Loan amount
$850,000
Loan type
As-Is Property Value
$1,140,000
LTV
75%
{LTV}
Property type
Commercial / Retail
Borrower Details
Credit score
669
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
North Carolina
Loan Details
Additional Loan Information
6600 sq foot stand alone restaurant on 2.16 ac of land. This will be an owner occupied building. We own and operate 12 restaurants now. Purchase price $850K. The tax assessment from Lee county tax has the property valued at $1,0284M. Plus all equipment and fixtures that remained with the building is where we are coming up with the $1,14M value. We are able to put money into the deal; 10-15% if needed. Located in Sanford NC. Already in contract to purchase. We prefer a 15-20 year term.
Status
Closed
Created
December 13, 2019 - 6:21pm
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