Deal Analysis/ Mixed Use Property

[Dana Cavalea]

Hi all- going back and forth on a mixed-use property we have under contract. 

Purchase Price: 365k

7- 1 bedroom apartments 

2- Store Fronts (rented to same tenant)

Current Roll: $65,640 / year

Current Expenses: $24,000/ year

Mortgage @ 7.99%: $24,000/ year

NOI: $17,640

Rent potential: $76,200

New ROI w/ increased rents: $28,200

*loan terms: 30 years, 7.99%
7 year hold or penalty of: 
5,4,3,2 1,1,1%
~ 13.5k in closing fees with private lender

First time doing a commercial property so please poke holes. 

This is in a semi-rural town- but has small city of Binghamton NY not far away.

One of my concerns is that the retail tenant is responsible for the majority of the profit on the deal… 

Thanks!