University of Isfahan Urban Economics 2588-4867 9 1 2024 08 22 Investigating the effect of physical, environmental and economical factors on the price of commercial real estate: a case study of Samen area of Mashhad Investigating the effect of physical, environmental and economical factors on the price of commercial real estate: a case study of Samen area of Mashhad 35 54 29202 10.22108/ue.2024.140209.1280 FA Hamidreza Saremi Assistant Professor, Department of Planning, Faculty of Arts and Architecture, Tarbiat Modares University, Tehran, Iran Saeed Khandan Master in Urban planning, Imam Reza International Universityrsity, Mashhad, Iran Abbas Khandan Faculty of Economics, Kharazmi University, Tehran, Iran Journal Article 2023 12 27 The price of commercial properties is significant for their owners, real estate investors, and banks as it can represent the return on their investments. On the other hand, the increase in real estate prices has many welfare, economic, and social effects, and for this reason, it has always been the focus of policymakers and planners. The analysis of the price of commercial properties is a complex issue because they are multifaceted goods and many environmental, physical, and economic variables affect their price. By putting together a hedonic model of influencing environmental and physical variables and a series of financial variables, this paper tries to conduct a comprehensive investigation of the factors that influence the price of commercial properties. For this purpose, the Samen area of Mashhad city was chosen as the case study. This area has a significant price difference from other areas of Mashhad due to its structural, religious, and cultural characteristics, and within this area, there is a large difference in quality and price between commercial properties. In this regard, a random sample of 161 commercial properties in the Samen area of Mashhad was selected and using the ordinary least squares (OLS) regression model, the effect of each of the different environmental, physical and economic factors on the price of these properties was investigated in the year 1402. The obtained results show that the property rent, the type of property deed, the distance to the Holy Shrine, the distance to public parking and the floor of the property in shopping centers are among the most important variables affecting the price of commercial properties. The price of commercial properties is significant for their owners, real estate investors, and banks as it can represent the return on their investments. On the other hand, the increase in real estate prices has many welfare, economic, and social effects, and for this reason, it has always been the focus of policymakers and planners. The analysis of the price of commercial properties is a complex issue because they are multifaceted goods and many environmental, physical, and economic variables affect their price. By putting together a hedonic model of influencing environmental and physical variables and a series of financial variables, this paper tries to conduct a comprehensive investigation of the factors that influence the price of commercial properties. For this purpose, the Samen area of Mashhad city was chosen as the case study. This area has a significant price difference from other areas of Mashhad due to its structural, religious, and cultural characteristics, and within this area, there is a large difference in quality and price between commercial properties. In this regard, a random sample of 161 commercial properties in the Samen area of Mashhad was selected and using the ordinary least squares (OLS) regression model, the effect of each of the different environmental, physical and economic factors on the price of these properties was investigated in the year 1402. The obtained results show that the property rent, the type of property deed, the distance to the Holy Shrine, the distance to public parking and the floor of the property in shopping centers are among the most important variables affecting the price of commercial properties. https://ue.ui.ac.ir/article_29202_22b4c5d0a4831892c583195c0845a205.pdf