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Updated almost 4 years ago,

User Stats

4
Posts
0
Votes
Dayrone Edwards
  • Rental Property Investor
  • Richmond, VA
0
Votes |
4
Posts

Commercial lease How much should I charge a month

Dayrone Edwards
  • Rental Property Investor
  • Richmond, VA
Posted

I have a property zoned agricultural that I plan to lease out as commercial. It’s a 5 acreage lot with a house 2300 sf, 3 commercial garages and 3 mobile offices that sits adjacent to the house. The previous owner used it as an automobile paint and body shop for 9 years. How do I known how much to lease the property for? Assment value is 250K purchase price 73K cash. I plan to cash out refi with commercial mortgage @200K with 4.5% interest rate

It’s the perfect setup for some one to live in the house and operate a paint/body auto mechanic shop.