All Forum Posts by: Brad Johnson

Thanks for the feedback @Cason Acor. What I was looking at was strictly office space around 2,500sq ft that was in the same complex as the contractor garages. I know the garages themselves are a hot item, but wasn’t sure about a small office space in the same complex as the garages. I think a combo between the too would be a great option to own but that’s few and far between. What are contractor garages leasing out for currently?

I've seen them go from $1 all the way up to almost $2/SF depending on location and building condition.

There's significantly less demand for something that's strickly office space. If the offices are suburban but still well located, then you can still find tenants for an office in the 2500 SF size range. It just won't be a small contractor becuase like Henry said, they don't need it.

I'd also recommend looking into a company called Stanza. They're basically an AirBnb but for office spaces. Could be a creative way to fill a unit like that. I can get you the owner's contact info if you're interested.

@Cason Acor thank you for the feedback. I’m going to pass on this property. It caught my interest initially as it’s a potential sale leaseback by the current owner but they only plan to stay another year or two before needing a larger space.

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Salt Lake City, Utah

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Salt Lake City, Utah

Curious to what market demand might be for a smaller office/flex space next too a bunch to contractor condos? Would seem like a good opportunity for a rentable space for contractors to meet clients or would it be better to look for a longer term lease?

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Salt Lake City, Utah

Quote from @Account Closed:

Quote from @Brad Johnson:

Anyone have any experience investing in single tenant NNN medical offices (ex. Dental Office) and pros/cons vs buying a similarly priced 4-6 unit multifamily property. Assuming CAP rate is identical and neither properties require any renovations.

Thank you in advance to any responses.

STNL is easier to manage. Medical tenants are financially well qualified. They remain in long term locations to build local recognition. Rent escalations can be included in the lease.

Thank you for your feedback!

1 Vote

Quote from @John McKee:

pros on the dentist office is that it is likely a long term lease, less maintenance, and a more stable tenant. the con is your rent is locked in and there is no value add.

Multifamily has more headache with turnover on tenants as well as maintenance. The pro would be that you have more flexibility to raise the rents as the units turn over.

I would only buy the Multifamily if there were some upside to increasing the value of the property, otherwise I would stick with the passive cash flow of the dental office.

Thank you for your feedback!

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Thank you in advance to any responses.

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All Forum Posts by: Brad Johnson

Brad Johnson has started 3 posts and replied 8 times.

Post: New Townhome or Older Single Family home (Which is better?)

Post: Flex office space next to contractor garages

Post: Flex office space next to contractor garages

Post: Flex office space next to contractor garages

Post: Flex office space next to contractor garages

Post: NNN Dentist Office

Post: NNN Dentist Office

Post: NNN Dentist Office