Class C/D Commercial Real Estate ?

[Phil Dodd]

I have opportunity to buy a commercial property in midwest. I live in Texas but lived in city where property is located and am familiar with area. Current tenant just started year 11 out of four 5 year options so 9 years left on lease at 5500 month gross lease. Taxes and insurance are 12,000 year. Tenant does take care of landscaping. New roof last year. Price is 350k.  That will put me at a 13.7% Cap rate.  The building is an old industrial office that has been partially renovated to serve current tenants needs. My biggest issue is that if tenant leaves it would tough to find another tenant without significant rehab on building. The tenant operates a methadone treatment center which is highly regulated and it would be very difficult for them to move to another location. But who knows if some other treatment will come out and replace this treatment option. Thoughts?