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Matthew Purvis
  • Rental Property Investor
  • Old Orchard Beach, ME
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Maine Commercial lease agreement

Matthew Purvis
  • Rental Property Investor
  • Old Orchard Beach, ME
Posted

Hello all,

I purchased a commercial property back in November 2021. The lease is about to expire. Does anyone have a legal commercial lease for a market/deli or know a good place to get one? They do sell beer to go but no beers are on tap.

I am also wondering if anyone knew if I needed a special lease for this?

Also what is a reasonable jump in a rental fee for a commercial property?

The current rent is 1850+++. I am think of creating a three-year lease where the rent goes up by $125 every year to get closer to market value.

Most Popular Reply

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5,415
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Ronald Rohde
#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
2,297
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5,415
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Ronald Rohde
#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
Replied
Quote from @Matthew Purvis:

@Ronald Rohde thank you for getting back to me. I have established parking spaces for the deli but no paint has hit the asphalt yet. It is not a triple net lease. I plan to keep it fairly traditional these tenets could be there for a long time. There are several rules and regulations I will have in place. I do feel more comfortable now that I have a contact the attorney. Like I said this is my first commercial property so I am learning as I go. I appreciate the feedback. 


 No problem, you'll keep learning as you go. The key is to never be forced into a fast decision. You always need equity and time to make the best decisions for the longest time horizon. 

  • Ronald Rohde
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