Definitely a strong location with great visibility and high foot traffic.Since it’s a NNN,  your expenses are minimal, but if LazyDog ever exits, buildout costs will depend on lease terms and the next tenant.

How that will play out for long term values is unknown - however human nature has shown proximity to water is desirable. 

Again, it gets back to your overall view of the economy and the near future.I would sit out investing near term (12months). 

I’m just trying to figure out where to start in terms of figuring out what makes sense.

Commercial lease agreement, long term (5+ years).

Be mindful of the harsh winters and short construction seasons, which can affect project timing.

Larger properties offer economies of scale and better financing terms, but they also come with more complexities and higher upfront costs.

I am thinking of starting with rentals, be it short term, midterm or longterm. 

Paul has started at least 3 separate threads in the past few days announcing to the world the success he's having with section 8 rentals and repeatedly reminds us he doesn't have a clue how to calculate the true operational costs associated with these properties. 

The smaller one is a great mid term rental right now.