Start with the trade area
Define the realistic customer radius, then compare population, income, commute, competitors, and nearby anchors. A retail site should be evaluated by how customers actually reach it.
Check access and visibility
Visibility, signage, parking, crosswalks, traffic direction, delivery access, and entrance placement can change the value of a storefront more than neighborhood reputation.
Tie the lease to realistic demand
Estimate how many customers or orders the site must produce to justify rent and build-out. If that number requires best-case assumptions, keep negotiating or keep looking.