Yonkers, NY warehouse / automotive / storage / auto repair, what is going rental rate
Closing soon on an 8000 sq ft commercial (CM zoned, light industrial)  building in Yonkers NY. What is the going rental rate per sq/ft monthly for this type of property. One unit 1800 sq/ft Auto repair shop with busy street frontage, Should I keep this as auto repair or change to cleaner industry?  One 2nd floor unit 1500 sq/ft currently set up as a gym/ workout area. Two tenants currently month to month.
[{"id": "hukor8b", "text": "I would love to hear your story on this. I am always curious to know the backstory on people buying commercial property without knowing the numbers going in to it that would make it work.\n\nNot capping on you at all, I'm genuinely curious as it's pretty much the opposite to how I operate. I always have rental rates, traffic counts, demand, saturation, and any other information and/or financials before I even look at a property.", "replies": [{"id": "hukzoop", "text": "IMO they usually come from residential, have a bit of cash, get an off market deal that is \u201cbelow replacement cost\u201d then they think leasing commercial is as easy as placing a $1,500 resi tenant. \n\nSeller says \u201crents are way below market\u201d and Buyer\u2026.believes them, no other DD, etc.", "replies": [{"id": "hulxyf1", "text": "I'll add to that and say that another issue is the mindset that MF equal CRE. I know it is generally treated that way in lending, but I feel that all too many folks think; \"I have six doors of residential so I'll just buy this four suite retail strip, 'cause it's the same thing!\"", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hukz47v", "text": "A milli", "replies": [], "depth": 1}]