Hypothetical Transaction

[Eric Bowlin]

I new to commercial property and I haven't yet begun investing in commercial real estate, though I do invest in multi family residential properties. Lets look a property for sale and let me know what your thoughts are. I don't intend to buy this because all my money is tied up purchasing a couple multi's..but I want to start learning.

Office condo, 40k. 3600 sf in a prime location down town. 1800/month condo fee includes all utilities and maintenance. Local rents are around between 10-15/sf..I'd say 12. Office is in great condition, good floors walls and ceilings, no work required. Good office space for almost any business type and this is what is predominately in the area.

How would you approach this deal...or would you run away? Divide and rent, rent it out as a big unit..other thoughts?