Car Lot and Office Building

Car Lot and Office Building

Deal Summary:

Subject property is a 0.55 acre car lot with small sales office on site.  Talmer West Bank acquired the 2 parcels through foreclosure in April 2014.  The bank is selling the property to the business currently operating on site.

Exit Strategy:

Pay off loan through operating income from business

Loan Information:

Property Type: Commercial Building, Built 1974
Subject Property: 2338 Losee Rd, North Las Vegas, NV 89030
APN #: 139-22-502-001, 139-22-510-014
Lot Size:Building Size: +/- 0.55 acre+/- 500 sq ft
Loan Amount: $ 150,000
Purchase Price: $ 225,000
Appraisal Broker Price Opinion has been ordered
Down Payment: $ 75,000
Loan-to-cost: 66.7 %
Interest Rate: 11% interest only, paid monthly
Debt-to-Income Ratio 31.5 %
Maturity: 24 months
Extension Provision: At lender’s discretion.
Collateral: First Deed of Trust on subject property.
Closing Costs: Paid by borrower


Commercial Location Maps



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