Give me your thoughts on this office space

[Tiffany Alexy]

Hey guys,

I've been playing around with the idea of venturing into commercial property. Here is one that I found that I think might have potential. Would love your thoughts, especially of my fellow Charlotte friends! I've heard so much about NoDa (where the space is) so I think it'll fit a buy and hold strategy. The ad says 10% cap rate, but I know once I account for insurance, taxes, plus the HOA fee it's not going to be that. But what I think is a positive is it's zoning - if it were to be converted to residential, I think the property would be worth significantly more (given housing costs in Charlotte and its location). Don't think I would want to do that anytime soon but there is potential. Honestly though I have no idea!

Here is the ad: http://charlotte.craigslist.org/reo/4642041479.htm...

Thank you!!!!

-Tiffany