Looking for a commercial lender for a deal in Fall River, MA. I have a sale leaseback deal with a single tenant that will sign a ten year lease. The numbers net out to an 11+ Cap Rate. Industrial property with several thousand square feet of vacant space that could be used for development.
Any recommendations appreciated!
How is the credit of the tenant? Is the lease NNN or is landlord responsible for roof, HVAC, etc? Would your tenant client consider long than 10 years, maybe 15? I can help you value the asset if you'd like.
Tenant is a private company but lender is free to examine their solvency for purposes of covering lease. Lease longer than ten probably unlikely. Happy to chat with you tomorrow.
What's the purchase price? Do you plan on leasing the vacant space or developing the vacant space into some other use? Financing deals of this nature is what I do on a daily basis and could most definitely point you in the right direction, but would need to know more of the specifics. Feel free to direct message me and let's chat.