Commercial FSBO!!(How Do I Establish Property Value To Make Offer?)
So I Was Cruising one day and Saw a FSBO on a commercial building.So I called the seller and saw the asking price was 395,000. She said she is firm on her price(only said she would reduce by 5k)anyway so i went home to do some research on the property and cant really find what i need! Tax records only show a value of about 150,000 and because they own it out right and have never rented it out (always ran there own business out of there)I don't really know how to come up with a cap rate or the gross rent multiplier to establish value! does anybody have any suggestions on how i can come up with a value for this place. As it stands i don't know if its a good deal or not>Please Help!!!