Living Above a Store: The Pros and Cons
Living above a storefront has its advantages—you can wake up and stroll downstairs to your closest coffee shop, or you could even make a quick stop for much-needed supplies. Known as “vertical villages,” mixed-use developments combine two or more uses—typically residential and commercial—into one space. And many of these mixed-use communities feature restaurants, bars, and shops on the ground floor, with hundreds of apartments above.
Innovative Developments
In 2021, an impressive 43,700 apartments were built in mixed-use communities, compared to just 10,000 apartments in 2012, according to a report from RentCafe. Even big box stores are getting in on the mixed-use trend: In September, Los Angeles broke ground for a new Costco store which will feature 800 rental apartments above.
Pros and Cons
There are plenty of things to do right outside your doorstep, says Doug Perry, a strategic financing advisor at HouseCashin. “That is also the worst thing about this type of property. When you want to have a quiet night at home, you are still right in the heart of activity.” Perry also notes that if the property in question is a condo, rather than a rented apartment, he warns that some may have a hard time selling, especially for a price they’d like.
Ryan Bullock, a real estate advisor at Real Estate Bees, warns that moving into newer construction buildings may not have the sound-proofing tenants desire. “Many developers rush to put up these new mixed-use buildings so they can hurry up and get them rented out,” he says. “If you live above a noisy store, that could cause issues in your everyday life.”
Convenience and Perks
However, living above a store or coffee shop can have its perks, especially in the mornings. In another TikTok video, apartment dweller @zoesparks23 shows how convenient it is to live above a cafe. In the clip, she shares a video walking out her door, around the corner, and into a cute coffee shop. In the caption, she wrote, “Life is good sometimes.” Another user commented to highlight another perk of living above a coffee shop, stating that when they lived above one, they “never had to buy wifi.”
Potential Drawbacks
However, living above a business can also get expensive. For example, one woman, @_stephanievaldez, posted online about living above a Target. In the video, she walks into her hallway and takes an elevator down to a Target store. In the caption, she calls this easy access, “One of the best perks living in my apartment,” but others expressed concerns in the comments section. “You don’t even have to go outside?! I’d be so broke,” one TikTok user wrote.
Conclusion
While living above a storefront can have its advantages, it’s essential to consider the potential drawbacks, such as noise, odors, and the potential for overspending. As the demand for mixed-use developments continues to grow, it’s crucial to weigh the pros and cons of this type of living arrangement.
Frequently Asked Questions
Q: What is a mixed-use development?
A: A mixed-use development is a type of urban planning that combines two or more uses—typically residential and commercial—into one space.
Q: What are some benefits of living above a store or coffee shop?
A: Some benefits include easy access, convenience, and the potential for socializing with neighbors.
Q: What are some drawbacks of living above a business?
A: Some drawbacks include noise, odors, and the potential for overspending.
Q: Are mixed-use developments becoming more popular?
A: Yes, according to a report from RentCafe, 43,700 apartments were built in mixed-use communities in 2021, compared to just 10,000 apartments in 2012.
