Off market 100% leased Shopping Center

[Karla Torres]

Good morning! I need some help with evaluating this commercial property. This is my first commercial property and just want to have opinions from experienced investors. The property is 12,000 sqft, it is 100% leased with 3 year leases in place. Rents received for the year is $118k. Yearly expenses (utilities/repairs) $6k. My calculated Cap rate is 11% Seller is asking $1M. 

I will get a lender and finance this deal and put the required downpayment. What are your thoughts? Thank you in advance for any help!