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7494 Indiana Avenue, Rivers...

First Financial Capital Provides $3.1M Bridge Loan For Riverside Gas Station Acquisition
FINANCEDRetail

First Financial Capital Provides $3.1M Bridge Loan For Riverside Gas Station Acquisition

7494 Indiana Avenue, Riverside, California 92504, United States

$3,095,000

$82/SF

Building Size

37,462 SF

Asset Type

Retail

Closing

Dec 27, 2021

AI

A bridge loan in the amount of $3,095,000 was secured for the acquisition of a gas station located at 7494 Indiana Avenue in Riverside. The gas station has a total square footage of 37,462 and is part of the Riverside market. The loan was provided by First Financial Capital, a privately capitalized bridge lender in West Hollywood known for financing special purpose properties such as gas station construction or acquisition. The loan terms include a 12.00% interest rate with an interest-only period, a 3.00% fee, a duration of 1 year with 2 renewal options, and no prepayment penalty.

Summary of transaction details

  • Property Type: Gas Station
  • Transaction Amount: $3,095,000
  • Address: 7494 Indiana Avenue
  • Market: Riverside
  • Square Footage: 37,462

First Financial Capital's representative, Faraz Ghadooshahy, facilitated the loan transaction. Scott Olson from C-Store Realty served as the broker in this deal. First Financial Capital prides itself on successful financing for the acquisition of a 76 branded gas station in just 11 business days. For more information or inquiries, interested parties can contact First Financial Capital at 310.694.5060 and ask for Faraz.

Players

Scott Olson

Broker

$12.6M

vol

2 deals

Broker

Faraz Ghadooshahy

First Financial Capital

Lender

$23.4M

vol

3 deals

Lender
First Financial Capital
First Financial CapitalLender

Riverside Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.13%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93