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Updated about 1 year ago on . Most recent reply

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Gi'angelo Bautista
  • Flipper/Rehabber
  • San Francisco, CA
69
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Super Small office - Need to fill with tenants before selling or keep it vacant?

Gi'angelo Bautista
  • Flipper/Rehabber
  • San Francisco, CA
Posted

Looking for some advice as this is my first time owning a small office. My small office building is (1,700) sq ft with 3 units. Do I need to fill it with tenants before selling or am I able sell it vacant? Is the buyer able to get a loan if it's vacant?

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

I don’t know if your hypothetical buyer can get a loan and you might want a tenant or two if thsi takes you 6+ months to find a buyer. But…

Many buyers would like to pick their own tenants AND your ideal buyer might be buying a location for their own business and want a vacant spot. But, some may be afraid of the time and costs to find a tenant. So 1-2 tenants may be the middle ground. Ask your commercial realtor.

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