Roundabouts and their effect on value

[TheProfessionalMan]

Hello,

I wanted to see if anyone had an opinion about the affects of a roundabout on value.

I understand that roundabouts are supposed to cause less traffic accidents and they reduce maintenance costs of governments because there are no signal lights to maintain. I don't think appraisers should really concern themselves with that aspect of roundabouts though.

In this case, we are talking about a vacant, commercial, corner lot at a signalized intersection. Does anyone think that changing from a signalized fourway intersection to a roundabout will affect property value?

Has anyone done/seen any studies on something like that?

I'll take empirical and anecdotal evidence.

Roundabouts in my area tend to have large, plain center islands.


Thanks for your time!

 

[Michael S]

I recently appraised a proposed grocery store that was to anchor a new retail/office center. The subject was going to be on about 3 acres out of a total 10 acre rectangular site. The southwest corner of the site was the corner with SFR and an apartment complex to the north and east respectively. The subject was going to be set near the back of the site with some flagpole type sections extending out to the roadway frontage (typically type of site design for an anchor in a center like this). I didn't really consider the roundabout when I was looking at the property as opposed to a typical signalized intersection. In this case it had a circular brick retaining wall with a landscaped area in the middle, probably about 5-6' above street level so it would block visibility from traffic on the other side.

In my completely unsupported opinion I would say that a traffic signal would be superior. With a roundabout most drivers are too busy paying attention to navigating it and don't have time to notice the store on the corner. At a typical signalized intersection you'll usually have some time sitting there to look around while waiting for the light to turn green.

 

[CANative]

I was going to make my own post but saw Michael's while I was type. I agree with his anecdotal thoughts. Roundabout is probably not good for retail operations.

 

[Terrel L. Shields]

I hate the dang things but they are everywhere anymore. I saw someone lap one twice trying to exit to a casino in southeast Kansas and that suggests folks are confused by them. Once traffic reaches a certain level they are almost certainly bad. Out in less dense areas they are "OK"..I still don't like them.

 

[Mountain Man]

Ones in our area are small 1 lane and has improved traffic as well as reducing "roll through" stop sign tickets.

However, the poll question is generic it is akin to asking "if an airplane flies over the subject does the fall zone affect value?"

 

[Peter LeQuire]

There are at least several multi-lane traffic circles in DC that allow lane changes at any point. The first time I entered one of these, it took me seven laps before I escaped - I felt like pool old Charley 'neath the streets of Boston. They still require a degree of civility to navigate - civility that is not common at rush hour in our nations crapitol.

 

[JTip]

Make a friend with a ROW appraiser at your local DOT. The DOT builds them and the appraisers acquire the land. 1st hand knowledge as to the market damages, if any.

 

[residentialguy]

I hate the dang things but they are everywhere anymore.

Here's Terrel on a roundabout

 

[CigarDad]

Roundabouts allow for 20% more traffic flow than a 4-way controlled stop.

I know that going through one of those you are not only looking to see who's coming on your left but what is the person going to do on your right?

 

[Terrel L. Shields]

Again, if not densely populated intersection they are find. 10 cars wanting to change streets and they become a nightmare of fender benders.