Advise evaluating a commercial deal

[Rob Schocker]

Hello, just wanted to get some help evaluating a potential commercial project.

24,000 square foot building with 20,000 warehouse space and 4,000 of office space.   Building is concrete tilt up and is in very nice shape.

lease is $12,000 per month NNN, tenant also pays RE taxes.

just entered into 5 yr lease.

7.5% cap rate 

PP is $1,920,000.00

seller will finance with 10% down at 5.5% interest. 

loan amount is $1,728,000.00

30 yr amort. @5.5% is $9,831.39/mo

thank you for any help or input