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Updated over 1 year ago,
DSCR loan for commercial property
In search of creative financing for a small commercial unit. Just want to throw my scenario out there and see if anyone has any direction or info at all to help us get this to the finish line. Ideally, this is a currently medial office unit that we are looking to rehab and place an assisted /accessible living business as our tenant. The loan and details are as followed
Commercial condo
located in bridgeport CT
3,481 square feet2
45k purchase price
5,000-6,000 rent with a 7-10 year lease in place upon closing
20% down payment
Needs 80k of upgrades so any construction or combination loan options are ideal.