1st Commercial RE deal, is it a good deal??

[Daniel Torres]

Hi Gang,

I am in the process of purchasing my 1st commercial Deal and I wanted to run the numbers by you all and see what you think.  I do not have an inspection yet but I believe the condition of the property to be fairly good.  Obviously that will affect the value and I will post once I get the inspection.

It's a 9800 SF 1 story office building in Broward county FL built in 1980.  Taxes are 33k/year.  Currently there are 3 tenants, the largest unit (5300SF) is also the owner of the building.  All tenants are medical offices.  The Largest space/current owner will actually be leaving for me to move my business into the space but for what its worth their rent is $9500/month.  The other two units which are 2300SF each rent for $4500 and $5900 (this includes CAM).  The tenants have 3 and 5 years left on their lease and one has a 5 yr option.  The purchase price is $1.9million

So... thoughts?

What questions should I be asking and what should I be looking at?

Thanks in advance!