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Updated over 11 years ago,

Account Closed
  • Investor
  • Schenectady, NY
3
Votes |
9
Posts

How much of my money should I use to accommodate a potential storefront renter?

Account Closed
  • Investor
  • Schenectady, NY
Posted

I'm waiting to close on a new property. 2 occupied storefronts, one bedroom, and a "bare-bones," unoccupied storefront currently being used as a shop/warehouse. I'm new to non-residential so, my question to all the experienced investors out there is where do I draw the financial line between me and the potential renter? I need to rent this warehouse. Is it common for renters to put up 100% into creating their optimal space? I'm sure the obvious answer is "it depends on the terms and the business." but, I'd like to know what the usual agreement is. The way I'm thinking is I'll put the basics into it. Drop ceiling, lighting, sheetrock, resurfacing the floor, commercial style doors, better heating system, ect and leave the rest up to the renter. I like to think of it as constructing the frame, stretching the canvas and letting them buy the paint and do the artistic work on a nice, clean, new, canvas. I'm trying to think outside of the residential thought process and accept the freedom of commercial ownership. Any thoughts will be greatly appreciated.

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