Light Industrial Refinance - Alexandria, VA

My client needs to refinance out of a hard money loan.

Property is Light Industrial - 2 parcels: one parcel leases out an office building with for a roofing company and the other parcel is a parking lot and leased out to an auto repair shop that uses it for overflow parking cars only. No repairs are perfomed on the lot.

Location is highly desirable near Telegraph Rd and I-95 (Zip Code 22314)

Total combined Tax Value of both parcels is $1.2M

Payoff of Hard Money Loan is $400,000 - no other liens attached

The owner does not occupy a business on either property.

The only income to the owner are the two leases that total $5,500/mo.

Owner seeks a minimum fixed rate period of 5 years in the 7% range if possible

Excellent Credit

Contact: Joe at info@fairmarketfunding.com

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Permalink Reply by WKL David on February 5, 2019 at 11:55am

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