I have a property zoned agricultural that I plan to lease out as commercial. It’s a 5 acreage lot with a house 2300 sf, 3 commercial garages and 3 mobile offices that sits adjacent to the house. The previous owner used it as an automobile paint and body shop for 9 years. How do I known how much to lease the property for? Assment value is 250K purchase price 73K cash. I plan to cash out refi with commercial mortgage @200K with 4.5% interest rate
It’s the perfect setup for some one to live in the house and operate a paint/body auto mechanic shop.