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Updated about 9 years ago on . Most recent reply

User Stats

298
Posts
79
Votes
Tony Velez
  • Hvac
  • North Haven, CT
79
Votes |
298
Posts

Commercial property help with analysis

Tony Velez
  • Hvac
  • North Haven, CT
Posted

I'm looking for my first commercial property. This property has a long standing nice Irish pub in one unit. There is another small unit upstairs. I'm not sure if its rented out yet. I will get more onformation tomorrow. My question is this? So far all the information I have for this property is what the realtor gave me. How can I find out the true expenses and rents for this property? 

This is what I know so far. According to the realtor. 

This is on a main busy road with a lot of businesses in the town over from me. I know the area very well. 

Asking $325,000

3,154 TOTAL SF

1st floor 1,220 sf.                Pub 2,300 sf month to month $1,975/mo...$23,709/yr

2nd floor 1,164 sf.               CAM                                                            $2,833.80

3rd floor 660 sf.                   Total rent.                                                    $26,542.89

Annual Expenses 

Sewer $913.47

RE Taxes $5,630.34

Insurance $922.74

Common area expenses -allocated 

Parking lot lights, MAINTENACE & repair $301.26

Snow Removal $899.81

Landscaping and plant care $360.18

Trash $613.89

Total $9641.68

NOI $16,900

How can I get more accurate information?

Most Popular Reply

User Stats

16,433
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12,718
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Ned Carey
  • Investor
  • Baltimore, MD
12,718
Votes |
16,433
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Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied

In commercial properties it is common to have a due diligence period to do inspections and verify the numbers given to you. Leases, copies of bank statements, tax returns, estoppel letters from tenants, etc and just a few of the things to check when buying a commercial property. 

  • Ned Carey
  • Loading replies...