This is a How-To article for commercial real estate (CRE) investors and developers who want to use walkability scores to make smarter site selection decisions. We explain the metrics, benefits, tools, and real-world applications.
Why Walkability Matters in Commercial Real Estate
Walkability has become a key value driver in commercial real estate. Properties located in highly walkable areas often command higher rents, lower vacancy rates, and greater tenant satisfaction. According to a Brookings Institute report, walkable urban places generate up to 75% more revenue per square foot than auto-dependent locations.
For office, retail, and mixed-use developments, high walkability translates into increased foot traffic, better tenant retention, and stronger NOI.
What Is a Walk Score?
Walk Score is a proprietary metric developed by Redfin that measures how walkable an address is based on proximity to amenities like:
- Grocery stores
- Restaurants
- Parks
- Schools
- Public transit
Scores range from 0 to 100:
- 90–100: Walker’s Paradise
- 70–89: Very Walkable
- 50–69: Somewhat Walkable
- 0–49: Car-Dependent
You can look up scores using WalkScore.com, which also provides Transit and Bike Scores for broader urban planning insights.
How to Use Walkability Data for CRE Site Selection
Here’s how you can incorporate walkability scores into your commercial property evaluation process:
1. Evaluate Demographic Alignment
High walkability is particularly attractive to:
- Urban professionals
- Millennials and Gen Z renters
- Hospitality, healthcare, and service-oriented tenants
If your target tenant profile prefers dense, walkable neighborhoods, prioritize sites with scores above 70.
2. Overlay Walk Scores with GIS and Market Data
Combine walkability data with tools like CoStar, ESRI, or Placer.ai to analyze:
- Population density
- Retail voids
- Traffic patterns
- Transit access
This creates a more complete picture of location value and tenant demand.
3. Understand Zoning and Infrastructure
A site with a high walk score but poor zoning or lack of sidewalks may not meet tenant expectations. Visit the site or use tools like Google Street View to validate physical infrastructure.
Case Study: Walk Score Boosted a Mixed-Use Development ROI
In Philadelphia, a developer was considering two urban infill sites. One had a Walk Score of 94; the other scored 67. After layering market data and projected foot traffic, they chose the 94-score site.
Results included:
- 19% higher retail rents
- 22% faster lease-up for residential units
- Greater appeal to coworking and fitness tenants
Walkability translated directly into higher demand and better lease terms.
Where to Learn More About Site Selection
For more guidance on choosing high-performing locations, read our article on How to Choose the Right Location for Your Commercial Property.
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- Category: Site Selection & Development
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