Loan amount
$2,592,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$4,000,000
{PP:$2,592,000}
LTV
65%
{LTV}
Property type
Restaurant/Entertainment
Borrower Details
Credit score
650
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
McDonough
State
Georgia
Loan Details
Purchase price
$2,592,000
Down payment
$0
Additional Loan Information
The property consists of 2,584 square feet of building space and is situated on approximately 1.00 acre of land. The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the day following the close of escrow. The lease will call for rental increases that will be the lesser of the change in CPI or 1.25% annually starting in Year 3. The rental increases will continue through the base term and into the six, five-year tenant renewal options. The lease will carry a guaranty from Meritage Hospitality Group, an experienced 337 unit operator and the second largest franchisee in the Wendy’s system.
Status
Open
Created
July 16, 2021 - 11:11pm
Hard Money Lenders Now Offering Real Estate Investor Loans in Georgia Atlanta | Augusta | Columbus | Macon | Savannah | Athens Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans