Potential Commercial/Apt building deal...What do I need to know?

3 Replies

Hey everybody, I'm looking into a Commercial property right now that has a

-12 unit apartment building

-parking lot with 50-60 spots

-4 garages

-a church that can hold 350 people

-a small school w/ cafeteria

-an office building attached to school

-1 vacant duplex

-1 vacant single family home

I believe the apartment building right is fully rented. But everything else vacant.

However my real question is what are some things I need to know/questions I need to ask before I know if this is a good deal. I have a couple people I know would be interested in investing but before J start raising capital wanted to know whether this is a good deal or not. I plan to meet with the broker soon but want to be as prepared as possible so I dont sound like an idiot.

They're asking for $1.2M, I'm not sure of the current cap rate. Over 49000 sq ft.

I've never done a deal on a commercial property before so I'm trying to get as much education as I can. Please help, Thanks

Originally posted by @Jacob Rivera :

Hey everybody, I'm looking into a Commercial property right now that has a

-12 unit apartment building

-parking lot with 50-60 spots

-4 garages

-a church that can hold 350 people

-a small school w/ cafeteria

-an office building attached to school

-1 vacant duplex

-1 vacant single family home

I believe the apartment building right is fully rented. But everything else vacant.

However my real question is what are some things I need to know/questions I need to ask before I know if this is a good deal. I have a couple people I know would be interested in investing but before J start raising capital wanted to know whether this is a good deal or not. I plan to meet with the broker soon but want to be as prepared as possible so I dont sound like an idiot.

They're asking for $1.2M, I'm not sure of the current cap rate. Over 49000 sq ft.

I've never done a deal on a commercial property before so I'm trying to get as much education as I can. Please help, Thanks

You have a lot going on here. It will be nearly impossible to advise you with the limited info provided and through a few posts here.

First question is can you qualify for a $1million loan and or raise the capital?