This property is on a street with 6 other doctors , medical imaging building , and a dentist office. Every property has a tax assessment of $400 and up. The property I am looking at is assessed at $400k.

Asking price- $130,000.00   Sq ft-2517 It just dropped $65 k Agent is making it known that seller is eager to get rid of it and would offer some owner financing

Going rate in town is anywhere from $12 to $20 a sq ft for professional office space.

Taxes- $7,000 

Property is vacant.

My theory is- It's not leased because the office is extremely dated. I walked the property today and all it really needs is cosmetic update. Would need commercial vinyl throughout, 1/4 drywall  in some areas where there is ugly wood paneling, a landscape fresh up and new paint. Maybe thats a bad theory though.

Do commercial owners pay snow removal or does the tenant? 

The property comes with instant equity when comparing to sold/active comps within past year. 

Is it harder to refinance a commercial property?

Commercial lending- Is it usually a stricter process when going for financing on an office building? Will they take the equity in consideration?

Any tips or input would be much appreciated. I am itching to buy it.