Strip Mall investing advice needed

Hi I am new to investing in Strip Malls, i need help from somebody as to how to go about determining the right price to pay for a locaiton. what methods and steps should i take, what factors to consider.
Currently i am looking at a property that has 10K sq/ft with 4 tenants, 1 vacant spot of 1k sqft, 6th location is a business owned by the current landlord business he is selling for a seperate price not included $75sqft that he is asking for the location. This strip shopping centerr is in a small town. location is right off a major highway. Pitza hutt is a main anchor store that has several year left on the lease. all other tenants are on the month to month basis. Property is 6 years old with metal buildout.
county appraisal is 370k only.
can someone please advice me on to what else should i need to know…


If Pizza Hut lease is up and not renew …what happen to your cash flow? Just a thoght. Can you attract more anchor store?

If you can renew pizza hut, get the other tenants on good lease contracts and fill your space you could flip it for a nice profit.

can someone please advice me on to what else should i need to know…

There is a ton more you should know, like the demographics of the area. And what businesses would want to sell to those demographics? Is there a need for those businesses in your area or is there already a lot of competition?

There is a LOT of science that goes into retail analysis. The best guy I know for that is Byron Smith CCIM. He teaches an excellent one day class on retail. Search google for him and he will let you know when he does his class again. If I were to do a retail deal I would go to him for advice.