Homes (residences) located on high traffic streets are not as desirable as the identical home on a low traffic. quite, tree-lined, brick street. Their value has been adjusted accordingly. But you already know that.
A new grocery in a location that has no grocery creates a 'Walkable Home' region that will add value and a safety-net for those buying in that region. (a potentioal of $16,000 each and every year) This is a major asset. Those resistant to change will not ackknowledge this, but you know that already also.
A home already located on a busy street, and the street gets busier, has already been valued properly. In that situaion, only the 'special' buyer would be interested. When there is a limited buyer pool, the house is priced accordingly. You know that also.
A study is done EVERYTIME a real estate professional prepares a home for sale or presents a purchase offer on such a home. We do compare and adjust for high traffic and residental streets. There most deffinately is a difference, but you know that. HOWEVER, the differance is NEVER determined by the 'Brand" occupying the adjacent space (use does such a bar, liqour store or 24 hr carry-out)
Publix, Home Depot, Lowes, Walmart, shcool bus depots, are the traffic generators for which you must have concern.
So the answer is YES.
And the result is, the adjustment has already occured.
Now Dee, your problem becomes proving the entire neighborhood will be effected. (FACT: IT WILL NOT.) The adjacent homes (or land) may increae in value due to greater commercial potential.(increased traffic (FACT). Only the real estate sharing a boundry with the mentioned store are relevent to a study. The folks at Dollar General DID complete a study that revealed a significant population exits in your area that will benefit from the presence of this store. Is that a fact you are willing to hear? The facts are the facts don't support the direction your emotions are carrying you. You already know that. It really does not matter what is shared here, you going to the council meeeting to protest ...RIGHT?
Sorry, but based on the facts you shared in your question, the facts will not support your position, but you already know that.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL