I’m about 15 years into a 20 year note at 3.9% on two properties in the Bay Area, CA

Between appreciation and paying down the loan, we’ve got about $1.1M in gains. We also make around $50k a year or so in additional rent payments.

We are renting to my former business partners company which he’s pondered selling.

Currently rent is bumped let’s call it 2.5% per year and would continue if he keeps it.

Any Bay Area commercial realtors here that would have any idea of future appreciation?

We’d prefer keeping it through the next 15 years at minimum, but I’ll be in line to retire then.

What strategies should w look at then, if we’d like to sell? Should we keep it?

Should we borrow against it if rates recede?

Sell and 1031 exchange into rental/vacation and then move in for a couple years and then sell as a primary?