Smaller Scale (<$1M) Commercial Strategies

[Chris T.]

I know most regular contributors here generally advocate that for a decent commercial deal you need to be looking in the $1-$2M+ price point and at national NNN tenants in large urban areas. For the sake of discussion and education, what type of strategies could one follow to make the under $1M price point work well? Like on the residential side of things there are some that stay avoid the $30K house at all costs, but others have a system in place to make great returns in that space.

What would you require to invest in this space? Simply higher cap rates? Rural/sub-urban property in the path of growth? Specific industry (national fast food brand vs gas station)?

Sometimes, when everyone is going left, there are deals if you go right, know what you are looking for, and do your homework. Thanks for any and all thoughts.