In the market for my second investment property. A listing just came up. 2 buildings (1 duplex) and 1 is a vacant doctors office with 6 exam rooms with an apartment on top.

Does anybody have experience renting a doctors office? Is it hard finding someone? Will this be a commercial loan because of the office?

Any tips and info would be appreciated!

Thanks!

@Jacob Lapp

I have done small mixed-use properties before and each property is a little different. I would check local vacancy rates for similar doctors offices. Remember that doctors and commercial tenants will look for different property features vs. a residential tenant. Ease of parking, easy to find etc. This will most likely require a commercial loan and it is best to check with local banks and credit unions for it.

@Charles Carillo Thanks! What resource do you trust for checking vacancy rates?

Originally posted by @Jacob Lapp :

In the market for my second investment property. A listing just came up. 2 buildings (1 duplex) and 1 is a vacant doctors office with 6 exam rooms with an apartment on top.

Does anybody have experience renting a doctors office? Is it hard finding someone? Will this be a commercial loan because of the office?

Any tips and info would be appreciated!

Thanks!

Yes this will be a commercial loan. You will want to shop several local and regional commercial banks as they are all different and offer different rates and terms. Medical office is a great use and usually good long term tenant depending on the location. Access, parking, condition of the building etc will be factors in landings quality tenant. 

@Jacob Lapp

Local brokers and property managers.