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Updated over 1 year ago on . Most recent reply
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Pulling comps for a mix used property
I'm looking into buying a mix use property. Upstairs is a 2br house while down stairs is a commercial beauty salon. The upstairs needs to be rehab while the shop needs little to no work. I'm very interested because my wife does hair and can run the shop. I was wondering how can I pull comps for this property so I can get an idea what to offer and what I can pull out of the equity when I refinance
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Mixed-use properties are considered commercial properties and the value would be derived from the cap rate and the net operating income. NOI / Cap Rate = VALUE.
You can find the cap rate by speaking to brokers in your market and/or by reviewing other commercial property sales in the recent past.