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This study analyzed the effect of the characteristics of buildings around universities in the old city center on the revitalization of commercial districts. For this study, the area around Taepyeong Station, a representative university commercial district in the old city center, was divided into four areas and visited and surveyed stores for 30 days from August 1 to August 30, 2020, The characteristics of commercial districts based on the Likert scale were analyzed by dividing them into population, location, industry, and buildings. Apart from previous studies, the future value of the commercial district was analyzed to be low as a result of predicting the future value of the commercial district based on the business district and rent, franchise and rent, development and investment value. In order to increase the future value, the repair of aging buildings had the greatest impact, and remodeling and installation of elevators were urgently needed. In addition, it is necessary to provide a cultural space to attract demand groups, transfer start-up expertise, and provide inexpensive places. Based on this, the repair of buildings and the development of cultural contents that meet the needs of the demand group should be prioritized in order to increase the future value of the university commercial district, which is difficult due to the economic downturn after the coronavirus. Through this, it is expected that the future value of the commercial district will increase by creating a university commercial district culture where small business owners and college students harmonize together.