Ok, another deal I am working on. Sorry if Im yapping about non-sense but these are actual events I am going thru.
14000 sf commcerial property in PRIME location of a main suburb.
I have the property under contract with seller for 995k.
I have 3 investors lined up who are interested.
Current leases bring in 4000.00/mo with a new tenant coming in taking up 1600sf for 2200.00/mo. There is still an 800sf space and 7000sf upstairs still vacant.
One investor came and looked at it and sounds very intersted at my $1.2mill asking price. I told him it was negotiable and he said he will get back to me in 1 week after he runs numbers.
My question is, IS there any advice or tips on a deal like this? That way I can prepare for the other 2 when I show.
Am I asking too much? The property has rental potential once building is updated. I mean it is PRIME location in this city. This city is a main suburb city for this area with little suburbs around it.
Thanks all