Analyzing Property More Effectively Using STDB Birmingham, AL A Student Handbook 1 Introductions Objective Professionals can’t make intelligent real estate decisions without understanding market analysis. State-of-the-art geospatial technology provides valuable information for investors, lenders, developers, brokers and other real estate professionals. In addition to reviewing the features of our newest GIS platforms, we will examine real-world case studies of comprehensive analyses for each of the four major property types: office, industrial, residential, and retail. After completing this course, you will: Have a better understanding of the application of GIS in the commercial real estate industry More efficiently and effectively use GIS analysis in your business Feel empowered to make better commercial real estate decisions by acting upon the data that can be derived from the GIS tools Overview Business Analyst Online – Maps, Standard Reports, Comparison Reports ArcGIS Online Business Lists Aerial Imagery Flood Maps Esri Maps for Office Maps Color-Coded Maps Smart Maps Standard Reports Demographic Reports Business Reports Tapestry Reports Retail Spending Reports Expenditure Reports Traffic Reports 2 Comparison Reports Comparing Popular Variables Creating Custom Variables/Comparison Reports Business List Adding Businesses to the map Using Business lists as a prospecting tool Resources STDB Learning Center – www.stdblearningcenter.com Training Videos – Learning Center Training Videos Webinars – o Scheduled Webinars o Previously Recorded Webinars Best Practices – Report Recommendations STDB Support o www.ccimtechsupport.com o support@ccimtech.com o 469-232-2615 Birmingham Trainings page – Training Resources 3 Hands on Business Analyst Online Log into www.STDB.com, select esri BAO Select “log into Business Analyst Online” and then “Using Your STDB Login Provider Account” If you receive a pop-up telling you that the webpage is trying to close the tab select yes, this should take you to the Business Analyst Online homepage. Define Areas For Reports (Creating Study Areas) Find Location –3501 Independence Drive, Birmingham, AL, 35209 a. Name Location – Birmingham Training b. Add Rings, Drive Times, Bands – 5 Minute Drive Time Reports, Standard Reports Select Area a. Choose your 5 minute drive time study from 3501 Independence Drive, Birmingham, AL, 35209. Uncheck any of the other study areas that you may have selected. Add Reports a. Choose the following reports – Business Summary Report Demographic & Income Profile Housing Profile Retail MarketPlace Profile Tapestry Segmentation Area Profile Run Reports a. Choose Run All View Reports a. Review Reports in pop-up, or email…answer the following questions from the reports generated 4 1. If green represents a leakage and red a surplus, which segment within the Retail MarketPlace Profile denotes the largest dollar value of leakage, what about surplus? _______________________ ______________________________________________________ 2. According to the Housing Profile, what is the median home value of this market area? _____________________________________ 3. Using the Housing Profile, what is the projected total vacancy rate of housing by 2020? 4. Within The Tapestry Segmentation Area Profile, select the top tapestry segment. How many households fall into this tapestry segment nationwide? ____________What is the median age? ____ What are the top occupations for this segment? ______________ Where are some places this segment likes to shop? ____________ _____________________________________________________ 5. From the Demographic and Income Profile, what is the population of the study area?___________ Is it projected to grow between now and 2015?___________At what rate? __________Is that less or more than the projected growth of the state?________________ 6. You are an assisted living developer looking for areas with a high concentration of people over 65. How many are in this market area? (Demographic and Income Profile Report) ______________ 7. Using the Business Summary report, assess the possibility of a lunch time focused sandwich shop based on daytime population. ___________________________________________________ 8. If we were working with a medical related office moving to this location, what is the likelihood of them having an employee pool that fits their business type? (Use the NAICS code page from the Business Summary report)________________________________ ______________________________________________________ 5 Define more areas for reports Select Geography – a. Cities and Towns (Places) –Birmingham Reports, Comparison Reports Select Areas to Compare – a. Choose the 3501 Independence Drive study area b. Choose the City of Birmingham study area View Graphs or Customize Comparisons – a. Choose between the graphic/tabular comparisons of population, households, income, housing or you can customize the criteria b. When customizing your criteria, you can choose as many variables as you like c. Select the following 5 variables: - 2015 Total Population 2015 Median Household Income 2015 Population Age 25+ Bachelor’s Degree 2015 Top Tier (1A) Tapestry Households 2015 Median Age Now answer the following questions: 1.) Which study area has the higher Median Household Income?_______________________________________________ 2.) What is the number of people over the age of 25+ with a bachelor’s degree within the city of Birmingham? _____________ 3.) How many households within the 5 minute drive time of 3501 Independence Drive, Birmingham are in the Top Tier Tapestry Segment? _____________________________________________ 4.) Which study area has a higher median age?___________________ 5.) What is the 2015 population of city of Birmingham?____________ 6 Draw Polygon a. Draw polygon using the following boundaries: a. Lakeside Parkway on the west b. West Oxmoor/Shades Crest Road to the east c. Al-150 to the south b. Remove the transparency from the polygon, leaving border Create Maps from Data Color-Coded Maps Select the “Maps” tab, then click on “Create Maps from Data” then on “Color-Coded Maps.” Select “Crime” from the list of variables Select “Block Groups” from the drop down menu Hover over the map to see the actual Crime Index in the different block groups Import A File Use Three Address file on Birmingham Training Page at www.stdblearningcenter.com 1. Import File Workflow, browse select the file and upload. 2. Change symbol or upload your own 3. Create 3 mile radii rings around the 3 sites. Smart Map Search – Map up to 5 different variables simultaneously within the Business Analyst Online system. Select the “Maps” tab, then click on “Create Maps from Data” then on “Smart Maps.” On the left side of the screen select “Income” from the list of variables, map: o 2015 Median Household Income o 2015 Median Age o 2015 Population Age 25+: Bachelor’s Degree.” 7 Adjust any of the variable ranges along the sliding toolbars to reflect your preferred analysis. Median Household Income $50+ 2015 Median Age – 25-45 25% + Bachelor’s Degree Determine which site most closely fits the criteria of the customer. Clear Map. You have now created 6 analysis areas 1. 2. 3. 4. 5 minute drivetime around an address The city of Birmingham Hand-drawn polygon Imported file which was created by mapping 3 mile radii studies around each address uploaded (3 sites) Business and Facilities Search – Search for Businesses in an area of relevance to you using the Business and Facilities Search. Clear map Create a competition map in the state of Alabama for Home Depot and Lowes DataBaseUSA – Search for Businesses by name, type or location Clear Home Depot and Lowes Search in Alabama by NAICS codes for Home Centers 8