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Updated about 6 years ago,
Our first Commercial Property
Hello, we are new to commercial investing and wanted to throw this possibility out for opinions...
A commercial building for sale for $739,000. A long term tenant, lease NNN that expires in 2024. Current NOI is $52,218 with 2% annual escalations, cap rate 7% on existing NOI. Interest rate with 25% down fixed at 5.5% for 5 years. 20 year mortgage.
Would appreciate any and all opinions!