Updated almost 8 years ago on . Most recent reply
Buying a warehouse used for storage - questions to ask
I have an opportunity to purchase a warehouse that looks pretty strong based on the numbers and rent roll I've been given by the current owner. I have a list of the improvements and conditions of the property as well. I also have a list of questions I've generated which include:
1.Why are you selling?
2.Do you have a pro forma available?
3.Schedule E Income and expenses for the last 3 years?
4.What is the zoning?
5.Any major issues with the building?
6.What can you tell me about the mechanicals?
7.Do you have lease info?
8.Who are the tenants and how long are the leases? Rent roll available?
9.What do the leases include?
10.Does it have a clear title?
11.Are there any environmental concerns? Phase II environmental assessment available?
12.Are there any liens, expired permits, back taxes, etc?
I am going for a site visit this week and am wondering what other questions or info would be important to have or find out. Any help would be great. Thanks!