At the very least you need an experienced commercial retail broker or also a commercial retail attorney to help out.Have you gotten a soft quote for debt with a capital markets mortgage broker and modeled out a return scenario over a 10 to 15 year hold?

Back those in my EARLY Days I also started to attend every real state auction, that's where my real education really started (meeting seasoned investors and learning about values, hard and soft money, leverage, negotiating and skinny contracts making offers and sharping my skills on nothing down methods and creative financing and options.

Knowing some numbers is good but try to keep the soft factors in mind too.

PLUS the land and soft costs?   

You need architects/engineers and expediters, which adds anywhere from $30-$90K in soft costs to renovate.  

Yes you must have a soft phone addon in your rig.

If she wants to move, she could stealth pack all her soft items (clothes, cookware, etc), get those out and gone one day, then hire a mover to get everything else gone in a day.

Footprints are shrinking for soft goods, but gyms, trampoline parks and other "fun" are backfilling a lot of those boxes.All that said, there is pretty strong data indicating that DTC brands begin to struggle with customer acquisition costs around $10MM annual sales if they don't have brick and mortar stores.

I don't know what part of the country you are looking but here around Houston, GC's are spending about $90 a foot (and going up-up-up) with out even adding soft management cost, land and development (like taps, retention ponds and dirt mobilization) . 

@Juan Ospina do you know what your numbers mean on the soft costs.