Analyzing a owner occupied commercial office space
I recently bought a medical office building and am in the process of owner occupying a portion of it. The whole building is 5100 sq ft. I have a tenant who has 1500 sq ft. I intend to occupy 1000 sq ft. I had my agent list the remaining space for lease. I am negotiating with a property management company, and was given terms of 4% rent collected, which is fair. I wanted to ask them to keep the owner occupied portion out of the 4%. Is that reasonable?