Sell or lease out my commercial condo how to decide?

[nancy33]

I own a commercial medical condo and I am retiring so need to either sell it or lease it. Another very similar unit in the complex  sold for $255 k about 5 months ago.
I bought for 100k in 2014 I invested $40 k in remodeling it. Similar units are leasing for $1.50 a square foot now.
HOA went up to $425 a month.
I owe $70 k at 4.5% it is a SBA loan
I am in California property tax $1360 a year
I have enough money to FIRE so 70k would be easy to pay off if necessary.
How do I calculate what is the best idea financially?
I want to simplify life as much as possible for retirement so leaning toward selling it.
I have a current renter of one of the rooms who is interested in buying it. Meeting with her today.
I know I do not want the hassle of renting rooms to multiple clinicians.
Thank you

[lucenzo11]

Hello, been a couple days with no responses so I'll bite.

Since you are FIRE, then this should really be more about what you want to do as long as it doesn't come at a financial detriment. FIRE should mean the freedom to do the things you want to do. Seems like you want to sell it so I think you already have your answer especially since you think you'll make money on it. Are you relying on it for cash flow? If so, then that changes things.

To do an actual calculation, I think we'll need some more info, here are some questions which could help?
-What is your annual total rent that you generate?
-What is the total square footage?
-You mentioned multiple rooms, how many total units are there?
-What is your loan payment?
-Any other expenses not listed below?

Last, how did you meeting go with the renter?

[CNM]

I second what @lucenzo11  said.  It's hard to give advice without knowing more, in particular how much could you rent it for and what would be your anticipated expense in renting it.  Maybe the math makes sense for you, and perhaps you can offload some hassle by using a property manager.  A PM would, of course, impact your expense.

[nancy33]

Thank you for the replies! It is a 1200 square foot medical office condo and my loan payment is $490 a month. 
I will be contacting realtors this week.
I see a few listings nearby asking 1.50 to $2 a square foot plus NNN (which seems to include HOA and property taxes as the NNN is over  $500 monthly in addition to the rent!)
The person renting one of the rooms from me right now pays $525 a month. She decided against buying it. I gave her notice to leave by September  1 as I am not interested in having to manage multiple renters.
Yes I do not want to manage a rental my husband would be willing to fo it though.