Office Store front leasing agreement- no clue, is it a good deal?

I am starting a business, it is a careeer school, and will attrack low income people in the neighborhood. So the shopping area I have in mind is perfect, because it is a low income area. The broker who showed it says its been vacant a while, and there are other vacancies in the shopping strip as well. He quoted 1100.00 a month, and we would also have to pay our own utilities, for a 3, - 4 year lease term (contract) I have never done anything like this, granted I have been a business owner, but was out of my home. What are the rules on negotiating something like this? The longer it just sits, they are making nada- so could i get a deal? Is there a way to find comparables by zip code on the web, for lease like this, Typically in this market, dallas texas area, what gives? Its not a good area, granted its not a slum- its ok. how to on striking a deal, is the economy in my favor. ANY and all suggestions welcome, BTY, its 700 sq ft, and in an ideal world I want 2 pay 5-600 a month.

It is very important to understand that in most leases of this type you are responsible for just about everything in the space. This includes air conditioning. The owner is responsible to provide a roof, walls, floor, building code compliance, power from the pole to the electrical box, and water from the meter to the main valve after the meter. Everything else is yours to repair. Be sure to have a full inspection done of the systems involved. Be sure utilities are in your name and not shared with other stores. If it is shared, be sure that the calculation for your space is accurate.

There is also the possibility of what is called an escallation charge. This has a base year for owner expenses for the property that can be billed back to the tenants each year. They look at the base year costs, (usually the year you lease) and compare it to present costs and allot the difference equally between the tenants based on square footage.

Contact several commercial property leasing companies. The best would be to have an agent act for you in this manner in order to be sure all of your rights are protected. I strongly recommend this since this is your first experience.

Go to www.loopnet.com and check out other leases there. You mention other vacancies in the area. Call all of them and find out what the going rate is in that specific area. Yes, anything in negotiable. The can ask all they want, but it is what you are willing to pay that counts. $1.00 per sq.ft. plus triple net, (trash, water, maintence fee for the people sweeping the lots, sometimes even a tax pass-along) will quickly add up to a lot more than $700 per month for this 700 sq.ft. space. If that is your comfort level, then that is what you offer. The other way to negotiate this is to offer the $1,100 per month - all inclusive. They pay all other costs.

On Loopnet.com, you will find other commercial brokers who are doing business in the area, as will going up and down the street and talking to the other vacancy agents. Have one of them negotiate for you if you are not sure of yourself. Strip Centers are not the cheapest places to rent; you may want to reconsider, all though they are not cheap because they do bring in large amounts of foot traffic and that is what you want -visibility.