Expense Ratios for Office and Industrial Properties

[Andrew Syrios]

Hey there seasoned commercial investors. I'm looking at a few industrial and office buildings that look very interesting but the owner doesn't have much in the way of a P&L. There's the old 50% rule for apartments, which is a decent rule of thumb. What do you use for a general rule of thumb on expense ratios for office and industrial buildings; either on a triple net lease or if the owner pays taxes and insurance. Thanks!