How does commercial development affect my home value?

I have some commercial development going on at the main crossroads about 1/3-1/2 mile from my house. There’s a Lowe’s going up, supposedly a movie theater, and probably some restaurants and shops. In general, does this sort of development near one’s house increase the value, decrease it, or have no effect? I know that for the most part, more houses = good; apartments = bad, but I have no idea what commercial development does.

There are 4000 vacant malls in the USA…

Hey, why not ask the local real estate people about your property value? They should have an idea. Quite a lot of variables, so post back what they say.

I am a commercial real estate agent specializing in large industrial and retail development. The specific answer to you question is “it depends”… on
For commercial development opportunity:

Your inherent zoning and zoning options
Your surrounding neighborhood and it’s demographics
Availability of municipal services
Highway access and related egress ingress options
How large your lot is and it’s topography
Direction of commercial growth
etc etc etc

For residental impact:

For the most part unless your home and immediate neighborhood is going to be noticably (negatively) impacted by traffic, esthetic commercial blight etc etc the effect will be relatively minor. You may lose a residential sale opportunity or two (if your home was being marketed) because some people like more peaceful surroundings separated more widely from development.

In an earlier life, I was a real estate appraiser, and I can unequivocally say that your property values will definitely rise. Or fall. Or remain unchanged.

The real answer is that it could be any one of the three. Astro is absolutely right, and handy’s advice (talk to a local real estate expert) is probably the best, cheapest, and easiest way to get your answers.