Negotiating offer on a commercial

[Bharath Raj]

I am trying to buy a commercial office space that' 100% occupied. The NOI is $34k (I verified it to be true, with a more seasoned investor). I am trying to buy it for a cap rate of 4.8%. The local commercial bank said that they typically find 4% to 5% as being good deals at this time. I offered $7000000 (discount of ~$100 k from asking) with 10% down and 90% owner financing for 10 years at 4% rate. They accepted the price, but not the owner financing terms. I had previously offered $550000, but increased it because the seller' broker had led use to believe that he could work on the owner' financing. My goal is to pay off the loan in 10 years. The bank will give me a loan for 10 years at 5.5 % to 6% (fixed rate), with 20% down. I calculated by 10 year cost of buying the property as being ~$830000 based on my desired terms of owner financing. How can I get my terms, while also keeping the seller motivated? Seasoned negotiating tips will be greatly appreciated.