Loan amount
$115,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$84,500
{PP:$125,000}
LTV
136%
{LTV}
Property type
Gas/Convenient Station
Borrower Details
Credit score
699
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Chase Mills
State
New York
Loan Details
Purchase price
$125,000
Down payment
$10,000
Additional Loan Information
This is a convenience store/food service.It closed down 8 months ago do to aging owner wanting to retire. I am looking to purchase and retain to open the business back up. It is a turn key store that just needs inventory. It is the only store in the area. I am in contact with the owner. The store has gross sales averaging 1 - 1.2 million dollars per year over the last 3-4 years. This store also come with many assets within, coolers ovens fryers etc... The store has many new upgrades also, water heater, septic, well etc.... I will be operating this store with my fiancé as she is from that area. We are both seasoned managers currently in warehousing with me having background in food earlier in my career.
Status
Open
Created
July 10, 2021 - 7:28pm
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