Analyzing a commercial property

[Ankur M.]

Hello,

I am analyzing a commercial property shopping center to look into going in with a partner. They property is currently set at $850k and 100% occupied with long term leases. The net income at $82k. Looks like the property is owned by some investors, and may have purchased it around $450k from a bank. My question is what would be a reasonable offer if i financed this property with about 25-30% down? I assume I may be able to get a 15 year loan. The assessed value with land and building is about $670k.