This study addresses factors that affect the outcomes of adaptive reuse of empty religious buildings and schools in the United States. Literature-driven observable factors expected to have an impact on project outcomes include both supply side and demand side factors (building characteristics, neighborhood demographics, micro-location characteristics, macro-economic factors, etc.) are used as explanatory variables. This study uses the multinomial logit model with the outcome of adaptive reuse projects (e.g., apartments, condominiums, retail, office and cultural uses) as the dependent variable. This study has found that many supply side and demand side factors are associated with certain outcomes. It is expected that the results of this study can offer valuable basic information about associations between factors and development outcomes for adaptive reuse.