First Commercial Property
I was just told about a commercial property (Garage type setup) its about 7 units in back and a large unit that is a Church in front. Its approximately around 18000 sqft.
My father currently rents one of the units which is a large garage about 500 sqft and told me the owner is looking to do a sales contract with 10% down. I have no information other than that.
My question is, before I reach out to the owner of the property, this being my first commercial property what questions should I ask him to know this is a great deal to pursue further?
Also, in doing my due diligence what steps should I take and resources should I use in helping me make a logical decision?
Lastly, if I decide this is the deal for me, what steps should I take? Should I go with a management company to handle it since I do live 100 miles away from the property?
Thanks all in advance for any advice given!