Please give me your opinions (first commercial property ever)

[Alex Breuer]

Hi,

I recently bought my first commercial property from a buddy and looking for some opinions.

Its a 4 space office building that meets the states requirements (MN) for auto dealers to hold there license and do buisness.

I bought the building from him for 50,000 dollars cash 😂 (its an hour away from twin cities thats why so cheap)

The offices lease for 400.00 dollars each x4 . the people who lease them jump on it fast due to most of them paying doube to 3x that price in the twin cities.

Utilities are 150.00 month and theres not many other expenses besides taxes but they are cheap.

How is the property valued if i resell it?

What do you think of this deal?

Can i cash out money if so how do they decide how much?

I guess in 50 months ill have my money back.

I also qualify to use an office and get my auto dealers license.

Thanks in advance for your thoughts/answers