What maintenance costs are involved with mid-size offices?

[michael]

I have stumbled across a listing for a three story office (Australia):

Vital stats:

• Circa 9% cap rate.
• Circa 2500 sqm (25k sqft) floor space.
• Circa two decade lease (with options considered).
• Near new building so it has tax (depreciation) benefits.
• Lessee has 100% of property and has no chance of default or bankruptcy.
• Solid access to transportation and in an area primed for economic expansion.

I know at least a dozen people who have the means to put $1m down (in return for equity) if they like the way I could structure this deal. Assuming I could secure this $1m down it would cashflow about $50000 annually and be paid off by the end of the 15 year lease.

I am young and I have never done a real estate deal before but I am confident in my ability to analyse a deal and liaise with a partner and the seller. My first step will be to do research on the area, local property taxes, property history and speak to local tradesmen to determine what costs exist for maintenance of building services.

After I get a good idea on these figures I guess the next step will be to contact the real estate for a prospectus and to determine what portion of expenses are paid by the lessee.

Can anyone give me a rough idea of what it costs to maintain to following:
-General maintenance of a new 25000 sqft building (exterior cleaning, painting, damaged fixtures, windows, railings etc.).
-Maintenance and certifying of HVAC, electrical security and fire systems.
-Maintenance and certifying of a three level personnel elevator.

Obviously the costs will vary greatly across different states and especially nations. If there are any areas I am completely forgetting about can you please let me know. Also if anyone can give me some general advice to investigate this deal I'd appreciate it.

 

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[michael]

Uj, gsun xjev O tii up jisi O hiv vji giimoph vjev dsifov ot tvomm iyvsinimz vohjv (emnutv gsubip) op Enisode.

Iwip vjsuahjuav vji huuf vonit tvepfesft gus mipfoph op Eatvsemoe xisi tvsodv (xi piwis jef tacqsoni cussuxist epf xi piwis jef mux/pu fud muept) cav O fup'v tii e detj gmuxoph dunnisdoem qsuqisvz xovj e tumof mittii epf detj qesvpis cioph e tdesz qsutqidv gus mipfist.

Et gus qsuqisvz optasepdi vjev vuu ot tunivjoph O en huoph vu jewi vu opwitvohevi egvis siraitv e qsutqidvat gsun vji siem itvevi.

 

[Motivated]

Xjisi op Eat ot ov nevi? O'n ep Eattoi vuu cav nusi opvu sitofipvoem SI caomf epf gmoqt, O xuamf ci opvisitvif up jux vjot fiem qept uav gus zua iwip vjuahj O dep'v uggis epz fidipv efwodi gus dunnisdoem.