Industrial Building Walk Thru - Tour - Investment Purchase
Hello, I am considering the purchase of a $2,000,000 Industrial Building. I own multi-family, and retail however Industrial will be a new asset I will be buying. I have a tenant lined up, but not sure what exactly I should be looking for in the tour to make sure this is the right decision for me. 

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In terms of  valuation, I like the specifics and the deal. I'm just not familiar what exactly to look for in the building to be satisfied for purchase. 

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Thanks!
[{"id": "gfckee7", "text": "What was previous use? Does it have a clean phase I/II? \n\n&amp;#x200B;\n\nAge of roof is a big one.", "replies": [{"id": "gfcln2f", "text": "Yes clean phase 1 &amp; 2. Roof is fairly recent \\~8 years.", "replies": [], "depth": 2}], "depth": 1}, {"id": "gfeecql", "text": "Not an expert but the best asset class in RE has to be Industrial RE..! Good call to invest in Industrial. \n\nCrux of success is to do a few big things right(80-20 rule)", "replies": [], "depth": 1}, {"id": "gffib0g", "text": "Renovating aging class C industrial is my primary business last few years.\n\n-Roof age, as mentioned. Does it drain ok? Active leaks? Does water pond against building or flow/drain away?\n\n-Is it sprinklered if greater than 12,000 sq ft? Does the riser have a current inspection tag, same with the fire alarm system? Fire Marshall could give you headaches on new tenant if not. Repairs and/or replacement add up quick.\n\n-Does it have both semi tailboards and drive in doors/ramps? Does it have dock levelers and do they work? If it's an old building, are the docks ~50\" above grade or 60\"+, which means you'll be pouring concrete ramps to get in range of your new dock levelers?\n\n-If there are interior walls you plan to gut on permit, test the drywall for asbestos. If you're doing it off-permit, just tell the seller you bet they have asbestos to give a lower offer, and then don't test \ud83d\ude2c\n\n-Is there enough parking for typical uses? I saw someone chop off the parking from a 100,000 sq ft bldg and sell it separately. Then there was literally no parking for the building to get a use permitted.\n\n-Is there enough power for your tenant? New drop and switchgear is expensive. Typically this is a YES bc upgrading to LED lights frees up a lot of the original load.\n\nNothing is a deal breaker except phase II bad soil, IMO. Just factor in the cost to fix above.\n\n\nPersonal plug, if anyone is selling distressed industrial in a QOZ, DM me...need to place funds.\n\nETA: line breaks on mobile PITA\n\nETA 2: -ZONING. Make sure your tenant use is allowed.\n\n-Clear height. I try to stick to 20' + but I'd say at least 16'+ is alright. Below that and use is limited. You could also look at bay dimensions between columns but that's less critical unless super crowded.\n\n-Construction material: Tilt up best, then CMU. I typically avoid metal buildings but if the price is right that's ok. \n\n-Outdoor space. Is there room for a fenced yard, or does one exist already?\n\nEach feature is another leg on the \"re-tenant\" stool. Tenant requirements vary wildly in industrial, so the more boxes you can check, the easier to keep in occupied.", "replies": [], "depth": 1}, {"id": "gfvv3qq", "text": "I posted an intro video for industrial leasing. Are you concerned about physical plant or title inspection? Check survey, easements, LURA, deed restrictions, zoning, etc. Any existing leases?\n\n[https://www.youtube.com/watch?v=YFVMAnFbn7o](https://www.youtube.com/watch?v=YFVMAnFbn7o)", "replies": [], "depth": 1}]