Another commercial deal seems right on target

[Chase Gochnauer]

15k SF flex space, 24 years old. Nice looking building, warehouse/office. Near major metro downtown.

List price: $965k

New 3 year lease @ 8.5% cap rate($81k/yr) with established company

Tenant is responsible for pretty much everything. Rental rates are on par with market.

Seems pretty straightforward. 20% down @ 6% rate 30 years is 18% total ROI between cash flow and equity paydown. At 20 years, cash flow drops but ROI is the same.

Unless there's something missing in the lease agreement I'm missing, seems like a straightforward reasonable deal. Anything I should watch out for?