Determining Value for Loan Consideration on 3 unit apt building.

[Chadd Naugle]

Okay this is an odd one... I am trying to determine value so I know how much I can get from a lender.

This building was once an old grocery store in town, it has been converted to a 3 unit apt building.  I can't use residential comps, because it is not a house.  All units are currently rented.

So how do it determine value so I can get a loan.  Do lenders base the value on cap rate?  

The NOI is $14,900 per year so at 10% cap it would be valued at $149,000. But I am not sure what banks use to determine value, so I don't know what the LTV would be because I don't know what the value is. I feel like a dog chasing my tail :)

Does anyone see a problem of getting funding for $95,000 based on these numbers? or what type of loan or funding, I should try and apply for based on this scenario?

Thanks in advance.