Since i am in florida, If i found a vacant single tenant commercial property,and lets say it used to be a liquor store, Could i do a master lease option with the owner and do a sub-lease with a national tenant? And if i can, what type of retail tenant would be good for this type of property?
Master lease is an option. I am not familiar with the Florida market, but the "ideal tenant" depends HEAVILY on location, surrounding business, size of the space, condition, and price point. Any type of retail tenant could hypothetically lease that property. I would recommend locking up the property with a contract then seeking a commercial broker who focuses on tenant leasing and has them represent you. This will allow you to see the process run, reduce vacancy, and get you prepared to do the next few on your own. You can definitely do it yourself and you may enjoy that more, I just think it may be more beneficial for you based on the vagueness of your question.
@Michael Glaspie Thank you sir. you are absolutely right, i didnt even think about brokers. I dont know if you are familiar with Cherif Medawar, he's into the single tenant commercial real estate. Finding vacant single tenant buildings, and putting them under contract, and then sub leasing to retail tenants, is more or less the method. I love his strategy, because it seems very lucrative, but i don't have 7 stacks for his program. So if i can do it without having to pay that, then that's the path I am on. So you just helped me get further down the path with your answer my good sir! if there is anything else you can tell me, i would greatly appreciate it. I so thank you for your time.
@Joshlee Ulysse I have not heard of Cherif, but the strategy seems solid. I do enjoy commercial real estate. This is going to be a solid journey for you, I would just say keep reading more about commercial assets and trends. You will see certain submarkets can support higher rates for retail vs industrial etc. I am assuming most of yours will be retail and potentially office. You could try to secure NNN leases from the clients, but I am not sure if you could do that in a sublease if that wasn't the original agreements with the owner. Yea there are a few questions I have about that, but either way it is very similiar to what Ron Legrand is popular for in the single family space. Potentially, you could study his material at a much lower rate and apply it to the commercial side. Best of luck.
Put in 7 Eleven, or a nationwide convenience store, NNN lease, with a corporate guarantee. Cherif Medawar is a great resource for repositioning single tenant retail