Questions to ask when smells too good to be true

[Dan D.]

So i found this listing in Loopnet for an office building at $1.2mil w/ a 26% cap rate.

It's in a pretty good area and 100% leased up.

Talked to the agent and he said it's closing tomorrow; final price $1.05mil and stated the cap rate is accurate (of course I did not believe it so I flat out asked if accurate).

Besides a pro forma; what other docs could I get to substanitate the agent/sellers claims on the cap rate?  Seller tax returns?

Just want to know what I need to be on the look out for as this deal seemed too good to be true and a no brainer.

I am new and can post the link to the property which just closed; but, need to go back and re-read the T&C of this site.  If I cannot and want me to send you the property in a PM i will.

Thx.