New property? First step—get in your car and hit the streets. I ask all my rookies to do this, and you should too. Why? Because no market study is complete without YOUR eyes on the ground.
Here’s how to map your market like a pro:
✅ Start with your property’s flyer. Good ones have a Google map built in.
✅ No flyer? No problem. Google the address. Boom—a map pops up with nearby shopping centers, regional malls, and big box power players. Make a note of them.
Then drive. Safely, of course! And as you do, observe:
- What other retail is nearby? Strip centers? Grocery-anchored centers? Freestanding buildings?
- How do the properties look? Clean? Dated? Packed parking lots or ghost towns?
- Vacancies—how big are they? What left? What’s coming?
- Who’s the competition? Who’s the leasing agent? (Yes, snap a photo of the sign!)
- Any new construction? Roadwork? Cranes on the horizon?
You’re not just collecting data. You’re creating a full picture of the health, vibrancy, and opportunities in your market.
Pro tip: Cast a wide net. You can always narrow it down later. But knowledge of the entire trade area will make you sharper—and more valuable—than the agent who only knows what’s happening on their site.
So what are you waiting for? Go map your market. Your deals depend on it!