There are specific property management leases for retail that companies usually use.Since you are newer to retail management you should analyze WHAT TYPE of tenant mix is in the center.Typically easiest to hardest to manage and keep performing:Best: All national tenants with corporate guaranteed leases and absolute NNN with CAMBetter: 1 or 2 national tenants and some regional with a few mom and pop.Good: No national tenants with some regional and mom and popAverage: All mom and pop local tenants The higher touch tenants take much more skill to keep performing and they generally want to have a stronger relationship with management than big corp. tenants.

Some people prefer the more C class neighborhoods for stronger cash flow and more exponential appreciation (which I don't think is sustainable long term but who knows as affordable housing becomes in such demand).Some of the neighborhood grading from my personal opinion is below:B Class NeighborhoodsGrove City EAST (N: I-270 | E: I-71 | S: London Groveport Rd | W: Route 62)Merion Village SOUTH - 43206/07 (N: Thurman Ave | E: Parsons Ave | S: E Morrill Ave | W: S Wall St)Berwick (N: E Livingston | E: James Rd | S: I-70 | W: Alum Creek)Olde Towne East NORTH (N: E Broad St | E: S Champion Ave | S: E Main St | W: I-71)Franklin Park (N: E Broad St | E: Alum Creek | S: E Main St | W: Wilson Ave)King-Lincoln Bronzeville SOUTH (N: E Long St | E: Taylor Ave | S: E Broad St | W: I-71)Woodland Park SOUTH (N: Greenway Ave | E: Railroad east of Woodland Ave | S: Broad St | W: Taylor Ave)Milo Grogan WEST (N: E 5th Ave | E: I-71 | S: I-670 | W: Railroad west of Cleveland Ave)Franklinton MIDDLE (N: W Broad St | E: 315-N | S: Sullivant Ave | W: Glenwood Ave Railroad)Fifth By Northwest/University View/Lincoln Heights (N: Kinnear Rd | E: Rt-315 | S: W 3rd Ave |W: N Star/Glen Ave)Weinland Park (N: E 11th Ave | E: Railroad east of Cromartie Ln | S: E 5th Ave | W: N High St) The Ohio State University EAST OF SUMMITThe Ohio State University WEST OF SUMMITOld North Columbus/SOHUD/Tuttle Park/Glen Echo (N: Glen Echo Creek | E: Railroad east of N4th St | S: W Lane Ave | W: Olentangy River)Riverview/south of N.

Just remember than the stronger markets are better protected against a market correction ie.

Higher interest rates, overleveraged current owners, stronger rent stabilization laws and fewer landlords with the financial means to let apartments go empty for years to renovate/combine units to deregulate the units makes buying an investment property with rent stabilized units a bad short and long term investment decision.

Pros for old houses: stronger dimensional lumber; old growth hardwood flooring; usually some updates; often in gentrified/gentrifying areas. 

As investors foresee increased variability in future rates or an increase in risk, risk premiums widen, putting stronger downward pressure on property prices.All the best!

You could have national tenants leases coming due in a couple years that have their eyes on a stronger location and then you will backfill with more regional and mom and pop and lose cap rate value due to tenant quality.Also current rents per foot with leases for box sizes versus what the market is doing.

But I look at this “failed” project as a step forward to make me stronger and better going forward.

Of course the figures vary by location (and you may be in an area with stronger renters, financially) but with only 11% of renters making over 75K household, I actually focus more on the middle, lower income, with 74% of the renters making under 50K. 

I would think that as locals are squeezed out of buying a home, there would be a stronger demand over rentals, which would start increasing rents.