Commercial Real Estate (NNN leased proeprty) Investment advice?

Hello. I am considering investing in a retail property that is NNN leased to a very solid national tenant (7-11). This would be my first commercial real estate investment and wanted to obtain some advice.
1) The property is leased for 10 years with 3 5-year renewal options. Rent escalation are 10% every five years with current cap rate of 6.5%. Is this a reasonable price for a NNN property?
2) In looking at my returns, what should I assume as my interest rate and closing costs. I'm assuming a interest rate of 6.5% - is this reasonable? I have excellent credit and am willing to put 20-25% down.
3) What other initial costs might I incur? I'm thinking maybe attorney fees to review the current lease and the cost of setting up a corp or llc. Am I overlooking anything?
4) What other costs might I incur on an ongoing basis? I've just thought about attorney and accounting fees - am I missing anything?
5) Any other gotchas or things I should be aware of?

Thanks for your help.

Cap rate of 6.5% on a NNN lease is not bad, especially since 95% of your responsibility with the property is taking the check from your mailbox to the bank. I would consider putting less down if possible, increasing your CCR (cash on cash return). Having an attorney look over the documents is a good idea, especially if he/she doesnt charge you $800 for some light reading on the office sofa. Setting up and LLC is a good idea simply to limit your personal liability (you dont want to be sued personally for someone falling on the ice in the middle of the parking lot.
Look at the area of town....does this store bring in good customers or is there possible damage to your building because of problematic people?....what about traffic flow...can people get to the store easily?..Is it on a hard or soft corner?......

Happy Investing