I scrub the list to remove things like properties with a mortgage, duplicates, etc. and spend a tremendous amount of time on pricing, because although these offers may be a lot less than retail, they are not out of the question.

The tenant is a retail establishment owned by a very large profitable listed company. 

These are only some companies I checked so check further yourself ... usatech ... washlaundry ... laundrycard ... and 123laundryshop (retailer).

So I'm a full time student, but I've been working the same job in retail for the past 3 years.

My family and I own several single family and small multifamily properties all on the same block in Jasper, AL. All properties are owned free and clear. Our community is underserved with nice, non-section 8 apartment ...

However (and I'm no retail expert), strip malls with good locations and anchor tenants are actually doing OK according to a couple clients here.

I know first hand of a lot of distressed commercial (retail, office, hospitality). 

No problem @Jonathan CraigIn my case I bought a SFR that was in need of cosmetic rehab for about 50K below retail.

Susanna, I'm not sure if you mean large multi-family housing or multi-tenant commercial (i.e. industrial spaces, flex spaces, retail spaces, office space, etc.). 

Cap rate of 8.37 is likely mom and pop tenants to maybe a few regionals.14 tenants in a retail center is a TON of work.Check if you are allowed to be a property manager for him in your state without being licensed.