Commercial building classes (A,B and C)

[Michael X.]

I know that commercial buildings are generally rated A, B or C depending on a lot of factors. My question is can a "C" building ever become an "A" building? I'm not sure what is weighed most in the grading such as the location (can't change that), or the age of the building (can't change that), or if it needs renovation and a facade refresh (that I can change).

Has anyone purchased a "C" building and made it an "A" building. Or in the end does it really matter if you are cash flowing well (sales price based on cash flow)? I assume that a better class gets you more in rents.