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
Riverside Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
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