Valuing an inherited commercial property

[Dave Wittnauer]

I had an Uncle leave me a property, and an expensive mortgage, after his death a couple months ago.  I am really in over my head.  I have an appointment with a commercial real estate agent early next week to talk about selling, but I am wondering what I should be doing to try and understand the building's value so I know that I am being treated fairly?

I have thought many times over the past couple months about trying to make it work but I really don't have a great deal of patience for dealing with tenants (there are 11) and the calls, questions, etc.... are really driving me nuts.  There isn't enough money left over after expenses each month to afford a property manager and I really don't like being that person.  

The property was purchased in 2006 so a premium was paid.  If someone made enough of a downpayment, I'd think the place was a cash cow for someone.  I'm really not sure though since this isn't my area of expertise.