Hi all,
Just needing some advice about a commercial property I bought 6 years ago for $1.2M.
I bought it with a current 10 year lease with a multi national, the current lease has 2.5 years to go before it expires. Current rent is $98K.
The current market rent is 65K without this tenant due to a decrease in demand. I spoke to the agent and he said i would able to sell it for $1M.
Now my dilemma is do i keep the property and sustain a decrease in rental return in two years or do i sell nowand sustain a loss of 200K.
Thanks Michael
Just needing some advice about a commercial property I bought 6 years ago for $1.2M.
I bought it with a current 10 year lease with a multi national, the current lease has 2.5 years to go before it expires. Current rent is $98K.
The current market rent is 65K without this tenant due to a decrease in demand. I spoke to the agent and he said i would able to sell it for $1M.
Now my dilemma is do i keep the property and sustain a decrease in rental return in two years or do i sell nowand sustain a loss of 200K.
Thanks Michael