Refinancing a NNN building

[Raj Singh]

A C corp I own owns a NNN lease with 7.6 years remaining to a regional dental provider. It is fully paid off building located in Detroit area, generating about 140k/yr net. I was thinking of refinancing and pulling some cash out as downpayment for another property.

What are the profile of banks/unions I should approach? What is the expected rate and how much of the building price would they refinance for? Thank you in advance.

[Jeff Matlock]

I am a commercial mortgage broker in California.  I would expect local and regional banks to have rates around 4.00%.  25 year amortization. 5 or 7 year fixed rate term.