[brudgers]

People think there are ways for the market to produce non-market outcomes. And don’t realize the scale at which market makers operate is qualitatively different from normal experience with real-estate. For big money quick profits are a problem.

[Spooky23]

As a layman, it almost seems like a either “quick profit” or “zero risk”.

A family friend opened a bakery. Finding a storefront was an insane process, in some cases it’s apparent that the landlord doesn’t want to rent out the space, it’s been vacant for 4 years and rent is... aspirational.

[brudgers]

Four years is nothing on a multi-generational investment horizon.

Any real-estate pro forma will include a vacancy rate.

If a person owns ten storefronts on a block, discounting one lease sets a lower rate for the nine other leases.

If a business can't afford the lease, that is a problem with its cashflow and/or access to capital relative to its aspirations. Often the landlord can simply take depreciation and meet its IRR targets. Particularly if the landlord is unleveraged. The building and land aren't going anywhere. That's the nature of real property as an asset class.