Sell or refinance commercial property

[Philip Johnson]

I just secured a long term tenant for my commercial building which should generate $72k/yr for 10 years. It appraised at $770k. I was offered $950k to buy it with the tenant in place. I owe $350k on the Mortage. Should I take the deal and pay off some lines of credit or refinance and use the equity to purchase single family housing. I’m a newbie and this will be my first deal.