Vacancy Estimate for Commercial

[Kevin D.]

I'm looking in to making an offer on a commercial property (Class A-) and want to get some feedback on vacancy rate estimates. In MFR, I usually estimate 10% vacancy; but is this the same for commercial?

When I create a pro forma P&L, should I discount the future rents if a tenant is on a m2m rental agreement?

Lastly, how long does it normally take to find a tenant to sign a multi-year lease?  Obviously, this time can vary, but I want to assign a realistic, yet conservative, expectation in my pro forma.