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Suggested Yearly Rent Increase
Hello All.
Question on suggested retail rent increase. The applicant is asking for a 3 year lease with a 3 year option on a 1000 sqft retail strip mall corner with parking, bathroom. Going rate is about $1.8-$2/sq ft.
6 units total
Does anyone have a suggestion on a rent increase in So Cal Pasadena area for such a lease?
Modified Gross (they pay for elect and their own liability Ins), landlord pays for partial common elect, water and Prop Ins and Prop Tax.
Thanks
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