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Updated almost 8 years ago on . Most recent reply

Account Closed
  • Manchester, VT
5
Votes |
6
Posts

Multi-Family / Multi-Use in CT with Dental Office

Account Closed
  • Manchester, VT
Posted

I am analyzing the potential purchase of a Connecticut multi-family with a dental practice on the 1st floor and a residential tenant in the 3BR on the 2nd floor.  My husband is a dentist, so we feel comfortable having the practice as a tenant and we understand the market rates for that type of space.  I'm crunching numbers, but this seems to be a weird hybrid of residential and commercial with some unusual risks.  So, to all you experienced dealmakers out there:

- What is this? A multi-family or a commercial space?  

- What type of real estate agent should I be using?  

- Is it reasonable to expect that the dental office would have a triple net lease in place, or because there's a tenant upstairs would it be a regular lease?

- Is it reasonable to ask to see the lease agreements before getting under contract?

- Does anyone have experience with a dental / medical office tenant leaving you with a space that's only suitable for... dentists (or a very specific specialty)?   Do we need to budget for extra vacancy, or for changing the use of the space?  

Any advice or direction you can provide would be great.  

Thanks - Allison

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