Nate Berg
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"Everything else being equal – same home, same neighborhood – if a specialty grocery store sits within a block and a half of your house, your property values should be 20 percent higher than if you don't have the store nearby.

And specialty groceries aren't even No. 1 on the list of shops that will elevate the value of nearby homes. That distinction belongs to small neighborhood movie theaters, according to the Johnson Gardner report.

All things being equal, a small movie theater can raise property values somewhere between 14 and 30 percent, according to the study. Wine bars and garden shops also provide a boon to homeowners. Bookstores, fitness centers and bike shops do the same, to a lesser extent."

Thanks to Creative Class Exchange

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Published on Thursday, September 25, 2008 in The Portland Tribune
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