First Deal (Commercial). What do you think?

[Brett Morton]

Hey BP,

After about a year, I think I have found a deal. This will be my first property, and I will be going in 50/50 with a partner who has some experience with commercial rentals. It is a freestanding medical office building in a town north of Charlotte, NC. 

I would appreciate any advice and critiques! Also, If anyone has a good or bad experience with a medical office building, please share. 

This property is currently leased, with a little less than 3 years remaining, with 2% annual rent increases. 

Listing Price: $559,000

2017 Gross rent: $69,730

Taxes: $6,574

Utilities: (paid by tenant) 

My partner will be using all cash. So I am thinking of paying my half ($279,500) with a 10 year fixed loan at 5.1%, and $70,000 (~25%) down.

This would pin my annual payment at $26,788. 

My half would look like:

Rent -   $34,865

Taxes - $3,287

loan -   $26,788

I know this is a fairly high level overview, but any advice would be very appreciated. 

Thanks BP!