Questions about commercial property investment opportunity, I am clueless

[Aaron Crow]

I have a property that I am looking at, it is a converted house now zoned commercial.  Property has been updated, has 11 parking spots, covered patio and storage building.  Was listed at 239,900 and was just reduced to 180,000.  I know the owner, went to high school with him and he has been my mortgage broker that I have closed quite a few houses with.  He changed companies and doesn't need an office any longer.  My former real estate broker is currently occupying the space but is also moving out at closing. 

Yr Built 1950, 1044 gross sqft, 4 offices, small kitchen, bathroom, office furniture stays

They said it could rent for 1400-1600.  It is not located on a major street, it is behind an old sonic that is now a catfish place.  You can see it from the main street, just not much traffic on the residential street it is on.  

I don't know where to begin trying to put a evaluation to what it may be worth, but seems like I could negotiate with the seller and if the numbers make sense then pick it up.  It is in the small town that I live in which makes it easy to manage myself.