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If I were you I'd want to bring in someone with specialized Local expertise. Especially if you are handling the other aspects of their web presence, you probably don't have the time to research how to handle their entire Local presence in that market. Local has its own guidelines and rules and if you start without some knowledge of what you're doing you could make it worse. However, if you can put in the time to properly research this you can go that route too. Since it's a big client for you it might be good to bring in someone as backup.

Great response from Andrea, she covered a lot of bases and tools to use. You definitely must know what you would be getting yourself into with a mini-audit of the website. Don't forget to ask questions and guage how much your potential client knows about SEO. (Obviously, they know a bit about it to contact you.) But find out if they use analytics, and if so, do they monitor it at all? Do they know how much traffic they get? Are they currently tracking conversions? What goals do they want with the site: six months from now, one year from now? Do they understand the importance of quality content, video, or even PPC?

It's important that clients understand that SEO is not defined as magic dust. Asking questions can sometimes reveal unrealistic expectations (or it can show that a client did their homework, too) and this helps you be prepared for your future potential client.

Generally, bounce rate means someone landed on your site and left, without visiting any other pages. To improve bounce rate you have to figure out why people are leaving. FIrst scenario: Someone landed on your site and did not find what they wanted. Second scenario: Someone got to your site, got their answer and left. In the first case, you are not answering their query, which means your page is not relevant to their search. In analytics you can look at your top Content and see which pages are the most visited. I would start here in order to identify which pages have the highest bounce rate. Make sure those pages give users what they are looking for. Not sure what industry you're in but I don't think 45% is necessarily bad, and bounce rates vary depending if it's a legal site, ecommerce, etc.

In the second scenario, if people find what they want and leave, then identify the action you want them to take. Sometimes, the only goal is for someone to call you and if you have good call-to-actions then maybe this is what's happening. If you are not converting then you have to dig deeper and identify what's going on. (Not certain, but I think you can use Funnels in Analytics to identify how users interact when on your site.) Make sure there are other elements on the page for users to contact you, visit your Facebook page, sign up for your newsletter, etc. Also look at your top keywords and make sure they are on target (relevant) for your pages.

This is assuming your site has good design, structure, etc.

From other threads, it seems that iframes don't pass link juice. However, many people place links after the widget code.

Here's an earlier Moz thread that might give you some answers: http://www.seomoz.org/q/how-to-get-seo-juice-from-a-widget-iframe

Hope this helps.

I think as far as SEO value, what you probably don't want is a merge of the listings if you create them. If you had unique suite numbers and phone numbers you might be able to create a listing for each and avoid a merge. But since each is using the same suite number this would likely not work well at all.

I'm not an authority on Local or G+, but what I know is that Google for one does not handle multiple businesses and same address all too well.. There is a lot of information on Local listings with multiple businesses, but below is a previous Moz Q&A that might give some insight.

http://www.seomoz.org/q/local-seo-how-to-handle-multiple-business-at-same-address