Mixed Use property in Philadelphia

[Yuriy Skripnichenko]

I’m buying a mixed use property with a commercial first floor and apartments above it. Never had any experience renting commercial space. It’s about 1200sq.ft open space with a bathroom. A few years back it used to be a deli store, before that it was a beauty parlor. It needs to be completely renovated. The property is not in a major business street. The street has enough of traffic but it’s more of a residential area. There is a grocery sore in a property directly across the street.

So I have a few questions:

1. When you rent commercial space do you do renovations before you find a tenant or after?
2. Who is responsible for the change of use of the property (let’s say if I have a daycare moving in) the tenant or the landlord?
3. I wander if I can (if the city allows that) partition the space into a few different office spaces and rent them separately?
4. What is the best source for commercial listing in your experience?
5. Any other suggestions or recommendations on what to do with the space would be greatly appreciated.