I'm still new in real estate, just started entertaining the idea of investing in real estate last year. Have yet to purchase anything though. I'm still learning and trying to figure out which direction I would like to take. The question I have is about a multi purpose building in my area, it's in a great spot right in the middle of downtown area that is really growing. Over the last couple few years. Basic info on the listing is...The building is a new build just completed in 2016, 3 story, 3500 sq/ft stand alone building. 1st floor is retail space with. 5 year tenant in place, 2nd and 3rd floor class A office space. Listed at $899,000. Owner will consider lease back on the top floor.
Doing some research, it looks like the whole area of property was bought in 2007 for 2 million, then subdivided out, the land this building is on sold in 2014 for just over $200,000. Building was constructed and now it's for sale. Probably more than a first timer should take on, I'm just not really excited about SFH rentals, this type of real estate is what interests me.
So, need some pointers and advice on how to dial in the pros and cons and how to analyze a building like this. To see if it works or not.