Loan amount
$1,150,000
Loan type
As-Is Property Value
$1,350,000
LTV
86%
{LTV}
Property type
Commercial / Retail
Borrower Details
Credit score
750
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Maryland
Loan Details
Additional Loan Information
Seeking to move my outdoor bbq business of 20 years into the 6000sf turnkey restaurant building. The building is located directly across from the parking lot my bbq business is located in. Looking to sub-divide the building into 3 retail spaces. Already have companies/businesses interested in renting. Purchase price $1.35M. Putting down $200K. No contract yet; working on that now. Located at 8209 Liberty Road, Randallstown Maryland 21133. Estimated monthly rental income is $12K. Current monthly income of business operating only on Sundays is $15K. Estimated monthly income in the new building is $60K. Will take 30-45 days to transition into the restaurant. Looking for the longest term possible. 10 years max.
Status
Closed
Created
January 21, 2020 - 5:09pm
Hard Money Lenders Now Offering Real Estate Investor Loans in Maryland Baltimore | Frederick | Rockville | Gaithersburg | Bowie | Hagerstown Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans