These factors you should judge for yourself or with the assistance of an agent. 

Visit the site during rush hours and during quieter times.  Is there a lot of vehicular traffic ?  Are there persons visiting nearby businesses that must walk past the location you are considering?  Is this site easily seen or identified from the road?  Are there competitors nearby? Is there easy access and ample parking?  If relevant, is there public transportation nearby? 

Is the property in good condition or will it be expensive to modify and repair for your purposes?  Are there signs of positive economic growth in the area, such as new building construction and new businesses?  Is this growth moving toward the location or away from it?   

Looking at the newspaper want ads, can you gauge the cost of labor for your kind of business?

 

These factors you can judge with the assistance of an attorney 

 

By all means do not enter into a lease without the help of a competent attorney.  He/she can explain the advantages of a short term lease and the best terms for renewability.  The lease should spell out who is responsible for what [such as building repairs, taxes, etc.]  There are many variables that must be considered and a bad lease can undo a potentially successful business and even cause personal financial ruin. 

 

 

However, before you do all of the above, let us do the hardest part for you . . . 

extracting and analyzing the relevant demographic data