Updated almost 13 years ago on . Most recent reply
please analyze this deal
A retail building right on highway of a suburb of Metroplex. It is ~9% CAP with 100% occupancy. A corporate lease with 4 year left occupied 70% of the property and several smaller tenants occupied 30% with ~3 years left. Current lease rate is low to average for that area.
Line up loan directly from bank with 75% LTV @ ~4.5% 5 year term, 20 year amort. LLC is set up to hold it and bank is ok with it.
I am still concerned I may screw up somewhere on 1st commercial. Any tips on what to do in inspection phase?
TIA