Investor · Fairfax, VA · Member since 2015 · 1k+ posts · 796 votes
I want to hear from those who have a neighborhood office building. This could be a building with retail on the bottom and office on the top. It could also be just entirely office. Tell us about your list of tenants. An example would be an office building that has 4-20 units. These units could be leased out to a dentist, lawyer, doctor, association, title company etc. Generally speaking these buildings can be 1-3 stories high with square footage between 1-3K for each unit. Let's do a deal deep dive and learn about this asset class that no one talks about.
Investor · Fairfax, VA · Member since 2015 · 1k+ posts · 796 votes
3y
My neighbor actually buys these buildings about 1/2 to 3/4 full and then leases them up at almost 100%. Not sure what the thirst is for these as a flip, but if your willing to do a little work on the leasing side it could give you some nice cash flow. My neighbor says the tenants are sticky and generally aren't swayed by the economy. The advantage of neighborhood office is the size, affordability, and location. The central business districts are the ones with large office buildings in downtown with little or no residential around it to support it.....These are the asset classes that are hurting right now.