All Forum Posts by: Wesley N.

what about smaller pharmacies? Personally, I'd need a higher cap than a Walgreens. why not shoot for a 10 cap?

you don't need to go NNN to get what you want, or need a credit grade tenant. You can find NN or other low maintenance commercial properties that don't require much time or tenant laws and headaches. Look for smaller good locations that you can start with and look for favorable leases with decent term remaining. I see them all the time.

Great. Lawyers kill deals. Listen to their advice but remember listen doesn't mean follow. 

If they knew how to find deals they probably wouldn't be selling their time. 

Most of my deals are with sellers holding paper, and those are usually the best. 

Do it. The art of our business is solving problems and if you have the will, there is a way. Good luck. 

I do commercial but I could get you some references 

I do commercial but I could get you some references 

did you get it? I saw one like that near Harrison Park

Neighborhood cap rates are between 5 and 6% typically. Just interested in what people would offer. Thanks! @Crystal Smith

I'm looking at a property and would like some second opinions. 

It is a mixed use property in a busy trendy area of Chicago on the northwest side. 

The property has one tenant, a successful business, that has been there for 9 years and has 1 year left on the lease, with a 5-year option they intend to use. 3% yearly increases.

The modified gross lease has personal guarantees. The Landlord is only responsible for taxes, insurance, and building shell. 

Tenant has invested almost 200k in the space including an addition on the building.

NOI is $50,500, some deferred maintenance- of course.

What is it worth? What would be a good offer?