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Commercial Real Estate Investing

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Sovat C.
  • Rental Property Investor
  • Rockville, MD
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59
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Vacant 2nd floor Commercial retail/office Space - HELP!

Sovat C.
  • Rental Property Investor
  • Rockville, MD
Posted Aug 23 2019, 19:36

Need help or some suggestions. I purchased a small retail space 3 years ago which had existing tenants, but now I have a vacancy! The vacant space needs some work and it's on the 2nd floor with stairs; no elevator! I want to try and lease it out myself but all the interested people want 1st floor space, have no credit/bad credit, or want it heavily discounted. It's about 1500 sqft in a C class building so I know i'm most likely going to get a mom and pop type business. How do I find them if i'm listing it myself. What are some good online platforms I could use. Currently, I just have a sign outside the property. Should I consider lowering the rent just to fill the space or seek a commercial broker to help. I contacted a few. One wasn't interested and another wanted a year listing agreement. I was thinking something 3-6 months or is that impossible to get? Also, what are brokers fees on commercial leases? I'm looking to do a NNN lease. Do you they typically include taxes and CAM on their commission base? If anyone has a good recommendation on brokers in the Washington DC area, please DM me! Sorry, I have lots of questions. Commercial leasing is TOUGH! Definitely not as easy as residential.

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