Evaluating financials for commercial property

[Priya Shekhar]

Hi all, 

I am looking for help with analyzing the financials (income/expense statements etc) for a multi tenant commercial retail property. Would really appreciate if someone can share a contact for a professional  who does this; may be a CPA? If you have also personally had a good experience with them, it will be great to know. Someone in California or Arizona would be preferred but anywhere in US would work.  Thank you! 

[Scott E.]

I started by browsing LoopNet and studying hundreds of OM's that were attached right to the listings. You are not likely to find a real deal on LoopNet, and the OM's often times will present pro-forma numbers versus real life numbers. But you will learn a lot after reviewing a few hundred of those. Should learn enough to start understanding what a 'deal' looks like for you and your goals. 

Next thing I did was find a broker I trusted and I would underwrite those properties that I thought were 'deals' with him prior to making offers. Once I got my first offer accepted, that is when I brought in my attorney for further digging.