Purchasing a biological lab space as an investment
I am interested in purchasing a building with offices and lab spaces as an investment. The lab was used for diagnosis purposes and is now cleaned. My questions are:

1. how do I research leasing rate as well as the vacancy rate for similar properties? I could not find any listing on loopnet.
2. how the lab space is regulated: i.e. will it be just simply "industrial" or local government has different rules for them. how to start researching that.
3. how to make sure the property is "clean", i.e. lack of hazardous materials.

(Edit) Location: California. 
[{"id": "h0mbxe5", "text": "You need a broker and a lawyer if you\u2019re serious. No one on Reddit is going to give you any accurate information without your domain specific details. Broker will answer question 1, lawyer will answer question 2, any company that does Enviromental phase 1&amp;2 tests will answer question 3.", "replies": [], "depth": 1}, {"id": "h0mcuht", "text": "Talk with a broker. Call who ever has a listing in the area near the site. \n\nYou can find out what the zoning is and talk with someone at the city. Use will vary depending on tenant and they have to go through their own approval process.\n\nYou\u2019ll need to do a phase 1. If you\u2019re financing the bank will require it anyways, but you should ask the seller if they have one/when it was done and the tenancy use following. I\u2019ve seen former blood banks and dialysis space and talked with people that have dealt with it - it wasn\u2019t pretty.", "replies": [], "depth": 1}, {"id": "h0me0d0", "text": "Telling us approximately where it is (state at least) would go a long way.\n\nWhat kind of clients are you pursuing?  Lab/retail, lab + sales offices, lab + display/showroom?\n\nMy experience is in the hemp/cannabis space I can tell you not all industrial lab spaces are friendly to their business or needs and any modifications they might want to make", "replies": [{"id": "h0mfi49", "text": "The location is in california. My target clients are biotech companies.", "replies": [], "depth": 2}], "depth": 1}, {"id": "h0mmiun", "text": "Biotech users have very specific requirements for their space and typically their buildouts will be very expensive and complicated.  How it is built out now may not work for the next diagnostic company.  Lease comps you get may not actually be comparable due to the different uses, build-out requirements, and TIs.  Get a broker that knows biotech users and has done lease deals with them = a specialist.  Also, be prepared to spend a lot of $ after you buy the building.", "replies": [{"id": "h0mz5ru", "text": "I\u2019ve built a few labs as a GC before. +1 to this. There\u2019s very technical requirements (BSL rating, duct systems, lab gasses, etc) that different biotech companies need that can greatly affect leaseability, as well as possible TI requirements.", "replies": [], "depth": 2}], "depth": 1}, {"id": "h0mn18d", "text": "Research the Fred Hutch Institute in Seattle, wa -- they work to support groups with Federal grants to do small/short format leases of lab space. They operate within federal guidelines to provide Researchers a streamlined environment to do their work within the needed compliance range. \n\nIts not easy nor cheap. \n\nFollow the money. The Biotech companies don't establish the guidelines for the labs, the Feds do.", "replies": [], "depth": 1}, {"id": "h0mseso", "text": "Reach out to a broker that specializes in bio science leasing. There\u2019s a ton in south San Francisco so maybe that\u2019s a good start?", "replies": [], "depth": 1}, {"id": "h0p62pp", "text": "I have an unconventional idea: find a tenant rep broker that repped a lab tenant similar to what you may chase to represent you and help with due diligence. He also may have someone to put in there then you could buy with a tenant in tow.", "replies": [{"id": "h0szvo6", "text": "if possible maybe even find one who has been involved in a sale/lease involving this property (but not repping the current sellers obviously)", "replies": [], "depth": 2}], "depth": 1}, {"id": "h0vs214", "text": "If this is in the Bay, I\u2019m assuming this is located on the Peninsula in SSF, San Bruno or Brisbane?\n\nAs others have noted biotech is extremely particular in its requirements, which can entail capital intensive TIs if the current existing space doesn\u2019t work to the prospective tenant\u2019s needs.\n\nI highly encourage you to seek professional advice on this - brokers often specialize in different market types so you shouldn\u2019t have a problem finding a good broker who handles life science portfolios.", "replies": [], "depth": 1}]