Lease Question

Isidar

Registered
I'm in a city of 50,000 people (college town) that doesn't have a pool room and I'm looking to open one. The property I'm looking at is asking $12/sq foot rent per year with $6.70 TMI (taxes, maintenance, insurance). Is that pretty typical? On a 4700 square foot property I'm looking at $7500+ per month based on those figures which sounds like a lot to me but I've never rented commercial space before.

My city has a good amount of commercial space available and this space in particular has been vacant for around a year. How much negotiation room would you say I have? There's a space about a block away that is 3000~ sq ft for $8 but isn't as good (in my opinion).

All opinions are welcome, thanks!
 

ctyhntr

RIP Kelly
Silver Member
Have you thought about consulting a commercial real estate agent or broker? Knowing the local market is their job. If you want to avoid potential conflict of interest (representing both buyer and seller), avoid dual agency shops.
 
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