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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This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information.  Recipient must verify the information and bears all risk for any inaccuracies.