Advice/referrals on getting a LOC on commercial building

[Ryan Zaninovich]

Hello everyone,

I own a commercial building worth $1.5 million that is unemcumbered. I purchased it a little over 6 months ago. It is leased by the doctor I purchased it from with a month to month triple net at $9200 a month. I'd like to get a LOC on this building. Can anyone give me some advice on how much I can expect a bank would be willing to loan on this? Is my credit and other income a factor (I guess a better question is how much of a factor are those items in this situation) or is the building the main consideration? Also, what type of banks/institutions would be inclined to do this type of loan? Anyone have a referral?

Thanks!