I have lived in Memphis all my life but do not know if this is the market I want to pursue.

This will give you insight into their experience, expertise, and knowledge.

Please reach out if you are knowledgeable in this area, and we can start a conversation where I can provide you with more details. 

Quote from @Frank Weiland: I am looking at my first real estate investment in the Clearwater Florida area 33756 zip code in Pinellas County.

If both of those things are true, then you have a higher than average risk of tenant turnover, which is where that cap rate is coming from.

Following this thread to see what responses come up. 

Quote from @Jeffrey Anderson: Quote from @Ben Stanley: Been hearing a lot of investors had their properties royally screwed up from Milton.

That is the selling point of this place.

@Terra Padgett this is awesome advice!!

Unfortunately, I don't think it's realistic that you will find a generic commercial lease online that checks all the compliance boxes for your state, city, and county.There are limited service property managers that will do retail tenant placement (rather than full property management, which it seems like would be overkill for this one commercial unit you manage), and this would be included as part of that basket of services.You could also hire a lawyer, but I think that property management company will be more cost effective.