Property Analysis Assistance

[Robert Harpster]

Looking at a 4400 square foot commercial property (2700 office and 1700 warehouse one roll-up door) single level. Currently occupiedby a national tenant who will sign a three year lease extension with an option. Tenant has been there since 2010. Current rent is $3100.00. Tenant is responsible for utilities. 

The asking price for property is $350K. 

The TPO roof was replaced in 2019 and gas and electric heat pumps were upgraded in 2016.

Cap rate appears to be 10.6%. 

Would appreciate any thoughts on this deal and questions I should ask. 

Thank-you!