How much should I expect to be paid for a lease buyout?

I recently purchased an office condo leased to a bank for 3 more years at $1500/ month. They no longer occupy this property and have approached me about buying out the lease and I don't know how much to expect. I have a tenant to replace them as soon as we have this completed.

3 years at 1500 a month means they are legally obligated to pay you another $54,000. (rent until the end of their lease term) so to terminate their lease at their request you can negotiate any amount you wanted really. Since you've already lined up a new tenant, you won't be losing any money and if you held them to the full amount there would be no benefit for them. I would let them out of the lease for a year's rent ($18,000) for "insurance" just in case your new tenant doesn't work out. If they are the ones making the offer, then let them approach you with a figure first and go from there, but I wouldn't accept any less than a year's worth of rent.

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