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Mixed Use Building Tenant Question
Does anyone have experience with mixed use buildings? I am looking at a purchase that is mixed use (basically large older victorian type home with office space on main two floors and apartments on lower level) There is a loft on the top floor that would make a really cool 1 bedroom apartment if renovated. My eventual plan would possibly involve converting the office space into residential units as well. Would you advise converting, or do you like having a mix in unit type? As far as evicting commercial tenants, my thinking is that they would likely have much longer leases. Can these be rendered void once I take possession as the new owner and want to change the use? Please advise and much appreciated.