Posted by Sally on February 15, 2000 at 18:55:54:
In my quest for a good CAP rate commercial property, I have come across a building that is used for a residential program run by the state. It has a new five year lease that at the asking price provides a 11% CAP. Does anyone have experience in this area? As far as I can tell, the set-up of the building would be of use for a nursing home or something of that sort if the state didn’t renew in five years. The condition of the property is good and they are up to code.