Newbie looking for feedback on a commercial deal

[Chandra Krishnan]

Dear BP members,

I'm a newbie looking to take the plunge with a commercial deal - 2 story building - retail + office. Have some experience in managing commercial buildings and so understand the basics. I think the seller will be open to an offer of $500,000. Rough NOI $44,500/yr and 9% cap rate. I'm looking to put down 10%. Seller appears open to financing. Do you think getting 75% lender financing (20 year term) and 15% seller financing (say 20 year amortization with 5 year balloon) is a reasonable/practical expectation? It appears closing costs could be another 5% and looking for suggestions on whether it could be offset by some credit or rolled into the loan. Haven't yet reached out to a real estate agent or lender to discuss the possibilities as I just started crunching the numbers once I reached out to see the property after coming across the posting. Any feedback/advice is appreciated!

Thank you

CG.