First NNN Investment Property

[Robert Harpster]

Brand new to the site and looking to purchase first investment property. Located a NNN two tenant 2600 sq. ft building built in 2003 and renovated in 2016. The numbers are:

Price $600K

Cap rate: 7.0%

NOI: $41, 625

One tenant lease is up in 7/2021 (Gross Lease) and the other 9/2026 (NNN Lease). Both spaces are 1283 square feet. Both tenants have drive-thru windows. First lease was six year and second is a ten year.

My initial concern is having the building appraised. Property taxes are $6093.00, Want to see what comps are running at. 

Does anything immediately jump out regarding this purchase? How do you ask if the expiring tenant expects to renew? What questions do I need to ask?

The information on this site is amazing and I apologize in advance if I left out any information. 

Thank-you!