Looking At A Deal Need Input....
Looking at a commercial lot.
360K asking price
Dollar General 2950/mo. 2 years left on a 5 yr. lease with a 3 yr option.
6K retail space.
Boat business on other half would be a lease back for 850/mo. 1yr with a 1 yr. option.
Owner responsible for structual repairs.
Taxes 5K
Tennants pay all utilities and insurance on property.
80K down
What would be an appropriate offer and any other ideas on financing.
Owner is preatty flexible met face to face but is motivated.
Thanks for your ideas.
I dont think you will be able to leverage in your favor on that deal. The lease is a little on the short side. You can get decent financing on 10yr leases with them but I dont know about 5. Is it an absolute nnn deal, can you get gross sales figures?