Posted by Don Dion on July 31, 2003 at 10:16:45:
Here is a site that offers commercial listings online:
As for the financing most strip center loans are to high for local banks which prefer loans of less then 1mil to a single client. The norm is 20% to 25% down depending on cashflo , debt service 1.25, vacancy 5% to 10% and a cap rate of about 10.5%. The owner financing idea brought a smile to my face and a shake of my head. This type of property is not for the newbie investor. If you dont have the deposits to carry you when you loose a tennant, even if you get one quickly the build out time to install them will put your center in serious trouble with your lender.