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Updated almost 2 years ago,
I'm looking for advice on a commercial property deal
I have found a commercial property (zoned ccg2). The property is 1,080 sqft/ 2bd/ 2ba/ lot: 0.25 acres/ year built: 1930. The property is vacant at the moment, I found an average rent of this area and it needs full rehab (40K-50K). Comps: 1) $209k 2) $749K / ARV: $479K / Average rent per sqft : $14,3/y. Gross annual rent : $14,128. Taxes are $1280 and insurance is $980 annually. No mortgage. This property will be $170K under contract. Employment and population has increased (for this zip code also). Is it a good deal?