This study examines commercial gentrification, focusing on areas where commercial gentrification occurred or was expected to occur in Seoul, Korea. To identify the general phases of commercial gentrification, we used data collected from January 2015 to January 2019 by cluster analysis. Cluster analysis was conducted with a ratio of terms including “birth”, “replacement”, and “vacancy”, and characteristics including the “homogenization index”, “chain stores”, “vitalization”, and the “front width of stores” were applied. The contributions of this study are as follows. Three clusters were formed and supplemented according to differing types of industry change. Cluster 1 represents a stage where commerce has begun to penetrate residential areas, and it can be seen that gentrification has just started. Cluster 2 is more commercialized than Cluster 1, but characteristics remain in the vicinity of neighborhood commercial facilities. Cluster 3 describes a phase of full vitalization, characterized by franchise stores. The implications of this study are as follows. Commercial gentrification is proven to have distinctly different stages of commercial characterization that can be interpreted and observed sequentially, thereby requiring a differentiated approach to commercial gentrification by phase.