Wholesaling a commercial property

[Quinton Hagins]

So i recently came across a property in downtown Lawrenceville, Ga. The owner posted a FSBO and i contacted him asking if he was willing to sell. i am completely unsure on how to run comps on this property. its strictly commercial, it used to be a barbershop. how would i go about not losing this lead and making a solid but fair offer in which i can wholesale it and still allow the buyer to make a profit? Thanks in advance for any help.

[Ellis San Jose]

Commercial comps are heavily based on net operating income & capitalization rate.   Is it vacant?

[Quinton Hagins]

It is currently vacant. I talked to the owner last evening and he wants 400k for it. To me it just seems entirely too much. Its zoned AB2 which technically gives it the ability to operate as a business but it shows up in public record as a single family home. It an older building when the rest of the area is coming up. He quoted a property literally around the corner going for 500k so he feels his 400k is more than reasonable