new to commercial property

[Chad Kamerad]

Hi good folks of BP. I would like to ask for some wisdom. What are some differences to watch out for when owning commercial property. I have a good oportunity on a building in a good location in a town of 15000. One side of the building is rented from a title company and rents for 1600/mo. A year to year lease with a built in 2%/year increase.  The other side is vacant. It is set up for a hot dog or sandwich shop and previously rented for 600 (way low for the space). The investor who owns the building has moved to the east coast and has been selling all of his midwest investments. Before it goes on the market he made me an offer of 109k for the property. 

I would like to get some opinions on the deal as well as advice on what to expect moving from residential rentals to commercial.

Thanks in advance for giving me your valuable time and wisdom.

Chad Kamerad