Those expenses would also apply if you lease space. I personally don't think you can make enough money each month to break even and the employee problems alone would discourage me. If it fails while under a lease you still have to pay the lease. If you own the building you just resell it and (in today's market) you should get your money back, assuming you didn't overpay for the property.
What I am describing would be on a very busy street. One of those homes that the owner can't sell because of the traffic. Having worked with planning and zoning boards I think a good case could be made for conditional Zoning or a variance. Whatever we do at the building would have minimal impact on a neighborhood.