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Commercial building purchase - do you get an inspection?
I am purchasing a unique property that is a mixed-use commercial and multifamily. This is my first deal in the commercial/mixed-use space. I come from the residential investment where I always get inspections on the properties I buy. I was going to do the same for this property and I was surprised by the pricing. It is a 10-unit multifamily and a 8000 sq ft commercial building. I got the quote back for:
Property Condition Assessment: $4800
Commercial Building Inspection: $2300
Phase 1 - Environmental Site Assessment: $2000
Capital Replacement Study: $750
For all you seasoned commercial/mixed-use investors what would you pay for as far as inspections, assessments, etc? Are some an absolute and others you just pass on?
Thank you!
Adam