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Updated about 14 years ago on . Most recent reply

User Stats

54
Posts
12
Votes
Michael S.
  • Rental Property Investor
  • Dayton, OH
12
Votes |
54
Posts

Buying Commercial Land

Michael S.
  • Rental Property Investor
  • Dayton, OH
Posted

I am in the process of trying to purchase a piece of commercial land with owner financing, at which point I'm going to try to lease it to a corporation (restaurant chain).
I will be getting a private loan for the 20% down payment. Probably going to be in the neighborhood of a 375k purchase price total (around 75k down).

My question is, how can I determine the average rent to charge the incoming lessee? Can I find out how much neighboring restaurants are paying monthly for the land to have some viable comps?

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