I’m Erick, and it’s great to connect with someone new to the space. 

Thanks, Bernice One approach is to break it down by looking at similar vacant retail spaces nearby and comparing price per square foot while factoring in potential rental income once occupied.

Looking for any and all other ways to continue to learn about the space, with the current goal being to familiarize myself enough with it to be able to start taking action in the coming years.

The returns that investors require is generally based on their perceived risk of the project and the investment period.With my CFO clients who do real estate development, most LPs in the small-scale residential space (SFR & 2-4 MF) are investing for 3-5 years and are looking for a preferred return of 8% with an IRR of 16%-18% for turn-key and 18%-24% for value add.

I have never built a home before and I do not have 'construction' experience aside from renovating my own spaces (so i do have experience- just no formal experience). 

Welcome to BP and the investment side of real estate—it’s an exciting space to dive into.

Or create something unique ... a game room, a killer outdoor space, a wall-papered wall, etc. 

With 30% vacancy in the area, filling space could be a challenge.NNN leases are great for minimizing expenses, but how much control do you actually have?

Sounds like you've been around the block in the RE space before, and I'd love to hear more about your journey chat about what kind of synergistic value we can bring each other.

Can we change these units back to commercial / office space?