Storefronts and Outdoor Strip Malls
(Average National Rent: $16.99 per square foot)
Storefronts and strip mall stores are usually small, adjoining shops located in a concentrated retail shopping area with exterior entrances. Storefronts often cater to customers who reside nearby and who pass the area on their daily commute. “A [storefront] or small strip center is much cheaper than being in an [indoor] mall, but you also don’t get as much exposure,” says Kazuko Morgan, executive vice president for Cushman & Wakefield, a global real estate brokerage company.
However, if you sell high-demand, niche items available only through your store, then upscale, discerning shoppers will seek you out no matter your locality or price point. Otherwise, customer turnout will be dependent on foot traffic, which might decrease depending on the weather. Lack of parking might also limit the numbers of drive by customers.