NNN property a long term development play?
I own a few multifamily rentals and have been exploring single tenant NNN opportunities. Does anyone who buys these look at the long term conversion or development of the property in the event the tenant doesn't renew after the lease term?
That seems to be the biggest downside. I have looked at a few dollar general deals in the 1-2MM range with 10 years left on the lease term. It would be a very expensive piece of real estate to own if you couldn’t re-lease or develop.