For many law firms, accounting practices, architects, schools and studios, the office building is a retirement asset as much as a workplace. When partners change or a loan comes due, the building needs a plan just as much as the firm does.
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Partner buyouts can be financed
When a partner retires, the remaining partners often need to buy out their share. An SBA 7(a) loan can finance a partner buyout, usually over 10 years. For example, an $810,000 loan at 10% over 10 years is about $10,704 a month, spread across the partners who stay.
You can lease extra space
If your firm doesn't use the whole building, SBA rules allow you to lease up to 49% of an existing owner-occupied building to tenants. Rent from that space can offset a meaningful part of your mortgage.
Office loans are maturing at higher rates
On a $2 million balance on a 25-year schedule, the payment at 4% is about $10,557 a month. At 7% it is about $14,136, roughly $43,000 more a year. Starting the refinance 6–12 months early gives you time to compare lenders and fixed-rate SBA 504 options.
Your options
- Refinance the building, including fixed-rate options through SBA 504.
- Finance a partner buyout with SBA 7(a).
- Lease extra space to offset your payment.
- Sell, or sell and lease back, to free up equity and stay in your office.
Questions to ask now
When is your building loan due? Is a partner planning to retire? Do you use all of your space? Is the building held by the firm or a separate LLC? Who will own it in 10 years?
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Examples are illustrations as of October 2026, not loan quotes or appraisals. Rates, terms and eligibility change, and all loans are subject to lender approval. This is general information, not legal or tax advice.