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Updated over 5 years ago on . Most recent reply

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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
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Commercial Condo Financing Typical Terms

Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorPosted

Does anyone know what the typical terms for financing a commercial condo are?

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District Invest Group
5.0 stars
44 Reviews

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Joel Owens
  • Real Estate Broker
  • Canton, GA
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Joel Owens
  • Real Estate Broker
  • Canton, GA
ModeratorReplied

Usually a local bank for that type of stuff. Might could get a 5 year fixed with 25 amort. Probably 35% down. Might want to try owner finance instead. It depends on if the condo is for your business, a small mom and pop type tenant, or investment grade tenant like a Starbucks, etc.

Most lenders in commercial won't touch a loan less than 1 million and do not like the mixed use or condo type stuff where it's fractional where some owners are owner operators and others are investors renting out the space. I have a larger retail center down the street in my subdivision at the road I would like to buy but it's retail condo with a mix of business owners versus investors. Too much hassle to deal with that. If you are not majority owner for controlling declarant you have to pay special attention to ongoing operating costs and any pending special assessments. The income generated often off of these smaller spaces in rent does not justify the overall price.   

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NNN Invest
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