35 cents a square foot sounds low. I’m in the mid-west and snow plowing alone can drive up CAM more than 35 cents. My concern here is you said the owner does nothing. You may want to plan on doing everything if you rent this place. So if the roof leaks will the owner fix that? Who’s picking up the trash in the common areas? Does the property look neglected? That alone could scare off good customers and bring in the trouble makers.