But if the lease terms are murky, if renewal conditions aren’t guarenteed, or if the airport authority could dramatically shift the deal down the line, then you should be asking for a discount..or at least some protective clauses in the contract.I’m curious... if you were to step into this kind of leasehold now, how do you think you’d explain the upside to your future buyers or partners when you eventually decide to exit?

The issue though will be a lender will not give you 100% acquisition if thats what you are trying to do by getting it at a discount. 

Listing immediately at a bit of a discount to fill it quick on ST leases to reup in spring.

So you can expect a discount to get to that point..

If it works, the cashflow is tremendous.

They are still at a discount to the 10 year treasury bond (i.e. market trends indicate they will continue to escalate).

I have seen a tremendous difference in terms of how my property performs now. 

I would attempt to negotiate with LL the scope of work required for the discount.  

1) cannot qualify for traditional financing2) fears appraisal will come in low3) fears buyer will back out so reduces contingency optionsnote for cash purchase I expect a significant discount.  

As someone born and raised in Cleveland, I've witnessed the tremendous growth in Northeast Ohio firsthand.