I’m looking at a commercial office property
It is near a hospital, and two busy main roads. It has 1 month to month tenant, and 4 with a lease that expires in December. Two story building, has balcony, lots of parking,some is even covered. It has an open common area and is set up for medical office use, though to me the set up gives the appearance of an apartment building. My thought is with the hospital right there, it would be a great place to have STR units available, that are chiefly intended for the families of people staying in the hospital for multiple days, having a baby or recovery from surgery, etc. 3 or the units are vacant currently, and with the lease ending soon, potentially another 4 would become available. I have Yet to run numbers on this thought, I wanted to get feedback from outside on what kinds of issues I might encounter or not encounter. I'm gonna get some figures together and will update this post with them
Were you able to secure the property? If so, I also offer STR and MTR for hospital workers and would be happy to talk with you about it. If not, and you are still looking, I am always on the hunt for great deals and am very familiar with this specific strategy (owning two units myself) and would love to help you find your next deal :)
