When our anchor tenant broke the lease the mall got in trouble and since I was not there to actively get it re-rented we had to reply on (incompetent) agents to get it done which took 8-9 months, enough for the bank to foreclose the property, we lost a bundle!

Is a unit right next to the entrance of the strip mall more desirable than a similar unit nestled in the back but next to the anchor tenant that draws heavy foot traffic?

I am not heavily involved in that aspect of real estate, but I will chime in with my 2 cents.I am very bearish on commercial office, as it is my opinion that the internet is going to continue to eat away at commercial office space.I think supermarket-anchored community centers, medical, and restaurant (the type that Realty Income invests in - with fast food tenants) are the commercial properties that make sense to me.

My thought was to set the anchor for further negotiations with the reasoning being the information about the rents (which likely came from the seller's agent, although that's unverified).

I grew up there so I have strong relationships w/agents and managers and know the anchor industries well (universities, hospitals).

Lawyer called and threw out offer of around 100K, as anchor pricing.

I would just add that with finishing the ground floor, it would be good to think about adding anchor bolts to the foundation (if you want to), adding drainage to the garage (makes it easier to clean up and if a water heater were to leak) and backyard if there isn't any (for when it rains you dont want a huge puddle back there), replacing all the galvanized piping, and adding new wiring like Ethernet.

I have been debating between Orange County and Riverside, leaning towards Riverside, but have no actual data to anchor this hunch down to.

I know that some people like the idea of some sort of "anchor" or "stability" with a long-term tenant, but if you're making 2-3x the revenue with an Airbnb/short-term rental that of a long-term rental, you've got a buffer built in should you need to transition from STRs to another model.The bigger question for you, though, is what the regulations are in your community.

Posting as an anchor point to look back on in the years to come ( and to get familiar with the site).