All Forum Posts by: Mike Hoefling

Anyone have thoughts on this??

That's correct however on a commercial NNN lease the tenant is responsible for their % of sq ft of the landlords operating costs. So any of my costs basically get passed on to the tenant!! I got my lawyer taking care of my lease and will make sure she gets these things in!!

I have a residential building 3 units that I want to rent directly to a business, does anyone know if I can just give them a commercial NNN lease? They will be having people live in the building. The reason I ask is because it will be rented directly to the business. Any ideas?

Thanks!

Mike

After some quick research it seems profit sharing is not common right now in the Worcester, MA market. Looks like I will be getting market rent on NNN which is a good thing especially with winter coming!!

If anyone has advice on what to add to my commercial lease that would be super helpful since this will be my first commercial lease, I am having my attorney help me as well.

Cash is fine by me!

For me it’s all about the net profits I can make, I just don’t want to get locked into a potentially 5-15 year lease at something low when I should have been asking for more. I think I’m going to be asking for a % of profits maybe higher deposits etc.

As for bad press that’s not important to me many large time landlords have bad press you can’t make everyone happy. Come to think of it it’s that way for most businesses.

That’s a good point on adding a percentage of the profit to the lease. Not sure what amount but maybe 5%.

Supply and demand as well as the legality. There are massive zoning restrictions in the city where my property is, my property happen to be in an allowable area. To me this means the price should be higher than normal for rent but that’s why I’m asking to see.

I am considering renting to a marijuana company in MA and was wondering what you guys are seeing for typical rents? I assume they are higher than the average commercial rental rates but wanted to see what you guys were seeing. The property I would be renting to them is located in Worcester, MA and commercial rates look to be around 12-14/sf.

Thanks in advance!

Mike