I recently discovered that a commercially zoned lot adjacent to my
property was purchased, and fairly substantial plans are underway. 
The intend to build an Aldis, a strip mall, and a bank within a fairly
small area.  The Aldis is going to be right up against my property
line, only about 15 ft away.  My concern is the effect on my property
value.  I've inquired with a couple of RE agents, and was told
basically that they cannot predict the effect, but that it will likely
be at least somewhat harmful.

I'd like to see some #s.  Specifically, I'm looking for a general
study of the effect of commercial development adjacent to RE lots on
the value of those lots.  The study would look at developments of
essentially identical houses that had been increasing at a similar
rate.  I'd then like to see how the appreciation differs after a
commercial development was introduced neighboring one subset of those
houses.

I'd prefer a general study, including at least 3 communities in the
study.  If all you can find is a case study, I may consider that if
you can give me some detail prior to answering.

Thanks!

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Clarification of Question by affeking-ga on 15 Nov 2005 09:57 PST

The second sentence of the second paragraph should read:
"Specifically, I'm looking for a general study of the effect of
commercial development adjacent to residential lots on the value of
the residential property."

If possible, I'd like the commercial development to be similar to
those mentioned in my post (grocery store, strip mall)