Simple NNN' They Said. It'll Be Easy, They Said.

Owner: It’s turnkey NNN Lender: Great, send 3 years CAM reconciliations, estoppels from tenants who moved to Guam, and a Phase I that can see the future My Excel: NOI says $1.2M, plumbing says ‘nice try’ Expectation: 6.0 cap. Reality: 6.0% vacancy… per month 🥲 Title at 4:59pm: Surprise lien from 1987. Broker at 5:00pm: “We still on for Friday?”