We discuss craft beer, music, and movies on the podcast.

Remember the movie, "The Money Pit" :)

But I love South Pasadena it's truly like a getaway neighborhood.Years ago, I had to move to Japan for work and made short landscape movie of Pasadena in case I get home sick lol.  

Did you see the movie Trading Places?  

Pacific Heights", go rent the movie!

Here is what the prospective property for the case study is like:Large commercial Big Box retail property (its a BIG place) Located in the suburbs of Des Moines, Iowa Des Moines is one of the most up and coming business hubs in the country and is bustling with growth.Former American TV and Appliance storeThey are the current owner and went out of business in this location about 5 months agoDirectly off the interstate (I 80 35)*** FUN FACT - Des Moines is the only place in the nation where Interstates 80 and 35 conjoin ***Directly across from a business parkIncludes a hotel, restaurants, office space, a movie theatre, grocery store, barsNear residential neighborhoods as well (adjacent to my house)Here are some of the numbers on the property:Asking Price: $7.2 MPrevious Sales Info: Sold in 2013 for $5,310,500146,003 Total Square Foot$49/SF10.21 AcresYear Built: 2000Current Assessed Value: $9.2 MCurrent Tax Information: $371,976 annual payment (EXPENSE)Water Payment Information:Summer Months: $3000 (EXPENSE)Winter Months: $400 (EXPENSE)TOTAL EXPENSE UTILITIES: $450,890AVERAGE RETAIL RENT - DES MOINES METRO: $12.32 / Square Foot / YearPROSPECTIVE PROPERTY AVERAGE ESTIMATED RENT: $1,798,756 / YearESTIMATED CAP RATE: 25%Based on previous sales price during 2013 of $5,310,500I wanted to first of all make sure I calculated these numbers correctly and wanted to get more opinions on what these numbers are like for a property like this and if anyone here has had any experience with a similar property.Thanks for all your help BP!

Rent in B area, which I say is B, because it's closer to popular malls, restaurants, movie theaters, is about $25-$50 more than the area our property is in.  

It's a funny movie about flying great white killer sharks.It was so successful they are coming out this year I believe with a big apple sequel one in New York.Steve I understand about holding your ground with no skin in the game.

@Brent Ludwig Now, if you haven't already, find the movie "Pacific Heights" and watch it!

"The world" will take care of that.This person was not a mentor of mine, actually it's a line from a movie: "Don't let the fact that they're doing it wrong keep YOU from doing it right!"