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I did the same thing about 6 months ago. I took over a lease of a finished studio.....proabbly not as nice as yours, but less overhead. Best move I've made... I was already covering the cost working out of my house....and now with a drum room, I can make more.
In this economy it might not be the best move, but I'd try and knock it down a little.
Also calculate, heating, electricity, insurance, travel.....and get a TOTAL cost per month breakdown. Seems to me it would be just over 2k a month. That's 4 days work @ $500....if you are making that now......go for it.....otherwise, stick to what you have until your client-base grows.
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