Plus, the locks are a step above various retail locks.

The pace of your revenue ramping up will determine the value for the first 2 years.

A simply Phase 1 report will tell you all you need to know and will probably cost $1,000.00 for a small retail location.

Buying properties in hot markets at retail value with no value add is speculation. 

What worked in 1981 when interest rates were 18% is different then 2021, when interest rates were 3%.Purchased a retail/warehouse with tenant in place for $290,000 (seller financing) with $75,000 down.  

I had a apartment building under contract for 750k on a 60 day escrow, called a agent I knew in Beverly Hills and he brought me a retail buyer for 1.16..... we opened escrow concurrently....I called a hard money lender and they gave me 650k with no appraisal....called a land lord investor I know and told him I’d pay him 165k in 1 week if he gave me 150k....while I was in the last 2 weeks of escrow I took the difference between the 800k and the 750k purchase price plus fees (roughly 30k) and took the family to Miami/ Jamaica for two weeks and came back to a 430k check waiting for me...I paid my landlord investor 165k amd kept the rest and did the whole deal with no money out of pocket.....I thought that was pretty slick

Hard to say exactly Leslie If you look below you will see it was smart shopping that helped. the faucets cost not much more than regular because I sought out clearance and odd lot dealers, goose neck faucet 129 water fall faucet 39 from amazonrainfall shower head 39 from amazonI spent 900 for both laundry center functionality wiring and plumbing and retrofitting the preexisting closet to function as a portal for the laundry center plus 400 a piece for each stack washer dryer from scratch and dent supply house.the most money over builder grade was the under cabinet lighting which was relatively cheap about 20.00and perhaps the fancier vanity lighting and living room and kitchen lighting purchased from odd lots 10 bucks a piece retail value 60-100 a piecelaminate over carpet was actually a bit of a savings.so overall maybe 1500 over normal renovating costs for both units.I purchased oops paint so I saved there.worked side by side with the contractor hands on in the dirtto save money and learn at the same time.and countless hours working on the design elements.on one unit I repurposed a track light and hung it as a vanity light it looked awesome and cost me $5.00I bought a round mirror from ikea for 14.00 so no extra money thereput a glass shelf underneath total cost for bathroom remodel not including vanity $ 27.00

Most retail buyers are offering higher than asking price, no inspections, and closing in 2 weeks or less.

Most newbies cannot handle one or both of these realities so a retail purchase is not viable.So find a below retail purchase. 

Mom: Then I can resell it.Me: The house retails at $220k....PHASE 2Me: What if the market drops by 10%?